Programme Specification (2024-25)

Programme Information

Programme Title Programme Code HECoS Code

For Registry Use For Registry Use

BSc Economics, Finance and Data Science
Only Only

Total Credits
Award Length of Study Mode of Study Entry Point(s)
ECTS CATS

BSc 3 Academic Years Full-time Annually in October 180 360

None – exit award

DipHE N/A N/A 120 240
only

None – exit award

CertHE N/A N/A 60 120
only

You must apply to and join the BSc. The DipHE and CertHE are exit awards and are not available for entry.

Ownership

Imperial College Business

Awarding Institution Imperial College London Faculty
School

Imperial College Business

Teaching Institution Imperial College London Department
School

South Kensington
Main Location(s) of
Associateship N/A Campus & White City
Study
Campus

External Reference

QAA Subject Benchmark Statements:

Economics
Finance
Computing
Relevant QAA Benchmark Statement(s) and/or other
UK external reference points:
external reference points
BSc Economics (LSE)
BSc Finance (LSE)
BSc Data Science (LSE)
BSc Computer Science and Economics (St Andrews)
BA Economics (Cambridge)

FHEQ Level BSc Levels 4-6

EHEA Level 1st Cycle

External Accreditor(s) (if applicable)

External Accreditor 1: EQUIS

Accreditation received: 2006 Accreditation renewal: 2025

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External Accreditor 2: AACSB International

Accreditation received: 2012 Accreditation renewal: 2028

Collaborative Provision

Collaborative partner Collaboration type Agreement effective Agreement expiry date

date

N/A N/A N/A N/A

Specification Details

Programme Lead Dr Pedro Rosa Dias

Student cohorts covered by specification 2024-25 entry

Date of introduction of programme October 23

Date of programme specification/revision November 24

Programme Overview

The BSc Economics, Finance and Data Science is set against the backdrop of increasing demand for graduates
with academic training in economics and finance whose analytical skills are complemented with knowledge of
data science and coding capabilities. Whilst economics and finance form the basis of rigorous undergraduate
programmes in leading institutions across the sector, these have not historically included the study of data
science as part of the curriculum, leaving graduates to develop these skills independently.

The BSc Economics, Finance and Data Science degree draws on the academic expertise of all Departments in
Imperial College Business School (Economics and Public Policy; Finance; Analytics, Marketing and Operations;
Management and Entrepreneurship) to offer you the rigorous study of economics and finance, enriched through
the study of data science and its applications within these disciplines. A further dedicated sequence of modules
develops the essential skills identified by employers.

Through the study of economics you will analyse how households, firms and governments behave and interact to
determine income, wealth and well-being, and hence inform both business decisions and public policy design.
Years 1 and 2 include a theoretical exploration at the individual level through compulsory Microeconomics
modules, and at the aggregate level through compulsory Macroeconomics modules. The importance of evaluating
frameworks against an evidence base is emphasised throughout, requiring you to engage in quantitative data
analysis.

Through the study of finance you will develop a core understanding of financial markets, financial institutions as
well as the design of financial instruments. In Accounting, you will construct and interpret financial statements,
while in Corporate Finance, you explore how firms can maximise value through financing and investment
decisions, paving the way to finance options in Year 3.

Both finance and economics interact heavily with mathematical and statistical methods. Through compulsory
Econometrics modules, you develop an in-depth theoretical understanding of empirical methods relevant to
economics and finance, alongside key applications enhanced by the study of data science. You will learn to
programme from the outset, which alongside modules in Machine Learning, Databases and Cloud Computing, will
offer the tools with which to address a wide range of empirical questions, using both small and large datasets.

The core curriculum is further enhanced by a cross-cutting module designed to develop skills identified as
essential by employers, such as strong communication and presentation skills (e.g. the ability to communicate
ideas visually and verbally), effective teamwork in diverse organisations, critical thinking, design thinking and a

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creative mindset to problem solving. It integrates a new type of management skills training focused on
Leadership, Ethics, Awareness, Diversity and Societal Impact (LEADS).

In your final year, you will be able to choose from specialist electives in Economics, Finance, Data Science. These
reflect the broad scope of expertise within the Business School, in areas such as health, energy and climate
change. The final year structure is sufficiently flexible to allow you to specialise in either of the three fields
through appropriate selection of Year 3 modules, so as to enable access to leading Masters programmes in either
of the three disciplines. You can also continue with a mix of electives across the three areas of study if preferred.

