In today’s increasingly digital world, the boundary between economic, business, and technological issues is becoming ever more fluid. Key trends such as artificial intelligence, machine learning and the code-ification of money, require businesses and policy-makers to transform research into commercially and socially successful products and services. Technology Policy Expert Alec Ross explores these trends in his influential book ‘The Industries of the Future’.
In order to successfully commercialise modern day innovations, a new type of university graduate and manager is needed: one who can operate successfully at the interface of economics, business, mathematics, and computer science. To become effective leaders globally, these graduates must be suitably equipped to contribute confidently and effectively at the interface of technology and economic efficiency. They need to become experts in process and product innovation.
But how can the best of traditionally separate academic disciplines be transformed into a cohesive cross-disciplinary educational offering that prepares future leaders for an interconnected world? A world in which it is increasingly important for managers of innovative industries to have a strong quantitative understanding alongside commercial experience.
The answer is the University of Bath’s new MSc in Economics for Business Intelligence and Systems (EBIS), which is designed to educate and prepare economically literate scientists and scientifically confident economists who can deliver on the grand innovation challenges of our time.
The University of Bath’s EBIS programme aims to be a ‘go-to’ provider of postgraduate study and integrated career development for managers of innovative technologies and industries. It is designed to equip graduates with skills that are applicable across a broad range of sectors and business types; from start-ups to consultancies, to government departments and large commercial companies. EBIS graduates will be prepared to apply the latest economic, business, and mathematical concepts and methods, to model and evaluate issues that arise in the day‐to‐day running of businesses and organisations within the financial sector, manufacturing companies and the technology industry.
They will have a rigorous understanding of the economic and business applications of a wide range of formal techniques – a capacity to understand the context and complexity of their work, and be able to critically interpret, explain and succinctly communicate analytical evidence. The course will encourage students to bring together knowledge from the various sub‐disciplines of the programme in an interdisciplinary manner. The importance of this broad set of quantitative skills, coupled with the strong disciplinary grounding in economics, should not be underestimated.
The trend towards automation and data exchange (Industry 4.0) means it is increasingly significant for businesses to innovate and develop. To allow them to do this, they must recruit Economists who are equipped to work within this rapidly changing environment. The EBIS Master’s programme at the University of Bath aims to cover industry perspectives and application so that graduates are ready to face multidisciplinary challenges.
This is further supported by the ‘Grand Challenges’ laid out in The UK Government’s Industrial Strategy, which outlines the desire for the UK to be at the forefront of the Artificial Intelligence and Data Revolution. To achieve this, our future business leaders should have a solid foundation in areas such as data analysis, data mining, software development and statistics.
To support the requirement for practical experience, students of the EBIS programme at the University of Bath will have the opportunity to apply what they have learnt to a consultancy assignment with one of Bath’s partner employers. This ‘Practice Track Project’ begins with an intensive and immersive, week-long residential at the University’s Pall Mall facilities in London.
All of the above in combination allow the EBIS programme to train highly skilled graduates in the three areas that a broad cross-section of employers said they valued highly in the Employers Report 2018 by Rethinking Economics: the application of economic knowledge, communication skills, and intellectual abilities.
The EBIS programme stands out from the usual Economics masters as it has been designed to develop key skills through the cross-disciplinary nature of its curriculum. For each discipline represented, well-known employers have contributed to the programme content which is then delivered by academics, who are specialists in their field. The result is a coherent, mutually complementary mix of technical and soft skills, taught by a dedicated team.
Studying this innovative new course at the University of Bath will provide graduates with sought-after credentials across multiple industries, sectors and roles. With a strong disciplinary grounding in both quantitative economics and business, students will be uniquely qualified for roles such as data analysts, credit analysts, financial analysts, economists or business analysts in a wide range of companies. This includes technology companies, consulting firms, financial organisations, as well as other business and financial sectors, government and academia.
Find out more about the MSc Economics for Business Intelligence and Systems.