Masters in Economics in UK: Top Universities, Admissions, Fees, Scholarships, Salaries

Why Study Masters in Economics in UK

Economics is a sub discipline within the arena of Social Sciences which educations how goods and service area are produced, distributed, dealt and consumed. Economics also goals to improve the distribution of resources and create stable, expectable markets that guarantee citizens can live prosperous lives. Economists also analyse human behaviour in an power to find patterns and predict financial choices based on factors such as risk and recompense.

Economics has dual sub-disciplines. The first one is Microeconomics, and it examines the interaction between dissimilar economic agents. Macroeconomics, the second one, travels the whole economy of a society.

A Bachelor’s or Master’s degree in Economics imparts you about interest rates, exchange rates, economic pointers, and equity markets, letting you to see how they all influence dissimilar industries around the world. Sequences in Economy will also focus on economic theory and essential economic principles. Scholars develop a broad understanding of public policies and their socio-economic influence on legislation, taxes, service area, and regulations.

You’ll learn how money was shaped and understand how barter works. Other lessons will deal with banks, the dynamics of debt, what credits are and how they effort. You’ll also education financial crashes, their reasons and try to come up with ways to stop future economic disasters.

You’ll have debates on significant questions like: do markets self-regulate, or is there a essential for government intervention to keep them steady? These will allow you to expand your economic information and further comprehend how global economies interrelate between themselves.

To be a great economist you’ll need problem-solving abilities, critical thinking, as well as analytical abilities.

Economics alumnae have effective careers as economists, financial risk analysts, chartered accountants, investment analysts, mathematicians, etc.

Why Study Masters in Economics in UK?

Masters in Economics in UK
Masters in Economics in UK

Brilliant Business Careers Made Possible in the UK

If you have big strategies for a career in commercial, you’ll find the UK one of the best likely places to get the training you need. We’re home to hundreds of scholastically appreciated business schools, contribution great value and an exciting outline to business for both undergraduate and postgraduate educations. 

If you need to know you have the skills, the information and the mind-set obligatory to succeed anywhere, a UK business degree is the best likely investment in your future.

A Global Business Hub

The UK is a global business hub, with a site and time zone that lets it to connect effortlessly with the business world around the sphere. We’re also a state of entrepreneurs. The UK is documented as the seventh best country to start a business, and it’s home to the creation’s top financial city – London – which alone provisions more than 6m jobs. With so many chances, our cities attract businesses from all over the realm, and we’re a leading exporter of ideas, technology and aptitude. 

This diverse diverse talent pool assistances guarantee that UK business graduates permission with transferable skills that can be applied wherever, from multinational organisations to NGOs.

World-Recognized Business Qualifications 

There are over 100 specialist commercial universities in the UK, counting one of the world’s highest ten business universities – London Business School. Each of them builds on eras of expertise to offer modern learning experiences tailor-made for the modern business environment. 

From the managerial essentials to the inspired vision that safeguards companies thrive in random markets, our expert teachers will make certain you have the knowledge and the natures to succeed anywhere.   

Business expertise that’s tailored to you

Many commercial scholars want to leave prepared to step into a large organisation, though others have plans to twitch and grow their individual business from scratch. Whatsoever you have deliberate, a UK business grade will assistance you tailor your learning to those goalmouths. Because you can alumna from an MBA in just one year, you’ll be smearing for jobs and impacting on your chosen markets much sooner than contestants who are learning in other countries.  

You’ll also be knowledge it from some of the finest business brains too. Our business sections have outstanding relationships with local firms and big makes, and as well as giving you industry visions and connections you’ll learn how to smear what you learn in a multipurpose way alongside international scholars with their own unique viewpoints. If you want to go places in business, there’s no better asset in your future.

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why study masters in economics in uk

Top 12 Universities in UK for Masters in Economics

The London School of Economics and Political Science

Founded with the goal of enhancing the society and working to a better future, this college delivers a dynamic environment with thousands of scholars from all around the sphere. The Department of Economics at LSE is one of the foremost economics sections in the world. It is a large department that everything in making unquestionable the mainstream areas of economics are signified powerfully in research and teaching. This university offers the following undergraduate and postgraduate options:

  • BSc Economics
  • BSc Econometrics and Mathematical Economics
  • BSc Economics with Economic History

Postgraduate Programs

  • MSc Economics
  • MSc Economics (Two Year Programme)
  • MSc Econometrics and Mathematical Economics

University of Oxford

Oxford’s Department of Economics is too one of the foremost economics departments in Europe. This department is dedicated to excellence in teaching as well as investigation with some of the best academics as members of the subdivision.

