Economics is the study of how consumers, firms and governments make decisions that together determine how resources are allocated. An appreciation of economics and the general workings of the economy has become increasingly necessary to make sense of government policy-making, the conduct of businesses and the enormous changes in economic systems which are occurring throughout the world. Management is concerned with the effective use and coordination of materials and labour within organisations in the pursuit of the organisation’s defined objectives. It considers the interrelationship and interactions between distinct parts of an organisation, and between the organisation and its environment. Management students look at theories, models and frameworks in order to understand how managers behave and consider their role in the process of decision-making.
Graduates in Economics and Management are amongst the most sought-after in the University. Employers of Economics and Management graduates include both leading international organisations in ‘traditional activities’, as well as new start-up companies in a variety of high-tech fields. Recent graduates have secured positions in banking and finance, consultancy, research and teaching, and include a senior associate consultant and an economist for a national bank. Katharine joined the Financial Services Authority (FSA) in 2002, following graduation. After a secondment to the energy regulator Ofgem, she returned to the FSA to work as a policymaker and now specialises in negotiating and developing EU and domestic regulation of investments. Katharine says: ‘The ability to analyse information and make judgements was crucial from my very first role at the FSA – my degree gave me confidence in my own analysis, and in my ability to explain my thinking.’