MPhil in Economics

Wellington Square, Oxford, GB, Oxford, United Kingdom

Shortlist

# 9QS Subject Rankings

21 monthsProgram duration

38,589 GBPTuition Fee/year

Economics and EconometricsMain Subject Area

Program overview

Main Subject

Economics and Econometrics

Degree

MPhil

Study Level

Masters

The MPhil in Economics is designed to provide rigorous training in economic theory, its techniques and applications, and in quantitative research methods. This MPhil can serve as pathway towards DPhil (PhD) programme at Oxford or elsewhere. In the first year of the programme, there is a non-examinable preparatory course in mathematical methods, followed by three compulsory courses in the core areas of microeconomics, macroeconomics and econometrics taught in parallel throughout the academic year. The three papers are examined at the end of the first year and progression to the second year is conditional on achieving the required grade in all three courses. In the second year, students will take five option courses, each course taught in a single term. The option courses build on core training and prepare students to undertake research. The department offers a range of advanced options courses in macroeconomics, microeconomics and econometrics covering recent developments in theory and analytical techniques. Other option courses are designed to develop knowledge and understanding of theory, techniques and debates within specialist fields of economics. These include behavioural economics, development economics, economic history, financial economics, international trade, labour economics and public economics. You will take at least one advanced course and at least one field course. Students are also required to write a thesis in the second year, supervised by a member of the department. The thesis is up to 30,000 words in length and is usually expected to contain some original research. It can be incorporated into a DPhil thesis, if they continue with their studies.

Program overview

Main Subject

Economics and Econometrics

Degree

MPhil

Study Level

Masters

GRE

324+

TOEFL

110+

IELTS

7.5+

Bachelor GPA

3.7+

Cambridge CAE Advanced

191+

A first-class or strong upper second-class undergraduate degree with honours (or equivalent international qualifications), as a minimum, in economics and demonstrate a strong quantitative preparation.

Program Duration

21 Months

Starting Month(s)

Jan-2000

Tuition fee and scholarships

Tuition Fee
Scholarships

Domestic Students

Tuition Fee/year

32,297 GBP

Tuition Fee (Out of State)

International Students

Tuition Fee/year

38,589 GBP

Other Expenses

One of the important factors when considering a master's degree is the cost of study. Luckily, there are many options available to help students fund their master's programme. Download your copy of the Scholarship Guide to find out which scholarships from around the world could be available to you, and how to apply for them.

In this guide you will find:

Where to look for scholarship opportunities

How to apply to scholarships relevant to you

A list of available scholarships around the world

A scholarship application checklist

Download Scholarship Guide

More programs from the university

Oxford offers 48 undergraduate degrees in a wide range of disciplines, from the traditional sciences through to humanities, law, languages, and fine art. Students can also study joint honors programs such as Philosophy and Theology, and Archaeology and Anthropology.

Undergraduate degrees are usually three years in length and are taught inside the individual college to which students apply. Undergraduate study at Oxford is centered on the weekly tutorial, which is supported by classes, lectures, and laboratory work carried out in university faculties and departments.

The admissions rate for Oxford is 21 percent, which seems high in comparison to Ivy League universities but is a reflection of the English system. The application period runs during the autumn for the following academic year. Applicants register to take a test, and prospective students might have to send in written work alongside the standard completed UCAS form. Shortlisted candidates are then invited to interview, and will know whether they have been successful by the end of the calendar year.

Unlike the University of Cambridge, Oxford does not operate a pooling system for candidates invited to interview. Instead, it’s common for applicants to be asked to stay multiple days in the city (accommodation is provided) and, if there are no places available at their first-choice college, they may also be invited for interviews at other colleges which have less competition for places.

Around 17 percent of applicants are international citizens, and there are no quotas for international students (with the exception of the medicine program). The application process is broadly the same for international students, with Oxford accepting school-leaving qualifications from many different countries. There are, however, additional elements to the application such as English language requirements.

Tuition fees are currently set at the annual UK maximum of £9,250, with loans available from the UK government for the full amount. Loans are also available to cover living costs during the full three years of study. Students from outside the EU are charged a significantly higher tuition fee, of up to £24,000 a year, and an additional £7,570 a year college fee. This does not include accommodation or board.

Terms at Oxford are actually shorter than at other UK higher education institutions, and their total duration amounts to less than half of the year. However, undergraduates are also expected to do some academic work during the three holidays, known as the Christmas, Easter, and Long Vacations.

Arts and Humanities (5)

Archaeology and Anthropology

Classical Archaeology and Ancient History

Classics

Classics and English - 36 months

Classics and English - 48 months

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Engineering and Technology (5)

Computer Science

Computer Science and Philosophy - 36 months

Computer Science and Philosophy - 48 months

Engineering Science

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BM BCh (Graduate Entry) Medicine

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Biology - 36 months

Biology - 48 months

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Natural Sciences (5)

Chemistry (MChem)

Earth Sciences (Geology) - 36 months

Earth Sciences (Geology) - 48 months

Materials Science

Mathematics - 36 months

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Social Sciences and Management (5)

Bachelor of Theology (BTh) - 12 months

Bachelor of Theology (BTh) - 24 months

Economics and Management

Law (Jurisprudence)

Religion and Oriental Studies

Theology and Religion

Oxford has a reputation for world-leading research, teaching and resources, all within the confines of a uniquely beautiful city. Graduate programs at Oxford are shorter than in many countries, typically lasting only one year for a master’s degree, something which is designed to facilitate swift career progression.

Students belong to an academic department or faculty that provides teaching, supervision and numerous resources to support studies and are assigned an academic supervisor who provides guidance and advice throughout the program. There are taught programs that usually lead towards a master’s qualification, where students study a range of core and optional courses, supported by lectures and seminars. Research degrees at the master's and doctoral level are conferred in all subjects studied at graduate level at the university.

There were over 20,000 graduate applications last year, so getting your application right is absolutely crucial. Candidates must choose their subject carefully and check to see if they have the correct qualifications before submitting an application.

To apply, applicants must complete Oxford’s graduate application form, pay a £75 application fee and upload the following supporting documents: a statement of purpose and research proposal (if applicable), an official transcript of a bachelor’s degree, academic references, and in many cases a portfolio and written work.

International students whose first language is not English will also need to submit an English language test score certificate to prove either standard or higher (depending on the course) level of English proficiency.

The cost of studying at Oxford as a graduate varies depending on the program. In the humanities, this could range from £4,260 (US$5,962) a year for a three-year DPhil (PhD) in music, to £16,230 (US$22,714) for an MSc in Contemporary Chinese Studies.

Most graduate courses fall within this range of costs. There are a few exceptions however, with the most expensive programs, including business administration, costing up to £77,390 (US$108,307). Likely living costs can be anything up to a further £18,655 (US$26,108) a year on top of the course fees.

Financial aid for graduate students is diffuse in its nature. Some colleges offer their own scholarships, and there are a number of external scholarships available, where organizations offer anything from £1,000 (US$1,400) to the entire cost of tuition.

For British students, the UK government offers a loans scheme for master’s courses, and there are hundreds of charities that make awards to current and prospective graduate students.