Masters In Economics In UK: Universities & Course Details

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Summary

  • Here is a blog on the Top Universities in the UK ideal for international students looking to pursue a Master’s Degree in Economics.
  • The average tuition fee in most of these universities is around 30,000 CAD.
  • All the listed colleges are ranked by different local and international bodies such as QS, Times University Guide, and Complete University Guide based on their academics, diversity, and campus life.

The United Kingdom has a long heritage of churning out world leaders and quality professionals in various disciplines. Economics is one such discipline. John Maynard Keynes, John Stuart Mill, Thomas Robert Malthus, and David Ricardo are some of the popular economists who studied in England and other regions of the UK. The blog highlights the top universities that offer a Masters In Economics UK.

If you are an international student planning to do a Master’s in Economics, then the UK should definitely be your first choice for the following reasons —

  • The country’s institutes provide a high standard of education.
  • It is home to some of the top institutes in the world that consistently ranks at the top in the economics field.
  • There are short and tailor-made economics courses for all categories of students.
  • International students can access job opportunities after graduation.

Top Universities to Study Masters In Economics UK

Here are the best UK universities where you can pursue a Master’s course in Economics, along with their entry requirements, fees, and application process.

Imperial College of London

Imperial College of London is ranked #3 in Europe and #7 in the world by QS Global World ranking in 2022. The school offers an MSc in Economics and Strategy for Business that lasts for a year. This course helps students get real-life experience through advanced data analysis, simulations, and actual consultancy projects.

Eligibility Criteria

  • A bachelor’s degree from a recognised institute with first-class honours in disciplines like economics, finance and business.
  • A minimum score of 7.5 in IELTS with 6.5 in all sections, or a minimum TOEFL score of 100 with a minimum of 22 marks in all the sections.
  • GMAT is not a requirement, but submitting a score of 650 or above will give you an additional advantage over others.

Tuition Fee

Around 31,800 GBP for a year

Admission Process

The application process for the upcoming intake starts in September 2022. You can apply online for this university’s Masters In Economics UK by uploading documents like transcripts, a personal statement about your interest to join the course and college, a resume, and references. The entire application process takes around 6 to 8 weeks. 

University of Manchester

This university is known for its various Master’s degrees, including economics. The university has produced three Nobel Prize winners in Economics. The university was ranked #23 in 2022, according to Times University Guide. The Masters in Economics program is available in full-time (one year) and part-time (two years) models. The program offers rigorous training for students in various modern economics techniques.

Eligibility Criteria

  • A professional degree in finance, mathematics, economics, or related subjects. Your grades and institution will also be taken into account for admission.
  • A minimum score of 7 in IELTS or a minimum score of 100 in TOEFL to satisfy English proficiency requirements.

Tuition Fee

Around 25,500GBP

Admission Process

You can find the application form online on the university’s website. The next window for submitting applications opens on 29th April 2022 and will last till 19th August 2022. You must upload a degree certificate, transcripts, English test scores, and two references.

London School of Economics & Political Science

London School of Economics and Political Science offers not one but several economics-based programs. The university is ranked #6 by QS WUR ranking for the Economics and Econometrics subject in 2021. The MSc Economics program from this school equips students with tools and knowledge to help them become professional economists and work in central banks, government offices, private sector firms, and international financial markets. The course is available in two formats, 1 year and 2 years.

Eligibility Criteria

  • A first-class honour degree in an undergraduate program in economics or mathematics.
  • GRE/GMAT score is mandatory.
  • A minimum score of 7.0 in IELTS or 100 in TOEFL is necessary.

Tuition Fee

Around 57,960GBP and 32,208GBP for MSc Economics (1 Year)

Admission Process

International applicants can apply online through the university portal. The application for this Master in Economics UK programme is on a rolling basis, so you can find it open most of the time. The applications close when the programme becomes full. Students should submit their resumes, two academic references, proof of academic achievements, and a Statement of Purpose.

University of Bristol

Though the University of Bristol offers various Master’s Programs, the MSc in economics is the most sought after. The university is ranked #62 by QS World University Rankings in 2022. It offers a specialized MSc Economics course that will help you become a specialist in data science and economics, political economy, financial economics, macroeconomics, economic theory, and economic policy.

Eligibility Criteria

  • An honours degree in economics, physics, engineering, social sciences, mathematics, or any other relevant subject.
  • Candidates should be able to demonstrate good knowledge of mathematics and economics.
  • A minimum score of 6.5 in IELTS or a minimum score of 84 in TOEFL.
  • If the student is from CBSE, then a 75% score in English in 12th is required. If they are from the State Board, an 85% score in English is required.

