Economic Policy and Political Economy MPhil/PhD

London, Bloomsbury

Join the next generation of world-leading interdisciplinary scholars in economic and public policy, innovation policy and its governance. The Economic Policy and Political Economy MPhil/PhD prompts doctoral researchers to blend and synthesise different tools to offer truly interdisciplinary analyses on how public and economic policy and innovation can be harnessed to tackle global challenges.

UK students International students
Study mode
UK tuition fees (2025/26)
£6,215
£3,105
Overseas tuition fees (2025/26)
£29,800
£14,900
Duration
4 calendar years
5 calendar years
Programme starts
October 2025
February 2026
May 2026
Applications accepted
Applications are accepted on a rolling basis but should be submitted at least three months prior to your preferred start date.

Entry requirements

A minimum of an upper second-class UK Bachelor's degree and a Master's degree, or an overseas qualification of an equivalent standard, in a relevant subject, is essential. Exceptionally: where applicants have other suitable research or professional experience, they may be admitted without a Master's degree; or where applicants have a lower second-class UK Honours Bachelor's degree (2:2) (or equivalent) they must possess a relevant Master's degree to be admitted. We expect any successful application to include a sufficiently strong and convincing proposal, and those holding a Master's degree are typically well prepared to provide one. Relevant work experience is highly desirable.

The English language level for this programme is: Level 4

UCL Pre-Master's and Pre-sessional English courses are for international students who are aiming to study for a postgraduate degree at UCL. The courses will develop your academic English and academic skills required to succeed at postgraduate level.

Further information can be found on our English language requirements page.

Equivalent qualifications

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. Please note that the equivalency will correspond to the broad UK degree classification stated on this page (e.g. upper second-class). Where a specific overall percentage is required in the UK qualification, the international equivalency will be higher than that stated below. Please contact Graduate Admissions should you require further advice.

About this degree

The Economic Policy and Political Economy MPhil/PhD is centred on fostering path-breaking research into ways to understand public value and public purpose and enhance public and economic policy.

We have two routes that PhD students can pursue depending on their interests and background:

Economic Policy and Political Economy MPhil/PhD route

Our PhD in Economic Policy and Political Economy route is for students who are interested to explore the relationship between states and markets and the economic challenges facing modern capitalist economies. Our faculty and wider research community have a broad range of research interests in this field, covering both theoretical and more applied topic areas. This includes development economics and structural change, decolonisation economics, financial and macroeconomic policy, banking and money, political economy of science and technology, the economics of innovation and intellectual monopolies, ecological economics and green transition, sustainable finance, institutional and evolutionary economics and the economics of land and housing.

Innovation and Public Policy MPhil/PhD route

This route is an interdisciplinary Doctoral Research Programme focusing on rethinking innovation in the context of public value creation. The programme aims to develop the next generation of world-leading interdisciplinary scholars in innovation, industrial policy, public sector governance and public policy. This PhD focuses on providing you with a bespoke programme of scholarly development designed to improve applied conceptual, theoretical and analytical skills. Our key goal is to prompt doctoral researchers to blend and synthesise different disciplinary tools to offer truly interdisciplinary analysis on how innovation can be harnessed to tackle global challenges. There are no formal subject-based entry requirements for this route, however you should have a strong academic background and clear evidence of interest in their chosen topic.

Overall, the PhD involves independent research over a three-to-four-year period for full-time students, with mandatory research methods training in the first year. As a student of the Innovation and Public Policy PhD, you will receive the support of a minimum of two supervisors, with your primary supervisor being a faculty member of the UCL Institute for Innovation and Public Purpose, and your secondary supervisor either at the Institute or working within another department at UCL. As such, you will have regular meetings with your supervisors where you can exchange ideas and receive feedback on written work and guidance on relevant literature, research design and methods. We will also encourage you to present papers at conferences and share your research with your peers to receive important feedback that will guide your research.

Who this course is for

The UCL Institute for Innovation and Public Purpose is a policy-oriented institute, and we recognise the importance of our PhD students in contributing new knowledge to areas of policy research. As such, we bring together economists, philosophers, political scientists, designers, architects, anthropologists, and natural scientists to undertake research that rethinks innovation in the context of public value creation.

Applicants should be highly self-motivated, have a master’s degree and a passionate interest in a topic relevant to the Institute's research areas (see section on ‘Research areas and structure’ below), and some experience of independent research. 

