Oxford and Cambridge are two of the most renowned universities in the world, with all of their courses being regarded as some of the best in their respective fields. Economics is no exception, but which one should you choose?
There are lots of factors that go into this decision, from rankings or course content and acceptance rates. In this guide, we’ll take a look at everything you need to know to make an informed decision about which Oxbridge university you should apply to.
Why Oxbridge Economics?
You may have heard that Oxford and Cambridge are two of the best universities in the world, but why is this actually the case, and why should you apply to one of them? Let’s review this question first.
Oxford and Cambridge share a strong historical connection and are collectively known as “Oxbridge.” They differ significantly from most other universities around the world, with distinctive traditions and unique characteristics. These factors have helped establish their status as two of the top-ranked universities globally. Some reasons you might consider studying there include:
Teaching Style
Both Oxbridge universities place a strong emphasis on personalised teaching over large-scale lectures. While lectures remain an integral part of the academic experience, students are primarily encouraged to engage in individual study or work in small groups. A key feature of this approach is the Tutorial (at Oxford) or Supervision (at Cambridge) system – distinctive and regular teaching sessions that are unique to Oxbridge.
Colleges
The collegiate systems at Oxford and Cambridge offer students a uniquely different university experience. Each college has its own character and community, and the choice of college plays a significant role in shaping your life at Oxbridge.
History
With a history stretching back nearly a thousand years, Oxbridge is steeped in tradition, historic architecture, and enduring stories that continue to influence student life. This deep-rooted heritage is a key part of what makes the Oxbridge experience so distinctive – and why it attracts so many applicants.
Rankings
On both primary ranking tables for Economics in the UK, Oxford and Cambridge appear in the top five. While rankings are far from definitive, the Oxbridge universities do traditionally appear this high each for most subjects, as well as the overall rankings.
Prestige
Graduates of Oxford and Cambridge universities often enjoy enhanced career prospects globally. This is due to the historical prestige of these institutions and the recognition of the rigour of their courses. Consequently, an Oxbridge degree typically provides a significant advantage in the professional world.
While these are all valid reasons to apply to Oxbridge, you might also have more specific motivations. These could be tied to the course content itself or personal reasons that are unique to you.
Why Not Oxford and Cambridge?
If Oxford and Cambridge are both great options, why shouldn’t students apply to both? This isn’t possible for applicants, as UCAS, the UK’s university application service, has specific rules that prevent applications to both Oxbridge universities within the same application cycle. This means you’ll need to make a choice, although you will have the option to apply to both in different years, should you not get your offer the first time.
If you’ve decided that Oxford or Cambridge is the right fit for you, the rest of this guide will help you understand how the two universities differ and why you may want to pick one over the other.
Oxford and Cambridge Economics Rankings
Rankings should never be used as the sole deciding factor for university selection, but they can act as a good starting point for your research. Our Economics University Rankings Guide takes an in-depth look at two major ranking tables (The Complete University Guide and The Guardian), but for now, let’s see how Oxford and Cambridge performed in the tables:
Oxford Economics Ranking 2025
Complete University Guide
3rd
The Guardian
1st
Cambridge Economics Ranking 2025
Complete University Guide
1st
The Guardian
3rd
As we can see, both universities performed equally well, switching spots on each table. While two other universities were considered better than either Oxford or Cambridge in each table, Oxbridge still generally came out on top of the tables.
Other High-Ranking UK Economics Degrees
While Oxford and Cambridge are generally considered the best universities for Economics, they aren’t the only high-ranking institutions. Here are some other universities that you may want to consider:
G5 Universities
Oxford and Cambridge are two of the five members of the G5 Universities. These are five universities in the UK that are all famous for their prestige, including University College London (UCL), Imperial College London and the London School of Economics (LSE).
All of these universities offer Economics, although Imperial’s degree only launched in 2023 and has not appeared in either ranking table yet. Of the remaining two, LSE was ranked above Oxford by Complete University Guide, while landing in 5th place on The Guardian’s list. UCL didn’t perform quite as well, ranking 7th and 16th on each list.
