BA in Economics in University of Cambridge

The Faculty of Economics at the University of Cambridge offers undergraduate programs in various colleges of the university. The undergraduate course in Economics at Cambridge aims to give a broad and solid understanding of economics. It allows studying the core of economics in considerable depth, using mathematical and statistical techniques, while it also gives a more comprehensive perspective on economics, incorporating historical, political, and social insights.

The course provides a sound understanding of core, pure, and applied economics. However, while studying economics in considerable depth in this specialized degree, the student employs ideas and techniques from many other disciplines too; including mathematics and statistics, history, sociology, and politics. Therefore, Cambridge economics graduates are extremely well qualified for a wide range of jobs and further courses.

Admission Requirements

The course requirements for Economics at Cambridge stipulate that A-level or IB Higher Level Mathematics (or equivalent qualification) is essential. This reflects the fact that the Cambridge Economics course is rigorous and uses mathematical models to analyze economic problems. It is therefore important that you are very proficient in Mathematics. Offers to Cambridge Economics candidates are typically conditional on achieving an A* for A-level Maths or 7 for IB Higher Level Maths (or an equivalent requirement).

The typical offer to Economics candidates is conditional on A*A*A for A-level or 40-42 points with 776 at Higher Level for IB (or similarly high grades for comparable qualifications), although this varies by College. Most Colleges have a strong preference for academic subjects and may not count more vocational subjects (e.g. Accounting) in this respect (although Business Studies is accepted if Economics is not available).

International Qualifications

In addition to the main qualifications, typical offer levels for a range of qualifications, including the European Baccalaureate, International A-Levels, and the International Baccalaureate. Please note that International AS and A-Levels (offered by Cambridge International, Oxford AQA, or Pearson Edexcel) are recognized as equivalent to UK Board GCE AS and A-Levels.

For many Cambridge courses, certain subjects are required to a high level and all Colleges expect such subjects to be passed, normally with the highest grade available. 

Minimum English language requirements

• IELTS Academic1 – normally a minimum overall grade of 7.5, usually with 7.0 or above in each element.
• TOEFL Internet Based Test (IBT) – normally a minimum overall score of 110, with 25 or above in each element.
• Cambridge English: C2 Proficiency – accepted with a minimum overall score of 200, with no element lower than 185.

Cambridge English: C1 Advanced – accepted with a minimum overall score of 193, with no element lower than 185, plus an assessment by the Language Centre. Following assessment, the University Language Centre may advise further action from the applicant (eg enrolment at one of the Language Centre courses, or completion of an IELTS test).

Course Structure

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 mainly 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. In Part I, the British Economic History paper is assessed via an exam paper and a project. There is also a project within the Econometrics paper in Part IIA, as well as essay work for the History and Philosophy of Economics paper.

Year 1 (Part I)

Part I provides an introduction to the subject, a common core of knowledge that 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, the student covers 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 I

The student also takes one optional paper, chosen from:

• International Trade and Development
• Modern Societies
• Mathematics and Statistics for Economists
• Labour
• Modern State and its Alternatives
• International Conflict, Order and Justice
• History and Philosophy of Economics (also available as an optional paper in Part IIB)
• World Depression in the Interwar Years (also available as an optional paper in Part IIB)

Through these papers, the student acquires knowledge and understanding of a range of key topics and analytical techniques in microeconomic and macroeconomic theory, develops knowledge of key econometric techniques, and learns 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, the student takes two optional papers and writes a compulsory dissertation of 7,500 words.

One of the objectives of the final year is to extend the student’s knowledge of economic theory and train him 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 Economy
• Banking and Finance
• Public Economics
• The Economics of Developing Countries
• Industry
• Theory and Practice of Econometrics II
• Global Capitalism
• British and European Politics

Cost of Study and Fees

As an international student at Cambridge, there are three costs you need to consider. These are your:

1- Tuition fees

The tuition fees for international students registered in the undergraduate course in economics are around 30,536.23 US dollars.

2- College fees

All international/overseas fee status students, and those Home fee status students who aren't eligible for tuition fee support (eg affiliate students), normally have to pay College fees in addition to University tuition fees.

The College fee covers the cost to your College of providing a range of educational, domestic, and pastoral services and support.

Annual College fees may vary between Colleges and in many cases are fixed for the duration of your course. For further information please visit the link. 

3- Living costs

Your living expenses may be higher than for a UK student (eg if you stay in Cambridge/the UK during vacations). In 2020-21, the minimum resources needed in Cambridge for the year (excluding tuition and College fees) are estimated to be approximately $15,839.41, depending on lifestyle.

Scholarships

The Cambridge Trust offers a small program of scholarships for undergraduate students who are set at the Overseas fee rate. Most of the Trust's scholarships are part-cost awards which will pay only part of the cost of studying in Cambridge. 

Eligibility

The eligibility requirements for part-cost scholarships are:

• significant academic achievement and potential
• financial need

Funding for international students with financial needs is highly competitive. If you do not require financial support in order to study at Cambridge, please do not apply for a scholarship. You will only be eligible for a scholarship if the university is satisfied that you have financial needs.

Scholarship Application 

• Applicants intending to pursue a course of undergraduate study at the University of Cambridge should complete and submit a UCAS application by the deadline of 15 October.
• To apply for funding from the Cambridge Trust you will first need to gain an offer of admission to a Cambridge College.  
• Once you have an offer of admission to one of the Cambridge Colleges, you will be invited by your College to complete an application to the Trust to be considered for funding. 
• You do not need to apply directly to the Trust for funding, as the Trust only considers applicants who are put forward by their Colleges.