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Economics MSc

  • Level(s) of Study: Postgraduate taught
  • Start Date(s): September 2023
  • Duration: One year full-time / two years with a work placement
  • Study Mode(s): Full-time / Sandwich
  • Campus: City Campus
  • Entry Requirements:
    More information

Introduction:

Our MSc Economics degree has been designed to give you an in-depth understanding of economic concepts, principles and techniques by focusing on the application of economics to contemporary real-world issues.

You will be encouraged to think like an economist through the application of economic ideas and methods drawn from a range of alternative perspectives. The emphasis of this degree is on the application of versatile tools, techniques and methods of thought which are distinctively associated with professional economists.

You will have the opportunity to work hands-on with economic tools and techniques, including the use of our state-of the-art Business Lab - a real-time trading environment. You will learn how to access economic phenomena, using theory and evidence to draw insights into the underlying causes and importantly their impact on people, businesses and the wider society.

In your third semester, you’ll choose an experiential project. With the opportunity to use your skills in a real-world setting, you can choose from completing a consultancy experience project, an in-company experience project, a business research project or a global experience project.

What you’ll gain from this degree?

  • apply advanced economic concepts and techniques to analyse problems in scare resource allocation.
  • synthesise and critique a range of economic ideas and methods relating to issues and problems in the allocation of scarce resources.
  • be able to apply advanced economic concepts and techniques to evaluate international trade and investment flows.
  • learn how to synthesise and critique a range of methods employed in evaluating prospective investments in goods and services.
  • evaluate the rigour and validity of published research and assess its relevance to the practice of economics.
  • make recommendations for organisational practice based on theoretical insights through a process of experiential or applied learning.
  • develop a critical understanding of the role of the economics discipline in the global context.

Nottingham Business School have both EQUIS and AACSB accreditation.

  • Gain hands-on experience with economic tools and techniques, including the use of our state-of the-art Business Lab - a real-time trading environment.
  • You will be allocated an Academic Mentor at the beginning of the academic year and you will meet with them regularly throughout the year. Academic Mentors help you make the most of your time at NBS.
  • NBS is part of the 1% of business schools worldwide to have both EQUIS and AACSB accreditation.
  • At NBS you can create a personalised learning experience, giving you a unique Masters degree that equips you with the skills you'll need, for the career you want.

Course accreditation

  • EQUIS logo

What you’ll study

At NBS you can create a personalised learning experience, giving you a unique Masters degree that equips you with the skills you'll need, for the career you want. Each of the modules will be delivered over a four week period, with teaching delivered in three weeks and the fourth week left clear for assessment work. This enables you to focus on one subject at a time, whilst allowing time for preparation and assessment work.

Take a look at our current term dates to give you an idea of the module structures.

Semester One

Behavioural Applications in Economics and Finance (20 credits)

The overall aim of the module is to help you to increase your understanding of less traditional areas of microeconomics and finance theory that incorporate behavioural factors. These will provide an understanding of where standard economic and finance theories based on perfectly rationality and/or rational expectations are unable to explain anomalies experienced in real life. These theories will help you develop an understanding of why individuals often take actions which appear irrational. It is also intended that you will be able to think about how these theories might be tested in real life contexts to provide you with the skills to apply and test theories in your future careers.

Using Quantitative Data in Economic Analysis (20 credits)

An ability to understand and analyse quantitative data is an important part of an economist’s toolkit. This module will develop your numeracy, enabling you to explore, describe and utilise data in economic and business analysis. Advance your knowledge, appreciation and skills for applying ideas, tools and techniques of economic analysis to unfamiliar cases in the global business environment.

Contemporary Issues in Economics  (20 credits)

This module aims to develop your ability to apply economic analysis to a range of contemporary economic problems and policies. You will be able to apply knowledge, tools and techniques to resolve issues in new and diverse situations within the economics discipline.

Semester Two

International Trade and Investment (20 credits)

This option will advance your knowledge and skills for adopting data analysis, supported by a range of economic models, to interpret patterns of global trade and investment.

Economic Evaluation Techniques (20 credits)

On this module, you will study realistic case-studies which advance your knowledge and practical skills for applying tools and techniques used by professional economists to inform decision-making in a range of organisations.

Economic Analysis of Global Issues (20 credits)

On this module, you will be able to apply ideas, tools and techniques of economics to various live issues in the global business environment. You will apply advanced economic concepts and techniques to evaluate international trade and investment flows.

