Development Economics MSc

Program Overview

---

Development Economics MSc

Overview

Our Development Economics MSc uses modern economic analysis and empirical methods to explore theories, issues, and evidence relating to developing countries. It focuses on the specific economic challenges of some of the poorest countries in the world and looks at the success and failure of different economies.

Course Structure

• Duration: 12 months (full-time), not available part-time
• Start Date: September 2025
• UK Fees: £15,800
• International Fees: £28,200
• Entry Requirements: 2:1 undergraduate degree in a discipline with significant economics content

Course Content

The course is made up of 120 credits of core and optional taught modules, plus a 60-credit dissertation on a subject of your choice.

Core Modules

• Development Policy Analysis: Examples of types of policy issues addressed include randomised controlled trials to evaluate policy interventions, trade policy reform, welfare impact of economic partnership agreements, growth and innovation, and dealing with public debt.
• Development Microeconomics: This module employs tools of microeconomic analysis to address topics central to development issues in low-income countries.
• Microeconomic Theory: This module covers modern techniques of microeconomic theory, foundations and applications of game theory, and information economics.
• Macroeconomic Theory: This module will cover analytical and theoretical issues in macroeconomics including modelling aggregate variables under adaptive and rational expectations, modelling with imperfect competition, constructing overlapping generations models, and price inertia.
• Econometric Theory: This module teaches the core techniques of econometric theory, including detailed analysis of the multiple linear regression model, large sample theory, asymptotic testing procedures, non-linear techniques, and mis-specification testing.
• Economic Data Analysis: This module provides you with 'hands on' training in the use, presentation and interpretation of economic data, including time series, cross-section and panel data.
• Economic Research Methodology: This module covers the following: A review of perspectives on the principles and philosophical foundations of economic enquiry, the construction and evaluation of theories and research programmes, the role of models and concepts of rationality in economics, alternative empirical methods, and professional practice.

Optional Modules

• Advanced Microeconomic Theory: This module examines central theoretical aspects from modern microeconomic theory, paying particular emphasis on game theory, imperfect competition and incomplete information.
• Advanced Macroeconomic Methods: This module covers the theory for the solution and estimation of dynamic stochastic models that are widely used in all fields of macroeconomics.
• Applied Behavioural Economics: The module will cover a selection of topics in applied behavioural economics where a substantial literature has already developed.
• Applied Microeconometrics: The module considers modern econometric techniques for modelling microeconomic data.
• Behavioural Economic Theory: The module explores the psychological underpinnings of economic behaviour and of recent theories in behavioural economics.
• Big Data Economics: This module will focus on advanced Big Data methods and their applications in various economics problems.
• Economics of Corporate Finance: This module offers an introduction to the economics of corporate finance.
• Economics of Household Finance: This module covers the central issues in the economics of household finance.
• Experimental Methods in Economics: This module covers the following: Foundation in the research method of modern laboratory experimentation, economics as an experimental subject, rationale for experiments, applications and practicalities, considered in the context of specific experiments and programmes of experiments.
• Financial and Macroeconometrics: The module extends the coverage of advanced econometric modelling techniques and considers their application through the study of selected topics in finance and macroeconomics.
• International Macroeconomics: This module covers the following: International linkages in economics as a result of exchange rate movements, capital movements and spillovers, factors which determine the level of the exchange rate and trade effects, international effects of monetary and fiscal policies.
• International Trade Theory: This module provides an overview of the theory of international trade, the theory of trade policy and each of their applications, utilising the techniques of general equilibrium theory and the theories of perfectly competitive and imperfectly competitive markets as appropriate.
• Monetary Theory and Practice: This module covers monetary aspects of advanced macroeconomics and is suitable for students of mainstream economics, finance and international economics.
• Time Series Econometrics: The module covers fundamental properties of time series and various classes of stochastic processes.

