MSc Industrial Economics

“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

Key facts

(REF 2014)

Industrial economics has been the source of some of the most fertile developments in economic theory in the last 30 years – with new research informing policy debates ranging from merger policy to the competitive benefits of European integration.

On this research-focused degree you will receive intensive training in advanced economic theory, econometrics and research methods, as well as empirical and policy analysis in the study of industrial organisation. You will study with leading experts in the application of industrial organisation to competition policy.

This Master’s is ideal if you aim to work as a professional economist in government, competition authorities, business, commerce, international agencies and other similar organisations. It’s also an excellent step towards PhD study.

Overview

The MSc Industrial Economics is a research-training course, where you will combine specialist components of theoretical, empirical and policy analysis in the study of industrial organisation.

This degree is part of our Academic and Professional Programme – designed for people who want to pursue careers as professional economists 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, with a specialism in industrial organisation. 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.

In addition to conducting your own research, you will complete taught modules in Industrial Organisation, Economic Theory and Econometrics. Towards the end of your 12 months with us you will then write a dissertation. You’re free to choose your own dissertation topic from within the area of industrial economics, and you will be supervised by a member of the School of Economics.

Throughout you studies you will be able to interact with leading academics in the field. You will also have the opportunity to engage with research conducted by theCentre for Competition Policy. The Centre, based at UEA, works at the forefront of policy debates in competition economics at international level, and has senior advisory links with the UK and European Competition Commissions.

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 Industrial 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 Industrial Organisation and Competition Economics. In spring you will take Economic Theory II, Applied Econometrics, and Empirical Industrial Organisation and Competition Policy.

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’ve an international reputation in many key areas, including theoretical and applied economics. Our research interests include competition economics, behavioural and experimental economics, environmental policy, conflict, contests and corporate behaviour, and finance and financial markets.

Teaching on each of your modules will be spread over two semesters. In a typical module, you will have two 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 will be ready to pursue a variety of careers as a professional economist in government, competition authorities, consultancy, financial institutions, 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

  • Economic advisers for government departments (eg CMA or BEIS)
  • Consultants in private sector
  • Competition economics consultancy work
  • International bodies (eg OECD and EC)
  • Financial institutions
  • Academia (after PhD study)

Course related costs

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

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

EMPIRICAL INDUSTRIAL ORGANISATION AND COMPETITION POLICY

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

INDUSTRIAL ORGANISATION AND COMPETITION ECONOMICS

We first examine monopoly behaviour. We then study competition, and present game theoretic approaches to oligopoly pricing, collusion and product differentiation. Next, we consider the pricing strategies used by firms to extract more surplus from consumers, given the (often limited) information available to them (price discrimination). Advanced topics covered subsequently include: entry and entry deterrence, market intermediaries and two-sided markets, RandD and innovation, advertising, mergers, behavioural IO. This is essentially a module in applied microeconomic theory, but we occasionally briefly comment on implications for policy. A much fuller treatment of empirical and policy issues is left to the spring semester industrial organisation module.

ECO-7006A

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 a quantitative degree subject and relevant work experience in a national or international agency in competition or regulation, economic consultancy, or related economic analysis or policy institutions.
  • 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.

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