4 Skills An Economics Master’s Will Give You That Could Help Launch Your Global Career
Liverpool offers an Economics MSc gives you skills in Macroeconomics, Microeconomics, and Econometrics as well as soft skills which will help you launch a global career
Find out how an Economics Masters can help you mould technical and soft skills that will make you an asset at companies across the world
At business school, economics is often grouped with finance, banking, and accountancy. While careers in those sectors often attract economics graduates, there are more opportunities from studying economics than just the traditional business sectors. Expertise in economics can help solve problems across every industry, from healthcare to aviation to retail.
The scope of economics is broad and highly rewarding. A master’s degree in economics can allow you to pursue a range of challenging careers in a variety of different fields.
Graduates possess not only a deep understanding of economic concepts but also analytical and problem-solving skills that are transferable across a wide range of industries.
Here are four skills you will gain from an economics master’s that will help you launch a global career.
1. Understanding of global economic systems
Throughout an economics master’s you will gain a deep understanding of global economic systems and how they work. This can be valuable in a global career as it will allow you to navigate complex economic environments and make informed decisions.
Understanding economic theory within a global context is something that the University of Liverpool Management School’s MSc in Economics emphasizes.
The core modules on the MSc are Macroeconomics, Microeconomics, and Econometrics and within those Liverpool specializes in Applied Economics—how you can use economic theory and research to solve real-world problems.
While the MSc in Economics touches on theory, it emphasizes how economics applies to current issues facing the world economy. These include Brexit in the UK and rising trade barriers, money and banking, economic inequality, global climate change, and health and social care.
“You have the theoretical base, but then we show you how we actually use it in the real world,” says Ian Burn, economics professor and chair in applied microeconomics at the University of Liverpool.
This was a major advantage for Ruchika Keshav (pictured), an MSc in Economics alumna, and one that she uses in her current role as a market intelligence analyst.
“There was a lot of discussion around applications of economic theory to the real world, and how the theory fits into the into the messier scenarios that we actually see in real life,” she says.
Along with giving you a strong understanding of global economics systems, you will learn how to interpret data, build models, and analyze trends, a key asset in today’s world.
Ian explains that students are introduced to programming languages: python, R, or STATA, depending on their course options.
Throughout the course at Liverpool students work building up their computer and data literacy, starting by learning simple statistics and ending with an independent dissertation.
“At the end of the program, students complete 15,000 words of original research, showing off everything they've learned.” Ian explains. “With the coding, we’ve figured out how we build their computer literacy from not knowing how to code, such that at the end of spring semester, they're self-sufficient and can write that dissertation.”
Ruchika’s dissertation focused on streaming services and how they had been affected by COVID-19 lockdowns. Her analysis found that the rise in streaming service subscriptions came from unemployment not lockdowns, demonstrating the ability of data analysis to problem solve.
Liverpool’s MSc in Economics emphasizes critical thinking and problem-solving skills, an asset in a global career where you will be faced with complex challenges.
“One of the biggest skills I've learned in the master’s at Liverpool was to not only analyze data, but also to make sense of it very intuitively.” Ruchika explains “Building a coherent, data-driven story provides actionable insights to businesses. This leads to better decision making at every level of the organization.”
Ian approaches his 10-week Applied Microeconomics class in a practical way. He uses one week covering the theory of a skill and the next having students do hands on problem-solving themselves.
“I go into the method. What's the math behind it? Where did it come from? How is it used? And then in the second week, the seminars are hands on. They’re on computers, they're working in groups, they're coding themselves,” Ian says.
Being able to analyze complex problems, break them down into smaller components, and develop creative solutions is a skill you will be able to harness throughout your career across industries.
“I think that the kind of the skills that you get from working on real world projects helps you think about the nuances of different industries, and the different problem-solving skills that you'd need to tackle these things that you don't necessarily get in an academic-only setting,” Ruchika says.
As well as the technical side of economics you will also develop soft skills during your master’s.
A Master’s in Economics requires students to communicate complex ideas and concepts effectively. The ability to articulate ideas clearly, both verbally and in writing, is valuable in a global career where effective communication is essential.
“It’s about considering every situation. Say you’re presenting you need think about colorblind people, you can't just put up green and red slides. I'm making sure that lessons don’t stop in the classroom, and we really think about the skills and how they translate into the workplace,” Ian says.
Ruchika was able to network throughout her MSc and apply her knowledge beyond the classroom. She worked on a team project with one of the UK’s leading tech companies, CNC Robotics, on a consultancy challenge, which gave her opportunities to network with students from different master’s programs including Marketing and Project Management.
