Masters in Economics in UK is an intensive postgraduate course that lasts for one year. There are more than 55 universities offering masters in Economics in UK. The top universities in UK for masters in economics deal with major sections like microeconomics, macroeconomics and many more. Candidates must have 60-70% grades in UG to attain economics masters in UK top universities. The tuition fees of the top universities in UK for masters in economics vary from 18,000 GBP to 34,000 GBP (INR 18,44,312-34,83,701). International aspirants need to meet the IELTS and TOEFL score requirements to apply for Masters in Economics in UK universities. Candidates get wide career opportunities after pursuing their economics masters courses in the UK. The average annual salary of the graduates of Masters in Economics in UK is 38,000 GBP (INR 38,93,548).
Table of Content
- Why Study Masters in Economics in UK?
- Top Universities in UK for Masters in Economics
- Admission Process for Masters in Economics in UK
3.2 Eligibility Criteria for Masters in Economics in UK
Why Study Masters in Economics in UK?
- UK is the home to some of the world's most prestigious institutions to offer masters in economics.
- Students who study at a top-ranked institution have access to world-class academics, cutting-edge research facilities, and a dynamic intellectual community.
- Faculties for economics masters in UK universities are actively involved in undertaking research that advances economic theory and influences policy choices.
- UK is a worldwide centre for banking, business, and policymaking. This enables economics students to gain practical experience through internships, placements or part-time jobs.
- Students studying economics in UK will get the opportunity to interact with individuals from all backgrounds and learn about various economic systems and models.
- Studying economics in the UK opens doors to a variety of professional prospects. Economic graduates in UK are in great demand by companies in banking, government, international organisations, and other fields.
Top Universities in UK for Masters in Economics
Masters in Economics in UK universities offers various courses in economics for students. The table below highlights the tuition fees and the top universities in UK for masters in Economics:
| Name of University | Course Offered | Tuition Fees |
|---|---|---|
| Imperial College London | MSc Economics and Strategy for Business | 34,400 GBP (INR 35,23,112) |
| London School of Economics and Political Science | MSc Economics | 34,128 GBP (INR 34,92,923) |
| University of Manchester | MSc in Economics | M.A in Economics | 28,500 GBP (INR 29,16,673) |
| University of Bristol | MSc Economics | 22,700 GBP (INR 23,23,104) |
| University of Warwick | MSc in Economics and International Financial Economics | 27,930 GBP (INR 28,58,339) |
| Cardiff University | MSc Economics | 22,700 GBP (INR 23,23,104) |
| Queen’s University Belfast | MSc Economics | 17,900 GBP (INR 18,32,147) |
| University of Sussex | MSc International Business Economics | 20,950 GBP (INR 21,44,328) |
| Heriot-Watt University | MSc in Economics, Banking, and Finance | 18,520 GBP (INR 18,95,607) |
| University of Kent | MSc in Economics and Econometrics | 18,600 GBP (INR 19,04,205) |
| Swansea University | MSc in Economics | 19,950 GBP (INR 20,42,772) |
Note: 1 GBP = 102.55 INR (as dated 24/05/2023)
Admission Process for Masters in Economics in UK
To complete the admissions process, candidates must have all of the essential documentation. The measures to take throughout the admissions process are as follows:
- Check the university's official website to check the program's eligibility requirements.
- Fill up the online application and pay the application cost.
- Check the documents and permits for application.
- Login to the portal after submitting the application.
- Collect all of the documents to apply for a UK study permit.
- Appear for the entrance exam of the university.
- After confirmation of the acceptance letter, apply for UK student visa.