The Department’s MPhil and DPhil databases are known for the excellence of the exercises as well as the scholarships they deliver. The alumnae of this section hold high positions of management in public services, academia, as well as in the secluded sector. The undergraduate and graduate paths this department provides are:

  • A. (Hons) in History and Economics
  • A. (Hons) in Economics and Management
  • A. (Hons) in Philosophy, Politics, and Economics

Postgraduate Programmes

  • MPhil in Economics
  • The Doctoral Research Degree in Economics (DPhil in Economics)
  • Sc. in Economics for Development
  • Sc. in Economic and Social History
  • Sc in Financial Economics
  • MPhil in Economics and Social History

University of Cambridge

The University of Cambridge has additional than 18,000 scholars from all around the realm. With additional than 11,000 staff memberships, 31 Colleges, 150 Departments, Faculties, and Colleges, this university strives for brilliance and achieves it. University of Cambridge also proposals its scholars the possibility of receiving an Economics degree in both undergraduate and postgraduate levels. The programmes it proposals are:

  • BA in Economics
  • Advanced Diploma in Economics
  • MPhil in Economics
  • MPhil in Economic Research
  • MPhil in Finance and Economics
  • PhD in Economics

The Faculty of Economics at the University of Cambridge is one of the eldest faculties in the world. The BA programme in Economics at this ability aims in delivering a solid empathetic of economics, while guaranteeing that students get the needed skills to top in the workplace.

University College London

University College London (UCL) was originated in the year 1826 and had develop one of London’s leading multidisciplinary campuses. It has more than 13,000 staff members and 42,000 scholars arriving from all around the world. They are known as a diverse public that pays special attention to freedom, challenges, and thoughtful outside of the box. The university proposals a change of Economics programmes, such as the following:

  • Economics with a Placement Year BSc (Econ)
  • Philosophy, Politics and Economics BSc
  • Economics and Statistics BSc (Econ)
  • Mathematics with Economics BSc
  • Mathematics with Economics MSci
  • Economics and Geography BSc (Econ)
  • Economics with a Year Abroad BSc (Econ)
  • Economics and Business with East European Studies with a Year Abroad BA
  • Statistics, Economics and Finance BSc
  • Statistics, Economics and a Language BSc
  • Economics and Business with East European Studies BA
  • Philosophy and Economics BA
  • Economics BSc (Econ)

The University of Warwick

The University of Warwick gathers more than 9,500 international students from around 147 countries. It offers not only a wide range of study options but also plenty of opportunities abroad. While studying at this world-leading university, you will be encountered with strong academic challenges that will give you the skills to overwhelmed any obstacle you might face in your academic life. The Economics sequences this university offers are:

  • Economics (BSc)
  • Economics and Industrial Organization (BSc)
  • Philosophy, Politics, and Economics (BA/BSc)
  • Economics, Politics, and International Studies (BA/BSc)
  • Economics, Psychology and Philosophy (EPP) (BA/BSc)
  • French and Economics (BA)
  • Modern Languages and Economics (BA)
  • Hispanic Studies and Economics (BA)

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Postgraduate Programmes

  • Economics (MSc)
  • Economics and International Financial Economics (MSc)
  • Finance and Economics (MSc)
  • Economics and International Financial Economics (MSc)
  • Economics (MRes leading to PhD)
  • Behavioural and Economic Science
  • Economics (Diploma & MSc)

London Business School

Continuously aiming to inspire new ways of thinking, London Business School inspires people to describe their own achievement by challenging the status quo and industry standards. It proposals curious thinkers a place to fast themselves by education them how to think and not what to think.

The Economics group at the London Business School has numerous strengths when it comes to theoretical research. They focus their education in five main areas, such as: economic theoryindustrial economicsstrategic business behaviourthe global macroeconomy, as well as economic integration in Europe.

The University of Manchester

The University of Manchester is recognized as one of the most well-known civic universities with the goal of transmitting information through their research and teaching. They also aim to donate to the well-being of the society and upcoming generations. The University of Manchester proposals the following Economics programmes:

  • Economics (BAEcon)
  • Economics (BSc)
  • Economics and Finance (BAEcon)
  • Economics and Philosophy (BAEcon)
  • Economics and Politics (BAEcon)
  • Economics and Social Statistics (BAEcon)
  • Economics and Sociology (BAEcon)

Postgraduate Programmes

  • Development Economics and Policy (MSc)
  • Economics (MA)
  • Economics (MSc)
  • Financial Economics (MSc)

