International Economics

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International Economics

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, how they are impacted by globalization, along with concepts like FDI, gains from trade, the balance of payments and relationship between different countries. It is one of the popular branches of economics that many students opt for, not only in order to gain an 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. 

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 offer courses in this specialised branch of economics at the undergraduate, postgraduate and doctoral level. 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 in international economics, 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

  1. Bocconi University 
  2. University of Birmingham
  3. Cardiff University
  4. Coventry University
  5. De Montfort University
  6. University of East Anglia
  7. University of Glasgow
  8. Kingston University
  9. University of Leeds
  10. University of Nottingham

Top Colleges in India

Here is a list of some of the best and well-known colleges in India that are providing courses in the field of International Economics to the students:

  1. Shri Ram College Of Commerce, New Delhi
  2. Lady Shri Ram College For Women, New Delhi
  3. Jamia Millia Islamia University, New Delhi
  4. Madras School Of Economics, Chennai
  5. University Of Calicut, School Of Distance Education, Calicut
  6. University Of Mumbai, Institute Of Distance & Open Learning, Mumbai
  7. Christ University, Business Studies And Social Science, Bangalore
  8. Jain University, Kochi
  9. ST. Xavier’S University, Kolkata
  10. 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 a degree in international economics. 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 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 PG Level with Specialisation in International Economics

Post completion of your undergraduate or bachelor’s degree, students can now pursue their masters in Economics with specialisation in International Economics, Global Economics, International Business, etc. If not opting for a specialization course/programmes/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 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.

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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