Economics and Mathematics BSc

Course overview

Mathematics is key to solving economic problems. The ongoing drive for economic efficiency, as well as the increasing importance of technology and big data, means that mathematics continues to have a significant impact on how the world works. Demand for an in-depth economics perspective backed-up with mathematics skills comes from multiple sectors – from business and technology to finance and IT – and the career options available are varied.

Studying Economics and Mathematics at Leeds will give you firm foundations in the theory and applications of mathematics and economics. You’ll gain an in-depth understanding of micro and macroeconomics. You’ll get to grips with core concepts such as supply and demand, as well as developing your skills in econometrics. And your mathematics learning will give you a solid grounding in algebra, calculus, probability, statistics and more.

Here at Leeds, we understand the importance economics and mathematics have in everyday life, which is why we have one of the largest mathematics research departments in the UK and our courses are shaped by the latest thinking. This course is delivered jointly by the School of Mathematics and the Leeds University Business School, equipping you with the relevant knowledge, skills and experience you need to begin your career.

Why study at Leeds:

• Our School’s globally-renowned research feeds into the course, shaping your learning with the latest thinking in areas such as financial mathematics, economics, probability and modern applied statistics.
• Learn from expert academics and researchers who specialise in a variety of mathematics and economics areas.
• Academic staff provide you with regular feedback and advice throughout your degree, with small tutorial groups supporting the teaching in the first year.
• Access excellent facilities and computing equipment, complemented by social areas, communal problem-solving spaces and quiet study rooms.
• Broaden your experience and enhance your career prospects with our industrial placement opportunities or study abroad programmes.
• Make the most of your time at Leeds by joining our student society MathSoc where you can meet more of your peers, enjoy social events and join the MathSoc football or netball team.

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Accreditation

Accreditation is the assurance that a university course meets the quality standards established by the profession for which it prepares its students.

The School of Mathematics at Leeds has a successful history of delivering courses accredited by the Royal Statistical Society (RSS). This means our mathematics courses have consistently met the quality standards set by the RSS.

As we are reviewing our curriculum, we are currently seeking reaccreditation from the RSS.

Course details

This course will provide you with an integrated programme of economics, mathematics and statistics. Your time will be divided between modules from economics and mathematics. You’ll enjoy a great deal of independence in shaping your studies from a wide range of advanced topics, including statistics, financial mathematics and micro/macro-economics.

Each academic year, you'll take a total of 120 credits.

Course Structure

The list shown below represents typical modules/components studied and may change from time to time. Read more in our terms and conditions.

Most courses consist of compulsory and optional modules. There may be some optional modules omitted below. This is because they are currently being refreshed to make sure students have the best possible experience. Before you enter each year, full details of all modules for that year will be provided.

For more information and a list of typical modules available on this course, please read Economics and Mathematics BSc in the course catalogue.

Year 1

Compulsory modules

Core Mathematics – 40 credits

You’ll learn the foundational concepts of function, number and proof, equipping you with the language and skills to tackle your mathematical studies. The module also consolidates basic calculus, extending it to more advanced techniques, such as functions of several variables. These techniques lead to methods for solving simple ordinary differential equations. Linear algebra provides a basis for wide areas of mathematics and this module provides the essential foundation.

Probability and Statistics – 20 credits

'Probability is basically common sense reduced to calculation; it makes us appreciate with exactitude what reasonable minds feel by a sort of instinct.' So said Laplace. In the modern scientific and technological world, it is even more important to understand probabilistic and statistical arguments. This module will introduce you to key ideas in both areas, with probability forming the theoretical basis for statistical tests and inference.

Computational Mathematics and Modelling – 20 credits

You'll be introduced to computational techniques, algorithms and numerical solutions, as well as the mathematics of discrete systems. You'll learn basic programming using the language Python and apply computational techniques to the solution of mathematical problems.

Economics and Global History – 10 credits

History plays a key role in economics and influencing the trajectory of economic development. This module addresses some of the ‘lessons of history’, giving you a sense of perspective when studying a variety of modern economies across the world, both developed and undeveloped. Using global history, economic concepts, theories and reasoning, you’ll learn the intellectual tools to deal with the dynamics of long-term economic development, waves and crises, allowing you to apply historical reasoning to concrete problems in economic decision making at societal and political level.

Economic Theory and Applications – 30 credits

This module gives you an introduction to the economic understanding of the world of individual choice, business behaviour, national-level economic systems and government economic policy. You’ll apply theories to issues and problems of consumption, production, exchange as well as output, employment, inflation and investment. You’ll also use relevant data analysis to understand economic issues.

Year 2

Compulsory modules

Statistical Methods – 20 credits

Statistical models are important in many applications. They contain two main elements: a set of parameters with information of scientific interest and an "error distribution" representing random variation. This module lays the foundations for the analysis of such models. We’ll use practical examples from a variety of statistical applications to illustrate the ideas.

Optimisation – 10 credits

Optimisation, “the quest for the best”, plays a major role in financial and economic theory, such as maximising a company's profits or minimising its production costs. This module develops the theory and practice of maximising or minimising a function of many variables, and thus lays a solid foundation for progression onto more advanced topics, such as dynamic optimisation, which are central to the understanding of realistic economic and financial scenarios.

