Studying applied economics abroad

What is applied economics?

Applied economics is the study of how economic theories and principles can be used to solve real-world problems. It focuses on practical issues such as market behaviour, public policy, financial systems, and business decisions. Students examine how resources are produced, distributed, and consumed, and how economic choices affect individuals, organisations, and societies.

The subject combines knowledge from economics, mathematics, statistics, and social sciences. As an applied economics student, you will analyse data, evaluate economic trends, and study policies that influence markets and social welfare. Learning may take place in classrooms, computer labs, and through fieldwork in businesses, government offices, or international organisations.

Why study applied economics abroad?

Studying applied economics in another country allows you to see different economic systems and policies in action. You could explore financial hubs, visit industrial regions, or study development programmes in emerging economies. These experiences help you understand economic challenges beyond theory.

By studying internationally, you gain insight into how culture, politics, and regulation affect economic decisions worldwide. You will also develop skills in cross-cultural collaboration and build networks with economists, policy-makers, and industry professionals.

What you will study

Applied economics degrees typically mix theoretical study with practical applications. Key areas of study can include:

• Microeconomics and Macroeconomics – analysing the behaviour of individuals, businesses, and whole economies.
• Financial Economics – studying banking, investment, and financial markets.
• Public Policy and Development – evaluating economic policies and their impact on society.
• Econometrics and Data Analysis – using statistical tools to study economic data.
• International Economics – exploring trade, global markets, and development economics.
• Behavioural Economics – understanding how psychology influences economic choices.

Many programmes also include internships, research projects, and placements with companies, non-profits, or governmental agencies.

Related subjects you might also like

• Finance
• Business Studies
• Political Economy
• Statistics
• International Relations

Accreditation

At undergraduate level, you may graduate with a Bachelor of Science (BSc) or Bachelor of Arts (BA) in Applied Economics or a related field such as Economics, Finance, or International Development.

At postgraduate level, options include a Master of Science (MSc) or Master of Research (MRes) in Applied Economics, Economic Policy, or Development Economics. Specialisations may focus on areas such as financial markets, health economics, or environmental economics. A PhD is usually needed for research or academic careers.

In some countries, professional accreditation is available for economists, financial analysts, or policy advisors through recognised industry bodies.

Careers

A degree in applied economics can lead to careers in research, business, finance, and public policy. Graduates may work as economic analysts, consultants, policy advisors, or market researchers.

Others find roles in government departments, international organisations, banks, or non-profits, helping to design strategies that improve economic efficiency and social welfare. Applied economists can also work in areas such as risk management, investment analysis, and economic development.

Research opportunities are available in universities, think tanks, and international institutions. Beyond these roles, graduates may become educators, advisors, or analysts in global organisations. The skills you develop are in demand worldwide, giving you the chance to make a tangible impact on economic decisions and policy.