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.
Modes and duration
Tuition fees (2017/18)
- £19,390 (FT) £9,840 (PT)
- £25,130 (FT) £12,570 (PT)
Note on fees: The tuition fees shown are for the year indicated above. Fees for subsequent years may increase or otherwise vary. Further information on fee status, fee increases and the fee schedule can be viewed on the UCL Current Students website.
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 and the verbal score must be 150 or above (post-August 2011 scores).
English language requirements
If your education has not been conducted in the English language, you will be expected to demonstrate evidence of an adequate level of English proficiency.
The English language level for this programme is: Good
Further information can be found on our English language requirements page.
Country-specific information, including details of when UCL representatives are visiting your part of the world, can be obtained from the International Students website.
International applicants can find out the equivalent qualification for their country by selecting from the list below.
Select your country:
About this degree
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 to use the formal tools that are necessary to understand and conduct cutting-edge research in both theoretical and applied economics.
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).
- Research Methods
- At least two of the following advanced core modules:
- Advanced Macroeconomic Theory
- Advanced Microeconometrics
- Advanced Microeconomic Theory
- Time Series Econometrics
- Remaining applied options (taking the total to four) from a list including:
- 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
- Topics in Money and Finance
- Economics of Households
- Environmental Economics: Principle and Policy
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.
Scholarships relevant to this department are displayed below.
- £12,500 (1 year)
- UK, EU
- Based on financial need
- £5,000 (1 year)
- UK, EU, Overseas
- Based on academic merit
For a comprehensive list of the funding opportunities available at UCL, including funding relevant to your nationality, please visit the Scholarships and Funding website.
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 of Health: assistant economist
- Department of Energy and Climate Change: economic advisor
- Government Economic Service: economic advisor
- HM Treasury: analyst
- Cabinet Office: chief advisor
- Oxera: consultant
- Oxford Economics: economist
- Credit Suisse: economist
- British Airways: analyst
- ING Bank: analyst
- Deloitte: associate economist
- KPMG: economist
- 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)
Top career destinations for this degree
- Macro Research Intern, Threadneedle Investments
- Business Analyst, Sriram Mahendran Economics
- Research Assistant, Overseas Development Institute
- Civil Services Examination, Union Public Service Commission (UPSC)
- PhD Game Theory, LSE (The London School of Economics and Political
The UCL Economics MSc is a passport to a career in major national and international institutions that demand the deeper, more rigorous analytical reasoning in economics. 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 roles.
Careers data is taken from the ‘Destinations of Leavers from Higher Education’ survey undertaken by HESA looking at the destinations of UK and EU students in the 2012–2014 graduating cohorts six months after graduation.
Why study this degree at UCL?
UCL Economics has an outstanding international reputation in the areas of game theory, macroeconomics, industrial organisation, econometrics, applied microeconomics, development and labour economics. 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. The Research Excellence Framework 2014 ranked the UCL Economics first in the UK for economics and econometrics, as well as the leading department in the UK in any field in any university. This reflects the high quality of policy-relevant academic research being undertaken by staff, and the excellent research and teaching environment for graduate 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.
Student / staff numbers
› 65 staff
including 12 postdocs
› 130 taught students
› 87 research students
Staff/student numbers information correct as of 1 August 2017.
Research Excellence Framework (REF)
The Research Excellence Framework, or REF, is the system for assessing the quality of research in UK higher education institutions. The 2014 REF was carried out by the UK's higher education funding bodies, and the results used to allocate research funding from 2015/16.
The following REF score was awarded to the department: Economics
70% rated 4* (world-leading) or 3* (internationally excellent)
Learn more about the scope of UCL's research, and browse case studies, on our Research Impact website.
What our students and staff say
"The excellent reputation of UCL Economics and the quality of the research attracted me to take up my position at UCL. I work on econometrics (statistical methods used by economists), and it was also important for me that UCL has a large and internationally renowned Econometrics Group, and that the ESRC funded Centre for Microdata Methods and Practice (CeMMaP) attracts numerous international visitors and organises many conferences, workshops and masterclasses every year. More recently I got interested in social networks and social interactions. We live in a time where an increasing amount of data becomes available from all aspects of social and economic life, and new and sophisticated statistical methods have to be developed to analyse those new sources of data, and my goal is to contribute to these developments."
Dr Martin WeidnerEconomics MSc
Application and next steps
Students are advised to apply as early as possible due to competition for places. Those applying for scholarship funding (particularly overseas applicants) should take note of application deadlines.
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.
- All applicants
- 1 March 2017
Please make only one application to the Economics Department's MSc programmes (Economics MSc and Economics Policy MSc).
For more information see our Applications page.Apply now
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 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 Master's 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
- details of your skills in mathematics, calculus, probability and statistics, or linear algebra
- any skills you have with spreadsheets, statistical software, mathematical programming or working with data