MSc Economics

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We offer a suite of MSc programmes to suit a wide array of needs. Our Academic and Professional Programme is for those who are looking for an intensive research-led training focus, while our Applied Training degrees are appropriate for graduates with a limited economics background who are looking to develop specialist expertise.

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Key facts

(REF 2014)

Equip yourself to become a professional economist with this Master’s degree in economics – a broad-based research-training course designed to provide you with an opportunity to develop theoretical and quantitative skills.

With compulsory modules covering economic theory and econometrics, as well as options in a number of areas including development economics, environmental economics and finance, our MSc Economics course is ideal if you’d like to pursue a career in government, financial institutions, business, commerce, international agencies and other similar organisations. It’s also an excellent step towards studying a PhD in the field.

Overview

MSc Economics is part of our Academic and Professional Programme – designed for people who want to pursue a career as a professional economist within government and industry or move into PhD study.

It’s ideal for you if you’ve already studied economics and are looking for intensive research-led training in advanced economic theory, econometrics and research methods. You should have a good undergraduate degree (equivalent to a 2:1 or 1st) with a substantial component of economics, or a graduate diploma in economics.

The core, compulsory component of the degree consists of taught modules in economic theory and econometrics. In addition to these, you can choose options from a range of modules including Behavioural and Experimental Economics, Finance, Industrial Organisation and Competition Economics, and Development Economics.

You will also write a dissertation towards the end of your 12 months with us. You’re free to choose your own dissertation topic, and will be supported and supervised by a member of the School of Economics.

We also offer additional support to help you get the most from your Master’s. This includes an optional, intensive pre-sessional course in the fortnight before your programme begins in September. This courseincorporates the techniques of calculus and matrix algebra and an introduction to the specialist econometric software that you will use in your MSc programme. While not compulsory, we strongly recommend you take advantage of this fantastic opportunity.

Course Structure

The MSc Economics is a one-year course. In each semester you will take three modules, followed by writing your dissertation in the period between June and August.

In your autumn semester you will take Economic Theory I, Econometric Theory, and an optional module. In spring you will take Economic Theory II, Applied Econometrics, and another optional module.

You can choose from a wide range of optional modules including Behavioural and Experimental Economics I and II, Industrial Organisation and Competition Economics, Empirical Industrial Organisation and Competition Policy, Finance, Financial Mathematics, International Finance, Microeconomics of Development, Macroeconomics of Development, Environmental and Natural Resource Economics.

Although you will write your dissertation between June and August, you will begin your dissertation module with a sequence of dissertation training lectures and workshops in spring. Here you will discover how to choose a topic, how to access data and search literature and how to analyse quantitative data.

You will be able to take advantage of further dissertation training workshops in late June and early July. These will be held in computer labs, with the objective of providing the types of econometric skills often required in dissertation research.

Teaching and Learning

UEA’s School of Economics is lively, friendly, research-orientated and committed to excellence in teaching. We have an international reputation in many key areas, including theoretical and applied economics. Our research interests include behavioural economics, competition economics, environmental policy, conflict, contests and corporate behaviour, and finance and financial markets.

Teaching of each of your modules will be spread over two semesters. In a typical module, you will have 2 hours of lectures and one hour of seminars per week. Your seminars are more interactive than lectures and provide you with an opportunity to raise questions arising from lectures.

In your econometric modules, your seminars will take place in computer labs, where you will learn how to conduct econometric analysis using specialist econometric software.

You will also become practiced in independent study, spending time working on coursework assignments, preparing for seminars, and doing your own wider reading.

Assessment

Your modules will typically be assessed by a combination of coursework and examinations. Your exams will be two hours long and will take place during the summer assessment period.

Your coursework will be in a variety of forms – including take-home assignments, seminar presentations, written tests, computer tests and your dissertation (which you will submit at the end of August).

Throughout your course you will be given guidance on your work and constructive feedback to help you improve. You will receive written feedback for all pieces of coursework and further guidance will be available from your module’s organisers.

If you have additional needs due to disabilities such as sensory impairment or learning difficulties such as dyslexia please talk to our Student Support Service about how we can help.

After the course

Upon completing this MSc, you can pursue a variety of careers as a professional economist in government, industry, international agencies and other similar organisations.

Past graduates from the School of Economics have gone on to work for HM Treasury, the Home Office, Bank of England, Aviva, Barclays, M+A Partners, BDO, Deloitte, Ernst and Young, Goldman Sachs, Grant Thornton, HSBC, JP Morgan, KPMG, Lloyds, PwC and Santander amongst others.

You will also be well qualified to enter a PhD programme with a view to continuing to an academic career. Several of our former PhD students now hold academic posts as lecturers in university departments both in the UK and overseas.

