Develop the analytical and problem-solving skills that are in demand across many industries with a UK economics degree
London is one of the leading global financial centres in the world, and studying economics close to where many of its theories base their origins can be a huge advantage to any international student. Some of the world’s largest banks and accountancy firms operate in the UK, and upon completion of the study, there are a large number of opportunities for economic graduates to pursue.
During study, students will develop their problem-solving, data analysis, computing and written and oral presentation skills, all abilities which are highly regarded and sought after in today’s economic climate. English is considered the language of world finance, and you will reap the benefits later in your career having studied here.
Joint-honours degrees are also available, while subjects such as history, law and politics will help craft how you see economics past and future. Modules throughout the degree will include statistics, sustainable development, microeconomics, macroeconomics and decision theory.
Economics Course Duration
Most economics degrees in the UK last for three years. During the first year of study, you will learn the essential components of economics, and in the second year, you will choose to focus on modules which focus on your areas of interest, such as Money Banking and Finance, Economics of the EU or Managerial Economics. In the final year of study, you will further tailor your degree to your career ambitions.
Economics students will be assessed via report writing, essays, project and teamwork, and will benefit from placements within the industry.
Economics Degree Tuition Fees
International students can expect to pay between £15,000 to £37,000 per academic year when studying for an economics degree in the UK. Elements that affect international tuition fees include location, ranking and global reputation.
The University of St Andrews BSc Economics degree, which is the number one ranked economics course in the UK, will cost EU and overseas students £28,190 per year. The University of Stirling BA (Hons) Economics degree, however, ranked 6th in the UK, is only £16,400 per year. Below are the UK’s top five economics programmes and their international fees.
| University | Course | International Fees |
|---|---|---|
| University of St Andrews | Economics BSc | £28,190 |
| University of Oxford | Economics and Management BA | £37,280 |
| University of Cambridge | BA Economics | £24,507 |
| London School of Economics and Political Science | BA in Economics | £26,592 |
| University of Warwick | Economics BSc | £23,390 |
Economics Degree Types
Bachelor of Economics
An undergraduate economics degree in the UK will provide international students with the required toolkit to succeed in the economics sector. Undergraduate economics courses generally last for 3 years, although commonly work placements and internships are available, meaning 4-year programmes are not unusual. Introductory teaching on the subject will see students learn critical economic theory, with no prior economic experience generally required on most programmes when applying.
Dual honours degrees are also available in many economic courses in the UK, meaning you can study other subjects such as business, geography or maths to complement your economics degree.
What is the difference between BA and BSc economics?
When choosing to study an economics degree, you may notice that some economics courses have the BA suffix and some the BSc. A small number of UK universities offer both, but most usually only provide one or the other.
The differences are minimal, but broadly a BA in economics is more focused on analytical theory, whilst a BSc is more concerned with quantitative and statistical analysis.
Masters in Economics
A master’s in economics will provide students with thorough training in enhanced economic theories and techniques. You will apply economic theory to the real world in case studies and be introduced to concepts and ideas via policy analysis, quantitative modelling and data analytics.
The UK is one of the most popular countries in the world for international students studying abroad, and a postgraduate economics course at a UK university will provide the perfect platform for you to specialise in an area of specific interest as you prepare for your coming career.
PhD Economics
A PhD in Economics will see you study with faculty who are experts, obtaining a vast amount of knowledge of your field. By choosing to spend a minimum of five years on an economics PhD, you will gain a broad set of tools for understanding how the social world works, increasing your chances of working in academia, think tanks and international monetary organisations.
Economics Graduate Jobs and Salary
Economists use and apply their understanding of micro and macroeconomics, econometrics, and mathematical and financial economics to business situations. A wide range of employers value economists’ skills of numeracy and analysis and their ability to understand and communicate broad socioeconomic and political concepts to a wider audience.
Average Salary for Economics Professionals
- Average starting professional salary: £27,000
- Average starting non-professional salary: £18,000
Source: Higher Education Statistics Agency, Destination of Leavers from Higher Education 2016-17.
Graduate Employability Rate for an Economics Degree
According to the Guardian University Guide 2024 Economics subject rankings, the following five universities have the highest percentage of graduates who find graduate-level jobs or are in further study at a professional or higher education level within 15 months of graduation.
- University of Oxford (96%)
- University of Cambridge (96%)
- University of Bath (96%)
- University of Edinburgh (96%)
- University of St Andrews (95%)
Economics UK Entry Requirements
The entry requirements for undergraduate economics in the UK can vary depending on the university and the specific course. However, in general, most UK universities require applicants to have achieved high grades in their A-levels or international equivalent qualifications, specifically in subjects such as mathematics, economics or business studies.
- Typical International Baccalaureate requirements: 36 points.
- Typical A-level requirements: ABB, including mathematics.
- Typical IELTS requirements: 6.5 overall, with no lower than 6.0 in any one component.
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 2024 below:
- University of Oxford
- University of St Andrews
- University of Cambridge
- University of Brighton
- Durham University
- London School of Economics and Political Science
- University of Essex
- University of Warwick
- King’s College London
- London South Bank University
Study Economics in the UK
If you are interested in studying 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.
Economics Degree FAQ
Students will require a bachelor’s degree with a minimum 2:1 honours degree or 60% in Economics or a related subject to be considered for a Master’s in Economics.
A master’s in economics courses can cost anywhere between £16,000-£35,000 per year, depending on the university and location you choose.
By completing a master’s in economics, you will be better placed to enter a competitive job market and earn more money more quickly.
As mathematics and economics are so closely intertwined, it is not recommended you pursue studying economics in the UK without a mathematics qualification.
After graduating from studying economics, students who choose to move into corporate economics, financial management or corporate economic law can expect to earn the most.
A BA in Economics will help you develop a wide range of skills, ensuring you are prepared for the business world across a wide variety of sectors. It is a beneficial qualification to hold.
An economics degree in the UK lasts for three years at the undergraduate level.