Econometrics Degree Guide

It’s all about testing theories, analysing trends and making predictions. If you enjoy maths, data and economics - and want to understand how real-world decisions are influenced by numbers - econometrics is a challenging and rewarding subject to study.

What You Study

Econometrics can be studied as:

• A full degree (e.g. BSc in Econometrics and Mathematical Economics)

• A pathway within an Economics degree

• A major/minor in Economics and Statistics

Core topics include:

• Microeconomics and macroeconomics

• Statistics and probability

• Mathematics for economics

• Linear regression and time series analysis

• Data analysis and interpretation

• Machine learning and computational techniques (in some advanced programmes)

• Applied econometrics – using data to study things like unemployment, inflation, inequality or policy outcomes

You’ll use tools like:

• Excel, R, Python, Stata or MATLAB

• Real-world datasets (government, finance, health, environment)

• Statistical software for modelling and forecasting

Useful A-Levels (or equivalent qualifications)

Econometrics is mathematically demanding. Useful subjects include:

• Maths (essential for most courses)

• Further Maths (strongly recommended for top universities)

• Economics

• Statistics or Physics

• Computer Science (for coding-heavy programmes)

Top universities (e.g. LSE, UCL, Warwick, Oxford, Cambridge) will expect A or A* in Maths, and often Further Maths.

What Makes a Strong Application

A strong application should show:

• Confidence with numbers and logic

• Interest in both economic theory and real-world data

• Examples of:

  • Independent reading (e.g. The Undercover Economist, Freakonomics, Mostly Harmless Econometrics)

  • Projects or coursework involving data or research

  • Experience using Excel, Python, or statistical tools

• For personal statements: explain why you're interested in applying maths to economic problems, not just liking both subjects separately

Career Prospects

Econometrics prepares you for high-demand roles in:

• Finance and banking – risk analysis, forecasting, investment modelling

• Government and policy – economic analysis, impact evaluation

• Consulting – data-driven decision making and business strategy

• Data science and tech – modelling user behaviour, pricing, operations

• Research and academia – especially with postgraduate study

Common job titles:

• Economic Analyst

• Data Scientist

• Risk Analyst

• Research Economist

• Quantitative Analyst (Quant)

• Policy Advisor

Transferable skills include:

• Statistical modelling

• Data handling and coding

• Economic reasoning

• Problem-solving

• Critical thinking

Studying in the UK vs Other Countries

UK

• Strong tradition in econometrics and economic modelling

• Courses often blend maths, stats and applied economics

• Top universities include LSE, Warwick, UCL, Oxford, Cambridge, Nottingham and Bristol

USA

• Often studied through Economics majors, with econometrics as a focus or specialism

• More flexibility in course structure

• Strong links to graduate study and data science careers

Canada

• Similar to the USA

• Econometrics taught in both Economics and Statistics departments

• Well-regarded for public policy and applied research training

Australia and New Zealand

• Econometrics offered as a major within Economics or Commerce degrees

• Strong focus on applied skills and public sector relevance

Europe

• Technical and maths-heavy in many countries (e.g. Germany, Netherlands, Switzerland)

• Some English-taught undergraduate programmes in Econometrics (especially in the Netherlands)

• Excellent postgraduate options in applied economics and data analytics

Final Thoughts

Econometrics is ideal for students who enjoy problem-solving, data and theory. It suits people who:

• Are confident with maths and statistics

• Want to apply their skills to understand economics and society

• Are curious about how decisions are made in policy, markets or business

• Are willing to engage with complex problems using evidence and logic