MSc Economics

Key details

MSC ECONOMICS

Start Year

2022

Attendance

Full Time

Award

Degree of Master of Science

Duration (years)

Equip yourself to become a professional economist with this Master’s degree in economics – a broad-based research-training course designed to provide you with an opportunity to develop theoretical and quantitative skills.

With compulsory modules covering economic theory and econometrics, as well as options in a number of areas including development economics, environmental economics and finance, our MSc Economics course is ideal if you’d like to pursue a career in government, financial institutions, business, commerce, international agencies and other similar organisations. It’s also an excellent step towards studying a PhD in the field.

About

MSc Economics is part of our Academic and Professional Programme – designed for people who want to pursue a career as a professional economist within government and industry or move into PhD study.

It’s ideal for you if you’ve already studied economics and are looking for intensive research-led training in advanced economic theory, econometrics and research methods. You should have a good undergraduate degree (equivalent to a 2:1 or a 1st) with a substantial component of economics, or a graduate diploma in economics.

The core, compulsory component of the degree consists of taught modules in economic theory and econometrics. In addition to these, you can choose options from a range of modules including Behavioural and Experimental Economics, Finance, Industrial Organisation and Competition Economics, and Development Economics.

You'll also write a dissertation towards the end of your 12 months with us. You’re free to choose your own dissertation topic, and will be supported and supervised by a member of the School of Economics.

We also offer additional support to help you get the most from your Master’s. This includes an optional, intensive pre-sessional course in the fortnight before your programme begins in September. This course incorporates the techniques of calculus and matrix algebra and an introduction to the specialist econometric software that you'll use in your MSc programme. While not compulsory, we strongly recommend you take advantage of this fantastic opportunity.

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Important Information

Whilst the University will make every effort to offer the courses listed, changes may sometimes be made arising from the regular review of course programmes. Where this activity leads to significant (but not minor) changes to programmes, there will normally be prior consultation of students and others. Changes may for example consist of variations to the content and method of delivery of programmes, courses and other services, to discontinue programmes, courses and other services and to merge or combine programmes or courses. The University will endeavour to keep such changes to a minimum, and will inform students.

Assessment for Year 1

Your coursework will be in a variety of forms – including take-home assignments, seminar presentations, written tests, computer tests and your dissertation (which you'll submit at the end of August).

Throughout your course you'll be given guidance on your work and constructive feedback to help you improve. You will receive written feedback for all pieces of coursework and further guidance will be available from module organisers.

If you have additional needs due to disabilities such as sensory impairment or learning difficulties such as dyslexia please talk to our Student Support Service about how we can help.

Structure

The MSc Economics is a one-year course. In each semester you'll take three modules, followed by writing your dissertation in the period between June and August.

In your autumn semester you'll take Economic Theory I, Econometric Theory, and an optional module. In spring you'll take Economic Theory II, Applied Econometrics, and another optional module.

You can choose from a wide range of optional modules including Behavioural and Experimental Economics I and II, Industrial Organisation and Competition Economics, Empirical Industrial Organisation and Competition Policy, Finance, Financial Mathematics, International Finance, Microeconomics of Development, Macroeconomics of Development, Environmental and Natural Resource Economics.

Although you'll write your dissertation between June and August, you'll begin your dissertation module with a sequence of dissertation training lectures and workshops in spring. Here you'll discover how to choose a topic, how to access data and search literature and how to analyse quantitative data.

You will be able to take advantage of further dissertation training workshops in late June and early July.

Teaching and Learning

UEA’s School of Economics is lively, friendly, research-orientated and committed to excellence in teaching. We have an international reputation in many key areas, including theoretical and applied economics. Our research interests include behavioural economics, competition economics, environmental policy, conflict, contests and corporate behaviour, and finance and financial markets.

Teaching of each of your modules will be spread over two semesters. In a typical module, you'll have lectures and seminars per week. Your seminars are more interactive than lectures and provide you with an opportunity to raise questions arising from lectures.

In your econometric modules, you'll learn how to conduct econometric analysis using specialist econometric software.

You'll also become practiced in independent study, spending time working on coursework assignments, preparing for seminars, and doing your own wider reading.

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Open Days

Assessment for Year 1

If you have additional needs due to disabilities such as sensory impairment or learning difficulties such as dyslexia please talk to our Student Support Service about how we can help.

