About this course
This is the only degree in the UK to combine economics and actuarial science. Actuarial science uses mathematical and statistical methods to assess risk and uncertainty. Actuaries are essential in industries such as insurance and finance. You'll learn to use the Bloomberg trading terminals in your first year, and study with students on the related Mathematics and Actuarial Science degree.
Your A level results will determine which core or compulsory modules you'll need to take.
You'll study core modules in microeconomics, macroeconomics and quantitative methods. Optional modules will let you shape your studies around your interests or career plans. These include international trade, survival models or public economics. You can also choose modules from outside the Economics and Mathematics departments.
You'll study in lectures and small classes. Our facilities include the behavioural economics laboratory and the Financial Laboratory (FinLab). This is a realistic trading room environment using the most detailed financial data available.
As part of this course you can also:
-
spend a semester abroad in your third year
-
spend a year in employment
-
gain vital work experience on our Student Innovation Projects
This BSc Economics and Actuarial Science degree is accredited by the Institute and Faculty of Actuaries (IFoA). You'll be eligible for 6 exemptions from the core principles:
-
Actuarial Statistics (CS1 and CS2)
-
Actuarial Mathematics (CM1 and CM2)
-
Business Finance and Economics (CB1 and CB2)
This is the maximum number of IFoA actuarial exemptions available on any undergraduate programme.
Accreditations
Course location
This course is based at Highfield.
Awarding body
This qualification is awarded by the University of Southampton.
Download the Course Description Document
The Course Description Document details your course overview, your course structure and how your course is taught and assessed.
Changes due to COVID-19
Although the COVID-19 situation is improving, any future restrictions could mean we might have to change the way parts of our teaching and learning take place in 2021 to 2022. We're working hard to plan for a number of possible scenarios. This means that some of the information on this course page may be subject to change.
Find out more on our COVID advice page.
Entry requirements
For Academic year 202122
A-levels
AAA or AABB including Mathematics (minimum grade A)
or
AAB or ABBB including Mathematics (minimum grade A) and Further Mathematics (minimum grade B)
A-levels additional information
Offers typically exclude General Studies and Critical Thinking
Although an Economics A level is not required, preference will be given to applicants taking at least one analytical A level subject ; that is, either Economics or a science-based subject.
A-levels with Extended Project Qualification
If you are taking an EPQ in addition to 3 A levels, you will receive the following offer in addition to the standard A level offer:
AAB including Mathematics (minimum grade A) and grade A in the EPQ
A-levels contextual offer
We are committed to ensuring that all applicants with the potential to succeed, regardless of their background, are encouraged to apply to study with us. The additional information gained through contextual data allows us to recognise an applicant's potential to succeed in the context of their background and experience.
Applicants who are highlighted in this way will be made an offer which is lower than the typical offer for that programme, as follows:
AAB including Mathematics (minimum grade A)<
or
ABB including Mathematics (minimum grade A) and Further Mathematics (minimum grade B)
International Baccalaureate Diploma
Pass, with 36 points overall with 18 at Higher Level, including 6 points from Higher Level Mathematics (Analysis and Approaches or Applications and Interpretation)
International Baccalaureate contextual offer
We are committed to ensuring that all learners with the potential to succeed, regardless of their background, are encouraged to apply to study with us. The additional information gained through contextual data allows us to recognise a learner’s potential to succeed in the context of their background and experience. Applicants who are highlighted in this way will be made an offer which is lower than the typical offer for that programme.
International Baccalaureate Career Programme (IBCP) statement
Offers will be made on the individual Diploma Course subject(s) and the career-related study qualification. The CP core will not form part of the offer. Where there is a subject pre-requisite(s), applicants will be required to study the subject(s) at Higher Level in the Diploma course subject and/or take a specified unit in the career-related study qualification. Applicants may also be asked to achieve a specific grade in those elements.
Please see the University of Southampton International Baccalaureate Career-Related Programme (IBCP) Statement for further information. Applicants are advised to contact their Faculty Admissions Office for more information.
