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As the name suggests, International Economics studies the different types of economic activities across countries as well as the impact of global issues on global trade and economy. With the faster integration of global trade and economic activities, it has become important to study international economics and understand the patterns of trade, and how they are impacted by globalization, along with concepts like FDI, gains from trade, the balance of payments and relationships between different countries. It is one of the popular branches of economics that many students opt for, not only in order to gain insight into the issues of trade and finance at the global level, but also to become eligible for a number of lucrative job options. Read this blog to learn all about International Economics, its importance, career scope as well as top courses and universities you must consider to study this specialization.
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What is International Economics?
International Economics is a subfield within economics which concerns itself with the economic activities of different countries around the world and its global effects. It deals with the study of different economic and political issues related to international finance and trade practices. International economists study and analyse data to provide solutions or gain insight into different economic issues around the world. Further, the subject matter of International Economics is centrally international trade policies, laws and theory as well as foreign exchange markets and open economy.
International Economics Courses
There are numerous Universities around the world that offer courses in this specialised branch of economics at the undergraduate, postgraduate and doctoral levels. Here are the top courses in international economics:
Undergraduate Courses in International Economics
| Bachelor of Arts in International Economics | BA in Global Economics and Management | BA in International Business Eco. |
| Bachelor in International Eco. Relations | Bachelor in International Eco. | Bachelor in World Economy |
| Bachelor in International Economy and Trade | Bachelor of Economics in International Trade (BIT) | BSc/BScEcon (Hons) International Eco. & Finance |
| Bachelor of Science in International Eco. and Management | Bachelor’s in International Eco. and Commercial Diplomacy | Bachelor in International Economic Development (IED) |
Postgraduate Courses in International Economics
| MA in Global Development and International Political Economy | Master of Arts in Global Finance, Trade and Economic Integration | Master’s in International Business Eco. and Management |
| MSc in Global Economy | MA in Global Political Economy and Finance | MSc in International Business Economics |
| Master of Arts in International Business and Eco. | Master of Arts in International Eco. Policy | MSc in Eco. of International Finance and Trade |
| M.A. Economics (Specialization in International Business) | MSc in International Eco., Banking and Finance | Master in International Eco. and Political Studies |
| MSc in International Eco. | MSc in Economics and International Relations | MA in Development and International Eco. |
PhD Courses in International Economics
| PhD in International Economics | PhD in World Eco. |
| PhD in International Eco. and Finance | PhD in Global Eco. and Management |
Eligibility Criteria
Before opting for a course, it is necessary to familiarise yourself with all the essential requirements that you need to fulfil in order to pursue a course in this subject.
Although the eligibility criteria may vary from one university to another, the basic eligibility requirements include the following:
- You should have completed your 12th board exams in any stream, preferably with mathematics or economics as a subject of study
- For master’s level courses, you need to have a bachelor’s degree with the required percentage of marks in the same or a related field
- For PhD courses, you need to have a master’s degree in a relevant field with the required percentage of marks
If you want to pursue your degree in this specialisation from a university abroad, you would need to fulfil some additional criteria of eligibility which includes the following:
- You should have a valid score in any of the accepted English language proficiency tests such as the TOEFL, IELTS or PTE
- For master’s and PhD courses, you would also need to submit your GRE score
- A Statement of Purpose (SOP) and Letters of Recommendation (LOR) are also required to be submitted along with your application
Top Universities to Study International Economics
Want to pursue a course in international economics from a university abroad? Here is a list of popular universities around the world which offer courses in the subject:
| Universities/Colleges | Location | Program Name |
| Franklin University | Switzerland | Bachelor of Arts in International Economics |
| University of Latvia | Latvia | Bachelor’s in International Economics and Commercial Diplomacy |
| Xi’an International University | China | Bachelor in International Economics and Trade |
| University of Pavia | Italy | Master degree in Economics, Finance and International Integration |
| University of Passau | Germany | M.Sc. International Economics and Business |
| Erasmus University Rotterdam | Netherlands | MSc in Economics and Business – Specialisation in International Economics |
| University of Lincoln | UK | MSc International Business Economics |
| USI Università della Svizzera Italiana | Switzerland | MSc in Economics and International Policies |
| University of Sussex | UK | MSc International Business Economics |
| University of Groningen | Netherlands | MSc in Economic Development and Globalization |
Other Universities to Study Global Economics
- Bocconi University
- University of Birmingham
- Cardiff University
- Coventry University
- De Montfort University
- University of East Anglia
- University of Glasgow
- Kingston University
- University of Leeds
- University of Nottingham
Top Colleges in India
Here is a list of some of the best and most well-known colleges in India that are providing this course:
- Shri Ram College Of Commerce, New Delhi
- Lady Shri Ram College For Women, New Delhi
- Jamia Millia Islamia University, New Delhi
- Madras School Of Economics, Chennai
- University Of Calicut, School Of Distance Education, Calicut
- The University Of Mumbai, Institute Of Distance & Open Learning, Mumbai
- Christ University, Business Studies And Social Science, Bangalore
- Jain University, Kochi
- ST. Xavier’s University, Kolkata
- K J Somaiya College Of Arts & Commerce, Mumbai
Career Options and Job Prospects
There are a range of different career opportunities that you could opt for after completing the degree. Popular sectors where you can find employment include the financial sector, global organisations, government sector, academics etc.
