Road MapIntroduction: the life of an Economist. What is Economics?Economics at Warwick.Being a good student.Admissions.Q & A session.
An Example Economist -MeMy name is Stephen Lovelady, a PhD student and
Teaching Fellow at Warwick. I have been at Warwick since 2002! I have been...
An Undergraduate – BSc. Maths and Economics (2002-2005)
A Masters student – MSc. Economics (2005-2006)A PhD student – PhD Economics (2006 - )A Teaching Fellow – Lecturing Microeconomics (2009 - )A Researcher – An Admissions Officer – Non Home/EU Applicants (2009 - )A Resident Tutor – Rootes Residences (2006 - )Actively involved in the Students’ Union
The Life of an Economist
Undergraduate Economics
Exit Economics
“City jobs” (investment
banking, consulting, etc.)
Other jobs (accounting,
teaching, etc.)
Masters
Policy Work (HMT, BoE,
GES)Economics
Consultancy
Doctorate
Academic Work (University Professor)Specialist
Consultancy
What is Economics?A way of thinking – not a set of rules, laws or
graphs!The process matters more than the outcome...
Learning how to think like an EconomistLearning technical skills
MathsEconometricsGame Theory
Economics as a “Social Science”Then apply what you learn practically anywhere...
Research in Applied EconomicsHow do Warwick Undergraduates apply what they
learn?They can choose the RAE module in their final year
and produce an undergraduate dissertation Do video games make you more violent?“Deal or No Deal” as a natural experiment in risk
preferencesModelling football transfers using international trade
theoryHow house prices ripple through the UK (I did this!)How to increase blood donationsAnd...
Undergraduate Dissertations......Measuring risk by observing poker playersAttempting to explain obesityIs there a wage premium for being attractive?Why don’t males do their fair share of the
housework?What are the incentives to commit crime and how
do these change across the UK?And this is just a tiny sample...
Some Examples of My ResearchConsulting for Birmingham City Council on how
to target their spending to do the most goodHow does memory play a role in Economics?Are happier people more productive?
And how can we make them happier?!How are our decisions guided by emotions?
Specifically regret and our experiences of regretHow can we test “behavioural economics” in the
lab?
The common denominator?Across all these topics, and more, the key feature is
thinking like an Economist:Develop and apply sensible theory
From first principles From experiments, psychology or neuroscience
Support that theory with data that is as objective as possible.
Develop sensible conclusions that point out the limits of the theory (aka the assumptions) and data
This methodology need not be limited to traditional topics (unemployment, inflation, competition policy, etc.).
The core Economics Course 3-year course
Erasmus & Voluntary Year of Work Experience schemes can take it to 4
Strongly rooted in Mathematical foundations First year covers Micro, Macro, History and
develops Quantitative Techniques Teaching in lectures and seminar groups (15
hours contact per week) Assessment is by exams, tests, group project
work, presentations, assignments and 3rd year dissertation.
Other CoursesThe Economics department also offer a number
of other courses:Economics and Industrial Organization;Economics and Economic History;Economics, Politics and International Studies.
Also available within Warwick: PPE, MORSE, Maths & Economics, numerous business courses at WBS that include a significant Economics element.
Options allow you to tailor your degree to your interests
Our ModulesThe core components are designed to follow in a
seriesOur optional modules reflect the skills of the
departmentComplete list on the website
All modules are designed to include the latest thinking, current events and modern techniques
Assessment methods are specific to each module
Languages & Year AbroadYou can choose to do Language Modules as a key
part of the courseAnd may want to apply for an Erasmus year
abroad between 2nd and 3rd yearAbout 20 places per yearDistributed over 10 universities
Madrid, Barcelona, Munich, Paris, Venice etc.
You can also apply to go to the University of California2 places per year currently
Places given to high quality students
Economics Outside the DepartmentStudent run societies and eventsWarwick Economics Summit
Now running for 10 years and is superbWarwick Economics Society
‘Assumptions’ magazineWarwick International Development Society and
SummitWarwick EntrepreneursWarwick Emerging Markets Forum
Running for the first time in 2011
Being a good studentEconomics is a tough course:
Analytical and rigorous – lots of maths, statistics, and analytical thinking
Very broad – the ability to solve maths problems one week and think about world history the next
A competitive environment - students here all want to succeed!
You will need to work hard, be innovative and creative, work in a team, be able to solve problems, write and present, and think like an Economist to do well!
What do We provide?Key areas of Economics (micro, macro, economic history,
etc.)Core skills (maths, econometrics, game theory, etc.)
Teaching to help you to think like an economistA sensible mixture of large and small group teachingRegular access to a personal tutorRegular assessments and feedbackHigh quality support networkThird year dissertationA reputation for excellence well-understood by employersQuite simply one of the best places to study Economics in
the UK – with one of the best departments
What do Employer’s Want?“I would like to see more enthusiasm and imagination from
economics graduates for economics in a wider range of application areas.”
“The knowledge here is pretty standard for all those we have employed so far but the graduates offer little in the way of application to real situations.”
“We get the odd outstanding individual who really lives economics.”
“. . . an ability to think about novel situations in relation to economic theory.”
“Graduates who see economics in the world around them and don't need the parameters spelt out.”
“Employability says they turn up smart, on time, their soft skills are good, they can listen, diagnose . . . have an ability to think.“
“They don't regurgitate what you have told them . . . they have an ability to think.”
The Bottom LineDo you want to study Economics?If so, do you want to come to Warwick?Some things to consider:
Pure Economics vs. joint courses;Campus vs. city;Geographical preferences.
Some Figures from 2010>3000 applications in total from across the world.Almost 2000 from UK/EUFor UK/EU just over 450 offers, around 150 admittedFor non-UK/EU around 800 offers, around 150
admittedA multicultural student population: about 50% of our
admissions come from outside the EU.If you come to Warwick you will be working and
living alongside some of the brightest students in the world...
Coming to Warwick in 2012Competition is fierce! So we also need:
Superb motivation (personal statement, school report)Superb prior record (GCSEs, AS marks, school report)Commitment to Maths (Maths A-level or equivalent for
most of our courses)If you get an offer it will be in the range AAAb-A*AAA
for A-level students (likely A*AAa) and 38 for IB students.With minimum A grade, or 6 at Higher Level, in Maths
Fees & funding info at http://go.warwick.ac.uk/ugfunding Student Funding Team are in the Digi Lab today
The EndMany thanks for coming to this talk.I hope this helps you to decide whether you want
to study Economics and if so whether Warwick might be the place for you!Students from Warwick Economics Courses will be
on hand to chat about their experiences after Q&A