Admission Deadline
The admission deadline for the top universities for Masters in Economics in UK is as follows:
| Name of University | Admission Deadlines |
|---|---|
| Imperial College London | Rolling Basis |
| London School of Economics and Political Science | Rolling |
| University of Manchester | July 1, 2023 |
| University of Bristol | July 31, 2023 |
| University of Warwick | March 3, 2023 (Closed) |
| Cardiff University | Rolling |
| Queen’s University Belfast | Rolling |
| University of Sussex | August 1, 2023 |
| Heriot-Watt University | August 1, 2023 |
| University of Kent | July 31, 2023 |
| Swansea University | Yet to be announced |
Eligibility Criteria for Masters in Economics in UK
To be eligible for economics masters in UK, the applicant must meet the following requirements:
- Bachelor's degree in Economics or related field with a minimum of 2:1 honours or 60%.
- TOEFL score range of 90 - 100 is required.
- PTE score range of 62 - 73 is required.
- IELTS score range of 6.5 - 7.0 is required.
- GMAT score range from 600-650 is required.
- GRE scores range from 130 - 170 in verbal and quantitative sections.
- 3-4 years of work experience can add extra value.
University-wise Admission Requirement
Candidates must be aware of Masters in Economics in UK requirements for admission to preferred universities. Here detailed below are the admission requirements of the best universities for Masters in Economics UK:
| Name of University | Admission Requirement |
|---|---|
| Imperial College London | IELTS: 7.0 TOEFL: 100 |
| London School of Economics and Political Science | IELTS: 7.0 TOEFL: 100 |
| University of Manchester | IELTS: 5.5 TOEFL: 72 |
| University of Bristol | IELTS: 6.5 TOEFL: 90 |
| University of Warwick | IELTS: 6.5-8.0 TOEFL: 92 |
| Cardiff University | IELTS: 6.5-7.5 TOEFL: 90-109 |
| Queen’s University Belfast | IELTS: 6.0-7.0 TOEFL: 80 |
| University of Sussex | IELTS: 6.0-7.0 TOEFL: 80 |
| Heriot-Watt University | IELTS: 6.0-6.5 TOEFL: 70 |
| University of Kent | IELTS: 6.5 TOEFL: 85-114 |
| Swansea University | IELTS: 6.0-6.5 TOEFL: 570 |
Admission Documents Requirement
The documents required for admission to the best universities in UK for economics masters are as follows:
- Academic transcripts of previously attended institutions.
- LOR
- Updated CV or Resume
- TOEFL/IELTS score cards
- Statement of Purpose
- GMAT/GRE score cards
- Work experience certificate
- Valid Passport
- Current Photographs (passport size)
- Student Visa for the United Kingdom
Masters in Economics in UK Cost
Candidates must consider the cost of living for studying in the best universities in UK for masters in economics. The cost of living in UK is tabulated below:
| Expense Type | Average Annual Expense |
|---|---|
| Accommodation | 7,200 GBP (INR 7,36,407) |
| Meals | 2,400 GBP (INR 2,45,469) |
| Transportation | 780 GBP (INR 79,777) |
| Utilities | 2,220 GBP (INR 2,27,059) |
| Personal Expenses | 1,500 GBP (INR 1,53,422) |
Note: 1 GBP = 102.55 INR (as dated 24/05/2023)
Masters in Economics in UK Scholarships
There are various scholarships for Masters in Economics in UK for Indian students to assist in bearing the expense. The scholarships offered by the best universities for masters in economics UK are tabulated below:
| University Name | Scholarships offered | Award Granted |
|---|---|---|
| Heriot-Watt University | Postgraduate Merit Award | 1500-3000 GBP (INR 1,53,399-3,06,798) |
| Imperial College London | GREAT scholarship | 10,000 GBP (INR 10,22,663) |
| Swansea University | MBA Centenary Scholarship 2020 | 20,000 GBP (INR 20,45,326) |
| University of Sussex | Chancellor’s International Business Scholarship 2020 | 5,000 to 7,500 (INR 5,11,331-7,66,997) |
| Cardiff University | Vice Chancellor’s International Scholarship | 2,000 GBP (INR 2,04,532) |
| Queen’s University Belfast | Queen’s Loyalty Scholarship | 20% tuition fee discount for 1 year |
