Guide to studying Economics

CONTENTS

1. What's Economics?

2. Why study Economics?

3. What jobs can you get as an Economics graduate?

4. What do graduates do and earn?

5. What qualifications do you need?

6. What degrees can you study?

7. How will you be assessed?

8. What are the postgraduate opportunities?

What's Economics?

Economics is not the study of how to make money. It’s the social science of which factors determine the production and distribution of goods and services in a consumer, capitalist society.

Why study Economics?

Economics affects nearly all aspects of our lives. It's a broad subject area that equips you with the skills needed in a large variety of sectors and professions.

Read our six reasons to study Economics for more information on why you might choose to study this subject area.

I have always enjoyed maths but I wanted to do a degree which enabled me to maintain my writing skills as well as my numerical skills. Economics seemed like the perfect fit – it’s a good balance of essay writing and mathematical work.
Holly, University of Durham

My enthusiasm for economics has mainly derived from how economics – its workings, implications and results – influences our everyday decisions, and how it is involved in almost every aspect of society.
Learning and understanding the theory of economics has always interested me, but its application and relevance is what really enticed me.
Lisa, University of Nottingham

What jobs can you get as an Economics graduate?

Economics degrees teach valuable transferable skills such as presentation, research and communication, as well as how to deal with facts and figures that change every single day.

Particular job roles include accountant, economist, risk analyst, investment banker, statistician, actuary, civil servant, quantity surveyor and in government.

Numerous companies, such as the Wellcome Trust, offer graduate schemes in this subject area.

What do graduates do and earn?

In the infographic below, the first table shows what graduates of Economics have gone on to do in the months after their graduation.

The second table shows the average salaries of undergraduate Economics students entering employment. The three skill levels – high, medium and low – reflect the UK's Standard Occupational Classification's major groups 1–3, 4–6 and 7–9 respectively.

Source: HESA Graduate Outcomes Survey 2017/18

What qualifications do you need? 

Requirements vary between each institution, but an A Level (or equivalent) in Mathematics is normally required.

Always confirm the grades and other requirements for the particular university/course you're interested in.

What degrees can you study?

• BA Accounting and Economics
• BA Economics and Finance
• BA Politics, Philosophy and Economics
• BA Economics with a foreign language

How will you be assessed?

At most universities where you study a full-time, three-year course, each year is divided into two semesters with exams at the end of each semester. The second year makes up 40% of the total degree, with 60% in the final year. Dissertations are standard in the final year.

What are the postgraduate opportunities?

Examples of taught MAs and research degrees at postgraduate level include a straight MA in Economics, as well as MSc courses in accounting and financial economics, computer science with internet economics, applied econometrics and development economics.