Semester Three

In your final semester you will take on a major project, giving you a fantastic opportunity to use the theories and knowledge you have gained to produce a challenging, meaningful piece of work. Projects include:

Consultancy Experience Project (40 credits)

Working as part of a team, you will undertake focused research, developing your professional skills, managing a complex project and delivering results in a real business situation. You will present your findings to the client and learn valuable project management tools and concepts.

In-Company Experience Project (40 credits)

On an in-company experience project of seven weeks or more, you'll apply the theories you've learnt to a substantial, live project. This will involve focused research, developing skills, managing a complex project and delivering results in a real business situation. You'll also learn project management tools and concepts.

Business Research Project (40 credits)

This project is a more traditional piece of independent research, creating an academic research paper, presentation and methodological reflection. Because we believe experiential learning is so important, this project is only available to students with significant prior work experience or a desire to progress to a PhD.

For more information about semester three options please visit our Experiential Projects page.

Ongoing Learning

Throughout the year you will also study the following modules which will help you understand how to manage your own continuous personal and professional development (PPD).

Professional Practice (10 credits)

The purpose of the module is to increase understanding of how to manage your own continuous personal and professional development in order to enable sustained career success and to enhance your business acumen.  Personal and professional development in this context involves providing you with academic tools and experiential opportunities to expand your horizons and challenge your actions, attitudes and behaviours.

Research Methods for Economists (10 credits)

The aim of this module is to develop students as effective researchers in different contexts within the subject area of economics.

Placement Diploma in Industrial Experience (2 year course only)

This module aims to develop your understanding of the business and commercial environment. You will apply relevant prior knowledge and skills in the business environment increasing your commercial awareness. On completion of the module, you will have developed a range of skills and have a practical insight into the world of work and possible career opportunities.

If you opt for the two year route you can add a year’s work placement onto your course. It’s a great way to put your learning into practice and gain valuable real-world experience to help boost your career prospects once graduating.

Your placement year will last up to 48 weeks (minimum 36 weeks). If you are unable to take a full year's placement, but have completed the minimum 36 weeks you can qualify for a Placement Diploma in Industrial Experience. If you undertake a placement, you must take up the Business Research Project in Semester Three.

Please note that placements are not guaranteed and you will need to work hard in securing one during your first semester. We have a dedicated Employability team who are here to help and support you during the placement process with CV writing, creating a LinkedIn page, interview tips, where to search for a placement etc. You can visit the Employability team’s page for further information.

Placements are only available for students beginning their studies in September.

Please contact us through Ask NTU if you have any questions about securing placements.

As an MSc Economics student, you will benefit from a membership with the Society of Professional Economists. The Society of Professional Economists (SPE) is the leading organisation serving professional economists in the UK. The SPE has more than 650 members, drawn from all areas of the profession including finance and commerce, industry, government departments, private sector consultants, business schools and universities.

By becoming a member you will gain access to a wide network of professional economists, providing an excellent means of establishing contact with other leading economists in your own field and in other areas. This network is not confined to the UK; the Society has overseas members and links with similar associations in other countries in Western Europe and in North America.

Don’t just take our word for it, hear from our students themselves

Student Profiles

Emmanuel Ferguson Aikins

Economics

The MSc Economics degree gave me in-depth knowledge, understanding and the key soft skills expected of a graduate and readily prepared me for the business world.

Farida Hammanjoda

Economics

Nottingham Business School provides the applied consultancy project, which is a key part of the program and this is what makes NBS unique from other business schools.

Sangjat Dakok

The MSc Economics degree exposed me to the use of software and its importance for economic planning and modelling purposes.

How you’re taught

Teaching and Learning

Nottingham Business School adopts a distinctive approach to the design of student learning opportunities. Your learning is structured around theory, practice, experience & observation, and reflection & improvement. At each level (course, module and session), you will study different theories, concepts and approaches and be given opportunities to apply these in a range of practical settings. The aim is to enhance your understanding through the direct experience of business, where you will have opportunities to observe business practices and behaviours (including your own) and analyse these using theoretical knowledge. It is our intention that by reflecting on these experiences, you will be able to use these theories to guide your actions and decisions in a business context or even consider how a theory itself might be improved. In this way, we aim to enhance the quality of your learning.

Academic Mentors

Every postgraduate student will be allocated an Academic Mentor at the beginning of the academic year and you will meet with them regularly throughout the year. Academic Mentors help you make the most of your time at NTU. They will support you in developing and enhancing the qualities and transferrable skills necessary for your studies, career progression, professional and personal development.

