Bachelors in Economics: Top Universities, Courses, Cost, Requirements, Eligibility & Scholarships

A Bachelor's in Economics is crucial for entry-level positions in fields like economic analysis, policy-making, and data research. These roles require you to possess core skills like critical thinking and a deep understanding of global markets. 

Studying this degree in countries like the USA, UK, or Canada prepares you for a career in both the private and public sectors.

In the USA alone, over 1,000 openings for economist jobs emerge each year. A minimum qualification of a Bachelor's can open doors to working with government agencies and global organizations like the UN. Additionally, pursuing bachelors in economics abroad can lay the foundation for further studies, such as a PhD in Germany. 

This blog will explore the top universities in the world for Economics and provide insights into your study abroad journey.

Bachelors in Economics Abroad: Overview

A Bachelor's degree in Economics typically takes 3 years and covers important themes like microeconomics, macroeconomics, statistical analysis, and economic theory. This degree prepares you for diverse roles, from economic analyst to policy advisor, providing a foundation for careers in government service or international organizations.

Here’s a brief overview of a Bachelor's in Economics abroad.

Before exploring the top universities in detail, let's first understand how a Bachelor's in Economics abroad can benefit you.

Why Pursue Bachelors in Economics Abroad?

Globally renowned universities, such as Harvard University and the University of Oxford, consistently feature in the top 10 of QS rankings for Economics. A Bachelor's degree from these institutions not only makes you highly employable but also opens doors to a future in research and advanced degrees like PhD.

Here’s why pursuing a Bachelors in Economics abroad is beneficial.

• Global Perspective: Studying Economics abroad allows you to explore various economic systems, policies, and market dynamics. This exposure helps you understand how economies operate differently across regions.
• Top-Ranking Institutions: Universities like Harvard, Oxford, and MIT offer specialized Economics programs, consistently ranked among the top worldwide.
• Networking Opportunities: By studying abroad, you’ll meet people from diverse cultural and professional backgrounds. This global network can provide valuable mentorship, career advice, and connections throughout your career.
• Research Opportunities: Many universities abroad offer access to the latest research facilities and projects. Participating in these can help you develop advanced analytical skills, preparing you for roles in academia or policy research.
• Exposure to Different Teaching Styles: Universities abroad often use a mix of case studies, data analysis, and theoretical frameworks. This equips you with practical skills and problem-solving abilities that are highly valued by employers.
• Career Flexibility: A Bachelor's in Economics from a prestigious international institution opens career paths like policy-making, finance, and consulting.

Once you’ve understood the benefits of pursuing a Bachelor's in Economics abroad, let’s take a look at the top universities offering this program.

Top Universities for Studying Bachelors in Economics Abroad

Knowing the top universities helps you choose a course that aligns with your goals and fits your budget. An economics degree from a university, like the University of Toronto, will expose you to global economic trends and policy-making. 

This foundation can benefit your future studies and career opportunities in organizations like the World Bank.

Here are the top universities for this program.

Apart from top universities, you can also explore well-known universities that align with your career plans.

Popular Universities for Bachelors in Economics Abroad

Popular universities, such as the University of Bonn, can be great alternatives if you’re unable to study at top-tier institutions. They offer high-quality education and are more cost-effective (30% - 50% cheaper) compared to top universities like Harvard University.

Below are some popular universities to study a Bachelors in Economics abroad.

Next, let’s explore the eligibility criteria required for a Bachelor's in Economics abroad.

Eligibility Criteria for Bachelors in Economics Abroad

Understanding the eligibility requirements is essential for a successful application. Typically, you’ll need a high school diploma with a GPA of around 3.0. Some top universities, like the University of Oxford, may also require SAT or ACT scores. 

For international applicants, proof of English language proficiency through IELTS or TOEFL is necessary. Once you’ve received your confirmation, you can apply for a student visa.

Here are the eligibility requirements for a Bachelor's in Economics abroad.

Now that you’ve explored the eligibility requirements, let’s take a look at the application process for studying a Bachelors in Economics abroad.

Application Process for Bachelors in Economics Abroad

The application process is an important step in planning your studies abroad. It begins with submitting your application through the university portal, along with documents like academic transcripts and test scores such as the ACT. 

If you're an international applicant, you’ll need to provide proof of English language proficiency levels through tests like TOEFL. After receiving your admission confirmation, you can apply for a student visa before traveling.

Here are the application steps you’ll need to follow.