BTEC
BTEC additional information
We only accept Engineering BTEC Extended/National Diploma
Access to HE Diploma
60 credits with a minimum of 45 credits at Level 3, all of which must be at Distinction
Access to HE additional information
Mathematics must be studied to level 3, A-level standard
Scottish Qualification
Offers will be based on exams being taken at the end of S6. Subjects taken and qualifications achieved in S5 will be reviewed. Careful consideration will be given to an individual’s academic achievement, taking in to account the context and circumstances of their pre-university education.
Please see the University of Southampton’s Curriculum for Excellence Scotland Statement (PDF) for further information. Applicants are advised to contact their Faculty Admissions Office for more information.
Cambridge Pre-U
D3 D3 D3 in three Principal subjects including Mathematics at D3
Cambridge Pre-U additional information
Cambridge Pre-U's can be used in combination with other qualifications such as A Levels to achieve the equivalent of the typical offer
Welsh Baccalaureate
AAA from 3 A levels including Mathematics (minimum grade A) or AAB from 3 A levels including Further Mathematics (minimum grade B)
or
AA from two A levels including Mathematics (minimum grade A) and A from the Advanced Welsh Baccalaureate Skills Challenge Certificate
Welsh Baccalaureate additional information
There are no additional requirements
Welsh Baccalaureate contextual offer
We are committed to ensuring that all learners with the potential to succeed, regardless of their background, are encouraged to apply to study with us. The additional information gained through contextual data allows us to recognise a learner’s potential to succeed in the context of their background and experience. Applicants who are highlighted in this way will be made an offer which is lower than the typical offer for that programme.
European Baccalaureate
82-84% overall including grade 8.5/10 in Mathematics
Other requirements
GCSE requirements
Applicants must hold GCSE English language (or GCSE English) (minimum grade 4/C)
Find the equivalent international qualifications for our entry requirements.
English language requirements
If English isn't your first language, you'll need to complete an International English Language Testing System (IELTS) to demonstrate your competence in English. You'll need all of the following scores as a minimum:
IELTS score requirements
- overall score
- 6.5
- reading
- 5.5
- writing
- 5.5
- speaking
- 5.5
- listening
- 5.5
We accept other English language tests. Find out which English language tests we accept.
You might meet our criteria in other ways if you do not have the qualifications we need. Find out more about:
-
our Access to Southampton scheme for students living permanently in the UK (including residential summer school, application support and scholarship)
-
skills you might have gained through work or other life experiences (otherwise known as recognition of prior learning)
Find out more about our Admissions Policy.
For Academic year 202223
A-levels
AAA or AABB including Mathematics (minimum grade A) or AAB or ABBB including Mathematics (minimum grade A) and Further Mathematics (minimum grade B)
A-levels additional information
Offers typically exclude General Studies and Critical Thinking
A-levels with Extended Project Qualification
If you are taking an EPQ in addition to 3 A levels, you will receive the following offer in addition to the standard A level offer: AAB including Mathematics (minimum grade A) and grade A in the EPQ
A-levels contextual offer
We are committed to ensuring that all applicants with the potential to succeed, regardless of their background, are encouraged to apply to study with us. The additional information gained through contextual data allows us to recognise an applicant's potential to succeed in the context of their background and experience. Applicants who are highlighted in this way will be made an offer which is lower than the typical offer for that programme, as follows: AAB including Mathematics (minimum grade A)< or ABB including Mathematics (minimum grade A) and Further Mathematics (minimum grade B)
International Baccalaureate Diploma
Pass, with 36 points overall with 18 at Higher Level, including 6 points from Higher Level Mathematics (Analysis and Approaches or Applications and Interpretation)
International Baccalaureate contextual offer
We are committed to ensuring that all learners with the potential to succeed, regardless of their background, are encouraged to apply to study with us. The additional information gained through contextual data allows us to recognise a learner’s potential to succeed in the context of their background and experience. Applicants who are highlighted in this way will be made an offer which is lower than the typical offer for that programme.
International Baccalaureate Career Programme (IBCP) statement
Offers will be made on the individual Diploma Course subject(s) and the career-related study qualification. The CP core will not form part of the offer. Where there is a subject pre-requisite(s), applicants will be required to study the subject(s) at Higher Level in the Diploma course subject and/or take a specified unit in the career-related study qualification. Applicants may also be asked to achieve a specific grade in those elements. Please see the University of Southampton International Baccalaureate Career-Related Programme (IBCP) Statement for further information. Applicants are advised to contact their Faculty Admissions Office for more information.
