economics

Study Economics Degree and Courses in Malaysia

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With the current pandemic ongoing, the “word” economy or economic would have been repeated multiple times either on the national news airing on the tv or the local newspaper. If you’re someone who has been following news about financial reports and the current economic trends; and has been curious about what affects a country’s economy and how could a country improve its economy, a degree in economics might be the right one for you. 

In this article, we’ll be diving deeper into the basics of economics, why is it important and the pathway to becoming an economist. 

What is Economics?

Economics is one of the social science groups that explore issues that impact financial situations and decisions. Economics looks at how the world’s limited resources are used and distributed among individuals and organizations. It also studies how people make choices under scarcity (limited) and the impact of these decisions on society. 

The two significant branches of economics are macroeconomics and microeconomics. Microeconomics is the study of individual choices under scarcity, and its implication on prices and quantities in a particular market. For example, when there’s a limited amount of face masks available in the market, prices of face masks go up, but people would still buy as long as the necessity of face mask continues to be present in the market. While Macroeconomics looks at the bigger picture of a country’s economy as a whole; and studies national economics and the policies the government implements to improve its economic performance. Macroeconomics tries to find answers and solutions for questions such as “What would the inflation rate be in the next 5-10 years?” or “Why is the rate of unemployment increasing and what could be done on a national level to decrease the rate of unemployment?”.

Why is Economics Important?

Economy and business work hand in hand, one isn’t able to survive without the other. Businesses are the engines of an economy as they provide job opportunities which generate incomes, make goods and provide services for consumers to purchase. A balanced healthy supply and demand chains in a thriving market is what economics is about. Economies can exist without businesses, but they will not be substantial. Imagine an economy where everyone just works for themselves and produces their own products, there would be a limitation in the purchasing power resulting in not everyone’s needs or demands could be met. A thriving economy in any country helps to improve the quality lives of its citizens by improving one’s earning and spending power, better health care development and also the quality of education.

What are the Roles of an Economist?

An economist is an expert who studies the relationship between a society’s resources and its production or output. Economists study societies ranging from small communities to the entire nation and even the global economy.

An economist’s expert opinions and research findings are used to help shape a wide variety of policies, including interest rates, tax laws, international trade agreement, and employment programs.

There are various duties of an economist, including researching economic issues, conducting surveys and collecting data, interpreting and forecasting market trends, and advising businesses and the government.

What are the Skills Needed to Pursue an Economics Course

  • Knowledge of social sciences:  Although mathematics is an important skill it is not all you need to become a successful economist. Economics also has much common ground with other social science subjects that plays an important role too. For example, psychology helps economists observe  consumer behaviour while history is the study of events, allows economists to look at the similarities of different events and question if it supports a particular economy theory or model. 
  • Independent thinking: While it’s evident that it is essential to know other people’s work and theories but to be a successful economist, you also will need to have insights and ideas of your own. The ability to think for yourself and question what you know will allow you to take new directions and develop original research that will make you a better economist.
  • Good in numbers: Numeracy is a crucial skill for an economist. From dealing with large datasets to interpreting visual data like graphs, you’ll need to be comfortable handling numbers and working with mathematical principles. 
  • Good at understanding complex systems: The fact is that economics is a complex subject which looks at complex systems. You’ll need to be able to pull together information from different sources from various fields.

Career Path for Economics Graduates

  • Economist: Study how society distributes resources, such as land, labour, raw materials, and machinery, to produce goods and services. They conduct research, collect and analyze data, monitor economic trends, and develop forecasts on a wide variety of issues, including energy costs, inflation, interest rates, exchange rates, business cycles, taxes, and employment levels, among others.

 

  • Financial Risk Analyst: Identifies and analyses potential risk threatening the financial position of commercial and industrial corporations. 

 

  • Data Analyst: A data analyst collects, processes and performs statistical analyses on a large dataset. They discover how data can be used to answer questions and solve problems related to financial and economic trends. 

 

  • Financial Planner: A financial planner is a qualified investment professional who helps individuals and corporations meet their long-term financial objectives or to build and obtain wealth. Financial planners do their work by consulting with clients to analyze their financial goals, risk tolerance, and life or corporate stages and then identify a suitable class of investments. 

What are the Core Subjects Taught in Economics?

