Top Economics Universities in the UK

Top Economics Universities in the UK

Top Economics Universities in the UK
Pratima NeupaneTue Oct 11 2022

Economics studies scarcity and its effects on resource use, the creation of commodities and services, the expansion of production and welfare over time, and a wide range of complicated issues of paramount importance to society. Students will gain knowledge and skills in problem-solving, data analysis, computers, and written and oral presentations, all of which are highly valued and in demand in the current job market.

Undergraduate, postgraduate taught, and research degrees are offered in economics programs in the UK. As an overseas student, you have the choice of enrolling in one of the best schools or universities in the UK that offer economics-focused degree programs.

Bachelor's and master's degrees can cost you up to £44,000 annually. The program's core components are 

  • Microeconomics 
  • Macroeconomics 
  • Econometrics
  • Research Methodology
  • Economic Analysis
  • Dissertation 

After graduation, the degree can open doors for you in career fields like banking, hedge fund management, professional accountants, auditors, entrepreneurship, development, government consultancy, etc. The job title could be economist, professor, policy analyst, budget analyst, researcher, data scientist, or statistician.

Global ranking of some of the top universities in the UK for Economics courses

The following is a list of the top UK universities in the subjects, as determined by the USnews Rankings by Subject "Business and Economics."

Ranking

Universities/Colleges

Location

7

London School of Economics and Political Science

London 

11

University of Oxford

Oxford

19

University of Cambridge

Cambridge 

22

University of Warwick

Coventry

31

Imperial College London

London 

32

London Business School

London 

35

University of Manchester

Manchester

43

University College London

London 

54

Lancaster University

Lancaster

67

University of Leeds

Leeds

75

University of Sussex

Brighton

81

City University London

London 

85

University of Nottingham

Nottingham

116

University of Reading

Reading

Programs for Bachelors in Economics with tuition fees in the UK

A bachelor's degree in economics is a 4-year course offered by many universities in the UK. Here is a list of undergraduate degrees in economics offered by the UK’s top universities, along with the annual tuition fees for home and international students.

Universities/Colleges

Courses

Tuition fees per annum (Home)

Tuition fees per annum (International)

London School of Economics and Political Science

B.Sc. Economics

£9,250

£26,280

University of Oxford

B.A. (HONS) in History & Economics

£9,250

Between £28,950 and £44,240

University of Cambridge

B.A. in Economics

£9,250

£23,340

University of Warwick

Economics B.Sc.

£9,250

£22,280

Imperial College London

B.Sc. Economics, Finance and Data Science

£9,250

N/A

University of Manchester

B.Sc. Economics

£9,250

£24,500

University College London

Economics B.Sc. (Econ)

£9,250

£26,600

Lancaster University

B.Sc. (HONS) in Economics

£9,250

£22,650

University of Leeds

Economics B.Sc.

£9,250

£24,000

University of Sussex

B.Sc. (HONS) in Economics

N/A

N/A

Academic Requirements

  • An undergraduate degree requires a minimum of 60% at the intermediate level/ +2.

English Test Scores

  • IELTS: A minimum score of 6.5 and 6.0 in all elements.
  • TOEFL iBT: A minimum overall score of 87.
  • PTE: An overall score of 58. 

Programs for Masters in Economics with tuition fees in the UK

The table below lists the top universities in the UK that offer a postgraduate taught program in Economics or a closely related field.

Universities/Colleges

Courses

Tuition fees per annum (Home)

Tuition fees per annum (Home)

London School of Economics and Political Science

M.Sc. Economics

£31,584

£32,208

University of Oxford

M.Sc. in Economics for Development

£25,760

£32,760

University of Cambridge

M.Phil. in Economics

£ 23,613

£ 35,517

University of Warwick

M.Sc. Advanced Economics

£ 25,326

£ 27,930

Imperial College London

M.Sc. Economics and Strategy for Business

N/A

N/A

University of Manchester

M.A. Economics

£13,500

£25,500

University College London

M.Sc. Economics

£24,000

£32,100

Lancaster University

M.Sc. Economics

£14,500

£24,150

University of Leeds

Economics and Finance M.Sc.

£12,000 

£27,250

University of Sussex

Development Economics M.Sc.

