Structure and Content
The MSc programme has five main elements:
Preliminary Modules in Maths and Econometrics (mid-September to early October): The main objectives of the maths module are to refresh knowledge in mathematical economics, to establish a common basic standard and to facilitate the start to the core courses in macro and microeconomics.
The Econometrics 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 course.
Three core modules in Microeconomics, Macroeconomics, and Quantitative Methods (October to February): The Microeconomics 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, etc. 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.
The Macroeconomics 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 programme you should be able to derive and manipulate a number of key theoretical models.
The Quantitative Methods module provides a thorough training in econometric methods, to enable you to assess critically applied work and to use econometric techniques in PhD work or in employment as economists. 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 weekend conference 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 have the opportunity to attend presentations by current PhD students on the Scottish Graduate Programme. This gives those MSc students intending to do a PhD exposure to some of the issues and challenges involved in actual economic research. The conference is usually held in the Scottish Highlands or the Scottish Borders, in venues set in some of the most beautiful countryside in Scotland.
Three option modules (February to May):
* These are chosen from:
* Advanced topics in Macroeconomics
* Advanced topics in Microeconomics
* Advanced topics in Quantitative Methods
* Development Economics
* Development of Economic Thought and Methodology
* Economics of the Labour Market
* Economic Policy
* Economics of Transition
* Environmental and Natural Resource Economics
* Financial Economics
* Health Economics
* Industrial Organisation
* International Money and Finance
* International Trade
Dissertation: to be handed in by early September
Delivery and Assessment
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.
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.