Course Overview

Attendance
UK/EU Fees £9,000 *
International Fees £12,000 *
Alumni Discount See details
Duration 1 year

* Price per academic year

Course summary

This innovative course has been designed to develop your ability to apply economic analysis to policy issues and business problems, which are often ambiguous and multi-faceted. Although there is a strong theoretical core, the course focus of the course is very much on the practical application of economic techniques to problems, and on developing the ability to communicate the insights that economic analysis can provide.

The International Economic Policy and Analysis MSc programme was uniquely created (and has been maintained) in conjunction with the UK Government Economic Service (GES) since 2012.

The course aims to provide you with an in-depth knowledge and understanding of the latest developments in economics, with a focus on practical skills and development of the skills needed by a working economist. It is specifically aimed at those with a genuine interest in the application of economics to real-world situations.

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.

You will gain an understanding of the 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.

You'll develop your analytical skills by applying these concepts to current challenges that face the profession, at both macro and micro levels, and in both private and public sectors. This will provide you with the latest insights drawn from both the academic and practitioner arenas.

Students on this course benefit from free access to part of the material on the course reading list and an online subscription to Financial Times. In addition, you will get exposure to a global network of professional economists through a free student membership to the Society of Business Economists. 

Download a suggested timetable for the International Economic Policy & Analysis MSc.

Course structure

The following modules are indicative of what you will study on this course. You may choose one option module in addition to the core modules. 

Core modules

You will review theoretical and empirical microeconomic approaches in order to shed light on business decision making and microeconomic policy in mixed economies.

This module reviews the historical evolution of macroeconomic policy and, through a review of the theoretical and empirical literature, develops the analytical framework of macroeconomics underpinning contemporary macroeconomic policy.

This module aims to enhance your knowledge and competence of the research process, and the application of research methods in the area of applied economics.

Through this module you will cover a range of data analysis methods and concepts.

This module applies the theoretical tools, concepts and methodology of economics to private and public sector scenarios, with an emphasis on communicating and appraising policy and strategy options.

This module provides you with the framework within which to develop your full project dissertation from the proposal submitted as part of the Research Methods module. The majority of projects undertaken would be expected to involve an empirical component and appropriate quantitative analysis. 

This module analyses economic policy issues regarding inflation, monetary and fiscal policy, European Monetary Union, unemployment, the causes and effects of changes in income distribution, growth, financial stability, and crisis, in particular the great recession of 2008-2012.

Option modules

This module is concerned with both practice and theories of international trade and finance. It is related to issues such as classical and neo-classical trade theories, intra-industry trade, factor input mobility, strategic trade policies, economic integration, multinational corporations and foreign investments, balance of payments, exchange rate regimes and their implications.

This module focuses on issues of human development, poverty, inequality, structural change, industrialization, balance of payments crises, structural adjustment programs, and gender and development. Case studies on successful and unsuccessful policy initiatives in developing countries will shed light on the economic policy debate.

This module is concerned with both practical and theoretical issues related to international financial markets. It is designed to provide an in-depth understanding of the structure and operation of foreign exchange markets, financial instruments used in global financial markets; and the operation of financial institutions such as banks and insurance companies whose operations expand across a number of financial markets and financial centres. The module comprehensively addresses the nature of economic exposure and foreign exchange risks that agents might face when operating across various countries.

Entry Requirements

You will normally have either a minimum Lower Second Class Honours first degree (or equivalent) 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.

View more information about our entry requirements and the application process

You will normally have either a minimum Lower Second Class Honours first degree (or equivalent) 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.

More information

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.

While this vocationally oriented course develops skills for devising and evaluating policies and strategies, rather than simply training academic economists, several of our recent graduates have also found that it has opened up opportunities for PhD study.

All students on our full-time Business Masters courses can apply to undertake the PG/MBA Internship Programme, which forms part of the Reflective Practitioner Module.

The internship allows you to test drive a career and explore one of your career interests before you complete your Postgraduate studies!

Completing an 8-12 week accredited internship helps students gain invaluable work experience. This fantastic work experience can be taken in addition to option modules. Students are responsible for finding their own internship with the support of the Business Experience Team.

To express an interest in the module, students must submit a completed application form and a copy of their updated CV. This will give students membership a dedicated website that offers exclusive access to internship vacancies, one to-one CV guidance appointments, mock interviews, employability workshops and much more.

Students can apply to London-based organisations and have the flexibility to take their internship in the summer period or alongside their studies.

Every year we receive very positive feedback from both postgraduate students and employers and expect that the internship programme will continue to remain popular amongst our students.

Find out about postgraduate internships 

Our Career Development Centre has just been shortlisted for the Best University Careers Service in the National Undergraduate Employability Awards for 2017.

With a growing network of over 3,000 employers around the world and a team of experienced careers consultants, we are here to help you succeed.

In 2015–16, we helped over 1,500 students find work placements across a range of sectors, with 250 employers attending 14 on-campus skills and careers fairs.

As a Westminster student, you’ll have access to our services throughout your studies and after you graduate.

We can help you:

  • find work placements related to your course
  • find part-time/vacation, placement and graduate jobs, including voluntary experience
  • find international opportunities to enhance your employability
  • market yourself effectively to employers
  • write better CVs and application forms
  • develop your interview and enterprise skills
  • plan your career with our careers consultants
  • meet employers and explore your career options at our employer fairs, careers presentations and networking events throughout the year

Find out more about the Career Development Centre.

Fees and Funding

UK and EU tuition fee: £9,000 (Price per academic year)

Find out how we set our tuition fees.

Alumni discount

This course is eligible for an alumni discount. Find out if you are eligible and how to apply by visiting our Alumni discounts page.

Funding

As well as tuition fee loans, there is a range of funding available to help you fund your studies.

Find out about postgraduate student funding options.

Scholarships

The University is dedicated to supporting ambitious and outstanding students and we offer a variety of scholarships to eligible undergraduate students, which cover all or part of your tuition fees.

Find out if you qualify for one of our scholarships.

Additional costs

See what you may need to pay for separately and what your tuition fees cover.

International tuition fee: £12,000 (Price per academic year)

Find out how we set our tuition fees.

Alumni discount

This course is eligible for an alumni discount. Find out if you are eligible and how to apply by visiting our Alumni discounts page.

Funding

Find out about funding for international students.

Scholarships

The University is dedicated to supporting ambitious and outstanding students and we offer a variety of scholarships to eligible undergraduate students, which cover all or part of your tuition fees.

Find out if you qualify for one of our scholarships.

Additional costs

See what you may need to pay for separately and what your tuition fees cover.

Facilities

Course Location

Our Marylebone Campus has benefitted from a multi-million pound refurbishment resulting in new workshops, digital studios and development of the Marylebone Library. The campus is home to the Faculty of Architecture and the Built Environment and Westminster Business School. For more details, visit our Marylebone Campus page.

Contact us

Call our dedicated team on:

+44 (0)20 7915 5511

Opening hours (GMT): 9am-5pm Monday to Friday

[email protected]

More information

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