Economics
Economics is the study of how individuals, organisations, and societies make decisions about the allocation of scarce resources, and how those decisions aggregate into markets, industries, and economies with their own dynamics and consequences. It is a discipline that develops both a specific body of knowledge about how economies work and a powerful analytical toolkit, combining theoretical models with quantitative methods and empirical evidence, that can be applied to an enormous range of questions in business, policy, and public life. The economist's habit of thinking carefully about incentives, trade-offs, and unintended consequences is one of the most transferable intellectual skills a degree can develop.
At the University of Northumbria at Newcastle, economics is studied over three years of full-time study, with the programme including a sandwich year with a work placement, a year abroad, and a work placement, giving you a comprehensive range of professional and international experiences alongside the academic content. The curriculum covers microeconomics and macroeconomics in depth, developing your understanding of how individual markets work and how aggregate economies behave, alongside quantitative methods, econometrics, and the empirical techniques used in economic research. Applied economics modules give you the chance to explore specific areas such as financial economics, labour economics, development economics, or industrial organisation, developing greater depth in areas relevant to your interests and career direction.
The placement year gives you professional experience in an economics or related role, which is an important differentiator at graduation.
Economics graduates have one of the broadest range of career destinations of any discipline. Finance, banking, and insurance are the most common sectors for economics graduates, who work in roles in financial analysis, risk, trading, and relationship management. Government and public policy, management consultancy, international organisations, and research institutes are further destinations where economic analysis and quantitative skills are directly applied.
Business analysis, data analysis, and roles in the technology sector draw on the quantitative and analytical competencies the degree develops. Many economics graduates pursue professional qualifications, including in finance or data science, alongside their career. Postgraduate study in economics, finance, or public policy is a common route for those who want to develop deeper technical or analytical expertise.