  • Statistics
  • Econometrics
  • Macroeconomics
  • Microeconomics

How Do I Become an Economist

There are two pathways to become an economist, the first pathway takes around 3 years after completing the pre university program (A-Level, Foundation, etc). The second pathway is by signing up for a Diploma program which roughly takes around 2-2.5 years to complete and students can progress directly into Year 2 of the degree program. 

General Entry Requirement

 

A-Level

Minimum 2Es

Diploma 

Minimum CGPA of 2.0

Foundation 

Minimum CGPA of 2.0 

STPM

Minimum CGPA of 2.0

UEC 

Minimum 5Bs

Entry requirements vary according to universities. For inquiries on any other entry requirements please contact us at Excel Education 

Top Universities to Study Economics

Nottingham University, Malaysia

Nottingham University provides the flexibility for students to tailor the course according to their choice of interest as Nottingham provides two options of in-depth courses for Economics. By providing a wide range of subjects, Nottingham lays the foundation for their students in terms of techniques and knowledge that they are sought after by employers. Ranked to be in the top 200 universities around the world, Nottingham provides their students to transfer campuses in China, Dubai or the campus in the UK itself.

Programme 

Bachelor of Science (Hons) Economics

Bachelor of Science (Hons) Economics and International Economics

Duration

3 Years 

3 Years

Intake

September

September

Indicative Fees (2021)  

Local: RM 37,300

International: RM 46, 800

Local: RM 37,300

International: RM 46, 800

Monash University, Malaysia

Monash University offers 9 different majors and one of them is Applied Economics. Students are given the choice of either choosing to pick one or two majors in their degree program. Students will be covering modules about business, commerce and also applied economics much more in-depth which makes them much more wanted industry.

Programme 

Bachelor of Business & Commerce, major in Applied Economics

Duration

3 Years

Intakes 

February, July & October

Indicative Fees (2021)  

Local: RM38, 213

International: RM 43, 680

Taylor’s University

Picture Credits: Taylors University 

Taylors University program equips students with an in-depth understanding of economics behaviour and an extensive knowledge on the financial sector. Unlike other institutions, Taylor’s University provides students with the flexibility to study modules who have multiple interests either related or unrelated to the degree program. Students are also given the option to complete their final year by transferring to the partner universities in Australia. Graduates from the program will also be given the opportunity to pursue the Chartered Financial Analyst (CFA) program. 

Programme 

Bachelor of Business (Hons) Finance & Economics 

Duration

3 Years

Intakes 

January, March & August

Indicative Fees (2021)  

Local: RM 99, 878 

International: USD 29, 212

Help University

Picture Credits: Vn Edu 

Help University provides their students with two options to enroll into which are the degree program provided by Help University or by University of London, the duration for both universities however remains the same and can be completed locally.  Help University emphasizes both theory and relevant application. Upon graduation, students will be able to embark on various career paths. 

Programme 

Bachelor of Economics (Hons)

Bachelor of Science (Hons) Economics, University of London

Duration

3 Years

3 Years

Intakes 

January, May & August

March, May, July & September

Indicative Fees (2021)  

Local & International: 

RM 62, 300

Local & International: 

RM 50, 000

Multimedia University CyberJaya (MMU)

Picture Credits: MMU 

Students in this program will be able to construct various econometrics models for analysis and decision making. MMU also provides the opportunity for students to pick their own elective subjects for the program by providing 5 different elective options. However, since this is a degree that has significant hours for quantitative and programming subjects, hence making the graduates from MMU ready for the working world. 

Programme 

Bachelor of Analytical Economics (Hons)

Duration

3 Years

Intakes 

April, July, September & November

Indicative Fees (2021)  

Local: RM52, 000

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Rebecca Visvanathan

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8 Business Majors: Which one is the best for you?

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business branches article

When it comes to business, there is much more than just product, money, and customer. The word business itself comes with a long list of majors that serve different purposes and have different goals each.

Today we will look into 8 business majors that have always been at the top of the list for students’ choice — and see for yourself which one is the best for you.

 

Accounting

About Accounting: You will learn how to track, analyze and manage financial statements, prepare financial documents and manage business operations.

