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Economics

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What you'll need

As part of the application process, you'll need to submit:

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  • Personal statement outlining your learning ambitions

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  • We'll email you when a decision has been made
  • If you've been made an offer, you can then accept or decline it using the Postgraduate Application Tracker.

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Master of Science

A Master of Science (MSc) is a master’s degree awarded for a postgraduate programme in the sciences.

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Course overview

The MSc Economics offers you rigorous training in economic theory and the analytical methods needed to answer the pressing economic questions facing the world. With a strong emphasis on technical skills, the programme teaches you how to model economic issues, conduct rigorous empirical analyses, and discuss their work with diverse audiences.

Introduction

The modules in this programme cover a wide range of fields within economics, allowing students to study many of the current issues facing the world economy. These include Brexit and rising trade barriers, money and banking, economic inequality, global climate change, and health and social care.

The MSc Economics is embedded in the rapidly growing Economics group at the Management School. An important feature of our programme is the course modules are taught by world-class researchers who have published in the leading academic journals on the very topics they teach. Many of our faculty also maintain close relationships with businesses, governments, and non-profit organisations, connecting their research to real-world impact.

The MSc Economics is an excellent opportunity for students who wish to pursue a career requiring a sophisticated understanding of the economy and acquired state-of-the-art analytical skills, such as in global industry, banking and finance, or government organisations. It is also well suited for students who wish to continue a professional research career, for instance working within international organisations or research institutes.

Accreditation

The University of Liverpool Management School (ULMS) is one of an elite group of institutions worldwide to hold the gold standard ‘triple-crown’ accreditation from AACSB, AMBA and EQUIS.

Accreditations in detail

Accreditations

The University of Liverpool Management School (ULMS) is one of an elite group of institutions worldwide to hold the gold standard ‘triple-crown’ accreditation from AACSB, AMBA and EQUIS.

Course content

Discover what you'll learn, what you'll study, and how you'll be taught and assessed.

Semester one

The programme consists of three compulsory modules and five optional modules, followed by a dissertation carried out over the summer period upon completion of Semester two.

Compulsory modules

ECONOMETRIC AND STATISTICAL METHODS (ECON814)

Credits: 15 / Semester: semester 1

Econometric and statistical methods are of vital importance for estimating relationships between economic and financial variables, and for making predictions about the future. Central banks maintain large scale forecasting models for macroeconomic variables, for instance, and policy institutes use a wide range of econometric tools for modeling macroeconomic or microeconomic data. Within the private sector, financial analysts routinely estimate volatility models, credit risk departments estimate probability of default models, and, as a final example, marketing departments in large e-businesses make use of website hit counts and treatment test methods to test for the effect of their promotions on demand. These are just a few examples of how relatively advanced econometric methods are used in practice. ECON814 Econometric and Statistical Methods lays the foundation for learning the more specialised methods taught in ECON920 Advanced Econometrics, and equips the participant with a good general understanding of the methods used for estimating and testing linear and nonlinear relationships between variables.

Macroeconomic Analysis (ECON905)

Credits: 15 / Semester: semester 1

In this module students will get a well-rounded overview of modern macroeconomics. Topics covered are facts about growth, the Solow growth model (theory and empirics), the Neoclassical growth model (growth with dynamic optimisation), and endogenous technical change. The second half of the module will focus on real business cycle models and the new Keynesian framework. We will evaluate the successes and failures of the basic models in matching data.

Microeconomic Analysis (ECON915)

Credits: 15 / Semester: semester 1

This module aims to provide an understanding of the essentials of microeconomic theory. This includes understanding what is meant by rational choice and how it can be used to predict what choices agents will make in different contexts. Students will also understand how markets work and what causes markets to fail.

Optional modules

International Economics and Finance (ECON704)

Credits: 15 / Semester: semester 1

This module covers the core concepts of international trade and international finance. It introduces the key facts and theories in international economics and discusses contemporaneous issues in the global economy (e.g., Brexit and COVID). Topics in this course include classic international trade models, international prices and exchange rates, regional trade agreements and Brexit, and international monetary systems. In this module, students will be taught how to conduct their own research on recent economic events drawing on data from different sources, analysing them using appropriate economic models and communicating the results to a range of different audiences.