University of Nottingham

The University of Nottingham proposals unsettled international education, while giving its scholars the skills to become reflective global citizens and leaders. This university is dedicated to excellence, enterprise, and social accountability. It brands sure to stay up to date with the altering industry while behind and improving the communities in which they are situated. The undergraduate Economics programmes the University of Nottingham proposals are:

  • Economics, BSc
  • Economics and Econometrics, BSc
  • Economics and International Economics, BSc
  • Economics with French, BA
  • Economics with German, BA
  • Economics with Hispanic Studies, BA
  • Economics and Philosophy, BA
  • Philosophy, Politics and Economics, BA
  • Mathematics and Economics, BSc
  • Politics and Economics, BA

Postgraduate Programmes:

  • Economics, MSc
  • Behavioural Economics, MSc
  • Economics and Econometrics, MSc
  • Financial Economics, MSc
  • International Economics, MSc
  • Economics, GDip
  • Economic Development and Policy Analysis, MSc
  • Development Economics, MSc

The University of Edinburgh

The University of Edinburgh has a rich history of renowned alumni and distinguished academics. The university has been swaying history ever since it opened, sense many Nobel laureates and well-known figures have joined this university. There are sufficiently of reasons as to why Edinburgh is an outstanding choice for your degree in economics, preliminary from its highly-qualified staff, the high academic ratings, and its ground-breaking structure.

At the University of Edinburgh, you can select to education economics and syndicate it with another subject – this way you will improvement a joint honours degree. The Scottish Graduate Programme in Economics at this university proposals three masters programmes:

  • Economics (MSc)
  • Economics, Econometrics (MSc)
  • Economics, Finance (Msc)

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Queen Mary University of London

This university is one of the foremost research-focused organizations in the UK. But apart from that, it is also one of the uppermost ranked universities with respects to the field of Economy. Furthermore, this university is ranked in the top 50 for English, Drama, and Law in QS Subject Rankings 2018. It is recognized to be a global university with five grounds in London but it also has sites in China, Malta, and Paris. Queen Mary University of London proposals the following Economic courses:

  • Economics, BSc (Econ) (Hons)
  • Economics and Finance, BSc (Econ) (Hons)
  • Economics, Finance, and Management, BSc (Econ) (Hons)
  • Economics and Politics, BSc (Econ) (Hons)
  • Economics and International Finance, BSc (Econ) (Hons)
  • Economics, Statistics and Mathematics, BSc (Econ) (Hons)
  • Mathematics, Statistics and Financial Economics, BSc (Hons)
  • Finance BSc (Econ) (Hons)
  • Graduate Diploma in Finance and Economics, GradDip
  • Accounting and Finance, BSc (Hons)

Postgraduate Programmes

  • Economics, MSc
  • Finance and Econometrics, MSc
  • Economics, MRes
  • Finance, MSc
  • Investment and Finance, MSc
  • Banking and Finance, MSc
  • Law and Economics, LLM
  • Economics and Econometrics, MRes
  • International Economic Law, LLM
  • Behavioural Finance, MSc

University of Birmingham

A public investigation university situated in Birmingham with a rich custom of expertise. Their goal is to inspire and inspire people to make significant things happen. University of Birmingham is a global university with a large diversity of sequences in undergraduate as well as postgraduate heights. It is also highly eminent in the field of economy; the degree programmes and courses it proposals are:

  • Economics, BSc
  • Economics with German, BSc
  • Economics with Spanish, BSc
  • Mathematical Economics and Statistics BSc
  • Money, Banking and Finance, BSc
  • Economics and Political Science, BSc
  • Policy, Politics and Economics, BA

Postgraduate Programmes

  • Economics, MSc
  • Development Economics, MSc
  • Environmental and Natural Resource Economics, MSc
  • Financial Economics, MSc
  • Mathematical Finance, MSc
  • Money, Banking and Finance, MSc
  • International Economics, MSc
  • International Money and Banking MSc

University of Bristol

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Ranked in the realm’s top 50 universities in QS World University Rankings 2020, this university makes its scholars to succeed in their careers and prepares them with the wanted skills to achieve their goals. The Department of Economics at this university is a world-class section, delivering high quality research and novelty. The programmes this section proposals for its talented scholars are:

  • BSc Economics
  • BSc Economics and Accounting
  • BSc Economics and Econometrics
  • BSc Economics and Finance
  • BSc Economics with Study in Continental Europe
Top 12 Universities in UK

Postgraduate Programmes

  • MSc Accounting and Finance
  • MSc Banking, Regulation and Financial Stability
  • MSc Economics
  • MSc Marketing
  • MSc Economics and Finance
  • MSc Finance and Investment
  • MSc Global Operations and Supply Chain Management

Admissions to Masters in Economics in UK

  • Masters Degree Entry Requirements

Considering postgraduate education, but hesitant whether you meet the entry supplies for a Masters-level degree? Postgraduate charges guidelines differ by course and university, but can be quite supple.

