Brochure PG PDF

For further information,
please contact:
School of Economics
The University of Nottingham
University Park
Nottingham
NG7 2RD
UK
t: +44 (0)115 951 5559

www.nottingham.ac.uk/economics
School of Economics
Postgraduate study
School of Economics
School of Economics
Contents
Welcome to the
School of Economics
3 Welcome
4 A world-class university
5 Why study economics at Nottingham?
6 The MSc programme
12 The MSc dissertation
13 The PhD programme
14 Our research centres
16 Enhancing your career prospects
18 International students
19 Frequently asked questions
21 City life
22 How to apply and funding
We are delighted that you are interested in studying postgraduate

economics at The University of Nottingham, which is based at the heart
of England and in a city that is widely regarded as one of the most
desirable places to study in the UK. The School of Economics is one of
Europes top economics departments, combining excellence in teaching
with an international reputation for rigorous and topical research of the
highest quality.
Front cover image:

Postgraduate students studying in the Graduate Centre, Highfield House, University Park Campus.
We are consistently placed in the worlds top 50 economics departments

and at 6th in the UK by the Tilburg University rankings.
The school attracts the very best students from the UK and abroad,
and has a large and vibrant postgraduate community. This provides a
stimulating environment for learning and research, without losing the
friendly and informal atmosphere for which Nottingham is renowned.
Our research-led approach to teaching and learning, and the
one-to-one expert supervision we offer to all MSc and PhD students
will make your experience at Nottingham exciting and challenging, and
provide you with the skills you need to take your economics further, as an
academic researcher or a professional economist.
Whatever your plans and ambitions, we hope this brochure tells you all
you need to know about postgraduate study in economics at Nottingham,
and that your interest is the start of a long-term and successful
association with us.
Professor Kevin Lee
Head of the School of Economics
Students sharing their work

with each other.
2
School of Economics
School of Economics
A world-class
university
Why study economics

at Nottingham?
Nottingham is in the top 1% of universities worldwide,

according to the QS World University Rankings 2016. As a
world-class university, we have over 43,000 students from
more than 150 countries, two international campuses,
and an outstanding reputation for groundbreaking
research and teaching excellence.
Postgraduate study is challenging and all our students benefit

from outstanding academic and pastoral support. Our teaching
received the highest possible commendation in the latest QAA
(Quality Assurance Agency) audit, and our experienced team
are on hand to provide help and advice on issues ranging from
your course to finances, mental wellbeing and career planning.
At the heart of this success is the Universitys commitment to

teaching, research and student support. We have attracted
525m in research funding over the last three years (20132016) and our academics are passionate about their area of
research and many are internationally recognised in their field.
Once you have completed your studies, you will become

part of our alumni community of over 250,000 members from
across the globe. You can enjoy benefits including invitations
to exclusive events, lifetime access to our Careers and
Employability Service and a network of alumni who may prove
invaluable in your future career.
In the latest Research Excellence Framework, the University

was ranked 8th in the UK in terms of research power,
with more than 97% of research at the University being
internationally recognised. Research at Nottingham generates
discoveries, many of which have profound social, economic
and cultural benefits and address major global challenges. Our
postgraduate students make significant contributions to this
pioneering work and are able to get involved in work which is
considered internationally excellent.
To find out more about The University of Nottingham, including

our latest news and events, visit www.nottingham.ac.uk
The School of Economics is housed in the Sir Clive

Granger Building, named in honour of the winner of the
2003 Nobel Prize in Economic Sciences, and a former
student and member of academic staff at Nottingham. We
are situated in the idyllic surroundings of the beautiful
300-acre University Park Campus the hub or student life
and the perfect location for studying and accessing
first-class facilities.
The school is a large and culturally diverse department and
you will benefit from being taught and supervised by globally
renowned research-active academics.
World-leading research
In the most recent Research Excellence Framework the

school was ranked 6th in the UK for the quality and volume
of its research. The school has seven research centres
with specialisms in globalisation, decision research and
experimental economics, econometrics, finance, development,
behavioural science and political economy.
ESRC Doctoral Training Partnership
The University of Nottingham has joined forces with five other

universities across the Midlands to form the Midlands Graduate
School ESRC Doctoral Training Partnership.
It offers funding opportunities for postgraduate research
students each year, including tuition fee scholarships and
money towards living expenses. For more information, visit
www.nottingham.ac.uk/go/mgs
Student satisfaction
The school is highly regarded and established as one of

the best in the UK. It has a strong commitment to teaching
and research of the highest quality. Our rankings speak for
themselves:
These research centres, and the School of Economics,

host frequent seminars which provide a great opportunity
for postgraduate students to learn from, and meet leading
economists from around the world.
Consistently ranked in the UK top 10 by The Times and

Sunday Times Good University Guide and the Complete
University Guide
Placed in the worlds top 50 economics schools by the
latest Tilburg University Top 100 Worldwide Research
Ranking (6th in the UK)
Featured in the worlds top 100 elite institutions for
economics and econometrics by the QS World University
Rankings by Subject, 2016
Choice and flexibility
A University which supports you
As one of the largest economics departments in the UK, we

offer a wide choice of taught postgraduate modules and a
broad range of supervision expertise. There is a wide range
of MSc courses to choose from, which allow you to focus
on the areas of economics that are of interest to you, while
at the same time providing a grounding in core methods and
knowledge.
One-to-one expert supervision
All MSc students receive one-to-one supervision for their

dissertation. Your supervisor will be a research-active member
of the academic staff who can provide genuinely expert
guidance. Meanwhile, PhD students are allocated two expert
supervisors who are chosen to provide complementary skills
and guidance.
Personal tutoring
All MSc students are allocated to an academic who will be

their personal tutor during their time at Nottingham. Personal
tutors can offer advice and guidance on academic matters and
provide personal written references.
The University of Nottingham provides a wide range of support

services for postgraduate students. As a postgraduate, you will
have access to the Universitys Graduate School a dedicated
facility which will provide you with support and guidance. The
Graduate School offers induction events, training opportunities,
funding, careers support and social and sporting events.
Dual degree option
The School of Economics has professional links with the

