UCL Department of Economics


Sources of Funding

Funding Source  - Departmental                                        


The department provides financial support for students towards the payment of tuition fees, living cost, and research expenses.

The form and amount of support that is available, as well as eligibility criteria, differ between the MRes and MPhil/PhD years, and are independent of Home/EU/Overseas status.

For the MRes year

All MRes offer holders may be awarded a tuition fee offset scholarship to partially or totally offset the £20,000 tuition fee.

  • Students without external funding may be awarded a scholarship amount of up to £20,000 (full offset of tuition fees).
  • Students with external funding providing £X towards tuition fees may be awarded a scholarship amount of up to £20,000 - X (partial offset of tuition fees).

Scholarships will be awarded based upon the merits of each application. Information to offer holders about whether they are given a scholarship, and if so for what amount, is sent along with the offer letter.

For the MPhil and PhD years

MPhil and PhD students may apply for a tuition fee offset scholarship under the same conditions and for the same amounts as in the MRes year. If you require a tuition fee offset scholarship Fileplease fill out this form and email to Daniella Harper (daniella.harper@ucl.ac.uk)  by 30th June.

In addition, MPhil and PhD students can expect the following support with living expenses (each year, for at most five years):

  • a bursary of £2,000;
  • a scholarship of £5,000 (conditional on not having another scholarship from a different source of £10,000 or more);
  • to teach at least 0.5 teaching load as a TA (~226 hours per year), with the option of going for a full load (~452 hours per year). Teaching is mandatory in the MPhil and PhD years. It is a vital part of your training and is paid in addition to the scholarships above.

A student who teaches a full load (~452 hours per year) will earn approximately £13,700 (£7,000 as scholarships and the remaining sum as payment for teaching). A student teaching a half load can expect approximately £10,000 (£7,000 from scholarships and £3,300 from stipend).  If you have any questions regarding your teaching contract, please contact Anaclara, HR & Finance Administrator, anaclara.emmanuel@ucl.ac.uk.

Finally, in terms of research support, the department has a limited amount of money per year to be awarded to MPhil and PhD students to assist with funding general research activity if relevant to the programme of study. In particular:

The James Lanner Memorial Scholarship

The James Lanner Memorial Scholarship offers £10,000 each year to a UK, EU or Overseas student applying for an MRes degree at UCL Economics. The Scholarship was established in memory of James Lanner, who began his distinguished career at the London School of Economics. Having gained a first class degree, he taught at a number of institutions, including Cardiff University and University College London. In 1953, he moved to Paris to work for the Organisation for European Economic Co-operation (now the OECD). In 1965, after a short spell in industry, he moved to Geneva to work for the European Free Trade Association where he became Head of the Economic Department until his retirement. Consideration for The James Lanner Scholarship will be made at the application stage. There is no separate application process for departmental scholarships. Only those shortlisted for departmental scholarships will notified.

Scholarship for Financial Economics

A Scholarship for Financial Economics is available to MRes Economic students who are interested in undertaking research in Financial Economics. The value of this scholarship is £5,000. Application Procedure: Consideration for departmental scholarships is made when we make decisions on applications for admission.


Funding Source  - UCL Scholarships                                                                                        

Poster Competition Prize Page UCL Doctoral School Research Poster Competition 2019.

Overseas Research Scholarships The UCL Overseas Research Scholarships (UCL-ORS) aim to attract high-quality international students to UCL to undertake research. 

Graduate Research Scholarships UCL Graduate Research Scholarships (GRS) aim to attract high-quality students to undertake research at UCL. Up to 25 UCL Graduate Research Scholarships (GRS) are available annually to prospective and current UCL research students from any country. Scholarships are awarded on the basis of academic excellence and research potential. Financial circumstances are not taken into account.    

CSC Partially-Funded Visiting Research Scholarships UCL offers a number of fee-only scholarships to match CSC-funded one-year Visiting Research Scholarships. This is to encourage research collaborations with top Chinese laboratories for mutually beneficial research projects that may lead to co-funding opportunities from other sources. Further information on this scheme can be found on the UCL CSC webpage.

Research Project Funds UCL offers a range of financial awards aimed at assisting both prospective and current students with their studies. 

Frederick Bonnart-Braunthal Scholarship The scheme is aimed at research students who plan to explore the nature of religious, racial and cultural prejudices and to find ways of combating them.  

PhD scholarships for UK BME students Committed to diversifying the student community at doctoral level, UCL is launching an ambitious programme that aims to create over 15 new scholarships for black and minority ethnic (BME) postgraduate research students. 

UCL Research Opportunity Scholarship UCL's Research Opportunity Scholarship (UCL-ROS) is intended to support BME postgraduate research degree students.

The Windsor Fellowship Windsor Fellowship is working with UCL to launch a new scholarships programme to support BME postgraduate research degree students – The UCL Research Opportunity Scholarship (UCL-ROS). The scheme offers full financial support and a skills development programme, both designed to promote academia as a more attractive career option.

UCL ChangeMakers

UCL ChangeMakers is offering funding to student-staff partnership teams looking to enhance the experience of postgraduate research students undertaking their PhDs or doctorates at UCL.

Further information is available on this webpage here and on moodle here

Funding Source  - External Funding                                

ESRC Postgraduate Studentship UCL is an ESRC Designated Doctoral Training Centre (DTC). To apply for an ESRC studentship you will apply to the ESRC via UCL. 
The DTP is able to offer six ESRC Postdoctoral Fellowships this year.

The Royal Economic Society one-year junior fellowships Universities are invited to make application for the awards in the Spring of each year. Applications can only be submitted by the candidate’s Head of Department. Candidates should have completed at least two years' work towards a doctoral thesis when they take up an award.

Funds for Women Graduates This funding opportunity applies to Women who are in the final year of their studies.

Club Financiero Español Scholarship These scholarships are targeted to support the most outstanding Spanish PhD scholars at University College London. The Scholarships are provided for the whole duration of the PhD programme. The scholarships are open to PhD scholars, residents of Spain or of Spanish nationality, of intellectual excellence and of irrefutable moral standing. The Scholars are required to be committed to the economic development of Spain and her people.

The Bank of Italy awards the "Bonaldo Stringher", "Giorgio Mortara" and Donato Menichella" to allow your graduates to complete their studies in specific fields / thematic topics of interest to the Institute. Each Scholarship is related to a particular field.


The Alan Turing Institute Studentships The Alan Turing Institute offers a number of places each year to graduate students to complete a PhD through the Institute and one of our university partners. Our doctoral studentship scheme combines the strengths and expertise of our partners with the Turing’s unique position as the UK’s national institute for data science, to offer an exceptional PhD programme.

Institute For Fiscal Studies Graduate Scholarship Programme The IFS Graduate Scholarship Programme is open to UCL students. Under the programme, students will undertake research leading to a PhD and must be following an ESRC-accredited pathway. For deadlines, how to apply and details of eligibility check the IFS website.