Economics Research Methods – 10 credits

Explore different research methods used by social scientists and policy researchers. You’ll develop many of the critical thinking and research skills necessary for final year projects. A key emphasis will be placed on the critical assessment of research methodologies and research findings.

Intermediate Macroeconomics – 10 credits

The module will consider a number of macroeconomic problems and explain the approach that macroeconomists take to tackle them. You’ll critically discuss and evaluate a range of macroeconomic models and macroeconomic concepts that are used to understand macroeconomic problems.

Intermediate Microeconomics – 10 credits

Explore a number of microeconomic problems and the approach that microeconomists take when attempting to solve these problems. You’ll develop insight into how mathematical modelling is used to understand problems of consumer theory and producer theory. The aim of this module is to give you a grounding in the tools, techniques, and theory of microeconomics theory and the application of microeconomics.

Optional modules

Please note: The modules listed below are indicative of typical options and some of these options may not be available, depending on other modules you have selected already.

Further Linear Algebra and Discrete Mathematics – 20 credits

Explore the more abstract ideas of vector spaces and linear transformations, together with introducing the area of discrete mathematics.

Vector Calculus and Partial Differential Equations – 20 credits

Vector calculus is the extension of ordinary one-dimensional differential and integral calculus to higher dimensions, and provides the mathematical framework for the study of a wide variety of physical systems, such as fluid mechanics and electromagnetism.

These systems give rise to partial differential equations (PDEs), which can be solved and analysed. Students will learn to use, among others, techniques introduced in earlier modules as well as being introduced to Fourier methods for PDEs.Stochastic Processes – 10 credits

A stochastic process refers to any quantity which changes randomly in time. The capacity of a reservoir, an individual’s level of no claims discount and the size of a population are all examples from the real world. The linking model for all these examples is the Markov process. With appropriate modifications, the Markov process can be extended to model stochastic processes which change over continuous time, not just at regularly spaced time points. You’ll explore the key features of stochastic processes and develop your understanding in areas like state, space and time, the Poisson process and the Markov property.

Investigations in Mathematics – 10 credits

You’ll be introduced to ideas and methods of mathematical research. Examples and applications will be drawn from across the spectrum of pure mathematics, applied mathematics and statistics.

Financial Mathematics – 20 credits

The module provides an introduction to diverse financial applications of mathematics. The different applications are considered within the three broad categories of risk management, insurance and financial liabilities and pricing of financial assets.

Calculus of Variations – 10 credits

The calculus of variations concerns problems in which one wishes to find the extrema of some quantity over a system that has functional degrees of freedom. Many important problems arise in this way across pure and applied mathematics. In this module, you’ll meet the system of differential equations arising from such variational problems: the Euler-Lagrange equations. These equations and the techniques for their solution, will be studied in detail.

Rings and Polynomials – 10 credits

Rings are one of the fundamental concepts of mathematics, and they play a key role in many areas, including algebraic geometry, number theory, Galois theory and representation theory. The aim of this module is to give an introduction to rings. The emphasis will be on interesting examples of rings and their properties.

Time Series – 10 credits

In time series, measurements are made at a succession of times, and it is the dependence between measurements taken at different times which is important. This module will concentrate on techniques for model identification, parameter estimation, diagnostic checking and forecasting within the autoregressive moving average family of models and their extensions.

Ethics and Economics – 10 credits

Economics and ethical questions are intertwined in many ways. You'll gain an overview and in-depth insight of the ethical assumptions inherent in economic concepts and the potential and problems associated with their application to ethical problems and economic policy that are currently debated. Through a series of exams, essays and oral group presentations – coupled with your own independent reading – you'll develop a methodology for applying your knowledge to problems and refine your analytical and oral communication skills. This module is particularly in aligned with the Leeds University Business School thread of global cultural citizenship and ethics/responsibility.

Business Economics – 10 credits

This module focuses on two important decisions a firm faces. How to motivate a worker and how to price their goods. To do this we will be using what I consider the biggest advancement in economics in the last 40 years which is game theory. We will use simultaneous, sequential, repeated and infinite choice games as such there will be a reasonably high level of technicality required for this module. Having mastered the content, you’ll then be tasked with using the results of these models and further reading to construct arguments which are applied to general firms.

Theory of Growth, Value and Distribution – 10 credits

The aim of this module is to give you grounding in comparative approaches to theories of growth, value and distribution, the differing objectives of the major schools of thought and their origins in the history of economic thought, including the differing objectives of the Classical Political Economy, the Marginalist or Neoclassical Economics and the Keynesian Macroeconomics, respectively.

Introduction to Health Economics – 10 credits

Develop your understanding of the role and application of economics in health and health care. The module covers some important issues in health economics, beginning with how health care markets operate and how they differ from other markets, along with the challenges facing the health care sector today.

Labour Economics – 10 credits

Gain an understanding of the nature of labour markets and labour market institutions and learn how to apply these theories so as to account for various market labour market phenomena.