Department of Economics at the University of Konstanz,
Germany. This allows MSc students who have successfully
completed the taught component of the Nottingham MSc to
spend a second year in Konstanz thus earning two masters
degrees, and completing them in less time than it would take
to earn them separately. You can double your professional
expertise, your network, your international exposure, your
opportunities and your visibility. For more information, see
page 11 and visit www.wiwi.uni-konstanz.de/en/home
Trent Building on
University Park Campus.
4
School of Economics
School of Economics
The MSc
programme
Taught postgraduate courses in the School of Economics
are an opportunity to take your economics further.
MSc Economics
Start date: September
Duration: 1 year full-time
The school attracts the very best students from the UK and
abroad and has a vibrant postgraduate community. All of this
combines to provide a stimulating environment for learning and
research, without losing the friendly and informal atmosphere
for which Nottingham is renowned.
Our courses provide excellent preparation for employment in a

wide range of careers including as a professional economist,
analyst, policy maker and academic and in a wide range of
professions including banking, finance, economic consultancy
and the civil service. They are also suitable if you wish to retrain
or upskill at key stages of your career or if you wish to change
direction and take advantage of the greater job opportunities
open to economics graduates.
Course details
The school has a long history of providing MSc Economics

training. As one of the largest economics departments in the
UK, we can offer an unrivalled combination of teaching from
world-leading academics, a wide choice of modules, and
individual one-to-one supervision for your dissertation.
You will receive one-to-one supervision from an academic who

has a research interest in that area, providing the opportunity to
study and research a topic in depth with expert guidance and
support. You will also be supported by an Economic Research
Methodology module, which provides both methodological and
practical guidance for your dissertation.
Our MSc courses are designed to bring you to the forefront

of current economic thinking and reflect the research
specialisms here at Nottingham. All are suitable for students
who have completed, or who are expecting to complete, a
good undergraduate degree in economics. Students whose
undergraduate studies were in a different field can follow a
two-year MSc programme (see page 11).
For our MSc courses you will undertake 120 credits of core
and optional modules as well as a 60-credit supervised
dissertation (on a subject of your choice).
Modules are taught with a combination of lectures, tutorials,

problem-solving classes and computer labs. Modules are
assessed by a combination of exams and coursework,
including data analysis projects, essays, literature reviews
and group projects.
Find out more about our postgraduate taught programmes at
www.nottingham.ac.uk/pgstudy/economics/taught
This course is a significant new masters programme

and is taught by economists with substantial experience
working with central banks, regulators and other financial
institutions.
It exposes students to contemporary economic thinking and

maximises the range of specialist economics topics that are
available for study. Our research-led approach to teaching
guarantees an exciting and challenging experience, providing
the skills you need to progress as a professional economist or
academic researcher.
It is designed for students intending to prepare for an

active career in a central bank or a regulatory authority
overseeing financial markets and institutions, or who wish
to gain experience of these institutions before working in
the financial sector. It provides relevant preparation for work
as an economist, supervisor or regulator in commercial and
investment banks, credit rating agencies, pension companies
and insurers as well as in the public sector.
At the end of the course, you will be able to read and

understand current and classic research papers in economics.
Your theoretical knowledge is supported with hands-on
training in the use, presentation and interpretation of economic
data, which includes exploring various advanced econometric
software packages.
The range of optional modules on offer allows students to
tailor their studies to suit their interests, while our research-led
approach to teaching guarantees an exciting and challenging
experience, providing the skills you need to progress as a
professional economist or academic researcher.
Content for this course is provided by the world leading
research of our research centres, including those in behavioural
economics, international economics, time series econometrics,
political economy and development economics.
This Economics MSc course will provide you with specialist

skills in theoretical, applied and empirical economics, which
will make you highly sought-after in todays job market. You will
graduate with expertise and knowledge that will equip you for a
range of roles in academia, government and the private sector.
This MSc also offers an ideal route for graduates intending
to undetake PhD research in any area of economics. More
information on the careers which our students have entered is
available on page 16.
For more information about the typical modules we offer and
the staff who teach the programme, please visit
This course is tailor made for

students that know that they
want to go on to do a PhD in
economics or want to leave
open the maximum number of
optional modules in the second
semester.

This course provides the technical tools required for

understanding and developing macro and microeconomic
models, while building a comprehensive knowledge of
econometric techniques.
Careers
Students relaxing in the Sir Clive

Granger Building, University Park.
MSc Economics of Financial

and Monetary Policy
Unlike a typical Economics MSc, this course has core

modules in the behaviour of consumers and firms and the
macroeconomic context for policymaking. It provides an
introduction to monetary and financial policymaking, and
hands-on data analysis modules with applications relevant to
monetary and financial institutions.
The specialised modules offered in this course refer to
monetary economics and policy, economics of corporate
finance, economics of household finance, and options are
offered in macro-financial and general equilibrium (DSGE)
modelling techniques used widely by central banks and
regulators. These modules offer advanced understanding of
institutions, policy making bodies and techniques used to
evaluate policies.
The programme specification draws on and makes a virtue
of the close links with the Centre for Finance, Credit and
Macroeconomics (CFCM). The modules are taught by Fellows
of the centre, and draw on their research published in the
working paper series and internationally recognised peer
reviewed journals. It is further supported by a weekly seminar
series, one-day conferences and regular public lectures
organised by CFCM.
Careers
This Economics of Financial and Monetary Policy MSc course

provides excellent preparation for work as an economist,
supervisor or regulator in the Bank of England, the Prudential
Regulation Authority, the Financial Conduct Authority, or in
the private sector in commercial and investment banks, credit
rating agencies, pension companies and insurers.
Equivalent organisations and firms exist in most countries,
and the course has been designed to refer to a broader set of
institutions than just those in the UK, making it applicable to
students from the EU and overseas.
Professor Richard Upward

