Are you curious about the best universities for economics in the UK? Here, we’ve compiled the latest UK university rankings in economics for 2024. This guide aims to provide valuable insights into the best economics programmes, helping you make informed decisions about your academic journey.
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What is Economics?
Economics is all about how people and societies make choices when they have limited resources. It helps us understand how we decide to use things like money, time, and materials to get what we want or need. It looks at how individuals, businesses, and governments make decisions about making and selling things, buying and using things, and how all of that affects prices, jobs, and the overall economy. It also helps us understand how different countries trade with each other and how policies and events can impact our money and the things we can buy. By studying economics, we can learn about how economies work and find ways to make them better for everyone.
You can get a brief overview of economics through this video. 👉
Why Study Economics in the UK?
People come to the UK to study economics for a lot of reasons. Here are some key reasons why learning economics in the UK is a great choice.
Prestigious Universities
The UK is home to some of the best universities with strong economics programs, such as the University of Cambridge, University of Oxford, and London School of Economics and Political Science. These institutions offer world-class education and are highly respected in the field.
Diverse and Multicultural Environment
Studying economics in the UK exposes you to a diverse student body from around the world. The UK attracts a large number of international students, creating a truly multicultural learning environment. According to the Higher Education Statistics Agency (HESA), in the academic year 2019/2020, over 485,000 international students were enrolled in UK universities, contributing to a diverse community of learners.
High-Quality Education and Research
UK universities place a strong emphasis on research and provide excellent resources for students to delve into economic theories, models, and real-world applications. You’ll receive a comprehensive education that equips you with essential analytical and problem-solving skills.
Access to Industry Experts
Being located in close proximity to influential economic institutions, UK universities often have strong connections with industry experts. Guest lectures, workshops, and networking events provide opportunities to engage with professionals, gaining insights and building valuable connections for future career prospects.
What are the Best UK Universities to Study Economics?
Here are the latest UK university rankings in economics for 2024, sourced from prominent publications such as The Complete University Guide, Times Higher Education, The Guardian University Guide, and QS University Rankings. Perhaps they will offer insights into the top UK universities for economics.
The Complete University Guide’s 2024 Rankings for Best UK Universities to Study Economics
In the realm of economics education, The University of Cambridge and the University of Oxford lead the pack, as highlighted by The Complete University Guide (2024). These institutions have gained a well-deserved reputation for their outstanding academic standing and exceptional economics programs. Joining the ranks of excellence are renowned institutions such as the London School of Economics and Political Science (LSE), the University of Warwick, and the University College London. These universities have solidified their positions due to their exceptional faculty and cutting-edge research in the field of economics. The University of St Andrews, Durham University, University of Bath, University of Exeter, and King’s College London complete the list of top UK universities for studying economics.
| UK Rank 2024 | UK Rank 2023 | Institution | City/Town |
| 1 | 1 | University of Cambridge | Cambridge |
| 2 | 2 | University of Oxford | Oxford |
| 3 | 3 | London School of Economics and Political Science | London |
| 4 | 4 | University of Warwick | Coventry |
| 5 | 5 | University College London | London |
| 6 | 7 | University of St Andrews | St Andrews |
| 7 | 6 | Durham University | Durham |
| 8 | 9 | University of Bath | Bath |
| 9 | 14 | University of Exeter | Exeter |
| 10 | 8 | King’s College London | London |
Times Higher Education’s 2024 Rankings for Best UK Universities to Study Economics
The University of Cambridge and the University of Oxford take the lead according to The 2024 Times Higher Education World University Rankings, known for their outstanding academic reputation and exceptional economics programs. The London School of Economics and Political Science, University College London, and University of Warwick also secure their positions with their exceptional faculty and cutting-edge research. Not to be overlooked, the University of Manchester, University of Edinburgh, King’s College London, University of Nottingham, and University of Reading complete the list, each offering a unique blend of academic rigor, diverse opportunities, and a vibrant student community.