Russell Group Universities
Another prestigious group of universities in the UK is the Russell Group, which includes all of the G5 Universities, plus 19 other institutions. Within the Top 10 of each list, Russell Group members include Durham, Nottingham, Liverpool, Leeds and Warwick. These universities typically perform well in UK rankings, so these placements aren’t unexpected.
University of St Andrews
Though not a member of the G5 or Russell Group, the University of St Andrews is commonly seen at the top of UK ranking tables and is seen as one of the top universities in Scotland. It was placed 4th by Complete University Guide and 2nd by The Guardian, both very good spots to be in. Although it was the only Scottish university in Complete University Guide’s Top 10, Herriot Watt was ranked 9th by The Guardian.
Remember to consider these rankings with a pinch of salt, as nothing on the list is definitive or permanent – ranking tables are updated each year! Lower-ranking universities generally don’t offer a bad experience, just a weaker one than the UK’s best universities.
Whatever your decision, we will help you achieve your Oxbridge Economics dreams.
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Is Oxford or Cambridge More Competitive For Economics?
A key factor to consider when applying to any university is the acceptance rate, which reflects your chances of getting in. Economics has always been a more competitive degree to apply for, and Oxford and Cambridge are particularly challenging to get into. Here are the acceptance rates for their Economics courses in 2025:
Applicants: 1,517
Offers: 93
Acceptances: 83
Offer Rate: 6.1%
Acceptance Rate: 5.5%
Applicants: 1,571
Offers: 197
Acceptances: 161
Offer Rate: 12.5%
Acceptance Rate: 10.2%
While Cambridge Economics has a fairly average admissions rate for Oxbridge, Economics & Management is actually Oxford’s 2nd most competitive degree, only behind Mathematics & Statistics. This means that Oxford applicants will need to be extremely confident and well-prepared to stand a decent chance of getting a place.
Oxbridge Economics Interview Shortlisting Rates
To receive an offer from Oxford or Cambridge, you’ll need to attend an interview at the college you’re applying to. These interviews allow the admissions team to learn more about you personally, but not all applicants are invited to this stage.
Oxford Economics Interview Rate
18%
(Data stated on course page)
Cambridge Economics Interview Rate
70%
As well as having better success rates, Cambridge applicants are also far more likely to be interviewed. While 70% is an average interview rate across the whole university, Cambridge is generally known for being more generous with interviews.
So, unless you’re really confident in your ability to be admitted, Cambridge may be the better option for you. However, consider that once you’re invited to an interview, your chance of getting an offer is actually far higher at Oxford, as you’ve already made it past most of the competition. However, getting to that stage is tough, so let’s look at the admissions processes for each university next.
Oxford and Cambridge Economics Application Process
As we’ve seen, it can be tough to get an interview at Oxford, but that’s just the final part of the admissions process. Let’s review the full application processes for each university:
UCAS Application
As with all UK university applications, you’ll need to apply through UCAS. This process requires you to submit your personal information, academic history, chosen universities and a reference from a teacher or tutor at your school or college.
Applying to Oxbridge follows the same general UCAS process, but it’s crucial to be aware of the earlier deadline. While most UCAS applications are due by late January, if you’re applying to Oxford or Cambridge, you must submit your application by October 15th to be considered.
UCAS Personal Statement
You need to submit your answers online alongside your UCAS application by October 15th. Although Oxford staff have stated that the Personal Statement doesn’t heavily influence their shortlisting decisions, it is still essential to include one whether you’re applying to Oxford or Cambridge.
Be aware that Personal Statements are changing in 2025, so be ready for the new format if you’re applying next year.