Assessments

A range of assessment methods are used across the course, the choice of which reflects the needs and demands of the different types of module. Some modules will assess the ability to work collaboratively in a team and others will assess individual capability. Types of assessment will range from examinations to group presentations including essays, reports, financial analyses, literature reviews and research based projects.

The interactive nature of the taught sessions offers opportunities to gain feedback on your performance before being formally assessed and increasing use is made of eLearning to further support the feedback process.

In-sessional English language support

In-sessional English language classes are offered to international students at no extra cost. The classes aim to provide focused support in the skills you need in order to develop your English in your subject area.

Further information please contact the Nottingham Language Centre based in the DICE building on City Campus:

Tel: +44 (0)115 848 6156 | Email: englishsupport@ntu.ac.uk | Website: www.ntu.ac.uk/nlc

Personalisation

We know our postgraduate students are a diverse group, with different levels of academic knowledge in their chosen area of study, different cultural and educational backgrounds, and varying levels of personal and professional skills and competencies.

At NBS we strive to ensure that these two motivating factors are nurtured and therefore supported. Our students are encouraged to practice and develop the skills and competencies required to critically reflect on their learning, and on their ability to apply this learning to their studies and to real world complex issues within the workplace. Through a series of curricula and extra-curricular initiatives, strengthened by tailored academic mentor support, NBS provides all our postgraduate students with the ability to participate in a range of challenging and unique activities, projects, events and experiences to enable our students to succeed in a competitive and dynamic global environment.

Staff Profiles

Piers Thompson

Professor

Nottingham Business School

Piers Thompson is a Professor in the Department of Economics.

Dimitrios Bakas

Associate Professor

Nottingham Business School

Dimitrios joined the University in September 2015. He holds a PhD in Economics and an MPhil in Economics from the National and Kapodistrian University of Athens, Greece and an MSc…

Marie Stack

Senior Lecturer

Nottingham Business School

Marie is a Lecturer in the Division of Economics.

Robert Ackrill

Professor

Nottingham Business School

Robert is Professor of European Economics and Policy in the Department of Economics, Nottingham Business School and has been at NTU for nearly 20 years.

Careers and employability

At Nottingham Business School, we’re focused on your employability from the start of your postgraduate degree. We provide you with a learning experience that integrates theory and practice.

Graduates from this course have gone onto roles within the public, private and third sector, undertaking positions such as:

  • Consultant
  • Economic Researcher
  • Investor Relations Manager
  • Banking Supervisor
  • Financial Analyst

Employability Team

We have a dedicated Employability Team who not only help you during your time with us but also following graduation, they’ll continue to support you by providing a number of services that will help kick-start your career.

Our Employability Team offer a wide range of support from one-to-one appointments with our specially trained consultants, to arranging recruitment fairs and skill building workshops.

Services they provide include:

  • Finding placements, internships and part-time work
  • Helping you to pursue self-employment
  • Advice on taking gap years and time out
  • Information and help on getting into volunteering
  • Providing advice on further study.

As a student you will have access to our virtual learning environment, where you will be able to get in touch with our Employability team for CV support, application, interview and job hunting advice, career ideas and employer videos.

You can visit the Employability Team on your local campus every day during term time. They are also open outside of term time too, except on University closure days. So drop in, say hello, and get help with quick enquiries or book an appointment with a careers consultant from your school.

Re:search Re:imagined

To us, research is about more than writing papers and proposing new ideas. By daring to think differently, we’re disrupting the research landscape and finding the answers to the questions that really matter. From ethics, innovation and entrepreneurship to behavioural science, we’re inspiring the brightest minds to rise up and find solutions to some of the most significant global challenges facing society.

Find out more: ntu.ac.uk/research

Campus and facilities

We are continually investing in our facilities, and transforming our learning and teaching environment to create an inspiring and innovative atmosphere.

The School is based in the impressive Newton Building on NTU's City site. In 2009 the building was involved in a £90 million regeneration project on the site. Whilst maintaining its historic beauty, the Grade II listed building was transformed into an ultra-modern complex.

Dryden Centre

A short walk from the Newton building and Boots library, the Dryden Centre facilitates on-campus teaching for Nottingham Business School’s postgraduate and executive education courses. Benefit from the newly built NTU Dryden Enterprise Centre next door that provides dedicated support for entrepreneurs, start-ups, small and medium-sized enterprises.

