MSc Applied Economics

The increased use of economic analysis in government, business and other institutions over the past 20 years has led to greater demand for economists. However, the number of economics graduates from UK universities has remained static, resulting in higher salaries for those looking to develop a career as a professional economist. The MSc Applied Economics from The Westminster Business School offers you a stimulating environment in which to develop your knowledge, understanding and skills to become a professional economist.

The course will give you a systematic understanding and knowledge of applied economics, a critical awareness of the latest developments in professional practice, and greater understanding of the analytical and technical skills needed to work within the relevant decision-making and policy-making environments. It will also enhance your capacity for originality in applying relevant economic principles, for critical evaluation in the application of economics, and for communicating complex issues to wide audiences. You will develop awareness of significant sources of economic and financial data, and greater capability for self-awareness and group working.

Length of course: 1 year full-time or 2 years part-time

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The following general requirements apply to the MSc Applied Economics:

Entrants will normally have either a minimum Upper Second Class Honours first degree (or equivalent) which would be single Honours or a major in Economics, or a quantitative discipline with a minor in Economics, or a more general first degree (minimum Upper Second Class Honours or equivalent) with significant study of economics and quantitative methods. Exceptionally, non-graduates with evidence of extensive work experience in the economics profession may also be considered.  The University operates a system of awarding credit for accredited prior learning either through formal study (APL) or experiential (APEL). Applications can be considered on an individual basis following acceptance on to the course. If English is not your first language, you will need an IELTS score of 6.5, with a minimum score of 6 in each element.

During the MSc Applied Economics course, you will achieve a systematic understanding and knowledge of key concepts in economics, including opportunity cost, incentives, equilibrium and disequilibrium, strategic interaction and marginal cost/benefit. In this time, you will develop and demonstrate a critical awareness of current problems and/or new insights, informed by the economics discipline and areas of professional practice.

Core modules:

• Application of Economics
• Applied Microeconomics
• Data Analysis
• International Macroeconomics
• Research Methods
• Project

Option modules, choose two from:

• Behavioural Economics
• Labour Market Economics
• Policy and Programme Evaluation

Today’s organisations need graduates with degree skills and the ability to apply them in the workplace. By embedding professional skills within the course, developing links to the Government Economic Service and Society of Business Economists, and providing practice and training for students in interview, presentation and other communication scenarios, this Economics Masters focuses on developing employable graduates.

Full-time fees: UK students £6,960; overseas: £10,400
Part-time fees: UK students £3,488 (yearly fee); overseas students £5,693 (yearly fee)