Industrial Economics versus Economics career opportunities

I have been offered Industrial Economics at Nottingham University as an alternative option to Economics. When applying for jobs will this limit me to what employment opportunities I would be able to go for? Such as Banking or Financial career paths?

I have been offered Industrial Economics at Nottingham University as an alternative option to Economics. When applying for jobs will this limit me to what employment opportunities I would be able to go for? Such as Banking or Financial career paths?

I have been offered Industrial Economics at Nottingham University as an alternative option to Economics. When applying for jobs will this limit me to what employment opportunities I would be able to go for? Such as Banking or Financial career paths?

@BenRyan99 you always give helpful advice, I'm just wondering if you could help with a query I have or at least direct me somewhere. My Sons are going to Lancaster this year, one is doing the Bsc Econ, the other Ba Econ (because he just missed his maths requirement). However upon exploring the course content further it seems as though there is a requirement to take a minor in either history, politics, sociology and IR and the economics content itself seems very vague and generic. Would you suggest changing the Ba course to a 4 year to include a year in industry, so that you are at least guaranteed a consultancy placement or try and change to a course like business economics or economics and finance? The Bsc economics is full so they are not flexible with the grades at Lancaster to allow him to do straight econ so as a family we are a little unsure about what to do for the best. He did do a few modules during his partial first year at university last year ( maths for economics) and introduction to accounting and finance. He has the transcript for these, perhaps these would hold some weight in demonstrating mathematical competency? I don't know. Do you have any thoughts or advice, he is concerned that the Ba econ will just be a pointless degree. Thanks.

Hi there,

I imagine it's a bit of a difficult situation with one achieving their grades and the other slightly short, especially when applying for the same course and university.

I didn't go to Lancaster, I personally only know one person who studied economics there (the BSc), so don't think I'm a complete expert and take my word as gospel. But I flicked through the modules and yes, the BA modules make it look like a economics and social science degree rather than a normal BA Economics course - which is usually just a less quant and more applied economics course. Though to be completely honest, the BSc looks a little odd too, most BSc's are focused on Econ and maths, though this one still offers some social science options even on the BSc.

I guess fundamentally this comes down to what your son wants to do after university. Difficult to judge if a degree is worth it without knowing what their criteria for 'worth it' is. Tbh the economics and finance course looks much better than the BA, but given the BSc Economics and BSc Economics & Finance courses have the same maths grade requirements, which your son presumably missed, can't work out why this is aired as a possible alternative (unless the uni has said they're fine with letting the grade slide as it had less applicants than the straight Econ BSc?)?

In terms of changing from a BA Economics (3yrs) to a BA Economics with placement year (4yrs) so that he's guaranteed a consultancy placement, not sure if I follow this. Personally I think placement years are great, especially in economics degrees, especially at certain universities. But as far as I know, just because your course says 'with placement year', it doesn't mean its guaranteed. You still have to apply and compete with lots of other students from other unis to get the placements, they're not really organised for you. Sure the uni gives you some help, maybe a series of talks on the application process, but they don't guarantee you a placement. I know some unis with very established placement year programs like Bath have lots of arrangements with companies where each year they hire X many bath students on placement, so the bath students can apply internally just against other bath students for placements. But I wouldn't say this is the norm, nor are they guaranteed. I know quite a few people who weren't able to get placements, or anything that someone would actually want/would benefit a career.

So if he can get on the BSc Economics and Finance course then I'd go with that tbh.

Thankyou so much for your reply, I wasn't sure you'd get it as I didn't know how to tag you personally but it has been very helpful and I'm grateful for the response. I know the forums are jam-packed with questions this time of year but thanks again.

You did mention that the bsc/ba in industry doesn't guarantee a placement. Is this commonplace? Would you suggest independently looking for spring weeks etc.. before the start of the academic year and also...are you at a disadvantage on a Ba as opposed to a bsc? I appreciate certain companies will prefer applicants from certain universities, that is true but my sons are aiming to secure placements abroad where the 'russell group' name isn't as important as it is in the uk. Bottom line...they love economics...they're not looking for the high life of investment banking, they just enjoy the subject but would love to be in a consultancy role in the future. The pathway is what is important and given the limitations regarding grades...which, can be made up, im sure with a masters; it is important to know where to start. Your advice have given us food for thought and I appreciate you giving up your time to respond. Thankyou

@BenRyan99 you always give helpful advice, I'm just wondering if you could help with a query I have or at least direct me somewhere. My Sons are going to Lancaster this year, one is doing the Bsc Econ, the other Ba Econ (because he just missed his maths requirement). However upon exploring the course content further it seems as though there is a requirement to take a minor in either history, politics, sociology and IR and the economics content itself seems very vague and generic. Would you suggest changing the Ba course to a 4 year to include a year in industry, so that you are at least guaranteed a consultancy placement or try and change to a course like business economics or economics and finance? The Bsc economics is full so they are not flexible with the grades at Lancaster to allow him to do straight econ so as a family we are a little unsure about what to do for the best. He did do a few modules during his partial first year at university last year ( maths for economics) and introduction to accounting and finance. He has the transcript for these, perhaps these would hold some weight in demonstrating mathematical competency? I don't know. Do you have any thoughts or advice, he is concerned that the Ba econ will just be a pointless degree. Thanks.

Hi,
I’ve been offered exactly the same and have spent the last week reading everything in sight about it.
From what I’ve seen you have just as much chance as the Economics students, particularly in the financial/banking sectors.
The only area you may struggle would be if you wanted to go into an academic role say teaching Economics.
Having now spent time looking into this I’m pretty pleased with Industrial Economics and looking forward to starting.
May see you there 👍

Hi,
I’ve been offered exactly the same and have spent the last week reading everything in sight about it.
From what I’ve seen you have just as much chance as the Economics students, particularly in the financial/banking sectors.
The only area you may struggle would be if you wanted to go into an academic role say teaching Economics.
Having now spent time looking into this I’m pretty pleased with Industrial Economics and looking forward to starting.
May see you there 👍

How is the course? Thinking of applying