For all international students interested in computing, problem solving, data analysis, management and handling, Economics courses such as diploma, bachelors and masters courses make as ideal options. A good economics course can lead graduates to becoming bankers, consultants, analysts, accountants, or handling departments of finances, human resources, business, PR and sales, marketing, secretarial and numerical work, etc and fetch you employment in leading names such as JP Morgan, Google, Amazon, etc.
What is Economics?
With the changing global scenario and consequent globalization, the study of economics and the economies is of prime importance. Economics courses focus on inculcating the following into the students-
Analytical skills - analysing research methods, data, conclusions and recommendations.
Numeracy - managing complex data and applying mathematical and statistical analysis methods
Problem solving - extracting information, reachingconclusions and suggesting recommendations
Computing - the use specialised software
Communication - presentations comprising of the complex data structures and their explanation
Time management - finishing tasks within assigned time limits
Economics courses abroad include the following concepts-
- Economics of Music
- Economics of Uncertainty
- Economics of the Internet
- Economics of the Labour
- Economics of Health and Healthcare
- Financial Investments
- International Monetary Economics
- Money and Banking
- Radical Markets
- Behavioral Economics
- Public Finance
- International Trade
- Industrial Organization
- Economic Perspectives on Inequality
- Economic Conflict
Apart from the above-mentioned concepts, Economics courses are complemented with subjects such as Mathematics, Law. Politics, Finance, Accounts, etc along with added seminar and workshops.
Why Study Economics Abroad?
Here is a list of reasons as to why studying Economics abroad shall be beneficial for all international students.
Quality Education: Countries abroad such as America, Australia, Canada are known for its quality education, that garners the attention of students from all over. They provide the students with the right balance for academic as well as practical knowledge, aiding an overall development of students.
Global Leaders: Many developed countries today are top leaders in education where quality education is provided. The degrees are globally recognised and thus valued all over the world.
Job Opportunities: The job scenario in abroad after a degree in Economics is as bright as it is for graduates from other vital streams. In fact, Economics graduates are currently very much in demand.
Permanent Residency and Citizenship: One of the greatest strengths for countries abroad such as Australia and Canada, apart from their higher education system is the permanent residency options it has to offer post study after some years of work.
The immigrant-friendly environment on and off-campus: Most countries like American, Canada, UK, Australia, Germany, etc are perfect hosts for all kinds of people flying in from different corners of the world.
What are the Top Courses Offered in Economics Abroad?
Here is a list of the top economics schools, for study in bachelors and masters degree for Applied Economics, Development Economics, Econometrics, International Economics, etc, as per the QS world rankings. These offer Bachelors of Commerce, Bachelor of Economics, Bachelor of Applied Economics and subsequent Master degree in Economics and related Finances and prepare students for professions that require the knowledge of the workings of the economy including households, individuals and firms that interact in the market; government's intervention and the economic theory and its applications in a wide array of situations.
- Cornell University, Ithaca, NY
- New York University, New York City
- Northwestern University, Evanston, IL
- Stanford University, CA,
- University of California, Los Angeles
- University of Michigan, Ann Arbor
- University of Pennsylvania, Philadelphia
- University of Buckingham, UK
- University of Leeds, UK
- Auckland University of Technology, New Zealand
- La Trobe University, Australia
- University of Sydney
- University of Adelaide
- University of Glasgow
- University of Fraser Valley
- Victoria University of Wellington
- Trent University
- University of Western Australia
- Texas State University
- Virginia Tech
- PhD in Economics courses abroad-
- Harvard University
- MIT University
- Princeton University
- Chicago University
- Stanford University
- University of California
- Yale University
- Northwestern University
- University of Pennsylvania
- Columbia University
What are the Top Countries to Study Economics Abroad?
The top countries to study Economics courses abroad, be it for graduate or postgraduate courses, are as follows-
- United States of America
- New Zealand
What are the Top Universities for Economics Abroad?
