Economics (MSc) 2023 entry

The MSc in Economics provides advanced, rigorous training in essential elements of economics – microeconomics, macroeconomics and econometrics – plus a range of specialist options covering theoretical and empirical approaches that reflect the interests of the staff in the School.

Start date
September 2023
End date
September 2024
Duration
One year full time
School
School of Economics and Finance

Application deadline

Thursday 10 August 2023

Applicants should apply as early as possible to be eligible for certain scholarships and for international visa purposes.

Entry requirements

  • A 2.1 degree classification from a recognised UK university in Economics or a 2.1 joint Honours in Economics and another subject that includes substantial training in mathematics, statistics, microeconomics, macroeconomics and econometrics. If you studied your first degree outside the UK, see the international entry requirements.
  • English language proficiency. See English language tests and qualifications.

The qualifications listed are indicative minimum requirements for entry. Some academic Schools will ask applicants to achieve significantly higher marks than the minimum. Obtaining the listed entry requirements will not guarantee you a place, as the University considers all aspects of every application including, where applicable, the writing sample, personal statement, and supporting documents.

Application requirements

  • CV or résumé 
  • either a detailed personal statement including a list of current modules being undertaken (1,000 words) or a sample of your own, single-authored academic written work (2,000 words) 
  • two original signed academic references 
  • academic transcripts and degree certificates  

For more guidance, see supporting documents and references for postgraduate taught programmes.

English language proficiency

If English is not your first language, you may need to provide an English language test score to evidence your English language ability. See approved English language tests and scores for this course.

Course details

The MSc in Economics is a one year taught postgraduate programme run by the School of Economics and Finance. 

Highlights 

  • You will learn the theoretical and empirical tools required to understand the increasingly complex and rapidly changing economy. 
  • Small group teaching allows a high level of student-teacher interaction, encouraging a warm and friendly learning environment.  
  • Supplementary lectures in mathematical and statistical methods are available at the beginning of the course.  
  • The programme focus is to provide a self-contained, rigorous but relevant learning experience that prepares you either to start employment at a senior level in a wide variety of economics-related activities, or to pursue further research.  

Modules

Modules 

Each compulsory module typically comprises: 

  • 20 lecture contact hours 
  • 10 contact hours for seminars, workshops and tutorials  
  • intensive independent study. 

For more details about each module, including weekly contact hours, teaching methods and assessment, please see the latest module catalogue, which is for the 2022-2023 academic year; some elements may be subject to change for 2023 entry. 

You must take three compulsory modules in the first semester. These are: 

  • Econometric Methods and Applications: advanced level training in econometric methods.
  • Macroeconomics: advanced treatment of the core models and concepts used in modern macroeconomics. 
  • Microeconomics: advanced treatment of the core models and concepts used in modern microeconomics. 

In your second semester, you will have the opportunity to choose three modules from a selection of topics. 

Examples of optional modules that may be available include: 

  • Behavioural Finance: examines the effects of behavioural biases in financial markets.  "
  • Causal Inference in Econometrics: teaches cutting-edge econometric methods used in many empirical economics fields to establish plausibly causal estimates of phenomena like the minimum wage or the impact of immigration.
  • Econometric Time Series Analysis: provides an advanced treatment of the core theory and practice of time series econometrics.
  • Experimental Economics and Finance: focuses on the methodology of experimental economics and the dialogue between theoretical and laboratory-based empirical work.
  • Game Theory: provides a thorough advanced treatment of the core models and concepts used in modern game theory.  
  • Industrial Economics: focuses on the structure and mechanisms governing markets and on the way firms compete against each other in the pursuit of profit maximisation. 
  • Monetary Policy: studies key issues in monetary policy. 
  • Portfolio Management: studies key issues in asset allocation, and portfolio composition and management at an advanced level. 

MSc Economics students may take up to one advanced undergraduate optional module from the following in the second semester: 

  • Behavioural Economics: Individual Decisions and Welfare 
  • Development Economics
  • Econometrics of Impact Evaluation 

The topics, and therefore module titles, vary year on year as they reflect staff research interests. Optional modules are subject to change each year and require a minimum number of participants to be offered; some may only allow limited numbers of students (see the University’s position on curriculum development) 

The final element of the MSc is a 15,000-word dissertation. The dissertation should be on an area of economics that you are interested in, and chosen in discussion with your supervisor who will support you through the process.  

You will receive training in framing a hypothesis, conducting bibliographic research, writing a literature survey, and structuring a dissertation. 

The modules listed here are indicative, and there is no guarantee they will run for 2023 entry. Take a look at the most up-to-date modules in the module catalogue.

Teaching

The programme consists of traditional lectures, as well as tutorials, seminars and computer lab work in small groups.

You will also complete a 15,000-word dissertation on a topic of your choice which is relevant and appropriate to the MSc.   

Courses are assessed both continuously and with end-of-semester exams. 

Every MSc student is assigned an adviser at the beginning of the year. Your adviser will provide you with individual guidance on module choice and academic conduct.

Fees

Home
£11,120

Overseas
£23,530

More information on tuition fees can be found on the postgraduate fees and funding page.

Funding and scholarships

The University of St Andrews is committed to attracting the very best students, regardless of financial circumstances. Find out more about the scholarships and postgraduate loans available.

Scholarships for MSc in Economics 


The School of Economics and Finance will award up to two £5,000 scholarships to selected successful applicants for its MSc in Economics programme with entry in September 2023. 

All taught postgraduate scholarships

After your degree

Careers

There is a long-standing tradition of Economics graduates working in a wide variety of challenging and rewarding posts including: 

  • academia 
  • banking 
  • commerce 
  • diplomatic service 
  • economics 
  • finance 
  • government 
  • industry 
  • insurance. 

They work in the UK, Europe, and North America, and more frequently in locations such as China, Taiwan, Hong Kong, Japan and Thailand. 

The Careers Centre offers one-to-one advice to all students as well as a programme of events to assist students in building their employability skills.

Postgraduate research

What to do next

Online information events

Join us for one of our information events where you can find out about different levels of study and specific courses we run. There are also sessions available for parents and college counsellors.

Postgraduate virtual days

We encourage all students who are thinking of applying to the University to attend one of our online visiting days.

Contact us

Phone
+44 (0)1334 46 2439
Email
econpgtapps@st-andrews.ac.uk
Address
School of Economics and Finance
Castlecliffe
The Scores
St Andrews
KY16 9AR

School of Economics and Finance website