Industrial Economics – 10 credits

Learn how different market structures generate different outcomes for firms and consumers operating on those markets. You’ll evenly focus on the strategic decisions that firms can take to influence those market structures. You’ll be presented with applications of several microeconomic tools.

Macroeconomic Policy and Performance – 10 credits

Gain an understanding of competing theoretical perspectives on macroeconomic policy since the mid-1960s. This module explores the interplay of evolving economic theory, policy developments and political ideology and seeks to assess the performance outcomes of varying policy approaches, taking a comparative approach focused on industrialised nations.

Statistics and Econometrics – 20 credits

This module provides you with an intermediate-level understanding of mathematical statistics and an introduction of applied econometric techniques and relevant software. The module begins by considering the application of statistical theory to the solution of practical problems and; hence, provides you with essential tools to deal with the quantitative issues arising in most social sciences. The module then extends the intermediate-level statistical theory and problem-solving techniques to focus on econometrics. The econometrics part covers regression analysis with cross-sectional data using the method of Ordinary Least Squares (OLS) and provides a framework for assessing the validity of econometric analysis based on OLS.

Year 3

Compulsory modules

You’ll study optional modules within one of the following pathways:

• Mathematics
• Economics

Please note: The modules listed below are indicative of typical options and some of these options may not be available, depending on other modules you have selected already.

Mathematics

If you choose the mathematics pathway, you’ll be required to select a branch to pursue from Mathematics-A or Mathematics-B.

Mathematics-A

Project in Mathematics – 40 credits

This project is a chance for you to build invaluable research skills and develop and implement a personal training plan by conducting your own independent research project in a topic in mathematics. You’ll meet in groups to discuss the project topic, with each group member researching a specific aspect of the topic and producing an individual project report. You’ll then come together as a group to present your results, with each person contributing their own findings.

Optional modules:

You can choose from the following optional modules, or you may wish to combine optional modules with discovery modules.

Discovery modules give you the chance to apply your academic toolkit in real-world scenarios whilst expanding out into different areas, broadening your knowledge and giving you that competitive edge in the jobs market.

Statistical Modelling – 20 credits

The standard linear statistical model is powerful but has limitations. In this module, we study several extensions to the linear model which overcome some of these limitations. Generalised linear models allow for different error distributions; additive models allow for nonlinear relationships between predictors and the response variable; and survival models are needed to study data where the response variable is the time taken for an event to occur.

Methods of Applied Mathematics – 20 credits

This module develops techniques to solve ordinary and partial differential equations arising in mathematical physics. For the important case of second-order PDEs, we distinguish between elliptic equations (e.g., Laplace's equation), parabolic equations (e.g., heat equation) and hyperbolic equations (e.g., wave equation), and physically interpret the solutions. When there is not an exact solution in closed form, approximate solutions (so-called perturbation expansions) can be constructed if there is a small or large parameter.

Advanced Microeconomics – 10 credits

This module explores a range of topics in advanced microeconomics that are designed to be intellectually challenging at the theoretical level, whilst retaining a strong degree of relevance to economic policy in practice. A significant part of the theoretical material relates to welfare economics and the module explores how far these principles are actually useful for policy makers trying to make important policy decisions aimed at maximising social welfare (if this is even possible in practice), taking account of economic efficiency and distributive justice. Other topics in advanced microeconomics are also considered where they have a close link to practical application and government policy in particular (for example, the theory of auctions and prospect theory).

Transnational Corporations in the World Economy – 10 credits

Explore international business theories, macro- and micro-economics, politics and international relations to offer an integrated view of the World economy through the lenses of the Transnational Corporation. The key factors of production, technology and innovation, the overall environment and major agents are associated with the activities of internationalising corporations in an effort to explain the rise of TNCs and predict their future.

Economics of Business and Corporate Strategy – 20 credits

Economics is a powerful aid to critical thinking about strategic aspects of business. This module explores the economic foundations of ideas about strategy and of strategies that firms use in practice. It examines strategies that firms can use to improve performance within the organisation and then looks at strategies the firm can use to compete and be successful in the market. The ideas in the module are explored through economics research and real-world case studies and the aim throughout is to demonstrate the use economic theory in aiding practical business choices.

Economic Development – 20 credits

Explore the most important problems in economic development, particularly in the areas of development concepts and measurement, population and human capital, industrialisation and institutional development. You’ll cover aspects of developed countries’ economic history and contemporary challenges faced by developing nations, engaging with academic literature and appraising empirical evidence on development topics.

Mathematics-B

Project in Mathematics – 40 credits

This project is a chance for you to build invaluable research skills and develop and implement a personal training plan by conducting your own independent research project in a topic in mathematics. You’ll meet in groups to discuss the project topic, with each group member researching a specific aspect of the topic and producing an individual project report. You’ll then come together as a group to present your results, with each person contributing their own findings.

Optional modules:

Stochastic Calculus and Derivative Pricing – 20 credits

Stochastic calculus is one of the main mathematical tools to model physical, biological and financial phenomena (among other things). This module provides a rigorous introduction to this topic. You’ll develop a solid mathematical background in stochastic calculus that will allow you to understand key results from modern mathematical finance. This knowledge will be used to derive expressions for prices of derivatives in financial markets under uncertainty.

