Course Overview

Key Information

• Course Code: TECS-L1I1
• Course Type: Postgraduate Taught
• Qualification: Master of Science (MSc)
• Duration: Full-time: 1 Year
• Start Date: 19 September 2022

Course Overview

Our MSc in Economics and Data Science is for graduates in Economics who would like to pursue and specialize in Data Science and Machine Learning through a postgraduate-level degree. The course links economic theory and empirical economics with the fast developing field of Data Science. You will acquire knowledge and skills in the areas of macroeconomic and microeconomic theory, econometrics, big data, machine learning and coding. An 8,000-word dissertation provides an opportunity to explore your own interests across these fields of study.

You will be automatically enrolled on a pre-sessional Mathematics and Statistics programme to equip you with the relevant methodological skills you need to succeed.

By the end of the course you will have the knowledge of quantitative methods to analyse large amounts of data with the purpose of generating new findings and insights relevant to problems in Economics.

The Student Perspective

Hear Catherine's story of studying MSc Economics at the University of Warwick:

Course Structure and Modules

Course Structure

Following an online Pre-sessional Mathematics and Statistics course for the first two weeks of study, the basic structure below applies to the MSc Economics and Data Science programme:

	Term 1	Term 2	Term 3
Data Science Core Modules	Foundations of Data Science	Machine Learning and Big Data in Economics
Economics Core Modules	Economic Analysis A or B		Dissertation
	Quantitative Methods: Econometrics B
Optional Modules			Optional Module A
			Optional Module B

Core Modules

• Economic Analysis A or B

  Economic Analysis will develop your understanding of advanced macroeconomic and microeconomic analysis, with a more applied version (A) or a more technical/theoretically orientated version (B). The first half of each module will focus on modern macroeconomic theory, covering some of the most important topics, concepts and methods, along with relevant empirical evidence. The second half will focus on understanding key microeconomic principles in game theory.

• Quantitative Methods: Econometrics B

  Econometrics B covers covers fundamental econometrics research skills and also supplements the development of these key and fundamental professional skills by looking at more advanced topics.

• Foundations of Data Science

  The module develops students’ skills in programming languages and their usefulness to acquire, process, clear and analyse large volumes of data efficiently (Big Data). It provides a “hands-on” experience with economic data while developing rigorous foundations of data science methods and techniques.

• Machine Learning and Big Data in Economics

  The module presents the analytical tools and the knowledge to study economic problems using modern data science methods, as well as the challenge posed by identification of causal parameters of interest. The aim is to present the econometric techniques along with the hands-on implementation in the computer language.

• Dissertation

  The dissertation will allow you to develop the skills needed to carry out original research in economics and data science.

Please note:

• For the online Pre-sessional Mathematics and Statistics course you will need a computer with good internet access to allow for this period of study for the online tests.
• Students need to have previously completed undergraduate courses in microeconomics, macroeconomics and econometrics/economic statistics at an intermediate level. The MSc Economics and Data Science is a quantitative degree and students will need to be competent in several areas of mathematics. All students attend a short pre-sessional mathematics and statistics course before the term starts. As a guide, we expect students opting for Economic Analysis B to have obtained the equivalent of a First class mark (70%) in their undergraduate studies, though we will consider a request to take a B variant even if that prerequisite is not met.

Optional Modules

Optional modules may change from year to year. Recently, a selection of the following options have been offered:

• The Economics of Financial Markets
• Monetary Economics
• Labour Economics
• Topics in Applied Microeconomics

Teaching and Assessment

How will I learn?

You will have a combination of lectures, and small group support and feedback classes. You will also learn through independent study, which will include practising coding skills, reading journals and books, completing problem sets and assessments, revising for exams and undertaking research.

In the summer term and summer vacation your independent study time will increase as you complete your research dissertation.

Your dissertation work will normally be individually supervised on a one-to-one basis and we have an effective personal tutor system providing individual support.