Course Director
7
School of Economics
MSc Economic Development

and Policy Analysis
School of Economics
MSc Behavioural
Economics
This course is taught by economists with substantial

experience of economic policy analysis in developing
countries.
Behavioural economics is a rapidly expanding field,

investigating the human and social factors influencing the
decisions made by consumers, borrowers and investors.
There is a focus on applications to and in developing countries,

but the methods of policy analysis you will cover are of broad
relevance.
Our research-led approach to teaching guarantees an exciting

and challenging experience, providing the skills you need to
progress as a professional economist or academic researcher.
It is designed for students aiming for a career as an economist

or analyst in a government department, international
organisation, non-government organisation or private
company with an international outlook. It provides applied
and analytical training for economists working in government
ministries and students from overseas on secondment from a
government post.
At the end of this course you will be able to read and

understand current and classic research papers in the field
of behavioural economics and will have received one-to-one
guidance to enable you to complete your first behavioural
research project or experiment.
Academic staff involved in delivering the course have

experience undertaking commissioned studies for
organisations such as DFID, Commonwealth Secretariat,
the European Commission, FAO, World Bank, UNCTAD
and UNIDO.
Unlike a typical Economics MSc, this course has core
modules in the behaviour of consumers and firms and the
macroeconomic context for policymaking. It provides an
introduction to development policymaking, and hands-on
data analysis modules with applications relevant to
development issues.
understand current and classic research papers in the field of
economics and development economics and will have received
one-to-one guidance to enable you to complete your first
simple theoretical model or experimental or empirical project.
Careers
This Economic Development and Policy Analysis MSc course

is excellent preparation for work as an economist in public
sector and international organisations where an understanding
of development and policy issues is crucial. Students from
the MSc have gone onto work in international organisations
such as the World Bank, the OECD, the UN, the ILO and
development organisations around the world. More information
on the careers which our students have entered is available on
page 16.
Content for this course is informed by the world leading

research of the Centre for Decision Research and
Experimental Economics (CeDEx). You will learn about the
experimental methods used by our researchers, alongside
utilising our CeDEx computer lab for conducting economic
experiments. You will also be invited to attend workshops and
seminars that are run by the centre, which include speakers
from across the globe.
Careers
This Behavioural Economics MSc course will provide you

with specialist skills in theoretical, applied and empirical
economics with a particular focus on behavioural and
experimental economics. You will graduate with expertise and
knowledge that will equip you for a range of roles in academia,
government and the private sector. Insights from behavioural
economics are becoming increasingly relevant to policy-makers
and financial firms. This MSc also offers an ideal route for
graduates intending to undetake PhD research in behavioural
or experimental economics. More information on the careers
which our students have entered is available on page 16.
MSc Economics and

Development Economics
This course explores the theories, issues and evidence in
economics analysis, as applied to developing countries.
Content is informed by the cutting-edge work of academics
associated with the Centre for Research in Economic
Development and International Trade (CREDIT).
CREDIT is a research focus for members of the School of
Economics and colleagues in other research institutions, and
their principle research interests are economics issues relating
to developing countries.
economics and development economics and will have received
simple theoretical model or experimental or empirical project.
Careers
This Economics and Development Economics MSc course

will provide you with specialist skills in theoretical, applied and
empirical economics, which will make you highly sought-after
in todays job market. You will graduate with expertise and
government and the private sector. This MSc also offers an
ideal route for graduates intending to undetake PhD research
in the area of development economics. More information on the
careers which our students have entered is available on page
16.
Studying at Nottingham
allowed me to fully immerse
myself into my studies, with
small class sizes, one-to-one
discussions with lecturers
and a very international and
sociable cohort. And all this on a
beautiful campus with amazing
sport opportunities and a vibrant
student life!
MSc Economics
and Econometrics
This course provides students with a solid foundation in
contemporary econometric theory, and the expertise to
apply that theory to the analysis of economic data.
It is designed to train you in the use of analytic and quantitative
methods in examining economic issues, providing research
training at the level needed to progress to a PhD programme.
Our research-led approach to teaching guarantees an exciting
and challenging experience, providing the skills you need to
progress as a professional economist or academic researcher.
The programme is influenced by the work of academics at the
Granger Centre for Time Series Econometrics including
Nobel Prize winner and Nottingham alumnus, Sir Clive
Granger. The Centre was established in 2006 to develop and
distribute research in both theoretical and applied time series
econometric analysis, including panel data methods.
understand current and classic research papers in
econometrics and applied econometrics and will have received
econometrics research project.
Careers
This Economics and Econometrics MSc course will

provide you with specialist skills in theoretical and applied
econometrics, which will make you highly sought-after in
todays job market. You will graduate with expertise and
government and the private sector. The econometric skills you
will learn are of great value to many employers who require
analysis of increasing volumes of data, together with an
economic understanding of that data. This MSc also offers an
in the area of econometrics. More information on the careers
which our students have entered is available on page 16.
Noemi Schramm
Economics student
School of Economics
MSc Economics
and Financial Economics
This course explores current theories, while providing
students with research training and the core skills and
techniques needed for analytical work on financial
markets.
The last two decades have seen a dramatic change in the
economic theory of financial markets. This course is influenced
by the work of academics at the Centre for Finance, Credit
and Macroeconomics (CFCM), which focuses on issues
arising from the operation of financial markets, household debt
and corporate finance. It also investigates the transmission
mechanisms of monetary policy through credit channels,
particularly when credit is constrained.
You will be trained in the use of analytic and quantitative
methods in examining economic issues, and will be provided
with research training at the level required to progress to
a PhD.
understand current and classic research papers in the field
of financial economics and will have received one-to-one
guidance to enable you to complete your first finance
research project.
Careers
This Economics and Financial Economics MSc course will

provide you with specialist skills in theoretical, applied and
empirical economics, with a particular focus on financial
economics, which will make you highly sought-after in todays
job market. You will graduate with expertise and knowledge
that will equip you for a range of roles in the finance industry
as well as academia and public sector organisations such as
Central Banks and financial regulators. This MSc also offers an
in the area of financial economics. More information on the
careers which our students have entered is available on
page 16.
School of Economics
MSc Economics and

International Economics
This course focuses on international economics,
while providing a solid basis in the use of analytic and
quantitative methods in examining economic issues.
Course content is influenced by the work of the Nottingham
Centre for Research on Globalisation and Economic
Policy (GEP). The centre is one of the leading European
research groups studying the causes and consequences of
globalisation, and its academics have advised the Treasury, the
World Bank and the World Trade Organisation.
This course is designed to provide research training at the level
required to progress to a PhD programme. Through specialised
modules in international macroeconomics and international
trade theory, you will be taught to apply and develop your
analytic and quantitative skills developed in the core courses,
and to take further options in areas that will strengthen those
skills for examining international economic issues.
international economics and will have received
research project on a topic that might include international
trade, FDI or migration.
Careers
This Economics and International Economics MSc will provide

you with specialist skills in theoretical, applied and empirical
economics with a particular focus on international economics,
which will make you highly sought-after in todays job market.
You will graduate with expertise and knowledge that will
equip you for a range of roles in academia, government and
the private sector. This MSc also offers an ideal route for
graduates intending to undetake PhD research in inernational
economics. More information on the careers which our
students have entered is available on page 16.
Doing my masters at Nottingham was the best decision Ive

made in my career so far. The economics department was full
of talented and enthusiastic lecturers and students, making it an
enjoyable experience all round. The most valuable aspect of my
time at Nottingham was probably meeting people from across the
globe and across disciplines.
Cindy Smith
Cities Unit and Transport Economist, Corporate Finance Infrastructure KPMG LLP
Two-year MSc programme

