Numerous studies have suggested that the study of economics lacks diversity across a number of metrics. A lack of diversity among economists has implications for the profession and policymaking and this includes the Bank and other institutions that set policy in the UK. To date, most of the research has focused on the study of economics at undergraduate level but we recognise that decisions around GCSE and A level subjects can play an important role in influencing higher education and career choices.
In 2024, the Bank commissioned educational research agency, FFT Education Datalab to undertake a study looking at the broader trends in the study of economics from GCSE through to undergraduate level. The research covers a ten-year period and is the first of its kind. The data and subsequent analysis confirm disparities in the academic study of economics in terms of gender, type of school attended and region.
The Bank are already supporting a number of initiatives designed to widen access to economics, including efforts by the Royal Economic Society, through the Discover Economics campaign and this research will accelerate our work across a number of other programmes. The analysis and supporting data may encourage other organisations with an interest in this area to consider doing the same.
Understanding trends in the study of economics report
Supporting data - understanding trends in the study of economics