Learning Outcomes

Upon successful completion of FHEQ Level 4 of BSc Economics, Finance, and Data Science programme
students will:

• Comprehend a range of microeconomic concepts and modelling frameworks and be able to competently
apply them to analyse a range of decision problems of consumers and firms, using appropriate quantitative
methods, and to evaluate the effects of economic policy on decisions and outcomes.
• Structure and solve economic and finance problems in mathematical format, as well as to interpret these
mathematical solutions in terms of their “real world” economic context. Understand and utilise statistical
inference to in the context of economics and finance, including probability distributions, confidence
intervals, hypothesis testing and correlation analysis.
• Develop programming skills and the ability to “data wrangle” and visualise data. Understand and implement
some commonly used data structures.
• Demonstrate knowledge and understanding of core macroeconomic, accounting and financial concepts
and principles with reference to real life applications. Use basic statistical and computational techniques
(e.g. using R or Python) to produce and analyse macroeconomic, financial and accounting data and apply
basic problem-solving skills and mathematical techniques to analyse basic macroeconomic and financial
models.
• Develop intellectual, cognitive and transferable skills such as communication and analysis of data, theory
and evidence.
• Apply innovative and creative thinking and problem-solving skills to complex, ambiguous, uncertain, and
systemic problems. Explore, define and reframe problems, and generate solutions or alternative
approaches for existing ones.

Upon successful completion of FHEQ Level 5 of BSc Economics, Finance, and Data Science programme
students will:

• Comprehend microeconomic modelling frameworks that relate to the interaction of decision-makers

within a market and otherwise and be able to appropriately apply these to different contexts and to evaluate
policy issues, interpret analytical findings, and critically evaluate these against relevant evidence.
• Demonstrate understanding of causal inference and the ability to apply econometric methods in the
context of economics and finance, including randomised experiments, matching, regression analysis,
instrumental variables and two-stage least squares, as well panel data and time series analysis.
• Formulate and solve different classes of optimisation problems via software. Demonstrate ability to run
Monte-Carlo simulation. Understand core problems of machine learning (supervised and unsupervised
learning) and to implement standard algorithms from ML. Demonstrate knowledge of data-base theory and
different approaches to storing data.
• Recognise and explain the importance and practical implications of risk and uncertainty in
macroeconomics and finance. Define and describe a selection of basic dynamic macroeconomic and
financial models, together with their applications to asset pricing, portfolio choice and macroeconomics.
Demonstrate an understanding of corporate financial decisions, such as capital structure and discounted
cash flow analysis.
• Apply relevant econometric and computational methods to develop computer code designed to analyse
data/models and assess the effectiveness of macroeconomic policies and financial decisions. Further
develop intellectual, cognitive and transferable skills, including written and verbal communication.
• Demonstrate the ability to articulate ideas and concepts visually and verbally, embracing uncertainty and
seeking new opportunities by exploration and experimentation. Understand how to communicate and
perform effectively within a team and within an organisation.

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Upon successful completion of FHEQ Level 6 of BSc Economics, Finance, and Data Science programme
students will:

• Have developed knowledge in a number of specialised areas in microeconomics and be able to synthesise
and evaluate research literature in these areas, proficiently analyse microeconomic issues using advanced
analytical methods and creatively formulate and address research questions pertaining to these areas.
• Demonstrate the ability to use state-of-the-art econometrics and data science methods to address applied
problems in economics and finance. This arsenal of methods may encompass panel data (static and
dynamic models), fixed and random effects models, the estimation of local average and marginal treatment
effects using instrumental variables, GMM, textual analysis and big data.
• Define, describe and compare dynamic macroeconomic and financial models by using appropriate
econometric, machine learning and computational methods, to provide economic policy and financial
guidance. Apply financial economics to selected topics, such as: asset management, derivatives, risk
management, banking and financial intermediation, corporate governance, and dynamic asset pricing.
• Justify, interpret and communicate insights from the evaluation of real-world problems in finance and
economics. Transfer the analytical skills developed in the context of economics to other settings. Develop
system thinking and apply empathy to define solutions via leadership, ethics, awareness, diversity and
societal impact (LEADS).

The Imperial Graduate Attributes are a set of core competencies which we expect students to achieve through
completion of any Imperial degree programme. The Graduate Attributes are available at:
https://www.imperial.ac.uk/about/education/our-graduates/

Entry Requirements

A-levels: A*AA with an A* in Mathematics.

