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Economics and Finance

Economics is a social science concerned with the production, distribution and consumption of goods and services. Modern economics is a broad discipline that links almost all aspects of human behaviour and interactions, from running a business and purchasing stock to getting married and taking a job.

Finance is the study of managing available funds, including saving and lending money, cash at hand and risk. It includes areas of personal, corporate or public finance relating to incomes, expenditure, debts, loans, balancing risk, profitability and value of stock.

The courses at St Andrews provide structured, cumulative and rigorous explorations of key concepts, principles, analysis, techniques and knowledge.



Economics BSc (Hons)
Economics MA (Hons)
Economics BA (International Hons)
Financial Economics BSc (Hons)
Financial Economics MA (Hons)

Joint degree options

You can take Economics BSc (Hons) and Economics MA (Hons) with another subject as part of a joint degree or a "with" degree.



Economics MSc
Finance and Economics MSc
Finance MSc
Money, Banking and Finance MSc


Please contact a supervisor in your research area to inquire about PhD opportunities.

Visit St Andrews

If you are interested in studying at St Andrews, join us at an open day to explore the town, find out about our courses and meet current students.


Booking for our autumn visiting days will open in early September 2017.

  • Wednesday 27 September 2017
  • Wednesday 4 October 2017
  • Wednesday 18 October 2017
  • Wednesday 25 October 2017
  • Wednesday 1 November 2017



  • November 2017 - date to be confirmed.

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Latest in Economics and Finance at St Andrews

More than 80% of the research output by staff in the School of Economics and Finance has been rated as internationally excellent or world leading in the recent Research Excellence Framework 2014.


Economics and Finance research areas

The School of Economics and Finance undertakes high-quality research in a variety of topics such as dynamic macroeconomics, choice theory, bounded rationality, game theory, expectations and learning, competition and innovation and climate change.

Research within the School of Economics and Finance is grouped into four main themes:

Applied theory, decision theory and game theory

The following members of staff are currently undertaking research in applied theory, decision theory and game theory.

  • Dr Luc Bridet: behavioural economic theory; economics of education; economics of experimentation; mechanism design and contract theory.
  • Dr Tugce Cuhadaroglu: behavioural economics; bounded rationality; decision theory; economics of inequality; social choice and welfare.
  • Dr Georgios Gerasimou: behavioural economic theory; choice theory.
  • Dr Jim Jin: industrial economics and comparative economics, including firm and industry study, market performance, competition policy and country comparisons.
  • Professor Paola Manzini: bargaining; choice theory; bounded rationality; economic theory; experimental economics; game theory; microeconomics.
  • Dr Margherita Negri: game theory; microeconomics; political economics.
  • Dr Kemal Ozbek: decision theory.
  • Dr Matt Polisson: developing methods and implementing procedures that involve taking economic theory to microdata in both observational and experimental settings.
  • Professor Clara Ponsati: bargaining; mechanism design; game theory; microeconomics; public economics and political economy.
  • Dr Ian Smith: household behaviour, especially the economics of the family and religion.
  • Professor David Ulph: design of social benefits systems; economics of climate change; economics of innovation; enforcement of competition and regulation policy.
  • Dr Min Zhang: industrial organisation; microeconomic theory; social learning.

Empirical economics and econometrics

The following members of staff are currently undertaking research into the areas of empirical economics and econometrics:

  • Dr Margaret Leighton: development economics; education economics; labour economics.
  • Dr Manfredi La Manna: economics of optimal organisation; economics of regulation; industrial organisation (especially oligopoly theory, economics of R and D, research joint ventures, and patents).
  • Professor Rod McCrorie: econometrics (theoretical and applied); financial econometrics; time series analysis.
  • Dr Irina Merkurieva: labour economics; life cycle modelling; numerical methods; public economics; retirement; search theory.
  • Dr Galip Kemal Ozhan: international finance, macroeconomics, monetary economics.
  • Dr Katerina Petrova: econometrics; macroeconometrics; DSGE and VAR models; Bayesian methods; Markov Chain Monte Carlo algorithms.
  • Dr Luca Savorelli: economics of innovation; health economics; industrial organisation.
  • Dr Vibhor Saxena: inequality, discrimination, demography, and applied microeconometrics.


