Economics MSc
- Programme duration: Full-time: 12 months Part-time: 24 months
- Programme start: September 2023
- Entry requirements: A 2:1 Honours degree (or overseas equivalent) in Economics or a related discipline with a quantitative focus. Students with a 2:1 degree from a quantitative Science discipline are also encouraged to apply.

Module details
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 2.
Compulsory modules
Econometric and Statistical Methods (ECON814)
Level | M |
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Credit level | 15 |
Semester | First Semester |
Exam:Coursework weighting | 100:0 |
Aims | The aim of this module is to give the student an understanding of basic econometric and statistical methods suitable for financial and economic data series. Extensive use will be made of econometrics software including EViews in tutorials to supplement the theory with applications and to provide hands-on experience. The aims are that the student will: Understand the multiple regression model including the matrix and statistical background; Be apply to apply statistical tests estimate regression models; Understand the assumptions and limitations; Understand the maximum likelihood principle and be able to perform the relevant specification tests; Understand the principle underlying instrumental variables and GMM estimation; Be confident in the use of econometric software such as EViews for a range of methods and applications. |
Learning Outcomes | (LO1) Formulate and estimate regression models. (LO2) Perform diagnostics on regression models. (LO3) Perform all the calculations required via EVIEWS. (LO4) Perform maximum likelihood estimation and be aware of the properties of the estimators. (LO5) Perform GMM estimation. (S1) Problem solving skills (S2) Numeracy (S3) IT skills (S4) Communication skills |
Macroeconomic Analysis (ECON905)
Level | M |
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Credit level | 15 |
Semester | First Semester |
Exam:Coursework weighting | 100:0 |
Aims | This module aims to provide students with 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 course 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. |
Learning Outcomes | (LO1) Demonstrate in-depth knowledge and understanding of macroeconomic theory. (LO2) Apply core advanced economic theory and quantitative methods to applied topics. (LO3) Show theory and model based understanding of advanced analytical methods. (S1) Problem solving skills (S2) Numeracy (S3) Commercial awareness (S4) Communication skills (S5) IT skills (S6) International awareness (S7) Lifelong learning skills (S8) Ethical awareness |
Microeconomic Analysis (ECON915)
Level | M |
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Credit level | 15 |
Semester | First Semester |
Exam:Coursework weighting | 80:20 |
Aims | This module aims to provide an opportunity to understand and appreciate the fundamental aspects of decision making in an uncertain environment, allowing for the possible synchronic or diachronic incidence of risk. Individual risk linked behaviour will be linked to symmetric and asymmetric imperfect information scenarios. In this context individual or circumscribed group behaviour may be related to an aggregate and institutional context. |
Learning Outcomes | (LO1) An appreciation of the basic aspects of consumer and producer decision making both under certainty and uncertainty; (LO2) An understanding of the underlying assumptions needed to justify the existence of a general competitive equilibrium; (LO3) An understanding of the relationship between a general equilibrium and welfare considerations. (S1) Problem solving skills (S2) Numeracy (S3) Organisational skills (S4) Communication skills (S5) Lifelong learning skills |
Dissertation (ECON912)
Level | M |
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Credit level | 60 |
Semester | Whole Session |
Exam:Coursework weighting | 0:100 |
Aims | The aim of this module is to enable a student to undertake an independent piece of work that demonstrates a consolidated level of thorough understanding achieved by undertaking theoretical as well as empirical analysis on a particular aspect of interest. The work could be a fundamental ground for the research that is anticipated to be undertaken in due course to be continued by the student. |
Learning Outcomes | (LO1) Development of skill of presenting theoretical and empirical analysis on a particular aspect of interest in the discipline. Further development of the work for further research may be considered. (S1) Research skills (S2) Written communication skills (S3) Organisational skills |
Optional modules
International Economics (ECON704)
Level | M |
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Credit level | 15 |
Semester | First Semester |
Exam:Coursework weighting | 0:100 |
Aims | The module aims to introduce key facts and theories in international economics and discuss contemporaneous issues in the global economy. The topics covered in this module will introduce students to the up-to-date knowledge of the global economic environment, equip students with necessary tools analyse recent political and economic events and prepare them to work in economic consulting, data analytics, civil service, and industry. The focus on theory underpinning policy and then empirically testing the impact of policy exposes students to the way policy-oriented research is conducted. |
