Study Economics abroad

About this subject

  • About this subject
  • Is this the course for me?
  • Careers prospects
  • Studying Economics
  • Where to study?
Economics

Economics is the study of people and how they control and distribute the resources around them. Derived from the ancient greek term “oikonomia” which refers to the management of household and administrative tasks. Economics only became a subject in its own right in the late 19th Century when economics was viewed separately to the study of political science.

Most economic subjects can be split into two branches; micro-economics and macro-economics. Whereas micro-economics focuses on individual markets and their structures and key players, macroeconomics refers to the study of the economy as a whole on both a national and international scale.

Although economics has always been an interesting study, the current financial climate means that now, more than ever, firms are looking to hire graduates with an in-depth knowledge in economics.

Is this the course for me?

If you’re passionate about learning about society and the distribution of finite assets, then perhaps a degree in economics would be the perfect course of study for you.

However, economics is a subject that requires a lot of hard work, with students not only learning about fiscal and monetary policy, but also applying these economic principles to practical case studies. Students who perform well in this course will be able to demonstrate their ability to think logically as well as showcasing their analytical skills.

Careers prospects

The majority of students who decide to study economics do so because they have a passion for the subject. However starting salaries for economics graduates average out at £25,637 per year in the UK, so for graduates with a particularly strong degree there are a wide range of careers available to pursue.

Employers hold economics degrees in high-esteem, so those who have studied economic can easily find entry level jobs in a wide range of industries such as banking, financing, marketing and admin as well as sales. Many graduates also opt to study at a post-graduate level in order to specialise in more vocational fields such as business law.

For some students, a degree in economics does not lead to a job within the business and finance sector, but can open doors in many other industries such as journalism and even teaching. Many who study economics do so with a view to entering politics and will find jobs as research assistants within local and national governments.

Studying Economics

The majority of economics courses include the study of both macro and micro economic. Core modules covering economic theory will be required elements of the course, but students will also be expected to study further optional modules that demonstrate the impacts that different policies can have upon different aspects of the economy.

Most undergraduate courses will expect applicants to have a minimum of 3 A-levels or equivelant; with subjects such as economics, maths, English and history helping to strengthen your application. Most post-graduate courses will expect graduates to have achieved a 2.1 degree prior to starting the course and those who don’t speak English as a native language will be required to sit an IETLS test and score a minimum of 6.0 – 6.5.

The length of your course will depend on where you are studying and at what level. The majority of undergraduate economics courses will take place over a period of three years, although this will depend upon the university you choose for your place of study. Many establishments offer students the option of studying abroad or of undertaking work industry placements for those wishing to extend their degree for a further year.  Post-graduate courses can last anywhere from 1 year to a further 3.

Where to study?

Irrespective of which course you decide to study, the location of the university itself should also be taken into consideration when deciding where to study. You will be studying for at least a year, so its important that you choose somewhere you can thrive both emotionally and intellectually. Discovering new cultures and meeting new people is a huge part of student life and it is vital that you make the most of your university experience. While some students prefer to study in big cities with a more out-going social scene, others prefer smaller establishments with a more communal focus.

It is important to ensure that you attend a University that is both prestigious and has strong links within the industry you are interested in. Many top firms cultivate relationships with certain academic establishments from which they will recruit the majority of their entry level staff. This is particularly important for those looking to pursue a career in banking or finance as previous work experience will be essential in getting a job

There will be a number of module options available to study at each of the universities. Many of the core degree modules are similar between courses, but the optional modules offered may differ depending upon the institution. It is always worth investigating whether your university of choice offers you module choices that will benefit your career.

You should always look at the entry requirements and your own finances before submitting an application to your university of choice. Do you have the right grades for entry? If you’re still struggling to secure funding there are a number of options available to you including scholarships and bursaries.

What Economics courses are there?

1

Development Economics

2

Business / Industrial Economics

3

Food / Agricultural Economics

4

Econometrics

Top 10 study destinations for Economics

1
114
Malaysia
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2
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UK
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3
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Canada
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4
9
Australia
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5
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USA
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6
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Singapore
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Ireland
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Netherlands
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Germany
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Japan
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