The ultimate guide to get a bachelor’s degree in economics in 2023
Economics covers a wide range of topics; since it has been subdivided into macroeconomics (which examines the economy as a whole) and microeconomics (which is focusing on individual decisions).
Therefore, getting a bachelor’s degree in economics will help you gaining skills in a variety of high-stakes professions and guiding both your future decisions and predicting market trends so easily.
Since the 1800s, the field of economics has grown quickly, giving aspiring graduates a wide range of job options.
So, what exactly is the deal to study economics?
You will be able to make up your mind regarding your future in economics if you carefully consider the following tips.
What will you learn with a bachelor’s degree in economics?
Economics will help you to understand finances, historical trends, as well as predictions, and as a result, when you study a bachelor’s degree in economics, you will be able to make better decisions with a limited number of resources. In general, you will learn the following tasks:
- Examining limited resources and brainstorm ways to maximize the output while making use of those resources.
- Analyzing human behavior with the goal of comprehending people needs.
- Conducting surveys
- Creating Budgets
- Identifying issues with the economy and suggest potential solutions
- Publishing articles about both economy and the market
- Analyzing the various policies
How long does it take to get a bachelor’s degree in economics?
When you enroll in a full-time program, it takes four years to earn a bachelor’s degree in economics, that’s why you are required to complete a minimum of 120 credits at a regular school.
- General electives
- Core requirements
- Program-specific courses
However, if you are looking for more flexibility, you may study an online degree program in economics which will be a better fit for you than a traditional program. Some online programs have fast-track options that let students finish school in less than four years.
How to choose a bachelor’s degree in economics?
Do all bachelors programs in economics teach the same things?
The answer is No.
When choosing a program, you need to keep in mind that you can get either a bachelor of arts or a bachelor of science in economics. Both lead to careers in similar fields, but there are some differences between the two:
- A bachelor of arts in economics has a qualitative research approach and focuses on how demand and economy affect the society.
- A bachelor of science in economics focuses more on quantitative economics and examines the economy effects through mathematics and statistics.
Requirements to get a Bachelor’s Degree in Economics
When applying to earn a bachelor’s degree in economics, it is important to take a glance at the admission requirements by each school. Even though some of the requirements could be a little bit different, the majority of programs require:
- A minimum GPA, and submit ACT or SAT scores
- Personal essay /or letters of recommendation
- An application, transcripts, and test scores.
A bachelor’s degree in economics doesn’t have any special requirements, but it’s important for applicants to highlight experiences that are relevant to the program. For example, you may have a letter of recommendation from a math teacher.
How much does a bachelor’s degree in economics cost?
The average cost of tuition and fees for a bachelor’s degree is between $9,000 and $35,000. This depends on where you and if you are going to a public or private school.
You also can save money by attending a school located within your own state or by pursuing an online degree in economics from a school that provides out-of-state distance learners.
Top universities to get a bachelor’s degree in economics in 2023
Since the economics courses rank among the most popular ones in the field, we’ve combined here the top universities around the world to earn a bachelor’s degree in economics:
The Massachusetts Institute of Technology, United States
Both MIT’s undergraduate and graduate economics programs are highly regarded to study in the US and the institution was given the top spot in the world for economics in 2022.
It is also developing its research skills through programs such as the Undergraduate Research Opportunities Program, which is connected to a network of graduate students and faculty members. In addition, MIT provides top professors to teach the introductory courses to all the undergraduate students.
As a result of the fact that 34% of MIT’s student body is comprised of students from other countries and that MIT graduates are frequently hired by both national and international organizations, MIT is regarded as one of the most attractive universities in the world.
Harvard University, United States
Harvard University’s Department of Economics, which is currently ranked second in the world, is responsible for producing a number of Nobel Laureates in Economics. More than fifteen seminars per week are presented by leading economists from both the United States and internationally on a wide variety of economics-related issues. The university had more than 9,851 international students enrolled during the 2019-2020, from 153 different countries, demonstrating the university’s ability to successfully recruit top talents from all around the world.
Since 1962, Harvard University has been assisting students in becoming acclimated to their new environment by offering a host program that pairs international graduate students with residents from Boston.
As an Undergraduate student majoring in economics at Harvard University, you will have access to a variety of funding possibilities for research, as well as internships and positions working as research assistants.
University of Lincoln, United Kingdom
University of Lincoln is ranked among the top universities in the world to study in the UK for economics. This is due to the fact that it is home to one of the largest economics departments in the entire country.
It provides a truly international education and gives you the chance to study a bachelor’s degree in economics that will help you developing the tools needed to evaluate economic issues, and to explore new trends in the present economic environment.
In addition, the economics department frequently focuses on worldwide topics such as climate change and economic development, that’s why it is an excellent choice for students who are interested in gaining a global perspective.
Erasmus school of economics, the Netherlands
The Erasmus School of Economics, which has been given a QS ranking of 44th in the world and 12th in Europe for Economics and Econometrics, has 30% of international students.
It is quite evident that the Erasmus School of Economics is one of the best schools to study in the Netherlands, since it is working on recruiting intellectual talent from all around the world since it offers two scholarships that are designated solely for students from outside the EEA.
It will help you with both the immigration requirements and the search for accommodation, which are two of the most difficult challenges for incoming students.
University of Melbourne, Australia
The University of Melbourne, which is ranked first to study in Australia and 25th in the world for Economics, has managed to attract a 40% of its student body from outside of Australia.
Since 1855, the University of Melbourne has been offering a bachelor’s degree in economics to all students around the world. It is home to a number of distinct research centers, one of which is an experimental economics laboratory. This particular facility puts various economic ideas to the test in a laboratory setting.
ETH Zurich, Switzerland
In the field of economics, the ETH Zurich holds the first spot to study in Switzerland and the 35th spot in the world. You will have the chance to combine your academic study of economics with a minimum of ten weeks spent working in an industrial setting. It’s also worth to mention that 38% of the student body at ETH Zurich is comprised of international students.
The economic department is responsible for doing both fundamental and practical research in the areas of management, economics, innovation, and system dynamics.
Its research focuses on enhancing the knowledge of the role that technology plays in organizations, societies, and economies. In addition to its focus on research, ETH Zurich is also interested in developing innovative teaching methods.
Hong Kong University of Science and Technology, China
Hong Kong University of Science and Technology is a new, cutting-edge university that provides international students with a vibrant student lifestyle as well as an outstanding entrance to China.
The department of Economics at this school was ranked 24th in the world and second in Asia. More than 60 different countries are represented among their student body, and 80% of their teaching staff came from prestigious universities in other countries.
The Economics department focuses on the economic growth, the economy of China, industrial organization, econometrics, and international economics. It also hosts monthly workshops with leading academics from all over the world.
Economics is something that everyone deals with on a daily basis, and it’s also the key to a promising future. If you get a bachelor’s degree in economics, you will have a greater understanding of the dynamics of the market, and from there, you will be able to apply what you’ve learned to so many organizations right after your graduation.
In addition, the study of economics is expanding at a fast pace. While Crypto currencies and financial technology are transforming the landscape of our world, those who have a good understanding of the economy will be the ones to lead our future into boundless possibilities.
What’s more, with Udrus, you will find unique and international programs to help you enhancing both your economic horizons and your global mindset at the same time.