How to apply

Overview

The details

Course: Economics with Data Science

Start date: October 2024

Study mode: Full-time

Maximum duration: 1 year

Location: Colchester Campus

Based in: Economics

If you‘re looking to study and analyse pressing economic problems using advanced data analytic techniques, the MSc Economics with Data Analytics is for you. The Department of Economics and the School of Computer Science and Electronic Engineering have created a joint course that allows you to develop the economic and computational tools to not just isolate problems but also develop sophisticated evidence-based answers.

You'll have the opportunity to learn the essentials of economics, so you can build a grounding to analyse economic problems, you will then build on this knowledge with programming skills. We combine these two approaches in a series of applications that allow you to access and process big data using advanced econometrics and also apply computational techniques to questions of financial economics and macroeconomics.

Our MSc Economics with Data Analytics allows you to build a theoretical understanding of how to approach economic problems, together with computational skills, with the opportunity of applying these research skills in applications by studying topics such as:

Computational Models for Microeconomics and Finance
Computational Macroeconomics and Policy Design
Microeconometrics
Applications of Data Analysis

With this course you also have the opportunity to study abroad at one of our partner institutions and achieve a dual award, which means you'll receive two Masters degrees in two years. Find out more on our dual award webpage.

Why we're great.

We are 4th in UK for research power in economics and econometrics (Times Higher Education research power measure, Research Excellence Framework 2021)
We are University of the Year 2018 (THE 2018)
Gold for teaching excellence (TEF 2017)

Our expert staff

Study and work alongside some of the most prominent social scientists of our time. Our researchers are at the forefront of their field and have even received MBEs, with students coming from across the globe to study, research or work with us.

Many of our researchers also provide consultancy services to central banks and government agencies, helping us to develop research for today's society as well as informing our teaching for the future.

For a full list of research interests, see our staff pages in Economics and Computer Science and Electronic Engineering.

Specialist facilities

Extensive software for quantitative analysis is available in all computer labs across the university
Access a variety of economics databases and multiple copies of textbooks and e-books in the Albert Sloman Library
The UK Data Archive and the Institute for Social and Economics Research (ISER) at Essex contribute to our internationally outstanding data science environment

Your future

After completing your Masters with us, you may wish to extend your knowledge with a research degree – many Essex graduates decide to stay here for further study.

Alternatively, you may choose to initiate your professional career. Our course will prepare you for employment; recent surveys have shown that higher degree graduates are more likely to obtain jobs at professional or managerial level. Our recent Master's level Economics and CSEE graduates have gone on to work for a range of high-profile organisations like The Bank of England and the International Monetary Fund.

We also work with the university's Employability and Careers Centre to help you find out about further work experience, internships, placements, and voluntary opportunities.

Entry requirements

UK entry requirements

A 2:2 degree, or international equivalent, in any discipline which includes three relevant modules in:

Econometrics (or Maths, or Statistics)
Macroeconomics
Microeconomics

We will also consider applicants with any other 2:2 degree or above where there is one year's relevant work experience, after graduating, in the field of economics/banking.

International & EU entry requirements

We accept a wide range of qualifications from applicants studying in the EU and other countries. Get in touch with any questions you may have about the qualifications we accept. Remember to tell us about the qualifications you have already completed or are currently taking.

Sorry, the entry requirements for the country that you have selected are not available here. Please select your country page where you'll find this information.

English language requirements

If English is not your first language, we require IELTS 6.0 overall with a minimum score of 5.5 in all components.

If you do not meet our IELTS requirements then you may be able to complete a pre-sessional English pathway that enables you to start your course without retaking IELTS.

Additional Notes

The University uses academic selection criteria to determine an applicant’s ability to successfully complete a course at the University of Essex. Where appropriate, we may ask for specific information relating to previous modules studied or work experience.

Structure

Course structure

Our course is structured to combine theory, methods and applications in different departments with special emphasis in research methods. A combination of compulsory and optional modules gives you a flexible structure. Below is just one example structure from the current academic year of a combination of modules you could take. Your course structure could differ based on the modules you choose.

Our research-led teaching is continually evolving to address the latest challenges and breakthroughs in the field, therefore all modules listed are subject to change. View the compulsory modules and full list of optional modules currently on offer, please view the programme specification via the link below.

We understand that deciding where and what to study is a very important decision for you. We'll make all reasonable efforts to provide you with the courses, services and facilities as described on our website and in line with your contract with us. However, if we need to make material changes, for example due to significant disruption, we'll let our applicants and students know as soon as possible.

Components and modules explained

Components

Components are the blocks of study that make up your course. A component may have a set module which you must study, or a number of modules from which you can choose.

Each component has a status and carries a certain number of credits towards your qualification.

Status	What this means
Core	You must take the set module for this component and you must pass. No failure can be permitted.
Core with Options	You can choose which module to study from the available options for this component but you must pass. No failure can be permitted.
Compulsory	You must take the set module for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.
Compulsory with Options	You can choose which module to study from the available options for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.
Optional	You can choose which module to study from the available options for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.

The modules that are available for you to choose for each component will depend on several factors, including which modules you have chosen for other components, which modules you have completed in previous years of your course, and which term the module is taught in.

Modules

Modules are the individual units of study for your course. Each module has its own set of learning outcomes and assessment criteria and also carries a certain number of credits.

In most cases you will study one module per component, but in some cases you may need to study more than one module. For example, a 30-credit component may comprise of either one 30-credit module, or two 15-credit modules, depending on the options available.

Modules may be taught at different times of the year and by a different department or school to the one your course is primarily based in. You can find this information from the module code. For example, the module code HR100-4-FY means:

100

The department or school the module will be taught by.

In this example, the module would be taught by the Department of History.

