Sheffield Hallam University

MSc Applied Economics

What you'll study on our MSc Applied Economics

This course focuses on applying economic theory to real-world challenges. You’ll explore topics including sustainable development, macroeconomic modelling, political and institutional economics, financial volatility, digital currencies, ESG considerations, climate change, income inequality and energy markets.

Within applied macroeconomics, you’ll examine policy interactions and contemporary issues such as climate change and digital currencies. Through applied microeconomics, you’ll explore market behaviour, competition and strategic decision-making. You’ll also experience hands-on training in econometric methods and applications – including empirical research, modelling and statistical analysis using Stata. 

A major feature of the MSc Applied Economics course is your dissertation, where you’ll independently research an applied economics topic aligned to your academic interests and career goals. Other assessment methods include assignments, policy briefs, empirical projects, presentations and phase tests, giving you plenty of ways to demonstrate your learning.

Course support

You’ll be supported in your learning journey towards highly skilled employment through a number of key areas. These include:

• student support advisers for personal, academic and career development
• access to the Skills Centre with one-to-ones, webinars and online resources
• academic support from research-active staff and industry specialists
• employability-focused learning through live projects and applied assessments

Applied learning

Live projects

Applied learning is embedded throughout the MSc Applied Economics course. You’ll work on live consultancy projects or independent research that reflects real economic challenges. 

Partnering with organisations ranging from local enterprises to international firms, you’ll analyse data, evaluate policy and operational decisions, and deliver evidence-based recommendations. These experiences strengthen your analytical rigour, creativity and strategic thinking. Case studies then deepen your appreciation of diverse economic contexts – from agile start-ups to multinational corporations – giving you the tools to assess performance, forecast trends, and inform decision-making.

Networking opportunities

On this MSc Applied Economics course, you’ll have opportunities to meet economists, policy advisers and business leaders through guest lectures, masterclasses and networking events delivered by Sheffield Business School and its alumni community. Through our Business Hub, you’ll connect with local and regional organisations – great opportunities to apply your economics knowledge to professional contexts.

You can also build your networks and confidence in our student-led Economics Society, which hosts academic talks, professional development events, peer-led study sessions, social events and study sessions.

Competitions

You’ll have the opportunity to take part in the Bloomberg Global Trading Challenge, the only university investment competition delivered entirely through the Bloomberg Terminal. Working in teams, you’ll design and implement trading strategies using real market data in a simulated environment – applying your financial and analytical skills while competing against students from around the world. 

Modules

Module and assessment information for future years is displayed as currently validated and may be liable to change. When selecting electives, your choices will be subject to the core requirements of the course. As a result, selections may be limited to a choice between one of two or more specified electives in some instances.

Final year

Compulsory modules

• Applied Macroeconomic Analysis
• Applied Microeconomic Analysis
• Econometric Methods And Applications
• Financial Stability, Regulation, and Sustainability

Elective modules

• Consultancy
• Dissertation

How you learn

We’ve collaborated with industry specialists to design an MSc Applied Economics course that gives you the global skills employers value. You’ll learn from industry experts and research-active academics, developing your leadership and communication skills in our purpose-built facilities, including the business lounge and trading floor. 

Our teaching is grounded in contemporary academic research and the real-world challenges facing governments, businesses and financial institutions. You’ll explore applied macroeconomics, microeconomics, econometric methods and policy evaluation, developing your confidence in data analysis, economic modelling and evidence-based decision-making. 

Through guest lectures you’ll hear from organisations such as HSBC and the Bank of England, giving you direct insight into applied economic practice. You’ll also develop advanced technical skills – using Stata for econometric analysis and data management, and MATLAB for macroeconomic modelling and simulation.

You learn through:

• lectures
• interactive seminars
• workshops
• live projects
• guest lectures
• digitally enabled learning and simulations
• group and individual presentations
• specialist software training
• small group and individual dissertation supervision

Future careers

This MSc Applied Economics course prepares you for economics careers across government, finance, consultancy and international organisations, such as:

• economic analysis
• policy advisory roles
• financial and economic consultancy
• data and research analysis
• central banking
• international economic organisations

You’ll graduate with the skills to work across government departments, financial institutions, consultancy firms, and international organisations such as the IMF and World Bank. You’ll also have a strong foundation for further academic or research study. With a focus on applying economic theory to real-world challenges, you’ll be equipped to influence policy, support strategic decision-making and drive sustainable economic growth.