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Economic Policy and Analysis MSc

Different course options

Study mode

Full time

Duration

1 year

Start date

25-SEP-23

Key information
DATA SOURCE : IDP Connect

Qualification type

MSc - Master of Science

Subject areas

Economic Analysis Policy / Strategic Planning Economic Policy

Course type

Taught

Course Summary

Course summary

Economics is more relevant than ever to understand contemporary events in the global economy and provide the tools and techniques for business and governments to analyse and interpret the issues and problems they face. Reflecting the needs of both private and public sector employers, our highly practical MSc prepares you to assess business problems, interpret public policy and effectively communicate the insights that economic analysis can provide.

Aimed at those with a genuine interest in the application of economics to real-world situations, this course aims to provide you with an in-depth knowledge of the latest theories, practices and 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.

The focus is very much on developing the practical skills needed by a working economist – the ability to apply economic techniques to complex, multi-faceted business problems and provide specialist advice. You’ll gain hands-on experience of the industry-standard computing and econometrics software used to analyse and manipulate data.

Course structure

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.

Careers

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 non-governmental organisations. Several of our recent graduates have also found that the course opened opportunities for PhD study.

Modules

The focus of this module is on energy economics and, in particular, on the role of markets in driving energy policy and strategy in both the short and long term. It covers a variety of theoretical and empirical topics related to energy demand, energy supply and energy prices, the influence of fiscal instruments on market operation and the importance of banks and financial institutions for the funding of energy projects. The first half of the module will explore a number of key themes and conceptual issues. These will include: an analysis of the structure and operation of oil, gas, coal, electricity and renewables markets and issues of price discovery, carbon trading, green taxes and subsidies; the role of banks and alternative sources of financing for oil and gas projects; an exploration of approaches to modelling and forecasting the supply, demand and price of energy and energy derivatives. The second half of the module will have a practical focus, with sessions led by guest speakers drawn from a range of energy companies, renewables firms or from policy ?think-tanks?. These will take the form of short participative workshops exploring case studies on energy strategy and sustainability.

Tuition fees

UK fees
Course fees for UK students

For this course (per year)

7,500

International fees
Course fees for EU and international students

For this course (per year)

14,000

Entry requirements

A minimum of a lower second class honours degree (2:2). Relevant degree, 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.

University information

The University of Westminster (UoW) is a truly global university, having one of the most diverse student bodies in all of the UK; of the 19,000 undergraduate and postgraduate students enrolled, over 160 different countries are represented. And it’s no surprise, since this is a university where students can achieve anything they want to. There is no set template for learning – postgraduate students are able to forge their own path, learn in an...more