Economics

Economics at the University of Cambridge offers a rigorous and comprehensive study of the economic principles and analytical methods that shape the world. This program is designed to equip students with a deep understanding of how economies function at both the micro and macro levels, as well as the analytical tools necessary to evaluate economic policies and market behaviors. Throughout the course, students will explore a wide range of topics, including supply and demand, market equilibrium, economic growth, inflation, unemployment, international trade, financial markets, and government policy interventions. The program emphasizes the development of critical thinking and quantitative skills, enabling students to interpret complex economic data and construct evidence-based arguments.

Students at Cambridge will engage with both theoretical frameworks and empirical research, fostering a balanced perspective that integrates abstract models with real-world applications. The curriculum includes lectures, seminars, and tutorials, encouraging active participation and personalized feedback. The University’s distinguished faculty bring a wealth of academic expertise and practical insights, guiding students through the intricacies of economic analysis. Moreover, the program offers opportunities for specialization in fields such as development economics, environmental economics, or behavioral economics, allowing students to tailor their studies to their interests and career aspirations.

The Economics degree at Cambridge also recognizes the importance of interdisciplinary approaches, integrating insights from politics, sociology, and history to deepen understanding of economic phenomena. Students are encouraged to critically evaluate economic theories and consider ethical implications of economic policies. The program prepares graduates for diverse careers, including roles in finance, consulting, government, and international organizations, as well as for further academic research. Graduates leave with a solid foundation in economic theory and practical skills applicable across various sectors, making them well-equipped to analyze and address complex economic challenges in a global context.

Teaching is provided through lectures, classes and supervisions and you can expect between 10 and 15 lectures each week in the first year.

Assessment is through formal written examinations that take place at the end of each year, and the compulsory dissertation in Part IIB. Typically, you have one three-hour exam for each paper covered that year. There is also a project within the Econometrics paper in Part IIA.

Year 1 (Part I)

Part I provides an introduction to the subject, a common core of knowledge which can subsequently be extended. There are five compulsory papers:

• Microeconomics
• Macroeconomics
• Quantitative Methods in Economics
• Political and Social Aspects of Economics
• British Economic History

Through these papers you cover topics such as supply and demand, the role of prices and markets, employment, inflation, the operation of financial institutions and monetary policy.

The Quantitative Methods paper provides an introduction to the use of mathematical and statistical techniques in economics, and is assessed by a written exam.

Year 2 (Part IIA)

Part IIA consists of three compulsory papers:

• Microeconomics
• Macroeconomics
• Theory and Practice of Econometrics

You also take one optional paper, chosen from:

• International Trade and Development
• Modern Societies
• Mathematics and Statistics for Economists
• Labour
• Analysis of Modern Politics
• International Relations
• History and Philosophy of Economics

Through these papers, you acquire a knowledge and understanding of a range of key topics and analytical techniques in microeconomic and macroeconomic theory, develop knowledge of key econometric techniques, and learn the IT skills needed to undertake a project in applied econometrics.

Year 3 (Part IIB)

The final year consists of two compulsory papers:

• Microeconomic Principles and Problems
• Macroeconomic Principles and Problems

In addition, you take two optional papers and write a compulsory dissertation of 7,500 words.

One of the objectives of the final year is to extend your knowledge of economic theory and train you to apply this theory to practical issues and public policy. Therefore, the optional papers available can vary from year to year but recent examples include:

• Economic Theory and Analysis
• Political Economies
• Banking and Finance
• Public Economics
• The Economics of Developing Countries
• Industry
• Theory and Practice of Econometrics
• World Depression in the Interwar Years
• The Politics of Europe
• The Political Economy of Capitalism
• The Family

• All applicants to the University of Cambridge must submit an application to UCAS (the Universities and Colleges Admissions Service) by the relevant deadline.
• The Attestat o (polnom) Srednem Obshchem Obrazovanii (Certificate of Secondary Education) is not considered to be suitable preparation for a competitive application to the University of Cambridge. We strongly recommend that you undertake further study if you wish to apply for an undergraduate degree. Examples of the qualifications that would be considered suitable for admission to Cambridge are A Levels, the International Baccalaureate (IB), five or more Advanced Placement (AP) courses, or possibly the first year of an undergraduate degree at a university outside the UK. We recommend that you contact the College that you wish to apply to directly for further advice and guidance.
• IELTS – normally a minimum overall grade of 7.5, usually with 7.0 or above in each element.
• Cambridge English: Advanced – grade A or B.
• Cambridge English: Proficiency – grade A, B or C.
• The pre-interview written assessment for Economics will be taken on 2 November 2017.

The University of Cambridge offers several financing options for students enrolled in its Economics undergraduate program, designed to make higher education accessible and affordable for a diverse range of applicants. Tuition fees for this program are set annually and vary depending on the student’s fee status—home, EU, or international. For home students, the tuition fee is generally covered in part or fully by government-funded schemes, such as the UK Students Loans Company, which provides loans for both tuition and maintenance. These loans are repayable only once the graduate’s income exceeds a certain threshold, ensuring that debt does not become burdensome immediately after graduation. International students, on the other hand, are responsible for paying the full international tuition fee, which is higher than the domestic rate; however, they can also access certain scholarships and external funding sources.

Cambridge’s collegiate system also offers numerous financial aid opportunities, including scholarships and bursaries based on academic merit, financial need, or a combination of both. For instance, some colleges provide generous bursaries that do not require repayment, aimed at supporting students with demonstrated financial difficulties. Additionally, the university has partnerships with various organizations and foundations that offer scholarships specifically for economics students or for students from particular regions or backgrounds.

Aside from formal funding, students are encouraged to seek external bursaries, scholarships, and sponsorships from government agencies, private foundations, and international bodies, many of which are advertised through the university’s dedicated financial aid offices. Furthermore, Cambridge offers guidance and advice on part-time work opportunities both on and off campus, which can help students offset living expenses during their studies.

For students choosing to study abroad, there are specific financial planning resources available, including currency exchange considerations and information about international student grants. Graduate funding options, such as research council grants and subject-specific scholarships, are also accessible for those continuing their studies after the undergraduate program.

Overall, the University of Cambridge provides a comprehensive suite of financial support mechanisms to ensure that capable students can undertake the Economics program regardless of financial background. Through a combination of government loans, university bursaries, external scholarships, and work opportunities, students are well-supported to manage their study costs while focusing on their academic and professional development.

Your living expenses may be higher than for a Home student (eg if you stay in Cambridge/the UK during vacations). The minimum resources needed in Cambridge for the year (excluding tuition and College fees) are estimated to be approximately £10,080 in 2017-18 and £10,310 in 2018-19, depending on lifestyle (you should allow for increases in future years).