Postgraduate Course

MRes Economics

MRes Economics

Overview

The details
Economics
October 2022
Full-time
1 year
Colchester Campus
Economics

At Essex we push the frontiers of accepted wisdom, critically examining the decisions of individuals, the strategies of firms, and the policies of governments to understand and challenge the standard paradigms of economics. Our popular Masters in Research course (MRes) provides you with a stimulating route into PhD studies, and develops the expert research mind-set required for a high-profile job in finance or business, if you want to work in the private sector after your degree.

The MRes course is designed for you to master research methods and tools, and to acquire a solid foundation to pursue a more research focused career. MRes students are expected to commit full time to their studies and with a high level of independence to start developing a research mindset. You learn through a combination of lectures, classes and independent work which allow you to appreciate and understand the deeper connections between topics. This includes making connections during classes and lectures and also independently. You also gain a deepened understanding of how to apply techniques to new problems and see beyond the surface to identify when concepts and tools from one area could be applied to another. Due to this style of learning you develop the ability to tackle economic problems with a unified approach and identify a suitable research topic for your dissertation.

You receive lectures, classes and advanced training in the two-term sequence of microeconomics, macroeconomics and econometrics. You have the opportunity to attend specialized classes which aim at developing a research mindset and a deeper understanding of the subjects; whilst also learning complementary tools and techniques independently. So a willingness to work with mathematical and statistical concepts, and understand rigorous mathematical reasoning, is vital.

You are strongly encouraged to work in groups, to discuss and challenge themselves beyond the material learnt from lectures or classes. Specially designed sets of exercises will help you in achieving these goals. During the MRes course you explore a variety of topics including:

  • The competitive economy and imperfections in markets
  • General equilibrium theory and Public Choice
  • Key paradigms of macroeconomics and macroeconomic policy
  • Econometric methods and mathematical methods
  • Strategic behaviour and bargaining

The Department of Economics are top 5 in the UK for research, with over 90% of our research rated as “world-leading” or “internationally excellent” (REF 2014). Much of this world-class research is related to policy, and we have particular strengths in many areas of economics. See the full list here.

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.
  • Top 25 for economics The Times and Sunday Times Good University Guide 2021)
  • Develop an expert research mind-set and start a rewarding journey towards a PhD
  • Receive advanced training in core areas of micro- and macro-economics and econometrics
THE Awards 2018 - Winner University of the Year

Our expert staff

Study and work alongside some of the most prominent economists 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 businesses in London and other major financial centres, helping us to develop research for today's society as well as informing our teaching for the future.

The quality of our work is reflected in our stream of publications in high-profile academic journals, including American Economic Review, Econometrica, Journal of Political Economy, and Review of Economic Studies.

For a full list of research interests, see our Department’s staff pages.

Specialist facilities

Take advantage of our wide range of learning resources to assist you in your studies:

Your future

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

Alternatively, our course also prepares you for employment; recent surveys have shown that higher degree graduates are more likely to obtain jobs at professional or managerial level.

Our recent graduates have gone on to work for a range of high-profile organisations:

  • The Ministry of Finance
  • HM Treasury
  • The Work Foundation
  • Fitch Ratings
  • Schroders Investment Management

More generally, our graduates find employment in roles such as business and financial analysts, management consultants, government officials, and economists for banks and other financial organisations.

We work with the University’s Careers Services to help you find out about further work experience, internships, placements, and voluntary opportunities.

Entry requirements

UK entry requirements

A degree with an overall Class 1 in a discipline related to economics such as: Economics, Maths, Engineering, Finance, Physics or any other degree with a strong maths component.

The Degree should contain some economics components including Macroeconomics; Microeconomics or Econometrics

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

IELTS 6.5 overall with a minimum component score of 5.5

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

We offer a flexible course structure with a mixture of core/compulsory modules, and optional modules chosen from lists.

Our research-led teaching is continually evolving to address the latest challenges and breakthroughs in the field. The course content is therefore reviewed on an annual basis to ensure our courses remain up-to-date so modules listed are subject to change.

Teaching and learning disclaimer

Following the impact of the pandemic, we made changes to our teaching and assessment to ensure our current students could continue with their studies uninterrupted and safely. These changes included courses being taught through blended delivery, normally including some face-to-face teaching, online provision, or a combination of both across the year.

The teaching and assessment methods listed show what is currently approved for 2022 entry; changes may be necessary if, by the beginning of this course, we need to adapt the way we’re delivering them due to the external environment, and to allow you to continue to receive the best education possible safely and seamlessly.