Learning and Assessment

• How you will learn: Lectures, tutorials, computer labs, supervision
• How you will be assessed: Presentation, dissertation, written exam, group project, coursework
• Contact time and study hours: Each module in semester one will have on average three contact hours per week, made up of a mixture of lectures, tutorials and lab classes. For each contact hour, we expect an additional three hours of self-study, reading, completing homework, assignments and studying for exams.

Entry Requirements

• Undergraduate degree: 2:1 (or international equivalent) in a discipline with significant economics content, including microeconomics, macroeconomics, statistics and econometrics modules.
• English language requirements: IELTS 6.5 (no less than 6.0 in any element)

Fees

• Qualification: MSc
• Home / UK: £15,800
• International: £28,200

Funding

There are many ways to fund your postgraduate course, from scholarships to government loans.

Careers

Our masters provides a logical and rigorous perspective on human behaviour which is valued by a wide range of employers around the world, in development organisations, banking, business, consulting, government and academia.

Graduate Destinations

Our graduates now work in academia, government and the private sector, including the World Bank, the UN, central banks around the world and a host of private-sector firms including Barclays, Bloomberg, Deloitte and Goldman Sachs.

Career Progression

100% of postgraduates from the School of Economics secured graduate level employment or further study within 15 months of graduation. The average annual salary for these graduates was £36,000.

Program Outline

---

Degree Overview:

The Development Economics MSc program at the University of Nottingham utilizes modern economic analysis and empirical methods to explore theories, issues, and evidence relating to developing countries. It focuses on the specific economic challenges of some of the poorest countries in the world and examines the success and failure of different economies.

---

Objectives:

• Provide students with a comprehensive understanding of development economics theories and practices.
• Develop students' analytical and empirical skills to address real-world development issues.
• Prepare students for careers in international development, research, or academia.

---

Outline:

---

Course Content:

• Microeconomic theory
• Macroeconomic theory
• Econometric theory
• Economic data analysis
• Development policy analysis
• Development microeconomics

---

Course Structure:

• Semester 1: Microeconomic theory, macroeconomic theory, econometric theory, economic data analysis
• Semester 2: Development policy analysis, development microeconomics, two optional modules, economic research methodology
• Dissertation: 15,000-word dissertation on a development economics topic

---

Modules:

• Development Policy Analysis: Examines policy issues such as randomized controlled trials, trade policy reform, welfare impact of economic partnership agreements, growth and innovation, and public debt.
• Development Microeconomics: Applies microeconomic analysis to issues central to development in low-income countries, including household behavior, intrahousehold allocation, production, risk, migration, rural markets, poverty, and income distribution.
• Microeconomic Theory: Covers modern techniques of microeconomic theory, game theory, and information economics.
• Macroeconomic Theory: Analyzes macroeconomic variables under adaptive and rational expectations, imperfect competition, overlapping generations models, and price inertia.
• Econometric Theory: Teaches core econometric techniques, including multiple linear regression, large sample theory, asymptotic testing procedures, non-linear techniques, and mis-specification testing.
• Economic Data Analysis: Provides hands-on training in the use, presentation, and interpretation of economic data, including time series, cross-section, and panel data.
• Economic Research Methodology: Covers principles and philosophical foundations of economic enquiry, construction and evaluation of theories, models and concepts of rationality, alternative empirical methods, and professional practice.
• MSc Dissertation: Economics: A period of research and study to demonstrate familiarity with a particular area of economic theory or policy, applied economics or econometrics, and the ability to apply specific analytical and/or empirical techniques.

---

Assessment:

• Coursework
• Project work
• Presentation
• Dissertation

---

Teaching:

• Lectures
• Seminars
• Tutorials
• Workshops

---

Careers:

• Banking
• Business
• Consulting
• Government
• Academia

---

Other:

• The program is informed by the research of the Centre for Research in Economic Development and International Trade.
• Students can apply for internships and placements through the faculty placements program.
• Graduates have successfully secured positions at top organizations such as Barclays, Bloomberg, Deloitte, Economist Intelligence Unit, Goldman Sachs, IBM, PwC, and Thomson Reuters.

---

UK fees: £14,700 International fees: £26,250