Economics, M.Sc.

  • Application Deadline
  • 12 months
  • English (book IELTS)
University rank #197 (WUR) ,
The Department of Economics at Royal Holloway University of London is unique in being a young department in an established and prestigious College of the University of London. Since 1995, we have quickly developed a strong reputation as a centre of economic research and teaching.


The aim of this traditional taught Masters is to provide you with rigorous training in the analysis of economics, including quantitative techniques and research methods. This is provided by a core of course units in Microeconomics, Macroeconomics and Econometrics, taught by a top-ranking Department of Economics with expertise in a wide set of areas.

With an intake of 30-35 places you will benefit from a strong sense of group-identity and enjoy close contact with the academic staff of the department. The course director serves as your personal advisor up until the spring and you will then be assigned a personal dissertation supervisor.

The Department of Economics at Royal Holloway University of London is unique in being a young department in an established and prestigious College of the University of London. Since 1995, we have quickly developed a strong reputation as a centre of economic research and teaching.

The MSc Economics is an excellent preparation for further academic studies or for careers in the public, private and financial services sectors.
Why choose this course?
  • The course offers an excellent opportunity to get a strong grounding in core areas of Economics and to specialise your knowledge further through the optional courses on offer.
  • You will be taught by academics who produce world leading research. In the 2008 Research Assessment Exercise we were ranked among the top 10 Economics Departments in the UK
  • Students attend a two week pre-sessional quantitative methods course to ensure they are in a good position to start this challenging Masters course.
  • Our graduates are highly employable: 90% of graduates from the Department of Economics were in full time employment or further study within six months of graduation.
  • The Department has expertise in a wide set of areas, including Labour Economics, Experimental Economics, and Public Economics, and the topics taught on our Masters courses reflect these areas of excellence.
  • The Department of Economics at Royal Holloway is unique in being a young department, created in 1995, in an established and prestigious college of the University of London.
  • We are one of the few Departments in the UK to have an in-house economics experiments laboratory, used by staff and research students.
Employability & career opportunities

90% of graduates from Royal Holloway, University of London’s Department of Economics were in full time employment or further study within six months of graduation.

Our graduates are highly employable and, in recent years, have entered many different economics-related areas, including working in the Public Sector (Government Economics Service), journalism, business analysis. careers as Economists, Journalists and Business Analysts. Our graduates are currently working for firms such as Accenture, TNS, Bloomberg, Citigroup, Royal Bank of Scotland, Credit Suisse, Pricewaterhouse Cooper and Baker and Mackenzie. This course also equips you with the subject knowledge and a solid foundation for continued PhD studies.

Your careers ambitions are supported by our Careers Officer, Dr.Melanie Luhrmann as well as the College Careers Service, located right next door to the economics department. They offer application and interview coaching, career strategy discussions, and the opportunity to network with major employers on campus. Our careers service is provided by the Careers Group, the main provider of graduate recruitment services in London. Thus, you will have additional access to a wealth of presentations and networking opportunities.

Programme Structure

You will study six core course units, including a mathematics refresher course and a dissertation, as well as choosing two elective course units.

Core course units
  • Pre-sessional mathematics refresher course - All students attend the compulsory pre-sessional mathematics refresher course, which runs for 2 weeks in September, before the start of term.
  • Microeconomics - This is a graduate level introduction to microeconomic theory. You will cover the theory of the firm and consumer behaviour, partial and general equilibrium analysis, monopoly and oligopoly, welfare economics, static and dynamic games, games with incomplete information, Bayesian decision theory, and common knowledge.
  • Macroeconomics - You will be provided with an introduction to modern intertemporal macroeconomics focusing on economic growth. You will also develop and apply tools for dynamic economic analysis that are useful in all fields of economics.
  • Econometrics - The first half of the unit focuses on Maximum Likelihood (ML) estimation and the analysis of models with discrete and limited dependent variables, which arise frequently in economic analysis. The second half of the unit concerns the analysis of time series data including ARMA models, the analysis of nonstationary time series data and cointegration analysis, simultaneous equations models and vector autoregressive models.
  • Research Methods - While conducting research sounds like an easy task, it is paved with difficulties. This course aims to help you avoid these traps and to developing good research skills so that you can conduct an efficient piece of research at the end of your degree.
  • Dissertation - The dissertation gives you the opportunity to analyse an economics issue in depth. You will be assigned a dissertation supervisor and by the end of March, submit a preliminary dissertation report that contains a clear statement of the problem under consideration, the structure of the project and the research methods that are going to be applied. The dissertation is then written over the summer.
Elective course units
  • Financial Economics - You will be provided with the tools for analysing financial markets and the banking system. The unit covers issues arising from the banking system and credit markets and the implications of multiple equilibria, asymmetric information and market failure in these markets.
  • Industrial Economics - You will examine the behaviour of firms depending on industry characteristics. Starting from a brief analysis of monopoly and perfect competition this course moves on to an analysis of the interaction of firms in oligopolistic industries. Using standard game theoretic analysis of modern industrial economics, relevant industry strategies such as collusion, price discrimination, vertical control and entry and exit will be analysed.
  • Political Economy - This course will provide an advanced treatment of the tools used in political economy to tackle some major questions faced by public sector economists. It will in particular focus on the modelling of voters and politicians behaviours to address the role played by incentives and constraints faced by politicians when choosing public policies. The effect of different forms of institutional arrangements on public decision making and electoral accountability will be analysed from both a theoretical and empirical perspective.
  • Public Economics - Public Economics is concerned with the study of the effects of government policy and the design of optimal policies. You will assess the implications of basic welfare economics in public policy and a number of recent research areas in public economics are then discussed including income taxation, tax evasion, externalities and social security.
  • Evaluation Economics - The aims of the unit are to give you broad advanced-level training in the economics of policy evaluation and the facility to apply economic models to evaluate actual policy interventions. It will provide you with the facility to apply quantitative techniques and qualitative methods and you will evaluate actual policy interventions in particular fields and countries.
On completion of the course graduates will have
  • advanced training in the principles of economics and their application appropriate to postgraduate level
  • developed the ability to apply the advanced knowledge, research methods and skills they have acquired to the solution of theoretical and/or applied problems in economic policy
  • the ability to evaluate critically current research and advanced scholarship in the discipline
  • analytical skills and an ability to develop simplifying frameworks for studying the real world and to be able to appreciate what would be an appropriate level of abstraction for a range of economic issues
  • a range of transferable skills that will be of value in employment and self-employment
  • the knowledge and skills base from which they can proceed to research in economics and related areas.