(GDip conversion)
Duration: 1 year full-time, 2 years if progressing to MSc
The Nottingham MSc programme provides advanced
study in economics, and therefore we require our students
to have completed a good degree in economics before
being accepted. However, for students who have a good
undergraduate degree in another discipline, the
two-year MSc offers the perfect conversion programme.
It can be tailored to suit the needs of students from a
range of academic backgrounds with varying degrees of
mathematical training.
In the first year, you will study towards a Graduate Diploma
in economics. You will take lectures, tutorials and seminars
in undergraduate economics modules, so that you are
equipped with the knowledge and skills required to undertake
postgraduate study.
In the second year, those achieving the required standard
will be enrolled onto one of the MSc courses listed in this
brochure.
Course details
You will embark on one of two pathways, depending on your

academic background and mathematical skills, undertaking
core compulsory modules and four optional modules drawn
from a range of undergraduate programmes. Both routes lead
to any of the MSc courses offered within the school.
As one of the largest Schools of Economics in the UK,
with academics specialising in a number of research areas,
Nottingham can offer a wide range of optional modules.
Careers
This Economics (Conversion) GDip course is designed as a

conversion route to our masters programme, allowing you to
consolidate your skills and experience in your chosen field of
economics. However, the course is also a qualification in itself.
Dual degree option

Duration: 2 years full-time
The School of Economics has professional links with
the Department of Economics at the University of
Konstanz, Germany.
This allows MSc students who have successfully completed
the taught component of the Nottingham MSc to spend a
second year in Konstanz thus earning two masters degrees,
and completing them in less time than it would take to earn
them separately. You can double your professional expertise,
your network, your international exposure, your opportunities
and your visibility.
We offer a carefully matched programme, taught in English,
that consists of core modules providing you with advanced and
rigorous training in analytic and quantitative methods.
It is followed by a specialisation in sought-after economics
fields, thus allowing access to challenging professional and
academic jobs as well as a PhD in Nottingham, Konstanz or
anywhere else.
Sandwiched between the two locations there is the option for
an internship an ideal combination of theoretical instruction
and real world application two key components for future
economists working in a globalised world.
The University of Konstanz is one of 11 universities in Germany
with the status of University of Excellence. Its first-rate
infrastructure includes an excellent 24-hour library, a language
institute offering German and other foreign language courses
and a high quality sports centre. The University is idyllically
situated on a hill overlooking Lake Constance, with a view of
the Swiss Alps in the distance. All facilities can be found on
campus, and halls of residence and sports facilities are within
immediate reach.
Course details
This two-year full-time programme requires you to complete

120 credits of core and optional modules in Nottingham in
their first year. In your second year you will complete further
taught courses in Konstanz and a dissertation under the joint
supervision of academics at Konstanz and Nottingham.
The Nottingham credits count towards your MSc in Konstanz,
and the dissertation counts towards your MSc in Nottingham,
so that on completion you can be awarded two MSc degrees
in economics. The summer of the first year also provides a
great opportunity to undertake an internship.
Careers
This dual degree is ideal for students who are thinking of a

applying for a PhD, but are not yet ready to write their
research proposal: the additional year of study will help you
write a stronger proposal. The dual degree offers an ideal
combination of theoretical instruction and real world application
two key components for future economists working in a
globalised world.
An Economics MSc can help you enter a wide range
of interesting and rewarding careers. Our former MSc
students are spread around the globe, working in academia,
government, and the private sector as economists, consultants
and analysts.
Find out more: www.wiwi.uni-konstanz.de/en
10
11
School of Economics
School of Economics
The MSc dissertation
The PhD programme
During the summer you will complete a dissertation,

chosen by you to reflect your research interests.
The postgraduate research programme offers students

the opportunity to study economics to PhD level with
expert supervision and additional research training.
A dissertation can appear daunting, which is why at

Nottingham you will be supervised on an individual basis by
an academic who has a research interest in that area, thus
providing you with the opportunity to study and research a
topic in depth with the guidance and support of an expert. You
will also be supported by an Economic Research Methodology
module which provides both methodological and practical
guidance for your dissertation.
Recent successful dissertations completed by Nottingham
MSc students cover topics as wide-ranging as:
An experimental study investigating why pro-social behaviour

varies so much across different societies
A re-examination of the effectiveness of international aid to
an African economy using four different measures
Modelling of extreme events (such as earthquakes or
financial crises) using measures of risk, applied to the
Icelandic economy
An investigation into the effect of the 2004 EU enlargement
on UK trading patterns
Testing whether government are honest by comparing their
fiscal forecasts using real-time datasets
Examining whether there is a causal link between financial
development and economic growth in Latin America
Identifying and measuring asset bubbles in the build-up and

aftermath of the 2007 sub-prime crisis
An experimental study of labour supply behaviour, examining
why workers do not behave in the way predicted by standard
labour supply theory
An econometric analysis of the complex dynamics of real
exchange rate movements
A study on the performance of different pseudo-panel
estimators which can be used when genuine panel data is
not available
Facilities
In addition to the IT facilities provided by the University, the

school offers its full-time postgraduate research students
their own workspace in rooms designated for use by research
students. You will be provided with computer, printing and
photocopying facilities and will be given a generous printing
and photocopying allowance.
The Hallward Library stocks all of the major economics
publications and journals. Our library facilities open long hours
and include areas for group work, individual and silent study.
Conferences
Students are also encouraged to present papers to external

conferences, and their attendance is supported financially by
the school. There is also an annual conference where students
present their work to academic staff and fellow students.
Teaching opportunities
Second and third year research students are encouraged to

