Economics - MSc
Master your understanding of advanced economic skills and techniques on our MSc Economics to inform decision-making by all stakeholders including private businesses and policy-makers. Lead in the design and delivery of improved economic outcomes which address societal, policy-maker and private business needs whilst realising the quantitative skills required to create effective solutions to the economic challenges you will encounter in your career.
Month of entry
- September, January
Mode of study
- Full time, Part time
Fees for 2024/25 academic year
- UK - Full time £12,700 per year. Part time £7,000 per year.
International - £21,900 per year.
Duration of study
- 1 year full time or up to 20 months with placement pathway. 2 years part time or up to 24 to 36 months depending on pathway.
Why study Economics at Keele University?
Course summary
Our Economics MSc programme allows you to develop high-level knowledge and skills around the monetary rationale of economic interactions. It is designed to increase your confidence in applied economic theory and applied research techniques so you can advance as a talented economist who is capable of succeeding in a fluctuating global environment.
As an economist you will be presented with diverse economic quandaries and must respond to the different economic drivers and behaviours of everyone from individuals and households to international organisations and governments to achieve positive economic outcomes.
Employability is embedded into our programme with opportunities to engage with local employers through our consultancy and placement projects and develop relationships with professional bodies such as the Government Economic Service via guest lectures and research projects.
As a graduate of this programme your quantitative skills and scenario analysis will be coveted by government departments, devolved administrations, local authorities and private businesses. You will graduate as a highly employable individual who has developed skills including advanced econometric modelling and quantitative cost benefit analysis. Plus, these skills are further enriched through the programme's optional modules and the choice of dissertation, consultancy and placement project modules which deliver high quality employability skills.
What you’ll learn
Research-led teaching informs our innovative programme which is designed to fulfil your academic needs and support your future employability. You will extend your understanding of econometric theory and practice so you can confidently apply this to the analysis of empirical questions. This will consist of studying areas such as basic regression theory, panel data, limited dependent variable models and time series methods, as well as using STATA statistical software to analyse real-world datasets.
Established and contemporary microeconomic and macroeconomic theory is studied through a blend of analytics and intuitive reasoning with a strong emphasis on policy application. Microeconomics concentrates on advanced decision making by individuals and firms, the role of information and regulation. Macroeconomics considers the role of of key institutions such as governments and central banks, technological innovation and automation/AI, monetary economics, supply-side economics and adjustment to international shocks.
How will you scope out a research problem and design an appropriate approach for a solution? How do you conduct research? You will develop essential research techniques on this programme so you can confidently undertake either your dissertation, company project or work-based placement opportunity.
How can economic tools be used to address the most pressing environmental, climate and sustainability challenges of our time? Learn to apply economic approaches and tools, grounded on sound theory and concepts. You will use factual and empirical evidence, to solve real world problems through case studies related to themes such as environmental pollution, food and ecosystem services, recycling, energy production and consumption or reduction of carbon footprints.
Public sector economics and policy is examined in-depth to develop a comprehensive understanding of the key concepts and established theory in this context. Again, our approach is both analytical and intuitive with specific attention concentrating on policy and real-world applications. We focus on taxation, analyse government expenditure in areas such as defence and education, and assess policy tools such as cost benefit analysis and the mechanisms of social choice. You will evaluate current debates around the quality of goods and services provided by the private and public sector so you can really get to the heart of these issues.
A range of optional modules enable you to coordinate your studies with areas of interest from within economics or business. Current options include advancing your knowledge of modern portfolio management and investment theory and practice, enhancing your understanding of consumer behaviour and exploring leadership theory and concepts.
Other choices include exploring the multi-trillion derivative markets and how derivative instruments can be used to manage complex market positions, or you could choose to gain an in-depth insight into aspects of the fixed income market, exploring the latest methodologies and credit risks involved giving you the potential to sit for the Chartered Financial Analyst (CFA) professional exam.
You could also choose to enhance your creativity and personal development by learning to use creativity techniques, or examine how the financial sector is moving to a more sustainable future. You will also have the choice of undertaking an economics dissertation, consultancy project or a work placement.
