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Higher education

Talk to other parents whose children are preparing for university on our Higher Education forum.

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Original poster

Is it worth going to university to study Economics?

103 replies

NotCure172 · 21/11/2021 17:07

Not sure if this is the right but here I go!
A backstory of my life…
So I’ve been in a dead end job in retail since I have been 16 after getting very poor GCSE results, I didn’t get anything above a D. I dropped out of college as I was horrendously bullied by students and the teachers didn’t seem to care but I wasn’t really academically driven either. So I just drifted along working in a supermarket.

Eventually I got sick of working unsociable hours, long days, dealing with awful customers, and poor pay so I decided to go back into education. I’m now 24 and I did an Access Course and I got a distinction. I also have redone my GCSE Maths & English and got a Grade 6. My parents and partner were so happy for me! I couldn’t believe I did so well. I currently do unpaid work as a trainee treasurer remotely while working at a supermarket.

I have been in contact with a few universities and they have informed me I meet the entry requirements to study a BSc in Economics.

So my question is, is it worth it me going to university? Has anyone here studied Economics? I would love to be an Economist/Policy Advisor/just anything in finance. I have read so many forums about people studying Economics and it didn’t financially help them. I have looked at sandwich courses which have a year’s placement - is this a good option?

Thank you!

OP posts:

ToughTittyWhompus · 25/11/2021 08:23

I’m studying Microbiology - in my final year - I’m 35. They did make an exception for me (as in, I didn’t have to redo GCSE Maths, which they usually insist on, as it had been so long since I got my B grade, I got a Distinction in my Access Science course) and I’ve had a few issues with the Maths side however there’s plenty of support available and I’m on course for a First.

Hawkins001 · 25/11/2021 08:29

@NotCure172

Not sure if this is the right but here I go! A backstory of my life… So I’ve been in a dead end job in retail since I have been 16 after getting very poor GCSE results, I didn’t get anything above a D. I dropped out of college as I was horrendously bullied by students and the teachers didn’t seem to care but I wasn’t really academically driven either. So I just drifted along working in a supermarket.

I have been in contact with a few universities and they have informed me I meet the entry requirements to study a BSc in Economics.

Thank you!

It's always worth giving the degree an attempt, all the best op

TizerorFizz · 25/11/2021 11:07

@Hawkins001
Maths is usually a big element of Economics. So you are are really comparing like with like.
@cloudtree
Yes I agree. I would worry about the maths too.

TuftyMarmoset · 25/11/2021 11:56

Economics is a worthwhile degree but it is hard work! I’m currently doing a part time degree in economics - I already have a degree and masters in another unrelated subject and this is so much harder IMO. I currently work in the area you are interested in - you can PM me if you want.

saoirse31 · 25/11/2021 12:08

I'd think doing an economic degree without having a decent if not very good a level imaths already will make it extremely difficult. Not necessarily impossible but it may ruin the whole degree experience for you in term of the time you'll have to spend learning the maths. I'd talk to someone , not sure who, about career choices to be honest, work ing to your strengths will make things more doable.

EmmaStone · 26/11/2021 09:41

Another who is concerned about the maths element for a BSc in Economics. I started a straight Econ degree (back in the Ice Age) without Maths A Level (but A in GCSE), and I had to basically catch up on A Level standard Statistics in my first term. It was awful, and ultimately I tweaked my degree to do Econ and Econ History, which was a BA, so less Maths.

However, I think if there's something you're determined to achieve and do, then go for it! There are seemingly infinite opportunities, so keep doing your research into courses and universities and post-Uni pathways. It's a really exciting time of possibility, enjoy!

MarchingFrogs · 26/11/2021 16:25

There are online maths courses (for brushing up maths to support the degree courses not officially requiring A level, rather than to list as a 'pending' qualification), e.g. one aimed at year 12 students, run by Imperial College, on the edX website.

Claudia84 · 26/11/2021 16:31

I think unless you've got a defined career path then going to university just for the qualification won't necessarily set you up better than not. It's a lot of money these days when a lot of big employers run apprenticeships in the same field where you get the same level of qualification at the end of it with no debt. They're also arguably less competitive as there are fewer applicants to them.
OP - if you want the uni experience then go for it. If you're looking for a career change then take a look at the times top 100 grad employers and check whether they'll do apprenticeships.

TizerorFizz · 26/11/2021 17:43

@Claudia84
The degree apprenticeships in large companies that recruit economics grads are exceptionally difficult to get on to. They also attract very well qualified young people.,Better qualified then the op. Overall, degree apprenticeships have reduced in number. So going to some universities to study economics is easier. Far more places available. The difficulty comes with job seeking when the competition is fierce.

Claudia84 · 26/11/2021 17:49

[quote TizerorFizz]@Claudia84
The degree apprenticeships in large companies that recruit economics grads are exceptionally difficult to get on to. They also attract very well qualified young people.,Better qualified then the op. Overall, degree apprenticeships have reduced in number. So going to some universities to study economics is easier. Far more places available. The difficulty comes with job seeking when the competition is fierce.[/quote]
Not suggesting degree apprenticeship. There are 'school leave programmes' which are still apprenticeships - say starting with a level 4 rather than a 7.

