MPHIL IN ECONOMICS

INTRODUCTION

The MPhil in Economics is designed to provide rigorous training in economic theory, applied economics, and econometric theory and methods. It is comparable to the first two years of a PhD programme at a good US university. 

The MPhil provides a solid foundation for progressing to doctoral research, while at the same time providing the advanced knowledge and skills required for a career as a professional economist in government or the private sector. Numerous MPhil graduates have gone on to distinguished careers in economics or related fields. This is the course recommended if you have not undertaken any previous graduate work in economics.

The department has developed the MPhil to enable students to easily tailor the course to their specific needs and objectives. For those already intending to progress to a DPhil at Oxford or a PhD elsewhere, the MPhil will offer rigour and exposure to the research frontier. For those intending a career as a professional economist, the MPhil will offer a broad range of options and opportunities for skill development. And for those unsure about further study beyond the masters’ level, the two years of the MPhil programme will allow you to make this choice after learning more about what graduate economic training involves.

COURSE STRUCTURE

The first year of the programme starts with a non-examined preparatory course in mathematical methods. The first two terms of the academic year focus on three compulsory courses in the central areas of microeconomics, macroeconomics and econometrics. The three courses are offered on two levels. Most students will take the courses at the core level. However, you can apply to start directly at the advanced level, which is targeted at future DPhil students who already have had ample economics training before starting the MPhil. Students who take the core level courses in the first year can take any advanced level course in the second year. In the third term, you can choose from two entirely new courses in Empirical Research Methods and Advanced Maths. These courses will provide the specialised skills needed for academic or non-academic careers in our data-rich world and the technical tools for research in economics.

In the second year, you will take four option courses. The option courses build on the first-year training and provide deeper and broader training in your areas of interest. You can take advanced-level courses in macroeconomics, microeconomics, econometrics and empirical research methods covering recent developments in theory and analytical techniques. Other option courses are designed to develop knowledge and understanding of theory, empirical 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.

 

FIND FURTHER INFORMATION ON COURSE STRUCTURE

ADMISSION CRITERIA

 

For full details on the Admissions Criteria for the MPhil Economics, please visit the Oxford University webpage here.

Candidates are strongly advised to submit their applications by the first deadline in January, as places on the second deadline will be limited. Please note that all documents needed for the application must be submitted by the chosen deadline. If the accompanying documentation is incomplete, consideration of the application will be postponed to the following deadline (if there is one).

A student wishing to be admitted for the MPhil in Economics must be accepted first by the department and then by a college.

The University requires candidates to apply online and for their referees to submit online references. To access the online application system please visit the Oxford University webpage here and select the ‘How to Apply’ tab.

All Candidates are expected to have working knowledge in one programming Language (of the candidate's choice) at the start of the programme. The department will provide advice to accepted candidates on how to acquire such knoledge. This requirement does not form part of the application process.

 

FEES AND FUNDING

You can find more information about the annual fees for the MPhil Economics on the Oxford University webpage here by selecting the ‘Funding and Costs tab’.

SCHOLARSHIPS

There are over 1,000 full graduate scholarships available across the University, and these cover your course and college fees and provide a grant for living costs. If you apply by the relevant January deadline and fulfil the eligibility criteria you will be automatically considered. Over two thirds of Oxford scholarships require nothing more than the standard course application. Use the Fees, funding and scholarship search to find out which scholarships you are eligible for and if they require an additional application, full details of which are provided.

 

The January deadline is the latest deadline for the majority of Oxford's scholarships. You should ensure that your complete application has been submitted together with all required supporting materials before this deadline.

In addition to the scholarships mentioned in the prospectuses, the following sources of funding beginning in October 2021 are also available:

 

Scholarship enquiries should be sent to econgrad.admissions@economics.ox.ac.uk 

 

Economic and Social Research Centre (ESRC) Studentships (Economics Pathway)

The ESRC is the UK’s largest organisation for funding research on social and economic issues. The University, in collaboration with Brunel University and the Open University, hosts the Grand Union Doctoral Training Partnership - one of fourteen Doctoral Training Partnerships accredited by the ESRC as part of a Doctoral Training Network

 

The University is one of the major providers of social science research training in the UK, and has one of the largest and most diverse pools of academic social scientists producing internationally recognised research. It is home to a number of outstanding departments, which are committed to research to develop a greater understanding of all aspects of society.