Other course you may be interested in:
Next steps
Postgraduate Study with Keele Business School
Course structure
Modules
The module details given below are indicative, they are intended to provide you with an idea of the range of subjects that are taught to our current students. The modules that will be available for you to study in future years are prone to change as we regularly review our teaching to ensure that it is up-to-date and informed by the latest research and teaching methods, as well as student voice. The information presented is therefore not intended to be construed and/or relied upon as a definitive list of the modules available in any given year.
Economics MSc module structure
Semester 1
Compulsory modules
- ECO-40010 Microeconomic Theory and Policy
- ECO-40008 Macroeconomic Theory and Policy
- ECO-40014 Econometric Theory and Applications
Optional modules
- FIN-40041 Portfolio Management and Investment Analysis
- MAN-40120 Understanding Consumer Behaviour
- MAN-40056 Leadership
Semester 2
Compulsory modules
- FIN-4055 Research Methods
- ECO-40012 Environmental Economics and Sustainability
- ECO-40016 Public Economics and Public Policy
Optional modules:
Research dissertation
The research dissertation is a formal written academic project of between 10,000 and 15,000 words, making it ideal preparation for future academic research at MPhil or PhD level or for the report-writing and scrutiny expected of senior management professionals. Taking inspiration from your own interests, and with support throughout from a supervisor with relevant expertise, you’ll choose a topic to research in the field of economics.
Consultancy Project
During June to September, you will spend eight to 12 weeks undertaking a marketing research project on behalf of an organisation (chosen by Keele Business School). You’ll put into practice what you’ve learned, developing and applying your skills to solve a business problem, issue or focus on a specific project. As part of the eventual assessment, you’ll present your findings to the host organisation, exactly as you would do within the workplace.
Please note that participation in the Consultancy Project is only available after a comprehensive selection process. Please view our terms and conditions to find out more.
Placement pathway
In an increasingly competitive job market, employers are looking to recruit employees who have high-level knowledge, skills and workplace experience. With support from the Faculty Placement Officer, you will gain first-hand professional experience on a suitable, paid work placement for between eight weeks to 12 months. During your placement, you will be required to complete an extended project on behalf of the organisation. As part of the eventual assessment, you’ll present your findings to the host organisation, exactly as you would do within the workplace. Your placement can be based anywhere in the UK giving you the opportunity to work with local, national and international organisations.
Students who require a visa to study in the UK may be able to add in a work placement depending upon the programme. The ability to add a work placement is dependent upon the UK Immigration rules at the time of the request. It may be that for some programmes students will not have the option to request a placement period to be added to their programme before they arrive in the UK and would need to apply for a new visa. There is no guarantee that a placement will be provided and that students who have a visa are subject to a number of restrictions on the type of work, including placements they can undertake.
Next steps
PRME Champions
Keele Business School (KBS) has been selected for the 2024-2025 cohort of PRME Champions. Consisting of 47 businesses and management schools from around the world, The Principles for Responsible Management Education (PRME) is an initiative of the United Nations Global Compact, focused on raising the bar for sustainable business education. More information about PRME Champions can be found here.
Entry requirements
Next steps
Entry requirements
The following section details our typical entry requirements for this course for a range of UK and international qualifications. If you don't see your qualifications listed, please contact us to find out if we can accept your qualifications.
Typical offer
Please ensure that you read the full entry requirements by selecting your qualifications from the dropdown menu below. This will include any subject specific, GCSE/Level 2 Maths, and English language requirements you may need.