BTEC
We are committed to ensuring that all learners with the potential to succeed, regardless of their background, are encouraged to apply to study with us. The additional information gained through contextual data allows us to recognise a learner’s potential to succeed in the context of their background and experience. Applicants who are highlighted in this way will be made an offer which is lower than the typical offer for that programme.
BTEC additional information
If you are studying a BTEC Extended or National Extended Diploma (DDD) you will also need an additional A Level in Mathematics (grade A). However, we can accept an Engineering BTEC Extended or National Extended Diploma (DDD) without the additional A Level requirement.
Access to HE Diploma
60 credits with a minimum of 45 credits at Level 3, all of which must be at Distinction
Access to HE additional information
Mathematics must be studied to level 3, A-level standard
Irish Leaving Certificate
Irish Leaving Certificate (first awarded 2017)
H1 H1 H2 H2 H2 H2 including Mathematics at H2
Irish Leaving Certificate (first awarded 2016)
A1, A1, A1, A1, A1, A1 including Mathematics at A21
Scottish Qualification
Offers will be based on exams being taken at the end of S6. Subjects taken and qualifications achieved in S5 will be reviewed. Careful consideration will be given to an individual’s academic achievement, taking in to account the context and circumstances of their pre-university education.
Please see the University of Southampton’s Curriculum for Excellence Scotland Statement (PDF) for further information. Applicants are advised to contact their Faculty Admissions Office for more information.
Cambridge Pre-U
D3 D3 D3 in three Principal subjects including Mathematics at D3
Cambridge Pre-U additional information
Cambridge Pre-U's can be used in combination with other qualifications such as A Levels to achieve the equivalent of the typical offer
Welsh Baccalaureate
AAA from 3 A levels including Mathematics (minimum grade A) or or AA from two A levels including Mathematics (minimum grade A) and A from the Advanced Welsh Baccalaureate Skills Challenge Certificate
Welsh Baccalaureate additional information
Welsh Baccalaureate contextual offer
We are committed to ensuring that all learners with the potential to succeed, regardless of their background, are encouraged to apply to study with us. The additional information gained through contextual data allows us to recognise a learner’s potential to succeed in the context of their background and experience. Applicants who are highlighted in this way will be made an offer which is lower than the typical offer for that programme.
European Baccalaureate
82-84% overall including grade 8.5/10 in Mathematics
Other requirements
GCSE requirements
Applicants must hold GCSE English language (or GCSE English) (minimum grade 4/C)
Find the equivalent international qualifications for our entry requirements.
English language requirements
If English isn't your first language, you'll need to complete an International English Language Testing System (IELTS) to demonstrate your competence in English. You'll need all of the following scores as a minimum:
IELTS score requirements
- overall score
- 6.5
- reading
- 5.5
- writing
- 5.5
- speaking
- 5.5
- listening
- 5.5
We accept other English language tests. Find out which English language tests we accept.
You might meet our criteria in other ways if you do not have the qualifications we need. Find out more about:
-
our Access to Southampton scheme for students living permanently in the UK (including residential summer school, application support and scholarship)
-
skills you might have gained through work or other life experiences (otherwise known as recognition of prior learning)
Find out more about our Admissions Policy.
Got a question?
Please contact our enquiries team if you're not sure that you have the right experience or qualifications to get onto this course.
Email: enquiries@southampton.ac.uk
Tel: +44(0)23 8059 5000
Course structure
Each year is made up of core, compulsory and optional modules. In years 1 and 2, you'll study the broad themes of economics, statistics and demography. You'll also take specialised actuarial modules. Your modules in year 1 will depend on whether you studied economics at A level.
You'll also be able to broaden your experience beyond economics and actuarial science by selecting:
You do not need to choose your modules when you apply. Your academic tutor will help you to customise your course.
Year 1 overview
Core modules will give you a foundation in mathematical and statistical techniques, such as:
-
optimisation
-
probability
-
hypothesis testing
-
quantitative modelling
You’ll also study macroeconomics to learn about measures of GDP, inflation and unemployment, and concepts used in microeconomics.
