Economics is about how people, businesses, and governments make decisions to use resources wisely. It’s a social science that looks at how goods and services are made, shared, and used. Two key areas include:

• Microeconomics: Focuses on how individuals and companies behave and make decisions.
• Macroeconomics: Examines larger economic systems, like national or global economies.

Economists aim to make production and trade more efficient by using models to figure out what policies or incentives work best. They track key economic indicators, like GDP and the Consumer Price Index (CPI), to guide decisions. As the world becomes more interconnected through global trade, fields like cryptocurrency and fintech are changing the way economies function.

Studying economics helps you understand international relationships and gives you a broader view of different cultures and societies. It’s also a great way to sharpen your analytical and problem-solving skills, which are in high demand in today’s global economy.

Why Study Economics In The UK?

The UK has long been a top choice for international students, especially those interested in economics. London, a global financial hub, offers unique exposure to the heart of international finance. Studying economics in the UK not only provides a world-class education but also positions students at the center of global economic activities.

London’s status as one of the most important financial centers worldwide makes it an ideal place to study economics, as it includes globally recognized banks, financial institutions, and accountancy firms. Students benefit from close proximity to such multinational corporations, which often translates into valuable networking and job opportunities post-graduation. These connections open doors for graduates of UK economics programs, making the UK an attractive destination for aspiring economists.

Career prospects of studying Economics in the UK

^{Studying Economics in the UK gives you insights into social policies and financial markets, making it a valuable foundation for careers in finance, government, and business.}

Job Options Directly Related to Economics:

• Actuary: Analyze financial risks and uncertainty.
• Chartered Public Finance Accountant: Manage public funds.
• Compliance Officer: Ensure organizations follow laws and regulations.
• Data Analyst: Interpret complex data to guide decision-making.
• Economist: Study economic trends and policies.
• Financial Manager: Oversee financial planning and strategies.
• Financial Risk Analyst: Assess risks for investments or financial decisions.
• Internal Auditor: Review and assess company operations and finances.
• Investment Analyst: Research and advise on investment opportunities.
• Political Risk Analyst: Evaluate risks in international political environments.
• Statistician: Analyze data to help solve real-world problems.
• Stockbroker: Buy and sell stocks on behalf of clients.
• Tax Adviser: Provide advice on tax regulations and strategies.

Other Career Paths Where Economics is Useful:

• Business Development Manager: Drive growth and expansion for companies.
• Civil Service Fast Streamer: Fast-track leadership role in government.
• Data Scientist: Use data to solve complex business challenges.
• Diplomatic Service Officer: Represent your country abroad.
• Local Government Officer: Manage public services and policies.
• Management Consultant: Help organizations improve efficiency.
• Policy Officer: Develop and implement policies for governments or NGOs.
• Politician’s Assistant: Support elected officials with research and communication.
• Procurement Manager: Oversee purchasing and supply chain management.
• Quantity Surveyor: Manage project costs in construction.
• Risk Manager: Identify and manage potential risks in business operations.

Top UK Universities for Economics Degrees in 2025

If you’re aiming for an economics degree in the UK, here are some of the best universities to consider for 2025:

1. London School of Economics and Political Science (LSE)

LSE is one of the biggest and most renowned economics programs in the world—it’s in the name! The 3-year BSc Economics course offers a deep dive into mainstream economics and econometrics, taught by some of the world’s leading economists. It’s highly competitive, so start preparing early if you’re interested in the 2026 intake!

2. University of Warwick

Warwick’s Economics BSc covers all the essentials: microeconomics, macroeconomics, and econometrics. With research-led teaching, students are encouraged to think critically and explore original ideas. The course is flexible, allowing you to take optional modules from other fields like law, computer science, and business, giving you the freedom to tailor your degree to your interests.

3. University College London (UCL)

UCL’s Economics BSc balances academic depth with practical relevance. The program covers economic theories and quantitative skills while developing your ability to solve real-world problems through evidence-based analysis. With a research-driven faculty, you’ll be learning from experts who bring fresh insights into the classroom.

4. Durham University

Durham’s BA Economics program prepares students for success across a range of industries, from policy to journalism. The course emphasizes critical and analytical thinking, with core modules in macroeconomics, microeconomics, and econometrics. Optional modules let you shape the degree to fit your career goals and interests.

5. University of Bath

Bath’s Economics BSc gives students a strong understanding of economic theory and its real-world applications. The course covers how economic policies and institutions impact society, and prepares students for careers in a variety of sectors, both nationally and globally. With a focus on practical skills, you’ll be ready to navigate complex economic challenges.

Here’s a brief overview of the best universities for Economics in the UK:

These universities offer some of the best economics programs, each with varying fees and Teaching Excellence Framework (TEF) ratings, providing a high-quality education across different fields of economics.

Studying in the UK offers an exceptional educational experience with some of the world’s top universities focusing on practical, skills-based learning that enhances your critical thinking and creativity. Courses are shorter, helping you save time and money, and the quality is assured by independent bodies like the QAA. You can work part-time while studying to gain experience and support yourself financially, and the UK’s location allows easy travel across Europe. The diverse culture enriches your experience, and you’ll be well-supported with free healthcare and various student services. Plus, a UK degree boosts your career prospects globally, all while you immerse yourself in the country’s rich history and culture.

What are the UK entrance exams?

To gain admission to UK universities, you’ll need to take specific entrance exams, which fall into two categories: language proficiency and academic tests. Language tests like IELTS, PTE, and TOEFL assess your English skills, which is essential since English is the primary language of instruction. Academic exams, such as the GMAT, GRE, and LNAT, evaluate your knowledge and skills in specific subjects, depending on your chosen field. These exams ensure you meet the requirements of UK universities, helping you secure a spot in your desired program.

