UCL Graduate degrees


Economics MRes + MPhil/PhD

UCL Economics is a world-class academic department with a commitment to research excellence. The Economics MRes + MPhil/PhD aims to attract, educate and develop students of the highest academic calibre. Our graduates are employed by the world’s foremost academic, international and governmental institutions.


Key information

Programme starts

September 2020

Modes and duration

Full time: 4 years
Part time: 7 years

Application dates

All applicants
Open: 1 November 2019
Close: 13 January 2020

Tuition fees (2020/21)

£20,000 (FT)
£10,160 (PT)
£20,000 (FT)
£10,160 (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 Students website.

Location: London, Bloomsbury

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.

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.

International students

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:


UCL Economics has an outstanding international reputation in the areas of game theory, fiscal policy, 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. UCL Economics was the top-ranked department in the UK for Economics and Econometrics in the Research Excellence Framework 2014, as well as the top-ranked department in any field in any UK university, according to the grade point average on the overall score. This reflects the high quality of policy-relevant academic research being undertaken by staff, and the excellent research and teaching environment for graduate students.

Research areas

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

  • Centre for Microdata, Methods and Practice (Cemmap)
  • Centre for Research and Analysis on Migration (CReAM)
  • Centre for Microeconomic Analysis of Fiscal Policy, 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)
  • The Institute for Fiscal Studies
  • Centre for Macroeconomics
More information can be found on the department website: Economics MRes + MPhil/PhD

About this degree

For further information about the curriculum please visit: https://www.ucl.ac.uk/economics/study/postgraduate/curriculum

Please note that the list of modules given here is indicative. This information is published a long time in advance of enrolment and module content and availability is subject to change.


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


We have recently reformed our funding system. Briefly, if you join us, from the MPhil onwards, for at most 5 years, each year you can expect:

1) 2K as a bursary;

2) 5K as a scholarship (this is conditional on you not having another scholarship of at least 10K and will be awarded based on applications);

3) to teach at least 0.5 teaching load as a TA (~226 hours per year). Teaching 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 13.7K (7K as scholars


Scholarships relevant to this department are displayed below.

UCL Research Opportunity Scholarship

Deadline: 10 January (for application of admission to UCL)
UK/EU rate fees, a maintenance stipend, conference costs and professional development package (3 years)
Based on both academic merit and financial need

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


In recent years, our PhD students have obtained posts in leading universities and research centres such as University of Chicago, University of Arizona, Carlos III University, Edinburgh University, University of Manchester, NYU Stern School of Business, Pompeu Fabra University, Princeton University, Singapore Management University, Sogang University, Stanford University, Stockholm University, UBC, UCLA, University of British Columbia, University of Essex, University of Mannheim, University of Oxford, University of Rochester, University of Texas at Austin and University of Wisconsin. They have also done very well in policy institutions, such us the Bank of England, EBRD, IFS, McKinsey, RAND Corporation and the World Bank.


Undertaking the UCL Economics doctorate programme affords students excellent networking opportunities from the outset, and outstanding employment options upon completion. The department is committed to maximising PhD students’ ability to gain employment in leading academic departments, research centres and financial and public policy organisations worldwide. The rigorous doctoral programme ensures students graduate with a wide range of highly valued technical, analytical, teaching and research skills. Senior PhD students have the option to go on the Economics Job Market.


The wealth and diversity of major research centres within the department, as well as the high degree of interaction with visiting academics and researchers means our doctoral candidates are not only exposed to, but actively engage with, the dominant social and economic issues determining contemporary research agendas, as well as with the professors and professional researchers examining these issues. The department’s participation in the ENTER Exchange programme facilitates interaction with fellow doctoral candidates at other centres of academic excellence, and the department’s doctoral candidates often take up research posts at leading international academic institutions during their PhD.

Why study this degree at UCL?

UCL Economics has an outstanding international reputation in key areas of current research. It is the only department of economics in the UK to have received the grade point average of 3.78 (out of 4) in the 2014 REF, with 79% of all indicators of output rated at the highest 4* level.

According to the grade point average (GPA) on the overall score, the REF 2014 ranked UCL Economics as:

  • the top department in the UK in the field of economics and econometrics
  • the top department at UCL
  • the top department in any field in any university in the UK.

The extraordinarily positive outcome of the REF 2014 documents the department's outstanding quality in research. It is the fruit of many years' hard work aimed at producing a world-leading department excelling in frontier-shifting and policy-relevant research. This research excellence is matched by the department's provision of a stimulating, intellectual and supportive research environment including state-of-the-art facilities and a dedicated PhD resesarch wing, complete with desk space for all MPhil and PhD candidates.

Our doctoral students often take up visiting research posts within leading economics departments worldwide, may participate in the ENTER exchange programme and may also gain valuable teaching experience as departmental teaching assistants.

Department: Economics

What our students and staff say

Student review

"Excellent faculty members and qualified research students to communicate with."

Jihyun Bae

Economics MPhil

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.

Application deadlines

All applicants
13 January 2020

For more information see our Applications page.

Apply now

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Page last modified on 31 July 2020