The Cambridge Economics degree is a BA - I imagine most employers are satisfied with this. In general the degree name (i.e. BA/BSc) has very bearing on the content - some universities use it to differentiate between degrees where one has more quantitative content, while others simply allow students to decide which one they graduate with. Look at the actual course content and determine for yourself which is most appropriate. Languages can be very valuable for some roles, and are in general less common from UK students to an appreciable level of proficiency, so it is something that does stand out a little on a CV. Whether this would necessarily make a difference in getting a graduate job, I can't say.
As for the relative worth of Essex, it's impossible to really say without understanding the broader context of the courses you're looking at. Compared with the aforementioned example of Cambridge, it's clearly worse - as are most universities in the country for that matter. Compared other universities, it fares reasonably to very well. In general they've been improving their programmes and research output for a number of years, and so my general impression is they are "improving" which is better than some other universities both "above" and "below" it which are stagnating or outright worsening. How valuable that may end up being in the coming decades is hard to say. I don't know anything about their Economics course specifically however.