College Selection
A unique part of applying to Oxbridge is choosing a specific college. Even though you’re applying to either Oxford or Cambridge University, your application is technically for one of their individual colleges (unless you choose an “open application”). Your college will handle the majority of the application process, so it’s important that you choose your college based on the subjects it excels at, as well as your own preferences. You can learn more about every Oxbridge college in our dedicated guides below:
Admissions Tests
When applying to most major Oxbridge courses, applicants will need to complete an admissions test prior to being invited to interview. At Oxford, this test is the Thinking Skills Assessment (TSA), while Cambridge has the Test of Mathematics for University Admissions (TMUA).
These are two very different tests, although they also have similarities. They’re both multiple-choice quizzes that are taken on computers, but the content of the tests is very different.
The TSA is a general admissions test that aims to test applicants on Critical Thinking and Problem Solving. No subject knowledge is required here, other than some basic mathematics and reading comprehension skills, so there aren’t many ways to revise other than practising questions. Be aware that there is also a writing task included in the test, but this isn’t required to be completed by E&M applicants.
Cambridge is more interested in testing its applicants’ mathematical ability, as the TMUA is entirely based on maths. It’s split into two parts, one tackling pure maths and the other tackling mathematics in practical scenarios. The level of required ability is much higher here, as you will need to be able to solve problems at a GCSE and lower A-Level standard.
Neither university sets a set cut-off score, but applicants will need to score as high a result as possible in order to remain competitive. Therefore, lots of practice questions and mock exams will be the best way to approach your preparation.
Interviews
While interviews for an Economics degree are uncommon at most UK universities, Oxford and Cambridge require them for all courses, including Economics.
Usually taking place remotely during the first three weeks of December, you’ll have at least two interviews with college academics. While some personal questions may be asked, a significant portion of these interviews will focus on assessing your academic abilities and your understanding of the subject through a variety of questions like the one featured in our Oxbridge Economics Interview Guide.
Once all these steps are complete, there’s nothing left to do but await your offer (unless you’re called for additional interviews). Now, let’s look at some key differences in the application process for Oxford and Cambridge:
Differences Between Oxford and Cambridge Economics Application Process
- Oxford applicants must complete the TSA before interviews, while Cambridge applicants take the more mathematics focused TMUA.
- Oxford applicants are less likely to be interviewed.
- Cambridge applicants must complete an additional form called the My Cambridge Application, which is similar to the UCAS form but is only reviewed by Cambridge.
- While some Cambridge colleges offer or mandate in-person interviews, Oxford has announced that all their interviews will continue to be held remotely for the foreseeable future.
- Both universities utilize a pooling system for applicants not accepted by their initial college choice; however, Cambridge's system is more comprehensive. This includes the Winter Pool, which provides candidates with an additional chance to be interviewed and potentially gain admission from other colleges.
Despite these differences, the core elements you’ll need to excel at in your application, as well as the high standards of the admissions tutors, remain largely consistent.
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Oxford And Cambridge Economics Entry Requirements
Now we know about the application process, we need to learn about the entry requirements in order to be accepted. This primarily comes down to the grade boundaries, so let’s take a look:
A-Levels
A-Levels are the main form of assessment in UK education and are graded from A* to F. Here are the A-Levels you’ll need to achieve:
Oxford Economics A-Level Requirements
A*AA with A in Mathematics.
Cambridge Economics A-Level Requirements
A*A*A with grade in Mathematics.
Some colleges may have specific requirements, such as requiring A* in Mathematics, so review the application requirements for any college you’re interested in or contact them directly if you are unsure. GCSEs are also considered, but there aren’t any specific requirements other than needing to have at least 5 GCSEs at grade 7 – 9.
Alternative Qualifications
While A-Levels are the primary qualifications mentioned, both Oxford and Cambridge accept a diverse range of international qualifications. Here are two of the most commonly accepted:
Advanced Highers
Advanced Highers are the primary qualification in Scotland and are similar to A-Levels. Here’s what you’ll need to achieve to get into Economics:
Oxford Economics Advanced Highers Requirements
AA/AAB. Mathematics isn’t specified as a requirement, but it would be preferable.
