Reasons to Study an Economics Degree

Economics is considered to be the social science that analyses the use of resources on both a micro and macro (individual and collective) basis -- and scrutinises the management of them resources (e.g. money, time, labour inputs) and what is exactly done with it -- it looks at the restrictions, characteristics etc. of this management and its ultimate objective and purpose (e.g. profit or satisfaction maximization). Actually defining what 'Economics' is, can be rather difficult due to its constant academic expansion into differing fields. It makes sense, that if you are going to be committing time and effort into studying an Economics degree -- then you will want to know the potential advantages and benefits that come with an Economics degree.

Wages for Economics Graduates -  by studying an economics degree you can expect (according to the Complete University Guide) a salary of just above £23,000 -- which is almost £4,000 more than the average university graduate (it is worth noting it differs in average accordig to which University you graduated from also e.g. an Economics Degree from Cambridge University in 2009 was over £38,000, where as just over £16,000 from Manchester Met University - according to 'The Times'). Although you may find differing data and averages from that of the Complete University Guide  -- on the whole you will find in conclusion that an economics degree will 'on the average' have a better starting salary than that of most other disciplines. And if you do find yourself unemployed -- at the very least, you will understand better than the next person as to why you are unemployed.

Aspect of Prestige - as most students will know (and employers) studying an Economics degree can certainly be difficult -- and with that comes a recognition that in order for you to do well in it you have to be of at least quite a high intelligence. So with all the oncoming 'degree snobs' you can stand proudly and know you are studying one of the more 'respected' subject degrees.

A Greater Understanding of Events in the World - one of the best aspects of studying an economics degree is that you gain a deeper understanding of what is actually going on in the world and why certain decisions and policies  are implemented -- for example you will be able to understand firstly why there has been an 'decrease in the unemployment rate' and furthermore what the potential knock on effects of a low unemployment rate are likely to be. 

Allows You to Prepare For the Future - perhaps relating slightly to the last advantage of studying an economics degree -- but by understanding the world and economic decisions (e.g. monetary and fiscal policies) around you and what the likely future following events are to follow, you have a good chance of preparing your own financial situation. Compared to someone who has little to no knowledge of economics -- you are in a better informed situation on making decisions concerning investment strategies, retirement plans etc. 

Applying to Study an Economics Degree at University

If you are looking for help in making an university application to study an Economics Degree at university -- then you may want to check out some great books that offer advice and tips such as 'The UCAS Guide to Getting into Economics: Information on Careers, Entry Routes and Applying to University' and specifically towards the UCAS personal statement be sure to have a look at really useful and insightful books to give you that advantage over fellow applicants such as 'Writing a UCAS Personal Statement in Seven Easy Steps'.

If you have any additional advantages and benefits of studying an economics degree or any general remarks then I encourage you to please leave a comment below.