Postgraduate Course

MSc Economics with Data Analytics

MSc Economics with Data Analytics

Overview

The details
Economics with Data Analytics
October 2020
Full-time
1 year
Colchester Campus
Economics

Course subject to final approval

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.
  • Our Economics Department is in the top 5 in the UK for research. Over 90% of our research is rated as “world-leading” or “internationally excellent” (REF 2014)
  • We are University of the Year 2018 (THE 2018)
  • Gold for teaching excellence (TEF 2017)
THE Awards 2018 - Winner University of the Year

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 degree with an overall 2.2 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 6.0 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

Example 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.

The example structure below is representative of this course if taken full-time. If you choose to study part-time, the modules will be split across 2 years.

Econometric Methods

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 simultaneous equation models and panel data models.

View Econometric Methods on our Module Directory

Microeconomics

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

Macroeconomics

What are the main issues facing the modern macroeconomist? How do you critically assess macroeconomic policies? Acquire the necessary tools for macroeconomic analysis, focusing on the important questions faced by macroeconomists today.

View Macroeconomics on our Module Directory

Dissertation

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

Introduction to Programming in Python

The aim of this module is to provide an introduction to computer programming for students with little or no previous experience. The Python language is used in the Linux environment, and students are given a comprehensive introduction to both during the module. The emphasis is on developing the practical skills necessary to write effective programs, with examples taken principally from the realm of data processing and analysis. You will learn how to manipulate and analyse data, graph them and fit models to them. Teaching takes place in workshop-style sessions in a software laboratory, so you can try things out as soon as you learn about them.

View Introduction to Programming in Python on our Module Directory

Economics of Financial Markets (optional)

Study the concepts of risk and return in equity markets, both in the context of asset pricing, and in the management of equity portfolios. You will start by focusing on the analysis of the stylised facts of asset returns, and will then review the theoretical foundations of modern finance, covering expected utility theory and risk aversion.

View Economics of Financial Markets (optional) on our Module Directory

Computational Agent-Based Macro-Economics, Financial Markets and Policy Design (optional)

What challenges do macro-economists face since the 2007 financial crisis? Acquire the cutting-edge tools to address issues in macro-economic and financial markets. Learn to contrast multi-agent macro-modeling tools with more standard ones, and how to contribute to regulatory and policy design issues that have arisen since the financial crisis.

View Computational Agent-Based Macro-Economics, Financial Markets and Policy Design (optional) on our Module Directory

Microeconometrics (optional)

Get to grips with modern microeconometrics. Examine the nature of causal and noncausal models, discuss the nature of microeconomic data structures, and review core econometric methods in the first part of this module. Then, analyse limited dependent variable models, including discrete choice and selection models, and examine program evaluation methods.

View Microeconometrics (optional) on our Module Directory

Time Series Econometrics (optional)

How do you analyse stationary time series? Or non-stationary (integrated) processes? Understand the econometric methods available to analyse models of economic time series. Examine how methods of estimation and inference can be applied to these models. Learn how to use these methods in your own research.

View Time Series Econometrics (optional) on our Module Directory

Panel Data Methods (optional)

What are the main issues with panel data? And the main econometric techniques to analyse panel data? What methods can you use to evaluate spell duration data? Answer such questions with examples from labour economics, while gaining the skills to analyse a variety of research and policy problems.

View Panel Data Methods (optional) on our Module Directory

Applications of Data Analysis (optional)

What are the issues regarding different types of panel datasets? Or problems with survey methodology? Understand longitudinal data analysis by using micro-econometric techniques and critically examine survey methodology issues, like response rate and sampling frames. Apply panel data methods to study labour markets, focusing on marriage, unemployment and wages.

View Applications of Data Analysis (optional) on our Module Directory

Introduction to Financial Market Analysis (optional)

The module introduces students to financial markets as well as providing a detailed introduction to the quantitative methods that are a pre-requisite to other CCFEA modules. Students will be introduced to financial markets such as equities, bonds, interest rates, forwards, futures and foreign exchange. Applications of calculus and statistical methods to finance are also presented.

View Introduction to Financial Market Analysis (optional) on our Module Directory

Computational Models in Economics and Finance (optional)

The modules introduces students to computational thinking in economics and finance by looking at different relevant models and theories, such as agent-based modelling and game theory. Students will also be introduced to various applications, such as financial forecasting, automated bargaining and mechanism design.

View Computational Models in Economics and Finance (optional) on our Module Directory

Big-Data for Computational Finance (optional)

This module is a mix of theory and practice with big data cases in finance. Algorithmic and data science theories will be introduced and followed by a thorough introduction of data-driven algorithms for structures and unstructured data. Modern machine learning and data mining algorithms will be introduced with particular case studies on financial industry.

View Big-Data for Computational Finance (optional) on our Module Directory

Fees and funding

Home/EU fee

£11,820

International fee

£18,460

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.

2019 Open Days (Colchester Campus)

  • Saturday, October 26, 2019
  • Wednesday, March 18, 2020

Applying

You can apply for our postgraduate courses online. You’ll need to provide us with your academic qualifications, as well as supporting documents such as transcripts, English language qualifications and certificates. You can find a list of necessary documents online, but please note we won’t be able to process your application until we have everything we need.

There is no application deadline but we recommend that you apply before 1 July for our taught courses starting in October. We aim to respond to applications within two weeks. If we are able to offer you a place, you will be contacted via email.

Colchester Campus

Visit Colchester Campus

Home to over 13,000 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.

The University makes every effort to ensure that this information on its course finder 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 a change of law or regulatory requirements, industrial action, lack of demand, departure of key personnel, change in government policy, or 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 prospective 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.

Two women looking at a PC screen
Ask us a question

Want to quiz us about your course? Got a question that just needs answering? Get in touch and we’ll do our best to email you back shortly.