The MPhil in Economics is a one-year master’s degree that runs from mid-September to late July. This degree is specifically aimed at candidates who are interested in undertaking a master’s degree that will give them the technical training required to undertake a career as a professional economist working for, say, the UK Government Economic Service or an economics consultancy.
On completion of the MPhil degree students should have:
1. acquired an advanced technical training in microeconomics, macroeconomics, and econometrics; 2. acquired, through optional papers, some knowledge of work at the frontiers of the subject in particular areas; 3. begun to acquire independent research skills and experience of putting them into practice; 4. acquired experience and guidance in formulating a realistic research topic and prepared written work to a strict timetable; 5. acquired sufficient knowledge and understanding of advanced economics to proceed to a career as a professional economist in business or government, or to a research degree.
Each student will take eight modules plus a dissertation. One module is equivalent to eighteen hours of lectures.
- to attend the preparatory course in mathematics and statistics - one compulsory module in each of the three core areas  - Three more modules which can be taken from any of the core areas  - two additional modules, either from the core areas or from the list of additional options  - a dissertation of up to 10,000 words.
There is an internal examination on the material covered in the preparatory course which is assessed on a pass/fail basis. Classes in problem sets take place for core compulsory modules - one problem set for each of the compulsory modules is formally assessed. Mid-course examinations in microeconomics I, macroeconomics I and econometric methods take place in January; marks are recorded but do not count towards the final degree result. Each student receives 2 hours of supervision for the dissertation component of the MPhil in Economics.
Students submit a 10,000 word dissertation at the end of July worth 20% of the final overall mark.
Students are examined on 8 coursework modules in May/June worth 80% of the final overall mark.
Although the MPhil in Economics is designed for students who wish to obtain a one-year master’s qualification before leaving academic economics, it will be possible for students to continue from the MPhil in Economics onto the PhD programme. To do this, students will be expected to perform at a standard similar to that required for continuation from the MPhil in Economic Research; this means that as well as achieving continuation marks, students would need to have taken the advanced modules that are compulsory for MPhil in Economic Research students. Continuation is also conditional on the appointment of a supervisor.