The following members of staff are currently undertaking research into the areas of finance:

  • Dr Leonidas Barbopoulos: asset pricing; corporate finance; foreign direct investments; mergers and acquisitions; time series econometrics.
  • Loran Chollete: applied statistics and econometrics; CEO compensation; decision making under uncertainty; extreme events and macro finance and central bank policy.
  • Dr Peter Macmillan: European monetary union; term structure of interest rates.
  • Dr Guangyao Zhu: corporate governance; financial econometrics.

Macro and international economics

The following members of staff are currently undertaking research into the areas of macro and international economics:

  • Dr Sebastian Braun: labour economics; international economics; economic history.
  • Paul Egan: macroeconomics; international finance; economics of transition; Chinese economic development; monetary policy in China.
  • Dr Oliver de Groot: business cycles; macroeconomics; monetary economics; macro-finance and computational methods.
  • Dr Gosia Mitka: international macroeconomics: policy coordination; monetary, macro-prudential and trade policy; welfare.
  • Dr Vivek Prasad: macroeconomics; dynamic stochastic general equilibrium models with financial frictions; financial shocks; fiscal policy; quantitative easing.
  • Dr Ozge Senay: dynamic general equilibrium models with imperfect competition and nominal rigidities in understanding macroeconomic policy questions; exchange rate regime choice; monetary economics; open economy macroeconomics.
  • Professor Alan Sutherland: monetary policy; open economy macroeconomics; international macroeconomics; exchange rate policy; international financial markets.
  • Dr Radek Stefanski: environmental economics; growth and development; international trade; natural resource economics; structural transformation.
  • Dr Alex Trew: economic growth; financial development; institutions.

Economics research centres

The School of Economics and Finance currently has one research centre:

The Centre for Dynamic Macroeconomic Analysis (CDMA)
The CDMA aims to foster research in dynamic macroeconomics and has a programme of research centred on macroeconomic theory and policy.

Economics research portal

Funding opportunities

There is a range of funding opportunities available at all levels of study.


The BA International Honours Scholarship is available to students entering first year of the BA International Honours programme in Economics and Finance. 

Undergraduate scholarships

Postgraduate students

The University of St Andrews offers a range of postgraduate funding opportunities.

Postgraduate taught scholarships

PhD students

The Economic and Social Research Council supports research relevant to business, the public sector and voluntary organisations, and provides awards which cover tuition and maintenance fees (for those meeting the eligibility criteria).

Funding for PhD students

Careers for graduates in Economics and Finance

Economics and Finance courses at St Andrews aim to prepare you for careers in academia, business, government and international organisations.

Graduates in Economics and Finance work in a wide variety of challenging and rewarding posts located in the UK, Europe, North America and further afield in locations such as China, Taiwan, Hong Kong, Japan and Thailand.

Popular career choices amongst recent graduates include:

  • fund management
  • investment
  • commercial and international banking
  • accountancy
  • consultancy
  • management in the industrial and commercial sectors
  • stockbroking
  • banking
  • civil service
  • university research and teaching
  • media.

Economics and Finance graduates from St Andrews have secured positions in renowned financial institutions including:

  • Accenture
  • Ernst & Young
  • JP Morgan
  • Barclays Capital
  • PriceWaterhouseCoopers
  • HSBC
  • Lloyds.

See recent graduate employment case studies.

Work experience

Work experience is invaluable when it comes to securing graduate-level employment. There are a number of Finance-specific opportunities at St Andrews for students to gain work experience:


University league tables

Economics at St Andrews was ranked first in Scotland and sixth in the UK in the Complete University Guide 2017 and The Times and Sunday Times University Guide 2017.


School of Economics and Finance
University of St Andrews
The Scores
St Andrews
KY16 9AR

Phone: +44 (0)1334 46 2439 

Economics website Economics research portal