Cambridge Economics Advanced Highers Requirements
A1, A1, A2. Mathematics isn’t specified as a requirement, but it would be preferable.
International Baccalaureate
For international applicants, most national qualifications are accepted. However, the International Baccalaureate (IB) offers a standardised qualification recognised globally. Here are the typical required grades for Oxford and Cambridge:
Oxford Economics International Baccalaureate Requirements
39 with 766 at Higher Level. Mathematics isn’t specified as a requirement, but it would be preferable.
Cambridge Economics International Baccalaureate Requirements
41 – 42 with 776 at Higher Level. Mathematics isn’t specified as a requirement, but it would be preferable.
If you get your offer and meet these requirements, you’ll be accepted into your dream course! Let’s now look at what these two courses involve:
Oxford And Cambridge Economics Course Content
Oxford Economics Course Content
Degree: Economics and Management (BA)
Duration: 3 Years
90% of students who studied Economics & Management at Oxford were in work or doing further study 15 months after the course. Students will receive a BA upon completion and a credible degree on their CV. This is all due to the course content that they provide. Which is as follows:
Year 1
The first year consists of three modules, all of which are compulsory.
Introductory Economics: This module will give the students a wider understanding of economic methods and concepts. It will also include mathematical tools used in the economic environment along with fundamental algebra and calculus. It also includes both macro and microeconomics.
Financial Management: This module encompasses financial reporting and financial analysis of company accounts and management accounting.
General Management: The module will allow students to delve deeper into functional areas of management. Which will also be available as options papers in Years 2 and 3. The course begins with an overview of large businesses’ origins as well as how to think about technology, work organisation and context.
The first year comes to an end with Preliminary Examinations (prelims), once successfully completed, students can move into the Final Honours School (FHS).
Years 2 & 3
Before advancing to FHS, students are required to take courses for eight final papers, or seven papers and a thesis. A minimum of two options have to be from the Economics List, and at least two of the options have to be from the management list. The remaining four options can be selected from either department’s list of options.
As mentioned, you are required to offer a minimum of two optional papers in Management in your final examinations. Economics and Management lists are published each Trinity term. Usually in Week 4 Trinity Term, a survey is distributed amongst the 1st and 2nd year students to pick their management options.
Here is a brief list of subjects which are offered to 2nd and 3-year students:
- Accounting
- Technology and Operations Management
- Strategic Management
- Marketing
- Finance
- Organisational Behaviour Analysis
- Entrepreneurship and Innovation
- Global Business History
- Thesis in Management
Second Year Papers
You are required to choose a minimum of 2 papers in each:
Microeconomics
Macroeconomics
Quantitative Economics
Development of the World Economy since 1800
Third Year Papers
Econometrics
Economics of Developing Countries
Game Theory
Money and Banking
Thesis in Economics
You are also able to offer a 15,000 words thesis instead of the optional finals papers.
Cambridge Economics Course Content
Degree: Economics (BA) Hons
Duration: 3 Years
Year 1
The first year like all courses is more of an introduction to the subject and core knowledge is explored through five compulsory papers which are:
- Microeconomics
- Macroeconomics
- Quantitative Methods in Economics
- Political and Social Aspects of Economics
- British Economics History
It is through these papers in which you dwell deep into topics such as supply and demand, role of prices and markets, inflation, employment, monetary policy and more. The quantitative methods paper will cover mathematical and statistical techniques.
Year 2
Second year includes three compulsory papers:
- Microeconomics
- Macroeconomics
- Theory and Practice for Econometrics 1
You will also be required to take one compulsory paper from the list below:
- International Trade and Development
- Modern Societies
- Mathematics and Statistics for Economists
- Labour
- Modern State and Its Alternatives
- International Conflict, Order and Justice
- History and Philosophy of Economics
- World Depression in the Interwar Years
It is through these papers which you receive knowledge about key topics, analytical techniques in microeconomics and macroeconomics theory, as well as learn the IT skills necessary to undertake projects in applied economics.
