MSc Economics

This programme is intended to equip you with the main tools of the professional economist, whether you intend to work in government, central banking, international organisations or private sector firms such as economic consultancies.

The advanced and technically rigorous nature of the programme also serves as an excellent foundation for PhD programmes and other research-focused roles.

The one-year route is for students with a strong undergraduate degree in economics and a solid quantitative background, while the two-year route is designed for students who have a sound quantitative background but lack the necessary economic theory and knowledge in quantitative techniques for the one-year route.

The degree concentrates on the core elements of economic theory, macroeconomics and econometrics. The extensive use of mathematics is intended as a tool in order to facilitate analysis, with the primary objective of the programme being the provision of a formal training in - and in-depth understanding of - core economic models and methods.

Entry Requirements:

• Minimum entry requirements for MSc Economics
• First class honours degree in economics or equivalent with concentration in economics and quantitative subjects. Successful candidates will typically have achieved very good examination results in university-level two-semester length courses in [a] mathematics (both advanced calculus and linear algebra), [b] econometrics and statistics, [c] intermediate macro and microeconomics.
• If your first degree is not in economics, you should apply to take the MSc Economics  (2 year) programme. Candidates with a technical degree and a strong quantitative background might wish to consider applying to MSc Econometrics and Mathematical Economics. 
• Competition for places at the School is high. This means that even if you meet our minimum entry requirements, this does not guarantee you an offer of admission.
• If you have studied or are studying outside of the UK then please have a look at our Information for International Students to find out the entry requirements that apply to you.
• GRE/GMAT requirement
• GRE is required for applicants without a UK undergraduate degree in economics. This must be no more than five years old on 1 October 2024, and must include full and percentile test scores for all three sections.
• We do not require a specific mark but the test gives us an indication of aptitude for economics. Typically we expect candidates to score at least 161 in the quantitative section of the test. A higher score will count in your favour, but other information, such as examination results and references will also matter in the overall evaluation. We recognise that if your first language is not English, the verbal test will be more demanding and we view your score on that basis.

Programme Structure And Courses:

• This programme comprises 10 months of full-time study. You will attend an initial course known as Introductory Course in Mathematics and Statistics (before the main teaching programme starts) in late August 2024. This course includes reviews concepts in optimization, fixed point theory, dynamic programming and optimal control, and in probability and statistics, amongst other topics.
• You will take three compulsory courses, an elective course and an extended essay linked to the elective course during the main teaching programme. 
• Please note: ten-month master's programmes are not compliant with the Bologna process, which may affect the extent to which they are 'recognised'. For more information, see Bologna process.
• Macroeconomics 
• Focuses on core models of growth and business cycle fluctuations, drawing on developments at the frontiers of research.
• Either: Microeconomics
• Focuses on classical theories of choice, general equilibrium, game theory, information economics as well as their applications from industrial organization to political economy. The relationship to new developments in behavioural economics and other fields will also be discussed. 
• Or (with permission)
• Advanced Microeconomics
• Gives more emphasis to mathematical methods following a proof-based approach, and provides a firmer grounding in classical microeconomic theory while also discussing recent developments in economic theory.
• Econometrics 
• Presents modern, technical tools for empirical analysis in economics, for cross section, time series and panel data; focusing on the properties of different estimation models as well as illustrating the use of these techniques in practical problems.