Year 2 overview
You’ll deepen your understanding in economics by taking compulsory modules in macroeconomics and microeconomics. You’ll also learn about econometric theory and 'big data', and financial mathematics.
You’ll choose one further module to complement your studies, with options including:
- development economics
- games
- stochastic processes
Year 3 overview
You can choose to write a dissertation in an economics or demography topic of your choice. This is an opportunity to show that you can use relevant arguments and techniques, then apply them to your research.
You'll take further compulsory modules in macroeconomics or the principles of finance. Optional modules include:
-
international trade
-
choice and decision
-
survival models
Want more detail? See all the modules in the course.
Modules
Changes due to COVID-19
Although the COVID-19 situation is improving, any future restrictions could mean we might have to change the way parts of our teaching and learning take place in 2021 to 2022. We're working hard to plan for a number of possible scenarios. This means that some of the information on this course page may be subject to change.
Find out more on our COVID advice page.
For entry in Academic Year 2021-22
Year 1 modules
You must study the following modules in year 1:
The aim of this module is to equip you with some analytical and professional skills that will be useful in your economics degree and future careers. The module will also provide information about your degree programme and employability opportunities in yo...
This module gives an introduction into economic policy analysis that is based on empirical data. A range of economic policy questions covering different areas of economics will be presented. Policy recommendations will be derived using analytical economic...
This module will familiarise students with some fundamental insights and principles in economics through participating, analysing and discussing experiments and it will introduce students to experimental methods as used in economics. This is done by using...
Linear maps on vector spaces are the basis for a large area of mathematics, in particular linear equations and linear differential equations, which form the basic language of the physical sciences. This module restricts itself to the vector space R^n to ...
This module provides a bridge between A-level mathematics and university mathematics. It provides a good grounding and an in depth understanding of the theory and application of differential calculus, and other techniques widely used in Economics and Fina...
This module provides an introduction to macroeconomics – the study of the economy as a whole. Combined with Foundations/Principles of Microeconomics this module will provide an appropriate foundation for subsequent economic modules. We begin by discus...
The module will provide an opportunity for students to use A-level mathematical skills in studying Economics, Econometrics, Actuarial Sci8ence, and Management Sciences throughout their degrees. Pre-requisite for ECON2006 One of the pre-requisites fo...
All economics students, on both single and joint honours programmes, take this course. It is optional for students outside of economics. The module is designed to prepare students for the econometrics modules taken in second and third year. It also comple...
You must also choose from the following modules in year 1:
This module will provide an introduction to microeconomic analysis, the detailed analysis of individuals and groups within the economy. Combined with Principles of Macroeconomics this module will provide an appropriate foundation for subsequent economic m...
This module will provide an introduction to microeconomic analysis, the detailed analysis of individuals and groups within the economy. Combined with Principles of Macroeconomics this module will provide an appropriate foundation for subsequent economic m...
Year 2 modules
You must study the following modules in year 2:
This is a blended learning module to provide students with the basic tools and infomation necessary to embark in their third year dissertation modules.
The module will familiarise students with the parts of statistical distribution theory and statistical inference that are essential to a full understanding of econometrics and applied statistics. It will give student a thorough introduction to the theoret...
The module will proceed from a review of known content (matrix algebra, linear regression, hypothesis testing) to more advanced topics such as multiple linear regression, heteroscedasticity, restrictions in hypothesis testing, issues of model misspecifica...
The aim of this module is to equip you with some analytical and professional skills that will be useful in your economics degree and future careers. The module will also provide information about employability opportunities in your discipline, such as int...
This module provides a solid mathematical introduction to the subject of Compound Interest Theory and its application to the analysis of a wide variety of complex financial problems, including those associated with mortgage and commercial loans, the valua...
This module will equip students with the central concepts of macroeconomics, building on the foundations laid in ECON1XX4. Students will gain a clear understanding of the equilibrium behaviour of economies at the macro, that is national, level, using aggr...
This module will familiarise students with the central concepts of microeconomics, building on the foundations laid in ECON1001/ECON1003. Students will gain a clear understanding of the role of the price mechanism in organising economic activity and of ch...
