Education quality and teaching style differ from place to place. Students from across the world move to places in pursuit of higher education because they know that the particular country is known for its quality education. Even though students have to face many challenges when they have to leave their homeland, these challenges might vary from the language barrier to difficulty in comprehending the education style, but still, they give their best for their future.
They overcome these challenges either by taking Microeconomics Assignment Help, psychology dissertation services, etc. They hire professionals so that they can write their projects on their behalf till the time they get familiar with the educational criterion of the country. This post highlights the benefits of studying economics in the UK.
Economics is the branch of social sciences. It is meant to improve the living standards of society and is all about the relationship between individuals and their society. This field of study is concerned with the production, distribution, and consumption of goods plus services. In other words, economics can be defined as the choices that individuals, businesses, and governments make to meet the incentives that influence those choices
The term economics has been derived from the Greek word “Oikonomia” which means the management of the family or the household. It is basically the study of wealth and the utilization of that wealth for the prosperity of society (bestassignmentwriters, 2022). Economics is an extensive subject as it involves the following factors;
- Evolution of structure, condition, and performance of an economy.
- Scarce resource allocation.
- Consumer behavior analysis.
- Economic forecasting.
- Opportunity cost estimation.
- Assessment of economic and social efficiency of the businesses.
- Examination of reasons for poverty, unemployment, and slower economic growth.
All this and many other related topics might become slightly overwhelming for students sometimes which is why they prefer to take Help With Assignment or other writing projects to ease their academic burden.
Branches of economics:
There are two main branches of economics; which are known as macroeconomics and microeconomics.
Microeconomics is the branch of economics that focuses on the single unit factors and their decisions on the economy as individuals. These single-unit factors might vary from households to businesses to individuals. It involves the factors that influence individual economic choices, the decision of individual firms, individual consumers, the determination of demand and price in the individual market, and labor economics. This field of study covers;
- Consumption theory.
- Production theory.
- Market theory.
Macroeconomics is the branch of economics that deals with large-scale or general economic factors. It focuses on the performance, structure, behavior, and decision-making of an economy as a whole. Macroeconomics stresses the magnitudes at a global level like inflation, employment, economic growth, etc. It includes the ways market power is defined and measured; the use of accounting data to estimate markups; the quantitative implications of theoretical connections among markups, prices, costs, scale elasticity, and profits (Syverson, 2019). This is the field that covers the following aspects of society:
- Theory of money.
- International trade theory.
- Distribution theory.
- Economic development theory.
Benefits for students studying economics in the UK:
Students from across the world try to get into the universities of the UK to attain a degree in economics because of the following reasons;
1. Easy admission:
The process of taking admission to UK-based universities is far easier than in other countries. The UK-based universities have separate seats or vacancies for international students. In addition to that; they provide special scholarship programs to make their budget lighter on the pocket. Besides; the process of visa application in the UK is comparatively simpler than in other countries.
2. Higher education quality:
The quality of education in the UK is at par excellence. It is considered the second-highest country with the best quality of education. The reason for this is that their education community provides their entire support to uphold the curriculum and instructional process.
3. Prestigious universities:
Some of the most renowned universities in the world are based in the UK. These universities provide their education in a range of courses, especially economics. Following are some of the best UK-based universities offering the best economic coursework study;
- London School of Economics & Political Science.
- The University of Cambridge.
- The University of Oxford.
- The University of Warwick.
- The University of Manchester.
4. Degree recognition across the world:
The degrees provided by the universities of the UK are highly acknowledged across the world. this degree is accepted in every country because of its great reputation.
5. Best teachers:
Some of the best teachers of economics are teaching at the universities of the UK. They not only teach the existing theories but helps in shaping new ones too. The increasingly global and integrated nature of economics plus the international perspectives of this field of study are taught to the students.
6. Career opportunities:
The students who have attained an economic degree from the universities of the UK get more career opportunities in the UK as well as across the world. The following are some of the most common jobs that students with UK-based economics degrees can get;
- Financial risk analyst.
- Financial planner.
- Data analyst.
- Economic researcher.
- Financial consultant.
- Investment analyst.
Students with economics degree obtained from UK-based universities gets jobs with high incomes. The salary might start at 30,000 British pounds and after some years of work, it might reach a whopping 70,000 to 100,000 British pounds.
Economics is an extensive subject that covers all factors of production, consumption, and distribution of services plus goods. Economics plays an integral role in keeping society economically balanced which is why there is high demand for economics degree holders especially if the degree is obtained from UK-based universities. Hopefully; the above-mentioned post will help the readers in understanding the importance of studying economics in the UK.
best assignment writers. (2022, July 23rd). Accounting VS Economics: Which Study Can Elevate Your Business? https://bestassignmentwriter.co.uk/blog/accounting-vs-economics-which-study-can-elevate-your-business/ .
Syverson, C. (2019). Macroeconomics and Market Power: Context, Implications, and Open Questions. Journal of Economic Perspectives, 33 (3), 23-43.