Detailed Programme Facts

  • Programme intensity Full-time
    • Full-time duration 12 months
  • Languages
    • English
  • Delivery mode
    On Campus

English Language Requirements

You need the following IELTS score:

  • Minimum required score:


    The IELTS – or the International English Language Test System – tests your English-language abilities (writing, listening, speaking, and reading) on a scale of 1.00–9.00. The minimum IELTS score requirement refers to which Overall Band Score you received, which is your combined average score. Read more about IELTS.

    Book IELTS

    StudyPortals Tip: The UK government has confirmed new English-language testing requirements for visa and immigration purposes. Learn more

Academic Requirements

You need the following GPA score:

Required score: Upper Second Class

Applicants for graduate programs must have the equivalent of a bachelor’s degree with a minimum GPA equivalent to Upper Second Class on the UK Honour scale. Admitted applicants typically have an undergraduate GPA of or better on the UK Honour scale. No exam grade should be lower than 4.5 (European grade scale) or D (American grade scale).

Your GPA (Grade Point Average) is calculated using the grades that you received in each course, and is determined by the points assigned to each grade (e.g. for the US grading scale from A-F).

Entry criteria

UK Upper Second Class Honours degree (2.1) or overseas equivalent in Economics, Mathematics, Physics, Engineering or a similarly mathematical subject. Applicants with a good Second Class Honours degree (2.2), or overseas equivalent, will be considered on an individual basis

Relevant professional qualifications and relevant experience in an associated area.

English language requirements

IELTS 6.5 overall with 6.5 in writing and a minimum of 6.0 in all other subscores. For equivalencies, please see here |

StudyPortals Tip: Students should consider taking one of the Pre-Master's below. these courses will be necessary if:

  • You are considered ineligible for admission
  • You need to improve your academic, study, research or language skills
Search all Pre-Masters

Tuition Fee

  • International Applies to you

    15800 EUR/year
    Tuition Fee
    Based on the original amount of 15800 EUR per year and a duration of 12 months.
  • EU/EEA Applies to you

    8100 EUR/year
    Tuition Fee
    Based on the original amount of 8100 EUR per year and a duration of 12 months.
We've labeled the tuition fee that applies to you because we think you are from and prefer over other currencies.

Living costs for London

  • 1000 - 2600 GBP/month
    Living Costs

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.


Fees & funding for postgraduate students
Funding postgraduate study needs careful planning and we advise you check the various sources of finance available at an early stage in your application. All postgraduate taught courses have an annual fee and you’ll also need to take into account your living costs.
Postgraduate student loans
The Department for Business, Innovation and Skills has now confirmed details of student loans of up to £10,000 for postgraduate study. Masters degrees in all disciplines and subject areas will be covered by the new postgraduate loans scheme, which will be administered by Student Finance England. Loans will be available in plenty of time for the 2016/17 academic year.
Bursaries and scholarships

We also directly support 100 postgraduate students through a variety of scholarships, bursaries and assistantships. Our sources of funding page gives you a full list and eligibility criteria for these awards, which vary in the level of funding provided. Some cover both tuition fees and living expenses in full: others make a contribution towards a portion of the cost of study. In some cases, a combination of funding is possible, for example if a Departmental Assistantship is held with a Research Scholarship.

As well as our awards, a wide range of funding is open to postgraduate students from different sources. Competition for these awards is intense and there are often strict deadlines. Our Directors of Graduate Studies in each department will offer guidance on how to make an application.

We also provide financial advice and support to ensure your time here is as stress-free as possible when it comes to money.

StudyPortals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

The Global Study Awards: get funded with up to £10,000 to study abroad

Together with the ISIC Association and British Council IELTS, StudyPortals offers you the chance to receive up to £10000 to expand your horizon and study abroad. We want to ultimately encourage you to study abroad in order to experience and explore new countries, cultures and languages.