You must also choose from the following modules in year 2:
The module is designed to provide an introduction to financial accounting, corporate finance and financial management of organisations. This module is intended for students from any academic discipline who have an interest in accounting and finance as an ...
The module will enable you to apply statistical and econometric techniques to the estimation and testing of economic models and for causal inference. It will thereby provide you with the skills necessary both to undertake your own empirical studies and to...
The module will introduce students to the economics of development.
This module gives a comprehensive overview of the modelling of strategic behaviour in modern microeconomics, building on the foundations laid in Intermediate Microeconomics. It will familiarise students with the central concepts in game theory, covering c...
In this module we study the working of imperfectly competitive markets, the behaviour of firms in these markets, welfare implications and competition policy.
The module will introduce the basic ideas in modelling, solving and simulating stochastic processes.
The aims of the module are to develop a simple dynamic framework in order to: (b) give microeconomic foundation to macroeconomic analysis, (a) learn to approach macroeconomic problems from a general equilibrium perspective, (c) enable students to eva...
Year 3 modules
You must study the following module in year 3:
The aim of this module is to equip you with professional skills and knowledge that will be useful in your future careers, as well as when applying for graduate jobs. The module consists of up to three timetabled lectures per semester plus independent stud...
You must also choose from the following modules in year 3:
This subject arises through a fusion of compound interest theory with probability theory, and provides the mathematical framework necessary for analysing such contracts, which are essentially long term financial transactions in which the various cash flow...
Synopsis: The module extends the mathematical framework developed in MATH3063 in order to enable modelling of long term financial transactions where the various cash flows are contingent on the death or survival of several lives, or where there are sever...
This module familiarises students with central concepts and findings in decision theory. It will explore in detail how decisions should be made, introducing normative benchmarks such as rationality and consistency, and will present how decisions are made,...
This module will familiarise students with various computational methods and software tools used in economics and econometrics. Topics include programming, numerical simulation and optimisation, data processing and estimation. The module will provide stud...
This module forms the first part of a dissertation in Economics. You will undertake a substantive piece of independent work in composing a literature review on your chosen research topic. You will motivate the research topic, survey and review the relevan...
This module forms the second part of a dissertation in Economics. You will undertake a substantive piece of independent work in form of composing a piece of economic research on your chosen topic. This is designed to demonstrate your ability to manage you...
This module forms the second part of a dissertation in Economics. You will undertake a substantive piece of independent work in form of composing two reports addressing specific economic questions. This is designed to demonstrate your ability to manage yo...
This module explores key questions in the area of international trade. Should countries trade freely with each other? What are the gains/losses from free trade and are they distributed evenly within the population? What are free trade agreements and what ...
The module will introduce students to key theories in the analysis of labour markets and to develop knowledge of the relevant institutional framework. The module aims to relate both theory and evidence to key policy issues.
This module provides a short course in international macroeconomics. We begin by studying exchange rates before turning to wider issues in international macro, such as the costs and benefits of participation in global capital markets; sovereign debt and c...
Following an initial discussion of the assessment and measurement of investment risk, mean-variance portfolio theory is introduced and used to determine the risk and return for a portfolio of risky assets, the composition of the optimal such portfolio, an...
Specifically the module aims to provide a bridge to the more theoretical articles in finance theory, by offering a simple framework of conceptual knowledge that enables thinking while making financial decisions. As such the module gives an appreciation of...
The BSc dissertation project is designed to allow students to do an in-depth study of an area in demography that they are particularly interested in, and to enable them to demonstrate skills and knowledge acquired throughout their undergraduate career. P...
The objectives of this module are to introduce students to the major themes of public economics and to develop their skills in using microeconomic tools to analyse public policy.
This module introduces some of the fundamental ideas and issues of lifetime and time-to-event data analysis, as used in actuarial practice, biomedical research and demography.
The main objective of this module is to expose students to the state-of-the-art discussion in a range of macroeconomic topics: growth, unemployment, taxation, and monetary policy. The approach is to study a simplified version of some widely used models in...
