Economics Degrees

Indian Student Guide to Studying Economics in the UK

The UK is arguably one of the most important financial centres globally, with the 6th-largest economy. London, the country’s capital, has frequently been ranked the wealthiest city in the world by several organisations, including UHNWI (2020) and GPCI (2021). Due to its status as a global business powerhouse, thousands of students from across the globe aspire to study economics in the UK, home to some of the most renowned universities offering degrees in economics and finance.

In addition to world-class curricula and distinguished faculty, UK economics schools are renowned for their state-of-the-art facilities, providing holistic development for students. While studying an Economics programme in the UK, you will gain an in-depth understanding of economics, including core microeconomic and macroeconomic theories. The concept of supply and demand is central to any Economics course.

At a UK economics school, the degree programme encompasses the principles of production, consumption, and the transfer of wealth. Many courses are accredited by prestigious bodies such as AACSB, EQUIS, and CIMA. Economics undergraduate degrees typically last three years, while postgraduate programmes range from one to two years. A PhD in Economics generally takes around four years to complete.

Economics Degree Types

Bachelor of Economics

The bachelor’s degree in Economics aims to give students a sound understanding of core, pure and applied economics. Along with developing analytical methods and applying them to diverse problems, you will learn how to address important economic issues and policy questions. In the first year, you will take introductory courses in several topics, such as microeconomics, macroeconomics and econometrics. The second year discusses quantitative economics, network science, and statistical methods. In the last year, students are introduced to advanced topics, such as labour, tax policy, the economics of growth, and international trade.

What is the difference between a BA and BSc in Economics?

UK universities offer two types of degrees at the undergraduate level — BA and BSc. Although both degrees are centred on economic principles and policies, the latter has a bit of a scientific touch. While the BA courses are dedicated to the historical and analytical philosophy of Economics, BSc programmes add the elements of mathematics, statistics, banking, etc.

Master’s in Economics

A Master’s degree in Economics trains students to solve real-world problems by learning applied and policy-oriented research. The programme aims to hone your skills in critical analysis, logical thinking, and policy implementation. Through independent learning, students are exposed to analytical and theoretical approaches. Several universities greatly emphasise developmental microeconomics, healthcare economics, and the government’s policies.

Economics PhD

The Doctor of Philosophy (PhD) in Economics is ideal for those candidates who intend to work as economists and contribute to global finance as experts. You will be under the guidance of globally reputed faculty and have a detailed knowledge and understanding of how the global chain of finance and economics works. It deals with several social and environmental issues connected with a country’s development.

Jobs and Careers

Graduating with an economics degree from a UK university opens doors to a variety of career paths across different sectors. Some typical jobs for Economics graduates include:

• Economist: Working with government agencies, financial institutions, or research bodies, providing insights into economic trends and policies.
• Data Analyst: Analysing data to help organisations make informed business decisions.
• Financial Analyst: Offering advice on investments, financial strategies, and risks for corporations or individual clients.
• Actuary: Assessing risks and uncertainty in finance and insurance, using mathematical and statistical methods.
• Consultant: Advising businesses or governments on strategies for efficiency and growth.
• Investment Banker: Managing financial transactions such as mergers and acquisitions, raising capital, or offering advisory services.
• Policy Analyst: Evaluating and developing policies for governments, think tanks, or international organisations.
• Accountant: Managing financial accounts, ensuring compliance, and providing financial advice.

Economics graduates are also well-suited for roles in marketing, business development, and operations management.

Average Salary

Salaries for economics graduates can vary depending on the sector, location, and role.

Entry-Level Salaries

• Financial Analyst: £28,000 – £35,000 (₹28-35 Lakhs)
• Economist: £25,000 – £32,000 (₹25-32 Lakhs)
• Data Analyst: £26,000 – £30,000 (₹26-30 Lakhs)
• Accountant: £23,000 – £30,000 (₹23-30 Lakhs)

Experienced Salaries (5+ years of experience)

• Financial Analyst: £50,000 – £80,000 (₹50-80 Lakhs)
• Economist: £45,000 – £75,000 (₹45-75 Lakhs)
• Data Analyst: £45,000 – £65,000 (₹45-65 Lakhs)
• Actuary: £60,000 – £100,000 (₹60-100 Lakhs)
• Investment Banker: £70,000 – £120,000+ (₹70 Lakhs – ₹1.2 Crores+)

Salaries are higher in London and financial hubs, with potential bonuses in banking and consulting roles.

Entry Requirements

To study economics in the UK, Indian students typically need the following qualifications:

Academic Qualifications

• Undergraduate Degree: Completion of the Higher Secondary Certificate (Class 12) with a minimum overall score of 75% from a recognised board (CBSE/ICSE/State Board). Some top universities may require 80-90% with high scores in Mathematics.
• Postgraduate Degree: A Bachelor’s degree from a recognised Indian university with a minimum score of 60-70% (depending on the institution). A degree in Economics, Mathematics, or a related field is often preferred.

English Language Requirements

• IELTS: A minimum overall score of 6.5 with no band lower than 6.0. Some universities may require a higher score (7.0 overall).
• Pearson PTE: A minimum score of 58-65, depending on the institution.
• TOEFL: A minimum score of 88-100 (iBT), depending on the university.

Please note that entry requirements vary for each UK university.

Where can I study Economics in the UK?

To learn more about the best economics courses in the UK, find details on the top ten ranking Economics universities in the Guardian University Guide 2026 below:

1. University of Oxford
2. University of St Andrews
3. University of Cambridge
4. London School of Economics and Political Science
5. Durham University
6. University of Warwick
7. Heriot-Watt University
8. University of Brighton
9. University of Essex
10. University of Stirling

Study Economics in the UK

If you want to study Economics in the UK, arrange your free consultation today. Don’t forget, the Premium Service will guarantee you at least one offer from a UK university.

FAQs

Which professional course is best after BA in Economics?

After completing BA in Economics, most aspirants pursue an MBA programme. Master’s in Finance Management and Accounting Analytics are also among popular courses.

Which course is best for economics?

At the undergraduate level, a BA or BSc in Economics is the best option, while an MA/MSc in Economics is a common choice for thousands of students. You can also choose a joint course in economics with either management or business.

Are economics jobs in demand?

Economists are always in demand worldwide. With today’s global economy vulnerable to recession more than ever, the industry needs smart brains to tackle every risk on the way.

What jobs can I do if I study economics?

An economics graduate can work in a range of areas, including finance, banking, and accounts. Some common career paths are Economist, Financial risk analyst, Financial planner, Accountant, Investment analyst, Financial consultant and Economic researcher.

Which field of economics pays the most?

The highest-paying jobs in economics are economist, statistician, actuary, and corporate lawyer.

What are the professional qualifications in economics?

Apart from the degree courses in economics, there are several other professional qualifications that you can choose to pursue, including courses in business intelligence, global trade analysis, and financial risk analysis.

What are the four studies of economics?

Economics runs on the four fundamental concepts —scarcity, supply and demand, costs and benefits, and capital.