Top 5 reasons why to study economics

October 24, 2023
5 min read
Cress Warnell

Choosing to study economics opens the door to career opportunities with high salaries and the potential to make a positive difference in the world. An economics course can equip you with transferable skills you can put to work in a wide range of future roles.

We've put together five reasons why studying economics can prepare you for both a prosperous and a satisfying life.

1. Economics is everywhere in life

Almost everything we do involves solving problems around managing resources and finances. Many of our individual decisions in everyday life can be explained in terms of economic theories.

When we're choosing between two brands in a grocery store or assessing the purchase of a major company, we're using decision-making skills which involve aspects of economics.

This means that to study economics is to give ourselves a strong foundation for making informed decisions about finance, business and many other subjects involved in our daily lives.

2. Economics offers career opportunities

The complex problem-solving skills, economic tools and insights into human behaviour mean that an economics graduate can choose from a rich variety of career paths. The worlds of banking, governance, law, commerce and finance all present opportunities to apply the knowledge and analytical skills gained through study.

In a world where many areas of professional life are becoming automated, there's growing demand for professionals with robust problem-solving skills, capable of deep analytical thinking and possessing in-depth understanding of economic theories.

The unique skill set enjoyed by economics graduates puts them in a place of being increasingly sought after for their knowledge of the world, consumer behaviour and market dynamics.

3. Economics gives you transferable skills

Because economics is a broad subject, touching on so many different areas of life, studying it provides knowledge and skills that can be applied in a wide variety of job roles.

These key skills include:

  • Research into economic concepts and real-life data.
  • Analytical thinking applicable to many areas of daily life.
  • Informed decision-making.
  • Communication in a constantly changing world.
  • Mathematics.

An economics degree helps give you a thorough understanding of how historical trends in consumer demand have influenced major business decisions and political choices. These factors have helped to shape our world.

The knowledge of how markets work and the economic issues that influence our choices and opportunities can help you stay one step ahead in your career.

4. Economics gives you a better understanding of the world

Studying economics can give you deeper insights into the challenges facing individuals, organisations, nations and the wider international community. You can see how countries and regions interact in a global economy, often managing limited resources to achieve economic growth.

A solid knowledge of economic theory, backed with understanding of how these concepts are played out in daily life, can help you to find future career opportunities. Economics students often find their way into senior positions in the worlds of politics, finance and education.

5. Economics helps you change the world for the better

No matter what your background, studying economics can help make local and international communities more equitable and sustainable.

Part of the World Economic Forum's mission is to bring together people from all walks of life who have the drive and influence to make positive change.

Poverty and inequality often have their roots in economics, whether at a local or an international level. Studying economics may be much more valuable than simply giving you good career prospects. An undergraduate degree can inform your knowledge of human behaviour, social science and the management of scarce resources, allowing you to inform and influence key decision-makers.

In summary: 5 reasons to study economics

  1. Economics is everywhere in life.
  2. Economics offers career opportunities.
  3. Economics gives you transferable skills.
  4. Economics gives you a better understanding of the world.
  5. Economics helps you to change the world for the better.

After studying economics as an undergraduate, you may decide to take a master's degree at graduate school.

Start your study of economics with Summer Schools

Your knowledge of the concepts and relationships behind economics can make all the difference to your future success.

You want a good job with influence? You want a job that will help make the world a better place? Both are good reasons to study economics. Take a look at the courses we have available, and that will help you get started.

Cress Warnell

Cress is a skilled copywriter who transforms ideas into captivating content. With a passion for words and a keen eye for detail, she crafts compelling copy for Summer Schools, helping students explore their options in education.

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