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:

HR 100  4  FY

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

MREs Microeconomics
(20 CREDITS)

This module covers the concepts and methods of modern microeconomics. You will begin with an overview of the competitive economy and develop the two fundamental theorems of welfare economics. You will then study various types of imperfections in markets such as differential information and strategic interaction with a view to understanding the potential role for government policy. Topics covered include contract theory (with moral hazard and adverse selection problems), equilibrium concepts in game theory, and market signalling.

View MREs Microeconomics on our Module Directory

COMPONENT 02: COMPULSORY

MREs Macroeconomics
(20 CREDITS)

This is an advanced module in macroeconomics. You will cover the concepts and methods of modern macroeconomics, beginning with an overview of the two main paradigms of macroeconomics: the Classical and Keynesian models. You will then develop the main model to study the economy in the long run: the Solow growth model. You will then study the determinants of consumption and investment, and finish with the study of economies in an infinite horizon.

View MREs Macroeconomics on our Module Directory

COMPONENT 03: COMPULSORY

MREs Econometrics
(20 CREDITS)

This module aims to provide you with necessary technical fundamentals in econometrics that would be important for your research in the future. You will learn about OLS, WLS, GLS, GMM, and MLE estimation techniques and the rigorous properties of those estimators by using linear algebra. This module begins with a brief review of the mathematical and statistical prerequisites needed for econometrics illustrated using ordinary least squares methods in the classical linear regression model. It then proceeds to cover the use of asymptotic methods in econometrics, classical hypothesis tests, generalized least squares, instrumental variables and the generalized method of moments, and maximum likelihood.

View MREs Econometrics on our Module Directory

COMPONENT 04: COMPULSORY

Mathematical Methods
(20 CREDITS)

What mathematical concepts are vital to understanding modern economic theory? Gain the essential mathematics skills needed to study economics at Masters-level, such as optimisation theory and the role of equilibrium. Understand how economic arguments work and improve your problem solving skills by using real-world economic problems.

View Mathematical Methods on our Module Directory

COMPONENT 05: COMPULSORY

Advanced Microeconomics
(20 CREDITS)

Interested in understanding current research and undertaking research in economics? This module covers topics in decision theory, game theory and information economics, contract theory and mechanism design with an emphasis on mathematical formalism. The module will introduce you to the mathematical framework and methods that are relevant to research in these topics.

View Advanced Microeconomics on our Module Directory

COMPONENT 06: COMPULSORY

Advanced Macroeconomics
(20 CREDITS)

This module introduces some of the fundamental building blocks of modern macroeconomics left uncovered by the first term module and will cover both real and monetary economies. After an advanced treatment of consumption and investment, the module will focus on the role of innovation in economic growth and its modelling. We will then look at fiscal policies, mainly the concepts of Ricardian equivalence, distortionary and optimal taxation and tax smoothing. Within the overlapping generation framework we will look at the issue of funding of social security. Finally, the module will consider monetary policy.

View Advanced Macroeconomics on our Module Directory

COMPONENT 07: COMPULSORY WITH OPTIONS

EC965-7-SP or EC964-7-SP
(20 CREDITS)

COMPONENT 08: CORE

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

Teaching

  • Core components can be combined with optional modules to enable you to gain either in-depth specialisation or a breadth of understanding across several topics
  • Our postgraduates are encouraged to attend conferences and seminars

Assessment

  • Each module is assessed with a final examination and a coursework component
  • Coursework is taken in the form of a term paper or a midterm test

Assessment in all the modules in the MRes course reflects the deeper research-oriented learning that MRes students are expected to achieve.

Dissertation

  • You undertake an individually supervised research project that involves the in-depth study of a specific economic problem or issue

Fees and funding

Home/UK fee

£13,030

International fee

£20,350

Fees will increase for each academic year of study.

What's next

Open Days

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.

2021 Open Days (Colchester Campus)

  • Saturday, October 23, 2021
  • Saturday, November 13, 2021

Applying

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.

Colchester Campus

Visit Colchester Campus

Home to 15,000 students from more than 130 countries, our Colchester Campus is the largest of our three sites, making us one of the most internationally diverse campuses on the planet - we like to think of ourselves as the world in one place.

The Campus is set within 200 acres of beautiful parkland, located two miles from the historic town centre of Colchester – England's oldest recorded town. Our Colchester Campus is also easily reached from London and Stansted Airport in under one hour.

 

Virtual tours

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.

Exhibitions

Our staff travel the world to speak to people about the courses on offer at Essex. Take a look at our list of exhibition dates to see if we’ll be near you in the future.

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 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.

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