| University of Kent | British Council Scholarship | 10,000 GBP (INR 10,22,663) |
Note: 1 GBP = 102.55 INR (as dated 24/05/2023)
Jobs after Masters in Economics in UK
The university in the UK for Masters in Economics offers various types of job profiles to candidates with a high package salary. Here cited below are certain job roles of the candidates attained Masters in Economics in UK universities:
| Job Title | Average Salary |
|---|---|
| Economist | 31,190 GBP (INR 31,89,470) |
| Data Analyst | 30,868 GBP (INR 31,56,543) |
| Economic Analyst | 37,955 GBP (INR 38,81,255) |
| Credit Risk Manager | 76,022 GBP (INR 77,73,964) |
| Investment Analyst | 34,809 GBP (INR 35,59,518) |
| Marketing Analyst | 32,189 GBP (INR 32,91,641) |
| Demand Planner | 28,607 GBP (INR 29,25,346) |
Note: 1 GBP = 102.55 INR (as dated 24/05/2023)
Top Recruiters for Masters in Economics in UK
The top recruiters for the top universities for Masters in Economics in UK are listed below:
- Barclays Bank PLC
- Barclays Capital Inc
- Frontier Economics
- Reed Business Information
- European Central Bank
- Deloitte
- KPMG
- World Trade Organisation
Work Permit
International aspirants are required to apply for Tier 4 (General) student visa for pursuing courses in UK. This visa gives permit to students to attain their higher studies for more than six months. For applying for the student visa, candidates need to pay 363 GBP (INR 38,128). Candidates must fulfil certain criteria to be eligible for this visa:
- Evidence of offer letter for pursuing a full-time course from UK university.
- Proof of sufficient funds.
- English language proficiency test score results.
- Candidates must be 16 or 17 years old.
ROI for the top colleges providing the Masters in Economics in UK
The ROI of the top colleges for Masters in Economics in UK is tabulated below:
| University Name | Annual Tuition Fees | Cost of Living | Total Expense | Annual Salary | ROI |
|---|---|---|---|---|---|
| Imperial College London | 34,400 GBP (INR 35,23,112) | 14,100 GBP (INR 14,41,530) | 48,500 GBP (INR 49,58,194) | 38,000 GBP (INR 38,93,548) | 78% |
| London School of Economics and Political Science | 34,128 GBP (INR 34,92,923) | 48,228 GBP (INR 49,29,251) | 78% | ||
| University of Manchester | 28,500 GBP (INR 29,16,673) | 42,600 GBP (INR 43,55,032) | 89% | ||
| University of Bristol | 22,700 GBP (INR 23,23,104) | 36,800 GBP (INR 37,62,093) | 103% |
Note: 1 GBP = 102.55 INR (as dated 24/05/2023)
Candidates must choose the best universities for Masters in Economics UK to get an effective learning experience. The top universities in the UK provide students with wide career opportunities and high salary packages. Candidates can attain scholarships for bearing the expense of living in UK for pursuing economic masters.
FAQs
Ques. How much does it cost to get a masters in economics in the UK?
Ans. The tuition fees of the top universities in UK for masters in economics vary from 18,000 GBP to 34,000 GBP (INR 18,44,312-34,83,701).
Ques. What is the scope of Masters in Economics in UK?
Ans. Candidates get various job roles like Economist, Data Analyst, Economic Analyst, Credit Risk Manager etc after completing MA Economics in UK.
Ques. Which UK universities offer Masters in Economics?
Ans. The top universities that offer Master in Economics in UK are Imperial College London, University of Manchester and many more.
Ques. How can I get admission in masters in economics in UK?
Ans. Candidates need a bachelor's degree in Economics or related field with a minimum of 2:1 honours or 60% to attain masters in economics in UK.
Ques. How long is Masters in Economics in UK?
Ans. Masters in Economics in UK is an intensive postgraduate course that lasts for one year.
Ques. What is the highest salary after Masters in Economics in UK?
Ans. The average annual salary of the graduates of Masters in Economics in UK is 38,000 GBP (INR 38,93,548).
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