How to apply

Overview

The details

Course: Management Economics

Start date: October 2024

Study mode: Full-time

Maximum duration: 1 year

Location: Colchester Campus

Based in: Economics

This course is closed for January 2023 entry. Applications are open for October 2023 entry.

Our MSc Management Economics trains you to use economics in managerial decisions and in the analysing of strategic interaction among firms. We combine theory and applications to provide you with a unique combination of business knowledge and economic skills.

Upon completion of our course you will be able to think strategically and will be equipped to discuss economic theory in plain language, relating it to managerial decisions and market intelligence. You explore topics including:

Contract theory, incentive theory, and the theory of the firm
Real-world management decision-making
The interaction between firms in different market structures
How strategic interactions can affect sales and profitability
The main principles and theories of modern microeconomics

We are 4th in UK for research power in economics and econometrics (Times Higher Education research power measure, Research Excellence Framework 2021). Much of this world-class research is related to policy, and we have particular strengths in the areas of:

Game theory and strategic interactions
Theoretical and applied econometrics
Economic policy

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

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.

Learn how to use economics in managerial decisions that will shape all areas of an organisation
Become a strategic thinker that can discuss economic theory in both fine detail and in plain language
Stand out from the crowd for a career in business with a unique combination of business knowledge and economic skills

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.

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:

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

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.

On our course you gain key employability skills including mathematical techniques, research skills, communication and modelling.

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 also work with the university's Student Development Team to help you find out about further work experience, internships, placements, and voluntary opportunities.

One Masters not enough for you?

We offer a number of postgraduate taught double degrees with our international partners. You work for two Masters degrees, one at Essex and another at a prestigious university across the globe, gaining them both in a shorter time than studying them separately. This unique opportunity gives you a competitive edge when applying for jobs or prepares you for PhD study.

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 two years' 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 research-led teaching is continually evolving to address the latest challenges and breakthroughs in the field. The following modules are based on the current course structure and may change in response to new curriculum developments and innovation.

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: 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

COMPONENT 02: 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 03: 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 04: COMPULSORY

Theory of Industrial Organisation

(20 CREDITS)

How do firms interact? What impact does this have on products that are available to you? Or the price that you pay? Understand current thinking on industrial organisation, with a focus on competition policy, regulation and business strategy. Apply analytical models of firm behaviour and strategic interaction to real-life situations.

View Theory of Industrial Organisation on our Module Directory

COMPONENT 05: COMPULSORY

Economics of Incentives

(20 CREDITS)

What compensation should CEOs get? How can you motivate team performance? What impact does an altruistic manager make? Study real-world issues like policymaking, finance and management using economic models from contract theory, incentive theory, and the theory of the firm.

View Economics of Incentives on our Module Directory

COMPONENT 06: OPTIONAL

(40 CREDITS)

COMPONENT 07: OPTIONAL

(20 CREDITS)

Teaching

Postgraduate students in the Department of Economics typically attend a two-hour lecture and a one-hour class or lab for each module per week.
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

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

£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.

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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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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.

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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.

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