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Economics MRes + MPhil/PhD

London, Bloomsbury

Embark on a four-year journey of academic development at UCL Economics, home to research centres engaged in work of both national and international importance. Under close mentorship from globally-renowned academics, you'll build advanced-level economics expertise and research skills during your MRes, and apply this to the in-depth analysis of your PhD thesis. Take up visiting research posts worldwide, grow your network and prepare for a career in academia, international policy institutions or government

UK students International students
Study mode
UK tuition fees (2025/26)
£29,800
£14,900
Overseas tuition fees (2025/26)
£29,800
£14,900
Duration
4 calendar years
7 calendar years
Programme starts
October 2025
February 2026
May 2026
Applications accepted
All applicants: 14 Oct 2024 – 13 Jan 2025

Applications closed

Entry requirements

Applicants must have a Master’s degree in Economics or closely related subject with distinction-level performance. Applicants must demonstrate that they are qualified to proceed to research work. The GRE General Test is a required part of the application, except for applicants with an Economics MSc from UCL or those currently enrolled on the UCL Economics MSc programme.

The English language level for this programme is: Level 2

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 MRes programme is expertly designed to train and prepare you to conduct research in pursuit of a PhD degree. In joining this programme, you are embarking on a career as a research-focused academic. 


 

Who this course is for

The programme is suitable for applicants with a master’s degree in economics or related subject who wish to undertake independent research.

Read about what it takes to become a UCL graduate research student

What this course will give you

UCL Economics has an outstanding international reputation in key areas of current research. Join our truly international, research-led community and you'll learn to identify, analyse and tackle social, economics and policy problems in our rapidly changing global village. You'll receive world-leading, expert training and guidance in your research journey, enjoying a vibrant, collegiate culture of academic curiousity, public engagement and positive change. 

Find out how your research could have an impact

The foundation of your career

In recent years, our PhD students have been appointed to posts in world-leading universities and research centres including University of Oxford, Princeton University, Stanford University, UCLA, University of Chicago, Carlos III University of Madrid, Pompeu Fabra University, Stockholm University and Sogang University. Other graduate destinations also include policy institutions including the Bank of England, EBRD, IFS, McKinsey, RAND Corporation and the World Bank.

Employability

The community of postgraduate and academic economists is well connected and close. Many of our PhD students continue to work with their supervisors and academic faculty on collaborative research projects and visit the department for research meetings and events.

Networking

UCL Economics has several active research seminar series in which leading scholars from around the world present their research. Our graduate students attend and participate in seminars, workshops and conferences in the department and interdisciplinary research centres across UCL, providing opportunities to network with leading academics across a variety of research fields. We encourage PhD students to visit and study at prominent research institutions on a temporary basis (for up to one year) to experience different research environments and form new research partnerships. The department provides financial support to research students who would like to  attend conferences and/or run experiments in relation to their research activity.

Teaching and learning

Through Terms 1 and 2, the main teaching methods are conventional lectures and classes in Macro, Micro theory, Econometrics and Real Analysis.

The dissertation encourages students to consider the topic they plan to write a PhD thesis on by surveying the literature and forming a research plan.

Students benefit by being taught by faculty staff actively researching in the areas they will write a thesis on.
 

Term 1 modules are assessed by the submission of coursework for microeconomics and mid-term written examinations for Real Analysis, Macroeconomics and Econometrics.

Term 2 modules are assessed by written examinations.

Term 3 is assessed by the dissertation.

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

UCL Economics is host to, and affiliated with, numerous research centres conducting cutting-edge research of national and international importance. These include:

  • Centre for Research and Analysis on Migration (CReAM)
  • Centre for Finance (CfF )
  • Centre for Macroeconomics (CfM)
  • The Institute for Fiscal Studies (IFS)
  • Centre for Microdata, Methods and Practice (Cemmap, Institute for Fiscal Studies)
  • Centre for Microeconomic Analysis of Public Policy (CPP, Institute for Fiscal Studies)
  • Centre for the Evaluation of Development Policies (EDePo, Institute for Fiscal Studies)
  • New Opportunities for Research Funding Agency Co-operation in Europe (NORFACE)

Research environment

The Department of Economics placed #1 for research environment and outputs in the 2021 Research Excellence Framework (REF) and ranked #3 overall. 

UCL Economics was first for 4* world-leading research outputs and research environments, with scores of 72% and 100% respectively. 

The doctoral programme at UCL aims to teach economists to conduct research of high academic merit and make original contributions to the subject. 

The department has a lively and active research environment, with a strong emphasis on team research, based around a number of major research groups and centres. With close ties to several research centres, students are surrounded by some of the best researchers in their field.

The MRes programme is one year of full-time study.

The MRes programme will provide you with training in research methods in Real Analysis and Probability, Microeconomics, Macroeconomics and Econometrics.

You will be required to write a dissertation. The dissertation is an individual research project, supervised by a faculty member, to assess your self-reliance and capacity for independent research in preparation for the subsequent MPhil/PhD years.

The subsequent years (for students who are admitted to the MPhil/PhD programme) will focus on the skills you will need to conduct your own research projects and present research findings to specialised audiences. Teaching skills will also be developed.

MPhil/PhD
The MPhil/PhD programme is normally three years of full time study; however, students typically take four years to complete it.

MPhil Year One:
On successful completion of the MRes year, you will start working on your thesis and undertaking research as an MPhil student. You will continue taking advanced training and methodology courses.

You can find a list of field courses here.

At the end of this year, you will present your research at an Upgrade Seminar and a panel of faculty members will determine your progression to PhD status.

PhD Year Two:
You will continue to work on your research and thesis. 

PhD Year Three:
You will work on your Econ Job Market paper. By the end of this year, you will be expected to take up Completing Research Status (CRS).
 

Students wishing to study the MRes programme on a part-time basis will be required to register for two core modules in the first year, one of which must be the Real Analysis module. In your second year, you will complete the remaining compulsory modules and write your dissertation.

Fieldwork

Several of our PhD students undertaking research in applied fields have s been awarded funding to conduct their own fieldwork, while many others have done so through collaborations and research assistance work with their supervisors.

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) £29,800 £14,900
Tuition fees (2025/26) £29,800 £14,900

The tuition fees shown are for the year indicated above. Fees for subsequent years may increase or otherwise vary. Where the programme is offered on a flexible/modular basis, fees are charged pro-rata to the appropriate full-time Master's fee taken in an academic session. Further information on fee status, fee increases and the fee schedule can be viewed on the UCL Students website: ucl.ac.uk/students/fees.

Additional costs

There are no additional costs for this programme.

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

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

See all the ways you can fund your studies

UCL Research Opportunity Scholarship (ROS)

Deadline: Deadline: NOW CLOSED FOR 2025/26
Value: UK rate fees, a maintenance stipend, conference costs and professional development package (3 years)
Criteria Based on both academic merit and financial need
Eligibility: UK

Wolfson Postgraduate Scholarships - SHS

Deadline: 31 January 2025
Value: Full tuition fees plus £28,840 stipend for full time study ('pro rata' for part-time students) (3 years)
Criteria Based on academic merit
Eligibility: UK, EU, Overseas

Next steps

The GRE General Test is a required part of the application, except for applicants with an Economics MSc from UCL or those currently enrolled on the UCL Economics MSc programme.

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.

Got questions? Get in touch

Economics
Economics

uctppg1@ucl.ac.uk

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