This exciting new programme offers both MSc and MA streams, as well as the opportunity for full-time students to undertake a 8-week internship. It has been designed to develop your ability to apply economic analysis to policy issues and business problems, which are often ambiguous and multi-faceted. Although the programme has a strong theoretical core, the focus is very much on the practical application of economic techniques to problems and developing the ability to communicate the insights that economic analysis can provide. It has been created in conjunction with the Government Economic Service (GES), the major employer of economics graduates in the UK. Indeed, the University of Westminster is the only English university to have secured GES recommended status for a postgraduate programme in economics.
You will normally have either a minimum Lower Second Class Honours first degree (or equivalent) which would be single Honours or a major in Economics, or a quantitative discipline with a minor in Economics, or a more general first degree (minimum Upper Second Class Honours or equivalent) with significant study of economics and quantitative methods. Exceptionally, non-graduates with extensive work experience in the economics or closely-related profession may also be considered.
The programme aims to provide you with an in-depth knowledge and understanding of the latest developments in economics, with a focus on practical skills and development of the skills needed by a working economist. It is specifically aimed at those with a genuine interest in the application of economics to real-world situations.
As well as enhancing your ability to apply relevant economic principles in the support of policy and strategy development, the course aims to develop your ability to communicate complex issues to wide audiences; your awareness of significant sources of economic and financial data; the problems faced when carrying out policy evaluation; and your capability for self-awareness and group working.
Economic Evaluation Project
This module provides you with the framework within which to develop your full project (dissertation) from the proposal submitted as part of the Research Methods module. The majority of projects undertaken by MSc students would be expected to involve an empirical component and appropriate quantitative analysis. Projects undertaken by MA students are likely to be of a more applied nature, possibly issue or problem-based.
Macroeconomic Analysis and Policy
This module reviews the historical evolution of macroeconomic policy and, through a review of the theoretical and empirical literature, develops the analytical framework of macroeconomics underpinning contemporary macroeconomic policy.
Microeconomic Analysis and Policy
You will review theoretical and empirical microeconomic approaches in order to shed light on business decision-making and microeconomic policy in mixed economies.
This module aims to enhance your knowledge and competence of the research process, and the application of research methods in the area of applied economics.
Strategy and Appraisal in Economics
This module applies the theoretical tools, concepts and methodology of economics to private and public sector scenarios, with an emphasis on communicating and appraising policy and strategy options.
Through this module you will cover a range of data analysis methods and concepts.
Economic Policy Perspectives
This module explores the theory of behavioural economics and its applications to public policy. It uses a theoretical framework, combining both social and private perspectives, to support decision making and understand the policy implications of the behavioural aspects of economic choices.
This module reviews the theoretical literature in this field and examines the central role that knowledge, entrepreneurship, technology and innovation play in supporting business expansion and shaping government economic policies.
Providing you with the techniques and critical insights needed to effectively analyse topics in labour economics, this module uses practical applications to explore the value and limitations of theory and empirics in the field.
As an economics postgraduate, you can look forward to excellent career prospects. Our students have gone on to successful careers in government and consultancy as economic analysts, regulatory economists and market analysts. The strong international focus of the course provides an excellent opportunity to develop the knowledge and skills to pursue a career in multinational companies or international organisations. Many graduates return to their countries of origin and are employed in developing international business opportunities or government institutions, while other graduates develop their careers with international charities or other nongovernmental organisations.
While this vocationally-oriented programme develops skills for devising and evaluating policies and strategies, rather than simply training academic economists, several of our recent graduates have also found that it has opened up opportunities for PhD study.
You will gain an understanding of the key concepts in economics that underpin public sector policy and business decision making. This includes the various scenarios where we explore opportunity cost, equilibrium and disequilibrium, strategic interaction, market failure and the related concept of externalities.
You’ll develop your analytical skills by applying these concepts to current challenges that face the profession, at both macro and micro levels, and in both private and public sectors. This will provide you with the latest insights drawn from both the academic and practitioner arenas.
Around a common core of modules covering key theoretical and practical elements, the MSc stream offers the possibility of pursuing a course of study in economics with a greater quantitative focus, while the MA stream has a stronger international emphasis.
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