What this course will give you

UCL has been ranked ninth best university in the world for the second year in a row, marking UCL’s 13th year among the top 10 universities worldwide (QS World University Rankings 2025). Across the university, UCL’s students and faculty are tackling grand challenges, ranging from climate change to healthcare for ageing populations. Our faculty features well-known names including Founder and Director of the UCL Institute for Innovation and Public Purpose Mariana Mazzucato and Graduate Tutor and Professor in Economics and Finance Josh Ryan-Collins, all situated within the heart of London, the best student city in the world (QS Best Student Cities Ranking 2025).

The UCL Institute for Innovation and Public Purpose leads the debate about the direction of economic growth and governments' use of mission-oriented policies to confront the world's most urgent challenges: from climate change to inequality and the problems facing aging societies. Our research uses multidisciplinary perspectives to rethink economics and economic policy and the ways in which innovation leads to transformative change. Our main focus is on new approaches to policy across a range of spheres, including innovation policy, industrial policy, digital innovation in public and private sectors, environmental policy and macroeconomic and financial policy.

As well as the opportunity to focus on new approaches to policy across a range of spheres from multidisciplinary perspectives at the Institute, the Economic Policy and Political Economy MPhil/PhD will offer you research skills training delivered through a Research Methods series, regular PhD seminars for you to present new work to your peers, and we invite guest speakers to our research seminar series. These training sessions will develop your capabilities to research and collaborate between actors – skills needed within both public and private spheres to drive innovation across society-wide missions.

Not only will you be studying course content that matters both to your future career and to tackling the grand challenges of the 21st century, but you will also gain access to an active and growing alumni network, exchanging knowledge and skills with like-minded individuals  from across the globe who are experienced in the realms of public policy, organisational and institutional innovation, and strategic design and digital transformation of public services.

The foundation of your career

100% of UCL Institute for Innovation and Public Purpose graduates were in highly skilled work 15 months after graduation (HESA Graduate Outcomes Survey 2017-21).

Top industry sectors for UCL Institute for Innovation and Public Purpose graduates are scientific research, development and analysis (50% of graduates); consultancy (17%); and policy and government (17%) (HESA Graduate Outcomes Survey 2017-21).

Example jobs:

  • Economist
  • Statistician
  • Social and humanities scientist
  • Business and research professional
  • Business manager/director.

Example employers:

  • Canadian Government
  • Centre for Local Economic Strategies
  • Chambers and Partners
  • City of London Corporation
  • Urban Renewal Authority
  • Local and district councils
  • Digital Catapult
  • PPL  
  • Cabinet Office  
  • Centre for Public Impact  
  • Financial Times
  • HM Revenue & Customs
  • Department for Culture, Media and Sport.

Many public sector organisations, policy think tanks and other policy analysis organisations, NGOs and large private organisations are looking for employees who are well-versed and skilled in new ways of justifying, evaluating and implementing public policies, and as a student of the Economic Policy and Political Economy MPhil/PhD you will be supported through your research to respond to the changing demands of these organisations.

With a unique set of skills, including analysis, leadership, public policy, organisational and institutional innovation, new models of innovation policy (mission-oriented innovation), and strategic design and digital transformation of public services, our graduates are sought-after for their knowledge and new thinking on public sector innovation and innovation policy, as well as for their connection to the globally recognised policy work of the UCL Institute for Innovation and Public Purpose.

Employability

The world is facing pressing challenges - social, technological and economic. What is the future of the welfare state? How can digital platforms be governed in democratic and inclusive ways? What new forms of investment, regulation and collaboration can best tackle global warming?

The answers to these questions require public and private organisations to collaborate in new ways and become more purpose-driven. In this context, governments require different tools and capabilities to co-create and co-shape markets, not just fix market failures. The Economic Policy and Political Economy MPhil/PhD nurtures the research capabilities of the next generation of world-leading interdisciplinary scholars in innovation theory, public policy, economics of innovation, innovation policy and its governance.

Networking

Gain exclusive opportunities to network with a wide range of organisations within the United Kingdom and around the globe, with your peers already working in the public sector, and with the Institute’s academics through our partnership programme, Mission-Oriented Innovation Network (MOIN), which is the UCL Institute for Innovation and Public Purpose’s policy network and peer-learning platform bringing together global public sector organisations to share the challenges and opportunities they face when tackling the grand challenges of the 21st century. For example, PhD students have supported the UCL Institute's annual MOIN conference over the past few years.

All PhD students are also encouraged to gain valuable teaching experience and additional income by becoming postgraduate teaching assistants to master’s students on our Innovation, Public Policy and Public Value MPA. You can also choose to teach on a number of different modules depending on your background and interests.

