University College London (UCL)
Economics MSc
London, United Kingdom
MSc
DURATION
2 years
LANGUAGES
English
PACE
Full time, Part time
APPLICATION DEADLINE
EARLIEST START DATE
Sep 2026
TUITION FEES
STUDY FORMAT
On-Campus
The MSc in Economics program is designed to give students a strong foundation in economic theory and quantitative methods. You’ll explore core topics like microeconomics, macroeconomics, and econometrics, which help develop a clear understanding of how economies function at both individual and national levels. The coursework aims to enhance your analytical skills and ability to apply economic principles to real-world problems, preparing you for careers in consulting, finance, policy analysis, or further research. The program also encourages critical thinking and data analysis, equipping students with practical skills essential for the evolving economic landscape.
Students can choose from a variety of optional modules to tailor their learning toward specific interests, such as development, behavioural economics, or financial markets. The program includes opportunities for independent research, culminating in a dissertation that lets students investigate a topic of their choice deeply. Throughout the course, students are supported by academic staff with expertise in various fields, helping to foster a collaborative and engaging learning environment. The program is structured to balance theoretical knowledge with practical application, aiming to empower students with the skills needed for either entering the workforce or continuing academic studies.
UCL Scholarships
There are a number of scholarships available to postgraduate students, including our UCL Masters Bursary for UK students and our UCL Global Masters Scholarship for international students. You can click the link below to search via the scholarships finder for awards that you might be eligible for. Your academic department will also be able to provide you with more information about funding.
External Scholarships
Online aggregators like Postgraduate Studentships, Scholarship Search, Postgraduate Funding and International Financial Aid and College Scholarship Search contain information on a variety of external schemes.
If you have specific circumstances or ethnic or religious background it is worth searching for scholarships/bursaries/grants that relate to those things. Some schemes are very specific.
Funding for disabled students
Master's students who have a disability may be able to get extra funding for additional costs they incur to study.
Teaching and learning
The programme is delivered through a combination of lectures, tutorials, and practical and problem classes.
The MSc degree is awarded on the basis of written, final examination papers and the research dissertation.
Contact time takes various forms:
- Lectures
- Seminars
- Project supervision
- Assessment feedback sessions
Each fifteen-credit module involves 150 learning hours over the academic year. The credit value of the module indicates the total learning hours you will spend to achieve its learning outcomes.
Each module on the programme will involve approximately three hours of contact time per week (spread across lectures and seminars), and at least eight hours of private study per week. While week to week schedules will vary, students can expect to spend 25% of their time in lectures, 20% in tutorials or practicals, up to 10% in advisory or supplemental engagement sessions, and about 45% working on independent study and research.
Your research project/dissertation will take up a good portion of your time in the programme, particularly towards the end. The learning hours will mainly be spent researching and writing your final dissertation. During the research and writing stages you will also have regular contact with your supervisor(s) who will guide and support you throughout your work.
Modules
Full-time
You will undertake 8 taught modules and the research dissertation.
In the summer before Term 1, you will complete an online, self-paced foundation module in Maths and Stats. You will take the final exam on the Maths and Stats module in the first week of Term 1.
- In Term 1, you will take four compulsory modules.
- In Term 2, you will take four optional modules and write the dissertation proposal.
- In Term 3, you will take final examinations in three compulsory modules and four optional modules. You will write the dissertation during the summer, after the Term 3 final exams.
The compulsory modules provide a systematic and comprehensive presentation of the major theories and methods of micro and macroeconomics. The compulsory modules are supplemented by options modules which show how the methods introduced in the compulsory modules can be applied to analyse a wide range of policies. Options modules also allow you to study selected aspects of the theory and methods of economics in greater depth.
The compulsory research dissertation provides you with the opportunity to apply understanding and knowledge to a substantial original analysis of a specific theoretical, empirical or policy issue.