 

Oxford's Department of Economics is one of Europe's leading research departments and its members include some of the world's most distinguished academic economists. In the most recent UK Research Assessment, Oxford Economics had more research output graded as world-leading in terms of its originality, rigour and significance than did any other economics department in the United Kingdom. The department has particular research strength in the areas of: development economics, economic theory, econometrics, international economics and industrial organisation.

 

Additional studentships in Economics are also available for the DPhil if the research makes extensive use of Advanced Quantitative Methods.

 

In order to be considered for a Grand Union DTP ESRC studentship, you must select ‘ESRC Grand Union DTP Studentships in Social Sciences’ in the University of Oxford scholarships section of the University's graduate application form. You must also complete a Grand Union DTP Application Form and upload it, together with your graduate application form, by the relevant January deadline for your course.

 

• The Department’s Graduate Funding Panel selects the most outstanding candidates subject to their meeting the ESRC eligibility conditions.
• Selected candidates are contacted by the Department to confirm that they wish to be nominated for an ESRC studentship.
• The nominations, including supporting statements from the Department, are forwarded to the GU DTP Awards Panel for review and assessment in mid-March. (This is an open competition across the three universities in the partnership, and also not just for Economics.)
• Successful nominees are contacted by the GU DTP informing them that they are being offered an ESRC studentship, usually by late March.

 

Information about ESRC studentships at Oxford can be found on the Grand Union DTP website. Please ensure you have read all of the guidance available on the website before completing the Grand Union DTP Application Form. Questions can be directed to the Grand Union DTP Office.

The Clarendon Fund offers fully-funded scholarships covering course fees, as well as a grant for living expenses for the period of fee liability. There are no restrictions on nationality, ordinary residence or field of study. All full-time and part-time DPhil and Master’s courses are eligible. You will be automatically considered for a Clarendon award if you apply by the relevant January deadline for your course. You do not need to submit a separate application.

• The Department’s Graduate Funding Panel selects the most outstanding candidates.
• The nominations, including supporting statements from the Department, are forwarded to the Clarendon Scholarships Panel for review and assessment in mid-March. (This is an open competition across the University, and not just for Economics.)
• Successful nominees are contacted by the Fund informing them that they are being offered a Clarendon scholarship, usually by late March.

Clarendon scholars are selected for their outstanding academic merit and potential, and the scholarships are highly competitive. More information can be found on the Clarendon Fund website.

A fully funded Nuffield-Economics Studentship is available to an outstanding candidate who applies to the Department of Economics for the MPhil programme, the 3-year DPhil programme or the MPhil-DPhil programme, for October 2021 entry. The studentship is open to any nationality and does not require an explicit application to the college. The studentship will be awarded as part of the Department of Economics' annual studentship competition (online application deadline January 22nd 2021), and will cover all fees and living costs (under terms and conditions).

A fully funded Oxford-Chellgren Studentship is available to an outstanding candidate who applies to the Department of Economics for the MPhil programme, the 3-year DPhil programme ot the MPhil-DPhil programme, for October 2021 entry. The studentship is open to any nationality and does not require an explicit application to the college. The studentship will be awarded as part of the Department of Economics' annual studentship competition (online application deadline January 22nd 2021), and will cover all fees and living costs (under terms and conditions).

UniCredit & Universities Master in Philosophy (MPhil) Economics Scholarship (To be confirmed)

The Shelagh Heffernan Award is for a student admitted to the MPhil in Economics who demonstrates exceptional academic merit and who graduated from one of the following Canadian universities: University of Toronto, Queen's University at Kingston, the University of British Columbia. The value of the award is £4,500 in each year of the two year degree, payable at the start of the academic year.

St Cross: MPhil Scholarship in Social Sciences

St Cross College offers two MPhil Scholarships for students studying at the University of Oxford for an MPhil degree in any of the humanities and social science disciplines or for the BPhil degree in Philosophy. The Scholarships each have the value of £4,000 per annum and are each tenable for two years coterminous with fee liability (but only one year for the one-year MPhil in Law course). To be considered for these scholarships, applicants must have applied to study for a Master’s-level course by the January 2021 deadline. No separate application is required and all eligible offer-holders will be considered for these awards.

The Department of Economics is offering to waive University tuition fees for some incoming MPhil students or Probationer Research Students, at the Home rate. All incoming students, whether Home or Overseas, are eligible. A maximum of two such waivers will be granted to students in any single incoming cohort. All eligible students who are made an offer from the Department will be automatically considered for these awards.

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