Top 10 International Scholarships to Study Economics

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In this post, we compiled the top 10 international scholarships to study Economics in 2021. The scholarship gives you an opportunity to study in some of the most prestigious universities in the UK, Australia, France, China etc.

The scholarships are awarded by government agencies, private foundations and enable students from developing countries to study Economics in various Institutions, which the scholarship sponsors have organized.

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Here are some of the top scholarships to study Economics abroad.

  1. Great Wall Programme, China

One of the leading scholarships in China, the Great Wall Programme, gives international students from developing countries the chance to study in China for one year at any degree level. It covers tuition fees, accommodation, a monthly living allowance, health insurance and international travel costs.

  1. DAAD Scholarships, Germany

The most esteemed scholarship programme in Germany, the German Academic Exchange Service (DAAD) Scholarships, are available across an extensive number of graduate and postgraduate courses. The scholarship covers tuition fees, travel and health costs, and a monthly living allowance – though this varies between each of the scholarships offered. The criteria and application process largely depends on the scholarship you’re applying to. Given the breadth of scholarships on offer, you stand a good chance of securing one; in fact, there have been over 50,000 awarded to date.

  1. Swiss Excellence Scholarships for Foreign Students, Switzerland

Run by the Swiss government, the Swiss Excellence Scholarships are available to international students from over 180 countries so that they can pursue a postgraduate degree in any field at a university in Switzerland. The scheme covers tuition fees, health insurance, airfares and a monthly living allowance. It’s worth pointing out that the types of scholarship differ depending on the country you’re in, as do the eligibility criteria and application process.

  1. Eiffel Excellence Scholarship Programme, France

The most noteworthy scholarship in France is the Eiffel Excellence Scholarship scheme, which aims to attract outstanding international students to study for a master’s or PhD degree at one of the participating universities. Unlike the others on this list, the scheme does not cover tuition fees. Instead, it provides recipients with a monthly allowance (€1,181 for master’s students and €1,400 for PhD students) and covers various other costs, including travel expenses and health insurance. You apply via the Campus France website. Keep in mind that it’s only available in the following main fields of study: engineering science/science, economics and management, and law and political sciences.

  1. Australian Awards Scholarships, Australia

Another highly coveted Australian scholarship, the Australian Awards, are for international students seeking either full-time undergraduate or postgraduate study. Typically, the scholarship covers full tuition fees, return air travel costs, contribution to living expenses and health insurance.

Check out the official website. Criteria-wise, you need to be from Asia, the Pacific, the Middle East and Africa (see here for the list of participating countries). You should also know that after finishing your course, you’re required to return to your home country.

  1. Endeavour Postgraduate Awards, Australia

One of Australia’s most prominent scholarships, the Endeavour Postgraduate Awards are aimed at international students from the Americas, Europe, the Caribbean, Middle East, Asia and the Pacific to undertake a master’s or PhD degree in any field at one of the country’s universities. It provides full financial assistance, including tuition fees, a travel allowance, monthly living allowance, health insurance and travel insurance (up to $272,500 for tuition, $3000 per month for living costs and up to $7000 for initial travel and relocating costs).

 It’s worth mentioning that as part of the application process, you’ll need to submit a formal admission letter from your Australian university of choice. There’s no specified number of scholarships awarded each year, but 4,306 have been granted to international students since 2007.

  1. Rhodes Scholarships, UK

One of the oldest scholarships in the world (as well as one of the best), the Rhodes Scholarships scheme gives international students the chance to study for a postgraduate degree at the world-renowned University of Oxford. It is available to students from the following countries: Australia, Bermuda, Canada, Germany, Hong Kong, India, Jamaica & the Commonwealth Caribbean, Kenya, New Zealand, Pakistan, Southern Africa, USA, Zambia and Zimbabwe. The scheme covers all tuition fees, along with a living allowance and economy class return airfare.

Each country has its own application page on the official website. In terms of the criteria, the selection is based on academic performance, extracurricular achievements, and evidence of leadership and humanitarian qualities. Just 95 scholarships are awarded each year, so it’s fair to say that competition for places is fierce.