Part-time
Year One:
- In the summer before Term 1, you will complete an online, self-paced foundation module in Maths and Stats. You will take the final exam on the Maths and Stats module in the first week of Term 1.
- In Term 1, you will take two compulsory modules in Microeconomics and Econometrics.
- In Term 2, you will take 2 optional modules.
- In Term 3, you will take final examinations in two compulsory modules and two optional modules.
Year Two:
- In Term 1, you will take two compulsory modules, in Macroeconomics and Research Methods.
- In Term 2, you will take two optional modules and write the dissertation proposal.
- In Term 3, you will take final examinations in the Macroeconomics compulsory module and the two optional modules.
You will write the dissertation during the summer, after the Term 3 final exams.
The programme is designed as a full-time, 12-month experience; part-time study is offered on an exceptional basis only.
Compulsory modules
- Econometrics
- Dissertation
- Microeconomics
- Macroeconomics
- Research Methods
Optional modules
- Advanced Macroeconomic Theory
- Time Series Econometrics
- Advanced Microeconomic Theory
- Advanced Microeconometrics
- Public Microeconomics
- Topics in Labour Economics
- Topics in Money and Finance
- Health Economics
- Programme Evaluation for Users
- Empirical Industrial Organisation
- Macroeconomic Policy
- Environmental Economics: Principles and Policy
- Behavioural Economics
- Economics of Development
- International Trade
- Data Science Theory
- Machine Learning in Economics
- International Political Economy
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 are subject to change.
Students undertake modules to the value of 180 credits. Upon successful completion of 180 credits, you will be awarded an MSc in Economics.
What this course will give you
UCL Economics has an outstanding international reputation in the areas of applied microeconomics, labour economics, development economics, economic theory, experimental economics, econometrics, and macroeconomics. The department is a global leader in policy-oriented research, with members actively involved in policy design and evaluation. The Research Excellence Framework 2021 ranked the UCL Department of Economics as the top department in the UK for 4* world-leading research outputs and research environment. The high quality and policy impact of research undertaken by faculty are reflected in an excellent teaching and research environment for graduate students.
The foundation of your career
According to the most recent available data (Graduate Outcomes survey 2017-2022), recent graduates go on to a variety of roles including:
- The civil service (e.g, Cabinet Office, Department for Business, Energy & Industrial Strategy, HM Treasury)
- Central banks (e.g, Bank of England, European Central Bank)
- Regulators (e.g, Competition and Markets Authority, Ofgem)
- Consultancy (eg, Charles River Associates, Compass Lexecon, Economic Insight, EY, Frontier Economics, NERA Economic Consulting, Oxera Consulting, Oxford Economics, PwC)
- Think tanks (e.g, Institute for Fiscal Studies) and the financial sector.
Many of our students also continue with their studies, entering PhD programmes at world-renowned institutions including UCL, the University of Cambridge, and the University of Warwick.
Employability
The UCL Economics MSc is a passport to a career in any major national and international institution which demands deeper, more rigorous analytical reasoning in economics. In such roles as these, our MSc graduates can draw on a thorough theoretical grounding and wealth of practical analytical tools accrued during the MSc to formulate relevant questions in economics and produce high-quality economic analysis. This balanced skillset is valued both by employers and academic selectors of prestigious PhD programmes alike. Additionally, our students benefit from the international reputations of the programme's academic staff and the academic excellence and international perspectives of their fellow MSc students.
Networking
Students at UCL Economics have invaluable opportunities to meet world-leading academics and experts in the subject field during their studies. Drawing on its myriad close relationships with organisations such as the Institute for Fiscal Studies, UCL Economics has collaborative and consultative relationships with government, the policy sphere and broader public and financial sectors. The department has a rich programme of internal and external seminars, student camps, the incredible, student-run Economics Society and an annual Careers Week which brings together our vibrant and global alumni community, industry speakers and skills workshops. These deep, rich connections and collaborations mean our students do more than study here, they springboard to new levels in their careers.