Learning and assessment
The learning activities for this course include the following:
- lectures
- classes and tutorials
- coursework
- individual and group projects
- independent learning (studying on your own)
Course time
How you'll spend your course time:
Year 1
Study time
Your scheduled learning, teaching and independent study for year 1:
How we'll assess you
- coursework, laboratory reports and essays
- dissertations
- essays
- group essays
- individual and group projects
- oral presentations
- self-assessment
- teamwork
- written exams
Your assessment breakdown
Year 1:
Year 2
Study time
Your scheduled learning, teaching and independent study for year 2:
How we'll assess you
- coursework, laboratory reports and essays
- dissertations
- essays
- group essays
- individual and group projects
- oral presentations
- self-assessment
- teamwork
- written exams
Your assessment breakdown
Year 2:
Year 3
Study time
Your scheduled learning, teaching and independent study for year 3:
How we'll assess you
- coursework, laboratory reports and essays
- dissertations
- essays
- group essays
- individual and group projects
- oral presentations
- self-assessment
- teamwork
- written exams
Your assessment breakdown
Year 3:
Academic support
You’ll be supported by a personal academic tutor and have access to a senior tutor.
Course leader
Thomas Gall is the course leader.
Careers
Employability is an essential part of our economics courses, ensuring you're equipped for a successful postgraduate career or further study. You can take an optional employability module, designed to boost your professional skills.
You can also take modules to enhance your employability in particular areas. For example, you could study social enterprise and finance modules that use Bloomberg trading terminals in our Financial Laboratory (FinLab) - the same technology used by city traders.
You'll graduate ready for a career in actuarial science and the economy, with transferable skills that will qualify you to work in a range of fields and industries.
Our graduates have gone on to work as:
-
economists
-
actuaries
-
statisticians
-
investment analysts
-
financial advisers
-
accountants
-
management consultants
-
business analysts
-
marketing professionals
We also offer Student Innovation Projects during term time.
Our careers and employability service will support you throughout your time as a student, and for up to 3 years after graduation. It can help you to find work placements and graduate jobs, as well as offering specialist careers advice.
Careers services at Southampton
We are a top 20 UK university for employability (QS Graduate Employability Rankings 2019). Our Careers and Employability Service will support you throughout your time as a student and for up to 5 years after graduation. This support includes:
work experience schemes
CV and interview skills and workshops
networking events
careers fairs attended by top employers
a wealth of volunteering opportunities
study abroad and summer school opportunities
We have a vibrant entrepreneurship culture and our dedicated start-up supporter, Futureworlds, is open to every student.
Work in industry
You can take a year in employment in the third year of your degree.
Fees, costs and funding
Tuition fees
Fees for a year's study:
- UK students pay £9,250.
- EU and international students pay £18,520.
What your fees pay for
Your tuition fees pay for the full cost of tuition and all examinations.
Find out how to:
Accommodation and living costs, such as travel and food, are not included in your tuition fees. Explore:
Bursaries, scholarships and other funding
If you're a UK or EU student and your household income is under £25,000 a year, you may be able to get a University of Southampton bursary to help with your living costs. Find out about bursaries and other funding we offer at Southampton.
If you're a care leaver or estranged from your parents, you may be able to get a specific bursary.
Get in touch for advice about student money matters.
Scholarships and grants
You may be able to get a scholarship or grant that's linked to your chosen subject area.
We award scholarships and grants for travel, academic excellence, or to students from underrepresented backgrounds.
Support during your course
The Student Services Centre offers support and advice on money to students. You may be able to access our Student Support fund and other sources of financial support during your course.
Funding for EU and international students
Find out about funding you could get as an international student.
How to apply
When you apply use:
- UCAS course code: L1N3
- UCAS institution code: S27
What happens after you apply?
We will assess your application on the strength of your:
- predicted grades
- academic achievements
- personal statement
- academic reference
We aim to respond to you within 2 to 6 weeks with a decision about your application.
Equality and diversity
We treat and select everyone in line with our Equality and Diversity Statement.
Got a question?
Please contact our enquiries team if you're not sure that you have the right experience or qualifications to get onto this course.
Email: enquiries@southampton.ac.uk
Tel: +44(0)23 8059 5000
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