Tuition Fee

Around 21,600GBP for the entire duration of the programme

Admission Process

The application process starts on 29th July 2022. Aspirants can apply for the course on the college’s website. You need to upload a resume, academic transcripts, statement of purpose, references, and scores for English language requirements.

University of Warwick

The University of Warwick is ranked #25 in the QS World university ranking for Economics and Econometrics in 2021. This university offers an MSc Economics degree, a one-year full-time programme. After course completion, the students will become specialists in core areas of economics like financial economics, economics dissertation, macroeconomics and microeconomics.

Eligibility Criteria

  • Completed an undergraduate degree with a specialisation in economics.
  • Should have studied mathematics at the undergraduate level.
  • A minimum overall score of 6.5 in IELTS.

Tuition Fee

Around 27,930GBP

Admission Process

The application process is a rolling type and closes when the program is full. Candidates must upload their resume, personal statement, academic transcripts, and English level certificate while submitting the application.

Cardiff University

The MSc Economics at Cardiff University is focused on nurturing new-age economic professionals by equipping them with the required techniques and tools to meet global demands. The university is ranked #31 by the Complete University Guide. The department of economics at this university guides students through its leading research centre.

Eligibility Criteria

  • An undergraduate degree with a specialisation in economics.
  • A minimum overall score of 7.0 in IELTS and a minimum score of 100 in TOEFL

Tuition Fee

Around 21,950GBP

Admission Process

Interested applicants can apply for this course through the university website. They have to upload documents like financial proof, statement of purpose, resume, letter of recommendation, English scores, and references. The application can take 6 to 8 weeks for processing.

Queen’s University Belfast

This university was ranked #43 globally by the Time Higher Education Impacts in 2021. The students and alumni of this university’s MSc Economics programme are now employed in reputed organisations like Oxford Economics, Bank of Ireland, and the UK Civil Service. The course lasts one year.

Eligibility Criteria

  • An undergraduate degree with upper second class from a recognised institution. The degree must be in Finance, Mathematics, Economics or a relevant field.
  • A CGPA of at least 7.5/10
  • A minimum overall score of 6.5 in IELTS and a minimum overall score of 90 in TOEFL.
  • A minimum score of 70% in the CBSE English examination.

Tuition Fee

Around 18,200GBP 

Admission Process

Students must fill out the application form before August 2022 through the university’s online portal. The candidate must upload all the required documents like transcripts, English exam results, references, and a recommendation letter.

University of Sussex

The University of Sussex is ranked #41 by the Complete University Guide and is considered one of the top colleges for international students due to its vibrant student culture. The MSc Development economics course at this university is available in both full time and part-time models. The programme is accredited by AMBA and EQUIS.

Eligibility Criteria

  • Bachelor’s degree in economics with an overall score of 50-65% based on the institute.
  • A minimum overall score of 6.5 in IELTS and a minimum score of 80 in TOEFL.

Tuition Fee

Around 20,950GBP annually

Admission Process

The candidate must create an account in the university’s application portal and upload the required documents before August 2022. The documents to upload include a resume, transcripts, English exam module results, and a letter of recommendation.

Conclusion

That concludes the list of top universities to do a Masters In Economics UK. Now the million-dollar question is which university is right for you. More importantly, how do you get into these world-renowned universities? That’s where LeapScholar comes in.

We are a study abroad consultant, having helped thousands of students graduate from top economics colleges in countries like the UK, the USA and Canada. For further information, click here.

Frequently Asked Questions

1. What subjects are required in my undergraduate programme to do a Masters In Economics UK?

Ans. The requirement varies as per the university you choose. But the vast majority of colleges look for an undergraduate degree in Economics, Finance, and Mathematics. Some universities also expect you to have studied microeconomics and macroeconomics.

2. How can I pursue Master’s in Economics without studying mathematics?

Ans. Unlike a business school, almost all the economics schools in the UK require you to have studied (if not majored in) mathematics during the undergraduate programme. If you haven’t studied mathematics, you are recommended to do a short course in mathematics that the specific university accepts as a valid qualification.

3. Is there a demand for postgraduate students who have completed their Master’s program in Economics?

Ans. The requirement of economists globally is on the rise. According to a study, there will be a 13% growth in requirement for economists during 2020-2030. Hence, it is expected that job opportunities for economics graduates will be plentiful in the coming years, and employability will be quite high worldwide.

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An International Higher Ed professional with 7+ years of experience studying, working, and living across three geographies, currently on a mission to share his journey as an International Student.