MSc in Applied Economics (MSc AE)

Course Overview

Economics as a discipline has become more relevant than ever as a means of understanding contemporary trends in the global economy and in providing the tools and techniques for businesses and governments to analyse, interpret, and respond to the local and global challenges they face.
The MSc in Applied Economics course aims to provide successful students with a deep, systematic, and structured knowledge of economic theories and principles, as well as the practical skills which will enable them to develop a career as a professional economist or economic consultant. Students develop the ability to understand contemporary economic problems in micro and macroeconomics, development economics, and finance, as well as learning to apply advanced knowledge to analyse policy measures and their impact on government, businesses, and citizens’ welfare. Additionally, students learn to effectively communicate the outcomes of econometric analyses and give advice to policymakers and business leaders to assist them in making better

How you’ll study

In a fast-changing global environment, the course seeks to provide students with the specialized knowledge needed to pursue professional careers in the private, public or institutional sectors as economists or consultants, who exhibit an extensive knowledge of both economic theories and their applications in the real world.
The philosophy of the course emphasises:
  • the application of economic theories and methods to solve economic problems
  • the behavioural analysis of economic agents
  • the development of policy appraisal and evaluation skills
  • how to put the acquired skills into practice to advise governments and businesses on what actions they should to take (i.e. appraising alternative strategic options or using econometrics to evaluate the effectiveness of previous decisions).


Graduates of the MSc in Applied Economics course can work as professional economists in governments, international organisations, and academia, or launch a career in the private sector as managers, business data analysts, or consultants who require a strong, practically focused knowledge of economics.
A practical approach makes our economics MSc ideal not only for those with a technical background, but also other backgrounds such as the social sciences or humanities, who wish to launch careers in banking and finance, international trade, or the public sector.

Entry Requirements

Formal Higher Education
Applicants should normally hold an Undergraduate degree (or equivalent) from a recognised higher education institution with a minimum of a second lower class honours (2:2 or equivalent). Applicants without a formal HE qualification or the formal qualification is not at the equivalent academic standard, may be considered if the following conditions apply
  • They are or have been in employment where their employed role is in the area of the course and involves a high level of analysis and critical thinking.
  • If so such candidates will be required to provide evidence of such employment, its nature and level. This evidence will be considered at interview and the decision of the panel (see below) will be final.

Core modules

Economic growth and development
The module helps students to critically evaluate recent developments in theory and policy of development economics; confidently apply the standard growth models to analyse economic issues and behavior of government, consumers and producers. Evaluate appropriate advanced methodological approaches and their effectiveness; undertake analysis of quality of available data/evidence and judge the appropriateness of the methodologies used; evaluate economic policies and their impact on economic developments in developed as well as developing countries.

Optional modules

Contemporary finance and its applications
The module helps students to demonstrate an understanding of contemporary security analysis and valuation; and the ability to apply the techniques and skills to relevant real-world financial issues; critically evaluate processes of investment decision making in corporate entities, portfolio management tools and techniques; formulate and construct risk models of corporate and/or public entities and create tools/aids for determining, quantifying and monitoring various forms of risk in real world scenarios; analyse and critically evaluate the key concepts, processes and tools used in financial risk management.