| UK Rank 2024 | Institution | City/Town |
| 1 | University of Cambridge | Cambridge |
| 2 | University of Oxford | Oxford |
| 3 | London School of Economics and Political Science | London |
| 4 | University College London | London |
| 5 | University of Warwick | Coventry |
| 6 | University of Manchester | Manchester |
| 7 | University of Edinburgh | Edinburgh |
| 8 | King’s College London | London |
| 9 | University of Nottingham | Nottingham |
| 10 | University of Reading | Reading |
The Guardian University Guide’s 2024 Rankings for Best UK Universities to Study Economics
The 2024 edition of The Guardian University Guide has curated a list of highly recommended institutions in the field. At the forefront are the prestigious University of Oxford, University of St Andrews, and University of Cambridge, renowned for their academic excellence and robust economics programs. Joining them are the University of Brighton, Durham University, London School of Economics and Political Science, University of Essex, University of Warwick, King’s College London, and London South Bank University, each offering a unique blend of expertise and opportunities in the field of economics. Whether you’re interested in macroeconomics, econometrics, or economic policy, these universities provide a stimulating environment and a solid foundation for your academic journey.
| UK Rank 2024 | UK Rank 2023 | Institution | City/Town |
| 1 | 2 | University of Oxford | Oxford |
| 2 | 1 | University of St Andrews | St Andrews |
| 3 | 3 | University of Cambridge | Cambridge |
| 4 | 12 | University of Brighton | Brighton |
| 5 | 7 | Durham University | Durham |
| 6 | 4 | London School of Economics and Political Science | London |
| 7 | 22 | University of Essex | Essex |
| 8 | 5 | University of Warwick | Coventry |
| 9 | 26 | King’s College London | London |
| 10 | 44 | London South Bank University | London |
Best UK Universities to Study Economics According to 2023 QS University Rankings
According to the 2023 QS University Rankings, these institutions have proven their excellence in the field. Topping the list is the London School of Economics and Political Science, renowned for its cutting-edge research and comprehensive economics programs. The University of Oxford and the University of Cambridge also secure their positions with their prestigious academic reputation and world-class faculty. Other notable contenders include University College London, University of Warwick, London Business School, Imperial College London, University of Manchester, University of Edinburgh, and Queen Mary University of London.
| UK Rank 2023 | UK Rank 2022 | Institution | City/Town |
| 1 | 1 | London School of Economics and Political Science | London |
| 2 | 2 | University of Oxford | Oxford |
| 3 | 3 | University of Cambridge | Cambridge |
| 4 | 4 | University College London | London |
| 5 | 5 | University of Warwick | Coventry |
| 6 | 6 | London Business School | London |
| 7 | 7 | Imperial College London | London |
| 8 | 8 | University of Manchester | Manchester |
| 9 | 9 | University of Edinburgh | Edinburgh |
| 10 | 11 | Queen Mary University of London | London |
What Research Fields are Available for Studying Economics in the UK?
Here are some of the research fields in economics in the UK. These research fields offer a wide range of opportunities to explore different aspects of the economy, from the big picture of national economies to the individual decision-making processes.
Macroeconomics
Examining the overall behavior and performance of the economy, including factors like economic growth, inflation, and monetary policy.
Microeconomics
Analyzing individual decision-making and the behavior of households, firms, and markets, focusing on topics such as supply and demand, market structures, and consumer behavior.
Econometrics
Applying statistical and mathematical methods to economic data, enabling the testing and estimation of economic theories and relationships.
Behavioral Economics
Investigating how psychological factors influence economic decisions and behaviors, exploring topics like biases, heuristics, and decision-making under uncertainty.
Development Economics
Studying the economic challenges and strategies for promoting growth and reducing poverty in developing countries, including issues such as inequality, poverty alleviation, and sustainable development.
International Economics
Examining the interactions between countries in terms of trade, finance, and globalization, covering areas like international trade, exchange rates, and global economic policies.
Financial Economics
Analyzing the behavior of financial markets, investments, and institutions, with a focus on topics such as asset pricing, risk management, and financial market regulation.
Environmental Economics
Assessing the economic implications of environmental issues and policies, including topics like climate change economics, natural resource management, and the valuation of ecosystem services.
