What is Economics?

Economics is about 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. The economic way of thinking can help us make better choices.

This site can answer your questions about studying Economics at university in the UK and help you prepare for university life.

Interested? Read on

News

The Economic Review

We are partnering with the University of Southampton to produce a magazine, the Economic Review.

2014 Young Economist of the Year

The Royal Economic Society and Tutor2U have announced the five winners of their essay competition.

Student Views

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"I was curious about everything that happens around me. Studying economics satisfies my curiosity."
—Economics student

"Economics is about the world around us; it’s current; it’s about the modern world; it’s about how we behave, how businesses behave and how the government behaves."
—James McCullagh, BBC Young Apprentice

"[E]conomics is about politics, it's about political choices, about how you want the market economy to work and who you think should bear what burden in difficult circumstances."
David Miliband

"A degree in economics is extremely useful even if you do not intend to become an economist. It is a numerate and theoretical degree, and signals to employers that you can handle figures and you have an analytical mind."
—Economics graduate

"The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else."
John Maynard Keynes

"By the end of the degree you emerge as a student who can read as well as a law graduate, compute as well as an accountant, and analyze data as well as a statistician."
—Economics student

"It is an excellent degree and provides you with a solid skills base. The ability to question things in the way that economics forces you to, and look for underlying causes/incentives, is very useful in the work place."
—Economics graduate

"The widespread poverty, misery, and crises in many parts of the world are strong reminders that understanding economic and social laws can make an enormous contribution to the welfare of people."
—Gary Becker, Nobel Prize Banquet speech

"Go for it! Economics is about a different way of thinking and looking at the world. You can apply the economic way of thinking to almost everything, not just to business or finance and such."
—Economics graduate


Resource pack for teachers and parents - including teaching resources and information on studying economics

Already studying Economics?

Visit our sister site
Studying Economics
a lifeline for current students of Economics, including advice on modules, tips for succeeding in your degree, and options for afterwards