MSc Industrial Economics

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“I learned a lot from my undergraduate degree but the extra technical skills I gained on my Master’s degree made me feel confident that I was capable of working at the cutting edge of the profession.”

In their words

Richard Havell, BSc Economics, MSc Industrial Economics, currently studying for a PhD in Economics

Industrial Economics has been the source of some of the most fertile developments in economic theory in the last 30 years. In particular, interest in game theory and transaction cost economics have grown substantially, and there have been important advances in empirical work to test new theories on the behaviour of firms and industries. The new research is informing policy debates ranging from merger policy to the competitive benefits of European integration.

The MSc Industrial Economics is a research-training course which combines the specialist components of theoretical, empirical and policy analysis in the study of industrial organisation. You will receive intensive research-led training in advanced economic theory, econometrics and research methods, as well as options from a wide range of modules according to your individual career plan.

Overview

Industrial Economics has been the source of some of the most fertile developments in economic theory in the last 30 years. In particular, interest in game theory and transaction cost economics grew substantially due to applications in industrial organisation. More recently, there have been important advances in empirical work to test the new theories and shed light on the behaviour of firms and industries. The new research is informing policy debates ranging from merger policy to the competitive benefits of European integration.  MSc Industrial Economics is a research-training course which combines the specialist components of theoretical, empirical and policy analysis in the study of industrial organisation.  Academics who teach this course include some of the leading experts in the application of industrial organisation to competition policy.

If you choose this course, you will also benefit from close collaboration with research conducted by the Centre for Competition Policy which works at the forefront of policy debates in competition economics at international level, and has senior advisory links with the European Commission, the UK Office of Fair Trade, the UK Competition Commission and the financial and utility regulators. You will be encouraged to attend the Centre's workshops, seminars and conferences and so are able to interact with leading academics and practitioners from across Europe and the United States.  Experimental and Behavioural research is having an increasing influence in Industrial Organisation and you will benefit from access to our Centre for Behavioural and Experimental Social Science.

MSc Industrial Economics fits into our Academic and Professional Programme and is designed to provide intensive research-led training in advanced economic theory, econometrics and research methods, as well as a particular speciality. It is suitable for those with a good undergraduate degree (equivalent to 2:1 or 1st) that contains a substantial component of economics or who have a Graduate Diploma in Economics.

This course is ideal for those who aim to gain employment as professional economists in government, financial institutions, business, commerce, industry, international agencies and other similar organisations. It is also suitable for those seeking eventual PhD enrolment and/or an academic career as a lecturer in Economics. Many of our former PhD students now hold academic posts as lecturers in University departments both in the UK and overseas.

Course Structure

You will study compulsory modules in applied econometrics, econometric theory and industrial economics. You will also have the opportunity to write a dissertation on a topic of your own choice, supervised by an academic from the School.

For further details of the modules currently on offer, please see the Course Profile tab.

Assessment

Assessment will be carried out through combinations of coursework and exams. You will also write a dissertation on a topic of your choice, supervised individually by an academic from the School.

Additional Support offered by the School of Economics

September Pre-Sessional Courses

The School of Economics runs an intensive course in Mathematics and Statistics for Economists in the fortnight preceding the Masters programme in September. The course incorporates the techniques of calculus and matrix algebra; in addition, students are introduced to the econometric software package which will be used in their MSc programme. While this course is not compulsory it is recommended you attend and will run from 10th September 2018 - 21st September 2018.

Course Modules 2018/9

Students must study the following modules for 180 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

The module is concerned with modern macroeconomic theory, where whole economies are studied. Your focus will be the overall performance of the economy, rather than on the functioning of particular parts of it. 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 your 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'll submit a research proposal stating the research question you would like to address and proposing a suitable methodology. On the basis of the Proposal, a suitable supervisor is allocated. At least three meetings with the supervisor take place between May - July. 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.

ECO-7023X

60

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

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

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 first 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): 62 (minimum 55 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

Fees for the academic year 2018/19 are:

  • UK/EU Students: £7,765
  • International Students: £16,000

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

International applicants from outside the EU may need to pay a deposit.

Living Expenses

Approximately £9,135 living expenses will be needed to adequately support yourself.

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.

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