Further Mathematics is useful, but not required.
Further Mathematics is acceptable for entry in combination with
Mathematics and one other A-level from traditional subjects.

IB Diploma: Minimum 39 points including 7 in Mathematics at higher

Academic Requirement
level, with 6 in two further subjects at higher level. Either Mathematics
Analysis and Approaches or the Applications and Interpretation syllabi will
be accepted at higher level with no preference

Or equivalent comparable qualifications recognised by the

university.

Non-academic Requirements N/A

Higher requirement (UG)

English Language Requirement
IELTS score of 7.0 overall (minimum 6.5 in all elements)

All applicants will be required to take an admissions test. Selected

Admissions Test/Interview
applicants may be invited to an interview, either in person or online.

Exemptions from some Chartered Institute of Management Accountants (CIMA) professional examinations are
possible through the Accredited degree accelerated route.

Key CIMA contact:

Jason Nye Manager, Student Recruitment — Management Accounting Association | AICPA | CIMA M: +44 (0)
7595 565 443 [email protected]
The Helicon, One South Place, London, EC2M 2RB CIMA: cimaglobal.com/Contact-us/

Learning & Teaching Approach

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Scheduled Learning & Teaching
You are taught through a combination of lectures, tutorials, as well as computing labs. Tutorials enable you to
discuss and apply your understanding of topics covered in lectures in interactive small group sessions. You will
develop coding skills through computing lab sessions, which are used in activities and projects throughout the
degree.

The Virtual Learning Environment (VLE) serves as a repository for all teaching materials including recordings of all
lectures, lecture slides, problem sets etc, while you have the opportunity to interact with your peers and teachers
through online discussion forums. Learning technologies support teaching activities, such as in-class polling and
online self-diagnostic quizzes.

No one set of teaching and learning activities or methods is uniquely suitable for the study of modules taken on
the BSc Economics, Finance and Data Science. The approach to teaching in the Business School is student-
focused and our multi-mode approach accounts for the diverse background and aspirations of your cohort. The
design of teaching and learning activities will strike the appropriate balance between developing theoretical
understanding and experiential learning through applications, enhanced through digital innovation.

Diverse teaching methods will be adopted and enhanced, as appropriate for each discipline and module, through
the use of digital media, in-class activities such as classroom games, or flipped teaching approaches. Combined
with extra-curricular opportunities and the vibrant environment of the Business School, you can expect an
enriching student experience.

Independent Learning
You are expected to spend significant time on independent study outside of in person and online contact time,
while supported and guided by academic staff. Independent study is both a crucial determinant of academic
performance, as well as important for developing autonomy, self-motivation and self-confidence, all of which
prepare you for professional practice where you will be expected to manage your own continued professional
development.

You can also expect to spend part of your independent study time interacting with your peers for the
development of group projects, as well as working within study groups. This will serve to make the degree
experience more engaging, whilst also embedding important teamwork and leadership skills that will prepare you
for your professional practice and which are valued by employers.

Independent learning activities that you are expected to undertake will typically include studying teaching and
learning resources on the VLE, reviewing lecture recordings and developing notes, working through problem sets,
engaging with coding activities, reading books, reports and journal articles, undertaking research, working on
individual and group projects, working on coursework assignments and revising for examinations.

Overall Workload
Your overall workload on the BSc Economic, Finance and Data Science consists of scheduled teaching and
learning sessions and independent learning.

At Imperial, each ECTS credit taken equates to an expected total study time of 25 hours. Therefore, the expected
total study time is 1500 hours per academic year. While contact hours may vary depending on the specific
modules taken, you can expect to spend around 25% of study time on lectures, seminars and other scheduled
activity (around 400 hours) and around 75% of study time on independent study (around 1100 hours). In the final
year, those who select a quantitative project can expect to spend more time engaging in research and data
analysis.

Assessment Strategy

Assessment Methods

A variety of assessment methods will assess your understanding. Assessments are grouped as formative and
summative.

Formative assessments do not contribute to the module mark but provide information on your progress and are
opportunities for feedback and reflection that guides future learning. This enables you to improve your
understanding as well as your skills, in order to achieve a better performance in summative assessments, which do

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count towards module marks. Formative assessments also provide feedback for teaching staff, which enables
teaching and assessment to evolve and improve.

Summative assessments are used to assess your learning against the intended module learning outcomes and
contribute towards the achievement of the programme learning outcomes, detailed above. There is summative
assessment during and/or at the end of each module and these assessments contribute towards mark for each
year, and thus towards degree classification.