Game Theory with Applications (ECON813)

Credits: 15 / Semester: semester 1

Game theory studies strategic decision-making that is situations where the outcome does not only depend on your own actions but also that of others. It has significantly changed how business strategists, economists, and policymakers think about problem-solving and has become an indispensable tool in economic modelling, strategy analysis, and negotiation techniques. As strategic decision-making arises naturally in many contexts, game theory has influenced many other fields, such as political sciences, biology, and computer sciences. In this module, core concepts and ideas will be illustrated with the help of many everyday examples and economic and business applications, ranging from how groceries are priced to trade wars and political conflicts. This module will boost your strategic thinking to become a successful manager or influential policymaker.

Any optional modules listed above are illustrative only and may vary from year to year. Modules may be subject to minimum student numbers being achieved and staff availability. This means that the availability of specific optional modules cannot be guaranteed.

Our curriculum

The Liverpool Curriculum framework sets out our distinctive approach to education. Our teaching staff support our students to develop academic knowledge, skills, and understanding alongside our graduate attributes:

  • Digital fluency
  • Confidence
  • Global citizenship

Our curriculum is characterised by the three Liverpool Hallmarks:

  • Research-connected teaching
  • Active learning
  • Authentic assessment

All this is underpinned by our core value of inclusivity and commitment to providing a curriculum that is accessible to all students.

Your experience

This programme is delivered by the triple-accredited University of Liverpool Management School.

The School has a thriving international master’s community with a comprehensive, interdisciplinary programme of social and extra-curricular events and dedicated careers and employability support.

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Supporting your learning

From arrival to alumni, we’re with you all the way:

What students say...

Lucy Peel

The rigorous training offered as part of the MSc Economics course has been essential for building my skills as a practising economist. The programme has a wonderful blend of modules and can really be tailored depending on different students’ career or research aspirations.

, MSc Economics

Careers and employability

The Management School’s master’s programmes have been designed from the ground up to prepare you for success in your chosen career. We have close ties with local, national and international organisations and constantly review the content of our programmes to meet the demands of top graduate employers.

Career planning

Three career coaches standing outside the Careers Studio

Our campus Career Studio is a space for students and graduates to drop into and talk to a career coach. Career coaches are highly trained to help no matter what stage you are at in your career planning. You can access support to find and apply for full-time and part-time roles, placements, internships and graduate schemes. You will also find the help you need if you have a start-up idea or want to create a business plan. You can explore the world of work, prepare for job interviews, and access careers events and workshops. The Career Studio is open Monday to Friday from 10am-5pm, simply drop in at a time that works for you.

From education to employment

Two graduates in postgraduate robes.

We develop our programmes with employers in mind. You will be supported to enhance your long-term employment prospects as you learn. We do this by exposing you to professionals, a variety of sectors and supporting you to work collaboratively with others to develop transferable skills. You are equipped with a clearer view of what to focus on in your area of interest, and to reflect on your studies. Our digital employability tools give you a tech-enhanced curriculum experience and make it easy for you to prepare for the world of work. You can use tools like the Handshake platform to connect with employers and message the Career Studio 24/7.

Networking events

Postgraduate students hold a discussion while sat round a table in in the Liverpool Guild of Students.

You can start building good professional networks by attending events and employability activities. Our events are designed to develop your skills and expose you to many different employers, as well as to help you make contacts in your field. We help you improve your confidence when speaking to employers and give you access to unique opportunities. Our networking events also boost your understanding of the competencies and skills that employers are looking for in their recruitment process, giving you a competitive edge.

Your future

You will have access to a specialist, in-house postgraduate careers team and have access to one-to-one careers guidance, workshops, seminars, and employability initiatives.

This programme has been designed to prepare students for a research-oriented career in the financial industry, international organisations, central banks, academia and research institutions.

During the year, you can take part in dedicated skills and employability days including coding bootcamps in R and python to allow you to reach software fluency and allow you to excel at any task in the workplace.

The School will also host an event for data scientists from industry and the civil service to talk to you and give an insight into the career possibilities open to you.

Fees and funding

Your tuition fees, funding your studies, and other costs to consider.