Please select your country from the drop-down list below for the full entry requirement information
UK
2:2 degree in a computer science, economics, engineering, maths, or science subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Bangladesh
60% in a 4-year degree or 3-year degree with a 2-year Master's in a computer science, economics, engineering, maths, or science subject from a public university
or
CGPA 2.8 in a 4-year degree or 3-year degree with a 2-year Master's in a computer science, economics, engineering, maths, or science subject from a private university
or
demonstrated relevant professional qualifications or experience
We don’t accept degrees from certain universities, please see our Bangladesh Country Page for more information
You will also need: an English language qualification (see below)
Canada
70% or C or a GPA of 2.5 in a degree (Ordinary or Honours) in a computer science, economics, engineering, maths or science subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
China
70% in a degree in a computer science, economics, engineering, maths, or science subject
or
65% in a degree in a computer science, economics, engineering, maths, or science subject from a '211' university
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Ghana
Second class degree in a computer science, economics, engineering, maths, or science subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
India
55% or CGPA 6/10 in a degree of at least 3 years in a computer science, economics, engineering, maths, or science subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Kenya
Second class degree in a computer science, economics, engineering, maths, or science subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Nepal
60% / 2.4 in a 4-year Bachelor's degree in a computer science, economics, engineering, maths, or science subject
or
65% / CGPA 2.8 in a 3-year Bachelor's degree in a computer science, economics, engineering, maths, or science subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Nigeria
Second class degree in a computer science, economics, engineering, maths, or science subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Pakistan
We accept a range of qualifications from Pakistan. Please visit our Pakistan Country Page for more information
or we will consider demonstrated relevant professional qualifications or experience
You will also need an English language qualification (see below)
South Africa
Second class division 2 / 60% in a Bachelor's degree with Honours in a computer science, economics, engineering, maths, or science subject
or
Second class division 1 / 70% in an Ordinary Bachelor's degree in a computer science, economics, engineering, maths, or science subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Sri Lanka
55% in a Special Bachelor's degree in a computer science, economics, engineering, maths, or science subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Uganda
Second class degree in a computer science, economics, engineering, maths, or science subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
Zimbabwe
Second class degree in a computer science, economics, engineering, maths, or science subject
or
demonstrated relevant professional qualifications or experience
You will also need: an English language qualification (see below)
English language requirements
All of our courses require an English language qualification or test. For most students, this requirement can be met with a 4 or C in GCSE English. Please see our English Language guidance pages for further details, including English language test information for international students. For those students who require an English language test, this course requires a test from Group B.
References
Normally, you will need to provide at least one academic reference to support your application unless you have been out of study longer than two years. If it has been more than two years since you last studied on a degree-level programme, you will normally need to provide an employment reference instead. For more information about Academic References, please see our Postgraduate how to apply web pages.
Personal Statement/Statement of Purpose
Please see our Postgraduate how to apply web pages for guidance on what to include in your personal statement.
Recognition of Prior Learning
The Recognition of Prior Learning (RPL) is a process which enables applicants to receive recognition and formal credit for learning acquired in the past through formal study or work and life experiences.
RPL can also be requested for admission onto the start of a programme in lieu of the admission requirements. For more information, see our Recognition of Prior Learning web pages.
General information
The entry grades outlined in this section indicate the typical offer which would be made to candidates, along with any subject specific requirements. This is for general information only. Keele University reserves the right to vary offer conditions depending upon a candidate's application.
Funding
Please note, if your course offers a January start date, the January 2024 start date falls in the 2023/24 academic year. Please see the 2023/24 academic year fees for the relevant fees for starting this course in January 2024.
Planning your funding
It's important to plan carefully for your funding before you start your course. Please be aware that not all postgraduate courses and not all students are eligible for the UK government postgraduate loans and, in some cases, you would be expected to source alternative funding yourself. If you need support researching your funding options, please contact our Financial Support Team.
For continuing students, fees will increase annually by RPIX, with a maximum cap of 5% per year.
Next steps
Your career
Studying on this programme will give you outstanding training in economics providing you with an exceptional combination of transferable skills and economic knowledge you can take forward into a successful career in the field. You’ll be well placed to pursue careers in public and private sectors finance, banking, local authorities and NGOs upon successful completion, securing roles such as actuarial consultants, data analysts, specialist data consultants, research consultants, statistical forecasting and evaluation (ONS), stock market analysts. You could also progress to undertake further postgraduate studies at PhD level.
Next steps
Teaching, learning and assessment
How is the programme taught?