Career Prospects:

  • Accountant
  • Financial Analyst

Choose Accounting if you are

Recommended Universities to study Accounting in Malaysia

University

Taylor’s University

UOW Malaysia KDU

Program Name

Bachelor of Arts (Hons) Accounting & Finance

Bachelor of Accounting (Hons)

Program Duration 

3 years

3 years

Intakes

March, August

January, June, September

Indicative Annual Fee

Local students: RM99,900

International students: RM122,200

Local students: RM76,230

International students: RM89,930

Finance

About Finance: You will learn the basics of finance including accounting, economics, project management, business principles and how to use this information to help companies and individuals plan for the future. It will teach you about investments and how to make long-term plans.

Career Prospects: 

  • Private Equity Associate
  • Investment Analyst

Choose Finance if you are

Recommended Universities to study Finance in Malaysia

 

University

Asia Pacific University (APU)

University of Nottingham Malaysia

Program Name

Bachelor in Banking and Finance (Hons)

Finance, Accounting and Management BSc (Hons)

Program Duration 

3 years

3 years

Intakes

February, September, November

February, September

Indicative Annual Fee 

Local students: RM26,000

International students: RM29,000

Local students: RM37,000

International students: RM45,500

Economics

About Economics: You will learn about economic principles and theory, including the use of math and data analysis. It will teach you to analyze and forecast economic trends in order to improve business operations and performance.

Career Prospects:

  • Budget Analyst
  • Contract Specialist

Choose Economics if you are

Recommended Universities to study Economics in Malaysia

 

University

University of Nottingham Malaysia

UCSI University

Program Name

Economic BSc (Hons)

Bachelor of Financial Economics (Hons)

Program Duration 

3 years

3 years

Intakes

September

January, May, September

Indicative Annual Fee

Local students: RM36,000

International students: RM45,500

Local students: RM22,000

International students: RM23,000

Business Management/Administration

About Business Management/Administration: You will learn the fundamentals of business, how businesses operate, how to analyze a businesses’ strengths and weaknesses, how to create organizational strategies and how companies plan and implement industry changes.

Career Prospects:

  • General Manager
  • Deputy Director

Choose Business Management/Administration if you are

Recommended Universities to study Business Management/Administration in Malaysia

 

University

Asia Pacific University (APU)

Heriot-Watt University Malaysia

Program Name

BA (Hons) in Business Management

BBA (Hons) Bachelor of Business Administration

Program Duration 

3 years

3 years

Intakes

February, September, November

January, April

Indicative Annual Fee 

Local students: RM29,000

International students: RM30,000

Local students: RM35,500

International students: RM41,200

Human Resources Management

About Human Resources Management: You will learn how to recruit and retain skilled talent, interviewing skills, state and federal workplace regulations and how to train and motivate employees.

Career Prospects:

  • Human Resources Manager
  • Student Advisor

Choose Human Resources Management if you are

Recommended Universities to study Human Resources Management in Malaysia

 

University

Asia Pacific University (APU)

SEGI University & College

Program Name

BA (Hons) Human Resource Management

BA (Hons) Human Resource Management

Program Duration 

3 years

3 years

Intakes

February, September, November

January, February, April, June, August, September

Indicative Annual Fee 

Local students: RM29,000

International students: RM30,000

Local students: RM21,600

Public Relations

About Public Relations: You will learn about the principles of strategic communication, community event planning and how to manage relationships with news media.

Career Prospects:

  • Social Media Supervisor
  • Event Coordinator

Choose Public Relations if you are

Recommended Universities to study Public Relations in Malaysia

 

University

SEGI University & College

UOW Malaysia KDU

Program Name

Bachelor of Arts (Hons) English & Public Relations

Bachelor of Arts (Honours) in Public Relations

Program Duration 

3 years

3 years

Intakes

January, June, September

January, June, September

Indicative Annual Fee 

Local students: RM20,700

Local students: RM57,790

International students: RM68,080

Marketing

About Marketing: You will learn the fundamentals of areas such as market research, communication and marketing strategies. It will teach you how to accomplish tasks such as product promotion or consumer research in order to achieve business goals like increasing sales, building brand awareness and improving customer retention.