The best universities to study Economics courses abroad as per the QS world rankings are as follows-
University of Pittsburgh, United States of America
University of Oxford, United Kingdom
Harvard University, United States of America
New York University, United States of America
Yale University, United States of America
University of Cambridge, United Kingdom
London School of Economics and Political Science, United Kingdom
Rutgers University, United States of America
University of Columbia, Berkeley, United States of America
University of Edinburgh, United Kingdom
University of Paris, Pantheon Sorbonne
KU Leuven, Belgium
University of Princeton,United States of America
Australian National University, Australia
Humboldt University, Berlin, Germany
University of Toronto, Canada
Stanford University, United States of America
Massachusetts Institute of Technology, United States of America
University of Sydney, Australia
University of Helsinki, Finland
Peking University, China
University of Geneva, Switzerland
University of Barcelona, Spain
University of Copenhagen, Denmark
University of Amsterdam, Netherlands
Seoul National University, South Korea
What are the Requirements to Study Economics Abroad?
In order to study Economics courses abroad, here is a list of requirements you are asked for-
Educational Qualification- Economics background and must have studied one of the list of subjects mentioned above.
International Baccalaureate with 6,5,5 at Higher level, 33 points overall.
Language Proficiency- IELTS of 6.5 overall with no lower than 6 in any component or TOEFL (IBT) 92 overall with minimum of 21 in listening and speaking, 22 in reading and 23 in speaking.
SAT/GRE/GMAT scores, depending on the course, country and university.
For most Master’s courses in Economics abroad, here is the set of requirements.
Educational Qualification: A graduation degree of 3 years after completion of school education is required. In many cases, education of 16 years is considered. All the marksheets along with the transcripts are needed.
Resume: A resume that highlights your education and professional qualification for MS or MBA course get demonstrated.
IELTS score: A minimum of 6.0-6.5 in IELTS or equivalent in TOEFL and PTE is required to qualify for education abroad.
GRE/GMAT score: GRE or GMAT test scores are required and the eligibility requirements vary from university to university.
Statement of Purpose: A Statement of Purpose is an essay that explains the reasons to pursue a particular course. It is the academic and professional summary of an individual which also explains their interest in the course.
Letter of Recommendation: LORs are required in order to establish credibility of your application. An LOR from the Head of Department is must to get an edge over other applications.
What are the Scholarships available for Economics courses Abroad?
Most of the study abroad courses can prove to be a bomb on the pocket. However, there are several grants and scholarships that are offered by countries, states, universities and even public figures and philanthropists, in order to provide financial aid to the bright students in need. Here is a list of scholarships available for Economics undergraduate, postgraduate and PhD courses abroad.
- Rhodes Scholarship
- Fulbright Scholarship
- Hong Kong PhD Fellowship Scheme for International Students
- Holland Scholarship for Non-EEA International Students
- British Chevening Scholarships for International Students
- UNIL Master’s Grants in Switzerland for Foreign Students
- ETH Zurich Excellence Masters Scholarships
- Commonwealth Shared Scholarship Scheme at UK Universities
- DAAD Scholarships in Germany for Development-Related Postgraduate Courses
- Hubert Humphrey Fellowships in USA for International Students
- Civil Society Leadership Awards
- OFID Scholarship Award for International Students
- AAUW International Fellowships in USA for Women
- Japanese Government Scholarships for International Undergraduate Students
- Schwarzman Scholars Program at Tsinghua University
- Australia Awards Scholarships
- UEA International Development Scholarships for International Students
- Eiffel Scholarships in France for International Students
What are the Career Options for Economics Abroad?
Since the economics graduates and postgraduates are very much in demand these days ,they get employed into the following fields.
- Charitable and not-for-profit organisations
- Banks (high street and city)
- Insurance and accountancy firms
- Government departments and think tanks.
Over 65% of Economics graduates get employed, with over 56% getting absorbed into Business, HR and financial occupations, whereas over 14% pursue further studies. Most popular jobs that economics graduates and postgraduates opt for are as follows-
- Actuarial analyst
- Chartered accountant
- Chartered certified accountant
- Chartered public finance accountant
- Data analyst
- Financial risk analyst
- Forensic accountant
- Investment analyst
- Business development manager
- Civil Service fast streamer
- Data scientist
- Diplomatic service officer
- Local government officer
- Management consultant
- Quantity surveyor