Fantastic facilities

  • You can take advantage of the Link Lounge, a space dedicated to Business School students, located on floor seven of the Newton building.
  • Explore your career prospects with the help of the University's Employability Team.
  • You will benefit from spacious teaching rooms and lecture theatres.
  • We provide students with a variety of social spaces.
  • Your studies will benefit from the £13 million Boots Library.
  • You can take advantage of our 24-hour IT facilities.
  • Our Student Services Centre will also be on-hand should you need support.
  • The location of the City site also means that you have easy access to:

  • sports facilities
  • shops
  • student accommodation
  • music venues
  • cafés.

Entry requirements

  • You will need an undergraduate degree equivalent to a UK undergraduate honours degree (2.2 or above) in one of the following fields: economics, business, management, finance or another social science-related subject (containing quantitative methods at level 1 as a minimum), or a quantitatively-based subject such as science, engineering or maths.
  • All applicants will be required to demonstrate a commitment to the subject they wish to study and should demonstrate how their chosen programme of study will benefit them in their future career.
  • One academic reference is required.

Get in touch If you need any more help or information, please contact us at Ask NTU or call on +44 (0)115 848 4200.

NTU may admit a student with advanced standing beyond the beginning of a course, through an assessment of that student's prior learning, whether it is certificated or uncertificated. Our Recognition of Prior Learning and Credit Transfer Policy outlines the process and options available to these prospective students, such as recognising experiential learning or transferring to a similar course at another institution, otherwise known as credit transfer.

All prospective students who wish to apply via Recognition of Prior Learning should initially contact the central Admissions and Enquiries Team who will be able to support you through the process.

One year course

  • You will need an undergraduate degree equivalent to a UK undergraduate honours degree (2.2 or above) containing some evidence of quantitative ability.
  • All applicants will be required to demonstrate a commitment to the subject they wish to study and should demonstrate how their chosen programme of study will benefit them in their future career.
  • One academic reference is required.

Two years with placement

  • You will need an undergraduate degree equivalent to a UK undergraduate honours degree (2.1 or above) containing some evidence of quantitative ability.
  • All applicants will be required to demonstrate a commitment to the subject they wish to study and should demonstrate how their chosen programme of study will benefit them in their future career.
  • One academic reference is required.

International qualifications

We accept qualifications from all over the world – check yours here:

Postgraduate preparation courses (Pre-Masters)

If you don’t yet meet our entry requirements, we offer Pre-Masters courses through our partner Nottingham Trent International College (NTIC), based on our City Campus:

English language entry requirements

You can meet our language requirements by successfully completing our pre-sessional English course for an agreed length of time, or by submitting the required grade in one of our accepted English language tests, such as IELTS:

Would you like some advice on your study plans?

Our international teams are highly experienced in answering queries from students all over the world. We also have members of staff based in Vietnam, China, India and Nigeria and work with a worldwide network of education counsellors.

Fees and funding

The tuition fees below are the fees for courses starting between September 2022 and August 2023 entry. Fees for September 2023 are to be confirmed.

Home fees for September 2022 entry

Study route

Home fees

One year (full-time)

£11,000

Two years (placement year)*

£12,385 (£11,000 in Year One and £1,385 in Year Two)

*Please note that if you are considering a course that runs over more than one year, the tuition fee stated is for the first year of study. The course fee for the second year may be subject to annual review.

Additional costs

Your course fees cover the cost of studies, and include loads of great benefits, such as the use of our City Campus library, support from our expert Employability team, and free use of the IT equipment across our campuses.

You may choose to purchase core text books for your course, and prices for these may vary. However, our library is home to four floors of books, journals and materials (many of which you can access online) – meaning you may not need to purchase as many books as you might think!

Whilst on placement students will be expected to pay for accommodation, travel and living costs.

Funding your studies

Preparing for the financial side of student life is important, but there’s no need to feel anxious and confused about it. We hope that our fees and living costs page and funding pages will answer your questions.

Postgraduate loans

The government introduced a new postgraduate loan scheme for Master degrees. The loan will be a contribution towards the costs of study and it will be at the student's discretion to use the loan towards fees, maintenance costs or other costs. Find out more on our postgraduate loans page.

Scholarships

You might be able to get a scholarship to help fund your studies. We award scholarships to those students who can demonstrate excellent achievement, passion and dedication to their studies.

