Studies & Degrees in Economics
Economics Study Programs
Economics is a social science. The American Economic Association (AEA) gives several short definitions: the study of scarcity, the study of how people use resources and respond to incentives, or the study of decision-making. It often deals with wealth and finance, but it is not only about money. Economists also study health, gender, the environment, education and immigration.
The discipline has two main branches. Microeconomics studies individual decisions: how households, companies and markets behave, how prices form, and what happens under monopoly or competition. Macroeconomics studies the economy as a whole: growth, inflation, unemployment, and monetary and fiscal policy. A third pillar is quantitative method. Students learn mathematics, statistics and econometrics so that they can test ideas against data.
What students learn
The first years of a degree are similar in most countries. The Grado en Economía of the Universidad de Navarra is a typical example. First-year students take principles of microeconomics, principles of macroeconomics and quantitative methods; the second year adds game theory, probability and statistics, and basic econometrics. Later years bring electives and applied fields such as international finance and international trade, and the degree ends with a final project.
Economics is more mathematical than business administration and more theoretical than finance. Students who dislike mathematics should look closely at the syllabus before they choose.
Qualifications and levels
- Spain. The official bachelor's degree (grado) has 240 ECTS credits and takes four years. The Universidad de Navarra, for instance, teaches its degree in Pamplona in Spanish and English, with 80 places, and it can be combined with a law degree. Official master's degrees have 60, 90 or 120 ECTS credits.
- United States. Economics is a major within a four-year bachelor's degree, awarded as a Bachelor of Arts (BA) or a Bachelor of Science (BS). Binghamton University, for example, offers a BA, three BS degrees and a minor, and accelerated programmes in which students complete a bachelor's and a master's degree in five years.
- United Kingdom. A bachelor's degree is usually a BSc or BA. The BSc in Economics at London Metropolitan University is organised in three years of modules and includes the option of a credited work placement.
- Master's degree and PhD. Graduate study is highly mathematical. According to the AEA, most economics PhD programmes expect applicants to have studied advanced calculus, differential equations, linear algebra and basic probability theory, and about half of the students who enter a PhD programme earn a master's degree first.
Where to study it
Economics is one of the most widely offered subjects on SpainExchange, with 636 active schools. The United States has 190, Spain 69, the United Kingdom 42, Germany 23, Canada 20 and France 19. In Latin America, Argentina has 12, Brazil 10, and Chile and Colombia nine each. Australia has 10 and Italy nine.
Examples in Spain are the Universidad de Navarra, the Universidad de Cádiz and Saint Louis University, Madrid. In the United States the list includes Binghamton University, the University of Michigan, The Ohio State University and The University of Texas at Austin; in the United Kingdom, the University of Aberdeen and London Metropolitan University. Ghent University in Belgium and Tel Aviv University in Israel are examples elsewhere.
The language of instruction is usually the language of the country, but English-taught and bilingual degrees are common in this subject. Check the language and the mathematics requirement on each school's admission page.
Careers
An economics degree leads to many kinds of work. The AEA notes that roles in business are the most common, and that economics graduates also work in law, medicine, government, non-profit organisations, international relations and universities. Typical first jobs are analyst posts in banks, consulting firms, companies, public administration and research institutes.
The job title "economist" is narrower and usually needs a postgraduate degree. The US Bureau of Labor Statistics (BLS) states that economists typically need at least a master's degree, although some, mainly in government, start with a bachelor's degree, and others need a PhD. It counts about 18,600 economists in the United States in 2025, of whom 26 percent work for the federal government, and projects employment to grow 5 percent from 2025 to 2035.
Frequently asked questions
What is the difference between economics and business administration?
Economics studies how markets and whole economies work, with strong training in theory, statistics and econometrics. Business administration focuses on running a company: accounting, marketing, finance and management. Many universities offer both and let students combine courses.
How much mathematics does an economics degree involve?
A good deal. Quantitative methods, statistics and econometrics are compulsory in the first two years of a typical degree, and postgraduate programmes expect calculus, linear algebra and probability.
How long does it take to become an economist?
A bachelor's degree takes four years in Spain and the United States. Most economist posts require a master's degree as well, and research or university careers require a PhD.
Can I study economics in English in Spain?
Yes, at some universities. The Universidad de Navarra, for example, teaches its Grado en Economía in Spanish and English. Check the language of each programme before applying.