Multivariate Analysis and Classification – 20 credits

Multivariate datasets are common: it is typical that experimental units are measured for more than one variable at a time. This module extends univariate statistical techniques for continuous data to a multivariate setting and introduces methods designed specifically for multivariate data analysis (cluster analysis, principal component analysis, multidimensional scaling and factor analysis). A particular problem of classification arises when the multivariate observations need to be used to divide the data into groups or “classes”.

Numbers and Codes – 20 credits

Number theory explores the natural numbers. Central themes include primes, arithmetic modulo n, and Diophantine equations as in Fermat's Last Theorem. It is a wide-ranging current field with many applications, e.g. in cryptography.

Error-correcting codes tackle the problem of reliably transmitting digital data through a noisy channel. Applications include transmitting satellite pictures, designing registration numbers and storing data. The theory uses methods from algebra and combinatorics.

This module introduces both subjects. It emphasises common features, such as algebraic underpinnings, and applications to information theory, both in cryptography (involving secrecy) and in error-correcting codes (involving errors in transmission).

Graph Theory and Combinatorics – 20 credits

Graph theory is one of the primary subjects in discrete mathematics. It arises wherever networks as seen in computers or transportation are found, and it has applications to fields diverse as chemistry, computing, linguistics, navigation and more. More generally, combinatorics concerns finding patterns in discrete mathematical structures, often with the goal of counting the occurrences of such patterns. This module provides a foundation in graph theory and combinatorics.

Behavioural Economics – 10 credits

Explore the core developments in behavioural economics. This module introduces analytical tools to understand an ample repertoire of human behaviours which remain unexplained by the basic neoclassical paradigm and situations in which that paradigm fails to provide accurate predictions. Abstract concepts and models will be illustrated by examples and laboratory experiments and applied to a wide range of settings.

Advanced Macroeconomics – 10 credits

Advance your knowledge and understanding of the core debates and consensus in macroeconomics.

Environmental Economics – 10 credits

Gain an understanding of the inter-relationships between the economy and the environment, building the skills and knowledge to show how economic principles can be applied to the formulation and assessment of environmental policies.

Applied Econometrics – 10 credits

This module aims to further equip you with a good range of advanced skills and tools for data analysis. Its focus is on the use of data and econometric analysis to answer real-world questions and examine predictions of economic/finance theory. You'll learn how to integrate statistical tools with research designs that are useful in conducting empirical elements of research in economics/finance.

Public Enterprise and Regulation – 10 credits

Develop the skills and knowledge you’ll need to engage in informed debate about how to deal with sectors of the economy which are subject to market failure and are important in terms of their scale, political importance and / or their role as a basic need (for example, transport, energy, water, telecommunications, postal services). You’ll explore the rationale for Public Enterprise and its historical development and the impact of privatisation, considering alternative approaches top regulating privatised companies.

Modern Theories of Money and Monetary Policy – 10 credits

You’ll consider modern theories of money, inflation interest rates and monetary policy. The pre-requisites are intermediate knowledge of macroeconomics, mathematics and statistics.

Advanced Microeconomics – 10 credits

This module explores a range of topics in advanced microeconomics that are designed to be intellectually challenging at the theoretical level, whilst retaining a strong degree of relevance to economic policy in practice. A significant part of the theoretical material relates to welfare economics and the module explores how far these principles are actually useful for policy makers trying to make important policy decisions aimed at maximising social welfare (if this is even possible in practice), taking account of economic efficiency and distributive justice. Other topics in advanced microeconomics are also considered where they have a close link to practical application and government policy in particular (for example, the theory of auctions and prospect theory).

Transnational Corporations in the World Economy – 10 credits

Explore international business theories, macro- and micro-economics, politics and international relations to offer an integrated view of the World economy through the lenses of the Transnational Corporation. The key factors of production, technology and innovation, the overall environment and major agents are associated with the activities of internationalising corporations in an effort to explain the rise of TNCs and predict their future.

Economics of Business and Corporate Strategy – 20 credits

Economics is a powerful aid to critical thinking about strategic aspects of business. This module explores the economic foundations of ideas about strategy and of strategies that firms use in practice. It examines strategies that firms can use to improve performance within the organisation and then looks at strategies the firm can use to compete and be successful in the market. The ideas in the module are explored through economics research and real-world case studies and the aim throughout is to demonstrate the use economic theory in aiding practical business choices.

Economic Development – 20 credits

Explore the most important problems in economic development, particularly in the areas of development concepts and measurement, population and human capital, industrialisation and institutional development. You’ll cover aspects of developed countries’ economic history and contemporary challenges faced by developing nations, engaging with academic literature and appraising empirical evidence on development topics.

Economics

If you choose the economics pathway, you’ll be required to select a branch to pursue from Economics-A or Economics-B.

Economics-A

Economics Joint Honours Final Year Project – 30 credits

This final year project is your chance to really advance those skills in research, critical analysis and independent working, conducting a substantial research project within the discipline of economics. With the guidance of academic staff, you’ll address a research question, collect and analyse available data and communicate your findings.

Optional modules:

You can choose from the following optional modules, or you may wish to combine optional modules with discovery modules.