Learning Outcomes | (LO1) Students will be able to describe the key economic aspects of the global economic and business environment in recent years. (LO2) Students will be able to identify major economic issues experienced by nations and institutions and use appropriate economic analysis to examine such issues. (LO3) Students will be able to read and discuss empirical analyses conducted by other researchers. (LO4) Students will be able to develop the ability to conduct individual study by drawing on multiple data sources. (LO5) Students will be able to program empirical analyses in STATA. (LO6) Students will be able to analyse and quantify the economic impacts of recent regional and global issues (e.g., Brexit and COVID). (S1) Problem solving (S2) Verbal and written communication (S3) Numeracy (S4) IT skills (S5) International awareness (S6) Lifelong learning |
Game Theory With Applications (ECON813)
Level | M |
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Credit level | 15 |
Semester | First Semester |
Exam:Coursework weighting | 80:20 |
Aims | The objective of the module is to provide a graduate level and modern introduction to game theory. This is the study of strategic interactions, i.e. situations where outcomes depend not only on our own actions but also on those of others. In particular, students will be taught how to apply game theory to a range of economic, business, everyday and social contexts. |
Learning Outcomes | (LO1) Conduct advanced strategic analysis by modelling a game and possible reasoning concepts and inferring behavioural predictions. (LO2) Distinguish between types of games. (LO3) Apply games in a range of economic, business and social contexts. (S1) Analytical and problem solving skills. (S2) Numeracy. (S3) Communication skills. |
Applied Macroeconometrics (ECON920)
Level | M |
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Credit level | 15 |
Semester | Second Semester |
Exam:Coursework weighting | 70:30 |
Aims | The aim of this module is to build on the first semester econometrics module and give the student an understanding of more advanced econometric and statistical methods suitable for analysing financial and macroeconomic data series. Extensive use will be made of the econometrics package EViews in lab-based tutorials to supplement the theory with applications and to provide hands-on experience. The aims are that the students will: Understand the main tools of modern econometric techniques for analysing financial and macroeconomic data. Understand the assumptions and limitations. Be confident in the use of an econometric computer programme (EViews) for a range of methods and applications. |
Learning Outcomes | (LO1) Formulate and estimate time series models; (LO2) Use time series models for testing economic theories and making economic forecasts. (LO3) Perform all the calculations required via EVIEWS. (LO4) Understand and be able to interpret time series models estimated from EVIEWS. (S1) Problem solving (S2) Numeracy (S3) Communication skills (S4) Teamwork |
Applied Microeconometrics (ECON826)
Level | M |
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Credit level | 15 |
Semester | Second Semester |
Exam:Coursework weighting | 75:25 |
Aims | This module seeks to teach students to become a critical consumer of the empirical work in existing literature. The goal is for students to learn to discuss, critique, and analyse applied economics research. The material in this course will provide students with the techniques needed to conduct their own original research in microeconomics. |
Learning Outcomes | (LO1) Students will be able to discuss the methods economists use to obtain causal identification. (LO2) Students will be able to code basic statistical analyses in STATA. (LO3) Students will be able to critique various research methods. (LO4) Students will be able to assess the validity and plausibility of assumptions needed for results to be causal. (S1) Problem solving. (S2) IT skills. (S3) Numeracy. (S4) International awareness. |
Machine Learning and Big Data Econometrics (ECON701)
Level | M |
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Credit level | 15 |
Semester | Second Semester |
Exam:Coursework weighting | 50:50 |
Aims | The module aims to prepare students for careers where a good understanding of Machine Learning methods and Python programming is necessary or advantageous. Examples include: research careers in applied economics or finance, careers in data science, or careers in data analysis generally. |
Learning Outcomes | (LO1) Students will be able to define, explain and motivate a number of Machine Learning methods. (LO2) Students will be able to use libraries in Python for Machine Learning and scientific research. (LO3) Students will be able to produce Jupyter Notebook documents, mixing formatted text in Markdown with Python code. (LO4) Students will gain a good general ability with the Python programming language. (S1) Flexibility and adaptability (S2) Problem solving (S3) Numeracy (S4) Commercial awareness |
Money and Banking (ECON916)
Level | M |
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Credit level | 15 |
Semester | Second Semester |
Exam:Coursework weighting | 80:20 |
