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• Economics Personal Statement

A personal statement is up to 4000 characters or 47 lines where you tell a University why you are a suitable candidate for the course. Unfortunately, there is no way of guaranteeing a place on your chosen course but a combination of a good personal statement and the right grades will certainly give you a good chance.

To offer you something useful, we asked senior Economics lecturers around the country what they like to see in an Economics personal statement;

1) Ensure the personal statement is grammatically correct and without spelling errors . Applicants have time to prepare and go over their statement over and over, as well as to get help from their teachers, parents etc. Sloppiness of this kind gives the worst possible impression .

2) Keep paragraphs short and to the point. This is easier to read than a big body of text – admissions officers are unlikely to spend a long time reading over the statement, so make the key points stand out.

3) I see little need to innovate by writing bizarre things so as to stand out – keep things clear, relevant and to the point, also statements such as ‘I have dreamt of studying Economics from when I was a small child’ are completely implausible and all too common! Show enthusiasm for the subject but back it up with evidence of this , such as relevant books you have read (but make sure you have indeed read them before an interview…if caught out lying, looks very weak – you would be surprised how often this happens), issues in the media or current affairs that interest you etc.

Emphasise the reasons why you’re interested in and want to study, Economics . What is it about the subject that makes you want to spend 3 years specialising in it? What especially appeals? If you’ve studied Economics before you might talk about some of the areas you’ve found most interesting; if not, then explain how you came to want to study it. I think this is an exercise that’s of value notwithstanding the personal statement: students who’ve thought carefully about their choice are more likely to make the right one and ultimately to enjoy success with their degrees . Both with this and more generally on the personal statement, be honest (for your own sake as much as the selector’s, remembering that any exaggerations and poorly thought out statements are likely to be exposed in the event of any interviews ) and resist the temptation to write what you think the selector wants to hear (e.g. “I have always loved Economics ever since I was 2”) or to try and flatter (e.g. “I welcome the chance to study at your esteemed institution”); both are likely to sound insincere, won’t convince and will therefore, add little value. Just be yourself, and be both interested and interesting!

Paragraph 1 – give a general introduction of why you wish to study Economics; this might include a particular aspect of the subject that fascinates you (though explain why), when your interest was peaked and how a degree in Economics fits in with your future career aspirations.

Paragraph 2 – give a brief account of why you are suitable for the degree(s) in questions, highlighting relevant A-level courses taken and aspects of them that were of interest. Give academic and non-academic reasons -applicants tend to focus on what they would take from the opportunity to study towards a particular degree- it is nice to explain how they hope to contribute also to the social fabric of the university and interaction within the course/degree.

Paragraph 3 – give evidence of interest for Economics by listing one or two popular Economics books (e.g. Freakonomics, Superfreakonomics, the Armchair Economist, the Bottom Billion…the list goes on) that you have read. Rather than giving an implausibly long list of books read, focus on one or two (or three if the course is a joint honours degree with other subjects) books and (this is crucial…) identify how the book/particular chapter/treatment of a particular issue fuelled your interest in Economics, in particular, what questions it raised in your mind that a degree in Economics would help answer.

Paragraph 4 – describe (briefly) any work experience/voluntary work, highlighting any aspects that are relevant to Economics. A few lines on hobbies or sporting activities could also be included – perhaps to show perseverance of enjoyment in interacting with others. Some interests e.g. debating, are arguably of more relevance than say, golf.

Somewhere in the statement – if applying from overseas, list the qualifications attained in English language and perhaps say a few words on how studying Economics in the U.K. is of particular value to you.

Paragraph 5 – list any awards, prizes etc attained or participation in things like the Model UN or Duke of Edinburgh awards. Some applicants are involved in Target 2.0 and in doing so get a first-hand feel of the role of monetary policy and how interest rates are set and inflation targeting. These are relevant to the statement.

A statement that follows the structure above should give enough information to satisfy most readers and should appear structured, well-written and clearly thought out.

Vague statements of interest with broad sweeping statements of unbridled enthusiasm for the subject lack credibility if not backed up by specific activities/books read/courses taken etc. In my view, a straightforward personal statement that gets all the core points across in a coherent way serves the purpose best.

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• FindAMasters
• Economics Masters Personal Statement Sample

Written by Hannah Slack

This is an example personal statement for a Masters degree application in Economics. See our guide for advice on writing your own postgraduate personal statement .

The notion of financial risk has always fascinated me. Risk is involved all parts of our life, and learning economic theory and statistics can help mitigate some of the larger financial risks that can massively impact our economy. Since my undergraduate course I have been intrigued by the theoretical side of economics and statistics. I particularly enjoy learning how to project potential outcomes, as this is a vital skill desired by many corporations to strengthen their decision-making processes.

Currently I am in my final year of an Economics undergraduate degree and I am projected to graduate with a first. Modules in Behavioural Economics, Finance and Investment have been a strong interest of mine since the beginning of my degree. I have also enjoyed learning more about economic policies across the globe. In order to keep up to date with the latest economic policies I make sure to follow governmental and news outlets, such as the Financial Times.

In my second year I completed a four-month placement with a national bank. This allowed me to learn more about the practical implications of economic theory in a financially focused setting. I grew very interested in the work of the Risk Manager, who further enlightened me on the many different factors that must be considered before making a major financial decision. The main thing that I enjoyed about financial risk was the tangibility of it. As history has demonstrated, financial decisions can have a major impact on society, both positive and negative. Learning how to restrain negative impacts, and how to manage risks appropriately, intrigues me as an essential part of our modern world.

My third year I spend abroad studying Economics in Australia. I found it particularly interesting to learn the differences between the Australian economic system and the UK’s, which will become increasingly important with the advent of post-Brexit trade deals between the countries. This experience only contributed to my enthusiasm with economic theory as I was able to learn more about its role within other countries.

I have decided to apply for this course because it is one of the finest in the country, with excellent links to industry. To contribute to financial risk management in the way I aspire to, I believe that I need the best education possible. This course not only has a compelling combination of modules and specialisms, but its reputation and research quality will help propel me as a competitive graduate on the job market. I truly believe that with my passion and intrigue in the subject, and this course’s quality resources, this university will be the best place for my studies.

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Economics personal statement examples

On this page is a collection of economics personal statements, all written by real students. Among them are some that have helped students make successful applications to universities such as Cambridge, LSE and Manchester.

Some also feature review comments from The Student Room personal statement review team.

By reading through a few of these samples, you can gain inspiration for your own economics personal statement. 