Alumni Discount

We’re happy to be able to offer a 20% alumni discount to most current NTU students and recent NTU alumni. This discount is currently available for those starting an eligible postgraduate taught, postgraduate research or professional course.

Getting in touch

For more advice and guidance, you can contact our Student Financial Support Service on Tel: +44 (0)115 848 2494 or for Scholarship help please contact us on Tel: +44 (0)115 848 4460.

The tuition fees below are the fees for courses starting between September 2022 and August 2023 entry. Fees for September 2023 are to be confirmed.

International / EU fees for September 2022 entry

Study route

International / EU fees

One year (full-time)

£18,000

Two years (placement year)*

£19,385 (£18,000 in Year One and £1,385 in Year Two)

*Please note that if you are considering a course that runs over more than one year, the tuition fee stated is for the first year of study.

Tuition fees are payable for each year that you are at the University. The level of tuition fees for the second and subsequent years of your postgraduate course may increase in line with inflation and as specified by the UK government.

Scholarships

We offer scholarships of up to 50% of your tuition fee. You can apply for your scholarship when you have an offer to study at NTU.

Living costs

Get advice on the cost of living as an international student in Nottingham and how to budget:

Paying fees

Find out about advanced payments, instalment plan options and how to make payments securely to the University:

Would you like some advice on your study plans?

Our international teams are highly experienced in answering queries from students all over the world. We also have members of staff based in Vietnam, China, India and Nigeria and work with a worldwide network of education counsellors.

Additional Costs

Your course fees cover the cost of studies, and include loads of great benefits, such as the use of our library, support from our expert Employability team, and free use of the IT equipment across our campuses.

Library books

Most study modules will recommend one or more core text books, which most students choose to purchase. Book costs vary and further information is available in the University’s bookshop. Our libraries provide a good supply of essential text books, journals and materials (many of which you can access online) – meaning you may not need to purchase as many books as you might think! There may also be a supply of second-hand books available for purchase from previous year students.

Field trips

All essential field trip costs will be included in your course fees. There may be the opportunity to take part in optional field trips, which do incur additional costs.

Placement

Whilst on placement students will be expected to pay for accommodation, travel and living costs.

Print and copy costs

The University allocates an annual printing and copying allowance of £20 depending on the course you are studying. For more details about costs for additional print and copying required over and above the annual allowance please see the Printing, photocopying and scanning information on the Library website.

How to apply

Ready to join us? Apply through our NTU Applicant Portal.

  1. Register as a new applicant and create an account in the Applicant Portal - don't worry you won't need to complete your application at once, you can come back to it so keep your details safe.
  2. Fill out and submit your application - make sure to check all the information such as entry requirements before submitting.
  3. Track the progress of your application – you can do this by logging into the Application Portal.
  4. Check your offer – As long as you’ve provided all the information we need, we’ll try and make a decision on your application within five to ten working days. However, this can take longer and you should allow at least three weeks for a decision.
  5. Accept your offer within four weeks - Remember that competition for places is high, and if you don’t accept your offer within four weeks it may lapse. After eight weeks it will be automatically withdrawn.
  6. Meet the conditions of your offer (if you have any) - Upload all the documents required to meet the conditions of your offer using the My Documents section of the Applicant Portal.

Don’t worry if you’re waiting for results – we recommend applying now, and then adding them to your Application Portal once they arrive.

If you need some help in writing your application you can view our handy tips.

Good luck with your application!

Ready to join us? Apply through our NTU Applicant Portal.

  1. Register as a new applicant and create an account using our Applicant Portal - don't worry you won't need to complete your application at once, you can come back to it so keep your details safe.
  2. Fill out and submit your application - make sure to check all the information such as entry requirements before submitting.
  3. Track the progress of your application – you can do this by logging into the Application Portal.
  4. Check your offer – As long as you’ve provided all the information we need, we’ll try and make a decision on your application within five to ten working days. However, this can take longer and you should allow at least three weeks for a decision.
  5. Accept your offer within four weeks - Remember that competition for places is high, and if you don’t accept your offer within four weeks it may lapse. After eight weeks it will be automatically withdrawn.
  6. Meet the conditions of your offer (if you have any) - Upload all the documents required to meet the conditions of your offer using the My Documents section of the Applicant Portal.

Don’t worry if you’re waiting for results – we recommend applying now, and then adding them to your Application Portal once they arrive.

If you need some help in writing your application you can view our handy tips.

For advice on applying for a visa please visit our visa information page.

Good luck with your application!

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