Our teaching and learning strategy is wide-ranging and innovative, seeking to give you a rich learning environment that draws actively upon leading edge research, as well as current business practice. A key strength of our programme is our commitment to developing your critical thinking and practical skills, whether you are preparing for an academic or professional career. The carefully designed modules combined with research and other placement-related projects will give you valuable insight into the interface between theory and real-world economics practice.
- Traditional and interactive lectures featuring activities such as group discussions
- Small group tutorials and seminars where you will be expected to play a full part in discussions, group or individual presentations. Some activities may focus on using real work case studies to give you the opportunity to apply the knowledge you’re learning.
- Practical, computer-based lab classes where you will gain the hands-on skills associated with ‘soft’ data analysis and interpretation.
- Independent study to enable you to be well read from different sources including textbooks, academic journals, business case studies, official government publications and the media.
- Web-based learning through the University’s virtual learning environment the KLE which gives you access to a wide range of resources and research tools.
How is the programme assessed?
We use a wide variety of assessment methods on this programme which will reflect the breadth of knowledge and skills you will develop on this Economics MSc. These methods may include:
- Unseen and closed open book assessments in various formats designed to test your economics knowledge and how you apply this knowledge. Examinations may consist of essays, short answers and computer-based exams.
- Essays, including some based-on case study material will assess the quality and application of your knowledge.
- Portfolios will demonstrate your development of economic reasoning skills.
- Class tests in-situ and online.
- Short research papers will assess your understanding of different research methodologies.
- The dissertation will examine your capabilities to work independently, formulate and competently answer a specific research topic that will demonstrate your mastery of economics by applying it to a business context.
- If you undertake a Consultancy Project, you will be tested on your ability to work independently with business clients on a specific project of benefit to that organisation. You will undertake a final project report and presentation as part of this project's assessment.
- Undertake the Work Placement option and your workplace report will assess your ability to work independently with a business on a particular project of benefit to that organisation. You will undertake a final project report and presentation as part of the Work Placement opportunity.
Next steps
Co-located with businesses
As a Keele Business School student, you will study alongside innovative companies that are based in the Business School building, a hub for fostering networks and linking with industry.
Keele Business School is located at the heart of the Keele University Science & Innovation Park, one of the leading developments of its kind in the UK. The Park offers companies a business environment that provides an innovative research culture, combined with academic expertise and the University’s specialist resources, with a variety of opportunities for students to get involved, from internships, knowledge exchange partnerships, and student enterprise initiatives.
Our expertise
You will be taught by academics who are experts in economics and who have specialist qualifications in economics or closed related areas. They have extensive teaching, research and work experience in their field and teaching on this programme is informed by research with academics regularly presenting and publishing academic papers at conferences and economic and financial journals.
Teaching Team
Next steps
Facilities
The course is run from Keele Business School’s new home – the Denise Coates Foundation Building – a state-of-the-art facility complete with 220-seat lecture theatre, a ‘think lab’ study space, data laboratory, cafe and business lounge.
Home to our accounting, business management, economics, finance, HRM, international business, management and marketing programmes, our Business School is the first to be located on a Science Park. As well as new teaching spaces, our building is unique in that it is also home to the Smart Innovation Hub, a project part-funded by the European Regional Development Fund (ERDF), which includes space and support programmes for innovation-led businesses, providing opportunities for students and staff to work collaboratively with entrepreneurs and business owners, gaining invaluable networks and experience.
If you choose to study business and management modules available, you’ll have access to the Bloomberg Suite with all its economic, financial and business real-time data, world news, analyses and reports from the world’s biggest financial organisations. You can choose to complete the Bloomberg Market Concepts (BMC) certificate free of charge, an eight-hour e-learning, self-paced course which covers economic Indicators, currencies, fixed income and equities.
Based in the heart of England, Keele University is easily accessible by motorway and public transport. You’ll find everything’s on your doorstep, with the most important facilities gathered together at the centre of campus, which, at 600 acres, is one of the biggest in the UK.
80% of our research is deemed world-leading or internationally excellent (REF, 2021). In the global top 20 for campus sustainability, environmental and corporate responsibility underpin the running of our own business and these themes are embedded into our teaching of future professionals and leaders.
Next steps