Economics personal statement examples - top rated by students

We have lots of economics personal statement examples that you can read through. To help you find the best ones, we asked students to vote for which they found the most useful. 

The following personal statements are those that were the most highly rated.

Economics degree personal statement example (1c) LSE offer Submitted by: Anonymous "For me, the uniqueness of economics lies in its ability to combine both Arts and Science disciplines. Such a synergy creates a diverse subject which..."

Economics degree personal statement example (2h) Cambridge offer Submitted by: Anonymous " Observing the world around me, it is clear Economics can clarify so much. Take the stock market: an intricate web of transactions, demand and..."

Economics and finance degree personal statement example (1g) with review Submitted by: Anonymous " In today's world, economics associated disciplines are of fundamental significance..."

Economics and management personal statement example (1c) Oxford offer Submitted by: Anonymous " Economics in the current climate is inescapable; it dominates the media and is at the forefront of..."

Economics degree personal statement example (1h) Submitted by: Anonymous " Logic, fresh ideas, and a strong applicability to real life: the fundamentals of economics are based on..."

Economics degree personal statement example (1q) Cambridge offer Submitted by: Anonymous " Everyday, we are faced with choices. Whatever their magnitude, economics encourages a logical approach to..."

Business and economics personal statement example (1a) Submitted by: Anonymous "Economics was the first subject which caught my attention, and got me thinking about its relevance outside..."

Economics degree personal statement example (1s) Cambridge offer Submitted by: Anonymous " Ever since my Year 9 history teacher told me of the "circle of prosperity", a phenomenon we now know better as..."

Economics degree personal statement example (1e) UCL offer Submitted by: Anonymous "Travelling around the world, and having visited places including America and Iran, has allowed me to personally witness..."

Economics degree personal statement example (2d) with review Submitted by: Anonymous " I am applying to study a degree in economics principally because of the diversity of both the subject and..."

Full list of economics personal statement examples

Studying economics at university.

Study for an economics degree and you will be exploring how people, businesses and governments produce and allocate resources.

Economics degrees cover a wide range of topics, including microeconomics, macroeconomics, econometrics, international economics and business economics.

Economics degrees can also be combined with other subjects, such as history, politics, or philosophy. Economics graduates might go into careers in various sectors; such as banking, consulting, education, or public policy.

Explore economics degrees at UK universities on The Uni Guide .

Advice on writing your economics personal statement

On The Uni Guide, we've got advice from universities on what they want to see in an economics personal statement . 

Among the tips shared by these admissions experts:

• Show that you've read around the subject
• Find ways to demonstrate your passion for economics
• Do your research into the course and show that you understand what to expect from it
• Write about more than just an interest in finance

More help with your personal statement

You can find personal statement examples for other courses by using this subject list, or by returning to our personal statements by subject page.

Other useful links

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By Nik Taylor (Editor, The Uni Guide) | 21 September 2023 | 8 min read

Writing an economics personal statement: expert advice from universities

Get your economics personal statement in top shape with these insider tips

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Read around the subject 

• Read more:  how to write an excellent personal statement in ten steps

Let your passion for economics shine through in your personal statement

• Read more:  teacher secrets for writing a great personal statement

Make sure you really understand what economics is all about

Do your research into the course.

• Read more:  personal statement FAQs

Keep your personal statement personal

Talk about how you engage with the world around you.

• Read more:  the ten biggest mistakes to avoid when writing your personal statement

Show your interest in collecting and analysing data

• Read more:  universities reveal all about personal statements

Don’t only focus on finance

• Read more:  universities explain how to end your personal statement with a bang

Include extracurricular activities with relevant skills

• Read more:  how to write your personal statement when you have nothing interesting to say

You could talk about your plans for your future, but don’t worry if you don’t have a definite career trajectory all mapped out

• Read more:  how long does it take for universities to reply to your application? 

It shouldn’t matter if you haven’t studied economics before

Proofread your personal statement before you send it out, you may want to look at these..., personal statement secrets – universities reveal all.

Want to know how to craft an amazing personal statement? Take some advice from the experts...

How to write an excellent personal statement in 10 steps

Help and advice on putting your application together

Personal statement FAQs

We've gone through some of the most commonly asked personal statement questions and put all the answers in one place

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How to Write your Economics Personal Statement

Are you applying to economics courses at university this year? If so, this guide might come in handy. Based on my experience helping students with personal statements, as well as discussions with other Cambridge students and fellows, I have built up an understanding of what makes a very good economics personal statement. Below I present a series of steps for how to write the personal statement.

Decide on your course

It sounds obvious, but make sure you have decided on the courses which you would like to apply to. If you are unsure, you can consider your A-levels, particular interests, or whether you have a particular job in mind for after university.

From this point onwards, I will assume you are interested in applying for some kind of economics degree. However, the advice below generally applies to joint degrees and other courses however.

Supercurricular activities for economics

Given you have decided on the course for which you are applying, the next step I recommend is to write a list of all your supercurricular activities .

This is not the same as an extracurricular activity. You can think of the difference like this:

• A supercurricular activity is an activity that takes place outside of school lessons, that is directly related to your university course of choice. An example is reading an economics book.
• An extracurricular activity is, again, an activity that takes place outside of school, but that is not directly related to the course you are applying to study at university. An example of this is being part of a sports team.

Supercurricular activities should form the bulk of your personal statement. Some universities post recommendations such as 75 to 80% of the personal statement should be about supercurricular activities exclusively. Other universities will state that they are only interested in your academic pursuits (in other words, supercurriculars).

Complete Guide

For the complete economics personal statement guide, click the link here (paid resource):

Types of Supercurriculars

Supercurricular activities can include, but are not limited to:

• Online or in-person lectures.
• Magazines or journals.
• Online courses.
• Essay competitions.
• Reading blogs.

In a future blogpost, I will outline some examples for various areas of economics.

How should you choose your supercurriculars?

I recommend choosing activities based on your particular interests within the subject of economics. For example suppose you are interested in labour economics (in other words, what decides the wage and employment level in an economy or labour market). Then I would recommend finding activities relating to these topics. This could include entering an essay competition by writing on a labour economics topic such as migration, minimum wages or inequality, or searching in YouTube for lectures relating to migration (such as Alan Manning’s LSE lectures, for example here ). You may be able to find podcast episodes covering these particular topics.

Another example is let’s say you had an interest in environmental economics. Then you could look into a podcast episode on carbon taxes (for example here ). You could then look into books, blogs or online courses on the topic and so on.

