Economics MSc

Modern economics is an increasingly rigorous discipline and advanced degrees are now essential for careers in international institutions, government and industry. The Economics MSc at UCL will equip the professional economist with the powerful tools required to understand the rapidly changing, complex and uncertain modern world economy.

Mode of study

  • Full-time 1 year

Tuition fees

  • UK/EU Full-time: £14,250
  • UK/EU Part-time: £7,000
  • Overseas Full-time: £18,300
  • Overseas Part-time: £9,250

Application date

  • All applicants: 1 March 2014

More details in Application section.

What will I learn?

The programme aims to provide all students with a sound and worthwhile education in modern Economics and Econometrics, developing important transferable skills of problem-definition, analysis and self-motivation. Students will learn the formal tools that are necessary to understand and conduct cutting-edge research in both theoretical and applied economics.

Why should I study this degree at UCL?

UCL Economics has an outstanding international reputation in the areas of game theory, macroeconomics, fields of applied microeconometrics (labour, development, public economics and industrial organisation), and econometric theory.

The department is a global leader in policy-oriented research, with members directing and holding senior positions in research centres involved in policy design and evaluation. We are sufficiently large to be a lively centre for wide-ranging research activity but compact enough for staff to be highly accessible to students.

UCL is located in central London at the heart of the UK centre of government. Recognised as the world's best connected city, 75% of the Fortune 500 companies have offices in London.

Students undertake modules to the value of 180 credits. The programme consists of four core modules (60 credits), four optional modules (60 credits) and a research dissertation (60 credits).

Core Modules

  • Microeconomics
  • Macroeconomics
  • Econometrics
  • Research Methods


  • Advanced Macroeconomic Theory
  • Advanced Microeconometrics
  • Advanced Microeconomic Theory
  • Time Series Econometrics
  • Public Microeconomics
  • Economics of Development
  • The Economics of Migration
  • Health Economics
  • Programme Evaluation for Users
  • Behavioural Economics
  • Macroeconomic Policy
  • Ethics in Welfare Economics
  • Empirical Industrial Organisation
  • Topics in Labour Economics
  • Applied Policy Analysis


The dissertation of 10,000 words will be a piece of lightly supervised research, including a brief critical review of the literature in the relevant area.

Teaching and Learning

The programme is delivered through a combination of lectures, seminars, and practical and problem classes. The MSc degree is awarded on the basis of written, final examination papers and the research dissertation.

Further details available on subject website:

Scholarships available for this department

James Lanner Memorial Scholarship

For prospective Master's students in the Department of Economics. This award is based on academic merit although preference will be given to candidates who intend to specialise in international economics or in issues of economic policy in Europe. Students must not be receiving full financial support from other sources. There is not applicaiton procedure; all eligible students will be automatically considered by the Department of Economics.

Gaitskell MSc Scholarship

GREAT/UCL Scholarship

This is a joint programme part funded through GREAT funds and through contributions made by UK Universities. GREAT is a part of the UK Government’s campaign to show to the world the best of the UK, and UCL has 8 master's courses which are eligible for inclusion. No separate appliction is required; all eligible students will be assessed by their department.

Michael Curtis UCL Bursary

Further information about funding and scholarships can be found on the Scholarships and funding website.

Entry requirements

A minimum of an upper second-class Bachelor's degree in Economics with a significant quantitative component from a UK university, or an overseas qualification of an equivalent standard. Applicants with a qualification of an equivalent standard in another quantitative discipline, such as statistics, mathematics, engineering or physics, may also be considered.
Applicants whose undergraduate degree is from a university outside the UK must supply GRE scores. The quantitative GRE score must be 155 or above, the verbal score must be 150 or above, and the analytical score must be 3.5 or above (post-August 2011 scores).

International equivalencies

Select your country for equivalent alternative requirements

English language proficiency level: Good

How to apply

The deadline for applications is 1 March 2014. Please make only one application to the Economics Department's MSc programmes (Economics MSc and Economics Policy MSc).

Who can apply?

Because of the focus on analytical rigour and research methods, the ideal candidate is a professional economist with research-oriented interests or someone interested in pursuing an Economics PhD.

What are we looking for?

Together with essential academic requirements, the personal statement is your opportunity to show whether your reasons for applying to this programme match what the programme will deliver. When we assess your application we would like to learn:

  • why you want to study Economics at the graduate level
  • why you want to study Economics at UCL: We want to see what you have found out about how we approach the study of Economics at the MSc level at UCL, and what specific skills and aptitudes you have that will help you succeed on our MSc programme.
  • where you would like to go professionally with your degree
  • Any details of your skills in mathematics, calculus, probability and statistics, or linear algebra
  • About any skills you have with spreadsheets, statistical software, mathematical programming or working with data


  • Graduates go on to a variety of roles, including those in the civil service, research, finance and political sectors.
  • First destinations of recent graduates include:
  • Department for Transport: Assistant Economist
  • Financial Conduct Authority: Account Associate Manager
  • Government Economic Service: Economic Advisor
  • HM Treasury: Economic Advisor
  • Cabinet Office: Chief Advisor
  • Oxera : Consultant
  • British Airways : Analyst
  • Bank of England: Economist
  • ING Bank: Analyst
  • Deloitte & Touche, Associate Economist
  • McKinsey & Company, Management Consultant
  • European Central Bank: Trainee
  • International Growth Centre Country Offices (Myanmar, Rwanda)
  • ODI Fellowships (Burundi, Rwanda and others)
  • PhD programmes: Recent graduates have been admitted to PhD programmes at UCL; Barcelona; Bologna; Cambridge; Berlin; Birkbeck; EUI (European University Institute) Fl

    Top career destinations for this programme

    • ING Bank, Analyst, 2011
    • Mitsubishi UFJ International Securities, Credit Analyst, 2011
    • North-South University of Bangladesh, Economics Lecturer, 2011
    • Department of Energy and Climate Change, Economic Advisor, 2011
    • Policy Research Institute, Economist, 2011


    The UCL Economics MSc is a passport to roles such as professional economist and researcher in major national and international institutions that demand the deeper, more rigorous analytical reasoning in economics offered by the MSc. In these roles, MSc graduates draw on a theoretical grounding and wealth of practical analytical tools to formulate relevant questions in economics and produce high quality economic analysis valued by employers and prestigious PhD programmes. Students benefit from the international reputations of the programme’s academic staff and the academic excellence and international perspectives of their fellow MSc students. Major employers invite UCL MSc graduates to apply for their roles.

Next steps


Ms Tina Fowler

T: +44 (0)20 3549 5375



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Faculty overview

Social and Historical Sciences


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Student View

"I was attracted to UCL by its unrivalled reputation as a world-leading academic institution. I was also particularly keen on becoming familiar with a very rigorous, technically demanding approach to the discipline and was sure UCL was the right place to find this."

Matteo Scattola

Degree: Economic Policy MSc

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"I chose to apply for graduate study at UCL because the programme was extremely attractive, the supervisors that I was going to work with were great, and because the environment at my department fosters healthy competition and self-development."

Javier Sajuria

Degree: PhD

Subject: Political Science, Faculty: Social and Historical Sciences