Aims | To develop a microeconomic and a macroeconomic perspective of banking; To acquire an understanding of the specific nature of a bank as a firm, the role of banks in an economy, and of the regulatory environment in which banks operate; To develop an understanding of economic foundation of the banking sector and analyse its importance for the macro-economy. |
Learning Outcomes | (LO1) Understand the role and characteristics of banks in an economy; (LO2) Understand the competitive environment banks operate in; (LO3) Explain the main risks, eg credit, liquidity, interest rate, that banks face; (LO4) Explain how banks measure and manage these risks; (LO5) Describe the main systemic risks and explain why and how banks are regulated; (LO6) Explain the macroeconomic role of the banking system. (S1) Problem solving skills (S2) Adaptability (S3) Numeracy (S4) Commercial awareness (S5) Teamwork (S6) Organisational skills (S7) Communication Skills (S8) IT Skills (S9) International awareness (S10) Lifelong learning skills (S11) Ethical awareness |
Current Topics in Economics (ECON827)
Level | M |
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Credit level | 15 |
Semester | Second Semester |
Exam:Coursework weighting | 0:100 |
Aims | This module aims to provide students with knowledge of cutting-edge topics in economics, and develop their understanding of the contribution of economic science to tackling both new and existing challenges faced by consumers, firms, governments, and regulators in practice. The module aims to prepare students for the workplace, whether industrial or academic, by developing life-long learning skills and embodying an approach to learning that is rooted in fundamental economic research. The module also provides the opportunity to acquire, develop and apply a range of advanced research skills, independent critical thinking, and presentation and report writing skills. |
Learning Outcomes | (LO1) Be able to actively engage with economic research. (LO2) Be able to apply the theories and methodologies studied to current economic issues. (LO3) Be able to deliver technical presentations, explain complex economic models and concepts. (LO4) Be able to critically evaluate research outputs. (LO5) Be an independent thinker, capable of original ideas and research questions. (S1) Adaptability. (S2) Problem solving. (S3) Numeracy. (S4) Communication. (S5) Lifelong learning. |
Labour Economics (ECON702)
Level | M |
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Credit level | 15 |
Semester | Second Semester |
Exam:Coursework weighting | 50:50 |
Aims | The module aims to prepare students for careers where a good understanding of microeconometric analysis is key. The topics covered in this module will prepare students to work in economic consulting, data analytics, civil service, and industry. The focus on theory underpinning policy and then empirically testing the impact of policy exposes students to the way policy-oriented research is conducted. This systematic approach reinforces the skills they have learned in other modules but brings them all together in a way that teaches students to be well rounded economists. |
Learning Outcomes | (LO1) Students will be able to model supply of labour by individuals and demand for labour by firms in competitive and uncompetitive environments. (LO2) Students will be able to program empirical analyses in STATA. (LO3) Students will be able to read and discuss empirical analyses conducted by other researchers. (LO4) Students will be able to quantify the effects of labour market policies. (LO5) Students will be able to discuss the distributional impact of policies on different groups. (S1) Problem solving (S2) Verbal and written communication (S3) Numeracy (S4) IT skills (S5) International awareness |
Public Economics (ECON703)
Level | M |
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Credit level | 15 |
Semester | Second Semester |
Exam:Coursework weighting | 50:50 |
Aims | The aim of the module is to prepare students for a variety of careers, ranging from any type of government and civil service, to economic consulting, data analytics, and other data-related work in the private sector. The goal of the module is to synthetize theoretical and microeconometric skills, many of which students have learned in other modules, to produce well-rounded economists who are knowledgeable about the current state-of-the-art methods used in conducting policy-oriented research. A particular emphasis in the module will be placed on the role of government policies in addressing environmental pollution and climate change, which are arguably among the most important issues faced by the current and future generations. |
Learning Outcomes | (LO1) Students will be able to model the responses of individuals and firms to various local and national government policies. (LO2) Students will be able to read, comprehend, and evaluate empirical analyses conducted by other researchers. (LO3) Students will be able to program empirical analyses in STATA statistical software. (LO4) Students will be able to quantify the effects of various national and local government policies. (LO5) Students will be able to discuss the distributional impact of policies on difference groups. (S1) Problem solving (S2) Numeracy (S3) IT skills (S4) Verbal and written communication (S5) International awareness |