Methods of Applied Mathematics – 20 credits

This module develops techniques to solve ordinary and partial differential equations arising in mathematical physics. For the important case of second-order PDEs, we distinguish between elliptic equations (e.g., Laplace's equation), parabolic equations (e.g., heat equation) and hyperbolic equations (e.g., wave equation), and physically interpret the solutions. When there is not an exact solution in closed form, approximate solutions (so-called perturbation expansions) can be constructed if there is a small or large parameter.

Groups and Symmetry – 20 credits

Group theory is the mathematical theory of symmetry. Groups arise naturally in pure and applied mathematics, for example in the study of permutations of sets, rotations and reflections of geometric objects, symmetries of physical systems and the description of molecules, crystals and materials. Groups have beautiful applications to counting problems, answering questions like: "How many ways are there to colour the faces of a cube with m colours, up to rotation of the cube?"

Statistical Modelling – 20 credits

The standard linear statistical model is powerful but has limitations. In this module, we study several extensions to the linear model which overcome some of these limitations. Generalised linear models allow for different error distributions; additive models allow for nonlinear relationships between predictors and the response variable; and survival models are needed to study data where the response variable is the time taken for an event to occur.

Stochastic Calculus and Derivative Pricing – 20 credits

Stochastic calculus is one of the main mathematical tools to model physical, biological and financial phenomena (among other things). This module provides a rigorous introduction to this topic. You’ll develop a solid mathematical background in stochastic calculus that will allow you to understand key results from modern mathematical finance. This knowledge will be used to derive expressions for prices of derivatives in financial markets under uncertainty.

Multivariate Analysis and Classification – 20 credits

Multivariate datasets are common: it is typical that experimental units are measured for more than one variable at a time. This module extends univariate statistical techniques for continuous data to a multivariate setting and introduces methods designed specifically for multivariate data analysis (cluster analysis, principal component analysis, multidimensional scaling and factor analysis). A particular problem of classification arises when the multivariate observations need to be used to divide the data into groups or “classes”.

Numbers and Codes – 20 credits

Number theory explores the natural numbers. Central themes include primes, arithmetic modulo n, and Diophantine equations as in Fermat's Last Theorem. It is a wide-ranging current field with many applications, e.g. in cryptography.

Error-correcting codes tackle the problem of reliably transmitting digital data through a noisy channel. Applications include transmitting satellite pictures, designing registration numbers and storing data. The theory uses methods from algebra and combinatorics.

This module introduces both subjects. It emphasises common features, such as algebraic underpinnings, and applications to information theory, both in cryptography (involving secrecy) and in error-correcting codes (involving errors in transmission).

Graph Theory and Combinatorics – 20 credits

Graph theory is one of the primary subjects in discrete mathematics. It arises wherever networks as seen in computers or transportation are found, and it has applications to fields diverse as chemistry, computing, linguistics, navigation and more. More generally, combinatorics concerns finding patterns in discrete mathematical structures, often with the goal of counting the occurrences of such patterns. This module provides a foundation in graph theory and combinatorics.

Behavioural Economics – 10 credits

Explore the core developments in behavioural economics. This module introduces analytical tools to understand an ample repertoire of human behaviours which remain unexplained by the basic neoclassical paradigm and situations in which that paradigm fails to provide accurate predictions. Abstract concepts and models will be illustrated by examples and laboratory experiments and applied to a wide range of settings.

Advanced Macroeconomics – 10 credits

Advance your knowledge and understanding of the core debates and consensus in macroeconomics.

Environmental Economics – 10 credits

Gain an understanding of the inter-relationships between the economy and the environment, building the skills and knowledge to show how economic principles can be applied to the formulation and assessment of environmental policies.

Applied Econometrics – 10 credits

This module aims to further equip you with a good range of advanced skills and tools for data analysis. Its focus is on the use of data and econometric analysis to answer real-world questions and examine predictions of economic/finance theory. You'll learn how to integrate statistical tools with research designs that are useful in conducting empirical elements of research in economics/finance.

Public Enterprise and Regulation – 10 credits

Develop the skills and knowledge you’ll need to engage in informed debate about how to deal with sectors of the economy which are subject to market failure and are important in terms of their scale, political importance and / or their role as a basic need (for example, transport, energy, water, telecommunications, postal services). You’ll explore the rationale for Public Enterprise and its historical development and the impact of privatisation, considering alternative approaches top regulating privatised companies.

Modern Theories of Money and Monetary Policy – 10 credits

You’ll consider modern theories of money, inflation interest rates and monetary policy. The pre-requisites are intermediate knowledge of macroeconomics, mathematics and statistics.

Advanced Microeconomics – 10 credits

This module explores a range of topics in advanced microeconomics that are designed to be intellectually challenging at the theoretical level, whilst retaining a strong degree of relevance to economic policy in practice. A significant part of the theoretical material relates to welfare economics and the module explores how far these principles are actually useful for policy makers trying to make important policy decisions aimed at maximising social welfare (if this is even possible in practice), taking account of economic efficiency and distributive justice. Other topics in advanced microeconomics are also considered where they have a close link to practical application and government policy in particular (for example, the theory of auctions and prospect theory).

