Students are increasingly opting for A-levels in more financially promising fields, as evidenced by Economics breaking into the top five most popular subjects for the first time, according to recent data.
This summer, 46,365 students are completing their A-levels in Economics, ranking it fifth in popularity behind Maths, Psychology, Biology, and Chemistry.
Economics A-level entries have surged by 11% compared to last year when it held the eighth spot, and have risen by 41% since 2021, when it was ranked 11th.
Back in 2014, when this data collection started, Economics was the 13th most popular A-level subject.
Conversely, only 32,890 students have enrolled in English Literature A-levels, marking a 6% decrease from last year, while 40,015 students chose Art and Design, showing a 1% drop.
These subjects have now fallen to 11th and 10th in popularity, respectively, from their previous ranks of 9th and 7th in 2021.
The data is from regulator Ofqual, which publishes entries for exams by subject every year.
It comes after a damning report yesterday revealed graduates of Art and English degrees have some of the lowest average earnings – while Economics graduates have some of the highest.
Pupils are shunning arts A-levels in favour of more lucrative subjects, as new data shows Economics is in the top five most popular for the first time (file picture)
Peter Watkins, of CFA Institute, a society for investment professionals, said: ‘Economics entering the top five A-level subjects is a significant signal about how young people are thinking about the world of work and the skills they will need to succeed.
‘Economics teaches students to understand choice, scarcity, incentives and trade-offs, all ideas that sit at the heart of how capital is raised, invested and allocated.
‘That young people are keen to develop their economic literacy suggests they see finance as a stable, resilient and long-term career choice.’
The data also showed business studies is now ranked the sixth most popular – its highest ranking on record – following a 4 per cent rise to 43,395.
Meanwhile, at the other end of the scale, Drama suffered a 10 per cent drop to 6,710 entries, and Music suffered a 5 per cent drop to 4,635 entries.
These are now ranked 25th and 29th respectively in terms of popularity.
In addition, GCSE entries for the ‘tough’ subjects of the English Baccalaureate (EBacc) have risen this year by 0.9 per cent.
The EBacc is made up of English, maths, science, a humanities subject and a language – and is favoured by universities.
Yesterday, a report by think tank Policy Exchange revealed half of all graduates are earning less than the median national wage five years after leaving university.
However, Economics graduates are the second-highest earning after Medicine and Dentistry, with median earnings of £50,400 after five years.
In contrast, Performing Arts had the worst median earnings of £24,500, followed by Creative Arts and Design at £25,600.
Meanwhile, graduates of English degrees were only earning £28,800, putting this subject in the bottom third of subjects for earnings.
Data on graduate earnings by subject has only been available to pupils since the then Tory Government started publishing it in 2017.
It is thought some of the changes in subject choices may be down to greater awareness of earning potential.