Faculty from the UCL Institute for Innovation and Public Purpose are active within their research and policy active and frequently have opportunities for PhD students to support you with paid research or policy engagement activities in fields related to your studies. You will also be encouraged to apply for additional small funding pots to further support their research. 

Teaching and learning

Develop your research skills
The Economic Policy and Political Economy MPhil/PhD will also offer you research skills training delivered through a Research Methods series which addresses methodological and ethical challenges, regular PhD seminars for you to present new work to your peers, and we invite guest speakers to our research seminar series. These training sessions will develop your capabilities to research and collaborate between actors – skills needed within both public and private spheres to drive innovation across society-wide missions.

PhD upgrade
For both routes, in your first year, you will be registered as an MPhil candidate and will then be expected to upgrade to PhD status within 18 months of registration. The upgrade process is an opportunity for you to present an in-depth research proposal that hones in on a specific area of study, and to look at preparation and resources required in order to complete the full PhD on time. Your primary supervisor and subsidiary supervisor will then provide you with feedback and guidance, and render a decision to upgrade you or not. Full details of the upgrade procedure can be found on the UCL website.

Formal PhD supervision is provided over three years after which time you should have completed your research and have an initial draft completed. You may apply for ‘continuing research status’ (CRS) to write up your thesis in your fourth year if needed but only informal supervision will be provided.

The programme includes research skills training provision including a Research Methods series, regular PhDs seminars for peers to present new work and invited speaker research seminar series.

The Doctor of Philosophy (PhD) consists of a piece of supervised research, normally undertaken over a period of three years full-time. Assessment is by means of a thesis, which should demonstrate your capacity to pursue original research based upon a good understanding of the research techniques and concepts appropriate to the discipline.

A typical full-time PhD student is expected to spend an average of approximately 36.5 hours per week working on their PhD, although this will vary, with some periods of more intensive research.

Research areas and structure

Research at the UCL Institute for Innovation and Public Purpose is driven by three cross-cutting themes - innovation, public value and inclusive growth – which address how public value is imagined, practised and evaluated to tackle societal challenges to achieve sustainable, inclusive and innovation-led growth.

The current streams of our research explore the following areas:

  • Public value and public purpose
  • Governance and digital transformation
  • The state's role in technological revolutions
  • Green economy for sustainable growth and sustainable finance
  • Development economics
  • Macroeconomic and financial policy
  • Mission-oriented innovation policy
  • Patient finance, state investment banks and public finance
  • Rethinking health innovation
  • Risks and rewards.

The Institute works closely with partners and funders on research projects in these streams to encourage new thinking and debate.

Course structure

In your first year, you will be registered as a candidate of the Economic Policy and Political Economy MPhil. If you wish to proceed to a PhD, you will be required to pass an Upgrade assessment which is an opportunity for you to present an in-depth research proposal that hones in on a specific area of study, and to assess your progress and ability to complete the PhD to a good standard within a reasonable timeframe. We expect our full-time students to attempt upgrade within 18 months of registration.

Once you have passed your upgrade and proceed to the Economic Policy and Political Economy PhD, you will complete a piece of supervised research which is normally undertaken over a period of three years full-time. Your research will be assessed as a thesis, which should demonstrate your capacity to pursue original research based upon a good understanding of the research techniques and concepts appropriate to the discipline.

Research environment

PhD supervision and the PhD journey

To support you in your PhD, you will receive the support of a minimum of two supervisors, with your primary supervisor being a faculty member of the UCL Institute for Innovation and Public Purpose. Our faculty at the UCL Institute for Innovation and Public Purpose have strong relationships with many other departments and can advise students on subsidiary supervision. Your secondary (or subsidiary) supervisor will either be from the Institute or working within another department at UCL. Subsidiary supervisors will not normally be faculty staff but may be chosen from the wider research community at the UCL Institute for Innovation and Public Purpose (Research Fellows or Honorary Research Fellows/Professors) or be based at another department at UCL. You may also propose additional (tertiary) supervisors who can be from other external universities where appropriate.

As such, you will have regular meetings with your supervisors where you can exchange ideas and receive feedback on written work and guidance on relevant literature, research design and methods. The number of times you meet with your supervisor is agreed upon consultation with your primary supervisor. We also encourage our PhD students to present papers at conferences and share their research with peers to receive important feedback that will guide your research.

The Economic Policy and Political Economy MPhil/PhD completed in a full-time mode will normally take four calendar years.

Primarily, you will conduct independent research with the guidance of two supervisors. You will have a close one-to-one working relationship with your primary supervisor at the UCL Institute for Innovation and Public Purpose, and receive additional guidance from your secondary supervisor, either working within the Institute or from another department within UCL. Your supervisors may suggest that you enrol in, or audit, additional taught modules to supplement your research. The auditing of taught modules is not a formal part of the Economic Policy and Political Economy MPhil/PhD, and so is not formally assessed.

