Economics
Fact File
The Economics Tripos allows candidates a broad range of options. There is a provision for the study of politics, sociology and training in the mathematical aspects of economics.
Economics will appeal to those interested in the study of society, whatever their speciality in school may have been: students trained in mathematics and natural sciences will find as much scope for their abilities as those who have specialised in history, geography, or languages.
The Cambridge course is based on a solid core of economics, theoretical and applied. It examines issues such as Economic Growth, Inflation, Unemployment, Trade, Labour Economics, Behavioural Economics, Financial Markets, Industrial Organisation, Economic Development and Inequality.
The Economics course (or 'Tripos'), like other Cambridge Triposes is split into Part I and Part II
Part I of the Tripos (the first year) provides an interesting consolidation and extension of studies for those who have taken Economics at Advanced level, but it is in no way a requirement to have done so. It covers key topics in micro- and macro-economics, selected aspects of political economy, political and sociological aspects of economics and british economic history.
Part IIA (the second year) covers compulsory papers on micro- and macro-economics and Econometrics. The emphasis is on analytical tools and their use and provide much of the theoretical background required for Part II. In addition students can begin to explore other areas such as Economic Development, Labour Economics and Mathematics for Economists and Statisticians.
In Part IIB (the third year), there is considerably more scope for specialisation. Whilst students continue to study compulsory units in micro- and macro-economic principles, they can also study a range of topics from economic theory to mathematical economics; the economics of development to statistics; economic history to a subject in the field of sociology or politics.
A more detailed overview for prospective applicants can be found at the Economics Faculty website.
We usually aim to admit three undergraduates in Economics each year, although this will depend on the strength of the field and the space available in the College.
Where possible, candidates are encouraged to attend the Magdalene College Open Days which are organised in July. These provide the candidates with an opportunity to obtain both general information about student life at Magdalene and specific details about the Economics Tripos.
Candidates for Economics at Magdalene are judged on five main areas.
- Mathematical ability: a strong ability in Mathematics is essential.
- Examination and assessment results and predicted/final grades.
- Analytical ability: a passage is given to candidates before the subject interview which they will be expected to analyse and discuss in the interview. Candidates may also be asked to read and think about a short passage before their second interview.
- Motivation and broader interest in the subject. This may draw upon information given in your personal statement.
- School references about the candidate's academic potential and other achievements.
Candidates for Economics will normally be expected to have studied Mathematics at A-level (or equivalent). Economics at A-level will be useful but it is not essential. Further Mathematics A-level or AS-level is expected if it is offered at a candidate's school.
The minimum offer level for Economics is A*A*A, with an A* normally expected in Mathematics or Further Mathematics (and IB equivalent)
Minimum offer level grades in the IB are 42 points overall, with 7,7,6 at Higher Level.
IB applicants starting the new IB Mathematics syllabus are expected to take IB Higher Level 'Analysis and Approaches' for any course where Mathematics is a requirement. If this option is not available at your school, please contact the College for further advice and guidance.
Interviews and Assessments
Candidates invited for interview will normally have two interviews, each usually lasting approximately 20-25 minutes. One interview will be with the Director of Studies and another economist; the second is likely to be with an economist and a second Fellow from a related discipline. Applicants may be asked to read and think about a short passage before either interview.
Applicants will also need to take a written assessment. The assessment for Economics, the TMUA, is a pre-registration required assessment. This means that you will have to register to sit the assessment at an assessment centre near to you. Registration for the pre-registration required assessment is separate from your UCAS application and it is essential that you are registered by your centre before the deadline. See the TMUA website and the University Undergraduate Admissions website for further information about registering for the assessment and more details about the format of the assessment.
Please note that your performance in the written assessment will not be considered in isolation, but will be taken into account alongside all the other elements of your application.
