If you’re an avid follower of national and international news or are passionate about the business and finance sectors, it might be worthwhile looking into economics degrees. Although at first glance economics may seem to be all about money, it is fundamentally a people-focused subject. It’s also a highly diverse subject, to the extent that undergraduate economics degrees are available both as a Bachelor of Arts (BA) or a Bachelor of Science (BSc).
What is economics?
First of all, what is economics? Part of the social sciences group, economics explores the full spectrum of issues that impact on financial situations and decisions. From production to consumption, economics looks at how the world’s resources are used by and distributed among individuals and organizations. This involves studying areas of politics, sociology, law, psychology, geography and history, at local and global levels.
The two major veins of economics are microeconomics and macroeconomics. Microeconomics looks at the behaviour and interactions of individual agents, such as households, companies, buyers and sellers. Macroeconomics analyzes entire economies on a national or global scale, looking at issues such as unemployment, inflation, economic growth and monetary and fiscal policy.
What to expect from economics degrees
Economics degrees are typically taught as a mixture of lectures and seminars, with written assignments to be submitted to seminar tutors. Depending on the institution, your grades may be determined by examinations, through coursework assignments or through project reports.
As mentioned above, economics degrees can come in BA and BSc forms. The latter are likely to focus more on mathematics, statistical theory and techniques for the application of mathematics in economic theory. Of course a BA in Economics will still involve some mathematics, but usually combined with more qualitative modules, sometimes in related social sciences fields such as sociology and psychology.
Whether classed as a BA or BSc, economics degrees require students to combine economic theory with empirical investigation, using statistical techniques to investigate questions in public policy and the business/financial fields. As such, applicants should have an aptitude for numbers and IT along with an ability to analyze problems and an enthusiasm for understanding current affairs and the world around you.
Economics is also often offered as part of a joint or combined honors degree, paired with subjects including computer science, engineering, history, law, sociology, management, mathematics, modern languages and politics.
Discover the top universities for economics
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