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MSc Economics
A specialist degree in modern economics which can lead to a variety of world-class careers.

MSc Economics / Course details

Year of entry: 2019

Course description

Manchester is a leading centre for economics and research-led teaching. Graduate students from across the globe come to study economics at Manchester, attracted by its first-class postgraduate training and supervision in the core and specialist areas of economics.

Many famous names from the world of economics have worked here at Manchester, including three Nobel Prize winners.

The MSc has three specialisms:

  • econometrics;
  • environmental economics; and
  • Health economics.

Please see course unit details for further information.

Aims

This course will:

  • provide balanced and rigorous training in modern economics theories and techniques at postgraduate level;
  • introduce you to key concepts, ideas, tools and techniques via core and optional course units;
  • Demonstrate and develop your skills by writing a summer dissertation.

Upon completion of the course, you should be able to read and understand the leading economics journals, develop economic models of your own from which to derive original results and offer a critique of underlying theories.

Special features

Quantitative methods preparation for the MSc

1. Please see our Introduction to Quantitative Methods in Economics page for the minimum knowledge of mathematics and statistics you should have before starting the course.

2. On the same page, please look at details of our Introduction to Quantitative Methods in Economics course. This course builds on your existing knowledge and is designed to equip you with the further technical skills you will require before starting the MSc.

3. You are strongly advised to attend this course which is offered free of charge during induction week. We recommend that you spend some of your time between July and September familiarising yourself with the course material on the website, especially if you may not be able to attend. Your marks on the course contribute 10% to your final marks in the compulsory maths methods and econometrics units in semester 1.

Teaching and learning

Part-time students complete the full-time programme over two years. There are no evening or weekend course units available on the part-time programme.  

You must first check the schedule of the compulsory modules and then select your optional modules to suit your requirements.  

Updated timetable information will be available from mid-August and you will have the opportunity to discuss your module choices during induction week with your Course Director.

Coursework and assessment

The Master of Economics is awarded by the University on the recommendation of the Board of the School of Social Sciences, Graduate Office. The degree may be awarded with a Pass, Merit or Distinction.

Students who fail a master's degree may be awarded a Postgraduate Diploma if they satisfy the appropriate conventions. Once a diploma has been awarded in these circumstances, a student cannot re-enrol on a master's degree.

In Economics, there are three standard methods of assessment: 

  • written examination only;
  • written examination, with a weight of two thirds, plus an essay or project, with a weight of one third;
  • Examinations are usually 2 hours in length.

.

Course unit details

There are typically five compulsory course units:

  • microeconomic theory;
  • macroeconomic theory;
  • mathematical methods in economic analysis; 
  • econometric methods, and;
  • Cross section econometrics.

In addition, you can choose from a wide range, three approved optional course units. Students undertaking the MSc Economics course are required to write a dissertation of between 12,000-15,000 words following exams in May and June.

The MSc Economics allows students the option to specialise, if they so wish, in one of three areas; Econometrics, Environmental Economics or Health Economics, by selecting in the second semester specialism-specific units as detailed below.  Students may decide to choose specialisms by the end of semester 1.

Econometrics specialism

This specialism aims to provide balanced and rigorous training in modern theories in economics and econometrics at the postgraduate level. Although similar to the MSc in Economics, it differs in the level of econometric course units it provides. The aims of the specialism are:

  • To provide advanced instruction and rigorous training in economic and econometric theories and the relevant methods of empirical research in those areas
  • To develop students' powers of inquiry, critical analysis, and logical thinking and to apply theoretical knowledge to current issues of policy and practice
  • To encourage initiative, independent learning, and create awareness of the range of methodological approaches to research and problem solving and their implications for research findings
  • To enable students to apply advanced research skills to a relevant research area in economics and/or econometrics, via course units and a dissertation.

In addition to the five compulsory course units, you are required to take the following:

  • Econometric Theory
  • Applied Macroeconomics

Students select one further course unit from an agreed list of options.

Environmental Economics specialism

This specialism aims to provide a balanced and rigorous training in modern theories and techniques in environmental economics at the postgraduate level. Although similar to the MSc in Economics, it differs in the specialist course units it provides.

  • Students are introduced to key concepts, ideas, tools and techniques via core and optional course units, and have the opportunity to combine and develop their skills in writing a dissertation.
  • By the end of the course, students are able to critically engage with the current theory and practice in environmental economics. They are able to develop approaches and models of their own, based on the environmental problem at hand, from which to derive original results and offer a critique of existing theories and practice.
  • The specialism provides training for those aiming to be environmental economists in national and international public (Defra, FSA, Environment Agency, OECD, etc) and private institutions including environmental consultancies. It also serves as a sound foundation from which to embark on a PhD Programme in environmental economics.

In addition to the five compulsory course units, you are required to take the following:

  • Environmental Valuation
  • Economics of Environmental Policy

Students select one further course unit from an agreed list of options.

Health Economics specialism

This specialism aims to provide rigorous training in modern theories and techniques in economics of health and health care at postgraduate level. Although similar to the MSc in Economics, it differs in the specialist course units it provides.

  • Students are introduced to key concepts, tools and techniques via core and optional course units, and have the opportunity to combine and develop their skills in writing a supervised dissertation.
  • Cutting-edge health related issues and policies will be critically examined and by the end of the course, students will be able to rigorously engage with current theory and practice in health economics. Students can develop theoretical or empirical models of their own from which to derive original results and offer a critique of existing theories and practice.
  • The bulk of the teaching and research supervision for students on this Programme is done by members of the Department of Economics and the Manchester Centre for Health Economics research group ( Institute of Population Health ).
  • The specialism provides training for those aiming to be health economists in national and international public (NHS, WHO, etc) and private institutions including consultancies. It also serves as a sound foundation from which to embark on a PhD Programme in Health Economics.

In addition to the five compulsory course units, you will be required to take the following units:

  • Topics in Economics of Health
  • Economics of Health

Students select one further course unit from an agreed list of options.

Course unit list

The course unit details given below are subject to change, and are the latest example of the curriculum available on this course of study.

TitleCodeCredit ratingMandatory/optional
Mathematical Methods in Economic Analysis ECON60081 15 Mandatory
Microeconomic Theory ECON60101 15 Mandatory
Macroeconomic Analysis ECON60111 15 Mandatory
Introduction to Quantitative Methods in Economics ECON60901 0 Mandatory
Econometric Methods ECON61001 15 Mandatory
Dissertation ECON63000 60 Mandatory
Development Microeconomics ECON60022 15 Optional
Cross Section Econometrics ECON60052 15 Optional
International Macroeconomics ECON60132 15 Optional
Public Economics ECON60202 15 Optional
Poverty, Inequality and Government Policy in Less Developed Countries ECON60212 15 Optional
Financial Econometrics ECON60332 15 Optional
Non-Market Valuation ECON60422 15 Optional
Healthcare Economics ECON60432 15 Optional
Topics in Applied Economics ECON60482 15 Optional
Political Economics ECON60492 15 Optional
Econometric Theory ECON60502 15 Optional
Applied Macroeconometrics ECON60522 15 Optional
Applied Development Economics Project (ADEP) ECON60552 15 Optional
Mathematical Economics ECON60562 15 Optional
Economic Growth ECON60662 15 Optional
Economics of Environmental Policy ECON60782 15 Optional
Advanced Topics in Development Economics ECON61212 15 Optional
Financial Economics II ECON61262 15 Optional
Displaying 10 of 24 course units

Disability support

Practical support and advice for current students and applicants is available from the Disability Advisory and Support Service. Email: dass@manchester.ac.uk