• Step 1: Send Your Application: Complete your application for the bachelor’s degree, including personal information, academic background, and any required essays or forms.
• Step 2: Provide Required Documents: Submit the following documents as needed:
  • Academic transcripts
  • Proof of English language proficiency (e.g., IELTS, TOEFL)
  • Letters of recommendation
  • Statement of Purpose (if required)
  • Resume/CV (if required)
  • Standardized tests like SAT
• Step 3: Attend an Interview: Some universities may request an interview. Be ready to talk about your academic background and reasons for the program.
• Step 4: Track Your Application: Check your application status on the university portal and promptly respond to any additional document requests.
• Step 5: Apply for Your Student Visa: Once selected, apply for a visa by providing the following:
  • The acceptance letter from the university
  • Visa application form (specific to the country)
  • Proof of financial support
  • Visa application fee (varies by country)
  • Passport-size photographs
  • Visa application fee payment confirmation

Now, let’s explore the subjects and specializations you will study during a Bachelors in Economics abroad.

Curriculum Details for Bachelors in Economics Abroad

In a Bachelor's in Economics program, you’ll cover core subjects like microeconomics and macroeconomics, with specializations in areas such as development economics. These provide a strong foundation for careers in government, finance, or international organizations. 

Internships and co-op programs offer hands-on experience, helping students connect academic knowledge with real-world economics.

Here’s the curriculum for a Bachelor’s in Economics abroad.

Now, let’s explore the costs associated with studying for a Bachelor's degree in Economics abroad.

Cost of Pursuing Bachelors in Economics Abroad

Tuition fees typically account for 50% to 70% of the total cost of studying abroad, depending on the country and university. For instance, the total cost for an international student pursuing a four-year degree can be around $45,708 (INR 39.1L), though this may vary slightly for a three-year program.

Here is the tuition fee that makes up the cost of studying abroad for Indian students.

Note: The INR conversion is based on the current exchange rate.

Along with tuition fees, you need to account for living costs like accommodation and food. Let’s explore these costs.

Cost of Living Abroad

The cost of living depends on your lifestyle choices and place of residence, and includes expenses for accommodation, food, and clothing. For instance, the cost of living in Canada can amount to CAD 15,000 (INR 9.3L), whereas in Ireland, it is approximately £15,000 (INR 14.9L).

Here’s the detailed breakdown of cost of living abroad.

Note: The INR conversion is based on the current exchange rate.

Students can apply for financial aid, such as scholarships, to reduce the cost of studying abroad. Let’s take a closer look at these options.

Bachelors in Economics Abroad: Scholarships for Students

If you’re planning to study abroad, you’ll need around INR 15L to INR 45L per year, depending on the country and university. While options like study loans are available, scholarships are the best way to reduce costs by 30% to 100%. 

For example, Chevening Scholarships sponsor around 1,500 students each year to study in the UK for free.

Below are some scholarship options for studying abroad.

Internal Scholarships

Internal scholarships are awarded by the university, typically in the form of tuition fee reductions or financial grants. For example, the Reach Oxford Scholarship at the University of Oxford covers tuition fees and living costs for undergraduate students.

Here are some internal study abroad scholarships for Indian students.

Apart from university-specific internal scholarships, you can also apply for external ones. Let’s explore them in detail.

External Scholarships

Beyond university scholarships, you can explore external ones, typically offered by the government. Indian applicants can apply for the Australia Awards Scholarship, which covers the cost of studying a bachelor's degree in an Australian university.

Here are some external scholarship options.

Next, let’s discuss the job opportunities available for students after completing bachelors in economics abroad.

Job Opportunities After Bachelors in Economics Abroad

The average salary for an Economics degree holder in the USA is $115,440 (INR 98.9L), which is 73.1% higher than the average wage of $66,621 (INR 57L). A Bachelor's in Economics equips students with skills like financial forecasting, making them well-suited for roles such as a data analyst.
Here are some job opportunities for a Bachelor's in Economics abroad.

Source: Indeed, Glassdoor

Note: The INR conversion is based on the current exchange rate. 

Now, let’s look at some top companies hiring bachelors in economics graduates abroad.

Top Recruiters Hiring Graduates After Bachelors In Economics Abroad

A Bachelor's degree in Economics prepares you for diverse careers, from policy-making to investment banking. Companies like Deloitte are eagerly looking for roles such as financial analyst, requiring skills like risk analysis and economic forecasting.

Here are some top organizations hiring graduates with a Bachelors in Economics abroad.

Source: Glassdoor, Indeed

Finally, let’s understand how upGrad can support you in your plans to study bachelors in economics abroad.

How Can upGrad Help You Bachelors in Economics Abroad?

Studying in the US can be challenging due to the complexity of the process. upGrad simplifies the entire journey by offering expert support, ensuring your journey is smooth.

upGrad offers personalized guidance, helping you make confident decisions. You can get assistance with visa paperwork, scholarships, and targeted IELTS/TOEFL preparation. Additionally, career counseling and resume reviews ensure continuous success.