Overview
- Degree awarded
- Master of Science
- Duration
- 1 year
- Entry requirements
-
A UK 2:1 honours degree (or overseas equivalent) in economics or another quantitative subject, such as mathematics, physics or computer science. This training must include a significant number of mathematical, econometrics and/or statistical courses, including advanced options in which top-level marks have been achieved, and a solid background in a statistical programming language such as R, Python, Julia or MATLAB.
For applicants with a degree in subjects other than economics, a significant exposure to economics courses is required.
When assessing your academic record, we consider the grades you have achieved and the standing of the institution where you studied your qualification.
- How to apply
- Apply online
Course options
| Full-time | Part-time | Full-time distance learning | Part-time distance learning | |
|---|---|---|---|---|
| MSc | Y | N | N | N |
Course overview
- Use data science methods to analyse real world economic issues by thinking through the economic theories and applying the right empirical methods.
- Take advantage of optional modules to specialise in a variety of areas of economics and econometrics.
- Obtain skills in a field which is seeing increasing demand from the world’s top employers. Prepare for a career as an economic data analyst in government, central banks, the private sector or academia.
- Join one of Europe's leading centres for economics. We are internationally renowned for our postgraduate training, which puts at its core our state-of-the-art research.
Open days
The University hosts many opportunities for you to find out more about your degree, meet academics, tutors and admissions staff, ask questions, and explore everything that a postgraduate degree at Manchester has to offer.
You can attend an online information session, meet us at a study fair in the UK or meet us at one of our overseas events. See our meet us page for more information. You can also look at our Virtual Open Day content to help you learn more about the University.
If you’re interested in visiting our campus in-person or setting up a one-on-one with an advisor or member of academic staff, please contact us on pgt-economics@manchester.ac.uk .
Fees
For entry in the academic year beginning September 2024, the tuition fees are as follows:
-
MSc (full-time)
UK students (per annum): £14,500
International, including EU, students (per annum): £31,000
Further information for EU students can be found on our dedicated EU page.
Policy on additional costs
All students should normally be able to complete their programme of study without incurring additional study costs over and above the tuition fee for that programme. Any unavoidable additional compulsory costs totalling more than 1% of the annual home undergraduate fee per annum, regardless of whether the programme in question is undergraduate or postgraduate taught, will be made clear to you at the point of application. Further information can be found in the University's Policy on additional costs incurred by students on undergraduate and postgraduate taught programmes (PDF document, 91KB).
Scholarships/sponsorships
- Home students may be eligible for a postgraduate loan from the government to cover a significant proportion of their tuition fees.
- International students may be eligible for a number of international scholarships, such as the Manchester Humanities International Excellence Scholarship , the Global Futures Scholarship , or the GREAT Scholarship .
- Both home and international students who have studied at Manchester for their undergraduate degree and achieved a First may be eligible for the Manchester Alumni Scholarship Scheme of a reduction of £3,000 in tuition fees.
Contact details
- School/Faculty
- School of Social Sciences
- Telephone
- School/Faculty
-
See: School Subjects
Courses in related subject areas
Use the links below to view lists of courses in related subject areas.
Entry requirements
Academic entry qualification overview
A UK 2:1 honours degree (or overseas equivalent) in economics or another quantitative subject, such as mathematics, physics or computer science. This training must include a significant number of mathematical, econometrics and/or statistical courses, including advanced options in which top-level marks have been achieved, and a solid background in a statistical programming language such as R, Python, Julia or MATLAB.
For applicants with a degree in subjects other than economics, a significant exposure to economics courses is required.
When assessing your academic record, we consider the grades you have achieved and the standing of the institution where you studied your qualification.
English language
Applicants whose first language is not English should meet the following language requirements:
- IELTS Academic test score of 7 overall, including 7 in writing with no further component score below 6.5
- TOEFL IBT 100 with 25 in writing and no further score below 22 in each section. TOEFL code for Manchester is 0757
- Pearson Test of English (PTE) score of 76 overall, with 76 in writing and no further score below 70
Pre-Sessional English Courses
We will consider applicants who do not meet these scores but you will be required to complete a pre-sessional English language course at the University of Manchester prior to the start of the course.
To be considered for a pre-sessional English language course for this programme we require the following minimum IELTS (Academic) scores:
- 6 Week Pre-Sessional Course : IELTS 6.5 overall with 6.5 in writing and no more than one sub-skill of 6.0.