Job Prospects
Some of the job opportunities you can get include the following:
- International Economist
- Assistant Professor
- Financial Analyst
- Professor
- Researcher
- Policy Analyst
- International Relations and Affairs Officer
- International Relations and Affairs Minister
- National Security Policy Officer
- Development Economics and International Development Incharge
- Political Scientists
- Market Research Analysts
Top Recruiting Companies
- IMF
- World Bank
- McKinsey and Company
- The Hackett Group
- Aditya Birla Financial Service
- Boston Consulting Group
- Bain
- Deloitte
How to Become an International Economist? [BONUS]
Here is a quick roadmap for aspirants to pursue a career as an International Economist:
Step 1: Choose a Stream in Class 12th
To be eligible for admission to an undergraduate study in Economics, you may pursue any stream in class 12th. However, certain institutions or schools need Mathematics as a compulsory subject, and applicants who have studied Economics at the +2 level are given preference during college admissions.
Step 2: Pursue an Undergraduate Course in Economics
The next step is to pursue a course or a degree in Economics at the UG level, such as BA/ BSc and BA/ BSc (Hons) courses in Economics. The course is generally of three years duration and is available in various institutions and Universities in India and abroad.
Step 3: Study Economics at the PG Level with Specialisation in International Economics
Post completion of their undergraduate or bachelor’s degree, students can now pursue their master’s in Economics with a specialisation in International Economics, Global Economics, International Business, etc. If not opting for a specialization course/programme/degree, the students can also opt for conventional courses like MSc/MA in Economics and can choose subjects like International Economics, Global Economics or International Business as electives.
Step 4: Go for a PhD
Doctoral degrees, such as a PhD in International Economics, are recommended for higher career opportunities in this sector.
Skills Required
In order to pursue a career in International Economics, students must have the following skillset to excel in their chosen field:
- Interpersonal and Communication Skills: International economists must successfully connect with a variety of individuals in order to acquire data and information for analyzing global economic trends. They may be required to engage in interactive sessions or to provide lectures to a variety of audiences.
- Technological Skills: International Economists need to critically evaluate the global economic scenario and interpret relevant data and facts.
- Math Skills: Skill in handling numeric data is necessary for understanding economic trends and providing clarity of argument and quantitative prediction
- Problem-Solving and Analytical Skills: These are essential skills required in this field as these economists have to analyse international conditions and prepare reports and assumptions to provide solutions to complex economic issues.
- Writing Skills: Economists must be able to clearly convey their results. Many economists produce reports for colleagues or clients, while others write for journals or the news media.
FAQs
International economics is a branch of economics that studies the economic interactions between countries, including trade, finance, investment, and migration. It analyzes how nations interact through the exchange of goods, services, and capital, and explores the factors influencing these interactions, such as government policies, exchange rates, and global economic institutions.
International economics plays a crucial role in understanding and shaping the global economy. It helps explain the benefits and challenges of international trade, the effects of globalization on different economies, and the impact of economic policies on domestic and foreign markets. It provides insights into how countries can achieve economic growth, allocate resources efficiently, and address issues like income inequality and poverty on a global scale.
Several key concepts are central to the study of international economics. These include comparative advantage, which examines how countries specialize in producing goods and services based on their relative efficiencies; balance of payments, which tracks a country’s transactions with the rest of the world, including imports, exports, and capital flows; exchange rates, which determine the value of one currency relative to another; and trade policies, such as tariffs and quotas, which governments implement to regulate international trade and protect domestic industries.
Hope you found this blog on international economics courses and careers interesting and informative. Want to pursue a specialized degree in Economics? Reach out to our experts at Leverage Edu for the best guidance in choosing the perfect course and university for you. Sign up for a free session today!
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