act as academic tutors, generally to first year undergraduates.
This provides valuable training for a future career in academia,
as well as an excellent opportunity to develop a range of
presentation and organisational skills. Students who undertake
tutoring receive training in communication and teaching skills.
Seminars
Students are encouraged to participate in the schools

busy seminar and workshop programmes, allowing them to
engage with top international academics in the field. Each
year, masterclasses on specific themes are held by leading
researchers visiting the school.
PhD Economics
Duration: 3 years full-time, 6 years part-time
The PhD consists of a combination of taught courses
and supervised independent research, leading to the
completion of a PhD thesis.
One-to-one supervision is a traditional element of

our masters programmes, and this important aspect
of our provision is extremely helpful to students
during the first stages of independent research.
Professor Kevin Lee
Head of the School of Economics
Because academic staff conduct world-leading research

across a wide range of subjects, the school can offer expert
supervision in most areas of the discipline. You will be
allocated two supervisors and will meet with them on an annual
and quarterly basis to help ensure smooth progress of your
research work.
During your first year, you will complete taught courses in order
to acquire the necessary skills and background knowledge
for your research. Some are compulsory and some will be
recommended by your supervisors. All students take the
module, PhD Economics Research Methods, and at least one
other module. You will also undertake research and generic
skills training, provided by the School of Economics and the
Graduate School, and start work on your research.
Careers
Graduates from our PhD programme go on to have successful

careers in a wide range of areas. Many have obtained
academic positions in UK universities including Oxford,
Nottingham, LSE, Warwick, Manchester, Durham, Birmingham,
Bristol, East Anglia and Surrey. Others have secured positions
at universities around the world in locations such as the USA
(Yale), Germany (Bonn), Austria (Innsbruck), France (cole
Polytechnique), Brazil (So Paulo) and China (Xiamen).
Graduates have also secured roles in policy agencies such
as the World Bank, International Monetary Fund, Organisation
for Economic Co-operation and Development, European
Commission and European Central Bank as well as various
government department and policy institutes.
From your second year, you will focus in more detail on your
research. Training is provided for the preparation of articles
for submission to academic journals and for applying for jobs
in academia.
12
13
School of Economics
School of Economics
Our research
centres
CeDEx has developed and delivered training workshops

specifically designed to convey the importance of this balance
to government departments, many of which have trialled more
experimental approaches as a result. Her Majestys Revenue
and Customs, for example, has successfully used such
methods to assess the effect of message framing in promoting
tax recovery.
Centre for Research in Economic Development

and International Trade (CREDIT)
CREDIT was founded in 1988 and provides a focus for staff

with a primary or significant research interest in development
economics. The focus of research interests is on trade policy,
macroeconomics of aid and analysis of household surveys,
especially for sub-Saharan Africa. Research is often conducted
in collaboration with the network of External Research Fellows.
CREDIT has an active weekly seminar programme with invited
speakers from around the world who present topics relating to
development economics and development policy.
The Centre for Finance, Credit

and Macroeconomics (CFCM)
CFCM is a research centre focusing on financial markets,

macro-economic cycles, consumer and corporate credit.
CFCM receives external funding from the UK government
(BERR), research councils (ESRC), the private sector
(Experian, Fitch Ratings) and charities (Nuffield Foundation, the
British Academy). CFCM research focuses on the operation
of financial markets, monetary policy, household and corporate
finance and macroeconomic dynamics.
The Centre specialises in the analysis of high frequency

data from markets, households and firms to understand
indebtedness and financial distress.
The Centre also investigates the transmission mechanisms
of monetary policy through credit channels, exploring the
behaviour of corporations and households when credit is
constrained, and the effect of credit on house prices and
business cycles. CFCM has formed close research links with
a number of similar research institutions (Institute for Fiscal
Studies, EUI Finance and Consumption) and central banks
(Bank of England, European Central Bank, Federal Reserve).
The Centre for Decision Research and

Experimental Economics (CeDEx)
CeDEx has helped government departments to devise and

implement policies that better reflect the complexity and
nuances of real-world behaviour.
The global financial crisis offered a dramatic illustration of why
assumptions of rationality can sometimes prove misplaced.
The meltdown prompted a major rethink of the belief that
consumers and markets alike are slaves to machine-like logic.
The Department for Environment, Food and Rural Affairs has

also drawn on CeDExs expertise. Research into the factors
that influence purchase decisions has informed policy on how
energy-saving products are offered to consumers.
The Granger Centre for

Time Series Econometrics
The Granger Centre focuses on both theoretical and applied

time series econometric analysis, including panel data
methods.
The Centre is named in honour of Professor Sir Clive Granger
in recognition both of his invaluable contributions to the
discipline of time series econometrics and his long association
with The University of Nottingham. Sir Clive, who was awarded
the Nobel Prize in Economic Sciences in 2003, had a profound
influence in the field of time series analysis over almost half a
century, becoming one of the most prominent econometricians
in the world.
Research in international economics once concentrated on

countries and industries. In recent years, thanks to larger and
more detailed datasets, the focus has shifted to firms and
products. GEP has been at the forefront of the move to a more
granular approach.
The centres groundbreaking research in this field has
produced a number of highly significant insights about UK
exporters, including strong evidence that exporting improves
a firms financial health. Key differences between firms that
successfully start to export and firms that do not for instance,
an ability to deal with language barriers or identify customers
have also been identified. The overall result is a much deeper
understanding of the characteristics that allow a firm to benefit
from exporting.
UK Trade and Investment and the Department for Business,
Innovation and Skills have used the findings to improve
the effectiveness of firm-specific policies to boost export
performance. They also drew on GEPs evidence base to
inform the design of a new trade promotion scheme, Gateways
to Global Growth, which was launched in 2009.
Find out more at
www.nottingham.ac.uk/economics/research
Nottingham Centre for Research on

Globalisation and Economic Policy (GEP)
Research by GEP has helped shape the UKs export policies

by providing a better understanding of why firms choose to
export and the barriers they face.
Student studying in cafe, Sir Clive

Granger building, University Park.
14
15
School of Economics
School of Economics
Enhancing your
career prospects
Our masters programmes provide you with specialist skills
in theoretical, applied and empirical economics, which will
make you highly sought-after in todays job market.
You will graduate with expertise and knowledge that will equip
you for a range of roles, and our students have gone onto
successful careers in their chosen fields. Our former MSc
students are spread around the globe, working in academia,
government, and the private sector as economists, consultants
and analysts.
In the private sector our former students use their economic
and econometric skills in many international firms and
consulting organisations, including:

