Why Study Economics in the UK?

Economics is an extensive field of study that is often coupled together with other subjects such as business, management, finance, accounting and law. Undergraduate economics degrees usually last for 3 years, but may extend up to 4 years with a placement year, and they can also be studied as dual degrees or joint honours degrees.

For example a BSc Economics degree could be combined with science based subjects such as mathematics or statistics; whilst a BA Economics degree is available alongside disciplines such as politics or psychology.

Why should I study economics in the UK?

Studying economics in the UK means learning with the world's best minds and studying at top ranking universities, recognised globally for their award-winning research and teaching in economics and its related fields.

Economic graduates will gain a thorough understanding of modern-day economic theories and models and be ready-made for a fast changing workplace environment.

- What jobs can you get with an economics degree?

An economics degree will lead to varied roles across a number of different sectors. Depending on your personal interests, you can work in finance, data analysis, accountancy, political science or law and as economic graduate salaries are amongst the best for new starters in the industry, you will be comfortable as you begin your new career.

Learn more about studying economics in the UK below and if you would like to begin your application to study in the UK, arrange a free consultation with SI-UK London today.

Why study economics at a UK university?

Preparation for graduate programmes

Economics graduates will leave university with enhanced problem-solving and analytical skills that help them find employment across a variety of different industries and sectors. If they wish to focus in one particular type of area though, an undergraduate economics degree is the perfect preparation for a postgraduate masters programme in a variety of fields. Many graduates move into the following fields:

• Law - Many economics graduates move into Law due to the heavy reliance on analytical and logical thinking. For example, an economics programme relies on the student to consider fast moving changes and wide ranging implication of movements in markets, and these changes are also required in the study of law.
• MBA - The UK MBA is considered the gold standard of business education, and to succeed on an MBA programme in the UK students will require excellent quantitative and problem-solving skills - all abilities which will be honed on an economics programme.
• Other - Are you interested in politics, policy making or journalism? There are an enormous amount of options available to Economics graduates.

What can you do with an economics degree?

Because economics is flexible and relevant to almost all industries, it works in tandem with many other UK university subjects. So whether you wish to pursue your interests in economics with psychology, political science or international development, there are combined hours disciplines which will ensure you are fully engaged with the degree on every level.

- What are the benefits of a dual-honours degree?

• You will be able to learn two subjects in-depth, broadening your knowledge and horizons
• Knowledge from your second subject will inform your economics programme
• Enable you to hone in on what you want your career to be

Transferable skills

Transferable skills are a key part of any UK university degree and an economics degree will help boost your employability prospects after graduation. Studying economics in the UK will help you develop a broad range of transferable skills which are relevant to all sectors, including:

• Problem solving
• Analytical thinking
• Research
• Spoken and written communication
• Presentation

High earning potential

Economic graduates in the UK enjoy high starting salaries and, throughout their career, long-term financial security is assured. The average starting salary after a degree in economics is between £25-30,000 with a few years experience, and quickly rises to over £40,000 once you are embedded in the industry.

Senior economists, who may work within government and financial sectors, can expect to earn £50-70,000!

Graduate employment

Economics is the backbone of any sector and an economics degree prepares you for a career in not only the traditional business, financial and government sectors, but also areas such as journalism, education and political science.

A report from the <arel="nofollow" href="https://www.weforum.org/reports/the-future-of-jobs-report-2020/in-full/infographics-e4e69e4de7" target="_blank" rel="noopener">World Economic Forum's Future of Jobs found that analytical thinking and complex problem-solving skills top the list of skills that employers are finding increasingly important in the modern workforce, whilst quantitative and analytical skills are also trending upwards as businesses look to to interpret big data.

- What jobs can I do with an economics degree?

Many economics students have gone on to roles within the following sectors:

Economic pathway and foundation options

If you are an international student who needs to improve their language or study skills ahead of studying an economics degree, pathway and foundation economics programmes can help prepare you for full-time economic study.

Many economic programmes with foundation are the equivalent to a first year proper, and upon successful completion, students will enter the second year with the rest of the student cohort.

Study Economics in the UK

Learn more about studying economics in the UK by arranging a free consultation with SI-UK London today.