No one set of assessment methods is uniquely suitable for assessing your learning against learning outcomes for
the BSc Economics, Finance and Data Science. You will broadly be assessed through a mix of individual and group
coursework activities as well as unseen examinations. While in most modules the weighting of unseen examination
constitutes the majority, some modules may be entirely or largely coursework-based.

Examples of assessed Coursework

• Problem sets
• Project reports
• Oral presentations
• Poster presentations

Examples of Examinations
• In class or online tests
• Final unseen examination

Academic Feedback Policy

Feedback can take many forms. During lectures and classes, you will receive verbal feedback on the ideas that you
contribute to discussions and on in-class presentations. The online teaching materials contain exercises with built-
in, immediate, feedback that is received when you submit an answer.

The Business School aims to provide feedback on coursework within two weeks. This will be sent in written form to
the individual or the group, as appropriate. Academic staff may also provide verbal feedback of a general nature in
class or posted to our virtual learning environment. Office hours offered on all modules also provide an opportunity
for individual feedback.

The Business School aims to provide provisional examination grades twenty-five days from the end of the
examination period. General feedback to the cohort is provided on examination performance, usually in written
form. If you need to resit an examination, you may also approach the module leader for feedback on your
performance in the first sitting.

You will be provided with a percentage grade for coursework and examinations with the final numerical mark only
confirmed after the Board of Examiners Meeting and then released by Registry. Grades received during the year are
deemed provisional until confirmed by the Final Board of Examiners.

Imperial’s Policy on Academic Feedback and guidance on issuing provisional marks is available at:
www.imperial.ac.uk/about/governance/academic-governance/academic-policy/exams-and-assessment/

Re-sit Policy

Imperial’s Policy on Re-sits is available at: www.imperial.ac.uk/about/governance/academic-

governance/academic-policy/exams-and-assessment/

Mitigating Circumstances Policy

Imperial’s Policy on Mitigating Circumstances is available at: www.imperial.ac.uk/about/governance/academic-

governance/academic-policy/exams-and-assessment/

Additional Programme Costs

This section should outline any additional costs relevant to this programme which are not included in tuition fees.

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 Approximate
Description Mandatory/Optional
cost

N/A N/A N/A

Important notice: The Programme Specifications are the result of a large curriculum and pedagogy reform
implemented by the Department and supported by the Learning and Teaching Strategy of Imperial College London.
The modules, structure and assessments presented in this Programme Specification are correct at time of publication
but might change as a result of student and staff feedback and the introduction of new or innovative approaches to
teaching and learning. You will be consulted and notified in a timely manner of any changes to this document.

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 Programme Structure 1

Year 1 – FHEQ Level 4

You will study all core and compulsory modules.

Core/
Code Module Title Compulsory/ Term Credits
Elective

BUSI40001 Mathematical Foundations Core AU 7.5

Core
BUSI40002 Probability and Statistics AU 7.5

BUSI40003 Introduction to Data Science Core AU 7.5

BUSI40004 Big Issues in Economics and Finance Compulsory AU 5

BUSI40005 Accounting Compulsory SP 5

BUSI40006 Microeconomics 1 Compulsory SP 7.5

BUSI40007 Macroeconomics 1 Compulsory SP 7.5

BUSI40008 Data Structures and Algorithms Compulsory SP 7.5

BUSI40009 Essential Skills 1: Creative Problem Solving Compulsory SP 5

Credit Total 60

Year 2 - FHEQ Level 5

You will study all compulsory modules.

Compulsory/
Code Module Title Term Credits
Elective

BUSI50001 Microeconomics 2 Compulsory AU 7.5

BUSI50002 Econometrics 1 Compulsory AU 7.5

BUSI50003 Machine Learning Compulsory AU 7.5

BUSI50004 Corporate Finance and Capital Markets Compulsory AU 7.5

BUSI50008 Macroeconomics 2 Compulsory SP 7.5

BUSI50009 Econometrics 2 Compulsory SP 5

BUSI50005 Operations Research Compulsory SP 7.5

BUSI50006 Databases and Cloud Computing Compulsory SP 5

Essential Skills 2: Emotional Intelligence in

BUSI50007 Compulsory SP 5
the Workplace

Credit Total 60

1 Compulsory modules are those which are designated as necessary to be taken as part of the programme syllabus. Compulsory modules
can be compensated. Elective modules are those which are in the same subject area as the field of study and are offered to students in order
to offer an element of choice in the curriculum and from which students are able to select. Elective modules can be compensated.
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Year 3 - FHEQ Level 6
You will select 6 Electives from all academic areas, including specialised in Economics, Data Science or
Finance

