The MSc in Economics provides advanced, rigorous training in essential elements of economics – microeconomics, macroeconomics and econometrics – plus a range of specialist options covering theoretical and empirical approaches that reflect the interests of the staff in the School.

The MSc in Economics is a one year taught postgraduate programme run by the University of St Andrews' School of Economics and Finance.


  • In the 2014 UK Research Excellence Framework exercise, the School was ranked joint tenth in the UK and second in Scotland on the basis of the quality of its research publications, with over 80% of the research publications being classified as internationally excellent or world-leading.
  • Small group teaching allows a high level of student-teacher interaction, encouraging a warm and friendly learning environment.
  • The programme focus is to provide a self-contained, rigorous but relevant learning experience that prepares you either to start employment at a senior level in a wide variety of economics-related activities or to pursue further research.
  • You will learn the theoretical and empirical tools required to understand the increasingly complex and rapidly changing economy.
  • Supplementary lectures in mathematical and statistical methods are available at the beginning of the course.

Teaching format

The programme consists of traditional lectures, tutorials, seminars and computer lab work in small groups. Courses are assessed both continuously and with end-of-semester exams.

You will also complete a 15,000-word dissertation on a topic of your choice which is relevant and appropriate to the MSc.

Every MSc student is assigned an adviser at the beginning of the year. Your adviser will provide you with individual guidance on module choice and academic conduct.


Each compulsory module typically comprises:

  • 20 lecture contact hours.
  • 10 contact hours for seminars, workshops and tutorials.
  • intensive independent study.
  • 40% continuous assessment.
  • 60% assessment by written end-of-semester examination.


You must take three compulsory modules in the first semester. These are:

  • Econometric Methods and Applications: advanced level training in econometric methods.
  • Macroeconomics: advanced treatment of the core models and concepts used in modern macroeconomics.
  • Microeconomics: advanced treatment of the core models and concepts used in modern microeconomics.


In your second semester, you will have the opportunity to choose three modules from a selection of topics.

Examples currently include:

  • Behavioural Finance: examines the effects of behavioural biases in financial markets.
  • Econometric Time Series Analysis: advanced treatment of the core theory and practice of time series econometrics.
  • Experimental Economics and Finance: the methodology of experimental economics and the dialogue between theoretical and laboratory-based empirical work.
  • Financial Intermediation: main theoretical issues involved in financial intermediation with a focus on analytical models.
  • Game Theory: provides a thorough advanced treatment of the core models and concepts used in modern game theory.
  • International Trade and Migration: examines the causes and consequences of international trade and migration, combining theory with empirical applications.
  • Monetary Policy: key issues in monetary policy.
  • Portfolio Theory and Management: key issues in asset allocation and portfolio composition and management at an advanced level.

MSc Economics students may take up to one advanced undergraduate optional module (coded EC4xxx) in the second semester with the prior permission of the MSc Economics programme director.

The topics, and therefore module titles, vary year on year as they reflect staff research interests; in addition, optional modules require a minimum number of participants in order to be offered.


The final element of the MSc is a 15,000-word dissertation. The dissertation should be on an area of economics that you are interested in and chosen in discussion with your supervisor who will support you through the process.

You will receive training in Semester 1 in framing a hypothesis, conducting bibliographic research, writing a literature survey, and structuring a dissertation.

The modules listed here are indicative, and there is no guarantee they will run for 2019 entry.


There is a long-standing tradition of Economics graduates working in a wide variety of challenging and rewarding posts including:

  • academia
  • banking
  • commerce
  • diplomatic service
  • economics
  • finance
  • government
  • industry
  • insurance

They work in the UK, Europe, and North America, and more frequently in locations such as China, Taiwan, Hong Kong, Japan and Thailand.

The Careers Centre offers one-to-one advice to all students on a taught postgraduate course and offers a programme of events to assist students to build their employability skills.

Entry requirements

  • A 2.1-degree classification from a recognised UK university in Economics or a 2.1 joint Honours in Economics and another subject that includes substantial training in mathematics, statistics, microeconomics, macroeconomics and econometrics.
  • If you studied your first degree outside the UK, see the international entry requirements.
  • English language proficiency.

The qualifications listed are indicative of minimum requirements for entry. Some academic Schools will ask applicants to achieve significantly higher marks than the minimum. Obtaining the listed entry requirements will not guarantee you a place, as the University considers all aspects of every application including, where applicable, the writing sample, personal statement, and supporting documents.

Application requirements

  • CV or résumé. This should include your personal details with a history of your education and employment to date.
  • either a detailed personal statement including a list of current modules being undertaken (1,000 words) or a sample of academic written work (2,000 words).
  • two original signed academic references.
  • academic transcripts and degree certificates.
  • Evidence of English language proficiency (required if English is not your first language).


Recent Graduate Discount

The University of St Andrews offers a 10% discount in postgraduate tuition fees to students who are eligible to graduate or who have graduated from St Andrews within the last three academic years and are starting a postgraduate programme with the University of St Andrews.

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Last updated April 20, 2019
This course is Campus based
Start Date
Sep 9, 2019
1 year
9,000 GBP
UK and EU: £9,000; Overseas: £18,480
Aug 12, 2019
Applicants should apply as early as possible to be eligible for certain scholarships and for international visa purposes.
By locations
By date
Start Date
Sep 9, 2019
End Date
Sep 30, 2020
Application deadline
Aug 12, 2019
Applicants should apply as early as possible to be eligible for certain scholarships and for international visa purposes.

Sep 9, 2019

Application deadline
Aug 12, 2019
Applicants should apply as early as possible to be eligible for certain scholarships and for international visa purposes.
End Date
Sep 30, 2020

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