MSc in Economics
Saint Andrews, United Kingdom
DURATION
1 Years
LANGUAGES
English
PACE
Full time
APPLICATION DEADLINE
07 Aug 2025
EARLIEST START DATE
Sep 2025
TUITION FEES
GBP 25,880 / per year *
STUDY FORMAT
On-Campus
* overseas / home: £11,680
Introduction
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.
Course details
The MSc in Economics is a one-year taught postgraduate program run by the School of Economics and Finance.
Highlights
- You will learn the theoretical and empirical tools required to understand the increasingly complex and rapidly changing economy
- Small group teaching allows a high level of student-teacher interaction, encouraging a warm and friendly learning environment
- Supplementary lectures in mathematical and statistical methods are available at the beginning of the course
- The program's 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
Admissions
Curriculum
The modules published below are examples of what has been taught in previous academic years and may be subject to change before you start your programme.
Each compulsory module typically comprises:
- 20 lecture contact hours
- 10 contact hours for seminars, workshops and tutorials
- Intensive independent study.
First Semester Compulsory
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
Second Semester - optional
In your second semester, you will have the opportunity to choose three modules from a selection of topics.
Examples of optional modules that may be available include:
- Behavioural Finance: examines the effects of behavioural biases in financial markets
- Causal Inference in Econometrics: teaches cutting-edge econometric methods used in many empirical economics fields to establish plausibly causal estimates of phenomena like the minimum wage or the impact of immigration
- Econometric Time Series Analysis: provides an advanced treatment of the core theory and practice of time series econometrics
- Game Theory: provides a thorough advanced treatment of the core models and concepts used in modern game theory
- Industrial Economics: focuses on the structure and mechanisms governing markets and on the way firms compete against each other in the pursuit of profit maximisation
- Monetary Policy: studies key issues in monetary policy
- Portfolio Management: studies key issues in asset allocation, portfolio composition and management at an advanced level
MSc Economics students may take up to one advanced undergraduate optional module from the following in the second semester:
- Behavioural Economics: Individual Decisions and Welfare
- Development Economics
- Econometrics of Impact Evaluation
Dissertation
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 framing a hypothesis, conducting bibliographic research, writing a literature survey, and structuring a dissertation.
Teaching
Teaching format
The program consists of traditional lectures, as well as tutorials, seminars, and computer lab work in small groups.
You will also complete a 15,000-word dissertation on a topic of your choice which is relevant and appropriate to the MSc.
Assessment
Courses are assessed both continuously and with end-of-semester exams.
Support
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.
Scholarships and Funding
The University of St Andrews is committed to attracting the very best students, regardless of financial circumstances.
The University of St Andrews offers postgraduate scholarships and other financial awards. These may be held in addition to external funding or awards from a government body. These may also cover (fully or partially) tuition fees, maintenance (living costs including accommodation), or both.
Scholarships are available based on academic merit and financial need. There are scholarships available for both home and overseas fee status. The scholarship team recommends reading the terms of each award carefully and applying to a range of funding sources.
Postgraduate scholarships
Postgraduate study is an investment in your intellectual development and career potential. The University of St Andrews provides scholarships to help as many students as possible continue in higher education.
Scholarship availability may depend on your area of study or fee status (for example, whether you are a 'Home' or 'Overseas' student).
Career Opportunities
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.
Program Tuition Fee
Program Admission Requirements
Show your commitment and readiness for Grad school by taking the GRE - the most broadly accepted exam for graduate programs internationally.