Top Schools for Master’s in International Economics in the United Kingdom
Master’s in International Economics in the United Kingdom
Are you interested in what drives the economy? Have you ever wondered where your money goes to when you purchase your favourite clothes? If these questions intrigue you, you may want to consider earning a Master’s in International Economics in the United Kingdom. This degree will help you understand the various economic systems and theories that govern the finances of the world. Unlike traditional economics programmes, this programme teaches economics from an international perspective. It will build and expand upon what you learned during your undergraduate years. The majority of students can earn this degree in one to three years.
What is a Master’s in International Economics?
International economics is a broad subject, and you will have to learn about the various types of economic systems, and whether or not they are effective. You will learn about systems such as capitalism, socialism, communism and others. Economics is closely related to political science and history, so you can expect to take courses in these subjects as well. If you intend to earn a Master’s in International Economics, you will probably participate in the following activities.
- Take courses in macroeconomics, economic theory, scarcity, post-colonial development and mathematics.
- Learn how to apply mathematical formulas and predict economic outcomes.
- Write a thesis or dissertation on an approved topic.
- Attend courses taught by experts in the economics field.
As you may have inferred already, this programme requires a strong grasp of advanced mathematical concepts. As an undergraduate, you should have taken courses in algebra, calculus, and elementary statistics. This will help you during your master’s studies.
What Are the Benefits of Getting a Master’s in International Economics in the United Kingdom?
If you elect to earn a Master’s in International Economics, you will probably encounter a wealth of personal and professional benefits. Some of these benefits will be noticeable at the start of your career, while others will take a bit longer to manifest. As an international economics major, you can expect to reap the following benefits.
- Economics is a versatile subject, and its concepts can be used in a variety of industries. The mathematical principles you learn will also allow you to seek work in the finance, scientific and engineering fields.
- The vast majority of statistics show that there is a strong correlation between income level and education. If you want to increase your salary, earning a master’s degree can probably help you do so.
- The UK is a leading world power, and it is home to many of the world’s best universities. Studying here will give you access to some of the greatest economics programmes in Europe.
- If you intend to pursue postgraduate studies, you will need to earn a master’s degree first. The master’s programme will help you develop research skills that will be immensely helpful in a doctoral programme.
As an economist who views issues from a world perspective, you will have a multitude of career options to select from.
What Kind of Career Can You Expect With a Master’s in International Economics?
As you may have guessed, many students with this degree elect to work as economists. Economists work for universities, government agencies, and private companies around the world. They offer their knowledge of taxation, trade, interest rates and inflation to their employers. They frequently help businesses survive during difficult economic times, and many attain high levels of public office. Academic economists often offer their opinion on various issues, write essays and articles, and perform research.
A significant number of economists elect to work in the finance field. These individuals work as accountants, bankers, risk managers and financial analysts. They help companies achieve their financial goals and reduce costs. When a company merges with or acquires another company, they help the existing company understand the financial implications. They may also engage in the following activities.
- Ensure that the organisation adheres to government tax policies.
- Advise executives and other workers about investments.
- Help clients achieve their personal financial goals.
- Analyse the validity and usefulness of financial policies.
If you choose to work outside of the economics field, you can easily find employment as a mathematician, physicist, engineer, statistician or political scientist. Other potential careers for economics students include:
- Public Policy Analyst
- Chief Financial Officer
If you are ready to major in international economics, find a degree programme in the UK and apply today.