Compulsory/
Code Module Title Term Credits
Elective

BUSI60001 Laboratory of Methods in Economics, Compulsory AU&SP 10

Finance and Data Science

BUSI60002 Final Project Compulsory SP&SU 10

BUSI60003 Essential Skills 3 Compulsory AU 5

Various I-Explore Compulsory AU/SP 5 or 7.5

BUSI60004 Industrial Organisation Elective AU 5

BUSI60005 Game Theory Elective AU 5

BUSI60006 Energy Economics Elective SP 5

BUSI60007 Health Economics Elective SP 5

BUSI60009 Public Economics Elective SP 5

BUSI60008 Monetary Economics Elective AU 5

BUSI60010 Applied Econometrics Elective AU 5

BUSI60011 Advanced Machine Learning Elective AU 5

BUSI60012 Text-Mining in Economics and Finance Elective SP 5

BUSI60014 Marketing Analytics Elective SP 5

BUSI60013 Organisational Behaviour Elective SP 5

BUSI60015 Innovation and Entrepreneurship Elective AU 5

BUSI60016 Asset Pricing Elective AU 5

BUSI60017 Advanced Corporate Finance Elective AU 5

BUSI60018 Risk Management Elective SP 5

BUSI60019 Advanced Macroeconomics Elective AU 5

BUSI60020 Climate Change and Finance Elective SP 5

BUSI60021 Project Management Elective SP 5

Credit Total 60

Important notice: The range of electives available in a given year is dependent on staff availability (influenced
by sabbaticals, retirements and resignations). Where possible, you will be given notice of the available options
ahead of making module choices.

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Progression and Classification

Progression

In order to progress to the next level of study, you must have passed all modules (normally equivalent to 60 ECTS)
in the current level of study at first attempt, at resit or by a compensated pass.

The overall weighted average for each year must be 40.00%, including where a module(s) has been compensated,
in order for you to progress to the next year of the programme.

Classification

The marks from modules in each year contribute towards the final degree classification.

In order to be considered for an award, you must have achieved the minimum number of credits at the required
levels prescribed for that award and met any programme specific requirements as set out in the Programme
Specification.

Your classification will be determined through:

i) Aggregate Module marks for all modules

ii) Year Weightings

This is known as the Programme Overall Weighted Average.

For this award, Year One is weighted at 7.50%, Year Two at 35.00% and Year Three at 57.50%.

The university sets the class of undergraduate degree that may be awarded as follows:

i) First 70.00% or above for the average weighted module results

ii) Upper Second 60.00% or above for the average weighted module results

iii) Lower Second 50.00% or above for the average weighted module results

iv) Third 40.00% or above for the average weighted module results

Programme Specific Regulations

N/A

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Supporting Information

The Programme Handbook is available at: https://www.imperial.ac.uk/business-school/programmes/programme-

information/

The Module Handbook is available via the Hub once the module commences. Module descriptions are available in
the Programme Handbook.

Imperial’s entry requirements for postgraduate programmes can be found at:

www.imperial.ac.uk/study/pg/apply/requirements

Imperial’s Quality & Enhancement Framework is available at:

www.imperial.ac.uk/registry/proceduresandregulations/qualityassurance

Imperial’s Academic and Examination Regulations can be found at:

www.imperial.ac.uk/about/governance/academic-governance/regulations

Imperial College London is an independent corporation whose legal status derives from a Royal Charter granted
under Letters Patent in 1907. In 2007 a Supplemental Charter and Statutes was granted by HM Queen Elizabeth
II. This Supplemental Charter, which came into force on the date of Imperial's Centenary, 8th July 2007,
established Imperial as a University with the name and style of "The Imperial College of Science, Technology and
Medicine".
www.imperial.ac.uk/admin-services/secretariat/college-governance/charters/

Imperial College London is regulated by the Office for Students (OfS)

www.officeforstudents.org.uk/advice-and-guidance/the-register/

This document provides a definitive record of the main features of the programme and the learning outcomes that
you may reasonably be expected to achieve and demonstrate if you take full advantage of the learning
opportunities provided. This programme specification is primarily intended as a reference point for prospective
and current students, academic and support staff involved in delivering the programme and enabling student
development and achievement, for its assessment by internal and external examiners, and in subsequent
monitoring and review.

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