MSc Economics

Program Overview

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What will a post COVID-19 world look like? Can you predict when the economy will recover? How will we adapt to overcome the challenges posed by pandemic uncertainty? Economics isn’t optional to study right now: it’s vital to our future well-being in a post COVID-19 world. The skills you learn at Essex will be in high demand from employers in the coming years. At Essex we have a unique strength in public policy measures to stimulate and manage the economy, including the behavioural techniques to get messages across. You could combine study of health economics with public economics and development economics to get a broad view of how one can respond to a threat such as COVID-19, balancing home and global needs. Economic recovery is probably one of the most pressing and urgent challenges right now and studying an economics degree gives you the unique tools to take on this challenge, find a solution, and improve well-being. At Essex we push the frontiers of accepted wisdom, critically examining the decisions of individuals, the strategies of firms, and the policies of governments to understand and challenge the standard paradigms of economics. In our popular flagship masters course you will develop the expert research mind-set required for a high-profile job in finance or business. You gain a rigorous training in the key areas of economics through studying the following topics:

• Strategic behaviour, public choice and general equilibrium
• Modern theory and methods with application to policy
• Optimisation theory, formal economic arguments, and the role of equilibrium
• Econometric methods

We are 4th in UK for research power in economics and econometrics (Times Higher Education research power measure, Research Excellence Framework 2021). Much of this world-class research is related to policy, and we have particular strengths in the areas of:

• Game theory and strategic interactions
• Theoretical and applied econometrics
• Labour economics

The quality of our work is reflected in our stream of publications in high-profile academic journals, including American Economic Review, Econometrica, and Review of Economic Studies. With this course you also have the opportunity to study abroad at one of our partner institutions and achieve a dual award, which means you’ll receive two Masters degrees in two years. Find out more on our dual award webpage. Why we're great.

• We are one of Europe's leading economics departments – learn with other research stars to break new ground
• Ranked 18th in the UK for Economics in the QS World University Rankings by Subject (2023)
• Access extensive quantitative analysis software and a large number of economics databases

Our expert staff

Study and work alongside some of the most prominent economists of our time. Our researchers are at the forefront of their field and have even received MBEs, with students coming from across the globe to study, research or work with us. Many of our researchers also provide consultancy services to businesses in London and other major financial centres, helping us to develop research for today's society as well as informing our teaching for the future. For a full list of research interests, see our Department’s staff pages .

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Specialist facilities

Take advantage of our wide range of learning resources to assist you in your studies:

• Extensive software for quantitative analysis is available in all computer labs across the university
• Access a variety of economics databases and multiple copies of textbooks and e-books in the Albert Sloman Library

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Your future

After completing your masters, you may wish to extend your knowledge with a research degree – many Essex graduates decide to stay here for further study. Alternatively, our course also prepares you for employment; recent surveys have shown that higher degree graduates are more likely to obtain jobs at professional or managerial level. Our recent MSc Economics graduates have gone on to work for a range of high-profile organisations:

• The Ministry of Finance
• HM Treasury
• The Work Foundation
• Fitch Ratings
• Schroders Investment Management

More generally, our graduates find employment in roles such as business and financial analysts, management consultants, government officials, and economists for banks and other financial organisations. We work with the University’s Careers Services to help you find out about further work experience, internships, placements, and voluntary opportunities.

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One Masters not enough for you?

We offer a number of postgraduate taught dual awards with our international partners. You work for two Masters degrees, one at Essex and another at a prestigious university across the globe, gaining them both in a shorter time than studying them separately. This unique opportunity gives you a competitive edge when applying for jobs or prepares you for PhD study.

Program Outline

Course structure

Our research-led teaching is continually evolving to address the latest challenges and breakthroughs in the field. The following modules are based on the current course structure and may change in response to new curriculum developments and innovation. We understand that deciding where and what to study is a very important decision for you. We’ll make all reasonable efforts to provide you with the courses, services and facilities as described on our website. However, if we need to make material changes, for example due to significant disruption, or in response to COVID-19, we’ll let our applicants and students know as soon as possible.

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Components

Components are the blocks of study that make up your course. A component may have a set module which you must study, or a number of modules from which you can choose. Each component has a status and carries a certain number of credits towards your qualification.

Status	What this means
Core	You must take the set module for this component and you must pass. No failure can be permitted.
Core with Options	You can choose which module to study from the available options for this component but you must pass. No failure can be permitted.
Compulsory	You must take the set module for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.
Compulsory with Options	You can choose which module to study from the available options for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.
Optional	You can choose which module to study from the available options for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.

The modules that are available for you to choose for each component will depend on several factors, including which modules you have chosen for other components, which modules you have completed in previous years of your course, and which term the module is taught in.

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Modules

Modules are the individual units of study for your course. Each module has its own set of learning outcomes and assessment criteria and also carries a certain number of credits. In most cases you will study one module per component, but in some cases you may need to study more than one module. For example, a 30-credit component may comprise of either one 30-credit module, or two 15-credit modules, depending on the options available. Modules may be taught at different times of the year and by a different department or school to the one your course is primarily based in. You can find this information from the module code . For example, the module code HR100-4-FY means:

HR	100	4	FY
The department or school the module will be taught by. In this example, the module would be taught by the Department of History.	The module number.	The UK academic level of the module. A standard undergraduate course will comprise of level 4, 5 and 6 modules - increasing as you progress through the course. A standard postgraduate taught course will comprise of level 7 modules. A postgraduate research degree is a level 8 qualification.	The term the module will be taught in. AU : Autumn term SP : Spring term SU : Summer term FY : Full year AP : Autumn and Spring terms PS: Spring and Summer terms AS: Autumn and Summer terms

Year 1 Wish to conduct your own research using econometric methods? Understand econometric methods and learn to apply them to a wide variety of situations. Examine methods of linear regression and hypothesis testing. Study time series concepts of unit roots and co-integration. Explore ideas around simultaneous equation models and panel data models. View Econometric Methods on our Module Directory What mathematical concepts are vital to understanding modern economic theory? Gain the essential mathematics skills needed to study economics at Masters-level, such as optimisation theory and the role of equilibrium. Understand how economic arguments work and improve your problem solving skills by using real-world economic problems. View Mathematical Methods on our Module Directory What are the concepts and methods of modern microeconomics? And how can you apply economic reasoning to this? Understand the main principles and theories of modern microeconomics, looking at topics like contract theory, equilibrium concepts in game theory, and market signalling. Learn to apply economic reasoning to these arguments. View Microeconomics on our Module Directory What are the main issues facing the modern macroeconomist? How do you critically assess macroeconomic policies? Acquire the necessary tools for macroeconomic analysis, focusing on the important questions faced by macroeconomists today. View Macroeconomics on our Module Directory COMPONENT 05: OPTIOL Option from departmental list (40 CREDITS) COMPONENT 06: OPTIOL Option from departmental list (20 CREDITS) What interests you? Undertake a research project of your choosing, studying a specific economic issue or set of problems in depth, with supervision from our world-leading academic staff. Gain experience of original and independent work, making use of and building on skills that you have acquired during your Masters. View Dissertation on our Module Directory

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Teaching

• Core components can be combined with optional modules to enable you to gain either in-depth specialisation or a breadth of understanding across several topics
• Our postgraduates are encouraged to attend conferences and seminars

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Assessment

• Each module is assessed with a final examination and a coursework component
• Coursework is taken in the form of a term paper or a midterm test

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Dissertation

• You undertake an individually supervised research project that involves the in-depth study of a specific economic problem or issue