MSc Applied Economics and Data Analysis

Program Overview

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How can different kinds of data inform us on economic issues? On this course you learn how economic data analysis can address practical problems within business, accounting, and development. Our MSc Applied Economics and Data Analysis is run jointly between our Department of Economics and our Institute for Social and Economic Research (ISER), which specialises in the analysis of household and labour market data. On our course you will be provided the tools for analysing and implementing some of the models that are present in theory modules. You study data-orientated, applied modules, exploring topics including:

• Techniques used in the analysis of panel data
• The specification of models and the tests of their validity
• Methods for analysing persistence over time in economic variables
• Handling different types of datasets
• Survey methodology and sampling frames, and how to deal with problems of response rates and attrition

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 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.

• Work with the Institute for Social and Economic Research (ISER), analysing the latest UK household and labour market data
• Combine your passion for economics with techniques for collection, managing and analysing big data
• Sharpen your mathematical brain to improve your problem solving skills by using real-world economic problems

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. You will develop key employability skills including analytical reasoning, mathematical techniques, model building and data analysis. Previous students on this course have gone on to roles such as Data Manager for The Health Foundation, Research and Analytics for Essex County Council and as an Analyst for Gain Theory. 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 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 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 with panel data? And the main econometric techniques to analyse panel data? What methods can you use to evaluate spell duration data? Answer such questions with examples from labour economics, while gaining the skills to analyse a variety of research and policy problems. View Panel Data Methods on our Module Directory What are the issues regarding different types of panel datasets? Or problems with survey methodology? Understand longitudinal data analysis by using micro-econometric techniques and critically examine survey methodology issues, like response rate and sampling frames. Apply panel data methods to study labour markets, focusing on marriage, unemployment and wages. View Applications of Data Analysis on our Module Directory COMPONENT 06: OPTIOL EC501-7-AU or EC966-7-AU (20 CREDITS) COMPONENT 07: OPTIOL Economics option from departmental list (20 CREDITS) COMPONENT 08: OPTIOL Economics option from departmental list (20 CREDITS)

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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