Economics Degrees

For those who are passionate about the business and finance sectors or avid followers of international news, a degree in economics may be the right choice. Economics is a highly diverse subject which focuses not only on money but also how money affects populations and how different economies influence each other. Read our guide to studying economics at university, including an overview of common course topics, specialisations and career options. 

Course Content 

Studying economics will allow students to learn about how money influences the world we live in. The exact material will vary from university to university but common topics that students can expect to cover include: 

• Mathematics 

• Microeconomics 

• Macroeconomics 

• Banking 

• International trade 

• Statistics 

• Sustainable development 

• History of the economy 

• Business practices 

• Accounting 

• Legal principles 

Entry Requirements 

The entry requirements will vary depending on the university and country you study in. However, basic qualifications in maths and English, or the national equivalent if English is not the primary language, are required. 

Some of the most important qualifications that hopeful economics students should focus on are maths, business, and statistics. Achieving a high grade in any of these subjects, will make an application more appealing to universities. 

Course Structure and Assessment Methods 

An economics course will be made up of compulsory modules, which may include microeconomics, macroeconomics, history of economics and forecasting. There will also be a range of elective modules in topics that students can choose from. 

Assessment methods may include long-form essay coursework and research projects as well as traditional written exam papers. 

The exact course structure and assessment methods will vary depending on the course and the university you attend. All the necessary information should be available on a university’s website so ensure that you do plenty of research before applying.

Specialisations 

Later in their studies, students will have the option to specialise in a specific area of economics. Specialisations may include areas such as: 

• Deveopment economics – ways to promote economic growth and boost the economy by creating an increase in employment and improving wealth distribution. 

• Organisational behaviour – studying how individuals behave within an organisation and how a business can develop principles of good communication, productivity and problem solving among its work force. 

• Labour economics – analysis of all the factors which contribute to the development of the labour market. Help to solve the problem of unemployment and skilled labour shortage in various sectors. 

• Science economics – studies how scientific and technological innovation contributes towards the economy.  

• Urban economics – studies the economics of large cities and the wealth distribution within them. This specialisation looks at many factors such as housing, education, crime, employment opportunities and segregation. 

• Education economics – the study of economics issues within the education sector, from policymaking to funding. 

• Growth economics – studying the factors that determine economic growth of a business or a society. 

• Experimental economics – a field of research which tests emerging techniques to find out if they will have a positive effect on the economy. 

• Regulation economics – studies the development of government policy and regulations for the industrial and commercial sectors of the economy. 

• Economics of tax policy – studies the effects of taxation on the consumer and the effects it has on the economy. 

• Economic forecasting – focuses on the history of economics as well as other international economies to ascertain the best ways to predict the future of the economy. 

• Health economics – studies the effects of the health sector on the economy. 

• International economics – looks at other economies around the world, the ways that they influence each other and the effects that they have on the national economy. 

• Agricultural economics – studies the effects of the agricultural sector on the economy. 

• Industrial economics – studies the effects of the industrial sector on the economy. 

Career Options 

Due to the broad range of topics covered within an economics degree, there are a diverse range of career options for graduates. 

One of the most obvious choices is working as an economist. This will allow students to use the information that they have learned during their degree to analyse economic data and trends. An economist may work in many private and public sectors such as governments, banks, private companies, local authorities, and consultancy firms. 

There are also many other careers that an economics graduate can pursue, such as: 

• Investment banker – raises a client’s capital by providing financial advice. They will often work within the stock market to issues shares, stocks, and bonds to ensure that their client is investing properly. 

• Accountant – manages their client’s finances to ensure that a person is spending responsibly or that a company is complying with financial regulations and paying the necessary taxes. 

• Financial consultant – advises their clients on the best ways to manage their money and increase their wealth. 

• Actuary – someone who analyses the financial risks a company is taking. They often work within the insurance sector but may also work within a private company or government. 

• Data analyst – similarly to an actuary, a data analyst will also analyse a company’s financial risks. However, their work includes a closer analysis of numbers and pre-existing data. 

• Financial manager – creates financial strategies for a business and then reports on the results to ensure profit increase and financial viability. They work closely with many other departments in a company to make sure that everyone is understanding of the financial goals. 

• Stockbroker – sells stocks and shares on behalf of a bank or brokerage. They are responsible for selling the shares to increase the capital of their corporate clients as well as making sure that their private clients make good investments that will earn them money. 

• Data scientist – uses data to understand a company’s financial strategies and advise on the best financial decisions for a company. Their work is very similar to that of a data analyst, but they are often considered more influential within a company and have the authority to make more decisions on a company’s behalf. 

• Government policy advisor – analyses the budgets and outcomes of spending in government-run organisations such as education, healthcare, transport, and emergency services.