Economics (MSc)

Program Overview

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Economics (MSc) 2025 entry

Overview

The MSc in Economics provides advanced, rigorous training in essential elements of economics – microeconomics, macroeconomics, and econometrics – plus a range of specialist options covering theoretical and empirical approaches.

Application Deadline

Thursday 7 August 2025

Duration

One year full time

School

Business School

Fees

• UK: £12,030
• Rest of the world: £25,900

Why Study This Course?

The programme focus is to provide a self-contained, rigorous but relevant learning experience that prepares you either to start employment at a senior level in a wide variety of economics-related activities, or to pursue further research.

Highlights

• Learn the theoretical and empirical tools required to understand the increasingly complex and rapidly changing economy
• Experience a warm and friendly learning environment with small group teaching allowing a high level of student-teacher interaction
• Choose from supplementary lectures in mathematical and statistical methods available at the beginning of the course

Teaching

Traditional lectures, tutorials, seminars, and computer lab work in small groups.

Assessment

Continuous assessment and end-of-semester exams.

Dissertation

A 15,000-word dissertation on a topic of your choice which is relevant and appropriate to the MSc.

Modules

The St Andrews degree structure is designed to be flexible. You study compulsory modules delivering core learning together with optional modules you choose from the list available that year.

You take three compulsory modules in the first semester. In your second semester, you will choose three modules from a selection of topics.

Each compulsory module typically comprises:

• 16 or 20 lecture contact hours
• 5 or 10 contact hours for seminars, workshops, and tutorials
• intensive independent study

Compulsory Modules

• Econometric Methods and Applications: advanced level training in econometric methods.
• Macroeconomics: advanced treatment of the core models and concepts used in modern macroeconomics.
• Microeconomics: advanced treatment of the core models and concepts used in modern microeconomics.

Optional Modules

• Behavioural Finance: examines the effects of behavioural biases in financial markets.
• Causal Inference in Econometrics: teaches cutting-edge econometric methods used in many empirical economics fields to establish plausibly causal estimates of phenomena like the minimum wage or the impact of immigration.
• Econometric Time Series Analysis: provides an advanced treatment of the core theory and practice of time series econometrics.
• Game Theory: provides a thorough advanced treatment of the core models and concepts used in modern game theory.
• Industrial Economics: focuses on the structure and mechanisms governing markets and on the way firms compete against each other in the pursuit of profit maximisation.
• Monetary Policy: studies key issues in monetary policy.
• Portfolio Management: studies key issues in asset allocation, and portfolio composition and management at an advanced level.

MSc Economics students may take up to one advanced undergraduate optional module from the following in the second semester:

• Behavioural Economics: Individual Decisions and Welfare
• Development Economics
• Econometrics of Impact Evaluation

What It Will Lead To

Careers

There is a long-standing tradition of Economics graduates working in a wide variety of challenging and rewarding posts including:

• academia
• banking
• commerce
• diplomatic service
• economics
• finance
• government
• industry
• insurance

They work in the UK, Europe, and North America, and more frequently in locations such as China, Taiwan, Hong Kong, Japan, and Thailand.

Further Your Education

Many graduates pursue PhDs at St Andrews or beyond. Funding includes ESRC awards and Business School studentships, offering RCUK-level stipends and fee waivers for home and EU students.

Go Your Own Way

Our Entrepreneurship Centre offers training and start-up support for those looking to freelance as well as create their own business.

Why St Andrews?

Industry Connections

The Masters Extra (MX) is a programme of events focused on careers and personal and professional development, designed specifically for taught Masters students in the University of St Andrews Business School.

Alumni

As a graduate of St Andrews, you become part of a prestigious and globally connected alumni community. This lifelong membership offers access to career services, networking opportunities, and exclusive resources.

Entry Requirements

• A 2.1 Honours degree from a recognised UK university in Economics or Finance with a significant Economics component; or a 2.1 joint Honours in Economics and another subject that includes substantial training in microeconomics, macroeconometrics, and econometrics.
• English language proficiency.

Application Requirements

• CV
• A detailed personal statement which includes an explanation of why you want to study the programme, why you want to enrol at St Andrews, and future career plans.
• An original signed academic reference
• Academic transcripts and degree certificates

English Language Proficiency

If English is not your first language, you may need to provide an English language test score to evidence your English language ability.

Scholarships and Funding

We are committed to supporting you through your studies, regardless of your financial circumstances. You may be eligible for scholarships, discounts, or other support:

• Jane M Klausman Women in Business Scholarship
• GREAT Scholarship
• St Andrews Sanctuary Scholarship
• St Leonard's funding opportunities
• Graduate discount (15% off tuition fees)

Economics and Finance scholarships