The module number.

The UK academic level of the module.

A standard undergraduate course will comprise of level 4, 5 and 6 modules - increasing as you progress through the course.

A standard postgraduate taught course will comprise of level 7 modules.

A postgraduate research degree is a level 8 qualification.

The term the module will be taught in.

AU: Autumn term
SP: Spring term
SU: Summer term
FY: Full year
AP: Autumn and Spring terms
PS: Spring and Summer terms
AS: Autumn and Summer terms

COMPONENT 01: COMPULSORY

Dissertation

(40 CREDITS)

What interests you? Undertake a research project of your choosing, studying a specific economic issue or set of problems in depth, with supervision from our world-leading academic staff. Gain experience of original and independent work, making use of and building on skills that you have acquired during your Masters.

View Dissertation on our Module Directory

COMPONENT 02: COMPULSORY

Microeconomics

(20 CREDITS)

What are the concepts and methods of modern microeconomics? And how can you apply economic reasoning to this? Understand the main principles and theories of modern microeconomics, looking at topics like contract theory, equilibrium concepts in game theory, and market signalling. Learn to apply economic reasoning to these arguments.

View Microeconomics on our Module Directory

COMPONENT 03: COMPULSORY

Computational Economics

(20 CREDITS)

This module will train you in R and Python programming alongside applications to agent-based computational economics models and machine learning. You don't need prior programming experience. You'll gain hands-on experience in laboratory sessions and equip yourself with computational techniques that can be applied to solving real-world economic and financial problems based on large-scale data.

View Computational Economics on our Module Directory

COMPONENT 04: COMPULSORY

Econometric Methods

(20 CREDITS)

Wish to conduct your own research using econometric methods? Understand econometric methods and learn to apply them to a wide variety of situations. Examine methods of linear regression and hypothesis testing. Study time series concepts of unit roots and co-integration. Explore ideas around model selection and panel data models.

View Econometric Methods on our Module Directory

COMPONENT 05: COMPULSORY

Data Science for Economics

(20 CREDITS)

This postgraduate module equips you with the key tools in modern data science, with a focus on machine learning (ML) and its application to Economics and Finance. The main goal of this module is to enable you to understand how machine learning tools can complement the tools of traditional econometrics and how to apply these techniques to real-world economics and finance problems. By the end of this module you will have: 1. Developed a comprehensive understanding of key concepts in modern machine learning (ML): classification, prediction, supervised and unsupervised learning 2. Demonstrated a critical understanding of the advantages and disadvantages of ML as compared to traditional econometric approaches 3. Applied ML to real-world economics and finance problems, with examples based on: i. Prediction ii. Causal Inference and Policy Evaluation

View Data Science for Economics on our Module Directory

COMPONENT 06: COMPULSORY WITH OPTIONS

(20 CREDITS)

COMPONENT 07: COMPULSORY WITH OPTIONS

(20 CREDITS)

COMPONENT 08: COMPULSORY WITH OPTIONS

(20 CREDITS)

Fees and funding

Home/UK fee

£14,300

International fee

£22,400

Masters fees and funding information

Research (e.g. PhD) fees and funding information

What's next

We hold Open Days for all our applicants throughout the year. Our Colchester Campus events are a great way to find out more about studying at Essex, and give you the chance to:

tour our campus and accommodation
find out answers to your questions about our courses, student finance, graduate employability, student support and more
meet our students and staff

If the dates of our organised events aren’t suitable for you, feel free to get in touch by emailing tours@essex.ac.uk and we’ll arrange an individual campus tour for you.

2024 Open Days (Colchester Campus)

Saturday 15 June 2024 - June Open Day

Saturday 21 September 2024 - September Open Day

Saturday 26 October 2024 - October Open Day

Find out more

You can apply for this postgraduate course online. Before you apply, please check our information about necessary documents that we'll ask you to provide as part of your application.

We aim to respond to applications within two weeks. If we are able to offer you a place, you will be contacted via email.

For information on our deadline to apply for this course, please see our ‘how to apply' information.

A sunny day with banners flying on Colchester Campus Square 4.

Set within 200 acres of award-winning parkland - Wivenhoe Park and located two miles from the historic city centre of Colchester – England's oldest recorded development. Our Colchester Campus is also easily reached from London and Stansted Airport in under one hour.

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View from Square 2 outside the Rab Butler Building looking towards Square 3

If you live too far away to come to Essex (or have a busy lifestyle), no problem. Our 360 degree virtual tour allows you to explore the Colchester Campus from the comfort of your home. Check out our accommodation options, facilities and social spaces.

At Essex we pride ourselves on being a welcoming and inclusive student community. We offer a wide range of support to individuals and groups of student members who may have specific requirements, interests or responsibilities.

Find out more

The University makes every effort to ensure that this information on its programme specification is accurate and up-to-date. Exceptionally it can be necessary to make changes, for example to courses, facilities or fees. Examples of such reasons might include, but are not limited to: strikes, other industrial action, staff illness, severe weather, fire, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack (whether declared or not), natural disaster, restrictions imposed by government or public authorities, epidemic or pandemic disease, failure of public utilities or transport systems or the withdrawal/reduction of funding. Changes to courses may for example consist of variations to the content and method of delivery of programmes, courses and other services, to discontinue programmes, courses and other services and to merge or combine programmes or courses. The University will endeavour to keep such changes to a minimum, and will also keep students informed appropriately by updating our programme specifications. The University would inform and engage with you if your course was to be discontinued, and would provide you with options, where appropriate, in line with our Compensation and Refund Policy.

The full Procedures, Rules and Regulations of the University governing how it operates are set out in the Charter, Statutes and Ordinances and in the University Regulations, Policy and Procedures.