Economics (MSc) 2021 entry
The MSc in Economics provides advanced, rigorous training in essential elements of economics – microeconomics, macroeconomics and econometrics – plus a range of specialist options covering theoretical and empirical approaches that reflect the interests of the staff in the School.
Key information
Course type
Postgraduate, leading to a Master of Science (MSc)
Course dates
- Start date: 6 September 2021
- End date: 30 September 2022
Information about all programmes from previous years of entry can be found in the archive.
Course duration
One year full time
Entry requirements
- A 2.1 degree classification from a recognised UK university in Economics or a 2.1 joint Honours in Economics and another subject that includes substantial training in mathematics, statistics, microeconomics, macroeconomics and econometrics. If you studied your first degree outside the UK, see the international entry requirements.
- English language proficiency. See English language tests and qualifications.
The qualifications listed are indicative minimum requirements for entry. Some academic Schools will ask applicants to achieve significantly higher marks than the minimum. Obtaining the listed entry requirements will not guarantee you a place, as the University considers all aspects of every application including, where applicable, the writing sample, personal statement, and supporting documents.
Tuition fees
Home: £9,900
Overseas: £20,370
Application deadline
Wednesday 11 August 2021. Applicants should apply as early as possible to be eligible for certain scholarships and for international visa purposes.
Application requirements
- CV or résumé
- either a detailed personal statement including a list of current modules being undertaken (1,000 words) or a sample of academic written work (2,000 words)
- two original signed academic references
- academic transcripts and degree certificates
- evidence of English language proficiency (required if English is not your first language).
For more guidance, see supporting documents and references for postgraduate taught programmes.
Masters programmes in Economics and Finance
Watch students and staff discuss the Masters programmes available in the School of Economics and Finance.
Course information
The MSc in Economics is a one year taught postgraduate programme run by the School of Economics and Finance.
Highlights
- You will learn the theoretical and empirical tools required to understand the increasingly complex and rapidly changing economy.
- Small group teaching allows a high level of student-teacher interaction, encouraging a warm and friendly learning environment.
- Supplementary lectures in mathematical and statistical methods are available at the beginning of the course.
- In the 2014 UK Research Excellence Framework exercise, the School was ranked joint tenth in the UK and second in Scotland on the basis of the quality of its research publications, with over 80% of the research publications being classified as internationally excellent or world-leading.
- The programme focus is to provide a self-contained, rigorous but relevant learning experience that prepares you either to start employment at a senior level in a wide variety of economics-related activities, or to pursue further research.
Teaching format
The programme consists of traditional lectures, as well as tutorials, seminars and computer lab work in small groups. Courses are assessed both continuously and with end-of-semester exams.
You will also complete a 15,000-word dissertation on a topic of your choice which is relevant and appropriate to the MSc.
Every MSc student is assigned an adviser at the beginning of the year. Your adviser will provide you with individual guidance on module choice and academic conduct.
Modules
Each compulsory module typically comprises:
- 20 lecture contact hours
- 10 contact hours for seminars, workshops and tutorials
- intensive independent study.
For more details about each module, including weekly contact hours, teaching methods and assessment, please see the latest module catalogue, which is for the 2020–2021 academic year; some elements may be subject to change for 2021 entry.
You must take three compulsory modules in the first semester. These are:
- Econometric Methods and Applications: advanced level training in econometric methods.
- Macroeconomics: advanced treatment of the core models and concepts used in modern macroeconomics.
- Microeconomics: advanced treatment of the core models and concepts used in modern microeconomics.
In your second semester, you will have the opportunity to choose three modules from a selection of topics.
Examples of optional modules that may be available include:
- Behavioural Finance: examines the effects of behavioural biases in financial markets.
- Econometric Time Series Analysis: provides an advanced treatment of the core theory and practice of time series econometrics.
- Experimental Economics and Finance: focuses on the methodology of experimental economics and the dialogue between theoretical and laboratory-based empirical work.
- Game Theory: provides a thorough advanced treatment of the core models and concepts used in modern game theory
- Industrial Economics: focuses on the structure and mechanisms governing markets and on the way firms compete against each other in the pursuit of profit maximisation.
- International Trade and Migration: examines the causes and consequences of international trade and migration, combining theory with empirical applications.
- Monetary Policy: studies key issues in monetary policy.
- Portfolio Theory and Management: studies key issues in asset allocation, and portfolio composition and management at an advanced level.
MSc Economics students may take up to one advanced undergraduate optional module from the following in the second semester:
- Behavioural Economics
- European Macroeconomics
- Econometrics of Impact Evaluation
The topics, and therefore module titles, vary year on year as they reflect staff research interests. Optional modules are subject to change each year and require a minimum number of participants to be offered; some may only allow limited numbers of students (see the University’s position on curriculum development)
The final element of the MSc is a 15,000-word dissertation. The dissertation should be on an area of economics that you are interested in, and chosen in discussion with your supervisor who will support you through the process.
You will receive training in Semester 1 in framing a hypothesis, conducting bibliographic research, writing a literature survey, and structuring a dissertation.
The modules listed here are indicative, and there is no guarantee they will run for 2021 entry. Take a look at the most up-to-date modules in the module catalogue.
Funding
Recent Graduate Discount
The University of St Andrews offers a 10% discount in postgraduate tuition fees to students who are eligible to graduate or who have graduated from St Andrews within the last three academic years and are starting a postgraduate programme with the University of St Andrews.
After the MSc
Careers
There is a long-standing tradition of Economics graduates working in a wide variety of challenging and rewarding posts including:
- academia
- banking
- commerce
- diplomatic service
- economics
- finance
- government
- industry
- insurance.
They work in the UK, Europe, and North America, and more frequently in locations such as China, Taiwan, Hong Kong, Japan and Thailand.
The Careers Centre offers one-to-one advice to all students on a taught postgraduate course and offers a programme of events to assist students in building their employability skills.
Contact
School of Economics and Finance
University of St Andrews
Castlecliffe
The Scores
KY16 9AR
Phone: +44 (0)1334 46 2439
Email: econpgtapps@st-andrews.ac.uk
Policies
Admission to the University of St Andrews is governed by our admissions policy.
Information about all programmes from previous years of entry can be found in the archive.
Curriculum development
As a research intensive institution, the University ensures that its teaching references the research interests of its staff, which may change from time to time. As a result, programmes are regularly reviewed with the aim of enhancing students' learning experience. Our approach to course revision is described online.
Tuition fees
The University will clarify compulsory fees and charges it requires any student to pay at the time of offer. The offer will also clarify conditions for any variation of fees. The University’s approach to fee setting is described online.