Year 3
In the final year, you have to choose two compulsory papers, which are:
- Microeconomics Principles and Problems
- Macroeconomics Principles and Problems
You will also be taking two optional papers and writing a compulsory dissertation of 7,500 words. The optional papers can be on the topics listed below:
- Economic Theory and Analysis
- Political Economy
- Banking and Finance
- Public Economics
- The Economics of Developing Countries
- Industry
- Theory and Practice of Econometrics II
- Global Capitalism
- British and European Politics
The difference between the course content for both universities is quite clear, especially with the degree itself. Oxford offers students a BA in Economics and Management, whereas Cambridge offers a BA in just Economics, with Oxford allowing students to specialise in Management too. LSE is the only university which offers a BSc in Economics. So, when applying, do ask yourself, do you want to study a mixed degree or just Economics?
Some students chose to pick Cambridge over Oxford for Economics as they want to play to their strengths, which in the case of Cambridge is Maths. Economics at Cambridge is more mathematics-centric, so those who don’t necessarily want a business/management-oriented future choose Cambridge and vice versa.
Oxbridge Economics Teaching and Assessments
Oxford and Cambridge are known for their unique teaching styles in the UK, so let’s learn more about how they teach their students:
Oxford Teaching and Assessments
During the first year of your studies at Oxford, a typical week will include between four to six lectures, two tutorials and a class. The course is actually taught through lectures and tutorials, with the lectures being held at the Examination Schools on High Street. Due to the similarities in content, these will be run alongside the PPE course as well as History and Economics (HECO). The lectures will last approximately one hour. Two tutorials are held each week during your first year. Tutorials are a more “hands-on” approach; however, teaching styles may vary with different tutors.
A task is set beforehand, and it is the student’s responsibility to complete the work assigned. These are generally held so that the tutors can understand if the students have a grasp of the topic. The size of these tutorial groups is two to four students, which means it is intimate and the teacher is able to assess, provide feedback and discuss the topic in depth.
A task is set beforehand, and it is the student’s responsibility to complete the work assigned. These are generally held so that the tutors can understand if the students have a grasp of the topic. The size of these tutorial groups is two to four students, which means it is intimate and the teacher is able to assess, provide feedback and discuss the topic in depth.
Cambridge Teaching and Assessments
There are two elements to teaching in Cambridge. The faculty organises lecture courses for each paper, with the majority of papers having 32 to 40 hours of lectures on the topic. Supervisions are Oxford’s version of “tutorials”. These go hand in hand with the lectures. There are around 10 hours of supervisions per paper.
Prior to your supervision, the supervisor will assign you a task which you have to complete and demonstrate your grasp of the topic. These are typically highly interactive sessions where the supervisor will go through problems/essays, provide feedback, and answer your questions about the material.
Prior to your supervision, the supervisor will assign you a task which you have to complete and demonstrate your grasp of the topic. These are typically highly interactive sessions where the supervisor will go through problems/essays, provide feedback, and answer your questions about the material.
The main differences amongst the universities’ teaching and assessments can be found in their assessments. There are no formal examinations in your second year of Economics at Oxford; all final examinations will be held in your Trinity term of your third year, whereas Cambridge takes examinations each year, at the end of the term. Both universities offer intimate hour-long weekly sessions with world-leading experts in economics. Cambridge refers to them as “Supervisions” and Oxford call them “Tutorials”. You will receive plenty of hours at both universities to practice, research and develop your skills through supervisions or tutorials.
Extra-Curricular Economics Activities at Oxbridge
Oxford
There are 200 clubs to choose from at Oxford, one for every taste, hobby, and interest. These range from debating societies, rowing clubs, all the way to MBA tournaments.
In regard to Economic specific clubs, you could enrol on the:
- Oxford Business Network, a club where students exchange ideas relating to Finance, Entrepreneurship, Economics and Law.