- 10 Week Pre-sessional Course : IELTS 6.0 overall with 6.0 or above in each sub-skill
If you have not yet completed your current academic study and are interested in studying a pre-sessional course, you must hold an IELTS for UKVI (Academic) test certificate to ensure that you are eligible for a separate visa for the English language course.
English language test validity
Some English Language test results are only valid for two years. Your English Language test report must be valid on the start date of the course.
Applicants from Majority English-speaking countries
If you are a national of a majority English-speaking country (or have studied for a full bachelor's degree or higher from one of these countries) you may be exempt from submitting further evidence of English language proficiency.
Other international entry requirements
Application and selection
How to apply
Advice to applicants
As there is a high demand for our courses we operate a staged admissions process with selection deadlines throughout the year. Due to the competition for places and high quality of applications that we receive, we give preference to students from high ranking institutions and with grades above our minimum entry requirements.
Please ensure you submit all supporting documentation with your application before the application deadline to avoid a delay in processing.
Applications for 2024 entry:
Stage 1: Application received by 8th December 2023 ; Application update by 22nd February 2024
Stage 2: Application received by 3rd March 2024 ; Application update by 25th April 2024
Stage 3: Application received by 5th May 2024 ; Application update by 8th June 2024
Stage 4: Application received by 1st July 2024 ; Application update by 25th July 2024
Whilst we aim to give you a decision on your application by the deadline date, in some instances due to the competition for places and the volume of applications received, it may be necessary to roll your application forward to the next deadline date.
Applications received after our final selection deadline will be considered at our discretion if places are still available.
Please note: All places are subject to availability and if you apply at one of the later stages, some courses may already be reaching capacity or be closed to further applications. We, therefore, recommend that you apply early in the cycle to avoid disappointment.
Re-applications
If you applied in the previous year and your application was not successful you may apply again. Your application will be considered against the standard course entry criteria for that year of entry. In your new application you should demonstrate how your application has improved. We may draw upon all information from your previous applications or any previous registrations at the University as a student when assessing your suitability for your chosen course.
Course details
Course description
With the emergence of data science and its successful application in many fields, there is growing interest in both the public and private sectors to explore what new insights these methods can offer on issues in economics, econometrics and finance. For governments and central banks, there is particular interest in how data science techniques can inform the formulation and evaluation of economic policy.
This programme offers a comprehensive training in the use of data science methods to analyse economic issues, covering theories, methods and applications to real world problems. The programme is designed to prepare students for employment as economic data analysts in government, central banks or the private sector.
The University of Manchester is a leading centre for economics and research-led teaching. Many famous names from the world of economics have worked here, including three Nobel Prize winners. Graduate students from across the globe come here to study economics, attracted by our first-class postgraduate training and supervision in the core and specialist areas of economics.
Aims
- Examine key theories regarding the economic behaviour at aggregate, sectoral and individual level.
- Examine the mathematical theories behind the statistical models used in econometric and data science analysis.
- Explore the key issues in the processing of information for the creation of data sets for statistical analysis.
- Support you in the development of the computer-programming skills you need to implement data scientific analysis.
- Support you to develop the skills needed to implement data scientific methods in order to contribute to the formulation and evaluation of economic policy.
- Prepare you for post-graduation employment or PhD research, through the development of digital, group-work, data-handling, presentational and writing skills.
- Analyse economic and/or policy problems using in-depth knowledge of economic theory.
- Critically assess and engage with empirical economic research.
- Identify whether particular economic problems can be investigated empirically and if so, what strategy is to be used.
- Explain features, assumptions and estimation methods used by econometric and data science methods.
- Design, develop and conduct research on empirical economic issues using statistical and data science techniques and software.
- Analyse real life data to understand and describe empirical issues across a range of disciplines and real-world settings.
Special features
Lead the way
Master an emerging field which is seeing increasing demand from the world’s top employers. Get hands-on training to prepare for a career as an economic data analyst in government, central banks, the private sector or academia.
Specialise
Take advantage of two optional modules to specialise in a variety of areas of economics and econometrics.
Guest speakers
The course will feature special guest speakers from leading organisations in economics and data science, such as the Office for National Statistics, HM Treasury, the Bank of England and private sector companies.
Teaching and learning
- 4 x 15 credit modules in Semester 1
- 3 x 15 credit modules in Semester 2
- 1 x 30 credit module across both semesters
- 1 x 45 credit research component
Of the seven modules undertaken, five will be core modules (compulsory for all students) and two will be optional (compulsory, but students may choose from a list of available modules in which to specialise).