Requirements for the UK entrance exams

English Proficiency Tests

All UK universities require English language proficiency tests as part of their admission process. For students from India, there are several key exams to choose from to meet this requirement.

IELTS, PTE, TOEFL, and Duolingo are key English language proficiency exams the UK universities accept.

• IELTS is recognized globally and tests listening, reading, writing, and speaking skills.

• PTE, an online exam for non-native speakers, also assesses these four skills and is accepted by over 3,500 institutions.

• TOEFL is widely recognized and evaluates the same four skills, accepted by more than 11,000 organizations.

• Duolingo is another option, testing reading, writing, speaking, and listening, and is accepted by over 4,500 universities.

These exams are essential for international students aiming to study in the UK.

Academic Tests

GMAT (Graduate Management Admission Test)

• Purpose: Measures critical thinking, reasoning, and decision-making skills.
• Use: Required for admission to management programs in over 2,400 schools across 100+ countries.
• Skills Assessed: Decision-making, communication, and critical analysis.
• Validity: The score is valid for five years, allowing flexibility for when students can submit their scores.
• Relevance: Often required for MBA and other business-related programs.

GRE (Graduate Record Examination)

• Purpose: A general admission test for graduate schools, testing a wide range of skills.
• Use: Accepted by many UK universities for various graduate programs.
• Sections: Verbal Reasoning, Quantitative Reasoning, and Analytical Writing.
• Duration: 1 hour and 58 minutes.
• Relevance: Commonly required for a variety of master’s and doctoral programs.

MAT (Mathematics Admissions Test)

• Purpose: A standardized test conducted by the University of Oxford.
• Use: Required for certain courses such as Mathematics, Computer Science, and related fields.
• Skills Assessed: Mathematical reasoning and problem-solving.
• Duration: 2 hours and 30 minutes.
• Relevance: Specifically required for certain math-related courses at Oxford and other participating institutions.

LNAT (Law National Aptitude Test)

• Purpose: Assesses aptitude and verbal reasoning skills for law students.
• Use: Required for law programs at various UK universities.
• Sections: Multiple-choice questions and a 40-minute essay.
• Duration: 2 hours and 15 minutes.
• Relevance: Essential for students applying to undergraduate law programs.

GAMSAT (Graduate Medical School Admissions Test)

• Purpose: GAMSAT scores are required for students applying to medical and health programs in the UK.
• Use: The exam assesses critical thinking, problem-solving, and analytical skills.
• Sections: It consists of three sections: Reasoning in Science, Written Communication, and Problem-Solving.
• Duration: The exam duration is 5.2 hours.
• Relevance: Four medical schools in Ireland require the GAMSAT for admission.

Benefits of the UK entrance exam

Taking the UK entrance exams is replete with beneficial returns

• Global Recognition: UK entrance exams like LNAT, BMAT, and UCAT are recognized by leading universities worldwide, providing students with prestigious academic opportunities.

• Comprehensive Skill Evaluation: These exams rigorously assess critical thinking, analytical reasoning, and domain-specific knowledge, allowing candidates to demonstrate their full academic potential.

• Merit-Based Selection: Standardized testing ensures a transparent and equitable selection process, enabling institutions to identify top talent objectively.

• Academic Readiness: Preparing for these exams enhances students’ subject expertise and equips them with the skills needed to excel in challenging university programs.

• International Opportunities: UK entrance exams are globally respected, granting students access to elite academic institutions and expanding their educational prospects on a global scale.

Top universities in the UK

The UK is home to some of the world’s most prestigious universities.

At the top of the list are the University of Oxford and the University of Cambridge, both renowned for their historic legacy and academic excellence. Imperial College London and UCL are leading institutions in London, known for their cutting-edge research and global impact. The University of Edinburgh stands out in Scotland for its rich academic tradition. King’s College London and the London School of Economics and Political Science are also among the top universities, particularly strong in humanities and social sciences. The University of Manchester, the University of Bristol, and the University of Glasgow round out the list, each offering world-class education and research opportunities in vibrant cities.

Some of the requirements of the 4 major universities in the UK are listed below:

• University of Oxford: A full degree usually requires 360 points, with 120 points each for stages 1, 2, and 3 (similar to the first, second, and third years at a traditional university). To apply to Oxford, students need to have completed or be working on at least 120 points at stage 1 or higher in relevant subjects.

• University of Cambridge: If you’re from a non-English speaking country, you’ll need to show that your English is strong enough to study at Cambridge, as courses are taught and examined in English. Cambridge might require you to meet an English language condition if there are concerns during your application or if it’s needed for a visa. They’ll assess your qualifications, written work, interview performance, and educational background. Typically, you’ll need to reach a good C1 level in English, which can be demonstrated through exams like IELTS or TOEFL. For visa purposes, you might need a Secure English Language Test (SELT), with results valid for two years.

• Imperial College London: You’ll need to show strong academic performance, including mostly 9-7 grades (A) at the GCSE level or the international equivalent, with at least a 7 (A) in maths and science. If you get a conditional offer, you’ll need to send them our most recent school or college grades to confirm you’ve met the academic standards. Strong English skills are essential, and if English isn’t your first language or you’ll need to provide proof of an English language qualification like IELTS.

• University College London: Before applying to UCL, you should generally have finished or be close to finishing two years of university studies. You’ll typically need a minimum GPA of 3.3 out of 4.0, though some subjects require at least a 3.7 and may have extra requirements.