MSc in Economics UK: Top Universities, Courses, Cost, Requirements, Eligibility & Scholarships

A Master’s in Economics in UK helps students develop expertise in finance, policy analysis, and data-driven decision-making. Leading universities like LSE, Oxford, Cambridge, and University College London usually charge £25,000–£40,000 (₹50–80 L) per year. Graduates often secure roles within months, with starting salaries around £35,000–£50,000 (₹70–100 L).

In 2025, the demand for a Master’s in Economics UK is rising, with applications from Indian students increasing due to strong career opportunities and flexible study options. There are more than 260 universities in UK for masters in economics, giving students a wide range of programs to choose from, including highly ranked institutions and affordable alternatives. 

The cost of tuition usually falls between £18,000 and £52,000, but students also need to consider the cost of living in UK for Indian students, which can be higher in cities like London compared to places such as Manchester or Sheffield.  

To manage expenses, many students take up part time jobs in UK, as international students are allowed to work up to 20 hours a week during term time. 

Graduates benefit from good job opportunities in UK, especially in finance, consulting, and data-driven roles, while scholarships for Indian students in UK help reduce overall costs. 

MSc in Economics UK – Key Highlights 

Studying an MSc in Economics in the UK offers a mix of world-class education, career growth, and global exposure. Below are some key highlights: 

Why Study MSc in Economics UK? 

The UK is home to top-ranked universities like LSE, Oxford, and Cambridge, which consistently feature among the best for economics worldwide. Choosing an MSc in Economics in the UK comes with multiple benefits for international students: 

• Global Recognition: Degrees from top universities like LSE, Oxford, and Cambridge are highly respected worldwide. 
• Short Duration: Most programs are just 1 year, saving both time and money. 
• Wide Choice: Over 260 universities in UK for masters in economics, offering diverse specializations. 
• Strong Career Options: Excellent job opportunities in UK in finance, consulting, research, and public policy. 
• Work While You Study: International students can take part time jobs in UK (up to 20 hours weekly). 
• Scholarships: Multiple scholarships for Indian students in UK, including Chevening and GREAT. 
• Cultural Exposure: A multicultural environment that enhances global networking and personal growth. 
• Post-Study Work Visa: The Graduate Route allows graduates to stay and work in the UK for up to 2 years. 

Top Universities for MSc in Economics UK 

Note: INR conversions are approximate and may vary based on the currency exchange rates. 

Course Curriculum & Duration 

The MSc in Economics in the UK offers a structured mix of theory and applied learning. Students gain a strong foundation in economics while exploring specialized areas based on their career interests. The program also provides practical training in research and data analysis, preparing graduates for roles in academia, policy, and industry. 

Core Subjects & Specializations 

Typical core subjects in MSc Economics programmes in the UK include: 

Specializations / optional modules often offered include: 

• Behavioural Economics  
• Environmental and Natural Resource Economics  
• International Macroeconomics / Trade  
• Time Series & Applied Econometrics  
• Finance / Corporate Strategy / Digital Economy & Innovation (on more interdisciplinary programmes)  

Also, most programmes require a dissertation or a major research project to demonstrate your ability to carry out independent work. 

Course Duration & Intakes 

The course duration for Master’s in Economics in UK varies based on whether you are opting for a full-time course or a part-time course. The general duration and intakes for MSc in Economics UK are as follows: 

• Duration: Usually 1 year full-time; 2 years part-time option available at some universities 
• Intakes: Primarily in September (autumn semester), aligning with the UK academic calendar 

Minimum Eligibility Requirements for MSc in Economics UK 

To apply for an MSc in Economics in the UK, you generally need to meet all or most of the following: 

• Bachelor’s Degree 
  A good honours degree (usually upper second class / 2:1) in Economics or a related quantitative field such as Mathematics, Statistics, Physics, or Engineering.  
• Strong Quantitative Background 
  Coursework in microeconomics, macroeconomics, statistics/econometrics, mathematics (like calculus, linear algebra). Applicants should show they handled quantitative or technical modules well.  
• English Language Proficiency 
  If English is not your first language, you’ll need to meet certain scores in tests like IELTS, TOEFL, or equivalent. Some universities also require no component below a certain score.  
• Additional Tests (for some universities / international applicants) 
  GRE (especially quantitative section) may be required or recommended if your degree did not include enough quantitative work, or if you studied outside the UK.  
• Other Strengths 
  Good grades overall help, but strong grades in relevant modules make a big difference. Research, work experience, or other evidence of quantitative or analytical ability can strengthen your application. 