Career Prospects:

  • Marketing Specialist
  • Copywriter

Choose Marketing if you are

Recommended Universities to study Marketing in Malaysia

 

University

SEGI University & College

UCSI University

Program Name

BA (Hons) Marketing Management

BA (Hons) Marketing

Program Duration 

3 years

3 years

Intakes

January, April, July, September

January, May, September

Indicative Annual Fee 

Local students: RM21,600

Local students: RM24,000

International students: RM25,000

Advertising

About Advertising: You will learn how to make a message stand out from the crowd by learning about what makes an audience tick and how to best reach them through media. 

Career Prospects:

  • Media Planner
  • Media Director

Choose Advertising if you are

Recommended Universities to study Marketing in Malaysia

 

University

UOW Malaysia KDU

UCSI University

Program Name

Bachelor of Arts (Hons) in New Media and Advertising

BA (Hons) Branding and Advertising

Program Duration 

3 years

3 years

Intakes

January, June, September

January, May, September

Indicative Annual Fee 

Local students: RM57,790

International students: RM68,080

Local students: RM22,000

International students: RM23,000

Still have no idea which one to choose? Get your FREE consultation with us now!

Contact us to find out more!

Student enquiries:

Call/Whatsapp: +60182414802

Email: info.my@exceleducation.com.au

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Heather

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Top 5 Universities to Study Banking & Finance in Malaysia (2020)

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What is Banking & Finance?

If you’re interested in the mix of business, economy, and math, taking a degree in banking and finance might be the perfect fit for you! Banking and Finance are two things that relate closely to each other. 

Banking and finance is a large field with many growth opportunities. Typically, in order to get into the banking and financial services field, most positions require a bachelor’s degree in banking and finance or business-related.

When taking a degree in banking and finance, you will be introduced to a wide range of subjects including banking, financial decision making, financial markets, accounting, and many more. This wide range of topics will give you an in-depth knowledge of the way the financial systems work.

What skills do you need for Banking & Finance course?

  • Analytical 

An analytical thinking person is really needed in the banking and finance sector. The ability to see the identify the situation, trends, different scenarios, and also come up with an answer with critical interpretations will surely benefit both you and your future company.

  • Communication skill

As with any job, communication skill is an essential key in the workplace, and it goes the same with banking & finance. It requires good communication skills to be able to deliver their opinions/ideas properly and explaining the facts. 

  • Problem-solving

Whether dealing with the financial implications of a complicated business structure or finding a solution to the dilemma of a client, the ability of problem-solving will be one of the important keys that companies are looking for. 

  • Adapt with technology

Technology has now played a big role in every sector of a business, and always evolving throughout time. Being a banking and finance student means you have to familiarise yourself with various forms of technologies and software. Not only it will help you to work better, but also improve your technical skills.

Career options

  • Financial analyst
  • Investment banker
  • Bank manager
  • Auditor
  • Budget analyst
  • Broker
  • Financial manager

Recommended universities to study Banking & Finance in Malaysia

1. Monash University

Malaysia-campus-2-

General intakes

February, July, October

Campus location

Bandar Sunway

Qualifications

Bachelor of Business and Commerce (major in Banking and Finance)

Indicative fee (2020)

Local: RM 38,213

International: RM 43,680

2. Taylor’s University

tay

General intakes

March, August

Campus location

Subang Jaya

Qualifications

Bachelor of Business (Hons) Banking & Finance

Indicative fee (2020)

Local: RM 99,430

International: RM 117,399

3. Asia Pacific University (APU)

apuu

General intakes

April, September, November

Campus location

Bukit Jalil

Qualifications

Bachelor in Banking & Finance (Hons)

Indicative fee (2020)

Local: RM 78,000

International: RM 88,200

4. INTI University & College

INTI-9

General intakes

January, May, August

Campus location

Nilai

Qualifications

Bachelor of Banking & Finance (Hons)

Indicative fee (2020)

Local: RM 69,982

International: RM 73,492

5. KDU University College

kdu

General intakes

January, June, September

Campus location

Shah Alam

Qualifications

Bachelor of Arts in Banking & Finance (Hons)

Indicative fee (2020)

Local: RM 71,750

International: RM 85,450

Contact us to find out more!

International Student enquiries:

Email: info.my@exceleducation.com.au

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Amanda Kaffah

I am a part-time content writer, a part-time Computer Science student, and a full-time dreamer. Likes to munch some food while doing some work or watching netflix.

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