Economics MA (Hons) 2021 entry
The MA (Hons) in Economics provides a structured, cumulative and rigorous foundation in economic concepts, principles, analysis, techniques and knowledge. You will develop your analytical and decision-making abilities through training in quantitative and model-based methods of analysis.
Students studying economics at St Andrews have the opportunity to focus on macroeconomics, choice theory, international economics and development, game theory, international economics and development, competition and innovation, and climate change.
Economics is available as both a Bachelor of Science (BSc) and a Master of Arts (MA) degree. The content of the subjects is the same irrespective of Faculty. Students who have a background in the arts or who wish to study Economics alongside Art subjects at St Andrews should apply for the MA. For those interested in studying Economics alongside Science subjects, the BSc in Economics may be of interest instead. The entry requirements are the same for all single Honours Economics degrees, and the chance of receiving an offer is the same for each of these degrees.
Key information
UCAS code
L100
Course type
Master of Arts (single Honours degree)
Course duration
Four years full time
- Start date: 6 September 2021
- End date: 30 June 2025
Information about all programmes from previous years of entry can be found in the archive.
Entry requirements
These grades are the overall standards required to consider you for entry. Find out more about Standard, Minimum and Gateway entry requirements using academic entry explained and see which entry requirements you need to look at using the entry requirements indicator.
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- Standard entry grades: AAAAB
- Minimum entry grades: AABB
- Gateway entry grades: BBBB
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- Standard entry grades: AAA
- Minimum entry grades: ABB
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- Standard entry grades: 38 (HL 6,6,6)
- Minimum entry grades: 36 (HL 6,5,5)
We accept a wide range of qualifications for entry on to our programmes, please see our entry requirements for more information.
For degrees combining more than one subject, the subject with the higher entry requirements determines the grades you need. You will also need to meet any further subject-specific entrance requirements as outlined on their pages.
International applicants
If English is not your first language, you will need an overall IELTS score of 7.0, with a minimum score of 6.5 in each component (Reading, Writing, Listening and Speaking), or an equivalent English language qualification.
How to applyDo I need to have studied this subject before?
No previous experience in this subject is required, but advanced school mathematics is an advantage and an ability to learn mathematical skills is essential.
General entry requirements
All applicants must have attained the following qualifications, or equivalent, in addition to the specific entry requirements for individual programmes.
SQA National 5 (B) in English and one SQA National 5 (B) from the following:
- Biology
- Chemistry
- Computing science
- Geography
- Lifeskills Mathematics (A grade)
- Mathematics
- Physics
- Psychology.
GCSE (5) in English language or English literature, and one GCSE (5) from the following:
- Biology
- Chemistry
- Computing Science
- Geography
- Mathematics
- Physics
- Psychology.
Other qualifications
More information on how to apply via other entry routes or accreditation of prior learning and experience can be found on the University’s entry requirements web page.
Reputation
The School of Economics and Finance is ranked first in Scotland by the Guardian University Guide 2021 and first in Scotland by the Complete University Guide 2021.
The University of St Andrews as a whole was voted top in the UK for student academic experience in The National Student Survey 2020 as 92.7% of St Andrews final-year students gave the University top marks for the quality of the learning and teaching experience.
The University has secured a TEF Gold Award for the quality of teaching and the undergraduate experience.
The quality of research publications produced by staff within the School was ranked in the top ten in the UK by the recent Research Excellence Framework 2014, with more than 80% of the research output rated as internationally excellent or world-leading.
Find out more about studying economics and finance at St Andrews.
Course information
The MA in Economics is a four-year course run by the School of Economics and Finance. The School also offers a BSc in Economics, which may be more suitable for students who wish to take economics alongside Science subjects. The economics element within both the BSc and MA degree programmes is exactly the same.
In the first two years, you will build a solid foundation in the general knowledge of economics. This includes an introduction to the principles of microeconomics and macroeconomics; an insight into quantitative techniques; and developing an understanding of economic relationships and the techniques necessary for their analysis.