Health Economics
Investigating the economic aspects of healthcare systems and policies, studying topics such as healthcare financing, cost-effectiveness analysis, and the impact of health interventions.
What Job Opportunities can Economics Graduates Pursue in the UK?
When seeking the best UK universities to study economics, it is crucial to consider the potential future career paths. Studying economics in the UK can provide a diverse range of employment opportunities, here are some examples.
Economist
Analyzing economic trends, conducting research, and providing insights to organizations in both the public and private sectors.
Economic Consultant
Offering expert advice to businesses, government agencies, or international organizations on economic issues and strategies.
Data Analyst
Utilizing quantitative skills to analyze and interpret economic data, providing valuable insights for decision-making.
Market Researcher
Conducting market studies and analyzing consumer behavior to help businesses understand market trends and make informed decisions.
Financial Analyst
Assessing investment opportunities, analyzing financial data, and providing recommendations to individuals or organizations.
Policy Analyst
Evaluating the impact of policies on the economy, conducting research, and providing recommendations for policy development.
Business Analyst
Applying economic principles to analyze business operations, identify inefficiencies, and propose strategies for improvement.
Risk Analyst
Assessing financial risks, developing risk management strategies, and providing guidance to organizations to mitigate potential risks.
Economic Development Specialist
Working in government agencies or non-profit organizations to promote economic growth, poverty reduction, and sustainable development.
Banking and Finance
Pursuing careers in investment banking, financial planning, risk management, or financial consulting.
International Economist
Working on global economic issues, international trade, or economic relations between countries.
Entrepreneurship
Applying economic principles to start and manage your own business, identify market opportunities, and make strategic decisions.
Is UK Economics Degree Internationally Recognized?
Yes, an economics degree from a UK university is recognized globally. Some of the best UK universities to study economics have a great reputation for their high-quality education in economics. Famous universities like Oxford, Cambridge, and LSE contribute to the international recognition of UK economics degrees. Graduates from these programs are highly sought after by employers worldwide. They have found success in different countries and international organizations. The practical and analytical skills gained from studying economics in the UK make these degrees well-respected internationally.
Conclusion
In this post, we’ve highlighted some of the top universities for economics in the UK. These rankings for 2024 can serve as a valuable resource to assist you in selecting the best economics programmes available in the country. Take your time to explore these universities, weigh their distinct features, and make a well-informed choice that resonates with your academic and professional goals. Wishing you the best of luck on your academic journey in studying economics in the UK!
Best UK Universities for Economics FAQ
Is SOAS a good university for economics?
SOAS University of London, renowned for its expertise in the study of Asia, Africa, and the Middle East, offers good Economics programme. Additionally, SOAS’s unique focus on global perspectives and interdisciplinary approach in economics education makes it an attractive choice for students seeking a comprehensive understanding of the subject.
Is Queen Mary University good for economics?
Queen Mary University of London is highly regarded for its Economics programme. The university’s Economics department boasts renowned faculty members and offers a wide range of undergraduate and postgraduate programs in Economics. The university’s location in London also provides students with access to various economic institutions and opportunities for practical learning and research collaborations, further enhancing the quality of education in Economics at Queen Mary University.
Is City, University of London good for economics?
City, University of London is renowned for its strong economics programmes. In fact, it consistently ranks among the top institutions for economics in the UK. Additionally, its central location in London provides students with unique opportunities for internships, networking, and access to global financial institutions, further enhancing the quality of education in economics.
What are the entry requirements for studying economics in the UK?
Entry requirements vary among universities, but typically include academic qualifications such as A-level grades or their equivalent. Some universities may also require specific subjects or additional entrance exams like the Universities and Colleges Admissions Service (UCAS) exam.
Are there opportunities for research and internships in economics?
UK universities provide opportunities for research projects and internships, allowing students to apply their knowledge in real-world settings. These experiences enhance practical skills and can be valuable for future employment.
What factors should I consider when choosing a UK university for economics?
In addition to reputation and academic offerings, consider factors such as location, campus facilities, extracurricular activities, alumni networks, and overall fit with your personal preferences and goals.