Tuition fees

UK fees (applies to Channel Islands, Isle of Man and Republic of Ireland)
Full-time place, per year £13,500
International fees
Full-time place, per year £28,500
Fees stated are for the 2025-26 academic year.

Tuition fees cover the cost of your teaching and assessment, operating facilities such as libraries, IT equipment, and access to academic and personal support.

If you're a UK national, or have settled status in the UK, you may be eligible to apply for a Postgraduate Loan worth up to £12,167 to help with course fees and living costs. Learn more about fees and funding.

Additional costs

We understand that budgeting for your time at university is important, and we want to make sure you understand any course-related costs that are not covered by your tuition fee. This could include buying a laptop, books, or stationery.

Find out more about the additional study costs that may apply to this course.

Additional study costs

We understand that budgeting for your time at university is important, and we want to make sure you understand any course-related costs that are not covered by your tuition fee. This could include buying a laptop, books, or stationery.

Find out more about additional study costs.

Scholarships and bursaries

We offer a range of scholarships and bursaries that could help pay your tuition and living expenses.

We've set the country or region your qualifications are from as United Kingdom. Change it here


Kaplan Digital Pathways Excellence Scholarship

  • International students

Completed a Kaplan Digital Pathways Pre-Master’s? We’re offering a £5,000 fee discount off the first year of master’s study for a maximum of two high achieving students joining one of our non-clinical master’s courses from an online Kaplan Pre-Master’s programme.

Postgraduate Global Advancement Scholarship – Course

  • International students

If you’re an international student joining one of 30+ selected master’s courses, you could be eligible to receive a discount worth £5,000 off your tuition fees, if you haven’t studied with us before.

Management School Excellence Scholarship

  • Home and international students

Join an MSc in the Management School and you could be eligible to receive a 50% discount off your tuition fees. You’ll be considered for this award based on your academic record, CV and the personal statement from your course application.

Management School Attainment Award

  • Home students

Are you a UK or Republic of Ireland student with a first-class degree, or equivalent? Join an MSc in the Management School and you could be eligible to receive £2,000 off your tuition fees.

Management School Progress to Postgraduate Award

  • Home and international students

Are you a University of Liverpool undergraduate student graduating this summer? Progress from a current University of Liverpool degree, in any subject, to study an MSc in the Management School, and you could receive a tuition fee discount of £1,000.

Chilean National Agency for Research and Development (ANID) Scholarship

  • International students
  • Chile

If you’re a Chilean student joining a master’s degree, you could be eligible to apply for a 20% discount on your tuition fees with a Chilean National Agency for Research and Development (ANID) Scholarship.

Chevening Scholarships

  • International students
  • Albania
  • Algeria
  • Anguilla
  • Antigua and Barbuda
  • Argentina
  • Australia
  • Azerbaijan
  • Bangladesh
  • Barbados
  • Belize
  • Bolivia
  • Brazil
  • British Virgin Islands
  • Brunei
  • Canada
  • Cayman Islands
  • Chile
  • China
  • Columbia
  • Costa Rica
  • Cuba
  • Dominica
  • Ecuador
  • Egypt
  • El Salvador
  • Ghana
  • Guatemala
  • Guyana
  • Honduras
  • Hong Kong
  • Iceland
  • India
  • Indonesia
  • Iraq
  • Jamaica
  • Japan
  • Jordan
  • Kazakhstan
  • Kenya
  • Libya
  • Malaysia
  • Mauritius
  • Mexico
  • Moldova
  • Mongolia
  • Montserrat
  • Morocco
  • Nepal
  • New Zealand
  • Nicaragua
  • Nigeria
  • Pakistan
  • Panama
  • Paraguay
  • Peru
  • Philippines
  • Russia
  • Saint Kitts and Nevis
  • Saint Lucia
  • Saint Vincent and The Grenadines
  • Serbia
  • Singapore
  • South Africa
  • South Korea
  • South Sudan
  • Sri Lanka
  • Sudan
  • Taiwan
  • Tanzania
  • Thailand
  • Trinidad and Tobago
  • Turkey
  • Turks and Caicos Islands
  • Uganda
  • Ukraine
  • Uruguay
  • Venezuela
  • Vietnam
  • Zimbabwe

If you’re an international student from an eligible country, joining a one-year master’s course, you could be eligible to apply for a Chevening Scholarship. If your application is successful, you could expect to have your master’s fees paid, up to a maximum of £18,000, and receive additional help with living costs.