One possible way to structure your personal statement is to have one paragraph for each topic area. You could have a paragraph discussing labour economics, then another discussing the economics of crime, and a third paragraph discussing macroeconomic policy as an example. However supercurricular activities may not naturally group into topics. So you can choose to link them together in other ways, such as the type of activity or a common skill the activities show.

Several economics courses are looking for you to be proficient in mathematics. Hence it may be worth devoting some part of the statement to discussing economics supercurriculars that relate to mathematics, covering areas such as the use of calculus in economics, statistics, econometrics, game theory and so on. Alternatively you could simply includes pure mathematics supercurricular activities such as maths challenges or reading.

Activities to avoid mentioning

Ideally you should avoid mentioning books where economics and popular culture overlap. This includes books like Freakonomics and the Armchair Economist for example. While these are very enjoyable books to read in their own right, these books are too frequently mentioned and are often seen as too basic by some universities.

If you are applying to a very competitive university that does not interview, for example LSE, then it would be preferable to find books that are less frequently mentioned.

Work experience is not necessary for an application to an economics course. This is because work experience is often acquired through connections rather than ability, so it would be a poor indicator for admissions staff to use in assessing students’ abilities. Also work experience is often not directly relevant to the economics course. However work experience can be mentioned if you work on something that is relevant to the economics course, such as working as a research assistant or an economics journalist.

Generally you should not be mentioning your A-levels. Almost everybody applying is doing A-levels and so speaking about what you have covered in your A-levels will not help you to stand out. In any case your teachers will be mentioning your A-levels in your teacher reference anyway, so it is better to devote the personal statement to activities beyond your A-levels. If there are one or two relevant ideas from A-level that you really want to mention, as they are very relevant, then you can do so. But I would not recommend devoting a whole paragraph to your A-levels for example.

I have my supercurriculars. What next?

Suppose now you have your list of supercurricular activities. You can use these to form the main body of your personal statement.

For these activities, as above, group them into particular paragraphs. This grouping could be based on the topic of the supercurricular activities. You could aim for 2-4 activities per paragraph.

To discuss each activity I recommend three steps:

• Name the activity. For example name the book you read or name the essay competition title.
• Discuss what you specifically did. For example what did you write about specifically in your essay competition, or what was involved in your online course?
• Explain your personal takeaway. Did you agree with the book? Or did you find something particularly fascinating about the essay competition?

Note this is just one possible way of doing things. Depending on the activity you are discussing, you may find a different structure appropriate.

Between activities and paragraphs, it is often a good idea to try to create linking clauses. For example if you discussed your mathematical ability in one paragraph, then you could easily transition into discussing the use of statistics in economics in your next activity or paragraph.

I plan to expand more on how to write about your activities in a future article.

Other Paragraphs

I will now pay particular attention to other paragraphs you may need to write.

Introductions

Often students spend too much time trying to write a good introduction at the very start of the writing process. I recommend leaving the introduction until you have been writing about your supercurricular activities.

One mistake when writing introductions is to start with “from a young age” or “since I was five….”. This way of starting your statement is far too common.

Instead you could jump into discussion of a particular supercurricular activity. This could be an activity that summarises well why you want to study economics for example. You might also have supercurricular activities that do not fit well into a particular paragraph. The introduction could provide a good place to put those kinds of activities too.

Extracurricular Activities

It is possible to put a small paragraph in the statement discussing your extracurriculars (in other words activities not related to economics), for example sports teams, societies, positions of responsibilities, other hobbies etc. Some universities will want to see you are well rounded candidate while others will only care about your academics. I recommend inspecting the applications pages of the universities you are applying to, in order to verify the importance of extracurricular activities to the universities you are applying to.

You may wish to round off your personal statement with a few concluding sentences. I have seen this done in a few ways:

• A short sentence summarising why you think you would be a good candidate for the course.
• A couple of sentences discussing the most important part of your application or something you want to emphasise. This could be a research interest in a particular area, or a particular strength within the field.
• Alternatively, if you think there is a common idea linking most or all of your personal statement activities, you could mention it here too.

See if you think any of these ways are appropriate for your statement. Alternatively you could find your own way to conclude.

Checking and Revising

Get your statement checked by multiple people. Also different teachers will give different advice, so do not feel like you have to accept one’s person entire advice (including my own advice). After all, this is your personal statement and nobody else’s.

In revising the statement, one process most students go through is cutting down characters to fit the UCAS character and line count limits. If you are exceeding these limits, see if you can make points more succinctly. Often a second pair of eyes is very helpful in this instance. Beyond that, you may have to choose one or two of your activities to leave out, based on which you think offers least value to your personal statement.

Best of luck in writing your statement. More will follow on specific ideas for economics supercurricular activities.

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Why Study Economics?

Economics is a dynamic and influential field that touches nearly every aspect of our lives. From shaping government policies to understanding global markets, economics provides invaluable insights into how societies function and evolve. But what motivates individuals to pursue a career in economics, and why should you consider studying it?

By studying economics, you'll gain not only a deep understanding of how economies function but also invaluable analytical and critical thinking skills that are highly sought after in today's interconnected world. whether you aspire to shape policy, drive innovation, or understand human behaviour, economics provides a powerful lens through which to view the complexities of our global society. , what do we study in the department .

Our colleagues share why they chose to study Economics

Abi Adams-Prassl

What led you to a career in Economics?

As an undergraduate, I took a course on Public Economics at the same time as a philosophy module on theories of social justice. I was hooked. It opened my eyes to how economics can be used as a tool to tackle inequality in society. I was also incredibly lucky to have a brilliant mentor, Professor Ian Crawford, as a graduate student. I hadn’t seriously considered doing a PhD in Economics, and would not have done so, if it wasn’t for his encouragement and support.  

Johannes Abeler

When I was in high school, I was very interested in mathematics. I found that economics is the perfect space to combine these interests: to think about how people make decisions and how they interact, using mathematical tools to test my ideas against data. 

Elizabeth Baldwin

Before I was an economist, I was a mathematician. I found I wanted to work on problems that had a more immediate impact on the wider world and on questions that I cared about, so I left my postdoc in mathematics to take a masters in economics, and never looked back!  My own experience as a woman in economics, has been uniformly positive. Yes, people do ask a lot more questions throughout a seminar than they would do in mathematics, but I enjoy that level of engagement. 

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After high school, I dreamt of a career in diplomacy or international organisations, so I enrolled in a bachelor’s in political science and then an MA in international relations. During these interdisciplinary studies in Italy and the US, I realized that I liked the rigour of economics and the “toolkit” it gave to address key policy relevant questions. This led me to obtain a M.Sc. and a Ph.D. in Economics. In my work today, I use theoretical models and empirical methods that learned while studying economics to address questions that are inspired by my earlier interdisciplinary studies.