Your existing experiences will be significant, but you don’t unavoidably need a great Bachelors degree to smear for a Masters. Your individual circumstances and knowledge may also be considered during the applications procedure.

This guide clarifies the typical Master’s degree entry supplies for a Masters, which comprise:

An undergraduate degree in a pertinent subject – Contingent on the programme and organization, you may need a 2.1 in your Bachelors, but this isn’t continuously the case

Language proficiency – If English isn’t your first linguistic, you’ll need to display a certain ability level, typically through a language test

Professional experience – Some postgraduate programmes may need you to have some professional experience (this is typically the case for PGCEs and Masters in Social Work)

Entrance examinations – These are only obligatory in certain subject parts and qualifications, counting some MBAs

Academic qualifications

As postgraduate qualifications, Masters courses are envisioned for scholars who’ve previously completed a Bachelors degree or other undergraduate sequence.

These existing qualifications show potential universities that you have the information and academic aptitude to succeed at Masters level. As such, your preceding degree results may be one of the most important entry supplies for postgraduate options.

A Bachelors (or other undergraduate) degree

Most UK universities require candidates to have a Bachelors degree in a pertinent subject. International candidates should hold an foreign qualification of a alike standard, from a recognised higher edification institution.

You’ll usually need an upper second class degree (a ‘2.1’) or its equal for entry to a Masters degree. Certain universities and options also accept scholars with lower second class degrees (2.2s).

In explanatory circumstances, it might even be likely for a scholar with a third class degree to last to postgraduate study.

Note that some Masters sequences do not stipulate the exact grade obligatory, and instead request candidates with a ‘good honours degree’. This greeneries slightly more room for interpretation, but usually means either a first or a 2.1.

In some cases, you may be able to apply for a Masters devoid of a degree. This is typically only an choice if you have extensive relevant work experience, though. For example, some MBAs accept candidates without an undergraduate degree if they have sufficiently of employment experience.

Pre-Masters courses

Some universities offer Pre-Masters courses, which provide scholars with the chance to improve their skills in order to meet the academic supplies for postgraduate education.

Pre-Masters courses may be obtainable to international scholars, to help improve their research skills and academic skill in the English language.

They may also be obtainable to UK scholars who need an academic boost before beginning postgraduate education. An example of this kind of Pre-Masters course is the Subject Knowledge Improvement (SKE) course. The SKE is offered to scholars who wish to train as teachers, but do not feel self-assured with the topic they wish to teach.

The Postgraduate Certificate or Diploma

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In some circumstances, a university may ask a scholar to whole a Postgraduate Certificate (PGCert) or Postgraduate Diploma (PGDip) before registering on the corresponding Masters. This might be the circumstance if a scholar doesn’t have the vital academic qualifications to enrol on a Masters choice straightaway.

The Diploma is itself a postgraduate requirement, and is typically shorter than a full Masters course. Boosting the Diploma to a full Masters is often just a circumstance of carrying out a postgraduate dissertation, but this differs course by option.

The regular cost of a taught Masters grade in the UK is £8,407, but postgraduate fees can vary greatly between dissimilar subject areas, universities and nations. You’ll also need to cover living costs and additional study expenditures.

This page is here to help you comprehend the cost of Masters education. We’ve brought together detailed info on typical fees for different types of Masters degrees, crossways the UK and Europe. We’ve also abridged some of the other expenditures you may have to economical for as a postgraduate.

Knowing how much you’ll have to pay for advanced study will make your exploration for funding more effective – and assistance you budget during your course.

Masters fees in the UK

Postgraduate sequences in the UK are usually cheaper, per year, than undergraduate courses.

Whereas a typical UK Bachelors degree can cost up to £9,250, regular fees for a UK scholar on a classroom-based taught Masters are £8,407. There’s a bit additional you need to know to properly understand how postgraduate fees work.

Unlike undergraduate fees, which are subject to a cap, the costs for UK Masters programmes are set by universities themselves.

This means that grades in the same subject can cost additional or less than others. There are also dissimilar types of Masters degree and the costs for these vary too.

The following table displays average fees for different types of postgraduate sequence in the UK.