- The most popular choice for students is the Oxford Economics Society, which is a society that seeks to promote and discuss academic literature and current economic affairs.
Cambridge
Similar to Oxford, the choice of clubs for students to choose from is vast. There are approximately 200 clubs, all ranging from the Advertising and Marketing Society all the way down to a 3D Printing Society. There is truly something for everyone!
- The Marshall Society dates back till 1927 and was founded by Alfred Marshall and is Cambridge Universities’ Economics Society. This society will enable you to partake in speaker events, exclusive socials and mentorship and networking.
- The CU Entrepreneur Society is a student run society which challenges students to run a three phase business plan and pits groups with each other.
As an overview, both universities provide their students with vast clubs and societies to choose from. Everyone will be able to find something of their interest comfortably. However, in regard to Economics, the Marshall Society of Cambridge is rated very highly and is well-esteemed.
Oxbridge Economics Starting Salaries
One of the lifelong benefits you will receive from studying at Oxbridge is that your CV will be highlighted amongst the other candidates. It will elevate your chances significantly. Without even considering employability, the substantial knowledge you will obtain from an Oxbridge education is something which will always set you apart from other candidates.
Around 90% of Oxford Economics graduates are pursuing a legal profession, which is classed as high-skilled work. As expected, they are within the finance profession, with some going into research and development. Some have decided to stay on for further education or specialisation.
Cambridge differs especially when it comes to the starting salary. After 15 months from graduation, students have been recorded earning around £50,000, with it growing to £67,000. When it comes to applying, it is important to ask yourself how important starting salaries are for you, and which type of profession you wish to dive into after graduation.
Final Thoughts
Deciding between these excellent universities is a difficult mission, however throughout this article, we have compared the main differences between the application processes, the way their teaching styles and assessments, the extracurricular activities, as well as the employability for each university.
- For both universities, you will receive a BA. However, it is important to ask yourself do you wish to study a predominantly Economics degree or a mixed degree. Since you will be receiving a BA for both. It is important to consider if you want a BA degree or a BSc. LSE is the only university which offers a BSc Economics degree. Students should also ask themselves if they wish to study Mathematics deeper within their course as Cambridge will be the right pick for them.
- Admissions tests are also a factor when finalising their decision. This is because Cambridge requires a TMUA, and Oxford requires the TSA.
- For the social students who want to make the most of their university experience and academic studies, societies will also play a huge part when picking their university. With the same number of clubs and societies to join and with both universities offering a fantastic Economics Society, it is fair to say they both will provide you with an amazing wider understanding of the topic as well as the ability to network and socialize.
- For the students who want to gain a huge head start in their professional careers, the starting salaries is also something to consider. Cambridge students have found positions offering them a starting salary of £28,000 whereas Oxford students are receiving £35,000.
As an overview, ask yourself the relevant questions, what matters to you as a student and what do you wish to achieve within the course and then out of the course when you do graduate.
If you would like to explore what a career in Economics involves and if it is the right fit for you, check out our article Deciding on a career in Economics – we explore the key things to consider – from academic choices to career prospects – so you can make an informed decision about pursuing a future in Economics.
This guide has given you an in-depth look at the differences between Oxford and Cambridge’s Economics courses, but there is more to consider than just that. You will be spending multiple years living at your chosen university, so you’ve got to make sure you pick the option that seems most appealing to you. If you want to learn more about the Oxbridge campuses, teaching styles, extra-curricular activities and more, then check out our definitive guide to Oxford Vs Cambridge.
Whatever your decision, we will help you achieve your Oxbridge Economics dreams.
We help you craft the perfect Economics Personal Statement, achieve a highly competitive Admissions Test score on the TSA or TMUA and teach you how to Interview effectively – covering all areas of your Oxbridge Economics application.
Discover our Oxbridge Economics Full-Blue Programme by clicking the button below to enrol and triple your chances of success.