“That helps you think about the nuances of different industries, and the different problem-solving skills that you'd need to tackle these things.
“I now understand a lot of the marketing world and understand how you pitch what you're trying to sell to different stakeholders in different kinds of environments, whether it's online or face-to-face,” Ruchika explains.
For Ruchika, who works in health technology on innovating cancer diagnostics, economics goes far beyond what people may expect.
She and Ian emphasize that economics and having the tools to address and solve real-world problems through analysis is an invaluable asset across global industries, and the suite of Economics programs Liverpool offers allows students to develop those tools.
“Every single industry needs economics skills, and economists in top positions driving strategy. It is crucial to understanding what is happening in the business and how other macroeconomic factors can affect different parts of your internal business,” Ruchika adds.
Well I won't tell you about all the great things about this university. But I'll just tell you my honest experience about it.
I have visited almost all the places here. This university knows how take care of their students. Be it any aspect, be it career and placement department, be it societies, be it organising committees, they know what all issues a student can face and they are ready with the solutions already.
Professors here are so welcoming. You can literarily bother them ample number of times but they will still be so nice with you. They actually put a lot of efforts to make letures more fun. They try their best to focus on each and every student and check if they are comfortable or now.
Coming to the offerings. They know that there will be a lot of international students and there will be a lot of issues they will face in adjustment over here. So they organised a lot of events, distributed a lot of free vouchers just to make students feel welcomed over here.
Trust me if you are looking for a Uni for yourself or for someone, do add this one on your priority list.
Hani
Verified
26/09/2023
On Campus
Fantastic school
The lecturers are incredibly experienced in their field of study, and it shows when they teach. They know what they are talking about, and that instills a level of trust that you have made the right choice coming to this university. They are supportive and charismatic - exactly how lecturers should be!
The accommodation is all fantastic too. Homely, comfortable, so close to campus. Even Greenbank, which is a 15 minute bus journey from campus, has its perks (heavily discounted bus pass - from £400 to £60 and free gym membership).
There are so many societies too! Literally one for everything. During the society fair, they were all so welcoming which is so great to see.
The lecture theatres are all top-notch too. It feels so modernistic. It really feels like I have had a big step up from sixth form to university. I made the right choice by coming to UoL!
Keira
Verified
10/09/2023
On Campus
Original RedBrick Review!!
The Marketing Course at this uni a great course with exceptional industry connections - for example a brand assessment centre from The Hut Group and an assessment centre at Anfield Football Stadium! The campus is great as it is all connected and everything can be found there - so whether you are a Starbucks or Cafe Nero kind of person the campus has everything. Freshers is great with campus tours, city walks and course talks to connect you with fellow coursemates. Halls was also a great experience - I loved the halls packs where you can get free tshirts, baking kits and we even got free dominoes pizzas!!
Francesca
Verified
5/09/2023
On Campus
Enjoyed every aspect of it!
My experience studying Marketing at the University of Liverpool has been amazing! All the lecturers and students have been so lovely and helpful. The management school building is my favourite place to study. I would recommend studying Marketing at the University of Liverpool because the content is so engaging and the assignments are creative.
Ramy
Verified
11/07/2023
Online
Quality
Perfect learning methodologies and curriculums, the most i liked about my learning experience with University of Liverpool is the professionalism, in delivering the subjects and helping the students gaining more knowledge.
Jessica
Verified
30/04/2023
On Campus
Amazing course
The marketing course at UOL is great the lecturers are helpful and provide in-person and online resources to succeed in assignments, and the careers department is extremely helpful. The modules are all relevant and have expanded my understanding of the marketing industry and consumer behaviour, social media and so on
Imogen
Verified
30/04/2023
On Campus
The Best Experience
Currently in my Second Year studying Marketing at the University of Liverpool. Due to the big student culture in Liverpool, you soon feel completely at ease and at home. Staff are extremely helpful - there is always opportunities to ask for additional support/guidance. Each module is clear and well organised - this definitely helps in first year when it can be easy to feel overwhelmed with the new workload. It’s very easy to find your way around due to it being a campus university as everything is in close proximity. I lived at Greenbank accommodation in my first year and the staff are so helpful and make you feel very well settled. There is a huge community feel and the modules are interactive meaning making friends is much easier and a lot less intimidating. If you’re considering attending this university and I honestly couldn’t recommend more - you’ll have the best experience!
Student
Verified
6/02/2023
On Campus
Culture
One of my favourite things about this university is the diversity of its people. I met so many different people during my time here, from all different backgrounds and experiences. Not only did these people provide me with insight and knowledge into their own cultures and beliefs, they also allowed me to learn about and understand different ways of life that I would have otherwise never been exposed to. The tutors were also incredibly supportive on this course and allowed me to excel.