Adam Smith International

Arup Consulting
Deloitte
Frontier Economics
Ikano Insight
JP Morgan
KPMG
PwC
Oxford Economics
Royal Bank of Scotland
Shell
Thomson Reuters
Towers Watson
Vantage Partners
Virgin Media
International organisations that employ our students include:

The World Bank

OECD
International Labour Organisation
The Central Bank of Iceland
International Trade Centre Geneva
United Nations
The Asian Development Bank
In the public sector, former Nottingham MSc students work in

numerous UK government departments, amongst others:

The Bank of England

HM Treasury
The Cabinet Office
HM Revenue and Customs
The Department for International Development
UK Department for Trade and Industry
The Health and Safety Executive
Nottingham MSc students have gone on to study for PhDs,

or have completed their PhDs, at universities in the UK
(Nottingham, Bristol, Cambridge, Oxford, Warwick), Germany
(Mannheim, Kiel, Gttingen, Humboldt), Sweden (Stockholm),
the Netherlands (Rotterdam), and the USA (Northwestern,
Pittsburgh, San Diego, Washington State).
Some of our students now hold research and teaching
positions in UK universities including Oxford, Nottingham,
LSE, Warwick, Manchester, Durham, Birmingham, Bristol,
East Anglia and Surrey. Others have secured positions at
universities around the world in locations such as the USA
(Yale), Germany (Bonn), Austria (Innsbruck), France (cole
Polytechnique), Brazil (So Paulo) and China (Xiamen).
I find the course very rewarding, since teachers

transmit differentiated perspectives of economic and
policy issues, and I feel this hands-on training and
knowledge will be very useful for my professional
future.
Luise Voget
Economics student
In 2015, 100% of postgraduates in the School of Economics

who were available for employment had secured work or
further study within six months of graduation. The average
starting salary was 23,322 with the highest being 30,000.*
* Known destinations of full-time home higher degree postgraduates
2014/15. Salaries are calculated based on those in full-time paid
employment within the UK.
Student Profile
Basile Boulay
MSc Economics and Development Economics
Im a 23 year old student from Bordeaux, France. I did my
undergraduate degree at Cardiff University, in Economics
with Spanish, and Im now taking the MSc Economics and
Development Economics here at Nottingham. I find the
programme well balanced between theory and applied
work, which for me is the distinctive (and highly valuable)
feature of the school. It pushes students to think far beyond
the textbooks theoretical approach. Lecturers have an
impressive knowledge of Asian and Sub-Saharan African
countries, which is a strong advantage for a student in
development economics. I would like to start a PhD next
year here in Nottingham, the idea being to study the
potential of under-utilised crops in Tanzania with the aim of
increasing farmers income and reducing poverty.
Read more student profiles at

www.nottingham.ac.uk/economics/pgt-profiles
Postgraduate student reading

the Financial Times newspaper.
16
17
School of Economics
School of Economics
International students
Frequently asked
questions
Nottingham is a truly global university and a masters degree

from the School of Economics will enhance your worldwide
career prospects and will help you to excel in your chosen
field. We are in the top 1% of universities worldwide, in the
latest QS World University Rankings.
Support services
Dedicated support for international students
Academic English and study skills
Our International Office offers a range of services to ensure that

you feel at home here, and you have all the information you need
to live and study at Nottingham.
Opportunities to meet us
Members of our International Office and academic staff regularly

visit different countries to meet prospective students and their
families. We work closely with the British Council and have a
worldwide network of representatives, all of whom can give you
advice on studying in the UK and at The University of Nottingham.
For details of upcoming events around the world, representatives
in your country, and how to visit us at Nottingham, visit
www.nottingham.ac.uk/internationalstudents/meetus
Welcome Programme
For new international students joining the University in September

or October, we offer a free International Welcome Programme,
just before the start of the academic year in September. This is an
excellent opportunity to meet your fellow students and familiarise
yourself with the campus and the city.
We provide a confidential advisory service for international and

EU students and can offer advice and guidance on a range of
issues including immigration, visas, employment and financial
matters, as well as academic and personal issues.
Our Centre for English Language Education (CELE) offers

academic English courses, for students who have not yet
reached the required English language level for their chosen
course.
The Centre also offers further academic English support
programmes, that you can attend while you are studying with us.
These will develop your understanding of the linguistic, academic
and social conventions of living and learning in Britain.
Find out more at www.nottingham.ac.uk/cele
Is it possible to study an MSc course on a

part-time or distance learning basis?
At present, all MSc courses can only be studied on a full-time

basis. It is possible that in the future we may offer more flexible
learning options.
What are the course fees?
Course fees can be found at

www.nottingham.ac.uk/fees/tuitionfees
When do the courses start?
All MSc courses and the diploma start in September each year.
For students beginning a research programme, it is possible to
start in the September or the January of each year.
What are the entry requirements?
Entry requirements for each course are listed on page 22 of

this brochure and can also be found on the course pages of our
postgraduate online prospectus.
For all candidates whose first language is not English, the
required score is IELTS 6.5 (no less than 6.0 in any element).
For more information and a list of the alternative English language
requirements we accept, please see
www.nottingham.ac.uk/go/alternativerequirements
Students who require extra support to meet the English language
requirements for their academic course can attend a presessional
course at the Centre for English Language Education (CELE)
to prepare for their future studies. Students who pass at the
required level can progress directly to their academic programme
without needing to retake IELTS. For more information, please
visit www.nottingham.ac.uk/cele
When is the application deadline?
For UK/EU applications there is no admission deadline. For

international applications which involve visa requirements, the
deadline is mid-August, due to the extra time needed for students
to make the necessary visa arrangements. Candidates should
note that many funding schemes and scholarships also have their
own deadlines.
18
Once an application has been submitted, how

long does it take to receive a decision?
For MSc applications, once a complete application has been

received (ie including references, transcripts and proof of English
language proficiency where applicable), a final recommendation
is usually made within two weeks. The School of Economics
Admissions Tutor makes a recommendation within approximately
two days and this is then sent to the Universitys Admissions
Office for confirmation.
For MPhil/PhD applications, once a complete application is
received (as per the above but including a research proposal),
a recommendation is usually made within four weeks; this
additional time allows us to find the best supervisors for you.
Which degree should I choose?
Most importantly, choose the degree which interests you the

