Do you have a question that hasn't been covered by the Why Study Economics site? Send any questions you still have to Ryan Hoare using the form below. He and the team will try to answer the question as informatively and comprehensively as possible.
Please note that Ryan will not answer economics questions as he isn't a homework help!
"I have completed a Bachelors (Hons.) in Economics with a first class and now have an offer of studying MSc Development Economics and Emerging Markets at University of York, UK. How good is this option for career prospects considering the subject, university and the ongoing recession?"
There are of course reasons not to study a masters.
Hope this all helps!
"What are the job opportunities for students of economics? I have never studied economics in the senior high school but can I major in economics at university because am good in maths?"
Great question.
Nearly two-thirds (63.9%) of economic graduates from 2002 were in employment six months after graduation, so the prospects are great. Some economics graduates get employed as economists in either the private sector or the public sector: both companies and government departments require economists to be able to forecast how the economy will impact on them and to help them make the right spending or purchasing decisions. Employers also like to employ economists for the analytical skills that they bring rather than employing them as practising economists.
You are also correct in thinking that being good at maths helps with economics. modern economics does make substantial use of mathematics. All economics degrees will require you to be comfortable in handing data and in learning various formulae. On joint honours degrees the level of maths is relatively low and goes little beyond basic algebra and arithmetic. Therefore some, but not all, economics courses require A-level Maths (or equivalent) and virtually all require GCSE Maths at grade C or B. For individual details it is best to check with each particular university. As far as not studying economics at senior school, to our knowledge, not one university requires economics at a-level. Hope it helps.
"Is it true that economics A-level is preferred over business studies A-level? Which subject is better out of these two and why?"
asked by Waqaar Azeem
I assume you mean which subject Universities prefer? If you are considering studying economics at University, have a look at requirements for the University - you may be surprised to find that many don't have economics A-Level as a pre-requisite.
Economics and Business studies will often overlap in the subjects covered with economics using more mathematical techniques than Business studies. Business studies tends to be a mix of accounting, finance, economics, marketing and organisational behaviour whereas economics is concerned with how society sets about meeting people's demands for things they want to consume.
It depends on who you speak to as to which one is considered the 'best', however, economics is often considered to have more academic rigour.
"I really like economics and I'm studying it for my first time in school. I really enjoy it but I get mixed up with drawing graphs - something I know I'll have to do in an exam. I also get a little muddled sometimes when my teacher moves on too fast. I feel that I can do it, just maybe not at the same pace. I'd quite like to study it at University as I'm interested in working in the banking sector, is a BA enough or would I have to continue to postgrad level?"
asked by Shane
To enter the banking sector you don't need to have postgraduate qualifications. The 'banking' sector covers a large amount of jobs - anything from risk management to client services. What I recommend is that you have a look at what interests you (the Prospectus site has some very useful information on this).
Also, you can look into doing work experience, which is invaluable as it will either confirm or disprove your decision. Just try your local branch and see what they can offer you. Many large firms have schemes which offer students a taster of what working for them would be like.
I'm a little concerned that if you are struggling a lot with Economics now, continuing with it to undergraduate level might be too great a challenge. What I suggest is if you read through your textbook before and after class as well as looking over the graphs, drawing and re-drawing them, the ideas and concepts will become embedded. If you don't understand anything, ask. Over time you should begin to understand more about economics.
If you are still finding it a challenge, there are other ways of getting into banking. Most disciplines are accepted even though some sort of numerate skills are desirable (Prospects). So, you could try accounting and finance, business studies or an entirely different thread altogether- languages or philosophy.
So, look at your options, see what interests you and, from here, either work on understanding economics or look into other degrees, your time at University should be fun as well as challenging.
"Why should I major in economics?"
Asked by Nikita
People study economics for lots of different reasons. For a snippet of why Bristol based students study economics have a look at our why study economics video.
Majoring in economics can open you up to a whole world of opportunity. Perhaps without realising it, you encounter economics everyday - deciding between a cup of tea or a deluxe caramel infused creamy latte. All of these can be explained using economics, of course, it also embraces bigger issues such as the current financial crisis, poverty reduction, the environment - the list is seemingly endless.
So economics is all around you, you can almost guarantee you will find an area that interests you. However, if you have to pay for your studies and have a mountain of student debt you will expect some financial reward. Economics graduates have a substantial increase in their earning, our how much could you earn page can tell you more.
But what will you be doing to earn this money? Of course, you could go into the City but there are other options. As an economics graduate you will have a stack of skills that are applicable to many work places. Your degree will teach you the quantitative aspects of an economics degree, the ability to analyse, to explain complex economic issues in simple, digestible forms and to understand the implications of economics. All of these skills are transferable allowing you to do all manner of things; development, teaching, finance, the government economic service - the list can go on.
Economics is a fantastically diverse and interesting degree that can open you up to many different opportunities, I would say, definitely major in economics.