Claudia84 · 26/11/2021 17:53

They aren't any more difficult to get into than the grad schemes and far less over subscribed. If you have the grades you have just as much chance getting in as you would have the grades as a grad three years later. Only in this case the OP has some good life experience under her belt which will help her with the application process.

TizerorFizz · 26/11/2021 18:27

Well the op wants a degree. I thought that’s what we were talking about. There are still way more degree opportunities than apprenticeships. Grad jobs are at a premium regardless of whether they are grad jobs or grad apprenticeships.

Claudia84 · 26/11/2021 18:43

The OP is asking whether it's worth her going to University.

TizerorFizz · 26/11/2021 21:41

But to do a degree. Not a lower level apprenticeship. Degree apprenticeships to include an economics degree won’t be easy to find or get .

Claudia84 · 26/11/2021 23:10

The OP asked whether it was worth it. My experience is that in order to get some jobs that would traditionally ask for a degree, for example, accounting/ some consulting firms mentioned further up thread) you absolutely do not need a degree. If the OP has an interest in doing economics to achieve those ends there are other options to explore other than going to uni.
Clearly there are some firms that want it, but there are plenty of very large and prestigious firms that are crying out for the qualifications and expertise that the OP has already gained, so I think it is only right to share that as well rather than recommend a £50k course.

cloudtree · 27/11/2021 08:00

Clearly there are some firms that want it, but there are plenty of very large and prestigious firms that are crying out for the qualifications and expertise that the OP has already gained, so I think it is only right to share that as well rather than recommend a £50k course.

I don’t think the OP should go to university (or at least not to do that subject with those grades). I dont think her grades are strong enough and even if she’d got a nine in gcse maths I’d still be saying she’ll really struggle without A Level maths or statistics or at the very least, Core Maths. I think university will be a massive waste of moment and she is still unlikely to get the type of specialist job she wants when pitted against students who’ve gained firsts from oxbridge. But which top accountancy firms are crying out for a six in gcse maths? Likewise, what expertise? She’s been working in a supermarket since leaving school six years ago.

I think the OP should do A level maths and see how she gets on.

cloudtree · 27/11/2021 08:00

Waste of *money

Veronica25 · 30/11/2021 21:55

Would you consider doing ACCA? or ACA?

TractorAndHeadphones · 10/12/2021 08:58

Most degrees enable you to get onto generic graduate schemes, very few are subject specific.
However a professional qualification like the ACA is also as valuable. In fact the full qualification is an NVQ Level 7 (equivalent to a Master’s Degree).

Fair enough if you want a degree but if you want a job there are better avenues. A good employee will be able to fund a degree apprenticeship anyway

TractorAndHeadphones · 10/12/2021 09:06

*employer

poetryandwine · 11/12/2021 22:05

Hi, OP.

I love your story and want to congratulate you on your accomplishments so far. Like PPs I have some thoughts for you. I'm writing as a former lecturer and admissions tutor in a heavily maths based School in a research-intensive university. I've just joined Mumsnet a few days ago.

I feel sure something will work out for you. But you apply through UCAS and get accepted or rejected and nothing else is binding. Please look out for yourself and don't take anyone's word until you've got everything sorted properly. I do think your Distinction will make you an attractive candidate to the right universities.

I've seen @TizerorFizz on other threads and think she is very sensible. The people who are suggesting alternate pathways because of the maths-heavy Economics material have a valid concern. You sound like you want to have some influence in this world, and that is fabulous. Can you do that through Management, or a Joint Honours degree, or Accountancy (which can be quite lucrative)? Or something we haven't thought of yet? Please be proud, and go for it, but maybe consider tailoring your pathway to your strengths.

Best of luck, and I am excited for you.

TizerorFizz · 11/12/2021 22:35

@TractorAndHeadphones
Sadly mist degrees do not get the holders into generic grad schemes (jobs). There is now good evidence to show that only around 50% achieve this. Economics at a strong university might well be ok for employment but doing a business related degree could be better. To get into a grad apprenticeship scheme you have to get the job in the first place. Many applicants cannot do this. If the OP cannot move around the country it’s even more challenging.

drwitch · 11/12/2021 22:45

Economics lecturer here. Yes economics is maths heavy but it's not hard maths and the places that don't demand a level maths will have specific path ways in the first year to make sure you are caught up. Even the mid tier places like where I teach are very good for employment and earnings prospects (better than management or business). Its also really really interesting. I'd go to a few open days and find out more

poetryandwine · 11/12/2021 22:48

Hi again OP,

I just realised I may have sounded like a twat stating my background. I don't do that at all IRL! I only do it online when I have an opinion formed by my experience, and I think people should know that's where I'm coming from.

Again, best wishes and I am positive that something good will work out for you. Personally I think a degree of some flavour makes sense for
you given that's what you want. Now you have the fun of figuring out what lines up best with your strengths.

poetryandwine · 11/12/2021 22:55

Ooohhh ---

Speaking of the voice of experience, what @drwitch said while I was composing is news to me. :) Great news

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