Economics is a part of social sciences, and it deals with the production and consumption of goods in a society. In simple terms, it deals with the economy – how it works, how it affects a country, and a lot more. This college major is a popular choice for students interested in business and the nation.

If you have the opportunity to study economics abroad, what country will you choose? Studying economics abroad will open a lot of doors for you as you dig into this college major. Also, one good reason why take economics abroad is that it’s a high-paying career, and they’re in demand.

Since we want to maximize our education abroad, we should choose the right university and country. In this article, let’s talk about the best countries to study economics. We will consider their background, quality, and reputation.

Which universities can you study economics abroad at?

On an international scale, the most high-ranking educational institutions for an economics program are Harvard University, Massachusetts Institute of Technology (MIT), and London School of Economics and Political Science (LSE). These institutions are globally recognized for their teaching, training, and research performance.

Check Also: Available Programs for International Students

Which European Country is Best for Studying Economics?

Going to the European continent, the United Kingdom is the best country to study economics. This country is internationally acknowledged for its universities as they provide well-built economics programs and have a high consistent position in global rankings.

Aside from Europe, you can also explore other countries for studying economics. Now, let’s jump straight into the list of all the countries that are really well-known for programs in economics!

Best Countries to Study Economics Abroad

1. The United States

  • Reasons: top-performing universities, experienced mentors, and highly paid graduates

The world’s largest economy and continuously growing, the United States, is a perfect country if you’re studying economics in college. Since you will study supply and demands, taxation, and other money-related topics, it’s good to learn in a country that performs it well. For years, the education and economic sectors of the United States have been rising.

Additionally, if you study here, you’ll be mentored by the best instructors or professors in the field, and you can choose from the top-performing universities in the United States and globally. Lastly, Economics majors from the United States are highly paid compared to other countries.

The University of California, Berkeley‘s degree in economics is one of the most popular programs in the university as it produced hundreds of graduates in the field. Going to the Empire State, the New York City, Columbia University has a good global ranking for their programs, including economics.

2. The United Kingdom

  • Reasons: Excellent universities, more work opportunities, and reasonable tuition and living costs

Going to the European countries, the United Kingdom offers a lot of educational and work experiences to students wanting to study economics here. The United Kingdom is a great country to study in because you have the chance to visit London – a city with many business enterprises. For economics majors, being surrounded by these places would open a lot of work opportunities.

The United Kingdom is one of the best countries to study Economics because it is also the home of the best universities teaching economics. These universities are known for their quality teaching and research. For example, the London School of Economics is a public university focusing on economic sciences and related fields. The University of Warwick has an excellent international reputation that offers economics programs to local and foreign students.

3. Spain

  • Reasons: quality teaching and research, various economics degrees, and international academic reputation

Located in Southwestern Europe, Spain is known for its historical and cultural backgrounds. A lot of international students choose this country because of its location, culture, and environment. Aside from that, this country has a good foundation of teaching and research, creating a healthy learning environment.

Spanish universities also offer various degrees in economics. From the bachelor’s masters to Ph.D. degrees, they provide these different degrees to those who want to specialize in economics. For example, the University of Navarra offers a graduate program in economics, and Pompeu Fabra University is known for its various educational fields, including economics.

4. Germany

  • Reasons: Affordable tuition fees, English-taught programs, and excellent higher education

Germany is also known for having a highly developed economy. If you’re aiming to study in a European country without spending a lot of dollars on tuition fees, Germany is one of the excellent countries to study economics. This country is known for its inexpensive universities with quality education. Most German public universities have zero tuition fees, and international students are welcome thanks to their government. For international students taking economics, Germany is one of their best options, as it gives them the educational experience they need.

The good thing about German universities is that they offer English-taught programs in economics. So, the language won’t be a problem. The Heidelberg University is known for its excellent international reputation, and they provide research-oriented teaching. The University of Freiburg in Breisgau, Germany, also offers economics, and they have a long history of excellent teaching services to local and international students.

5. Malaysia

  • Reasons: Affordable tuition fee rates and cost of living, and internationally recognized educational institutions

Situated in Southeast Asia, Malaysia is famous for its cultural diversity, and a lot of tourists consider visiting this place. Another reason to visit Malaysia is that universities in this country are internationally recognized and are taught in the English language. Having degrees from Malaysian universities will give your resume an edge.

Malaysian universities such as the University of Malaya in Kuala Lumpur and the Universiti Tunku Abdul Rahman in Petaling Jaya offer different degrees in economics.

6. Switzerland

  • Reasons: World-class education, scholarship opportunities, and good research

Switzerland is known for having the best universities and quality higher education. These Swiss educational institutions continue to provide highly produced teaching and research for local and foreign students. Economics major who chooses to study in Switzerland gets to experience an internationally based educational system that promotes more practical learning in their field.

Additionally, the universities and the Swiss government offer a lot of scholarships to students, and they encourage their students to apply. The University of Zurich is a public university in the country that offers a wide range of programs that have economics. On the other hand, the University of St. Gallen has a good reputation for its business-related courses, and it is recognized in Europe.

7. China

  • Reasons: Business-centered environment, innovative education, and affordable tuition fees.

In terms of economy, China is one of the leading economies in Asia. Since it’s continuously growing, Chinese universities can give the best experiences to economics majors, as it provides quality education through their practical and innovative teaching. Also, you’ll have the chance to live in a country that places a high value on business and education. So, China is an excellent country to study economics, and you’ll surely gain a lot of experience.

The Zhejiang University is a public university in China that offers economics. Also, the Southwestern University of Finance and Economics is an educational institution that focuses primarily on business and economics.


I hope this article on the best countries to study economics was informative and insightful. To know more information on studying abroad, check out the Available Programs for International Students.

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