Compulsory Modules

APPLIED ECONOMETRICS

Code ECO-7001B

Credits 20

This module builds on econometrics material covered in earlier modules and is divided into two parts: 1) Time series methods (including ARIMA modelling, stationarity testing, ARCH/GARCH models, Volatility Spillover, VARs , Cointegration and VECMs) 2) Microeconometrics (including panel data methods, and models for binary response variables) There is an emphasis on the practical application of common estimation techniques, with the specialist econometric software package Stata used extensively.

ECONOMETRIC THEORY

Code ECO-7002A

Credits 20

This module focuses on various theoretical aspects within the linear regression framework using matrix algebra, complemented by simulations and applications to provide more intuition. A specialist econometrics software is used throughout, allowing a better understanding of the theoretical material using real world data and simulations. After a review of fundamental concepts in Econometrics, the module progresses to a detailed discussion of the multiple linear regression model (MLR), focusing on the theory of estimation, inference, and other important issues, such as, model misspecification and models that involve nonlinearities. The properties of the OLS estimator are discussed in detail, and simulated examples show all the adverse consequences on these properties if certain assumptions in the data or the population do not hold. Real world applications are considered, discussing whether these assumption hold in reality. For example, the presence and consequences of having non-spherical errors is discussed, focusing on the problem of heteroscedasticity. Moreover, special attention is paid on the problem of endogeneity, while the instrumental variable approach is presented as the main strategy to deal with it.

ECONOMIC THEORY I

Code ECO-7003A

Credits 20

This is an advanced module in microeconomic theory, designed for postgraduate students with a strong background in economics. The topics covered in this module include the duality approach to demand theory, firm theory, general equilibrium theory, game theory, choice under uncertainty, agency theory and the economics of asymmetric information. The rational-choice foundations of microeconomics are also critically examined.

ECONOMIC THEORY II

Code ECO-7019B

Credits 20

IN TAKING THIS MODULE YOU CANNOT TAKE ECO-7016B IT IS RECOMMENDED THAT STUDENTS TAKE ECO-7003A IN THE AUTUMN SEMESTER. The module is about modern macroeconomic theory where economies and not their parts are studied. The focus is consequently on the overall performance of the economy rather than on the functioning of particular parts of the economy. The module uses dynamic general equilibrium models where consumers, firms and governments are modelled as forward-looking agents who make the best of the economic environment they live in.

ECONOMICS DISSERTATION (60 CREDITS)

Code ECO-7023X

Credits 60

Economics Dissertation is the “icing on the cake” of an Economics MSc. It is a module that brings together the skills that you have learnt throughout your degree programme and applies these skills to study a particular topic of your interest. This module gives you an opportunity to spend a period of 2 or 3 months working exclusively on a topic of your own choice, at your own pace, with guidance from a supervisor. The module commences with a sequence of “dissertation training” lectures during the Spring Semester, including such themes as choosing a topic, accessing data, searching the literature, referencing, and qualitative data analysis. There are further dissertation training lectures during late June and early July, held in computer labs, with the objective of providing the types of econometric skills often required in dissertation research. The Econometric software STATA is used, the same as used in taught modules in Econometrics. At the end of the Spring semester, you will submit a research proposal stating the research question you would like to address and proposing a suitable methodology. You can also select to work on a dissertation topic either with a business, charity, or other organization. In all cases, it is your responsibility to come up with a research proposal although you are encouraged to speak with instructors and the PG Course Director for advice and guidance. On the basis of your proposal, a suitable supervisor will be allocated to you. At least three meetings with the supervisor should take place between May - July. The total contact time over these meetings should be at least three hours. At the first meeting, the research proposal is discussed. By the time of the third and final meeting, you should ideally have supplied a first draft of the dissertation for your supervisor to provide feedback on. The deadline for the dissertation is at the end of August and the word limit for dissertations is either 8,000 or 12,000, depending on which MSc you are taking. If you want to work on a dissertation topic with a business, charity, or other organization you must get your dissertation topic pre-approved by the PG Course Director.

Optional A Modules

(20 credits)

MICROECONOMICS OF DEVELOPMENT

Code DEV-7018A

Credits 20

The module provides the building blocks for microeconomic analysis of development. Topics include: • Poverty, inequality and welfare • Agricultural household production • Intra- household allocation • Risk, uncertainty and insurance • Markets and Institutions: credit • Markets and institutions: labour • Human capital : education, health and nutrition • Public goods, collective action • Institutions, transaction costs • Policy reforms • Household surveys and their analysis. The module consists of lectures, seminars and workshops. Students are assessed by essay and exam.

