Profile of a perfect application - Economics

Over the next year we’ll be publishing a series of articles explaining how you can put together a perfect application for Oxford or Cambridge in various subjects. As applications increase in difficulty there is an ever-more important drive towards perfection – anything less than this might see a really good candidate just fall short of the necessary standard. By reading this series you’ll understand what it takes and, hopefully, put it into motion yourself!

Economics

Cambridge describes their course as providing a sound footing of core and applied economics knowledge. You’ll master the concepts, history and modern-day uses of this fascinating area. The course offered by Cambridge is heavily numeric and if you’ve got a solid foundation of maths behind you can make a great choice. Oxford in comparison doesn’t offer pure Economics, but instead offers a smattering of combined courses such as “Economics and Management” and Politics, Philosophy and Economics”. Oxford focuses on how these subjects overlap and intertwine whilst giving more time to the social elements of the course. These courses have set many successful politicians and businesspeople on the right path!

Grades and Subject Choices

The right subject choices depend on which your final choice of major, but getting the right selection is vital. Here are some of our top tips:

Projects

There are a vast array of potential projects that Economics applicants can choose from. Whether it’s using words or numbers, the key is to plenty and win prizes. You’ll need at least 10 different projects and activities to be considered by Oxbridge. Here are some examples of good prizes to enter if you’re aiming for perfection:

The John Locke

Entry is open to students from any country and any school. Each essay should address only one of the questions in your chosen subject category, and must not exceed 2000 words. There is a prize of £100 for the best essay, and the essay will be published (with the authors' permission) on the Institute website.

You’ll need to be commended at the very least in the economics section. To do this you have to take one of two approaches. Option one is to write a very classic and highly analytical essay that has a perfect grasp of the theory, an interesting structure and word-perfect examples. You can’t put a foot wrong with this approach as most students will try this way. You have to wow the judges with your knowledge and use cutting-moment examples to back up your ideas. You’ll need to utlise your maths skills with your own data set (compiled by you or found online) to get a top prize. The second option is to write an unusual piece, not dissimilar from the style of writing you’d read in ‘The Drunkards Walk’. It should scan like a Shakespearian text and present a novel take on the topic that others cannot begin to fathom.

Maths Olympiad

The International Mathematical Olympiad (IMO) is the World Championship Mathematics Competition for High School students and is held annually in a different country. The first IMO was held in 1959 in Romania, with 7 countries participating. It has gradually expanded to over 100 countries from 5 continents. The IMO Board ensures that the competition takes place each year and that each host country observes the regulations and traditions of the IMO. Sample questions are below.

Further examples include:

· Maths Kangaroo

· Caribou

· Young Economist of the Year

· LSE Student Union Essay Competition

· The Monetary Policy Essay Prize

Check out our website for more!

Admissions Tests

Applicants are going to be set entry tests for any of these courses. The score you get is essential for winning a place. Score above 70% and you’ll be taking your first step on the highways towards getting an offer. If you score less than 67% your chances are low, and less than 65% will make getting an offer impossible. You must aim for 70% as a minimum and a ‘perfect applicant’ will get 72% or more. The margins are small!

So what tests could you be asked to sit and what will they ask you?

Applicants to Cambridge will sit the Test of Mathematics University Assessment (TMUA). Focusing on mathematic calculation and reasoning skills, you’ll sit two 75-minute assessments: Thinking and Reasoning. Both are made up of 20 multiple choice questions. You’ll be tested in Algebra and Functions, Sequences and Series, Coordinate Geometry, Trigonometry, Exponentials and Logarithms, Differentiation, Integration, Graphs of Functions, Numbers, Measures, Statistics, Probability, Logic and Proofs.

At Oxford, you’ll be faced with the TSA. This is a little lighter on the numbers and is used by the majority of subjects at Oxford. E&M requires Section 1 only whilst PPE requires both Section 1 and Section 2. Section 1 is a 90-minute multiple-choice test that will assess problem solving, reasoning, and critical thinking. Section 2 is a writing task, that seeks to evaluate a candidate’s ability to organise ideas in a clear and concise manner, and communicate them effectively in writing. Questions are not subject-specific and candidates must answer one question from a choice of four.

Interviews

By far and away the most interesting part of the interview process, a perfect applicant is expected to have the right approach to answering questions, and manage to obtain the correct answer in 60% of the scenarios with little or no assistance. A further 20% should be accessible with some coaching from the interviewer whilst the very best candidates will be able to access all answers with some guidance.

For Economics at Cambridge, candidates can expect 5 or 6 questions that are predominantly numbers-based. You should be able to get the answers for all 5 with coaching. For PPE or E&M questions will be more discussion-based. A single topic may last for a full 30-minute interview. Here are some examples below: