Graduate Diploma Economics

“The Graduate Diploma was a fast track into Economics for me, coming from outside the discipline. It gave me a comprehensive introduction to the complex ideas and concepts.”

In their words

Philomena Bacon, Graduate Diploma, MSc Economics and PhD in Economics

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The Graduate Diploma in Economics provides a core training in Economics for those who do not already have an extensive recent economics background. The course is offered over 10 months, full-time.

Graduates of the programme who successfully secure a good pass may progress to Master's level study on either our Applied Training Programme or our Academic and Professional Programme.

The Applied Training Programme should appeal to students who wish to pursue a career in the areas of finance, management, international business, international relations and the mass media.

The Academic and Professional Programme is designed to provide intensive research-led training in advanced economic theory, econometrics and research methods. This route is suitable for those who aim to gain employment as professional economists in government, financial institutions, business, commerce, industry, international agencies and other similar organisations.

Overview

The Graduate Diploma in Economics provides a core training in Economics for graduates (or those with an equivalent qualification) who do not already have an extensive recent economics background.

As well as being a qualification in its own right, our Graduate Diploma also provides a sound basis for progression to further postgraduate study. Students who successfully secure a good pass on our Graduate Diploma, subject to the appropriate choice of options, are guaranteed a place on our MA or MSc degree programmes.

The Graduate Diploma is offered over 10 months, full-time.

Is the Graduate Diploma Programme right for you?

Postgraduate Options: Graduate Diploma, MSc
The School of Economics offers a diverse range of taught postgraduate study opportunities:

The Graduate Diploma provides core training in Economics for graduates (or those with an equivalent qualification) who do not already have an extensive recent economics background - acting as a progression route to further postgraduate study.

The Applied Training Programme (Master of Science) is designed to provide training in new and vocationally attractive skills in Economics. It is appropriate for graduates in Economics who wish to develop specialist expertise without committing to the full research-led training Academic and Professional (MSc) programme. It is also appropriate for those with a limited Economics background but with an undergraduate degree or equivalent experience in the applied area. These courses should appeal to students who wish to pursue a career in the areas of finance, management, international business, international relations and the mass media.

The Academic and Professional Programme (Master of Science) is designed to provide intensive research-led training in advanced economic theory, econometrics and research methods. This route is suitable for those who aim to gain employment as professional economists in government, financial institutions, business, commerce, industry, international agencies and other similar organisations. The MSc Programme 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. The School has full "1+3" ESRC recognition for each of the MSc courses, enabling ESRC-funded students to train at both Masters and PhD level.

Additional Support offered by the School of Economics

In order to prepare you for your Master’s degree the School of Economics runs an introductory course in Mathematics and Statistics for Economists in the fortnight preceding the Master’s programme. Whilst this course is not compulsory, it is recommended that you attend. The course will run from 10th September 2018 - 21st September 2018.

Course Modules 2018/9

Students must study the following modules for 60 credits:

Name Code Credits

INTERMEDIATE MACROECONOMICS

Inflation, unemployment, economic growth, interest rates, exchange rates and financial markets all feature prominently in the daily news. This module uses a range of economic models to build understanding of these key macroeconomic concepts, and the relationships between them. The module will further your awareness of key macroeconomic concepts and controversies. You'll be introduced to a range of economic models, accompanied by economic data, growing your understanding and ability to discuss recent macroeconomic events and critique macroeconomic theory. The early part of the module formalises macroeconomic issues including: how much is consumed and how much is saved; how much firms choose to invest; and why we have unemployment. The later part of the module builds these concepts into a macroeconomic model that you will learn to use to analyse the effectiveness of policy in different macroeconomic situations. Key questions throughout are: what can policymakers do and what should policymakers do? On successful completion of the module you'll have the knowledge and skills for further macroeconomic study. You'll better understand recent economic events, be better placed to discuss these within a formal economic framework, and be able to comment on macroeconomic policy decisions. You will have the ability to discuss and answer the sorts of questions prospective employers, friends and family might reasonably ask an economics undergraduate.

ECO-5007B

20

INTERMEDIATE MICROECONOMICS

What do a politician, a social media company and a supermarket shopper have in common? They all make choices. But what will they choose? What is a good choice? Should we try to change their choice? Understanding choices and how they are made is critically important. This module will see you explore the ways economists think about making choices. Whether those choices are in the context of uncertainty or interaction with others, you'll develop models for predicting and analysing them. You'll also develop skills of reasoning, argumentation and applying mathematical analysis to solve real world problems. You'll begin by looking at individual decision making, then uncertainty, and finally strategic interaction. Building on your knowledge of basic concepts in microeconomics, you'll become adept at applying mathematical analysis to answer a variety of real world problems, from providing public goods to understanding oligopolistic competition, learning through a mix of lectures, workshops and seminars. You'll also have the opportunity to practice for your future career as an economic consultant via a written assignment, where you'll write a consultant's report on a real-world problem. All areas of economics use microeconomics, so whatever you'd like to study or work with in the future, you'll be well served by this module. You'll complete this module with well-developed logic and analysis skills, as well as a solid grasp of fundamental concepts in microeconomics.