Consejo Nacional de Ciencia y Tecnologia (CONACyT) Award

  • International students
  • Mexico

If you’re a Mexican student joining a master’s degree, you could be eligible to apply for a 30% discount on your tuition fees with a CONACyT Award.

Fund for the Development of Human Resources (FIDERH) Award

  • International students
  • Mexico

If you’re a Mexican student joining a master’s degree and you’re in receipt of a FIDERH graduate loan, you could be eligible to benefit from a 20% discount on your tuition fees with a FIDERH Award.

FUNED Award

  • International students
  • Mexico

If you’re a Mexican student joining a master’s degree and you’re in receipt of a FUNED loan, you can apply to be considered for a 20% tuition fee discount. A total of up to 50 awards will be available to master’s and PhD students per academic year.

Hong Kong Graduate Association & Tung Foundation Postgraduate Scholarships

  • International students
  • China
  • Hong Kong

If you’re a master’s student from Hong Kong or the People’s Republic of China who can demonstrate academic excellence, you may be eligible to apply for a scholarship worth up to £10,000 in partnership with the Tung Foundation.

HRH Princess Sirindhorn University of Liverpool Scholarship (Thailand)

  • International students
  • Thailand

If you’re a student from Thailand joining a one-year master’s degree, you might be eligible to apply to have your tuition fees paid in full and receive help with living costs. One award is available and only students who are new to the University will be considered.

Humanitarian Scholarships for Master’s Programmes

  • International students

Do you have recognised status as a refugee or person with humanitarian protection outside the UK? Or are you a Ukrainian who’s sought temporary protection in the EU? You could be eligible to apply for the full payment of your master’s fees and additional financial support.

John Lennon Memorial Scholarship

  • Home students

If you’re a UK student, either born in or with strong family connections to Merseyside, you could be eligible to apply for a fee discount of up to £4,500. You’ll need to demonstrate an active interest in global, community and environmental issues to be considered.

JuventudEsGto Scholarship

  • International students
  • Mexico

If you’re a resident of the state of Guanajuato in Mexico joining a master’s degree, you could be eligible for a 10% discount on your tuition fees with a JuventudEsGto Scholarship.

Marshall Scholarship

  • International students
  • United States

If you’re a USA student joining an eligible master’s with us, you could be eligible to apply for a Marshall Scholarship. If your application is successful, your master’s tuition fees will be paid in full. One Marshall Scholarship for master’s study is available in each academic year.

Postgraduate Opportunity Bursary

  • Home students

If you’re a UK University of Liverpool graduate joining a master’s degree with us, you could be eligible to receive £3,000 off your tuition fees. You must have graduated in the last two years and received a widening access scholarship during your undergraduate studies.

Sport Liverpool Performance Programme

  • Home and international students

Apply to receive tailored training support to enhance your sporting performance. Our athlete support package includes a range of benefits, from bespoke strength and conditioning training to physiotherapy sessions and one-to-one nutritional advice.

Turkish Ministry of Education Scholarship

  • International students
  • Turkey

If you’re a Turkish student joining a master’s degree, you could be eligible to apply for a 20% discount on your tuition fees with a Turkish Ministry of Education Scholarship.

Graduate Loyalty Advancement Scholarship

  • Home and international students

If you’re a University of Liverpool graduate starting a master’s degree with us, you could be eligible to receive a loyalty discount of up to £2,500 off your master’s tuition fees.

University of Liverpool International College Excellence Scholarship

  • International students

Completed a Pre-Master’s at University of Liverpool International College (UoLIC)? We’re offering a £5,000 fee discount off the first year of master’s study to some of the highest achieving students joining one of our non-clinical master’s courses from UoLIC.

University of Liverpool International College Impact Progression Scholarships

  • International students

If you’re a University of Liverpool International College student awarded a Kaplan Impact Scholarship, we’ll also consider you for an Impact Progression Scholarship. If selected, you’ll receive a fee discount worth £3,000 off the first year of your master’s course.

