Economic Policy and Analysis MSc
University of Westminster
London, United Kingdom
GBP 13,000 / per year **
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Earliest start date
* we urge applicants to apply as soon possible and recommend applicants to apply at least three months before the course starts
** international | UK: £11,500
Post graduate Open Evening
Wednesday 25th October 2023, 5:30-7PM(BST)
Economics is more relevant than ever to understand contemporary events in the global economy and provide the tools and techniques for businesses and governments to analyse and interpret the issues and problems they face. Reflecting the needs of both private and public sector employers, our highly practical MSc prepares you to assess business problems, interpret public policy and effectively communicate the insights that economic analysis can provide.
Aimed at those with a genuine interest in the application of economics to real-world situations, this course aims to provide you with an in-depth knowledge of the latest theories, practices and key concepts in economics that underpin public sector policy and business decision-making. This includes the various scenarios where we explore opportunity cost, equilibrium and disequilibrium, strategic interaction, market failure and the related concept of externalities.
The focus is very much on developing the practical skills needed by a working economist – the ability to apply economic techniques to complex, multi-faceted business problems and provide specialist advice. You’ll gain hands-on experience with the industry-standard computing and econometrics software used to analyse and manipulate data.
You’ll be taught by staff who share their experience working and consulting for the UK Government Economic Service, HM Treasury, HM Revenue and Customs, the Department of Work and Pensions, House of Lords, Federation of Small Businesses, European Commission, International Labour Office, and many other major international financial firms.
There is an increasing demand worldwide for economic analysis in international development, local and central government, non-governmental organisations, charity, urban and regional development policy, education or research. Past graduates have become Fast Stream economists in the UK Government Economic Service, and others have gained employment as economists or economic analysts in charities and the private sector.
The course has been designed with input from colleagues at the Society of Professional Economists and previous students now working in the UK Government Economic Service.
Top reasons to study with us
- 90% overall student satisfaction in the 2019 Postgraduate Taught Experience Survey (TES)
- Free student membership of the Society of Professional Economists, giving you access to a global network of practising economists
- Taught by highly experienced staff who have worked with the UK Government Economic Service, HM Treasury, HM Revenue and Customs, Federation of Small Businesses, European Commission and many other major international financial firms
- Guest lectures from industry practitioners, with past topics including the role of the Office of Budget Responsibility and careers in the UK Government Economic Service
- Free access and experience using Office for National Statistics datasets and EViews
- Free online subscription to Financial Times and part of the material on the course reading list includes free textbooks for the majority of core and option modules
Why study this course?
- Develop key skills
Develop the valuable skills required to work as an economist in the public and private sectors.
- Combine theory and practice
Link economic theory with practice through application to real-world economic issues.
- Professional software
Free access to professional software, including EViews, core textbooks, subscription to the online Financial Times and student members of the Society of Professional Economists.
As an economics postgraduate, you can look forward to excellent career prospects. Our students have gone on to successful careers in government and consultancy as economic analysts, regulatory economists and market analysts.
The strong international focus of the course provides an excellent opportunity to develop the knowledge and skills to pursue a career in multinational companies or international organisations. Many graduates return to their countries of origin and are employed in developing international business opportunities or government institutions, while other graduates develop their careers with international charities or other non-governmental organisations. Several of our recent graduates have also found that the course opened up opportunities for PhD study.
With a growing global network of 3,000 employers, our Careers and Employability Service is here to support you in achieving your full potential.
- Develop your CQ
Develop your cultural intelligence – or ‘CQ’ – by studying alongside students and staff representing more than 100 nationalities.
- Kickstart your career
Learn how to use social media in your job hunt or LinkedIn to kickstart your career.
- Careers support
Postgraduate students have access to the University’s Careers and Employability Service for up to three years after graduation.
We have established links with the UK Government Economic Service, the largest employer of economists in the UK.
Our course was designed with input from a range of professionals with expertise in the economic appraisal, evaluation and evidence-based policymaking.
This course will prepare you for roles such as:
- Economist (in the private and public sectors)
- Economic advisor/analyst
- Management consultant
Graduates from this course have found employment at organisations including:
- International Monetary Fund
- Rio de Janeiro Mayor’s Office
- Shelter (UK housing charity)
- The UK Government Economic Service, including Ofcom and Ofgem
Westminster Employability Award
Employers value graduates who have invested in their personal and professional development – and our Westminster Employability Award gives you the chance to formally document and demonstrate these activities and achievements.
The award is flexible and can be completed in your own time, comprising a set of core and optional extracurricular activities.
Activities might include gaining experience through a part-time job or placement, signing up to a University-run scheme – such as mentoring or teaching in a school – or completing online exercises.
As well as enhancing your ability to apply relevant economic principles in support of policy and strategy development, the course aims to develop your ability to communicate complex issues to wide audiences, your awareness of significant sources of economic and financial data, the problems faced when carrying out policy evaluation and your capability for self-awareness and group working.
Through optional module selection, should you wish, you can choose to learn more about global financial markets, international economics and/or development economics and policy.
The modules below are indicative of what you will study in this course. You may choose two option modules in addition to the core modules.
The first semester is designed to build a strong foundation of knowledge of the fundamental concepts and ideas in economics (and their microeconomic and macroeconomic foundations). We’ll look at how a working economist develops policy advice in relation to production and supply decisions. Drawing on real-life economic scenarios from a variety of sector contexts, we’ll also examine sources of market failure, the economic choices available and competition policy in different countries. You’ll be introduced to the software used to analyse quantitative data, including Excel and EViews.
The second semester builds on your understanding and use of fundamental economic, statistical and econometric techniques and provides opportunities to study international and development economics and policy. Your studies culminate with the final project, an intensive piece of research of between 8,000 and 10,000 words, where you will provide an evaluation of real-life economic policy. As a guide, previous students have considered topics as diverse as the impact of free childcare for working parents and the effectiveness of government subsidies on productivity in UK SMEs.
- Data Analysis
- Economic Appraisal and Evaluation
- Economic Evaluation Project
- Macroeconomic Analysis and Policy
- Microeconomic Analysis and Policy
- Research Methods
- Sustainable Energy Policy
- International Economics
- Development economics and policy
- Global financial markets
Program Tuition Fee
Scholarships and Funding
The University is dedicated to supporting ambitious and outstanding students and we offer a variety of scholarships to eligible undergraduate students, which cover all or part of your tuition fees.
English Language Requirements
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