most, based on the modules and topics you will be studying in
each degree.
The MSc Economics of Financial and Monetary Policy and
MSc Economic Development and Policy Analysis degrees are
designed for students who wish to apply an advanced level
knowledge of economics to practical and policy issues, perhaps
as professional economists. These degrees have less formal
mathematical content and econometric theory. If your first degree
contained little training in mathematical and statistical methods,
you may find these degrees more suitable.
The MSc degrees in Economics, Behavioural, Development,
Econometrics, Financial, and International are designed to
provide core research training in economics and are appropriate
for students considering progressing into a career in academic
economics research.
Is there any funding available?
Each year the University offers funding to postgraduate

taught and research offer holders; this is usually advertised
on the schools website in January each year. The Universitys
International Office also offers an extensive range of scholarships.
For more information, please visit
www.nottingham.ac.uk/studywithus/international-applicants
19
School of Economics
School of Economics
City life
Right at the heart of England, Nottingham is a vibrant and
versatile city, rich with heritage and culture, embracing
creativity and originality.
Music scene
Nottingham is bursting with year-round events and activities for

everyone to enjoy, whatever the season: fairgrounds, festivals,
fireworks, cultural celebrations, continental markets, music
events and even outdoor ice skating.
Nottingham has something for everyone. The Royal Concert

Hall hosts opera and classical concerts, while the huge
Motorpoint Arena attracts nationwide popular music and
comedy tours. The legendary Rock City showcases top rock
and indie acts, while venues such as the Rescue Rooms and
Bodega Social Club showcase the latest alternative acts
before they make it big.
Shopping
Location
Nottingham offers an enticing mix of high street and vintage

clothes stores catering for every style and budget. All the
big high street names feature within the city centre, while
independent boutiques can be found in the side streets and
cobbled roads of the Lace Market and Hockley areas.
Cultural highlights
There are plenty of places to get your culture fix in Nottingham:

a variety of art galleries, the Museum of Nottingham Life and
the Galleries of Justice Museum, to name just a few. The
Castle Museum exhibits fascinating work, while the Universitys
unique arts centre and museum, Nottingham Lakeside Arts,
presents an eclectic public programme of music, dance,
theatre and visual art.
Getting here is easy. Nottingham is less than two hours travel

from London, with excellent transport links to the capital and
the rest of the UK.
East Midlands Airport, one of the UKs fastest growing airports,
is only 40 minutes from the city centre via a 24-hour bus
service.
Frequent rail services run from Nottingham to major UK cities,
including London every 30 minutes, and the completion of the
Eurostar connection at St Pancras International means that
passengers are only a few hours train journey from Paris.
Find out more at www.experiencenottinghamshire.com
On stage and screen
Local travel within Nottingham
The English countryside
Public bus services

Through strong partnership with Nottingham City Transport
(NCT), we have established a number of public bus services
that provide direct links between University campuses and
Nottingham city centre. For more information, see
www.nottingham.ac.uk/go/buses
Sporting city
Trams
The University benefits from tram stops close to University Park
Campus. Find out more:
www.nottingham.ac.uk/about/visitorinformation
For film fans, the city centre has a 14-screen multiplex and
the independent Broadway Cinema which offers the best
in arthouse and world cinema as well as a busy cafe, which
is a favourite with students across the city. If you prefer
the stage, theres Nottingham Playhouse and the Theatre
Royal, Nottingham Castle for outdoor performances and the
Universitys own Nottingham Lakeside Arts. For comedy, try the
Glee Club, Jongleurs or Just the Tonic.
For a change from urban life, visit Wollaton Hall and Deer Park
(literally across the road from University Park Campus), the
city-centre Arboretum, Nottingham Castle, Sherwood Forest or
the Peak District.
Whether you want to spectate, train or compete, youll

be spoilt for choice in Nottingham. Venues include Trent
Bridge international cricket ground, Nottingham Forest and
Notts County football clubs, the National Water Sports
Centre, National Ice Centre, Nottingham Tennis Centre and
Nottingham Climbing Centre.
Hopper buses
We are one of the few universities to offer a free inter-campus
bus service for both staff and students. Services run from
the main University Park Campus to Jubilee Campus, Sutton
Bonington Campus, Kings Meadow Campus and Royal Derby
Hospital Centre.
Food and drink
Nottingham has a great range of restaurants, pubs and bars.

Celebrity chefs such as Jamie Oliver and Marco Pierre White
have restaurants in the city and you can find deals in the usual
chain restaurants. The city centre offers contemporary canalside bars, affordable cafes and is home to two of Englands
oldest pubs Ye Olde Salutation Inn and Ye Olde Trip to
Jerusalem which both stand close to Nottingham Castle.
Students relaxing in
Wollaton Park, Nottingham.
20
21
School of Economics
School of Economics
How to apply
and funding
Entry requirements
MSc: 2:1 (or international equivalent) in a discipline with

significant economics content
GDip: 2:1 (or international equivalent)
PhD: ESRC-recognised masters (or international equivalent)
in economics, with an average mark of 63% or above
International students visa information
Most international (non-European Economic Area) students

need a visa to study in the UK. Our Visa and Immigration team
offers information, advice and support to help you prepare and
apply for the a student visa.
European Economic Area (EEA) nationals do not need a visa
or entry clearance to study in the UK. If you are an EEA national
you can travel into the UK using your passport or National
Identity Card.
Visit the website at www.nottingham.ac.uk/international
Visas available to students
There are two different visas available to students:
Tier 4 (General) student visa you will need a Tier 4
(General) student visa if you intend to study in the UK for
more than six months
Short-term study visit visa if your course is for less than six
months and you do not plan to extend your stay or undertake
any kind of employment while you are here, you will need a
student visitor visa*
International students who are already in the UK are welcome

to come and meet with an Immigration Adviser in the Visa and
Immigration team. For more information visit
www.nottingham.ac.uk/internationalstudents/advisers
Please note that this information has been collated by the
Visa and Immigration team at The University of Nottingham
and may be subject to change and updates announced by the
Home Office.
How to apply
For postgraduate course applications, the easiest, quickest

and most secure way to apply is via the Universitys online
postgraduate application system, from within the course entry
on our website. This also allows you to track your applications
progress. Further information about the application process
can be found at www.nottingham.ac.uk/pgstudy/apply
We welcome applications any time of the year, but taught
masters and research degrees start at the end of September.
Fees
For the latest course fees, visit

www.nottingham.ac.uk/fees/tuitionfees
Funding
Postgraduate taught students are responsible for arranging

their own funding to cover fees and living expenses. It is best
to apply early for your course, giving yourself the maximum
amount of time to look for available funding.
Visa application process

