Study Economics in the UK: Top Universities, Eligibility Criteria, Course Fees, Jobs, and Salary

Did you know London was once the finance capital of the world? Still one of the leading financial centers in the world, there's no better place to study an Economics degree than the United Kingdom. Economics is the study of understanding how individuals and businesses allocate and utilize resources. A degree in economics equips you with knowledge of how basic organisational decisions like production, distribution and consumption of goods and services impacts the economy. Economics degree in the UK is among the best courses for commerce students and covers topics such as microeconomics, macroeconomics, international trade, econometrics, public policy, and more. Studying economics in the UK is an excellent opportunity for students who are interested in the subject. With a world-class education system, the UK offers a wide range of programs in economics at both the undergraduate and postgraduate levels.

Why Study Economics in the UK?

Prospective finance professionals may consider pursuing their education in the UK due to London's status as a leading global financial hub. In addition to this, there are several compelling reasons why studying economics in the UK may be a wise choice, which we will explore further.

• You can come across some of the best colleges and universities in the United Kingdom.

• You can get some of the best employment opportunities right after completing your course.

• The salary package for candidates with an education background in Economics is high.

• Some of the best financial firms in the world are located in the UK.

Types of Economics Courses in the UK

Economics courses in the UK are of various types. It is totally up to you whether you want to pursue a Bachelor’s programme, Masters programme, or Doctorate programme in Economics. Let us discuss these three levels of Economics courses.

• Bachelor’s of Economics: Depending upon your stream, you can choose to study either a B.A. in Economics or a B.Sc in Economics in the UK.

• Masters in Economics: Many candidates from across the globe come to pursue

  Masters in Economics in the UK . The post-graduation programme in Economics is available in both MA and MSc options.

• Doctorate in Economics: As you apply for the Doctorate programme, you can choose to do either Ph.D. or D.Phil.

The specialisations available while studying Economics in the UK are:

• Economics Finance

• Philosophy, Politics, and Economics

• Comparative Business Economics

• International Public Policy and Economics

• Economics and Econometrics

• Real Estate Economics and Finance

• Local Economic Development

• Economics for Development

• Economics, Risk, and Society

• International Financial Economics.

Duration of Economics Courses in the UK

The duration of Economics courses in the UK depends on your chosen programme. B.A. or B.Sc in economics is usually 3-4 years. If you are doing an M.A. or M.Sc in Economics, it will last for 1-2 years. The duration of a Ph.D. or D.Phil in Economics is usually 2-8 years. The duration may increase or decrease based on the programme you choose and the university you are pursuing the course from.

Cost of Studying Economics in the UK for Bangladeshi Students

The tuition fee for Bachelor’s in Economics ranges between GBP 15,000 and GBP 23,000 yearly. The tuition fee for Masters in Economics ranges between GBP 18,000 and GBP 34,000 yearly. However, the fee structure of the course varies from one university to another. Candidates from Bangladesh planning to pursue an Economics programme in the UK must also consider the cost of living. The cost of living is variable and depends on one’s choice of accommodation and lifestyle.

Eligibility Criteria to Study Economics in the UK

Bangladeshi students need to apply for a visa to pursue their Economics course in the UK. Each institution has different specifications for students coming from other countries. However, you must fulfill the Economics degree in the UK entry requirements to study the subject in one of the best colleges or universities in the country.

Eligibility requirement for Pursuing Bachelor’s in Economics in the UK

• To enroll in an undergraduate programme in economics at a UK university, Bangladeshi candidates have to apply through the University College Admission System (UCAS)

• You would be required to clear an English proficiency test with a minimum score of 6.5 in each component.

• For Bachelor’s in Economics in the UK, you need to have completed your Higher Secondary Certificate (HSC) with an aggregate score of 75%-80%

Eligibility requirement for Pursuing Masters in Economics in the UK

• Students seeking Masters in Economics in the UK need to have completed 3-4 years of Bachelor’s in Economics from a prestigious institution. The degree has to be equivalent to the upper second-class honours degree of the UK

• Your GRE score should be recent and more than 163 in the quantitative section.

• You must have cleared an English proficiency test with a minimum score of 7 in each component of IELTS.

Candidates who meet all the eligibility requirements should keep the following documents ready to submit to the institution. However, these documents may vary from one college to the other.