At Honours level, students may select modules from a range of options on specific topics. These provide an analytical understanding of key aspects of finance, economics and government policy formation.
Specialist subject areas may include:
- behavioural economics
- corporate finance
- econometrics
- economic growth
- economic history
- economics of labour
- economics of migration
- experimental economics
- health and education
- macroeconomic policy
- policy impact evaluation
- portfolio management.
Alongside economics, in the first year of your studies, you will be required to study an additional two subjects. In the second year you will usually carry on at least one of these subjects, sometimes two. Find out more about how academic years are organised.
The University of St Andrews operates on a flexible modular degree system by which degrees are obtained through the accumulation of credits. More information on the structure of the modules system can be found on the flexible degree structure web page.
Find out more about studying economics and finance at St Andrews.
Modules
In the first two years of your degree (known as sub-honours) you will take the required modules in economics alongside modules in at least one other subject.
Typically, you will take a total of three modules per semester each year. Find out more about the modular Scottish degree system.
Students will take all of the following compulsory first-year modules:
- Macroeconomics: introduces the study of economics at the national and global level.
- Microeconomics: explores the basics of the market system and consumer and producer behaviour.
- Mathematics for Economists: covers calculus and algebra to provide indispensable mathematical tools for modern economists.
Students will take all of the following compulsory second-year modules:
- Intermediate Microeconomics: deepens the general understanding of microeconomics gained in first year.
- Intermediate Macroeconomics: explores theories of the determinants of long-run economic growth and theories of the causes of short-run “business-cycle” fluctuations.
- Statistics for Economists: introduces statistical methods and regression analysis.
If you decide to take Economics in your third and fourth years, you can choose from a wide variety of advanced options. Single-honours students are required to take at least one module in Econometrics.
Here is a sample of Honours modules which have been offered in previous years:
- Decision and Game Theory
- Economic Fluctuations
- Economics of Development
- Economics of the Environment
- European Macroeconomics
- Incentives and Contracts
- Inequality and Redistribution
- Innovation Economics
- International Trade
- Mathematical Economics
- Political Economy
- Public Economics.
In fourth year, students may also undertake a dissertation or research project on a topic of their choice. This independent project enables you to develop key research skills which are desired by both prospective employers and by graduate schools offering postgraduate degrees.
The compulsory modules listed here must be taken in order to graduate in this subject. However, most students at St Andrews take additional modules, either in their primary subject or from other subjects they are interested in. For Honours level, students choose from a range of Honours modules, some of which are listed above. A full list of all modules appropriate to the programme for the current academic year can be found in the programme requirements.
Teaching
Teaching format
First and second year modules generally involve a series of lectures (100 to 350 students), laboratories and small-group tutorials (15 to 20 students) designed to facilitate effective interaction.
At Honours level, modules are taught through lectures (10 to 140 students) and smaller group tutorials (10 to 20 students). Students typically attend six hours of lectures and an average of one to two tutorials or labs per week.
When not attending lectures, tutorials and laboratories, you will be expected to continue learning independently through self-study. Typically, this will involve:
- working on individual and group projects
- undertaking research in the library
- preparing coursework assignments and presentations
- preparing for examinations.
You will be taught by a research-led teaching team with expertise and knowledge of economics. Postgraduate research students who have undertaken teacher training may also contribute to the teaching of tutorials under the supervision of the module leader.
In addition to your studies in the School, optional academic support is available through practical study skills courses and workshops hosted within the University.
The University’s Student Services team can help students with additional needs resulting from disabilities, long term medical conditions or learning disabilities. More information can be found on the students with disabilities web page.
Assessment
Progress is monitored through tutorial assignments and assessment is by a combination of graded work and examinations. Almost all of the modules are assessed by at least 50% written exams with the balance of assessment made up by coursework.
Examinations are held at the end of each semester during a dedicated exam diet with revision time provided beforehand.
