What is economics?

A short introduction to what the study of Economics is, and what kind of research we do in the School.

Economics is the study of the incentives that shape and reconcile the decisions that individuals, businesses, governments and societies make, and the macroeconomic outcomes such as economic fluctuations, growth, unemployment and crises, which may arise from those decisions.  As an Economics student, you will explore issues of economic stability, growth and development – all vital for economic forecasting and for influencing economic performance and policy. You will also examine the causes of economic growth and the policies that are designed to promote prosperity, increase efficiency and reduce unwanted fluctuation in fiscal activity. Throughout your studies, you will learn from world-leading economists before following in the footsteps of our graduates who are in demand by national and international organisations.

In our research at the School of Economics, we address key challenges in labour and macroeconomics. We focus on the big picture questions of how frictions in the labour and financial markets aggregate up to the macro-economy. We look for new developments from a foundational understanding of underlying markets including labour and credit markets, development, human capital formation, trade, health and inequality, institutions, theories of individual and group behaviour. You can read some of our focus papers to better understand the work that we do. 

We have a team of theorists and empiricists with microeconomic, macroeconomic, empirical, and behavioural perspectives who share a common ambition to work at the interface between fields to study the aggregate economy. The team works collectively and collaboratively (in-house, nationally, within Europe and internationally) to pursue this study through a common lens of informational, contractual, and institutional frictions, heterogeneity and inequality. You can familiarise yourself with our academic team ahead of your arrival. 

Economics degrees at the University of Edinburgh are awarded as MA (Hons). This is a conventional undergraduate degree, not equivalent to a postgraduate masters. To find out more about the University's degree names and structure, please refer to the Undergraduate Entry website.