Economics of Business and Corporate Strategy – 20 credits

Economics is a powerful aid to critical thinking about strategic aspects of business. This module explores the economic foundations of ideas about strategy and of strategies that firms use in practice. It examines strategies that firms can use to improve performance within the organisation and then looks at strategies the firm can use to compete and be successful in the market. The ideas in the module are explored through economics research and real-world case studies and the aim throughout is to demonstrate the use economic theory in aiding practical business choices.

Economic Development – 20 credits

Explore the most important problems in economic development, particularly in the areas of development concepts and measurement, population and human capital, industrialisation and institutional development. You’ll cover aspects of developed countries’ economic history and contemporary challenges faced by developing nations, engaging with academic literature and appraising empirical evidence on development topics.

Economics-B

Economics Joint Honours Final Year Project – 30 credits

This final year project is your chance to really advance those skills in research, critical analysis and independent working, conducting a substantial research project within the discipline of economics. With the guidance of academic staff, you’ll address a research question, collect and analyse available data and communicate your findings.

Optional modules:

Methods of Applied Mathematics – 20 credits

This module develops techniques to solve ordinary and partial differential equations arising in mathematical physics. For the important case of second-order PDEs, we distinguish between elliptic equations (e.g., Laplace's equation), parabolic equations (e.g., heat equation) and hyperbolic equations (e.g., wave equation), and physically interpret the solutions. When there is not an exact solution in closed form, approximate solutions (so-called perturbation expansions) can be constructed if there is a small or large parameter.

Groups and Symmetry – 20 credits

Group theory is the mathematical theory of symmetry. Groups arise naturally in pure and applied mathematics, for example in the study of permutations of sets, rotations and reflections of geometric objects, symmetries of physical systems and the description of molecules, crystals and materials. Groups have beautiful applications to counting problems, answering questions like: "How many ways are there to colour the faces of a cube with m colours, up to rotation of the cube?"

Statistical Modelling – 20 credits

The standard linear statistical model is powerful but has limitations. In this module, we study several extensions to the linear model which overcome some of these limitations. Generalised linear models allow for different error distributions; additive models allow for nonlinear relationships between predictors and the response variable; and survival models are needed to study data where the response variable is the time taken for an event to occur.

Stochastic Calculus and Derivative Pricing – 20 credits

Stochastic calculus is one of the main mathematical tools to model physical, biological and financial phenomena (among other things). This module provides a rigorous introduction to this topic. You’ll develop a solid mathematical background in stochastic calculus that will allow you to understand key results from modern mathematical finance. This knowledge will be used to derive expressions for prices of derivatives in financial markets under uncertainty.

Numbers and Codes – 20 credits

Number theory explores the natural numbers. Central themes include primes, arithmetic modulo n, and Diophantine equations as in Fermat's Last Theorem. It is a wide-ranging current field with many applications, e.g. in cryptography.

Error-correcting codes tackle the problem of reliably transmitting digital data through a noisy channel. Applications include transmitting satellite pictures, designing registration numbers and storing data. The theory uses methods from algebra and combinatorics.

This module introduces both subjects. It emphasises common features, such as algebraic underpinnings, and applications to information theory, both in cryptography (involving secrecy) and in error-correcting codes (involving errors in transmission).

Multivariate Analysis and Classification – 20 credits

Multivariate datasets are common: it is typical that experimental units are measured for more than one variable at a time. This module extends univariate statistical techniques for continuous data to a multivariate setting and introduces methods designed specifically for multivariate data analysis (cluster analysis, principal component analysis, multidimensional scaling and factor analysis). A particular problem of classification arises when the multivariate observations need to be used to divide the data into groups or “classes”.

Graph Theory and Combinatorics – 20 credits

Graph theory is one of the primary subjects in discrete mathematics. It arises wherever networks as seen in computers or transportation are found, and it has applications to fields diverse as chemistry, computing, linguistics, navigation and more. More generally, combinatorics concerns finding patterns in discrete mathematical structures, often with the goal of counting the occurrences of such patterns. This module provides a foundation in graph theory and combinatorics.

You’ll choose 30 credits from the following modules, or you can swap one 10-credit module with 10 credits of discovery modules.

Behavioural Economics – 10 credits

Explore the core developments in behavioural economics. This module introduces analytical tools to understand an ample repertoire of human behaviours which remain unexplained by the basic neoclassical paradigm and situations in which that paradigm fails to provide accurate predictions. Abstract concepts and models will be illustrated by examples and laboratory experiments and applied to a wide range of settings.

Advanced Macroeconomics – 10 credits

Advance your knowledge and understanding of the core debates and consensus in macroeconomics.

Environmental Economics – 10 credits

Gain an understanding of the inter-relationships between the economy and the environment, building the skills and knowledge to show how economic principles can be applied to the formulation and assessment of environmental policies.

Applied Econometrics – 10 credits

This module aims to further equip you with a good range of advanced skills and tools for data analysis. Its focus is on the use of data and econometric analysis to answer real-world questions and examine predictions of economic/finance theory. You'll learn how to integrate statistical tools with research designs that are useful in conducting empirical elements of research in economics/finance.

