Economics is about scarcity and choice, and the impact of our choices on each other. It relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and firms. An economic way of thinking can help people to make better choices.
Economics is the right subject for you if you enjoy:
- debating economic issues such as inequality, immigration and how we should pay for healthcare
- using and interpreting data to analyse economic problems
- discussing alternative courses of action for example in the Budget or when setting interest rates
- understanding international trends, such as why poverty is falling so fast around the globe
Most students at A Level haven’t studied Economics before. You might have an interest in Economics and want to know more about the impact of government policies on the world around you. You might want to investigate some of the stories you hear in the news – Why do some economies grow and others don’t? What will trade be like after Brexit? Will there be another global financial crisis? This course will help you to understand all this and more.
Studying Economics will help you develop transferable skills that will prepare you for studying at university or moving into the world of work. These include skills in data interpretation and essay writing. With an Economics A Level and related degree you can work in a variety of different fields from stock broking, finance and banking, public policy, sales and marketing, civil service, journalism, insurance and actuarial work. More recently there has been growing demand for Health and Environmental Economists as well as for those willing to travel and work in Development Economics.
Five years after graduation, the income gap between students who studied the subjects that attract the highest and lowest salaries can be considerable. Economics comes second highest after medicine and dentistry, taking home an average of £42,000 five years after graduation, according to the IFS in 2019.
The most important thing is that you enjoy what you study, and do not feel that you need to understand everything the first time that you see it. Economics gets your brain “muscle” working! “It’s a great subject for those with questioning minds, curious about what goes on around them. And what’s more, it’s fun!” Lucy Rock, News Editor, The Observer
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