India
Verified
29/11/2022
On Campus
Great university!
I did my undergrad in film studies at LJMU and I honestly could not recommend it enough. It has the perfect mix of practical and theory work that prepares you for any job possible in the film industry, from lighting tech to AD. The university lecturers were also very attentive, and I felt comfortable enough with them to seek their help if I ever had an issue or concern, academic or personal. LJMU gave me experiences I would not have got anywhere else, offering summer placements completely free that broadened my horizons. The fact the campus is interspersed around the city also makes it very convenient.
Student
Verified
27/12/2023
On Campus
Law Program
UoL has been a great school to attend so far. I attend UoL's campus in the Cayman Islands, Truman Bodden Law School. Being on such a small island, it has been great with the personal face-to-face with lecturers in understanding topics.
Karan
Verified
28/09/2023
On Campus
My experience in UOL
Well I won't tell you about all the great things about this university. But I'll just tell you my honest experience about it.
I have visited almost all the places here. This university knows how take care of their students. Be it any aspect, be it career and placement department, be it societies, be it organising committees, they know what all issues a student can face and they are ready with the solutions already.
Professors here are so welcoming. You can literarily bother them ample number of times but they will still be so nice with you. They actually put a lot of efforts to make letures more fun. They try their best to focus on each and every student and check if they are comfortable or now.
Coming to the offerings. They know that there will be a lot of international students and there will be a lot of issues they will face in adjustment over here. So they organised a lot of events, distributed a lot of free vouchers just to make students feel welcomed over here.
Trust me if you are looking for a Uni for yourself or for someone, do add this one on your priority list.
Hani
Verified
26/09/2023
On Campus
Fantastic school
The lecturers are incredibly experienced in their field of study, and it shows when they teach. They know what they are talking about, and that instills a level of trust that you have made the right choice coming to this university. They are supportive and charismatic - exactly how lecturers should be!
The accommodation is all fantastic too. Homely, comfortable, so close to campus. Even Greenbank, which is a 15 minute bus journey from campus, has its perks (heavily discounted bus pass - from £400 to £60 and free gym membership).
There are so many societies too! Literally one for everything. During the society fair, they were all so welcoming which is so great to see.
The lecture theatres are all top-notch too. It feels so modernistic. It really feels like I have had a big step up from sixth form to university. I made the right choice by coming to UoL!
Keira
Verified
10/09/2023
On Campus
Original RedBrick Review!!
The Marketing Course at this uni a great course with exceptional industry connections - for example a brand assessment centre from The Hut Group and an assessment centre at Anfield Football Stadium! The campus is great as it is all connected and everything can be found there - so whether you are a Starbucks or Cafe Nero kind of person the campus has everything. Freshers is great with campus tours, city walks and course talks to connect you with fellow coursemates. Halls was also a great experience - I loved the halls packs where you can get free tshirts, baking kits and we even got free dominoes pizzas!!
Francesca
Verified
5/09/2023
On Campus
Enjoyed every aspect of it!
My experience studying Marketing at the University of Liverpool has been amazing! All the lecturers and students have been so lovely and helpful. The management school building is my favourite place to study. I would recommend studying Marketing at the University of Liverpool because the content is so engaging and the assignments are creative.
Ramy
Verified
11/07/2023
Online
Quality
Perfect learning methodologies and curriculums, the most i liked about my learning experience with University of Liverpool is the professionalism, in delivering the subjects and helping the students gaining more knowledge.
Jessica
Verified
30/04/2023
On Campus
Amazing course
The marketing course at UOL is great the lecturers are helpful and provide in-person and online resources to succeed in assignments, and the careers department is extremely helpful. The modules are all relevant and have expanded my understanding of the marketing industry and consumer behaviour, social media and so on
Imogen
Verified
30/04/2023
On Campus
The Best Experience
Currently in my Second Year studying Marketing at the University of Liverpool. Due to the big student culture in Liverpool, you soon feel completely at ease and at home. Staff are extremely helpful - there is always opportunities to ask for additional support/guidance. Each module is clear and well organised - this definitely helps in first year when it can be easy to feel overwhelmed with the new workload. It’s very easy to find your way around due to it being a campus university as everything is in close proximity. I lived at Greenbank accommodation in my first year and the staff are so helpful and make you feel very well settled. There is a huge community feel and the modules are interactive meaning making friends is much easier and a lot less intimidating. If you’re considering attending this university and I honestly couldn’t recommend more - you’ll have the best experience!