The Economic Policy and Political Economy MPhil/PhD completed in a part-time mode will normally take five calendar years.

Primarily, you will conduct independent research with the guidance of two supervisors. You will have a close one-to-one working relationship with your primary supervisor at the UCL Institute for Innovation and Public Purpose, and receive additional guidance from your secondary supervisor, either working within the Institute or from another department within UCL. Your supervisors may suggest that you enrol in, or audit, additional taught modules to supplement your research. The auditing of taught modules is not a formal part of the Economic Policy and Political Economy MPhil/PhD, and so is not formally assessed. 

Accessibility

Details of the accessibility of UCL buildings can be obtained from AccessAble. Further information can also be obtained from the UCL Student Support and Wellbeing Services team.


Fees and funding

Fees for this course

UK students International students
Fee description Full-time Part-time
Tuition fees (2025/26) £6,215 £3,105
Tuition fees (2025/26) £29,800 £14,900

Additional costs

As a research student, your additional costs may include expenses such as books, conference attendance and field research, in the UK or overseas.

UCL’s main teaching locations are in zones 1 (Bloomsbury) and zones 2/3 (UCL East). The cost of a monthly 18+ Oyster travel card for zones 1-2 is £114.50. This price was published by TfL in 2024. For more information on additional costs for prospective students and the cost of living in London, please view our estimated cost of essential expenditure at UCL's cost of living guide.

Funding your studies

In our faculty, The Bartlett Promise Scholarship aims to enable students from backgrounds underrepresented in the built environment to pursue PhD studies. Please see the UK PhD scholarship page for more information on eligibility criteria, selection process and FAQs. 

Any additional funding available from the UCL Institute for Innovation and Public Purpose and the Built Environment Faculty Office will be advertised on the respective websites. 

For a comprehensive list of the funding opportunities available at UCL, including funding relevant to your nationality, please visit the Scholarships and Funding website.

Next steps

Our application process takes place in two parts: the first part is informal and focused on providing you with feedback on your research proposal and how it fits within the work of the UCL Institute for Innovation and Public Purpose. The second part comprises the formal UCL application.

Step one:

The first step in applying to the Economic Policy and Political Economy MPhil/PhD is to identify a supervisor who you think would be suitable for your chosen topic. We encourage you to carefully examine the available primary supervisors at the UCL Institute for Innovation and Public Purpose and reach out to them informally to see if they would be interested in your topic area. If you receive positive feedback, the next step is to complete the expression of interest form. This form asks you to provide your CV as well as a template for you to enter information about your proposed research.

A PhD committee reviews these expressions of interest approximately monthly and is particularly interested in the quality of the proposed project, the fit within the Institute's work, and the availability of the appropriate supervisors. You will then be informed as to whether the committee believes that we would be able to support your PhD work.

In the case of a positive assessment, you will likely be asked to have an interview with members of faculty or to further develop your proposal. It is also likely that your proposal will go through multiple rounds of revision before you as a candidate are invited to progress. However, in some cases, you may be encouraged to submit a formal application right away.

Step two:

In the second step, you will be asked to make a formal application via the UCL graduate prospectus.

Please note: You may wish to skip straight to step two, however in this case you may miss out on the opportunity for feedback from the faculty at the UCL Institute for Innovation and Public Purpose on your research proposal and reduce your chances of being accepted.

Following your application

After you have submitted your formal application to the Economic Policy and Political Economy MPhil/PhD via the UCL graduate prospectus, the university will conduct several checks to ensure you are eligible to study at UCL.

Once your application has been processed by the admissions office, it is returned to the PhD Committee. In some cases, you may be invited to interview (particularly if you had not previously been invited). Your interview may take place in person, or by phone, by video or by email, and aims to explore further your ideas, skills, experience and commitment to doctoral research.

Subsequently, the PhD Committee will make a decision on your application. The Committee aims to deliver the decision on your application within six working weeks of receiving a complete application and references, however, this may take longer.

Ultimately, the Graduate Admissions Office will contact you with an official, binding offer. Upon acceptance, the UCL Institute for Innovation and Public Purpose will be in touch to inform you of important details about starting your studies, including start dates and supervision. 

Please note that you may submit applications for a maximum of two graduate programmes (or one application for the Law LLM) in any application cycle.

Choose your programme

Please read the Application Guidance before proceeding with your application.

Year of entry: 2025-2026

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