ECO-5007A

20

INTRODUCTORY ECONOMETRICS

Are you interested in working with data? Would you like to be able to make economics forecasts or predictions, or test an economic theory? If so, this module will introduce you the empirical techniques you need to satisfy these interests. This module will introduce you to econometrics, which is a combination of economic theory, mathematical economics, economic statistics and mathematical statistics. You'll acquire the empirical techniques that will enable you obtain numerical estimates of, for example, the relationship between the quantity demanded and price of a good, or the relationship between years of education and pay. You'll also learn how to test the strength of these relationships. For example, is there a strong and positive relationship between education and pay? Is there evidence of negative relationship between the price of a good and the quantity demanded? In addition, as your seminars will take place in the computer labs, you'll gain skills in analysing data using a specialist software package. In the first part of the module, you'll be shown how to estimate a simple regression model, interpret your findings and test the relationships between variables. As you progress, you'll learn how to identify problems with your model and how to address these problems. In the later part of the module you'll focus on models which allow you to calculate probabilities. For example, the probability of smoking, owning your own home rather than renting, or going to university instead of entering the labour market. In lectures you'll learn about the techniques; in seminars you'll apply these techniques to a variety of economic problems and estimate models with the help of the specialist software package. By the end of the module you'll be able to estimate appropriate regression models, identify problems that may arise and know how to address them. You'll also be able to test economic theory using empirical techniques and use a statistical software package. In addition, you'll be well prepared for any final-year modules which require econometric skills.

ECO-5006A

20

Students will select 60 credits from the following modules:

Name Code Credits

BEHAVIOURAL ECONOMICS

In this module you'll explore findings from behavioural economics, a research area that has found people are often motivated by other factors than self-interest, and that their decisions are influenced by psychological biases and heuristics (strategies derived from previous experiences with similar problems).

ECO-5005B

20

ECONOMETRICS RESEARCH PROJECT

The ability to understand and analyse data is an important skill in the toolkit of an economist. In this module you will learn how to apply econometric techniques to real-world data. The module will guide you step-by-step through the process of carrying out a research project. You will develop a firm understanding of how to research and evaluate literature from a variety of sources, prepare data and undertake econometric analysis in the form of preliminary data analysis and culminating in a series of regression models using appropriate techniques that build on your knowledge from Introductory Econometrics. You will learn how to summarise and communicate your ideas, drawing out possible policy implications. The module builds on the econometric techniques introduced in Introductory Econometrics. Building on these skills and knowledge, you will further develop your data analysis and understanding of econometrics by applying them to research project that uses nationally-representative UK survey data. The survey provides information on household composition, employment and skills, income and wealth, education, health and lifestyle, social and political attitudes, well-being, environment and transport, children and families giving scope to allow you to consider a broad range of potential topic areas. On successful completion of this module, you will have enhanced your knowledge and awareness of estimation techniques and enhanced your skills in analysing real-world data using specialist statistical software. Through the production of the research project you will have developed your investigative and analytical skills, preparing you for a career requiring a high level of competency in data and statistical analysis.

ECO-5008B

20

HISTORY OF ECONOMIC THOUGHT

In the aftermath of the recent financial crisis and the Great Recession, the Economics discipline is under scrutiny. How can we criticise, re-invent, and develop economic thinking for the future? This module will explore this important question, examining lessons learnt in the past. In this module you'll build knowledge of different economic theories. Moreover, you'll learn how to compare and contrast alternative theories, developing an appreciation for the assumptions, methods and solutions offered by different schools of thought to economic problems that continue to affect societies today. You'll embark on a journey of discovery, studying the evolution of economic thought over the past four centuries, from Adam Smith's concept of natural order to contemporary debate within the Re-thinking Economics Movement. You'll explore how Economics has become the discipline that we know today, and what we can do to shape economic thinking for the future. Assessment tasks will address this debate, focusing on interaction and collaboration among students, in partnership with your lecturer. By the end of this module you will have developed your critical thinking skills and your ability to identify strengths and flaws in different economic arguments and methodologies. Your ability to construct informed economic judgements will support you in further studies and beyond.

ECO-5009B

20

INTERNATIONAL TRADE AND INTEGRATION

Developing your understanding of the international economy, this module examines global flows of goods through international trade using a number of classical "core models" of international trade theory, as well as more recently developed models of "New" trade theory. It also deals with trade policy and its effects on overall economic welfare, and with controversial issues like strategic trade policy.

ECO-5005A

20

MATHEMATICAL ECONOMICS

The module provides an introduction to mathematical techniques for economists, covering linear algebra, comparative static analysis, optimisation, calculus, applications (e.g. growth models, market equilibria, constrained utility maximisation and cost minimisation). It is particularly useful if you intend to undertake postgraduate study in Economics.

ECO-5003A

20

STRATEGIC THINKING

Game theory provides a framework to understand how people behave in the strategic situation that arises when a person's welfare depends not just on their own choices, but also on the decisions made by other people. In this module you'll learn about different formal concepts of game theory through the exploration of examples in economics and in other social sciences. These might include bargaining situations (e.g. between workers and employers), interactions between firms in an industry, arms rivalry and military conflicts or the war against terrorism.

ECO-5004A

20

THE EUROPEAN ECONOMY

Have you been wondering about how the European Union is dealing with the euro crisis, Brexit or refugee flows? This module will provide you with the analytical tools to explore these challenges within the framework of European economic integration. You'll learn why economic integration has been pursued around the world and how it could be reversed through the introduction of barriers to trade or factor mobility. The challenges of integration will be explored through individual and group research and presentations. You'll develop your debating and argumentation skills in QandA sessions, and encouraged to extend communication on the topic through online tools and networking. A reflection on your team work and interaction in the module will complement your understanding of underlying theories of economic integration. You'll ultimately gain a critical appreciation of the challenges lying ahead in European economies and be able to communicate these to both economists and a wider audience.

ECO-5006B

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 Any Subject
  • Degree Classification 2.2 or equivalent

Entry Requirement

Applicants should normally have a good first degree from a recognised higher education institution. A background in statistics is preferable.  The University will also take into account the employment experience of applicants where relevant.

All applicants should have at least a grade B at Maths GCSE or equvialent.

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.

Applicants are advised to contact the School of Economics to discuss entry requirements.

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

Fees listed are inclusive of the optional 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