What Can I Do With a Masters in Economics?

A Masters degree in Economics is a competitive qualification with one of the highest average graduate salaries. These courses prepare students for jobs in several different sectors, ranging from the government and public sector to business, research and teaching.

This page will give you an introduction to the kinds of skills you can expect to gain with an Economics Masters, as well as typical job roles and average earnings according to official government data.

If you study a Masters in Economics, you’ll receive advanced training in different economic principles as well as quantitative and qualitative research methodologies. Some of the main areas you could develop your expertise in include:

• Behavioural economics
• Econometrics
• Economic policy
• Finance and investment
• Game theory
• International trade
• Macroeconomics
• Microeconomics
• Statistics

You’ll also have the opportunity to undertake a substantial research project in the form of your dissertation. This could take the form of historical analysis, theoretical work or computer modelling, with plenty of freedom to pursue your own academic interests.

A Masters in Economics could open up a whole range of employment possibilities, with the scope to work across the public sector, the private sector and in academia.

For example, if you want to work in the public sector you could apply for jobs as a:

• Government advisor (local or national)
• Statistician
• Data scientist
• Financial analyst
• Consultant
• Civil servant
• Accountant

Economics degrees can also prepare you for sought-after jobs in finance and investment, including:

• Auditor
• Banker
• Data modelling analyst
• Risk analyst
• Stockbroker

Your economic expertise will also stand you in good stead if you want to work for a think tank or policy institute, producing research or guidance for a range of clients across the public and private sectors.

Of course, you can work as a lecturer or a researcher within a university’s Economics department, as well as going on to complete a PhD.

Economics postgraduates have second highest average earnings of any subject (behind only MBA students).

• The median earnings of an Economics Masters graduate five years after finishing their course was £48,300
• The median earnings of an Economics first degree graduate five years after finishing their course was £44,300

These figures come from UK-based students who went to universities in England.

This means that, on average, Masters graduates in Economics earn £4,000 per year more than their Bachelors equivalents (around 9% higher).