Admission Process & Required Documents 

Getting into an MSc in Economics program in the UK involves following a structured application process and preparing the right set of documents. Applying early and organizing your materials in advance can significantly increase your chances of success. 

How to Apply for MSc in Economics UK? 

The application process usually includes these steps: 

• Research & Shortlist – Select universities that match your academic profile, career goals, and budget. 
• Online Application – Register on the university’s admission portal and complete the form with personal and academic details. 
• Upload Documents – Submit required files like academic transcripts, SOP, CV, and test scores. 
• Application Fee – Pay the non-refundable fee, usually between £50–£100. 
• Application Review – Universities assess your profile; some may request an interview or additional details. 
• Offer Letter – Receive a conditional or unconditional offer if selected. 
• Acceptance & Next Steps – Accept the offer, then proceed with visa, funding, and accommodation arrangements. 
• Apply Early – Aim to apply at least 6–9 months before the intake to secure your spot. 

What Documents Are Required for Admissions? 

When preparing for MSc Economics admissions in the UK, having the right documents ready makes the process smoother. Here are the most common requirements: 

• Academic Transcripts – Bachelor’s degree certificates and detailed mark sheets. 
• Proof of English Proficiency – IELTS, TOEFL, or PTE scores meeting the university’s minimum criteria. 
• Curriculum Vitae (CV) – Highlighting education, internships, research work, or any relevant professional experience. 
• Personal Statement / Statement of Purpose (SOP) – Explaining your motivation for studying MSc in Economics, career goals, and why you chose the UK. 
• Letters of Recommendation (LORs) – Usually 2 academic or professional references. 
• Passport Copy – Needed for identification and visa process. 
• Standardized Test Scores (if required) – Some universities may ask for GRE scores, especially for applicants from non-economics backgrounds. 

Having these documents ready in advance helps avoid last-minute delays and ensures your application for MSc in Economics in the UK stands out. 

Cost of Studying & Living in UK 

Studying MSc in Economics in the UK involves two major expenses – tuition fees and living costs. International students should plan for both, as fees can differ between private and public universities.  

Along with tuition, accommodation, food, travel, and other daily expenses form an important part of the budget. Understanding the overall cost of studying and living in UK helps students prepare financially before applying. 

Cost of Studying Estimate in UK 

Note: INR conversions are approximate and may vary based on the currency exchange rates. 

Cost of Living in UK 

Everyday expenses in the UK cover housing, meals, travel, and personal needs. Students in London and other big cities usually face higher costs, making careful financial planning essential. 

Note: INR conversions are approximate and may vary based on the currency exchange rates. 

Scholarships & Financial Aid for Students 

For Indian students planning to pursue an MSc in Economics in the UK, several scholarships for Indian students in UK can help reduce the financial burden. Universities, government programs, and private organizations offer funding based on merit, academic excellence, or financial need. 

Work Visa & Post-Study Stay Back Options in UK 

• After completing an MSc in Economics in the UK, international students can gain work experience through post-study work visas. 
• The Graduate Route visa allows eligible students to stay and work, or search for work, in the UK for up to 2 years after graduation. 
• This visa provides flexibility to start a career, gain professional experience, and possibly transition to a long-term skilled work visa if offered a job. 
• Eligibility Requirements: 
• Successfully complete a UK degree at undergraduate level or higher. 
• Hold a valid student visa at the time of application. 
• Apply before the current student visa expires. 
• UK visa fees in Indian Rupees: The Graduate Route visa fee is approximately £715, which is around ₹85,000. 
• Understanding these post-study stay back options in UK is essential for planning career paths and making the most of a UK degree. 

Jobs & Salary After MSc in Economics UK 

Completing an MSc in Economics in the UK opens doors to a multitude of career opportunities across various sectors. Indian students often seek jobs in UK for Indians, and understanding the potential earnings and job roles is crucial. Additionally, exploring part-time jobs in UK can provide valuable work experience and financial support during studies. 

Career Opportunities & Salary Overview 

Note: INR conversions are approximate and may vary based on the currency exchange rates.