Career destinations

  • Government agencies
  • Economic consultant
  • Bank of England
  • Deloitte
  • International organisations
  • PhD study

Course related costs

Please see Additional Course Fees for details of additional course-related costs.

Course Modules 2019/0

Students must study the following modules for 140 credits:

Name Code Credits

APPLIED ECONOMETRICS

This module builds on econometrics material covered in earlier modules and is divided into two parts: 1) Time series methods (including ARIMA modelling, stationarity testing, ARCH/GARCH models, Volatility Spillover, VARs , Cointegration and VECMs) 2) Microeconometrics (including panel data methods, and models for binary response variables) There is an emphasis on the practical application of common estimation techniques, with the specialist econometric software package Stata used extensively.

ECO-7001B

20

ECONOMETRIC THEORY

Explore various theoretical aspects within the linear regression framework using matrix algebra and complemented by simulations and applications. The econometrics package Stata is used throughout. As well as reviewing fundamental concepts in Econometrics, you'll examine the multiple linear regression model (MLR), focusing on the theory of estimation and inference. Other important issues within this framework are also discussed, such as partitioned regression, model misspecification and linear models that incorporate nonlinearities. You'll analyse the consequences of having non-spherical errors, focusing on the problem of heteroscedasticity, and consider the consequences of endogeneity, examining the instrumental variable approach as the main strategy for dealing with this problem.

ECO-7002A

20

ECONOMIC THEORY I

This is an advanced module in microeconomic theory, designed for postgraduate students with a strong background in economics. The topics covered in this module include the duality approach to demand theory, firm theory, general equilibrium theory, game theory, choice under uncertainty, agency theory and the economics of asymmetric information. The rational-choice foundations of microeconomics are also critically examined.

ECO-7003A

20

ECONOMIC THEORY II

IN TAKING THIS MODULE YOU CANNOT TAKE ECO-7016B IT IS RECOMMENDED THAT STUDENTS TAKE ECO-7003A IN THE AUTUMN SEMESTER. The module is about modern macroeconomic theory where whole economies are studied. The focus is consequently on the overall performance of the economy rather than on the functioning of particular parts of the economy. The module uses dynamic general equilibrium models where consumers, firms and governments are modelled as forward-looking agents who make the best of the economic environment they live in.

ECO-7019B

20

ECONOMICS DISSERTATION (60 CREDITS)

Economics Dissertation is the "icing on the cake" of an Economics MSc. It is a module that brings together the skills that you have learnt throughout your degree programme and applies these skills to study a particular topic of your interest. This module gives you an opportunity to spend a period of 2 or 3 months working exclusively on a topic of your own choice, at your own pace, with guidance from a supervisor. The module commences with a sequence of "dissertation training" lectures during the Spring Semester, including such themes as choosing a topic, accessing data, searching the literature, referencing, and qualitative data analysis. There are further dissertation training lectures during late June and early July, held in computer labs, with the objective of providing the types of econometric skills often required in dissertation research. The Econometric software STATA is used, the same as used in taught modules in Econometrics. At the end of the Spring semester, you will submit a research proposal stating the research question you would like to address and proposing a suitable methodology. You can also select to work on a dissertation topic either with a business, charity or other organisation. In all cases, it is your responsibility to come up with a research proposal although you are encouraged to speak with instructors and the PG Course Director for advice and guidance. On the basis of your proposal, a suitable supervisor will be allocated to you. At least three meetings with the supervisor should take place between May - July. The total contact time over these meetings should be at least three hours. At the first meeting, the research proposal is discussed. By the time of the third and final meeting, you should ideally have supplied a first draft of the dissertation for your supervisor to provide feedback on. The deadline for the dissertation is at the end of August and the word limit for dissertations is either 8,000 or 12,000, depending on which MSc you are taking. If you want to work on a dissertation topic with a business, charity or other organisation you must get your dissertation topic pre-approved by the PG Course Director.

ECO-7023X

60

Students will select 20 credits from the following modules:

Students may select alternative modules from other schools with the approval of the Postgraduate Teaching Director.

Name Code Credits

BEHAVIOURAL AND EXPERIMENTAL ECONOMICS I

This module provides an introduction to experimental economics. We consider why economists sometimes choose to conduct experiments, the kinds of insights they can give us, and the various kinds of experiments that have been conducted. We will cover the insights from experimental economics in several areas, such as individual decision making, markets, coordination, negotiation, charitable giving, public goods games, and games with pre-play communication. In this module, you will develop the following transferable skills: 1. Presentation skills - you will present path breaking work in the field to your peers. 2. Critical thinking skills - you will write a critical review of cutting-edge work. 3. Writing skills - you will learn to distil the essence of existing work with a view to discovering what you can build on yourself. 4. Research skills- finally, based on your critical reading of the current state of the art of the field, you will design your own research experiment.