Beata Javorcik

I was doing my university studies in the early 1990s – right after the fall of the Berlin Wall and the collapse of communism. This was the time when Fukuyma was writing about the end of history and designing market reforms in eastern Europe and the former Soviet Union was the challenge facing the Economics profession and policy makers. It was a very exciting time to study Economics. Studying epidemiology must feel a bit like this today.

Mathias Jensen

Why do you study Economics?

With my research, I aim to deepen our understanding of the socio-economic trajectories of diverse populations. Economics equips us with the necessary tools to dissect and address inequalities. 

I went to university wanting to understand how society worked and more about the ways it did not work – I had vague notions that the government could help solve society’s problems. I knew nothing at all about economics! Studying economics (alongside politics and philosophy) transformed the way I thought about the world. It made me analyse real world issues in a systematic way: economics taught me to try take my own prejudices out of my analyses. It was quite simply fascinating and inspiring!

Romuald Méango

I have always been amazed by the diversity of the people and situations that economics is relevant to; from the instantaneous decisions of traders in the City, to the long-term investments of cocoa farmers in Kumasi, and the dreams of would-be migrants pondering whether to cross the Sahara or not. 

Inès Moreno De Barreda

I’ve always loved problem solving and maths. However, as I advanced in my (5 years) undergrad in maths I missed being able to discuss with my family and friends whatever I was learning. After working in a risk consultancy firm for a couple of years I wanted to come back to academia. I spent one year at the UAB a as a research assistant to the micro theory group and I loved it. Jordi Massó introduced me to the Kidney matching problem, to strategy-proof social choice functions and stable coalition problems. It opened my eyes and I did a PhD in economics.

Niclas Moneke

Climate change will hit 500 million people in extreme poverty the hardest. Why? What can we do to address climate change without neglecting development for low-income countries? Development economists have long studied how market forces and policy can help eradicate poverty, but climate change will raise the stakes -- essentially combining two defining challenges of our time into one.

Barbara Petrongolo

I was drawn towards quantitative disciplines like maths or statistics and at the same time I was interested in questions that are typical of the social sciences. The combination of these interests made economics a natural choice, and even more the choice of specializing in labour economics. Major events in people’s work life determine their economic fortunes and their happiness (or unhappiness). Often an individual’s career shapes their identity and their sense of worth for society.

Federica Romei

I initially wanted to study medicine, then, at the very last minute, I realized that I would have never passed the University entrance test for Medicine, since I was not studying for it. Therefore, I picked Economics, instead, without knowing much about it. In Italy, it is not common at all to study Economics during high school, so I had a very vague idea of what it was. When I started my studies, I realized that I liked Economics a lot. I realized that it is a mix of math and social science. Therefore, very soon, I became passionate about it.

Find out about our outreach series: What Economists Really Do

The field of economics benefits from diverse voices and perspectives. The dynamic and interdisciplinary nature of economics demands a range of viewpoints to effectively analyse complex problems and devise innovative solutions. Economists are working with governments and businesses around the world to improve policy and make the economy work better for everyone. Find out how economics can be used to shed light on some of the biggest issues facing society today. 

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Economics and finance personal statement example 15.

Through life's experiences, I have come to realise that the economy affects almost everything in the world. Newspapers dedicate more headlines to financial issues in comparison to other topics. This has led to the realisation that without a good stable economy the world could fall to its knees, for example, the Wall Street collapse of 1929 and the more current financial crisis which started in 2007. These factors have influenced my decision to study a finance and economics related degree in university.

I have always had a keen interest in the business environment therefore the BTEC certificate in Business combined with the Certificate and Diploma in Financial Studies I am currently studying at college has provided me with valuable insight into the world of business and finance. Studying Maths at A level alongside this course has helped to increase my understanding of financial calculations, i.e. ratios and cash flow forecasts. I was pleased to be predicted an A for my A level Maths as it reflects all my hard work and dedication. The Business course has provided me with the opportunity to broaden and increase my knowledge with regards to economic and financial issues. This was through the various assignments such as starting up and financing a small business. Through research, I identified that customer satisfaction is a key priority within business organisations. Therefore in order for a business to be successful they need to keep their customers happy.

It is my strong personal belief that like the saying: "Knowledge is power", the road to success lies through education, and in the financial market, knowledge about the economy and the risks involved is crucial if you want to succeed. This has led me to admire and respect successful entrepreneurs such as Sir Allen Sugar and Stelios Haji Loanu. Personally, I would like to work for an international leading bank facing different challenges whilst working in different environments. This will give me the opportunity to deal with financial decisions that will help increase corporate value whilst managing financial risks. The desire to make my community a better place encouraged me to undertake voluntary work. My current post as a Youth Assistant worker gave me the opportunity to organise various events, with the aim of bringing the youths together. This helped to develop my team working and social skills. It was important to be able to work effectively with the other members in order for the event to be a success. In addition to this, I helped to manage the finances and ensure that our budget would cover any events or trips planned. We recently hosted a successful event called 'Black Dreams', which was aimed specifically at young black boys, and was sponsored by local government. During such events, we would socialise with the youths, something that I personally enjoyed and felt like it boosted their confidence and self-esteem. It also helped to develop valuable skills such as organisational skills and good communication skills.

During secondary school, I was actively involved in the highly recognised scheme Aim higher and I was given an award for being innovative and creative. Strong-minded, innovative, risk-taker - These are all qualities that I feel are necessary for anyone who wants to enter the financial field, especially with the world's economy as it is and are qualities that I have in abundance. In conclusion, I hope that taking this course at university will equip me with the necessary intellectual knowledge and practical skills needed when making economical or financial decisions. This will be essential for any career path within the finance and business industry.

Profile info

This personal statement was written by mscaro for application in 2011.

mscaro's university choices Aston University Brunel University Oxford Brookes University

Green : offer made Red : no offer made

Degree Economics, Finance and Banking at Nottingham Trent University

This personal statement is unrated

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7 Reasons Why You Should Study Economics

• 30 Nov 2017

An economics course can teach you the fundamentals needed to decipher graphs and other important financial data, as well as the tools to develop a successful business strategy.

But how can you know if studying economics is right for you? Consider the possible outcomes of various economics programs and how they compare to your personal and professional goals.

What Is Economics?

At its core, economics is the study of how individuals, groups, and nations manage and use resources.

