Top 10 Countries to Study Economics (2025)

Last Updated on October 23, 2024

The top 10 countries to study Economics courses abroad are the United States of America (USA), the United Kingdom (UK), Canada, Australia, Singapore, Germany, Netherlands, China, Switzerland and Italy. These countries to study Economics degrees across various levels from top universities ranked by QS World Ranking 2024. The duration of these courses in these countries to study Economics lasts for around 1-4 years, depending on the nature or field of the program you choose. Economics is the study of supply and demand, human behavior, and resource allocation. It has a crucial influence on the progress of individuals in their societal lives. As economics students, you’ll dive deep into understanding how the world functions, from how things are priced to why living standards vary between countries to study Economics, which is a really useful skill that employers look for. Learning economics helps one make better decisions in everyday life, like understanding the effects of policies like universal healthcare or figuring out financial investments. In this blog, we will discuss the Top 10 Countries to Study Economics, the best universities in the World, their fees, courses, future career prospects, and expected salaries. Read on for our top picks for international students interested in studying Economics:

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List of Countries to Study Economics

The United States

Massachusetts Institute of Technology

Ranked 1st in the field of economics in 2024 by the QS rankings at a global level, MIT has a renowned undergraduate and postgraduate program for economics. Senior professors teach introductory courses in these countries to study Economics to incoming undergraduates. They are encouraged to develop their research skills through programs like the Undergraduate Research Opportunities Program, which connects them to a network of graduate students and faculty members. MIT’s student body is 34% international, and its graduates are often employed by international and national organizations, making it a highly desirable university for students across the globe.

Harvard University, United States

Ranked 2nd in the world for Economics, Harvard has produced a number of Economics Nobel Laureates. The department offers more than 15 seminars a week on a range of topics in Economics from top American and International scholars. The university hosted 9,851 international students in 2016-2017 and truly attracts talent from around the world, with its international students from 153 countries to study Economics.

In order to attract international students and academics, their international offices offer a wide range of services such as visa, employment, and tax help. Their host program, which matches up with international graduate students and Boston residents, has been helping students get to know their new home since 1962.

Harvard University offers a range of internships and research assistant positions to undergraduate economics students, as well as funding opportunities for research.

The United Kingdom

London School of Economics and Political Science (LSE)

Hosting one of the world’s largest and most popular countries to study Economics departments, the London School of Economics and Political Science (LSE)  is ranked first in the United Kingdom and 5th in the world for Economics.

Offering a truly international experience, LSE’s student body is 71% international, and the campus is located in the heart of the metropolitan city of this highly diverse capital, ensuring a uniquely international educational experience.

LSE supports its international students with a student visa advice team to help some of the world’s most talented international students sift through the paperwork and begin their studies soon. The Economics department’s research is often focused on global issues such as economic development and climate change, making it an ideal fit for economists looking for an international perspective.

University of Oxford

Ranked 7th in the world for its economics program, Oxford welcomed its first international student in 1190, and today, it has an international student population of 38%.

Looking to promote an even playing field for emerging talent, the international student application route is precisely the same as it is for UK students. International students also receive immigration services support and help in arranging interviews, course admission tests, and English proficiency evaluations.

The university’s Economics Department members serve as advisers and officials to numerous international and national committees and organizations. In the most recent UK Research Assessment, REF 2024, Oxford was ranked top in terms of overall research strength, with more research output graded as world-leading in terms of its significance, rigor, and originality than any other economics department in the United Kingdom.

Australia

University of Melbourne, Australia

Ranked the best in Australia and 25th in the world for Economics, the University of Melbourne has attracted a whopping 40% international student body population. The University of Melbourne has been teaching Economics since 1855. The university has a number of specialized research centers, including an experimental economics laboratory that tests theories in a controlled laboratory environment.

International students are helped with free airport pick-up service, and you can access financial, housing, and well-being support during your move into Melbourne. This makes Australia one of the best countries to study Economics.

Canada

University of Toronto, Canada

Canada is among the best countries to study economics. Ranked among the 21st in the world and the best in Canada for their Economics department, the University of Toronto offers Economics international students an internationally recognized degree. Recruiters from 21 countries to study economics rank University of Toronto graduates as one of the top three public universities for work-ready alums.

Faculty members research and teach a wide range of Economics fields that span theory, applied data analysis, and econometric methodology. Economics students studying at U of T are encouraged to collaborate and undertake co-disciplinary studies with the Law and Management faculties.

