MSc Economics and Public Policy modules

This course will enhance your knowledge of economics, with emphasis on public-sector economics and policy.

The MSc Economics and Public Policy combines a strong understanding of microeconomics, macroeconomics and econometrics, with detailed, specialist knowledge on public policy design, implementation and evaluation. It aims to give you the tools to analyse and evaluate public policy in fields such as education, health care provision, social security and taxation.


Microeconomic Analysis 

Microeconomics is concerned with the behaviour of individuals, households and firms, and their interactions. This module aims to develop the skills required for you to analyse microeconomic problems and theories. Provide an introduction to recent developments in advanced microeconomics. Develop your mathematical and analytical skills and further develop your skills of critical evaluation and appraisal in the context of advanced microeconomic theory.

Macroeconomic Analysis

This module aims to build a coherent microeconomics based framework for understanding macroeconomics and to analyse the aims of monetary policy in advanced economies, including the design of optimal monetary policy. It aims to provide students with an advanced understanding of fiscal policy, debt dynamics with references to sovereign debt crises and introduces students to the concept of financial frictions in the context of the recent financial crisis.

Econometric Methods

This modules aims to provide thorough grounding in econometric techniques of the classical linear regression model; hypothesis testing and problems of non-spherical disturbances; introduce students to topics in microeconometrics including modelling discrete binary variables, censoring and sample selection; introduce students to topics in macroeconometrics including economic forecasting, stationarity, and cointegration; enable students to grasp the essentials of regression output to allow them to access journal articles; develop experience of using specialist econometric software STATA.


Modern Theory of Banking & Finance

The aim of this module is to introduce you to concepts associated with money, financial institutions, monetary policy and the economy. Particular attention will be paid to the role of money and interest rates in the economy and how they are interconnected to determine monetary policy.

Health Economics

The aim of this module is to apply economic analysis to the market for health and health care and develop the skills required for the analysis of key issues in health economics.

Core modules

Applied Microeconometrics

Applied Microeconometrics builds on the skills provided in Econometric Methods in order to develop further your econometric skills, using examples from different areas of applied microeconomics.

Public Economics

The module provides you with a comprehensive grounding in public economics. Government policies, through fiscal policy instruments, can have a massive impact in the allocation of resources and the distribution of income in the economy.

This module evaluates the government’s ability to identify and achieve more efficient and equitable outcomes than the situation without intervention. Then it seeks to apply the theory in the analysis of real world public policy programmes, which might include fiscal redistribution, education and health.


One from 

Applied Macroeconometrics

The module aims to; enable you to understand recent applied literature in core journals of macroeconomics and finance which uses time series methods and prepare you for possible later research involving time series.

Asset Pricing

Asset Pricing aims to introduce you to advanced principles of derivative asset pricing in finance theory and to understand the use of derivatives in risk management.

Industrial Organisation

This module covers contemporary topics in Industrial Organisation (IO) with a particular emphasis on the role of economic analysis in strategic decision making by senior managers.

Monetary Economics

Monetary Economics aims: to provide a formal analysis of Monetary Economics and an understanding of how monetary policy works, to provide an understanding of the role of monetary policy in the macro economy, to expose students to the latest theoretical developments in monetary theory and policy, to equip students with the analytical framework for solving dynamic stochastic general equilibrium (DSGE) models, to understand some of the limitations of monetary policy.

Once you've successfully completed your taught modules, you will need to produce a dissertation of no longer than 10,000 words. The dissertation presents your research findings on an approved topic of your choice, which is related to the course and chosen in consultation with academic staff. Normally this involves the equivalent of at least ten weeks' full-time study. You must achieve a pass mark at the dissertation stage to be awarded an Masters.

During the second semester, we'll support you in developing a suitable and detailed proposal for your dissertation. The dissertation is then supervised through a series of research seminars and workshops. It tests your ability to apply the skills developed in the taught part of the programme to put together an original and academically critical and robust piece of research.

The content of our courses is reviewed annually to make sure it is up-to-date and relevant. Individual modules are occasionally updated or withdrawn. This is in response to discoveries through our world-leading research, funding changes, professional accreditation requirements, student or employer feedback, outcomes of reviews, and variations in staff or student numbers. In the event of any change we'll consult and inform students in good time and take reasonable steps to minimise disruption.

Information last updated: 4 August 2020

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