• Academic transcripts

• Proof of English proficiency test score

• Letter of Recommendation

• Statement of Purpose

• Updated Curriculum Vitae

• A valid Passport

• A valid student visa.

Top Colleges/Universities for Economics in the UK

The United Kingdom is known for housing some of the most reputed universities in the world. Getting into these universities is highly competitive. Candidates from Bangladesh who are looking forward to making a substantial career in the field of Economics will come across several options in the United Kingdom. Although Economics schools in London are the most popular, let us also look at some more colleges and universities in the UK to pursue the programme.

• University of Cambridge

• University of Oxford

• Imperial College London

• The London School of Economics and Political Science (LSE)

• UCL

• The University of Edinburgh

• King's College London

• The University of Manchester

Let us also check the ranks of these top universities for Economics in the UK as per the QS and THE World University Rankings of 2023.

Note: You can contact our IDP counselors for further information related to the application deadline and admission dates.

_{Source: https://www.topuniversities.com/university-rankings/world-university-rankings/2023}

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Scholarships for Economics in the UK for International Students

Scholarships in uk greatly help students pursue their education, especially in a foreign land. The Government of the United Kingdom offers various scholarships to students. The Economics scholarships in the UK you can get are:

Career Prospects after Pursuing Economics Courses in the UK

You will get a huge opportunity to secure Economics jobs in the UK . After completing your course in Economics, you will be able to apply to renowned companies in the UK and anywhere in the world. Some of the popular career options for Economics graduates in the country are:

• Economist

• Chartered accountant

• Actuarial analyst

• Compliance officer

• Data analyst

• Investment Analyst

• Risk manager

• External auditor

• Stockbroker

• Financial risk analyst

• Political risk analyst

• Statistician

The starting salary of Economics graduates in the UK is approximately between GBP 25,000 and GBP 35,000. However, candidates with higher experience certainly get better packages. The salary package of Economics graduates also depends on the kind of job role they have.

If you are seeking more information on pursuing Bachelor’s or Masters in Economics in the UK, you can feel free to get in touch with our IDP counsellors.

FAQs for Economics in UK from Bangladesh

1. What are the visa requirements for Bangladeshi students to study Economics in the UK?

A: The visa requirements include confirmation of a seat in your Economics programme at a UK institution, proof of funds, English proficiency score, Statement of Purpose, valid passport, proof of consent if you are under 18 from your guardian, written consent from financial sponsor, proof of fees, and your health fitness certificate (if required).

2. What is the cost of studying Economics in the UK for students from Bangladesh?

A: If you are planning to pursue Bachelor's in Economics, it would cost you approximately between GBP 15,000 and GBP 23,000 per year. For Masters in Economics, the cost would be approximately GBP 18,000 and GBP 34,000, per year.

3. Can I work in the UK after completing the Economics degree?

A: Yes, upon completing your Economics degree in the UK, you can start working in the UK. You can apply for job profiles as per your preference.

4. What scholarships are available for Bangladeshi students to study Economics in the UK?

A: You can apply for various scholarships while studying Economics in the UK. Some of the scholarships are Global Economics postgraduate scholarship, Fund for Education Abroad Scholarship, University Postgraduate Scholarships, etc.

5. How can Bangladeshi students apply for Economics courses in the UK?

A: Bangladeshi students interested in pursuing Economics courses can shortlist a programme, access the university website, and check the eligibility criteria online. If they fulfill the eligibility requirements, they can fill up the application form and submit all the required documents. This would include their academic transcripts, English proficiency scores, and passport details. And once they receive a response from the institution, they can follow the steps specified in the response to proceed further.

6. Which are the best specialisations for studying Economics courses in the UK?

A: Some of the specialisations you can choose from while pursuing Economics in the UK are Economics and Econometrics, International Public Policy and Economics, Real Estate Economics and Finance, Local Economic Development, etc.

7. Can I work as an Economist in the UK after completing a Masters degree in Economics?

A: Yes, you can work as an Economist in the UK after your Masters degree in Economics. However, you need to have work experience, preferably in the government sector of the country. You would also need to have good academic scores.

8. Can I do an internship during my Economics degree in the UK?

A: Yes, you can do an internship while studying Economics in the UK. It may help you gather experience and get placed in a reputed organisation.

_{Updated on 12 February, 2025}