Economics can be broken down into microeconomics , which examines individual decisions, and macroeconomics , which is concerned with the economy as a whole. Both types of economics utilize historical trends and current conditions to inform business decision-making and make predictions of how markets will behave in the future.

Why Is Studying Economics Important?

Students who choose to study economics not only gain the skills needed to understand complex markets but come away with strong analytical and problem-solving skills, as well as the business acumen necessary to succeed in the professional world.

In fact, economics can be useful for professionals in all industries and aspects of daily life, not just in business.

Access your free e-book today.

7 Reasons to Study Economics

Here’s a look at seven advantages of studying economics and how it can benefit both your organization and career.

1. You'll Expand Your Vocabulary

Whether it’s scarcity (limited resources), opportunity cost (what must be given up to obtain something else), or equilibrium (the price at which demand equals supply), an economics course will give you fluency in fundamental terms needed to understand how markets work. Even if you don’t use these words often in your current role, studying these economic terms will give you a better understanding of market dynamics as a whole and how they apply to your organization.

2. You’ll Put New Terms into Practice

Economics isn’t just learning a set of technical words, it’s actually using them to develop a viable business strategy . Once you understand the terms, it’s easier to use theories and frameworks, like Porter’s Five Forces and SWOT analyses, to assess situations and make a variety of economic decisions for your organization. For example, many companies need to decide whether to pursue a bundled or unbundled pricing model or strategize for the best ways to maximize revenue .

3. You’ll Understand Your Own Spending Habits

Economics will teach you about how your organization and its market behaves, but also offer insights into your own spending habits and values. For example, Willingness to Pay (WTP) is the maximum amount someone is willing to pay for a good or service. There’s frequently a gap between hypothetical and actual WTP, and learning about it can help you decode your own behavior and enable you to make wiser financial decisions.

For Shamari Benton, the concepts he learned in Economics for Managers opened his eyes to how everyday decisions are infused with economic calculations and principles.

“A simple grocery store visit becomes filled with economic references and analytical ponders,” Benton says.

4. You’ll Master the Nuances of the Field

Many people think of economics as just curves, models, and relationships , but in reality, economics is much more nuanced. Much of economic theory is based on assumptions of how people behave rationally, but it’s important to know what to do when those assumptions fail. Learning about cognitive biases that affect our economic decision-making processes arms you with the tools to predict human behavior in the real world, whether people act rationally or irrationally.

5. You’ll Learn How to Leverage Economic Tools

Learning economic theory is one thing, but developing the tools to make business decisions is another. Economics will teach you the basics and also give you concrete tools for analysis. For example, conjoint analysis is a statistical approach to measuring consumer demand for specific product features. This tool will allow you to get at the surprisingly complicated feature versus price tradeoffs that consumers make every day.

For example, imagine you work for Apple Inc. and you want to know what part of the iPhone should improve: Battery life, screen size, or camera. A conjoint analysis will let you know which improvements customers care about and which are worth the company’s time and money.

6. You’ll Be Better-Prepared for Graduate School

In addition to helping you make better decisions in both your personal and professional life, learning economics is also beneficial if you’re considering a graduate business degree. Studying economics can equip you with the problem-solving skills and technical knowledge needed to prepare for an MBA .

An MBA typically includes courses in finance, accounting, management, marketing, and economics, so if you decide an MBA is right for you, you’ll already be one step ahead. Furthermore, a foundational knowledge of economics enables you to use economic theories and frameworks to decide if graduate school is worth the financial investment.

7. You’ll Improve Your Career Prospects

An education in economics can improve your employability in a variety of industries. According to the World Economic Forum's Future of Jobs Report , analytical thinking and complex problem-solving skills top the list of transferable skills that employers will find increasingly important by 2025, both of which can be gained by studying economics.

In addition, many careers require knowledge of economic concepts, models, and relationships. Some possible career paths for economics students include finance, banking, insurance, politics, and healthcare administration . You’ll also be able to further your career in your current industry, as an understanding of the economics that power your industry can help you to be more effective in your role.

Options for Studying Economics

There are many options available for those looking to pursue an education in economics. Depending on your personal and professional goals, your current stage in life, and other important factors, you may choose to pursue an undergraduate or graduate degree in economics or take an online economics course to expand your future career opportunities.

Whether you're new to the business world or an experienced manager, having a thorough understanding of how markets work, pricing strategy, and consumer behavior is essential to success.

Do you want to take your career to the next level? Explore our eight-week online course Economics for Managers or other business essentials courses to learn how to apply economic principles to business decisions.

This post was updated on June 8, 2022. It was originally published on November 30, 2017.

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• Successful Personal Statement For Economics & Management At Oxford

Last Updated: 22nd April 2020

Author: Adi Sen

Table of Contents

Welcome to our popular Personal Statement series where we present a successful Personal Statement, and our Oxbridge Tutors provide their feedback on it. 

Today, we are looking through an Economics and Managment applicant’s Personal Statement that helped secure a place at Oxford University. The Economics and Management Course at Oxford examines issues central to the world we live in: namely how the economy and organisations function, and how resources are allocated and coordinated to achieve the organisation’s objectives.

Read on to see how this candidate managed to navigate the many disciplines of E&M. 

Here’s a breakdown of the Personal Statement:

SUCCESSFUL?

The universities this candidate applied to were the following:

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Economics and Management Personal Statement

Economics is the study of now. I view it as the study of the psychology of the people who dictate our lives. The world around us is shaped by the fundamental concept of supply and demand, wants and needs, goods and services. What grips me is that everything I have studied I can apply to real life. Discussions about inflation, for example, are so applicable since its current status is active in the world of pricing; the price of a Big Mac and “Burgernomics” is something to which I can relate from my travels.

The statistical aspect of economic analysis is closely linked to my interest in Mathematics, thus I will take an Econometric route on option modules. This scientific approach to what is otherwise a field-based solely on individual theories and concepts interests me, as I find quantitative analysis much more accurate and reliable than qualitative theories. As an example, I relish analysing more Econometric models on the A-level Course: like Profit Maximisation calculations.

Despite this, Economics intertwines both Maths and Philosophy on a regular basis. I recently read an article from the Guardian by George Monbiot, which discussed the cost-benefit analysis model and whether nature could be quantified as a tangible asset, and how this would benefit neo-liberals in their perpetual quest for profit. This is just an example of how Econometric analysis does not always deliver such verisimilitude where the figures given are ambiguous. This is what is unique about Economics: there is no right answer to the question ‘Is there a right answer?’ The concept of there being methods of analysing the psychology of and nature behind the way that the interface between consumers and producers operates seems to exceed all other subjects in terms of interest.