Student
Verified
6/02/2023
On Campus
Culture
One of my favourite things about this university is the diversity of its people. I met so many different people during my time here, from all different backgrounds and experiences. Not only did these people provide me with insight and knowledge into their own cultures and beliefs, they also allowed me to learn about and understand different ways of life that I would have otherwise never been exposed to. The tutors were also incredibly supportive on this course and allowed me to excel.
Student
Verified
30/09/2024
On Campus
MA Philosophy at UoL
The program so far is great, the staff and teachers are super helpful. They help from making your CV to helping you with writing PhD proposals to basic English Language to be able to write good essays for assessment.
Abhishek
Verified
29/09/2024
On Campus
A Friendly City ~ Liverpool
The University of Liverpool is nestled in a city known for its friendly and welcoming nature. The people of Liverpool, often referred to as "Scousers," are known for their warmth, humor, and helpfulness, making it easy for students and visitors to feel at home. The city's roads are well-maintained, and public transport is easily accessible, with buses and trains connecting various parts of the city efficiently. Walking around Liverpool is enjoyable, with plenty of green spaces, parks, and historical sites to explore.
The environment is a mix of urban and scenic, with the River Mersey providing a beautiful backdrop and the city offering a blend of modern and historic architecture. The climate is typically mild, with cool winters and pleasant summers. Rain can be frequent, but it's usually light, adding to the city's lush greenery. Overall, Liverpool offers a comfortable and vibrant living environment with a friendly atmosphere, making it a great place for students and residents alike.
Student
Verified
26/09/2024
On Campus
Employability skills
ULMS Extra provides you with workshops and talks about employability.
I feel prepared for the working world.
I am doing an industry year which i feel fully prepared for and know i will be supported throguhout.
Student
Verified
26/09/2024
On Campus
Employability skills
ULMS Extra offers great workshops and talks about employability.
The University itself is great with making sure you are prepared for the working world post-graduation.
I am doing an industry year which I feel I will be fully prepared for and supported.
Student
Verified
23/09/2024
On Campus
10
The MSc Finance program at the University of Liverpool offers a well-rounded and challenging curriculum designed for students who want to excel in the financial sector. The course covers essential topics such as Corporate Finance, Portfolio Theory, Financial Econometrics, and Security Analysis, equipping students with both theoretical knowledge and practical skills.
Student
Verified
22/09/2024
Blended
A100Medicine
Year leads are very receptive to new ideas always looking to improve the course. In person session like clinical skills and HARC are interactive and staff are friendly and always very helpful. However, there should be more resources made available to help learn and understand online lectures.
Student
Verified
22/09/2024
On Campus
A Dynamic Learning Environment
The University of Liverpool has been an incredible experience so far. The campus is vibrant, with a strong sense of community that makes it easy to feel at home. What stands out the most is the high quality of education, with professors who are not only knowledgeable but also approachable and willing to offer support beyond the classroom.
I’ve enjoyed the diverse range of extracurricular activities, which provide ample opportunities to develop personally and professionally. The university also offers fantastic resources for student support, including career services that help you prepare for life after graduation.
I would absolutely recommend the University of Liverpool to anyone looking for a dynamic and inclusive environment that nurtures both academic growth and personal development. It’s a place where you can truly thrive.
Student
Verified
18/09/2024
On Campus
Its awesome
University of liverpool is too good to study in and you will definately build your career from it and gain some great technical and soft transferable skills to your full time and part time job or internship
Student
Verified
9/10/2024
Blended
The University of Liverpool: A unique experience
Studying History and English Literature at the University of Liverpool was an enriching experience. I had the chance to engage in vibrant societies, meet diverse students, and benefit from excellent facilities and support services.
If you want an institution that stands on principles whilst embracing modernity, look no further!
Student
Verified
13/10/2024
On Campus
Loving it so far!
I would 100% recommend UOL to all the candidates who want to pursue MSc Advanced Marketing. The modules are so accurate, involving and designed to make you industry ready. The lectures, seminars and sessions are very engaging and interesting.
Student
Verified
15/10/2024
On Campus
university review
A wonder institution, love the faculty and would highly recommend other students to join it. The education system is great and the buildings are designed in such a way that they are easily accessible
Student
Verified
22/10/2024
On Campus
Excellent Degree Programme
I do Media and Culture and love the course modules. They're all super interesting and clear, as well as the lecturers being extremely helpful. There is a good amount of workload that is challenging yet manageable. The University resources are also very helpful alongside a lovely campus.