INDUSTRIAL ORGANISATION AND COMPETITION ECONOMICS

Code ECO-7006A

Credits 20

We first examine monopoly behaviour. We then study competition, and present game theoretic approaches to oligopoly pricing, collusion and product differentiation. Next, we consider the pricing strategies used by firms to extract more surplus from consumers, given the (often limited) information available to them (price discrimination). Advanced topics covered subsequently include: entry and entry deterrence, market intermediaries and two-sided markets, R&D and innovation, advertising, mergers, behavioural IO. This is essentially a module in applied microeconomic theory, but we occasionally briefly comment on implications for policy. A much fuller treatment of empirical and policy issues is left to the spring semester industrial organisation module.

FINANCE

Code ECO-7008A

Credits 20

Have you ever wondered why firms buy other firms, or why that trendy technology firm recently issued some shares? Why stock prices go up (and down)? What do we know about financial markets and, importantly, what don’t we understand? This module introduces a range of concepts related to the financial decisions firms have to make, and how these decisions lead to the existence of the stock markets that feature in the daily news. The early part of the module introduces the subject area by considering a range a fundamental concepts. From this foundation, you’ll learn how firms make financial decisions and how these decisions are interrelated. The later part of the module investigates how stock markets work, the risks involved, and the extent to which these risks can be avoided. On successful completion of the module, you’ll have gained the knowledge and skills for setting out on a career in finance, or for further study of corporate finance and financial markets. You’ll better understand financial news and be better-placed to discuss it, drawing on discussion from academic literature. You’ll be able to discuss and answer the sorts of questions prospective employers, friends and family might reasonably ask a finance postgraduate.

FINANCIAL MARKETS

Code ECO-7012A

Credits 20

This module explores modern portfolio theory and asset pricing, behavioural finance, and the efficient markets hypothesis. You’ll examine modern equilibrium asset pricing models, which in turn build upon the concepts of portfolio theory. You’ll be introduced to the Capital Asset Pricing Model (CAPM) and discuss approximations and extensions, including the Single Index model and various factor models such as the recent Fama-French (2015) 5-factor model. Key concepts will be illustrated through lectures and seminars, using numerous real-world examples in Excel.

BEHAVIOURAL AND EXPERIMENTAL ECONOMICS I

Code ECO-7021A

Credits 20

This module provides an introduction to experimental economics. We consider why economists sometimes choose to conduct experiments, the kinds of insights they can give us, and the various kinds of experiments that have been conducted. We will cover the insights from experimental economics in several areas, such as individual decision making, markets, coordination, negotiation, charitable giving, public goods games, and games with pre-play communication. In this module, you will develop the following transferable skills: 1. Presentation skills - you will present path breaking work in the field to your peers. 2. Critical thinking skills - you will write a critical review of cutting-edge work. 3. Writing skills - you will learn to distil the essence of existing work with a view to discovering what you can build on yourself. 4. Research skills- finally, based on your critical reading of the current state of the art of the field, you will design your own research experiment.

PROGRAMMING AND ANALYTICS FOR BEHAVIOURAL ECONOMISTS

Code ECO-7026A

Credits 20

This Autumn Semester module is intended to provide students with a grounding in the programming and data-analytic techniques that will be used in later modules and also in the dissertation. The main part of the module introduces students to programming methods in Python, including use of loops and lists, data cleaning and manipulation, methods of exploratory data analysis, data visualisation, web scraping, and methods for working with multiple data sets. Ethical issues faced when working with individual data will also be covered. The programming methods will then be applied to problems in policy evaluation, including applications of D-in-D and regression discontinuity methodology to naturally occurring data. The module ends with the use of web-search data in Economic Analysis.

Optional B Modules

(20 credits)

MACROECONOMICS OF DEVELOPMENT

Code DEV-7029B

Credits 20

This module will provide you with an understanding of macroeconomic theory and policy in developing countries. This will include an evaluation of alternative theories of economic growth and their policy implications, and an analysis of the macroeconomic effects of external shocks. By the end of the module, you will have a good understanding of modern theories of economic growth and open economy macroeconomics, and be able to apply those theories to economic policy issues in developing countries.

