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Subject Benchmark Statement

Subject Benchmark Statements describe the nature of study and the academic standards expected of graduates in specific subject areas. They show what graduates might reasonably be expected to know, do and understand at the end of their studies.

Below you will find the full Subject Benchmark Statement for Economics. Alongside it, we have also published a summary designed to provide a short and accessible overview of the main Statement for students, employers and academics.

Subject Benchmark Statement: Economics

Publication date: 08 Mar 2023

Subject Benchmark Statement: Economics - the basics

Publication date: 08 Mar 2023

About this subject


Economics is the study of individuals and groups and how they interact and make decisions individually and collectively in the context of prevailing institutions, power structures and the external context. It seeks to inform the design and implementation of economic policy, based on theoretical and empirical analysis. A key aim of economics is to analyse and understand the allocation, distribution and utilisation of resources and the consequences for economic and social well-being and for sustainability.

Economics enables students to be productive and responsible citizens who can critically evaluate and apply the tools and content of the course to identify key contemporary problems such as climate change; political uncertainty; economic uncertainty, poverty and inequality; and the challenges and opportunities provided by digital technology, and develop strategies to address them.

Professor Parama Chaudhury – Chair of the Advisory Group
Pro-Vice Provost (Education – Student Academic Experience), University College London

What is studied, how it is studied and who studies it is increasingly a matter of discussion across the global economics profession. It is therefore a great time to develop this Statement with a focus on EDI, accessibility, employability, entrepreneurship and educating for a sustainable future.

The Statement captures the state-of-the-art and good practice in the design and delivery of a modern Economics degree, highlighting the inclusive, innovative and student-centred approach to economics education today.

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