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Are you often hearing people talking about economics, but never understanding what it actually is? Not to worry. Here are 5 key points on what economics is, why you should study it, and where a degree in the subject can take you.

Simply put, Economics is a major social science which informs major challenges faced by our societies today. These challenges include inequality, environmental sustainability, and economic policy.聽Economics helps to understand how and why people make choices about what to buy and sell, and how these decisions can impact everyone. It can help make sense of why people have more money than others and why different things cost what they do.

1. What topics are covered within economics?

At BCU, you鈥檒l cover a vast range of topics within economics as well as having the opportunity to study abroad. Some concepts include:

• Principles of Economics:聽This provides you with a good foundation of basic theories, concepts and models around economics, which will help you to predict the behaviour of various businesses, consumers, markets and national economies.

• Political Economy:聽Here you will gain an introduction to the major works of four great, and very different, thinkers: Adam Smith, Karl Marx, John Maynard Keynes and Friedrich Hayek.聽

• 贰肠辞苍辞尘别迟谤颈肠蝉:听Simply, econometrics uses maths to figure out how different things in the economy are connected, such as the prices of things or people鈥檚 actions. This module covers some of the main practical techniques used to analyse economics, business, and financial data.

In your second and third years, you will be able to choose some of your modules to suit your interests. Check out the course in depth聽for the full list.

2. Why should I study economics?

A degree in Economics could give you more career options than you think, including pathways in finance, business, banking, consulting, and government roles. All these options could allow you to work in most places around the world.

You could have the potential to earn a high figure salary, including a rough starting salary of 拢25-30k in your first graduate job, which can increase to 拢75k+ once you become more skilled in your field. You'll also have the opportunity to tackle real-world issues and challenges faced by our society today.聽

3. What skills do I need to study economics?

You don't have to be a genius at maths to study economics, but if you are ambitious, have great verbal and written communication skills, and can think analytically, you鈥檒l be in good stead to study for an Economics degree.

It鈥檚 an added bonus if you have an interest in current local, national, and global affairs, and enjoy research, as this will give you a good foundation for your degree.聽

4. What career can I go into with an economics degree?

As we鈥檝e mentioned, the career possibilities with an Economics degree are extremely broad. According to Prospects (2022), here are just some more specific job roles you could find yourself in:

• Chartered accountant: provides financial advice, and auditing services, and prepares financial documents for individuals, businesses, and organisations.

• Compliance officer: is responsible for ensuring that an organisation adheres to regulatory requirements and internal policies to mitigate risks and maintain ethical standards.

• Data analyst: interprets and analyses large sets of data to extract insights and inform decision-making processes.

• Stockbroker: a licensed professional who facilitates the buying and selling of securities on behalf of clients in financial markets.

• Business development manager: identifies growth opportunities, builds strategic partnerships, and implements plans to expand a company's market presence and revenue streams.

• Data scientist: utilises statistical analysis and machine learning techniques to extract insights and solve complex problems from sets of data.

• Quantity surveyor: manages and estimates construction costs, materials, and labour for building projects.

5. How can an Economics degree help me in real-life?

You鈥檒l gain transferable and subject-specific skills with a degree in Economics, which will make you seem valuable to employers. Prospects (2022) has highlighted a few:

• Communication:聽you will often be presenting your findings and explaining complex data.

• Numeracy:聽you鈥檒l gain the ability to handle complex data and apply mathematical and statistical analysis methods.

• Problem-solving:聽you鈥檒l be able to extract important information, draw conclusions, and make recommendations based on your knowledge.

• Computing:聽you鈥檒l have the skills to use specialised software.

• Time management:聽you鈥檒l be confident in completing specific tasks within designated time frames.