ECO-7021A

20

FINANCE

Have you ever wondered why firms buy other firms, or why that trendy technology firm recently issued some shares? Why stock prices go up (and down)? What do we know about financial markets and, importantly, what don't we understand? This module introduces a range of concepts related to the financial decisions firms have to make, and how these decisions lead to the existence of the stock markets that feature in the daily news. The early part of the module introduces the subject area by considering a range a fundamental concepts. From this foundation, you'll learn how firms make financial decisions and how these decisions are interrelated. The later part of the module investigates how stock markets work, the risks involved, and the extent to which these risks can be avoided. On successful completion of the module, you'll have gained the knowledge and skills for setting out on a career in finance, or for further study of corporate finance and financial markets. You'll better understand financial news and be better-placed to discuss it, drawing on discussion from academic literature. You'll be able to discuss and answer the sorts of questions prospective employers, friends and family might reasonably ask a finance postgraduate.

ECO-7008A

20

FINANCIAL MARKETS

This module explores modern portfolio theory and asset pricing, behavioural finance, and the efficient markets hypothesis. You'll examine modern equilibrium asset pricing models, which in turn build upon the concepts of portfolio theory. You'll be introduced to the Capital Asset Pricing Model (CAPM) and discuss approximations and extensions, including the Single Index model and various factor models such as the recent Fama-French (2015) 5-factor model. Key concepts will be illustrated through lectures and seminars, using numerous real-world examples in Excel.

ECO-7012A

20

INDUSTRIAL ORGANISATION AND COMPETITION ECONOMICS

This module begins by examining monopoly behaviour. We then go on to study competition, and present game theoretic approaches to oligopoly pricing, collusion and product differentiation. Next, we consider the complex pricing strategies that firms use to extract more surplus from consumers, given the (often limited) information available to them. Finally, we consider the role played by intermediaries on markets. Advanced topics covered towards the end of the course (time allowing) are: 1) entry and exit, 2) vertical relations, vertical and horizontal mergers, 3) Network goods and 4) Innovation and competition. This is essentially a module in applied microeconomic theory, but we will make sure to regularly discuss implications for policy. However, a much fuller treatment of empirical and policy issues is left to Industrial Economics II.

ECO-7006A

20

MICROECONOMICS OF DEVELOPMENT

The module provides the building blocks for microeconomic analysis of development. Topics include: #Poverty, inequality and welfare #Agricultural household production #Intra- household allocation #Risk, uncertainty and insurance #Markets and Institutions: credit #Markets and institutions: labour #Human capital : education, health and nutrition #Public goods, collective action #Institutions, transaction costs #Policy reforms #Household surveys and their analysis. The module consists of lectures, seminars and workshops. Students are assessed by essay and exam.

DEV-7018A

20

Students will select 20 credits from the following modules:

Name Code Credits

BEHAVIOURAL AND EXPERIMENTAL ECONOMICS II

This module is a continuation of Behavioural and Experimental Economics I. In the first part, we describe and discuss further insights from Behavioural Economics. In the second part, we learn about experimental design and methodology. You formulate your own behavioural research questions and hypotheses, and develop an experimental design for collecting and analysing data.

ECO-7022B

20

EMPIRICAL INDUSTRIAL ORGANISATION AND COMPETITION POLICY

BEFORE TAKING THIS MODULE YOU MUST TAKE ECO-7006A (INDUSTRIAL ECONOMICS I) This is a graduate-level module in industrial economics, designed for students with a strong prior background in economics. It investigates a number of empirical topics in industrial organisation and competition policy, building on the theoretical insights provided by Industrial Economics I. Topics include collusion, predatory behaviour, price discrimination, bundling, product differentiation, vertical restraints, mergers and merger simulation, entry and industrial concentration and effectiveness of competition policy.

ECO-7005B

20

ENVIRONMENTAL AND NATURAL RESOURCE ECONOMICS

Gain a thorough grounding in the key issues in environmental and resource economics. This module provides an overview of the economic and econometric principles that serve as pivotal tools in ensuring that natural resources are sustainably valued and managed in a global economic environment. The applied nature of the module is complemented by technical papers that form the subject of the discussions in seminar sessions. Open to postgraduate students enrolled on both ATP and APP programmes, this module will enhance the econometric principles taught in the Autumn Semester by applying analytical and statistical methods to the field of environmental economics so as to emphasise the empirical relevance of these theories.

ECO-7020B

20

FINANCIAL MATHEMATICS

This technical finance module is suited to students who wish to pursue a career in the financial sector. The focus is on valuation and risk analysis of financial products, and the module is highly analytical, with weekly exercise sessions in computer labs. Topics covered include: continuous-time stochastic processes, stochastic models for security prices, bonds, term structure of interest rates, futures and forwards, options, swaps, hedging and credit risk.