Our 7 steps to obtaining a Tier 4 student visa postcard can
help guide you through the visa application process. This also
contains links to guidance on completing the online application
form. Download the postcard at
www.nottingham.ac.uk/internationalstudents/7steps
The Universitys postgraduate funding webpage provides

information on current scholarships available from the
University, as well as other sources of funding. Please visit
www.nottingham.ac.uk/graduateschool/funding
Further information on the visa application process and the

funds required to make a successful visa application can be
found at www.nottingham.ac.uk/internationalstudents/
visasimmigration
For postgraduate taught courses please see

www.nottingham.ac.uk/economics/pgt-funding
Guidance
Our Visa and Immigration team provides information, advice
and support throughout the visa application process, whether
you are applying from overseas, making applications in the UK
or are unsure about your immigration responsibilities.
We also produce specific guidance to help you avoid a
visa refusal. Our top tips on how to make a successful visa
application can be very useful in helping you prepare for the
visa process and avoid the upset and delay of a refusal. For
more information, visit
www.nottingham.ac.uk/internationalstudents/visa-refusals
Accommodation
All new full-time postgraduate students are guaranteed a room in

University-arranged accommodation for one year, providing you
meet the conditions of our accommodation guarantee, which
includes accepting your course place by 1 August of the year
you are due to start. We have a wide range of high-quality
accommodation located close to campus. We can also help you
find private accommodation.
For more information, including details of our accommodation
guarantee, visit www.nottingham.ac.uk/accommodation
Visit us
Connecting with Nottingham
There are lots of ways that you can connect with Nottingham
before you arrive. You can virtually visit Nottingham using our
virtual open day website. This includes videos of our campus and
student profiles. Visit www.nottingham.ac.uk/virtualnottingham
Our student life and international student life blogs will provide
you with a taster of what you might experience while at
Nottingham. Blogs are written about food, social experiences,
sport and more. Visit blogs.nottingham.ac.uk/studentlife and
blogs.nottingham.ac.uk/internationalstudentlife to read the
blogs.
Please get in touch if you would like to visit the school. We can
help you plan your visit. You will have the chance to meet staff,
see facilities, tour our campus and see if Nottingham is the place
for you.
For both UK and international students social media is a fantastic

way to connect with others before you arrive. We have a range of
channels; to find links to these go to
www.nottingham.ac.uk/connect
Contact us
You can also like our Facebook page or follow us on Twitter.
School of Economics
Sir Clive Granger Building
The University of Nottingham
University Park
Nottingham
NG7 2RD
UoNEconomics
@UoNEconomics
t: +44 (0)115 951 5559

For any enquiries please visit www.nottingham.ac.uk/enquire
Funding information can also be found on the school website.
For postgraduate research courses please see

www.nottingham.ac.uk/economics/phd-finance
* Students who will be studying an English presessional course at the
Centre for English Language Education will always need a Tier 4 visa.
If you require this publication in an

alternative format, please contact us:
t: +44 (0)115 951 5559
e: alternativeformats@nottingham.ac.uk
This brochure has been drafted in advance of the academic year to which it applies. Every
effort has been made to ensure that the information contained in this brochure is accurate at
the time of publishing, but changes (for example to course content) are likely to occur given the
interval between publication and commencement of the course. It is therefore very important to
check our website for any updates before you apply for the course by following
www.nottingham.ac.uk/pgstudy. Where there is a difference between the contents of this
brochure and our website, the contents of the website take precedence.
The University of Nottingham 2016.
All rights reserved.
22
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We are delighted that you are interested in studying postgraduate

Front cover image:

We are consistently placed in the worlds top 50 economics departments

Students sharing their work

Why study economics

Nottingham is in the top 1% of universities worldwide,

Postgraduate study is challenging and all our students benefit

At the heart of this success is the Universitys commitment to

Once you have completed your studies, you will become

In the latest Research Excellence Framework, the University

To find out more about The University of Nottingham, including

The School of Economics is housed in the Sir Clive

In the most recent Research Excellence Framework the

ESRC Doctoral Training Partnership

The University of Nottingham has joined forces with five other

The school is highly regarded and established as one of

These research centres, and the School of Economics,

Consistently ranked in the UK top 10 by The Times and

Choice and flexibility

A University which supports you

As one of the largest economics departments in the UK, we

One-to-one expert supervision

All MSc students receive one-to-one supervision for their

All MSc students are allocated to an academic who will be

The University of Nottingham provides a wide range of support

Dual degree option

The School of Economics has professional links with the

Our courses provide excellent preparation for employment in a

The school has a long history of providing MSc Economics

You will receive one-to-one supervision from an academic who

Our MSc courses are designed to bring you to the forefront

Modules are taught with a combination of lectures, tutorials,

This course is a significant new masters programme

It exposes students to contemporary economic thinking and

It is designed for students intending to prepare for an

At the end of the course, you will be able to read and

This Economics MSc course will provide you with specialist

This course is tailor made for

Start date: September

This course provides the technical tools required for

Students relaxing in the Sir Clive

MSc Economics of Financial

Unlike a typical Economics MSc, this course has core

This Economics of Financial and Monetary Policy MSc course

Professor Richard Upward

MSc Economic Development

This course is taught by economists with substantial

Behavioural economics is a rapidly expanding field,

There is a focus on applications to and in developing countries,

Our research-led approach to teaching guarantees an exciting

It is designed for students aiming for a career as an economist

At the end of this course you will be able to read and

Academic staff involved in delivering the course have

This Economic Development and Policy Analysis MSc course

Content for this course is informed by the world leading

This Behavioural Economics MSc course will provide you

MSc Economics and

This Economics and Development Economics MSc course

This Economics and Econometrics MSc course will

This Economics and Financial Economics MSc course will

MSc Economics and