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Faculty of Economics


MPhil in Economics - HomeMPhil in Economics - Student Quote

This master’s degree is intended to equip you with the tools needed by a professional economist. The degree will give the technical training required to undertake a career in government, central banking, international organisations or private sector firms such as economic consultancies.

The Course will provide a broad analysis of macroeconomics and will contain a mix of theory, policy and empirical evidence. Microeconomics will cover the standard economic models of individual decision-making with and without uncertainty, models of consumer behaviour and producer behaviour under perfect competition and the Arrow-Debreu general equilibrium model. Econometrics will give a solid understanding of basic applied econometric methods in order to be able to analyse different kinds of economic data.

Each student will take 7 modules plus a dissertation. Each Module consists of 18 hours of lectures - except for Econometrics, which will be 27 hours - together with supporting classes.


Course Requirements

To attend the preparatory course in mathematics and statistics


Five compulsory modules [5]


Two optional modules [2]


A dissertation of up to 10,000 words

Preparatory Course in Mathematics and Statistics

A good understanding of mathematics is needed to cope with much of the theory in modern economics and a sound knowledge of statistics is essential for applied work. The aim of the compulsory three-week preparatory course, which runs from mid-September to early October, is to review and develop the required technical methods for the compulsory core modules in macroeconomics, microeconomics, and econometrics. The topics covered are: linear algebra; statistics; static optimisation; dynamic optimisation; differential and difference equations. Students are expected to pass a two hour examination at the end of this preparatory course.

Course Modules


Examination of the Modules will be in May/June. The modules account for 80% of the overall mark and the dissertation accounts for 20% of the overall mark. (Modules with a higher number of lecture hours will have a higher weighting)


During the second term, each student is allocated a supervisor for the dissertation (maximum length 10,000 words). The topic of the dissertation is associated with either a core subject or a specialist subject and must be formally approved by the Faculty. During the second and third terms the student will meet the supervisor to discuss an outline of the topic, a bibliography, the use of appropriate data and methods of analysis, and a draft of the dissertation. After the written examinations in the third term, students can concentrate entirely on their dissertations, with supervisors permitted to give comments until the end of June (maximum of two hours supervision). Dissertations will be submitted by the end of July.

Continuation to PhD

The MPhil in Economics is designed for students who wish to obtain a one-year master's qualification before leaving academic economics, so it will not normally be possible for students to continue from the MPhil onto the PhD programme. However, in very exceptional circumstances a transfer to the MPhil in Economic Research may be possible in the first week of the Course.