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Faculty of Economics


MPhil in Economics - Home

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.


To obtain the degree of MPhil in Economics, students need to:


  • Attend the preparatory course in mathematics and statistics. The prep course runs from mid-September to early October. Its aim 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 Requirements
  • Attend and be assessed in five compulsory and two optional modules. Compulsory modules consist of both lectures and classes.
  • Write a dissertation of up to 10,000 words. During the second term, each student is allocated a supervisor for the dissertation. 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. Dissertations are submitted by the end of July.  NB: from October 2019, the dissertation element of the Course will be optional, so students may substitute the dissertation with an Optional Module. The dissertation should be at least 8,000 and not more than 10,000 words in length, based on material from one of the optional modules not already chosen or on a subject approved by the Degree Committee.


Examination of the Modules will be in January, May and June.

Continuation to PhD

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 be possible for students to continue from the MPhil onto the PhD programme.