Their student body originates from 168 nations with other countries to study economics and regions and to show their commitment to international students. They award the Lester B. Pearson International scholarships to exceptional scholars worldwide. 

Singapore

Next on the list of the top 10 countries to study economics is the world’s fifth most innovative city, Singapore. Ranked as the third most competitive economy by the World Economic Forum, Singapore stands out as a regional hub in Southeast Asia, attracting ambitious business school students worldwide. As a significant financial center in the Asia Pacific region, Singapore is renowned for its advanced economy and high academic standards offered by local universities. For Indian students, Singapore ranks among the top locations for studying economics, with 50% of the Top 50 Universities located in the country. The vibrant university life and high placement rates make Singapore an appealing choice, with economics being one of its renowned courses. Singapore’s eighth position in the INSEAD Global Innovation Index further highlights its status as a central hub for banking, finance, and world trade. Its strategic location, business-friendly policies, and international outlook make it an attractive destination for students seeking quality education and career prospects in economics. The average fee for studying economics in Singapore is affordable, and economists in the country earn a gross salary averaging SGD122,583.

Checkout the table below for the best colleges and courses offered by them:

Germany

Germany, often known as Deutschland, stands out for its strong economy and inexpensive education, making it an excellent choice as one of the top 10 countries to study economics in Europe without costing much. The combination of low to no tuition fees, a wide range of specialization options, and a growing economy make it a perfect destination for pursuing a postgraduate degree in economics. Moreover, Germany is home to a robust job market for economists, particularly in research, a low unemployment rate, and a promising future for academics and research. The country’s economy is projected to see significant growth, offering promising prospects for academic and research endeavors. Students who graduated in Economics from universities in Germany can expect lucrative job opportunities, with potential earnings of up to 90,000 EUR per annum. One notable advantage of studying in Germany is the availability of English-taught economics programs, eliminating language barriers for international students.

Here are the universities and programs offered for Economics:

The Netherlands

Erasmus School of Economics

Ranked 44th in the World and 12th in Europe for Economics and Econometrics by QS, Erasmus School of Economics international students make up 30% of their student body.

Erasmus School of Economics has two scholarships explicitly dedicated to non-EEA students, making it clear that they’re interested in recruiting global academic talent. The school’s incoming students tackle two issues that are the most challenging for international students, which are visa processes and finding accommodation.

Suppose you live across the world and are only able to visit some of the campuses that you would like to before applying. In that case, Erasmus University, which Erasmus School of Economics is a part of, has launched a virtual experience that invites students to tour the campus, classrooms, and student housing online. This university of the Netherlands makes it among the top countries to study economics abroad.

Switzerland

ETH Zurich

ETH Zurich is ranked 35th in the world and 1st in Switzerland in Economics. Its Master’s program in Management, Technology, and Economics, with its cross-sector collaboration and entrepreneurial thinking, makes it unique. Students have the opportunity to partner their economics studies with an industrial placement of at least 10 weeks. ETH Zurich has an international student population of 38%. This makes Switzerland one of the best countries to study Economics.

With a well-developed research arm, the department conducts basic and applied research in management, economics, innovation, system dynamics, and risk. A great deal of their research works to improve the understanding of technology in organizations, societies, and economies. ETH Zurich is interested in innovative teaching methods in addition to research and continuously seeks feedback on course content and lecturer performance to develop their programs on the basis of student feedback.

China

Hong Kong University of Science and Technology

If you’re looking to study abroad in a young, modern university, Hong Kong University of Science and Technology offers international students a lively student lifestyle and an excellent gateway to China. Their Economics department was ranked 24th in the world and 2nd in Asia. More than 60 nationalities are represented in their student body, and 80% of their faculty derive from top overseas universities and countries to study Economics.

Their Economics department is focused on economic growth and development, the Chinese economy, industrial organization, econometrics, and international economics, and sponsors regular workshops with top global scholars.

As an elite research-based university, students still benefit through experiential learning, with 70% of their graduates participating in internships.

Italy

Bocconi University, Italy

Ranked 16th in the world and 1st in Italy for Economics, their department avidly recruits top international faculty from around the world. In addition to instruction and research, some members of the Economics Department have been chosen as consultants for global organizations such as the IMF, UN, and World Bank in this countries to study Economics.

