Masters in Economics in UK: Fees, Top Colleges, Placements & Salaries

Master in Economics in UK is a 1-year postgraduate program that teaches you how to analyze data on the production of goods and resources. MS in Economics in UK is available in 55+ top universities, which usually demand a bachelor’s degree with a minimum overall aggregate of 60-70% to be eligible for admission.

• Within six months of graduation, 65% of UK MSC financial economics UK graduates are employed and the majority of these end up in top jobs in the UK, such as business, finance, and marketing. 57% of available jobs are in the business, human resources, and financial sectors.
• The rate of employability of master's in economics in UK universities is 98% with the majority of the students getting employed within 3 months of course completion.
• Economics M.A. graduates can make use of their education in other disciplines like Accounting, Auditing, Insurance, Management, Advertising, Actuarial Science, and more.

You can explore job opportunities after MSC financial economics in UK as an Economist, Professor, Policy Analyst, Budget Analyst, Researcher, Data Scientist, or Statistician.The average annual salary for Master of Economics graduates in USA can be around 39,000 GBP (37.1 lakhs INR) for a fresher. With a 2-year study work UK visa, you can land jobs in companies like - Barclays Bank PLC, Barclays Capital Inc, Frontier Economics, Reed Business Information, and European Bank for Reconstruction.

Top Universities for Masters in Economics in UK

There are 59 colleges offering Masters in Economics in UK. Listed below are thebest universities for masters in economics UK along with the program offered and admission deadlines.

Apart from the above-mentioned programs, Oxford University offers an MS in Financial Economics, a nine-month full-time program through its Saïd Business School. London School of Economics and Political Science offers a variety of study programs at the graduate level which include Econometrics and Mathematical Economics, Economic History, etc. for students.

Why Study Masters in Economics in the UK?

• The UK has top universities for a Master’s degree in Economics namely Oxford University, University of Cambridge, London School of Economics and Political Science, etc.
• 65% of the Masters in Economics graduates in the UK are employed within six months after graduation (as per prospects.uk.ac). Most of these land in various top jobs in the UK such as business, finance, and marketing.
• In 2024, the annual unemployment rate of the UK is expected to be 4.4%, as compared to 3.9% in 2023.
• Business, HR, and financial sectors account for 57% of the jobs available. Given below is the distribution of graduates with economics masters in the UK among various sectors

Masters in Economics in UK: Eligibility Criteria

Interested applicants can complete their admission applications for Masters in Economics in the UK online through the respective university websites. Students who wish to pursue a Masters in Economics are required to fulfil both academic and English language proficiency requirements to secure a position with UK universities.

Eligibility for Masters in Economics in UK: To be eligible for a Masters's degree in Economics in UK, the applicant must fulfill the following eligibility criteria:

• A globally recognized bachelor's degree with a minimum 2:1 honors degree or 60% in Economics or a related subject
• Proof of English language proficiency:
  • TOEFL: 90–100
  • IELTS: 6.5–7.0
  • PTE: 62–73
• GRE test scores 130–170 in both the Verbal and Quantitative sections.

These are the basic masters in economics in UK requirements, you need to fulfill while entering the UK. Detailed below is a table specifying the requirements for pursuing Master in Economics at top UK universities:

Applicants must note that for most UK universities, you will be required to have an aggregate of 50-70% in bachelor’s degree and proof of language proficiency to get into a Master in Economics program. GRE scores may be required by some universities, but plenty of these offer admissions without GRE as well.

Documents Checklist:

• Undergraduate transcripts evaluated by certified agency
• English test scores of IELTS, TOEFL, or others
• GRE score report
• Statement of Purpose for UK
• 2 to 3 references from an employer or faculty
• CV or resume
• Passport copy
• UK Students Visa

Universities in UK with Placements for Masters in Economics

Many universities in UK offer placement opportunities in specific economic courses. Some of them are -

Masters in Economics Without an IELTS in UK

There are also some universities in UK that does not require IELTS to be eligible for applying to a master's program in Economics in UK.

Masters in Economics in UK: Cost of Studying

Studying abroad includes many expenses that international students need to pay. The cost of studying in the UK involves the tuition fees for that course, pre-arrival costs, and living costs.

Masters in Economics in UK: Tuition Fees

The cost of studying Master in Economics at the UK's top universities goes up from 17,000 GBP to 34,000 GBP (16.17 lakhs - 32.34 lakhs INR). You can either choose to study with these top Economics schools or look for alternatives like colleges offering cheaper Economics degrees. However, before looking for alternative schools, you must first invest your time in finding a scholarship that can help you graduate from any of these top universities.

Cost of Living in UK

The relatively high wages in the UK make the cost of living higher. Although living in the UK is expensive, in some areas it is affordable. A tabulated section is shown for the estimated cost of living in the UK for international students: