Financial growth chart with upward arrows superimposed on a city skyline. Background features a world map and stock data.

Minor in
Economics

The Minor in Economics will give you an essential insight into micro and macroeconomics in your first two courses, then expands to give you the full choice of finance or economics courses in the last four.

This minor is not available to students majoring in Economics and Finance

Programme Structure

A minor is an optional subject of specialisation within the undergraduate degree, outside of the undergraduate major course of study, consisting of at least 12 US / 48 UK credits, from FHEQ Levels 4-6, with at least 2 courses from L5/L6. Undergraduates who add a minor to their major degree programme will normally need to complete more than the minimum 120 US/480 UK credits required for graduation. No more than one course (4 US/ 16 UK credits) may overlap within a degree between a student’s major, Liberal Arts Core and any minor. Students must follow the minor requirements for their academic year of admission, or the year of the introduction of the minor, if this is later than the year of admission. Upon graduation, any minor successfully completed is recorded on the student transcript alongside the major.

Minor in Economics

US Credits

UK Credits

  • ECON 4101 Introduction to Economics and Finance

    This module provides students with an introduction to various economic and financial concepts, demonstrating how these can be applied to better comprehend the world around them. It enhances students' understanding of the external factors that influence businesses, as well as financial aspects that are significant within a business context. It starts with an understanding of economic thought and development, and it expands on modern economic and financial issues the firms face. It is a solid foundation course for the basic ideas and applications of economics and finance.  

4 16
  • ECON 5102 The Macro View of the Economy

    This class aims to analyse broader economic problems that have to do with aggregate economic activity. Analysis of social problems like unemployment, inflation, inequality, growth and development will be examined. Moreover, this class will offer a detailed overview of public finance, budgeting, and debt. To get a holistic view of the Macro aspects of the economy, central banking, exchange rates and the open economy will be discussed in detail. Illustrative empirical material is drawn from a wide range of economies. The issue-based approach enables students to understand the techniques and relevance of conceptual analysis.

4 16
  • ECON 5101 Managerial Economics

    Managerial Economics explores the behaviour of firms and their competitive dynamics within various industry environments. It examines how firms operate under different market structures—such as competition, oligopoly, and monopoly—and evaluates their use of both price and non-price strategies. The module also investigates the impact of market structure and strategic firm decisions on performance, efficiency, and social welfare, using neoclassical competition theories as well as critiques, including dynamic and evolutionary perspectives. In addition, this module covers policies aimed at promoting competition and regulating firm behaviour, such as merger policies, anti-collusion measures, patents, Intellectual Property Rights (IPR), mixed oligopolies, and public ownership using game theory.

4 16
  • POLS 5103 Capitalism and its Critics

    This course examines the historical development of thought about capitalism. Liberal, mercantilist and radical political economy in the 18th and 19th centuries is covered, along with a range of 20th century scholars, such as Adam Smith, Karl Marx, J.M. Keynes and Joseph Schumpeter. The object of study in the course is theories of capitalism, and addressed themes include the nature of market society, the relationship between state and market, economic growth and economic crises, market failure and government failure. These themes enable the course to engage with the relations between capitalism and other systems such as democracy, fascism, communism, racism, anti-Semitism, slavery and patriarchy

4 16
  • POLS 6102 Sustainable Development

    This course introduces students to the process of development project evaluation, in the context of the theory and practice of sustainable development. The course enables students to focus on the political, social and economic complexity of managing a specific sustainable development in the developing world. Methods of evaluation are explored, decided upon and utilised in the production of a Project Evaluation Document (PED) for a sustainable development project of choice. Issues such as livelihoods, gender, environmental impact, measurement, participation and consultation processes are raised, though the context varies across urban/rural and blue-green-brown issues depending on the specific project chosen for evaluation.

4 16
  • ECON 6101 Econometrics

    This course bridges the gap between econometric theory and statistics and applied software techniques. Provides the necessary background to assess economic decisions and run linear regression, understanding the origins of the technique. Moreover, this course has an applied course dimension in modelling data via software applications, particularly time series data, as a practical guide to quantitative research in Economics and Finance.

4 16
  • ECON 6102 Public Economics

    This is a course in theoretical and applied public economics using microeconomic theory. The course addresses the theoretical analysis of market failure, public finance, taxation and expenditure systems in modern economies and discusses philosophical issues of economic welfare. Inequality, social mobility, and welfare frameworks are part of this course.

4 16
Minor Requirements 12 48

The University reserves the right to cancel or replace programmes and/or courses for which there is insufficient enrolment or concerns about academic standards, or for which the University cannot provide adequate teaching resources. Reasonable and appropriate effort is made to ensure that the content of courses corresponds with the descriptions in the University’s Programme and Course Listings.

For more detailed information on each of the course specifications, please visit our webpage here.

What is the Liberal Arts?

We understand that not everyone is familiar with the Liberal Arts education system. That is why we have produced a short guide explaining the structure at Richmond as well as the benefits.

Three illustrations: a group of three people, one person presenting to boards, and another hiking towards mountains on a curved path.

A person wearing glasses and a suit with a red tie stands confidently outdoors, arms crossed, surrounded by lush green trees.

What our students say

“I initially chose to study Political Science and History however, I decided to switch majors because I felt that the Economics programme would provide me with the skills needed to work in my chosen industry.

I got a lot of support from the school to come and study here which is something I consider very important coming from a developing country (Dominican Republic).
Perhaps the strongest quality the university has is that the teachers are very approachable and accessible. I have a good working relationship with my professors which has enhanced the learning experience and the way I feel about my classes and education in general.

I would recommend students with an international background to come to Richmond, and they will have a lot of support from the administration and teachers. The key thing here is to tap into these resources to enrich your university experience in a truly unique way.”

– Carlos Francisco Restituyo Vassallo, BA Economics