Vice-Chancellor’s International Attainment Scholarship for Mainland China

  • International students
  • China

Are you a high-achieving graduate from the People’s Republic of China with a degree from a Chinese university? You could be eligible to apply for a £5,000 fee discount if you’re joining an eligible master’s course. Up to 15 eligible students will receive this scholarship.

Entry requirements

The qualifications and exam results you'll need to apply for this course.

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Your qualification Requirements

About our typical entry requirements

Postgraduate entry requirements

We accept a 2:2 honours degree from a UK university, or an equivalent academic qualification from a similar non-UK institution. This degree should be in Economics or a closely related discipline with a quantitative focus.

Students with a 2:2 degree from a quantitative Science discipline (e.g. Mathematics, Physics, Statistics, Operations Research) are also encouraged to apply.

Applicants should have competency in A level Mathematics/Statistics or equivalent.

International qualifications

If you hold a bachelor’s degree or equivalent, but don’t meet our entry requirements, you could be eligible for a Pre-Master’s course. This is offered on campus at the University of Liverpool International College, in partnership with Kaplan International Pathways. It’s a specialist preparation course for postgraduate study, and when you pass the Pre-Master’s at the required level with good attendance, you’re guaranteed entry to a University of Liverpool master’s degree.

English language requirements

You'll need to demonstrate competence in the use of English language, unless you’re from a majority English speaking country.

We accept a variety of international language tests and country-specific qualifications.

International applicants who do not meet the minimum required standard of English language can complete one of our Pre-Sessional English courses to achieve the required level.

English language qualification Requirements
IELTS 6.5 overall, with no component below 6.0
TOEFL iBT 88 overall, with minimum scores of listening 19, writing 19, reading 19 and speaking 20. TOEFL Home Edition not accepted.
Duolingo English Test 120 overall, with no component below 105
Pearson PTE Academic 61 overall, with no component below 59
LanguageCert Academic 70 overall, with no skill below 65
PSI Skills for English B2 Pass with Merit in all bands
INDIA Standard XII National Curriculum (CBSE/ISC) - 75% and above in English. Accepted State Boards - 80% and above in English.
WAEC C6 or above

PRE-SESSIONAL ENGLISH

Do you need to complete a Pre-Sessional English course to meet the English language requirements for this course?

The length of Pre-Sessional English course you’ll need to take depends on your current level of English language ability.

Find out the length of Pre-Sessional English course you may require for this degree.

Pre-sessional English

If you don’t meet our English language requirements, we can use your most recent IELTS score, or the equivalent score in selected other English language tests, to determine the length of Pre-Sessional English course you require.

Use the table below to check the course length you're likely to require for your current English language ability and see whether the course is available on campus or online.

Your most recent IELTS score Pre-Sessional English course length On campus or online
6.0 overall, with no component below 6.0 6 weeks On campus
6.0 overall, with no component below 5.5 10 weeks On campus and online options available
6.0 overall, with no more than one component below 5.5, and no component below 5.0 12 weeks On campus and online options available
5.5 overall, with no more than one component below 5.5, and no component below 5.0 20 weeks On campus
5.0 overall, with no more than one component below 5.0, and no component below 4.5 30 weeks On campus
4.5 overall, with no more than one component below 4.5, and no component below 4.0 40 weeks On campus

If you’ve completed an alternative English language test to IELTS, we may be able to use this to assess your English language ability and determine the Pre-Sessional English course length you require.

Please see our guide to Pre-Sessional English entry requirements for IELTS 6.5, with no component below 6.0, for further details.

About our entry requirements

Our entry requirements may change from time to time both according to national application trends and the availability of places at Liverpool for particular courses. We review our requirements before the start of the new application cycle each year and publish any changes on our website so that applicants are aware of our typical entry requirements before they submit their application.

We believe in treating applicants as individuals, and in making offers that are appropriate to their personal circumstances and background. Therefore the offer any individual applicant receives may differ slightly from the typical offer quoted on the website.

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Changes to Economics MSc

See what updates we've made to this course since it was published. We document changes to information such as course content, entry requirements and how you'll be taught.

23 March 2023: New postgraduate taught course pages

New course pages launched.