Public Enterprise and Regulation – 10 credits

Develop the skills and knowledge you’ll need to engage in informed debate about how to deal with sectors of the economy which are subject to market failure and are important in terms of their scale, political importance and / or their role as a basic need (for example, transport, energy, water, telecommunications, postal services). You’ll explore the rationale for Public Enterprise and its historical development and the impact of privatisation, considering alternative approaches top regulating privatised companies.

Modern Theories of Money and Monetary Policy – 10 credits

You’ll consider modern theories of money, inflation interest rates and monetary policy. The pre-requisites are intermediate knowledge of macroeconomics, mathematics and statistics.

One-year optional work placement or study abroad

During your course, you’ll be given the opportunity to advance your skill set and experience further. You can apply to either undertake a one-year work placement or study abroad for a year, choosing from a selection of universities we’re in partnership with worldwide.

Learning and teaching

You’ll be taught through lectures, tutorials, workshops and practical classes. You’ll enjoy extensive tutorial support and have freedom in your workload and options.

We offer a variety of welcoming spaces to study and socialise with your fellow students. There are social and group study areas, a library with a café and a seminar room, as well as a Research Visitors Centre and a Mathematics Active Learning Lab.

Taster lectures

Watch our taster lectures to get a flavour of what it’s like to study at Leeds:

• Playing with Infinity ∞ Two Famous Infinite Series
• What Does it Mean to be Round?
• Fractals – What, How, Why?

On this course, you’ll be taught by our expert academics, from lecturers through to professors. You may also be taught by industry professionals with years of experience, as well as trained postgraduate researchers, connecting you to some of the brightest minds on campus.

Assessment

You’re assessed through a range of methods, including formal exams and in-course assessment.

Entry requirements

A-level: AAA/A*AB including Grade A in Mathematics.

Where an A-Level Science subject is taken, we require a pass in the practical science element, alongside the achievement of the A-Level at the stated grade.

Excludes A-Level General Studies or Critical Thinking.

GCSE: You must also have GCSE English at grade B (6) or above (or equivalent). We will accept Level 2 Functional Skills English in lieu of GCSE English.

Other course specific tests:

Extended Project Qualification and International Project Qualification: Whilst we recognise the value of these qualifications and the effort and enthusiasm that applicants put into them, we do not currently include them as part of our offer-making. We do, however, encourage you to provide further information on your project in your personal statement.

Alternative qualification

Read more about UK and Republic of Ireland accepted qualifications or contact the School’s Undergraduate Admissions Team.

Alternative entry

We’re committed to identifying the best possible applicants, regardless of personal circumstances or background.

Access to Leeds is a contextual admissions scheme which accepts applications from individuals who might be from low income households, in the first generation of their immediate family to apply to higher education, or have had their studies disrupted.

Find out more about Access to Leeds and contextual admissions.

Typical Access to Leeds offer: ABB including A in Mathematics and pass Access to Leeds.

Foundation years

If you do not have the formal qualifications for immediate entry to one of our degrees, you may be able to progress through a foundation year. A Foundation Year is the first year of an extended degree. We’ve designed these courses for applicants whose backgrounds mean they are less likely to attend university and who don’t meet the typical entry requirements for an undergraduate degree.

We offer a Studies in Science with Foundation Year BSc for students without science and mathematics qualifications.

You could also study our Interdisciplinary Science with Foundation Year BSc which is for applicants whose background is less represented at university.

On successful completion of your foundation year, you will be able to progress onto your chosen course.

International

We accept a range of international equivalent qualifications. For more information, please contact the Admissions Team.

International Foundation Year

International students who do not meet the academic requirements for undergraduate study may be able to study the University of Leeds International Foundation Year. This gives you the opportunity to study on campus, be taught by University of Leeds academics and progress onto a wide range of Leeds undergraduate courses. Find out more about International Foundation Year programmes.

English language requirements

IELTS 6.5 overall, with no less than 6.0 in any component. For other English qualifications, read English language equivalent qualifications.

Improve your English
If you're an international student and you don't meet the English language requirements for this programme, you may be able to study our undergraduate pre-sessional English course, to help improve your English language level.

Fees

UK: To be confirmed

International: £29,000 (per year)

Tuition fees for UK undergraduate students starting in 2024/25
Tuition fees for UK full-time undergraduate students are set by the UK Government and will be £9,250 for students starting in 2024/25.

The fee may increase in future years of your course in line with inflation only, as a consequence of future changes in Government legislation and as permitted by law.

Tuition fees for UK undergraduate students starting in 2025/26
Tuition fees for UK full-time undergraduate students starting in 2025/26 have not yet been confirmed by the UK government. When the fee is available we will update individual course pages.

Tuition fees for international undergraduate students starting in 2024/25 and 2025/26
Tuition fees for international students for 2024/25 are available on individual course pages. Fees for students starting in 2025/26 will be available from September 2024.

Tuition fees for a study abroad or work placement year
If you take a study abroad or work placement year, you’ll pay a reduced tuition fee during this period. For more information, see Study abroad and work placement tuition fees and loans.