You must first check the schedule of the compulsory course units and then select your optional units to suit your requirements.
We combine traditional lecture-based teaching with tutorials, seminars and workshop sessions. Students will be expected to work both individually and on group projects.
Updated timetable information will be available from mid-August 2024 and you will have the opportunity to discuss your unit choices during induction week with your Course Director.
Part-time students
Part-time students complete the full-time course over two years. There are no evening or weekend course units available on the part-time course.
Quantitative methods preparation for the MSc:
- Please visit our Introduction to Quantitative Methods in Economics website for information about the minimum level of knowledge of mathematics and statistics that you should possess from your current or previous training.
- The website also provides details and content of our Introduction course on Quantitative Methods in Economics which builds on the knowledge gained in (1) and is designed to equip you with further technical skills that you will require before starting the MSc.
- You are strongly advised to attend this course which is offered free of charge. The course will run during induction week and we recommend that you spend some time between July and September studying and familiarising yourself with the course material on the website, especially if you might not be able to attend the course.
Coursework and assessment
The Master of Economics is awarded by the University on the recommendation of the Board of the School of Social Sciences, Graduate Office. The degree will be awarded with a pass, merit or distinction.
Students who fail a master's degree may be awarded a Postgraduate Diploma if they satisfy the appropriate conventions. Once a diploma has been awarded in these circumstances, a student cannot re-enrol on a master's degree.
Course unit details
Core modules
Subject to approval, core modules may include:
- Microeconomic Theory (15 credits)
- Macroeconomic Theory (15 credits)
- Econometric Methods (15 credits)
- Data Science & Machine Learning 1 (15 credits)
- Data Science & Machine Learning 2 (15 credits)
- Skills for Data Scientists (30 credits)
Optional modules
Subject to approval, optional 15-credit modules may include:
- Financial Econometrics
- Applied Macroeconometrics
- Microeconometrics
- Healthcare Economics
- Economics of Environmental Policy
- Labour Economics
Additional options outside of Economics may be explored as the programme progresses.
Course unit list
The course unit details given below are subject to change, and are the latest example of the curriculum available on this course of study.
| Title | Code | Credit rating | Mandatory/optional |
|---|---|---|---|
| Microeconomic Theory | ECON60101 | 15 | Mandatory |
| Macroeconomic Theory | ECON60111 | 15 | Mandatory |
| Introduction to Quantitative Methods in Economics | ECON60901 | 0 | Mandatory |
| Econometric Methods | ECON61001 | 15 | Mandatory |
| Data Science and Machine Learning 1 | ECON61351 | 15 | Mandatory |
| Programming and other Skills for Data Scientists | ECON62020 | 30 | Mandatory |
| Microeconometrics | ECON60052 | 15 | Optional |
| Financial Econometrics | ECON60332 | 15 | Optional |
| Healthcare Economics | ECON60432 | 15 | Optional |
| Applied Macroeconometrics | ECON60522 | 15 | Optional |
| Displaying 10 of 12 course units | |||
| Display all course units | |||
Scholarships and bursaries
- Home students may be eligible for a postgraduate loan from the government to cover a significant proportion of their tuition fees.
- International students may be eligible for a number of international scholarships, such as the Manchester Humanities International Excellence Scholarship , the Global Futures Scholarship , or the GREAT Scholarship .
- Both home and international students who have studied at Manchester for their undergraduate degree and achieved a First may be eligible for the Manchester Alumni Scholarship Scheme of a reduction of £3,000 in tuition fees.
Disability support
Careers
Career opportunities
The growing awareness of the gains from analysing big data has led to increasing demand from employers for recruits with data science skills.
This programme is designed to prepare you for employment as an economic data analyst in government, central banks or the private sector.
The training also provides the foundation for a research degree in quantitative analysis in economics or interdisciplinary topics involving economics.
Aside from the hard skills in economics and data science gained from your degree, you will also gain highly-valued employability skills such as digital literacy, group work, data handling, communication, presentation and writing skills.
Students on similar degrees (e.g. MA Economics, MSc Economics, MSc Financial Economics, MSc Data Science) go on to work at leading organisations world-wide, in sectors such as:
- Banking / Finance
- Local / National Government
- Consulting
- Accountancy
- Academia
- Research and Development
- The World Bank
- HM Treasury
- The Ministry of Justice
- The NHS
- J.P. Morgan
- Deloitte
- PwC
- Bank of China
- African Union