Economics MSc Scottish Graduate Programme

Masters Economics Degree

www.econ.stir.ac.uk

Scotland has a long and distinguished history in economics dating back to Adam Smith and David Hume. This tradition is continued in the Scottish Graduate Programme in Economics, a unique collaborative venture that combines the research and teaching expertise of the Economics departments of eight Scottish universities. The Scottish Graduate Programme comprises an MSc (Master’s) programme and optionally up to three years’ further study towards a PhD (Doctorate) at any of the participating universities.

Programme Objectives

This MSc provides you with a high quality and thorough training in economics and furnishes you with all the skills of the modern professional economist.

Entrance Requirements

Entry requirements are normally a good upper second class Honours degree in economics, or equivalent.

English Language Requirements

If English is not your first language, you must provide evidence of your proficiency such as a minimum IELTS score of 6.5 (minimum 6 in each skill) or TOEFL 580/237/92 (Paper/Computer/Internet).

Funding

The Graduate Programme has 1+3 (part-time and full-time) recognition from the Economic and Social Research Council (ESRC) and has some ESRC quota places available. The Scottish Economic Society also funds several studentships each year.

For information on other possible sources of funding, visit: www.stir.ac.uk/postgrad/finance

Modes of Study

Full-time: 1 year

Part-time: 2 years

Programme Start Date

September

Programme Directors

Professor M Schaffer, Heriot-Watt University
Professor A Snell, University of Edinburgh

Economics Division

The Economics Division is part of the Stirling Management School.

Structure and Content

The MSc programme comprises:

Preliminary modules (mid-September to early October).

• Maths: The main objectives of the maths module is to refresh knowledge in mathematical economics, to establish a common basic standard and to facilitate progress to the core courses.
• Econometrics: This module furnishes you with the basic skills of probability, statistics and matrix algebra, including the use of the computer package MicroFit, which will be required for the compulsory Quantitative Methods module.

Three core modules (October to February).

• Microeconomics: This module has been designed to meet two main objectives: first to ensure that you are familiar with the core elements of microeconomic theory which forms the basis for advanced work in fields such as industrial economics, labour economics; and secondly, to introduce you to a number of topics in applied microeconomics so as to identify and explore the issues and problems which arise in making the transition from theoretical models to empirical and other applied work founded on microeconomic analysis.
• Macroeconomics: This module covers the major areas of modern macroeconomics theory. The emphasis is on understanding different theoretical approaches and their relevance to macroeconomics policy. By the end of the module you should be able to derive and manipulate a number of key theoretical models.
• Quantitative Methods: This module provides training in econometric methods, to enable you to assess critically applied work and to use econometric techniques in PhD work or in employment as an economist. The programme also includes a substantial amount of applied econometrics, based in the computer laboratory, working principally on macroeconomic applications of time series analysis, with an empirical project at the end.
• Residential methodology weekend (January): This introduces methodological issues such as refutation and confirmation of scientific theories, realism and economics, and alternative approaches to econometric methodology and research practice. You also learn about survey and interviewing techniques. MSc students will also be able to attend presentations by current PhD students on the Scottish Graduate Programme. This gives those MSc students intending to do a PhD exposure to the challenges involved in actual economic research. The conference is usually held in the Scottish Highlands or the Scottish Borders.

Three option modules (February to April) chosen from:

• Advanced topics in Macroeconomics
• Advanced topics in Microeconomics
• Advanced topics in Quantitative Methods
• Asset Pricing
• Corporate Finance
• Development Economics
• Development of Economic Thought and Methodology
• Economics of the Labour Market
• Economic Policy
• Economics of Transition
• Environmental and Natural Resource Economics
• Health Economics
• Industrial Organisation
• International Money and Finance
• International Trade

Dissertation: To be handed in by August.

Delivery and Assessment

The MSc is part of the Scottish Graduate Programme in Economics. It is taught at the University of Edinburgh by selected staff from Stirling and the seven other Scottish universities.

At the end of your programme, you will sit six examinations and write a long essay in order to obtain the MSc degree. The Master’s programme also forms the compulsory year of coursework and research training for the doctoral component. All students intending to study for the PhD are required to take the Master’s programme in their first year and be examined on the same basis as those studying for the MSc. In order to proceed to the doctoral component, you must obtain a good pass in the MSc examinations.

Timetable

Contact the Division for information on your timetable and reading lists.

Career Opportunities

Students graduating from this programme have a superb employment record in universities, national and international governmental organisations, financial institutions and other areas of business and commerce.

Research Opportunities

We have research interests in the following broad areas – Money, Banking and Finance, Environmental Economics, Work and Wellbeing and Methodology and Economic Thought. Much of this research is collaborative with other disciplines at Stirling and with economists at other Scottish universities through the programmes of the Scottish Institute for Research in Economics (SIRE). A lively research culture is fostered by weekly workshops at which staff and research students present their work, and seminars held by visiting speakers. Working papers are published in the Stirling Economics Discussion Paper series.

For more information on the Division’s research interests, visit: www.economics.stir.ac.uk/research

Research Proposal

Research proposals, focusing on topics which fall into the areas of research expertise of current staff in the School, should include the following: executive summary, importance of the proposed research, prior relevant research and literature review, research questions and
methodology, any limitations or particular requirements for the research.

The specific word limit for Economics research proposals is 1,500 words.

RAE Rating

The UK-wide Research Assessment Exercise (RAE) confirmed the quality of the work being done by our researchers. 85% of the University of Stirling’s research has been judged to be internationally excellent and internationally recognised, with the top 10% of that judged to be world class.

View the full outcomes of Stirling’s RAE performance

The administrating institution for the Economics MSc programme is currently the University of Edinburgh. From mid-October 2008, the University of Edinburgh will operate an online application process for all postgraduate programmes. To apply for the MSc in Economics (Scottish Graduate programme) see:
www.ed.ac.uk/studying/postgraduate/finder/details.php?id=272

For further information:
Email: msc@business-school.ed.ac.uk
Telephone: +44 (0)131 650 8080