N/A

N/A

Academic Requirements

  • A 4-year undergraduate degree in subjects like Business, Finance, or Economics from an accredited institution.
  • A minimum GPA of 3.0 on a 4.0 scale.
  • A GMAT or a GRE score if asked. 

English Test Scores

  • IELTS: A minimum score of 6.5 and a minimum of 6.0 in reading and writing.
  • TOEFL iBT: A minimum overall score of 94.
  • PTE: An overall score of 70. 

Programs for Ph.D. in Economics with tuition fees in the UK

A doctorate research degree in economics is a 3–5 year course offered by many universities in the UK. Here is a list of Ph.D. degrees in economics offered by the UK’s top universities, along with the annual tuition fees for home and international students.

Universities/Colleges

Courses

Tuition fees per annum (Home)

Tuition fees per annum (Home)

London School of Economics and Political Science

Ph.D. Economics

£4,704

£21,768

University of Oxford

D.Phil. in Economics

£9,710

£24,800

University of Cambridge

Ph.D. in Economics

£ 9,387

£ 28,401

University of Warwick

M.Res./Ph.D. Economics

£4,596

£20,720

Imperial College London

Doctoral program: Economics & Public Policy

£4,500

£4,500

University of Manchester

Ph.D. Economics

£4,596

£20,500

Lancaster University

Ph.D. Economics

£4,596

£19,520

University of Leeds

Ph.D. in the macroeconomy and macroeconomic policy

£4,596

£20,250

University of Sussex

Ph.D. in Economic Theory, Behavior and Experiments

£4,596

£18,975

Academic Requirements

  • A bachelor’s degree with a GPA over 3.0.
  • A relevant Master's degree with a minimum of 65% overall.
  • As part of the application, some universities also ask for a viable research proposal of up to 5000 words which has the potential to make a significant contribution to prior literature. 
  • GRE/GMAT score may be required.

English Test Scores

  • IELTS: Overall minimum score of 7.0 with a minimum 6.5 in each element.
  • TOEFL iBT: A minimum overall score of 94 with a minimum of 19 in reading, 19 in listening, 19 in speaking, and 22 in writing.
  • PTE: An overall score of 65 and a minimum of 50 in each test component. 

Top Economics Universities in the UK: Scholarships

Some of the scholarships offered to international students at different universities in the UK are listed below.

Universities/Colleges

Scholarship

Amount

London School of Economics and Political Science

Benjamin A. Gilman International Scholarship Programme

£5,000

Fund for Education Abroad Scholarship

£10,000

University of Oxford

Reach Oxford Scholarship

Course fees, annual grant towards living costs and one return air fare per year

Simon and June Li Undergraduate Scholarship

Course fees and a grant towards living costs

University of Warwick

CIM Master's Bursaries

£8,000

Fulbright Commission Awards

Full tuition waiver and £14,000 living stipend

Imperial College London

Dean’s Impact Scholarship

£20,000

Imperial Excellence Scholarship

£10,000

University of Manchester

British Chevening Scholarship

Full Tuition fees

University College London

The James Lanner Memorial Scholarship

£10,000

Top Economics Universities in the UK: Scope

As Economics is a varied discipline that is intertwined with many other professional spheres, the average salary in the UK after a degree in Economics varies depending on the sort of work that you take up. 

Another factor that influences wages after graduating in Economics in the UK is the academic institution's level of prominence and academic excellence. 

In the UK, an economics degree is typically followed by a salary of £39,000.

Top Recruiters:

Some top recruiters for economics professionals’ are:

  • Barclays 
  • Citi 
  • Morgan Stanley
  • UBS 
  • Deloitte
  • McKinsey 
  • KPMG
  • Accenture 
  • Amazon
  • Bank of America 
  • Unilever
  • Goldman Sachs
  • JP Morgan
  • Bank of America
  • Credit Suisse
  • IMF 
  • World Bank

Salary & Job Profile

Job Title

Range

Average

Economist

£22k - £54k

£34,207

Investment Analyst

£23k - £47k

£33,330

Economic Analyst

£27k - £56k

£37,955

Credit Risk Manager

£55k - £105k

£76,022

Management Consultant

£34k - £70k

£48,348

Economic Consultant

£26k - £46k 

£35,148

Financial Controller

£37k - £88k

£59,552

Demand Planner

£21k - £39k

£28,607

Quantitative Analyst

£44k - £93k

£63,966

Research Analyst

£24k - £41k

£31,051

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