ECO-7013B

20

INTERNATIONAL FINANCE

Are foreign exchange rates predictable? How can a firm hedge foreign exchange risk? What effect do interest rates have on currency values? Why are exchange rates so volatile? Are exchange rates based on macroeconomic fundamentals, or determined by speculative activity? These are the types of questions you will explore on this module. International Finance lies at the intersection of finance and macroeconomics. You'll begin by learning the general finance tools of option pricing and risk management, before focusing on how to apply these tools to look, in particular, at exchange rates. This will involve understanding the structure of the foreign exchange market, examining theories of exchange rate determination, and looking at the foreign exchange futures and options markets. You'll learn through a mixture of lectures, which have regular intervals for team or individual work, as well as seminars and self-study. Assessment comprises of technical and essay questions. These questions will be set during a class test (20%), as part of an essay (20%) and during a summer exam (60%). By the end of the module you'll be equipped for further study in financial economics or a career in the finance industry, particularly in roles related to foreign exchange.

ECO-7015B

20

MACROECONOMICS OF DEVELOPMENT

This module will provide you with an understanding of macroeconomic theory and policy in developing countries. This will include an evaluation of alternative theories of economic growth and their policy implications, and an analysis of the macroeconomic effects of external shocks. By the end of the module, you will have a good understanding of modern theories of economic growth and open economy macroeconomics, and be able to apply those theories to economic policy issues in developing countries.

DEV-7029B

20

Disclaimer

Whilst the University will make every effort to offer the modules listed, changes may sometimes be made arising from the annual monitoring, review and update of modules and regular (five-yearly) review of course programmes. Where this activity leads to significant (but not minor) changes to programmes and their constituent modules, there will normally be prior consultation of students and others. It is also possible that the University may not be able to offer a module for reasons outside of its control, such as the illness of a member of staff or sabbatical leave. In some cases optional modules can have limited places available and so you may be asked to make additional module choices in the event you do not gain a place on your first choice. Where this is the case, the University will endeavour to inform students.

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Entry Requirements

  • Degree Subject Economics (or related degree programme)
  • Degree Classification 2.1 or equivalent

Entry Requirement

Applicants should normally have a good undergraduate degree from a recognised higher education institution. The University will also take into account the employment experience of applicants where relevant.

It is normal for undergraduate students to apply for entry to postgraduate programmes in their final year of study. Applicants who have not yet been awarded a degree may be offered a place conditional on their attaining a particular class of degree.

Students for whom English is a Foreign language

We welcome applications from students whose first language is not English. To ensure such students benefit from postgraduate study, we require evidence of proficiency in English. Our usual entry requirements are as follows:

  • IELTS: 6.5 (minimum 6.0 in all components)
  • PTE (Pearson): 58 (minimum 50 in all components)

Test dates should be within two years of the course start date.

Other tests, including Cambridge English exams and the Trinity Integrated Skills in English are also accepted by the university. The full list of accepted tests can be found here: Accepted English Language Tests

INTO UEA run pre-sessional courses which can be taken prior to the start of your course. For further information and to see if you qualify please contact intopre-sessional@uea.ac.uk (INTO UEA Norwich)

Fees and Funding

Tuition fees for the academic year 2019/20 are:

  • UK/EU Students: £7,915 (full time)
  • International Students: £16,300 (full time)

If you choose to study part-time, the fee per annum will be half the annual fee for that year, or a pro-rata fee for the module credit you are taking (only available for Home/EU students).

Fees listed are inclusive of the optional 2-week pre-sessional Mathematics and Statistics for Economists course.

 

We estimate living expenses at £1,015 per month.

Scholarships and Funding

A variety of Scholarships may be offered to UK/EU and International students. Scholarships are normally awarded to students on the basis of academic merit and are usually for the duration of the period of study. Please click here for more detailed information about funding for prospective Economics students.

We estimate living expenses at £1,015 per month.

How to Apply

Applications for Postgraduate Taught programmes at the University of East Anglia should be made directly to the University.

You can apply online, or by downloading the application form.

Further Information

To request further information & to be kept up to date with news & events please use our online enquiry form.

If you would like to discuss your individual circumstances prior to applying please do contact us:

Postgraduate Admissions Office
Tel: +44 (0)1603 591515
Email: admissions@uea.ac.uk

International candidates are also encouraged to access the International Students section of our website.

    Next Steps

    We can’t wait to hear from you. Just pop any questions about this course into the form below and our enquiries team will answer as soon as they can.

    Admissions enquiries:
    admissions@uea.ac.uk or
    telephone +44 (0)1603 591515