Read more about paying fees and charges.

There may be additional costs related to your course or programme of study, or related to being a student at the University of Leeds. Read more on our living costs and budgeting page.

Scholarships and financial support

If you have the talent and drive, we want you to be able to study with us, whatever your financial circumstances. There is help for students in the form of loans and non-repayable grants from the University and from the government. Find out more in our Undergraduate funding overview.

Applying

Apply to this course through UCAS. Check the deadline for applications on the UCAS website.

We may consider applications submitted after the deadline. Availability of courses in UCAS Extra will be detailed on UCAS at the appropriate stage in the cycle.

Admissions guidance

Read our admissions guidance about applying and writing your personal statement.

What happens after you’ve applied

You can keep up to date with the progress of your application through UCAS.

UCAS will notify you when we make a decision on your application. If you receive an offer, you can inform us of your decision to accept or decline your place through UCAS.

How long will it take to receive a decision

We typically receive a high number of applications to our courses. For applications submitted by the January UCAS deadline, UCAS asks universities to make decisions by mid-May at the latest.

Offer holder events

If you receive an offer from us, you’ll be invited to an offer holder event. This event is more in-depth than an open day. It gives you the chance to learn more about your course and get your questions answered by academic staff and students. Plus, you can explore our campus, facilities and accommodation.

International applicants

International students apply through UCAS in the same way as UK students.

We recommend that international students apply as early as possible to ensure that they have time to apply for their visa.

Read about visas, immigration and other information here.

If you’re unsure about the application process, contact the admissions team for help.

Admissions policy

University of Leeds Admissions Policy 2025

This course is taught by

School of Mathematics
Leeds University Business School

Contact us

School of Mathematics Undergraduate Admissions

Email: maths.admiss@leeds.ac.uk
Telephone:

Career opportunities

Mathematical skills are highly valued in virtually all walks of life, which means that the employment opportunities for mathematics graduates are far-reaching, with the potential to take you all over the world.

Plus, University of Leeds students are among the top 5 most targeted by top employers according to The Graduate Market 2024, High Fliers Research, meaning our graduates are highly sought after.

Qualifying with a degree in economics and mathematics from Leeds will set you up with the core foundations needed to pursue an exciting career across a wide range of industries and sectors, including:

• Banking and finance
• Asset management and investment
• Consultancy
• Insurance
• Teaching
• Central and local government

The numerical, analytical and problem-solving skills you'll develop, as well as your specialist subject knowledge and your ability to think logically, are highly valued by employers. This course also allows you to develop the transferable skills that employers seek.

Here’s an insight into the job roles some of our most recent graduates have obtained:

• Quantitative Analyst, Aldermore Bank
• Business Intelligence Engineer, Amazon
• Strategy & Portfolio Analyst, BP
• Chartered Accountant Trainee, Crowe Clark Whitehill
• Corporate Finance - Restructuring Services, Deloitte
• Audit Associate, Ernst & Young
• Credit Risk Analyst, Gazprom-energy
• Management Accountant, Goldman Sachs
• Trainee Actuary, Government Actuary's Department
• Maths Tutor, Hall Cross School
• Technology Analyst, HSBC Global Banking and Markets
• Investment Operations Associate, Partners Capital
• Associate, Business Recovery Services, PwC
• Financial Analyst, Rothschild
• Trainee Chartered Accountant, Ryecroft Glenton
• Investment Manager, Schroder's

Careers support

Study abroad and work placements

Study abroad

Studying abroad is a unique opportunity to explore the world, whilst gaining invaluable skills and experience that could enhance your future employability and career prospects too.

From Europe to Asia, the USA to Australasia, we have many University partners worldwide you can apply to, spanning across some of the most popular destinations for students.

This programme offers you the option to spend time abroad as an extra academic year and will extend your studies by 12 months.

Once you’ve successfully completed your year abroad, you'll be awarded the ‘international’ variant in your degree title upon completion which demonstrates your added experience to future employers.

Find out more at the Study Abroad website.

Work placements

A placement year is a great way to help you decide on a career path when you graduate. You’ll develop your skills and gain a real insight into working life in a particular company or sector. It will also help you to stand out in a competitive graduate jobs market and improve your chances of securing the career you want.

Benefits of a work placement year:

• 100+ organisations to choose from, both in the UK and overseas
• Build industry contacts within your chosen field
• Our close industry links mean you’ll be in direct contact with potential employers
• Advance your experience and skills by putting the course teachings into practice
• Gain invaluable insight into working as a professional in this industry
• Improve your employability

If you decide to undertake a placement year, this will extend your period of study by 12 months and, on successful completion, you'll be awarded the ‘industrial’ variant in your degree title to demonstrate your added experience to future employers.

With the help and support of our dedicated Employability Team, you can find the right placement to suit you and your future career goals.

Here are some examples of placements our students have recently completed:

• Industrial Placement Student, Deloitte LLP
• Risk Analyst - Infrastructure/ Strategy, Lloyds Banking Group
• Finance and Governance Placement, Bupa
• Operations Analyst, Tracsis Rail Consultancy
• Data Scientist, Department for Work & Pensions

Find out more about Industrial placements.