I find it peculiar that a subject that has such a ubiquitous undercurrent in our society is so undefined and obscure; it is undoubtedly this which draws me to it. Consequently, I strive to keep up with Economics in the modern world by reading the “I” and “Guardian” newspapers, and “The Economist” magazine regularly. For wider background reading I have read Marx’s “Communist Manifesto”, Tim Hartford’s “The Undercover Economist” and “Too Big To Fail” by Andrew Ross Sorkin.

Sorkin’s book provided a gripping, in-depth insight into the world of investment banking and entrepreneurship – I finished the book in a matter of days. His book has inspired me to enter the investment sector. Upon graduation I would like to become an investment banker or negotiator, hence I am in the process of trying to arrange some work experience with the London Metal Exchange.

I completed a programme of work experience with Linden Homes this summer, through the Career Academy Programme on which I am enrolled. It was a six-week internship during which I gained a firm understanding of a construction company’s place within the national economy. I enjoyed spending valuable time in a variety of departments within the firm. I also have work experience planned in Belgium in 2013.

Additionally, I participate in a multitude of extracurricular activities. My team and I finished second in the national UMPH Business Competition; in Year 11 my team set the school record for the Enterprise Day Challenge and for three consecutive years my team won the Grimsby Inter-School Quiz without loss. Furthermore, I am part of both the Franklin College Debating Team and the weekly “Blue Sky Club”, where students meet to discuss current affairs.

Recently, a particular subject of interest has been the US election. We frequently discuss the debates and the candidates, covering subjects like their political viewpoints and how it will affect both our lives and those of the American public – plus the potential Economic ramifications of the possible outcomes. With a genuine zeal for the subject and an ability to relate my studies to the real world, I am convinced that I will thoroughly thrive at degree level Economics.

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• 28 example Oxbridge Personal Statements
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Good Points Of The Personal Statement

The student gives a good insight into their academic interests and what’s inspired them to develop over time. They also demonstrate a passion for the subject, not only by stating their interest in it but by further explaining what interests them and why they would make a good candidate to study it at university. The student is already accomplished and explains well what they’ve gained from their various extra-curricular activities.

Bad Points Of The Personal Statement

The writing is weak and, at points, unnatural. The forced interjections of examples and unusual adjectives make it read like a student attempting to write a formal and formulaic exam essay. They would do better to write in their usual style, even if it is somewhat informal; this will allow them to better express themselves and they will come across as more interesting to those reading it. More importantly than this, however, at times, the student fails to keep up their otherwise good level of detail, and the writing becomes list-like.

This is particularly prominent when they discuss books they’ve read to develop their understanding of economics. Although they expand on one of these, they do so in little detail. Interviewers are unlikely to be impressed by simply mentioning that you’ve read a book – any student applying for degree-level economics is able to read The Communist Manifesto, for instance – but they will be impressed by your response to it and what you gained from the experience of reading it. Unless you expand on these details, a list of books you’ve read does nothing to contribute to the statement.

UniAdmissions Overall Score:

This statement is strong, except where it discusses academic work. The detail here was likely sacrificed in favour of expanding further on their extra-curricular activities and their particular areas of interest. However, they have limited discussion of their study of various classic economic works so severely that it fails to add anything to the piece. The statement would, therefore, benefit from a more balanced approach to the various areas of the student’s life.

We give this Economics Personal Statement a 4/5 as they have clearly projected their passion for the subject onto paper – the most important part of a strong Personal Statement – albeit this was at the cost of other factors that should have been covered in more depth.

And there we have it – an Oxford E&M Personal Statement with feedback from our expert tutors. 

Remember, at Oxford, the Admissions Tutors are often the people who will be teaching you for the next few years, so you need to appeal directly to them.

Our Free Personal Statement Resources page is filled with even more successful personal statements and expert guides.

Our expert tutors are on hand to help you craft the perfect Personal Statement for your Oxford E&M application.

With our  Oxbridge Economics Premium Programme we help you craft the perfect Personal   Statement , achieve a highly competitive TSA score and teach you how to  Interview effectively.

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Economics Personal Statement

My desire to study Economics at university stems from my interest in the incredible pace of change in the world. Development Economics fascinates me and I believe the greatest challenges in our future will be of an economic origin. I am intrigued by the on-going issues we face, such as allocating ever depleting resources and the ‘tragedy of the commons’, as well as issues which have become more acute in recent years, such as globalisation and global poverty.

Through reading around my Economics course I discovered how historical economic models could be applied to modern situations. A particular example which appealed to me was Harford’s demonstration in ‘The Undercover Economist’ of how Ricardo’s 1817 farming analysis could explain diverse situations, such as coffee shops and high rent prices in London . Recently I read Collier’s ‘The Bottom Billion’, after learning about high taxation in poor countries from an article in a June 2015 ‘The Economist’. I was drawn to the idea that this could stimulate growth because it contradicted the low taxation neoliberal hegemony I had previously encountered. I think Collier’s proposed solutions, despite some being controversial (e.g. military intervention), are sensible and could be highly effective. Naturally, I am yet to look at all of the solutions posed by different economists, however I believe it is a challenging and stimulating task to find viable resolutions.

Through my work-experience at Emirates NBD I learnt more about the application of economics to real-life. The real-estate team proved how scarcity influences the housing market: even during a slump in 2011, an apartment in Mayfair sold for above the asking price due to localised demand. I also shadowed the Emirates’ Head of the Treasury who explained how interest rates are set and the concept of net interest margin. This led me to explore financial management further: I am now able to follow market fluctuations in ‘The Financial Times’ with an informed opinion.

Living in Spain makes the study of European economics particularly fascinating for me. I enjoy following the Spanish and British economies; in particular, comparing the approaches taken by the Bank of England and the ECB to tackle their various economic issues. Although both the economies of Spain and the UK recovered slowly – with Britain having its longest recovery in 300 years of recorded history – the Spanish unemployment rate has remained persistently above that of the UK. For me, it is a fascinating challenge to understand the factors contributing to this ongoing problem for Spain.

Learning another language has given me a wider global perspective. It enables me to follow the news from more sources, giving alternate views, and keeping me informed on the Hispanic countries. Maths is an integral part of economics as it transforms theories into practical applications and I look forward to developing my skills and applying my knowledge in new ways. I enjoy tennis and drama. Last year I completed my Silver LAMDA qualification, which took commitment and careful time management. By tutoring maths I have also developed my communication style, in particular, the ability to convey complex information simply.