Although Bocconi’s percentage of international students stands at 11%, they are actively involved in helping international students achieve an excellent experience in studying abroad. They offer a series of services and activities to help new students upon arrival and throughout their studies. This includes a crash course and follow-up course in Italian to help new international students have a fulfilling experience in Milan. Help secure housing, academic counseling services, and a host of orientation activities to help international students acclimate to the campus. Additionally, their Bocconi Scholarship for International Students is awarded to select need-based students from around the world pursuing a Master of Science degree.

Selection Criteria for Countries to Study Economics Abroad

Universities included in our ‘Top 10 Universities to Study Economics” list were chosen for a variety of qualitative factors that will help international students find their ideal university abroad.

Factors include the percentage of international students enrolled in the university and services provided to them before, during, and after their studies, including internship availability and extra-curriculars. We also took into account the global and national rankings of the university, the popularity of the study abroad destination, and the openness of the host country to international students, including ease of application for student visas.

We’ve also tried our best to include universities of varying sizes located in various countries to study Economics to help expose prospective international students to a wider variety of study options they have available around the world.

Rankings mentioned in the report refer to the QS Economics & Econometrics 2017 Ranking. The percentage of international students was referenced from Times Higher Education in December 2017.

Finally, we researched, whenever available, the percentage of employment of international students after graduation and the importance placed on programs to prepare students for an increasingly changing world.

Admission Requirements for Countries to Study Economics Abroad

To study economics abroad, you must meet the entry requirements set by each university and program. While these requirements vary, here are the fundamental criteria:

• Completion of secondary education with satisfactory grades, often including strong performance in mathematics and economics, although specific subject requirements may vary.
• A personal statement detailing your interest in economics.
• Demonstration of proficiency in the English language through standardized test scores.
• Submission of academic references or a letter of recommendation.
• For master’s programs, a bachelor’s degree in economics or a related field is typically required.

Future Career Opportunities

Earning an economics degree in among the best countries to study Economics offers a wide range of career paths, especially for those who have studied abroad. Standard career options for economics graduates include:

• Economist
• Market research analyst
• Financial analyst
• Risk analyst
• Accountant
• Data analyst
• Account manager
• Management consultant

It’s essential to review each program’s content and curriculum to ensure they align with your career goals. Selecting a program that supports your desired job outcomes is crucial for success after graduation.

Conclusion

These countries to study Economics degrees across various levels from top universities ranked by QS World Ranking 2024. The duration of the course lasts 1-4 years, depending on the nature of the program you choose. It has a significant influence on the progress of individual and societal lives. As economics students, you’ll dive deep into understanding how the world functions, from how things are priced to why living standards vary between countries, which is a really useful skill that employers look for. We discussed the top 10 countries to study economics with the best economics colleges in the world, their courses, fees, future career prospects, and expected salaries. Let’s check the most frequently asked questions about studying economics abroad.

FAQs

Which among the countries to study Economics is best for Indian students to study economics in?

The USA is renowned for its top-ranked economics programs, followed by the UK, which also houses prestigious economics schools. Australia, Singapore, and Germany are also prominently ranked among countries to study economics programs.

What are the types of Economics degrees offered in the Countries to Study Economics Abroad?

Countries to Study Economics Abroad offers various degree options, including Finance, Applied Economics, Business economics, Social-economic policy, Commerce, and Agricultural economics. Additionally, you can pursue joint degrees, such as economics with politics, history, or psychology. Opting for a specialized economics degree or joint program allows you to focus on your specific interests.

Are economists highly paid after graduation from the top Countries to Study Economics Abroad?

Utilizing their expertise in economics, economists analyze policies, make economic forecasts, and assess the future trajectory of the economy. Usually, after earning a recognized degree from the top countries to study economics abroad, economists can earn between Rs 6-12 lakhs per year at the entry-level.

Which of the top Countries to Study Economics Abroad is the cheapest to study in?

Germany is recognized as an affordable option for international students pursuing economics studies. Public universities in the country offer either free or low-cost undergraduate and postgraduate programs to both domestic and international students. While tuition fees are minimal, budgeting for additional expenses such as accommodation, transportation, and healthcare is essential.

Which among the Countries to Study Economics Abroad pays the highest for its graduates?

Belgium, Canada, and Australia are the countries that pay the highest salaries for economists among the Countries to Study Economics Abroad.

Linette Shoji

Linette Shoji is a seasoned content writer specializing in guiding students through the complexities of applying to universities abroad. Her well-researched, clear, and practical articles break down intricate information into easy-to-understand advice. Linette’s work empowers students to make informed decisions, ensuring a smooth and successful journey to higher education.