|Location||United Kingdom, London, Campus Marylebone|
|Type||Master courses, full-time|
|Nominal duration||1 year|
|Tuition fee||£12,000.00 per year|
Undergraduate diploma (or higher)
You will normally have either a minimum Lower 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
IELTS 6.5 or TOEFL or CAE equivalent
At least 2 reference(s) must be provided.
This innovative course offers both MSc and MA streams. It has been designed to develop your ability to apply economic analysis to policy issues and business problems, which are often ambiguous and multi-faceted. Although there is a strong theoretical core, the course focus of the course is very much on the practical application of economic techniques to problems, and on developing the ability to communicate the insights that economic analysis can provide.
The course has been created in conjunction with the Government Economic Service (GES) – a major employer of economics graduates in the UK. The University of Westminster is the only English university to have secured GES recommended status for a postgraduate course in economics.
The course aims to provide you with an in-depth knowledge and understanding of the latest developments in economics, with a focus on practical skills and development of the skills needed by a working economist. It is specifically aimed at those with a genuine interest in the application of economics to real-world situations.
As well as enhancing your ability to apply relevant economic principles in the support of policy and strategy development, the course aims to develop your ability to communicate complex issues to wide audiences, your awareness of significant sources of economic and financial data, the problems faced when carrying out policy evaluation and your capability for self-awareness and group working.
You will gain an understanding of the key concepts in economics that underpin public sector policy and business decision making. This includes the various scenarios where we explore opportunity cost, equilibrium and disequilibrium, strategic interaction, market failure and the related concept of externalities.
You’ll develop your analytical skills by applying these concepts to current challenges that face the profession, at both macro and micro levels, and in both private and public sectors. This will provide you with the latest insights drawn from both the academic and practitioner arenas.
Around a common core of modules covering key theoretical and practical elements, the MSc stream offers the possibility of pursuing a course of study in economics with a greater quantitative focus, while the MA stream has a stronger international emphasis.
Students on this course benefit from free access to part of the material on the course reading list and an online subscription to Financial Times. In addition, you will get exposure to a global network of professional economists through a free student membership to the Society of Business Economists.
Economic Evaluation Project
This module provides you with the framework within which to develop your full project dissertation from the proposal submitted as part of the Research Methods module. The majority of projects undertaken by MSc students would be expected to involve an empirical component and appropriate quantitative analysis. Projects undertaken by MA students are likely to be of a more applied nature, possibly issue or problem based.
Macroeconomic Analysis and Policy
This module reviews the historical evolution of macroeconomic policy and, through a review of the theoretical and empirical literature, develops the analytical framework of macroeconomics underpinning contemporary macroeconomic policy.
Microeconomic Analysis and Policy
You will review theoretical and empirical microeconomic approaches in order to shed light on business decision making and microeconomic policy in mixed economies.
This module aims to enhance your knowledge and competence of the research process, and the application of research methods in the area of applied economics.
Strategy and Appraisal in Economics
This module applies the theoretical tools, concepts and methodology of economics to private and public sector scenarios, with an emphasis on communicating and appraising policy and strategy options.
Through this module you will cover a range of data analysis methods and concepts.
Economic Policy Perspectives
This module analyses economic policy issues regarding inflation, monetary and fiscal policy, European Monetary Union, unemployment, the causes and effects of changes in income distribution, growth, financial stability, and crisis, in particular the great recession of 2008-2012.
At Westminster, we have always believed that your University experience should be designed to enhance your professional life. Today’s organisations need graduates with both good degrees and employability skills, and we are committed to enhancing your graduate employability by ensuring that career development skills are embedded in all courses.
Opportunities for part-time work, placements and work-related learning activities are widely available, and can provide you with extra cash and help you to demonstrate that you have the skills employers are looking for. In London there is a plentiful supply of part-time work – most students at the University of Westminster work part time (or full time during vacations) to help support their studies.
We continue to widen and strengthen our links with employers, involving them in curriculum design and encouraging their participation in other aspects of career education and guidance. Staff take into account the latest data on labour market trends and employers’ requirements to continually improve the service delivered to students.