Economics is central to the human condition and gives the tools to understand some of the most important motivations of states and individuals in our increasingly global society.  I eagerly await the opportunity to understand more about the world we live in and, in the future, hopefully help to influence it for the better.

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Economics Personal Statement Advice

I am a prospective econ student in Y12 (although I don't take it for A level). So, I have just started my personal statement and have come to the stark realisation that I have no idea what to say; as well as this I feel my knowledge can't compete with an econ A level student. Any advice would be very much appreciated. Thank you.

Top Tips for an Oxford E&M Personal Statement

Oxford economics & management personal statement – top 10 tips: do’s and don’ts.

The Oxford E&M Personal Statement is a crucial component of your university application. It presents a unique opportunity for you to differentiate yourself from other applicants. You would be able to articulate your story and explain your interests beyond that of numbers on an admissions test. Furthermore, it gives the interviewer a chance to understand who you are. It also provides a platform to bounce off questions during your interview. 

They can tailor questions to your personality, interests, and commitment to who you are as a person and your amalgamation of experiences before you. To guide you through the arduous university application process, our Oxbridge application experts have compiled a list of top 10 Oxford Economics & Management Personal Statement tips. This includes dos and don’ts– for your Oxford Economics & Management Personal Statement for the 2024/25 application cycle.

General Advice for Oxford E&M Personal Statement

The Economics and Management degree at Oxford is grossly concerned with how organisations and the economy operates. It also involves how the world’s scarce resources are allocated to achieve organisational objectives. The economics branch examines how this allocation is influenced and determined by governments, consumers, and firms. It goes further into how they influence each other and are intrinsically linked to one another. Management, on the other hand, examines how to coordinate and use labour and resources effectively within a firm, such that its desired objectives are met. 

The knowledge from both economics and management are complementary, with the understanding of each intended to support and strengthen the other. Hence, when writing your Oxford Economics & Management personal statement, incorporate your interest and understanding of both fields. Furthermore, when planning out your Oxford personal statement, make sure you research Oxford’s achievements in their relevant fields. Use it as a guide to illustrate your interest in Economics and Management.

Top 5 Tips for Oxford Economics & Management Personal Statement

1. explain why you are a good fit for economics & management ..

Economics and management students would have vastly different personalities and interest profiles from that of students from other courses. For example, economics and management students should be particularly able to have flexibility. They should also demonstrate their ability in constructing and assessing arguments.  You should be able to demonstrate that you display these desirable qualities in your Oxford Economics & Management personal statement. You can do so by referencing experiences that you have gone through that have caused you to be equipped with such traits. For example, you can show that you are flexible in constructing arguments through past debate competitions, or essay competitions that you have participated in or won. An experience might not be directly related to economics and management. However, the skills and qualities that you could have picked up from going through that experience are transferable. They could also be useful to you as an economics and management student.

2. Having a strong understanding of what the economics and management course entails .

Usually students’ understanding of a particular course of study is shaped by what they have witnessed in films or from their high school experience in related subjects. Some students may have taken economics in high school, which would definitely lay a good foundation for the course. However, definitely do not expect your university experience to be one and the same! Some students may consider the course to be too math-heavy as per their expectations, or they did not be expecting to write as many essays. Do ensure that you thoroughly research the course syllabus and have a realistic understanding of what the course entails. Demonstrating a pragmatic and sensible understanding of the course in your Oxford Economics & Management personal statement would also be favourable in your application. You can illustrate that you are a good fit for the course. Furthermore, it can display to Oxford tutors that you have a thought-through and reasonable motivation for wanting to study Economics and Management. For example, you can explain that you enjoy being able to study both essay-based and mathematics elements.

3. Being well-read in economics and management .

It is always recommended that you display that you are well-read in your Oxford personal statement. This is because it is a great way to display that you are interested and passionate about the subject. It also shows that you are a wide reader and are comfortable with perusing large volumes of text. This is a handy skill in any humanities or academically vigorous course.  Some books that are relevant to the economics and management course include End this Depression Now by Paul Krugman. You can also read The Bottom Billion by Paul Collier. Do keep in mind that reading is not only restricted to books! This could also include news articles, magazine columns, or even podcasts, documentaries, or Youtube videos! Finding a medium or format that is more accessible or tailored to your style of learning would be a great way for you to incorporate more content into your everyday lifestyle. For example, you could listen to a podcast when you are travelling to school instead of listening to your usual playlist.

4. Allowing yourself sufficient time to write your Oxford Economics & Management personal statement .

Many people mistakenly think that they can leave their Oxford Economics & Management personal statement to the last minute as it is only a 4000-character count essay. However, remember that you need time to redraft your Oxford Economics & Management personal statement multiple times. You also need to buffer enough time for seniors, friends, or career guidance counsellors to take time out of their schedule to read your Oxford personal statement. They can provide feedback on your work, and you can refine it based on their comments!

5. Having a good structure .

Structure matters a lot when writing your Oxford Economics & Management personal statement. It enhances readability. It also allows you to communicate exactly what you intended to your admissions tutor without anything being lost in translation! A good structure would include a short introduction paragraph briefly introducing why you want to study economics and management. Next, your body paragraphs could highlight desirable qualities and traits. These could include those that an economics and management student should have. It could also include aspects of the course that aligns well with your interest or type of personality. You could lastly conclude by summarising key points that you would like your Oxford tutors to take away.

Top 5 things to AVOID for your Oxford Economics and Management Personal Statement

1. mentioning and listing every experience and achievement that you have done ..

Even though you would have done a variety of activities and experiences in high school, not all of them would be relevant in your application to be an economics and management student. Many students misunderstand the application process, thinking that Oxford is looking for the most decorated, well-rounded student. However, they are instead looking out for the student who is a good fit for the economics and management programme instead. You could be the perfect student, but that does not mean you are the perfect economics and management student. There may be a specific experience that you definitely want to include in your Oxford Economics & Management personal statement but it is not relevant to the course. You can include it by talking about relevant qualities or skills that you have picked up from the experience. For example, volunteering and mission trips might not seem directly relevant to economics and management. However, you could explain it by stating that they initiated your desire to study economics as you hope to seek a deeper understanding of economic policies that can help reduce inequality or poverty.