Coursework takes the form of essays, along with other kinds of assessed work including oral presentations and class tests.
The School aims to provide feedback on assessments and coursework within three weeks to help you improve on future assessments.
Undergraduates at the University of St Andrews must achieve at least 7.0 on the St Andrews 20-point grade scale to pass a module. To gain access to Honours-level modules, students must achieve the relevant requisites as specified in the policy on entry to Honours and in the relevant programme requirements. Please note that some Schools offer qualified entry to Honours, and this will be clearly specified in the programme requirements. To find out the classification equivalent of points, please see the common reporting scale.
Fees
Tuition fees for 2021 entry
| Home-funded | £1,820 |
|---|---|
| Rest of the UK | £9,250 |
| EU and overseas | £25,100 |
For overseas students, tuition fees will be fixed at this level for the duration of your programme.
More information on tuition fees can be found on the undergraduate fees and funding page.
Accommodation fees
Find out about accommodation fees for University accommodation.
Funding and scholarships
The University of St Andrews offers a number of scholarships and support packages to undergraduate students each year.
Joint Honours degrees
You can take Economics MA as part of a joint Honours degree alongside one of the following subjects:
In taking a joint degree, you are required to take core modules in all of your subjects. Find out more about joint degrees.
"With" degrees
You can take the Economics MA as part of a "with" Honours degree in which the majority of the course deals with the first named subject. St Andrews offers the following "with" degrees in Economics:
In taking a "with" degree, you are required to take core modules in all of your subjects. Find out more about joint degrees.
Your future
Careers
Graduates with a degree in economics have some highly sought-after skills and pursue careers in a wide variety of fields. A degree in economics will greatly enhance your analytic and decision-making abilities. You will significantly improve your quantitative abilities and greatly enhance other transferable skills highly valued by employers.
Popular career destinations among recent graduates include:
- economic consulting
- management consulting
- accountancy
- business intelligence analysis
- broadcasting and journalism
- risk management
- research analysis
- financial services analysis
- stockbroking.
The Careers Centre offers one-to-one advice to all students as well as a programme of events to assist students to build their employability skills.
Study abroad
Economics students may participate in the University-wide St Andrews Abroad programme. You may also have the opportunity to participate in the School Abroad exchange programme. For information about study abroad options, please see the study abroad site.
Student life
From the outset, the University of St Andrews offers an array of events and opportunities which result in a truly unique student experience. Students participate in a range of traditions, notably, the red academic gown and the academic family, where older students adopt first year students as ‘children’ and help guide them in a system of mentoring. These traditions and the choice of over 150 sports clubs and student societies to choose from ensures a community feel amongst students from first year onwards.
Students of economics may be interested in joining the St Andrews Economic Society. This active society is run by students and holds regular career events, essay competitions and social occasions. The society also publishes The St Andrews Economist, a magazine covering current affairs, academic theory, economic policies, and trends.
The School of Economics and Finance is located in Castlecliffe on The Scores in a beautiful Edwardian mansion overlooking St Andrews Bay, next to the ruins of St Andrews Castle on the Fife coast.
The town of St Andrews itself has lots to offer. As University buildings are located throughout the town, walking around you encounter ancient and modern buildings, parks and beaches, providing a rich, beautiful backdrop to learning. Find out more about the town of St Andrews.
Find out more about student life at the University of St Andrews.
"I was attracted to the combination of quantitative and qualitative elements in the subject –microeconomics has a strong mathematical foundation, while macroeconomics and economic history involve essay assignments. I appreciated the flexibility in sub-honours as I studied Economics and Psychology for my first two years and additionally took modules in Management and Comparative Literature in my first year.”
Valeria (St Petersburg, Russia)
Contact
School of Economics and Finance
University of St Andrews
Castlecliffe
The Scores
St Andrews
KY16 9AR
Phone: +44 (0)1334 46 2439
Email: econ@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.
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