Program Overview

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MPhil in Economics

The MPhil in Economics is designed to provide rigorous training in economic theory, applied economics, and econometric methods. It is comparable to the first two years of a PhD programme at a US university.

About the Course

The MPhil provides a solid foundation for progressing to doctoral research, while at the same time providing the advanced knowledge and skills required for a career as a professional economist in government or the private sector. Numerous MPhil graduates have gone on to distinguished careers in economics or related fields. This is the course recommended if you have not undertaken any previous graduate work in economics.

Course Structure

The first year of the MPhil in Economics starts with a non-examined preparatory course in mathematical methods. The first two terms of the academic year focus on three compulsory courses in the central areas of microeconomics, macroeconomics, and econometrics. In the third term, you can choose from two entirely new courses in Empirical Research Methods and Further Mathematics Methods.

In the second year, you will take four option courses. The option courses build on the first-year training and provide deeper and broader training in your areas of interest.

Attendance

The course is full-time and requires attendance in Oxford. Full-time students are subject to the University's Residence requirements.

Resources to Support Your Study

As a graduate student, you will have access to the University's wide range of resources, including libraries, museums, galleries, digital resources, and IT services.

Supervision

The allocation of graduate supervision for this course is the responsibility of the Department of Economics, and it is not always possible to accommodate the preferences of incoming graduate students to work with a particular member of staff. Under exceptional circumstances, a supervisor may be found outside the Department of Economics.

Assessment

The three compulsory courses in microeconomics, macroeconomics, and econometrics are examined before the start of the third term of the first year. The required thesis is an important component of the second year, and is supervised by a member of the department. The thesis is usually expected to contain some original research.

Graduate Destinations

Each year, around 10-20 MPhil students proceed to the DPhil in Economics at Oxford. Others go on to doctoral programmes elsewhere or embark on careers as professional economists in the private or public sector.

Course Components

Compulsory Study

The first year of the MPhil in Economics starts with a non-examined preparatory course in mathematical methods. The first two terms of the academic year focus on three compulsory courses in the central areas of microeconomics, macroeconomics, and econometrics.

Options

In the second year, you will take four option courses. The option courses build on the first-year training and provide deeper and broader training in your areas of interest. You can take advanced-level courses in:

• macroeconomics
• microeconomics
• econometrics
• empirical research methods covering recent developments in theory and analytical techniques.

Other option courses are designed to develop knowledge and understanding of theory, empirical techniques, and debates within specialist fields of economics. These include:

• behavioural economics
• development economics
• economic history
• financial economics
• international trade
• labour economics
• public economics

Entry Requirements

Proven and Potential Academic Excellence

The requirements described below are specific to this course and apply only in the year of entry that is shown.

• a first-class or strong upper second-class undergraduate degree with honours in economics.
• Applicants must demonstrate a strong quantitative preparation.
• Candidates with a first degree in another related discipline should demonstrate how their academic background prepares them for graduate study in economics.

GRE General Test Scores

If you do not hold, or will not shortly hold, a UK or Republic of Ireland degree, you must submit the results of a GRE Test obtained within the last 5 years. Entrance is very competitive, and most successful applicants have a GRE score of Verbal 160, Quantitative 164, Analytical 4.5.

Other Qualifications, Evidence of Excellence, and Relevant Experience

All candidates are expected to have working knowledge in one programming language (of the candidates choice) at the start of the MPhil.

English Language Proficiency

This course requires proficiency in English at the University's higher level. If your first language is not English, you may need to provide evidence that you meet this requirement.

Funding

For entry in the academic year, the collegiate University expects to offer over 1,100 full or partial graduate scholarships across a wide range of graduate courses.

Costs

Annual Course Fees

The fees for this course are charged on an annual basis.

• Home: Ł27,490
• Overseas: Ł32,880

Additional Costs

There are no compulsory elements of this programme that entail additional costs beyond fees and living costs. However, please note that, depending on your choice of research topic and the research required to complete it, you may incur additional expenses, such as travel expenses, research expenses, and field trips.

Living Costs

In addition to your course fees and any additional course-specific costs, you will need to ensure that you have adequate funds to support your living costs for the duration of your course.

College Preference

Students enrolled on this course will belong to both a department/faculty and a college. The following colleges accept students on the MPhil in Economics:

• Balliol College
• Blackfriars
• Brasenose College
• Campion Hall
• Christ Church
• Corpus Christi College
• Exeter College
• Harris Manchester College
• Hertford College
• Jesus College
• Keble College
• Kellogg College
• Lady Margaret Hall
• Linacre College
• Lincoln College
• Magdalen College
• Mansfield College
• Merton College
• New College
• Nuffield College
• Oriel College
• Pembroke College
• The Queen's College
• Regent's Park College
• Reuben College
• St Anne's College
• St Antony's College
• St Catherine's College
• St Cross College
• St Edmund Hall
• St Hilda's College
• St Hugh's College
• St John's College
• St Peter's College
• Somerville College
• Trinity College
• University College
• Wadham College
• Wolfson College
• Worcester College
• Wycliffe Hall

How to Apply

You should refer to the information below when completing the application form, paying attention to the specific requirements for the supporting documents.

Referees

Three overall, academic and/or professional. Whilst you must register three referees, the department may start the assessment of your application if two of the three references are submitted by the course deadline and your application is otherwise complete.

Official Transcript(s)

Your transcripts should give detailed information of the individual grades received in your university-level qualifications to date.

CV/Résumé

A CV/résumé is compulsory for this course. Most applicants choose to submit a document of one to two pages highlighting their academic achievements and any relevant professional experience.

Personal Statement

A maximum of 800 words. Your statement should be written in English and explain your motivation for applying for the course at Oxford, your relevant experience and education, and the specific areas that interest you and/or you intend to specialise in.

Written Work

One essay of a maximum of 2,000 words. An academic essay or other writing sample from your most recent qualification, written in English, is required.

GRE General Test Results

If you do not hold, or will not shortly hold, a UK or Republic of Ireland undergraduate or postgraduate degree, you must submit the results of a GRE Test obtained within the last 5 years. Applicants from the UK or Republic of Ireland universities may also choose to submit a GRE score. Entrance is very competitive, and most successful applicants have a GRE score of at least 160 for verbal, 164 for quantitative, and 4.5 for analytical.