EMPIRICAL INDUSTRIAL ORGANISATION AND COMPETITION POLICY

Code ECO-7005B

Credits 20

BEFORE TAKING THIS MODULE YOU MUST TAKE ECO-7006A (INDUSTRIAL ECONOMICS I) This is a graduate-level module in industrial economics, designed for students with a strong prior background in economics. It investigates a number of empirical topics in industrial organisation and competition policy, building on the theoretical insights provided by Industrial Economics I. Topics include collusion, predatory behaviour, price discrimination, bundling, product differentiation, vertical restraints, mergers and merger simulation, entry and industrial concentration and effectiveness of competition policy.

FINANCIAL MATHEMATICS

Code ECO-7013B

Credits 20

This technical finance module is suited to students who wish to pursue a career in the financial sector. The focus is on valuation and risk analysis of financial products, and the module is highly analytical, with weekly exercise sessions in computer labs. Topics covered include: continuous-time stochastic processes, stochastic models for security prices, bonds, term structure of interest rates, futures and forwards, options, swaps, hedging and credit risk.

INTERNATIONAL FINANCE

Code ECO-7015B

Credits 20

Are foreign exchange rates predictable? How can a firm hedge foreign exchange risk? What effect do interest rates have on currency values? Why are exchange rates so volatile? Are exchange rates based on macroeconomic fundamentals, or determined by speculative activity? These are the types of questions you will explore on this module. International Finance lies at the intersection of finance and macroeconomics. You’ll begin by learning the general finance tools of option pricing and risk management, before focusing on how to apply these tools to look, in particular, at exchange rates. This will involve understanding the structure of the foreign exchange market, examining theories of exchange rate determination, and looking at the foreign exchange futures and options markets. You’ll learn through a mixture of lectures, which have regular intervals for team or individual work, as well as seminars and self-study. Assessment comprises of technical and essay questions. By the end of the module you’ll be equipped for further study in financial economics or a career in the finance industry, particularly in roles related to foreign exchange.

ENVIRONMENTAL AND NATURAL RESOURCE ECONOMICS

Code ECO-7020B

Credits 20

Gain a thorough grounding in the key issues in environmental and resource economics. This module provides an overview of the economic and econometric principles that serve as pivotal tools in ensuring that natural resources are sustainably valued and managed in a global economic environment. The applied nature of the module is complemented by technical papers that form the subject of the discussions in seminar sessions. Open to postgraduate students enrolled on both ATP and APP programmes, this module will enhance the econometric principles taught in the Autumn Semester by applying analytical and statistical methods to the field of environmental economics so as to emphasise the empirical relevance of these theories.

BEHAVIOURAL AND EXPERIMENTAL ECONOMICS II

Code ECO-7022B

Credits 20

This module is a continuation of Behavioural and Experimental Economics I. In the first part, we describe and discuss further insights from Behavioural Economics. In the second part, we learn about experimental design and methodology. You formulate your own behavioural research questions and hypotheses, and develop an experimental design for collecting and analysing data.

Clearing and Admissions Live Chat

Open Days

Important Information

Whilst the University will make every effort to offer the modules listed, changes may sometimes be made arising from the annual monitoring and review of modules. Where this activity leads to significant change to a programme and modules, the University will endeavour to consult with affected students. The University may not be able to offer a module for reasons outside of its control, such as the illness of a member of staff. Availability of optional modules may be restricted owing to timetabling, lack of demand, or limited places. Where this is the case, you will be asked to make alternative module choices and you will be supported during this process.

MSc ECONOMICS

MSC ECONOMICS

About

Important Information

After the Course

Career destinations

Assessment for Year 1

Structure

Teaching and Learning

Assessment for Year 1

Compulsory Modules

Optional A Modules

Optional B Modules

Important Information

Entry Requirements

Degree classification

Degree subject

Additional entry requirements

Students for whom english is a foreign language

Intakes

Fees and Funding

Course related costs

How to Apply

FURTHER INFORMATION

Economics

MSc ECONOMICS

MSC ECONOMICS

About

Important Information

After the Course

Career destinations

Assessment for Year 1

Structure

Teaching and Learning

Assessment for Year 1

Compulsory Modules

Optional A Modules

Optional B Modules

Important Information

Entry Requirements

Degree classification

Degree subject

Additional entry requirements

Students for whom english is a foreign language

Intakes

Fees and Funding

Course related costs

How to Apply

FURTHER INFORMATION

Related Courses

MSC Quantitative Financial Economics

MSC Competition Economics and Policy

MSC International Business Economics

MSC Behavioural and Experimental Economics

MSC Economics and International Relations

MSC Development Economics

MSC International Business Finance and Economics

MSC Global Media Economics

Economics