Average UK Masters degree fees
ClassroomMA (Arts / Social Sciences)£8,407£16,082
LaboratoryMSc (Science / Engineering)£9,647£18,613
ResearchMRes / MPhil£4,000+£10,000+

Fees in different parts of the UK

The cost of a Masters also differs quite a bit across the UK, partially due to changes in the way universities (and students) are funded.

Here’s a quick comparison of regular classroom-based taught Masters fees in England, Scotland, Wales and Northern Ireland. We’ve likewise comprised the maximum postgraduate loan obtainable to students ‘from’ each country, as a handy reference.

Masters fees in different parts of the UK
CountryAverage feesMax Postgraduate loan
Northern Ireland£6,110£5,500

Scholarships for Masters in Economics in UK

Government-funded UK scholarships for international scholars

  • British Chevening Scholarships – UK scholarships for global students funded by the UK Foreign and Commonwealth Workplace and partner organizations. The scholarships deliver full or part funding for full-time graduate programs in any topic.
  • Commonwealth Scholarships for Developing Commonwealth Countries – Scholarships for global scholars from developing countries in the Nation, for studies at master’s and PhD level.
  • Commonwealth Shared Scholarship Scheme at UK Universities – UK scholarships for international scholars undertaking taught master’s programs in the UK. Programs deliberate must be obviously relevant to the development of skill, economy or society within the scholar’s country of origin.
  • Marshall Scholarships – Postgraduate grants for US scholars showing academic merit, management potential and ambassadorial potential to education in the UK. Excludes MBAs and certain sequences.

Non-governmental UK scholarships for international students

  • Euraxess UK – Euraxess is an inventiveness of the European Commission, providing provision for researchers in Europe. The UK division of the scheme is run by the British Council, contribution numerous graduate research grants for international scholars from around the world.
  • CastleSmart Scholarship – Estate agent CastleSmart proposals £6,000 annually for an scholar scholar in the UK (open to all nationalities). Candidates must create a compelling YouTube video exactness their study and career plans.
  • Surfshark Privacy and Security Scholarship – A $2,000 prize is obtainable to a student now enrolled in the UK or another study terminus as a high school, undergraduate or alumna scholar. You will need to succumb an essay to apply and the scholarship is open to all nationalities. 
  • The Royal Society Grants – Numerous grants and communions are available for talented researchers in the UK and beyond.

For African students:

  • Aga Khan Foundation Scholarship Program – Need-based UK grants for international scholars from Africa.

Jobs after Masters in Economics in UK

Studying social policy and financial markets as part of an economics degree opens up jobs in finance, accountancy and government sections

Job options

Jobs directly connected to your degree comprise:

  • Actuarial analyst
  • Chartered accountant
  • Compliance officer
  • Data analyst
  • Economist
  • External auditor
  • Financial risk analyst
  • Investment analyst
  • Political risk analyst
  • Risk manager
  • Statistician
  • Stockbroker

Jobs where your degree would be valuable comprise:

  • Business development manager
  • Civil Service fast streamer
  • Data scientist
  • Diplomatic service officer
  • Local government officer
  • Management consultant
  • Policy officer
  • Quantity surveyor

Remember that numerous employers receive applications from alumnae with any degree subject, so don’t limit your thinking to the jobs registered here.

Work experience

Look for work knowledge within the job subdivision that you’re absorbed in. For instance, if you would like to effort as an economist, you may want to reflect applying for a place on the Government Economic Service (GES) summer arrangement. You will need to be in your last but one year and have a predicted score of a 2.1 or first.

Individual government sections may also be talented to offer work knowledge and you should contact the section directly to find out more.

You could also reflect work experience or work surveillance in areas such as accountancy, banking or economics. Contact local companies to see if they can help you.

Any work knowledge is useful as it allows you to build vital skills in a diversity of areas including team working, communication and time administration. Contact local volunteering or charity groups such as Do-it for volunteering chances.


You’ll need to obligate:

  • well-developed investigation skills
  • the aptitude to extract and analyze relevant data using a range of statistical software packages
  • outstanding written and spoken communication skills to convey complex ideas to people with varying levels of economic expertise
  • the skill to build productive working relationships and work within a team
  • excellent structural and time management skills
  • the ability to work alone under pressure, often to tight limits
  • accuracy and attention to detail
  • the ability and sureness to make sound judgements and recommendations
  • the ability to juggle and priorities dissimilar tasks
  • project management services
  • a genuine interest in economics and present affairs
  • self-reliance and motivation
  • good IT services.

Foreign linguistic skills can be helpful, particularly if you’re considering secondments overseas.

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