2. Focusing your Oxford Economics & Management personal statement on economics or management and not both.

Do not forget that the course that you are applying for includes both economics and management, and the course syllabus is roughly split equally between the two! If you only focus on economics or management and leave out the other, this could signal to your admissions tutor that you are not clear on the course you are applying to. However, understandably, you would be applying to five different schools and courses in your university admissions. If you are applying to four other economics courses and Oxford’s economics and management programme is the only choice you are applying to, you can still mention both by leaving a section of your Oxford Economics & Management personal statement on management to acknowledge and show it.

3. Turning your Oxford personal statement into an economics essay instead of explaining your interest in the course .

Many applicants choose to mention an economic theory that got them first interested in economics, to use it as an opening to their Oxford Economics & Management personal statement or when they are explaining about a book or an article that they have read. However, do keep in mind that the focus of the Oxford Economics & Management personal statement should always be why you want to study economics and management and why the course would be a good fit for you. Do remember that Oxford tutors would already be extremely knowledgeable in their field. This means that regardless of how obscure or unconventional the theory that you are explaining is, you would not impress your Oxford tutors with it. They want to learn about you, and if they wanted to learn about a theory, they would read a textbook!

4. Not reflecting whenever you bring up a personal experience .

Whenever you mention an experience that you went through, always elaborate on it by linking it back to economics and management. For example, you could mention how the experience has caused you to pick up desirable traits that an admissions tutor would want in an economics and management student. You could also elaborate on how participating in such activities was due to your interest in economics and management, or how it grew your passion for it.

5. Exaggerating or lying about experiences in your Oxford Economics & Management personal statement .

If you are invited for an interview, the Oxford admissions tutors would be basing some of their interview questions on your Oxford Economics & Management personal statement. This means that they are likely to ask you to elaborate on some experiences or theories that you mentioned in your Oxford Economics & Management personal statement. If you exaggerated or lied about any experience that you have mentioned, it is likely that the Oxford tutor would catch you in the lie or realise that you were exaggerating. It is better for you to come off as authentic than deceitful, so be truthful when explaining your story!

→What is the Oxford E&M program?

The Oxford Economics and Management (E&M) program is an undergraduate degree program offered by the University of Oxford’s Saïd Business School. The program combines economics and management to provide students with a comprehensive understanding of business, finance, and economics.

→What are some tips for writing a strong Oxford E&M personal statement?

Some tips for writing a strong Oxford E&M personal statement include researching the program and demonstrating an understanding of the subject, highlighting relevant academic achievements and extracurricular activities, showcasing leadership and teamwork skills, and demonstrating a genuine passion for economics and management.

→What should be included in an Oxford E&M personal statement?

An Oxford E&M personal statement should include information about the candidate’s academic achievements, extracurricular activities, work experience, and personal qualities that are relevant to the program. It should also include specific examples of how the candidate has demonstrated leadership, teamwork, problem-solving, and critical thinking skills.

→How long should an Oxford E&M personal statement be?

The Oxford E&M personal statement should be no more than 4,000 characters or 47 lines, whichever comes first. Candidates should use this space wisely to showcase their strengths and demonstrate their suitability for the program.

→Is it important to tailor the personal statement to the Oxford E&M program specifically?

Yes, it is important to tailor the personal statement to the Oxford E&M program specifically. This includes researching the program and understanding its unique features and requirements, as well as demonstrating a genuine interest in the subject and a strong motivation to study at the University of Oxford.

→How important is the personal statement for the Oxford E&M program?

The personal statement is a crucial part of the Oxford E&M application process as it allows candidates to showcase their passion for the subject and their potential to succeed in the program. The personal statement also provides the admissions team with insight into a candidate’s motivation, academic background, and personal qualities.

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What's on this page?

Study options, chat to a current economics student.

• Subjects it's useful to have studied first

Careers: Where it can take you

Getting in: entry requirements, other subjects you may be interested in, considering an apprenticeship, explore further, application advice.

If you choose economics, you’ll learn the fundamental forces that shape our societies. Exploring scarcity, choice, and resource allocation, economics teaches you the tools to understand complex economic systems.  

The subject has two main focuses:

• microeconomics – looks at households, businesses, and industries
• macroeconomics – looks at the economy as a whole

The study of economics opens many career paths, including roles in finance, consulting, government, and international organisations. You could end up at the forefront of economic policy, financial analysis, and strategic decision-making, contributing to economy growth  on a global scale. It's important to be aware that studying economics is heavily reliant on quantitative maths skills, so this is an important aspect to prepare yourself for and highlight in your personal statement. An economics education paves the way for impactful careers, where you can be a part of shaping economic landscapes and addressing contemporary challenges.

• Contribute to the development and evaluation of public policies.
• Drive business success by applying economic analysis to strategic decision-making.
• Play a part in positive economic change on a global scale.
• Macroeconomics
• Microeconomics
• Probability and statistics
• Mathematics for economists
• Programming for economists
• Econometrics

Options to study in this field include:

• undergraduate courses
• apprenticeships

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• Ask which modules they really enjoyed.
• Find out how easy it was for them to make friends on their course.
• Do they have any tips on your personal statement?
• Did they do anything to prep for uni before they went?
• Are there books, podcasts or YouTube channels they would recommend?  

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Subjects it's useful to have studied first

Some economics courses or apprenticeships will have requirements for previous qualifications in certain subjects. Entry requirements vary, so always check with the provider.

• Master statistical and mathematical techniques for analysing economic data
• Financial analysis skills to evaluate the performance of businesses
• Market research, including survey design, data collection, and analysis economic forecasting, including time series analysis and prediction methods
• Attention to detail, particularly in data analysis and research
• Presentation skills to articulate economic findings and recommendations
• Ethical reasoning skills
• Problem-solving skills to address complex economic challenges

Career options

Actuaries, economists, and statisticians

Management consultants and business analysts

Financial managers and directors

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Find out more about what you'll need to study economics at university or as an apprenticeship.

Average requirements for undergraduate degrees

Entry requirements differ between university and course, but this should give you a guide to what is usually expected from economics applicants.  

Accounting and finance

• Business and management studies  

Mathematics and statistics

• Politics  

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Apply to university and apprenticeships, find out more, economic observatory, the economist podcasts, keep up-to-date with the latest news.

• Be sure to highlight any instances where you applied analytical skills in your studies as this is an essential skill for economics.
• Maths is also an important subject so mention your ability in successfully applying mathematical concepts.
• How aware are you of current economic issues and trends? How do you make sure you’re informed about global economic events?
• Do you have any experience of leadership? That could be leading study groups, organising events or maybe even joining societies or clubs related to economics.
• What difference do you want to make in the world and how would studying economics help you achieve that goal?

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