  1. Chevening Scholarships, UK

The Chevening Scholarships scheme is run by the UK government and regarded as one of the country’s most prestigious. Granted to students with outstanding credentials and leadership potential, the scholarship is typically for a one-year master’s degree and covers tuition fees, a living allowance, a return airfare to the UK and any other essential costs.

Around 700 scholarships are given to students from about 110 countries every year, but the number of scholarships varies depending on the country. India and China are key countries for the Award, with over 30 scholarships for these two countries alone.

There’s an extensive list of criteria you need to meet; applicants need to have an undergraduate degree, at least two years’ work experience in their chosen field and possess a strong grasp of the English language. What’s more, students are expected to return to their own country for a minimum of two years afterwards. There are around 1,500 Chevening Scholarships awarded each year, spanning 144 eligible countries.

  1. Rotary Peace Fellowship (various countries)

The Rotary Peace Fellowship is aimed at international graduates who want to undertake a master’s degree in fields related to peace and conflict prevention and resolution. The scholarship covers costs like tuition fees, accommodation and travel costs. Several universities across the world participate in the scheme. These are:

  • Duke University, USA
  • University of North Carolina at Chapel Hill, USA
  • International Christian University, Japan
  • University of Bradford, England
  • University of Queensland, Australia
  • Uppsala University, Sweden

The application process includes submitting your CV, a personal statement, transcripts, recommendations and test scores. In terms of the criteria, you need to have a bachelor’s degree with three years of relevant work experience (either paid or unpaid) under your belt. You also need to display evidence of your leadership skills, while proficiency in a second language is desirable.

  1. Fulbright Foreign Student Programme, US

If you’re looking to study in the US, few scholarships are more sought after than the Fulbright Foreign Student Programme. Available to international graduates and young professionals, the scheme has ties with over 155 countries worldwide and awards full funding for the duration of your studies – including tuition, airfare, textbooks, health insurance and a living allowance.

The programme is designed to support postgraduate international students in the US and to help them have cultural and educational opportunities during and beyond this first year. The prestige of the scholarship also helps with future prospects, as the competitive nature of the application process means only the very best students become Fulbrighters.

Head to the official website, and you’ll be asked to select your country from a long list of options. You’re asked to do this because the available grants and application procedures differ depending on your location. You may, for example, have to submit a personal statement, a list of your previous grades or an English language test. Although it’s a popular scheme, rest assured that there are plenty of places on offer (around 4,000 students receive scholarships every year).

Recommended Video: Top 15 Fully Funded Scholarships for International Students

How to get a full Economics scholarship

Full scholarships (also called full-ride scholarships) are the holy grail of funding opportunities, covering almost everything for the full three or four years of university. Your tuition and living costs will be covered by the provider, leaving you free to focus on your studies and social life without worrying about money. Sounds great, right?

Sadly, there just aren’t too many of these dream scholarships going around. Full scholarships are rare, and those that are available are very competitive. However, that doesn’t mean you shouldn’t apply for them – read on to discover how to increase your chances of being awarded one of these prestigious scholarships.

  • Know where to look

First things first, where do you actually go to find full scholarships? Your first port of call should be your chosen university’s official website, as they may offer their own funding opportunities for students from your location or in your subject, or possibly list external scholarships you could apply to.

As well as your university, you could check sites like afterschoolafrica, which lists funding opportunities in different study destinations, scholarships focused on particular subjects and scholarships aimed at particular student groups (e.g. African students).

  • Read the application instructions carefully

This may seem extremely obvious, but you don’t want to drop your chances by accidentally missing out on a document or piece of information that was stipulated in the scholarship’s application instructions. Be sure to read the application guidance carefully and repeatedly, so you’re less likely to miss anything, and email the provider if you need clarification on anything.

  • Submit an exceptional scholarship essay or cover letter

Another one that goes without saying, but your application essay/cover letter needs to be the best quality it can possibly be absolutely. This means making sure it’s clear and concise, is formatted correctly, grabs the reader with a strong introduction, stays focused on its key theme or topic, and has flawless spelling and grammar. Don’t just rely on proofreading it hundreds of times to make sure it’s perfect – ask a friend to go over it and check for typos and any sentences that don’t read as well as they could do.

Here we have them- The Top 10 International scholarships to study Economics. Feel free to visit their official websites for more details about each scholarship.