Contact Hours

An average of 8 hours of lectures and 3 hours of classes per week.

Class Size

Core modules are in the range of 50-175 students; optional modules vary (10-75) and classes typically average around 15-20 students.

Assessments

For MSc students, assessment is through formal examinations, coursework and an individually supervised research dissertation.

Feedback is a vital part of the assessment process, as it helps you to reach your full potential by identifying the strengths and weaknesses of your work and the actions needed to develop your understanding and enhance your performance.

Feedback is provided in a variety of ways, including:

• Grades and comments on marked work
• Solutions to problem sets
• Verbal feedback from tutors and peers in classes
• Advice and Feedback hours with academic staff
• Personal tutor meetings

Skills from this degree

You will focus on developing a range of important skills, including:

• Rigorous advanced training in economic analysis and techniques, which includes opportunities to contribute to current economic research and debates;

• Analytical approach to thinking about national and international economic problems, policies and decision-making;

• Research skills; use of library and internet as information sources; locating, extracting, analysing, and presenting material;

• Numeracy and quantitative skills; use of mathematics and diagrams, understanding data, statistical analysis;

• IT skills; word processing and spreadsheets; specialist econometric or statistical software; internet applications;

• Written and oral communication skills.

Entry Requirements

Minimum Requirements

Course	Minimum Requirement
MSc Economics and Data Science	Minimum requirements 2:i undergraduate degree (or equivalent) specialising mainly in economics. This means you should have achieved a good standard in undergraduate courses in microeconomics, macroeconomics and econometrics/ economics statistics at an intermediate level. We also expect a good standard achieved in mathematics taken at undergraduate level.

International Students

We welcome applications from students with other internationally recognised qualifications. For more information please visit the international entry requirements page.

We welcome MSc course applications from candidates who have attended a Tier 1 or Tier 2 University in China. Owing to the volume of applications received, we will not consider applications from candidates in other Tiers unless they have completed a joint degree programme with another University.

The list of Universities can be found here.

English Language Requirements

All students will also need to meet our English language requirements (Band A)
IELTS overall score of 6.5, minimum component scores not below 6.0

Fees, Funding and Scholarships

Tuition Fees

For up-to-date information concerning fees, funding and scholarships for Home, EU and Overseas students please visit Warwick's Fees and Funding webpage.

Additional Course Fees

Economics students will need to buy a calculator, at a cost of approximately £10. Social events and trips organised by the department are free of charge.

Scholarships

• 10% Alumni Discount Scheme - If you are a Graduate of the University of Warwick and are of home or overseas fee status, you will be able to access a 10% tuition fee discount on this course.
• Warwick Taught Masters Scholarship scheme - The University of Warwick offers a number of Warwick Taught Masters Scholarships, which are available to eligible Home/EU students from under-represented groups who wish to start a postgraduate taught masters course. The award details, eligibility criteria, and the application process can be viewed on the Warwick Taught Masters Scholarship scheme webpage.
• Further Scholarship Options - The University also offers a wider range of scholarships available.
• Postgraduate Funding - Useful information on fees, the cost of studying in the UK and funding can be found on the postgraduate study pages.
• Postgraduate Loans- A Postgraduate Loan can help with course fees and living costs while you study a postgraduate master's course.

Careers

Key Statistics

Completing an Economics MSc is a great way to enhance your career prospects, and the high-quality reputation of our courses makes our graduates highly sought after by employers. Warwick is the 6th most targeted university by graduate recruiters (The Times Top 100 Graduate Recruiters, 2021). Internationally, Warwick also is ranked 40th in the world for reputation with employers (QS World University Rankings, 2021).

*Based on ‘Most Important Activity’ from the Graduate Outcomes survey of 2017/18 graduates, at approximately 15 months after completion. Contains HESA data: Copyright Higher Education Statistics Agency Limited 2020. HESA cannot accept responsibility for any inferences or conclusions derived by third parties from its data.

Career Pathways

Graduates from the MSc Economics course have gone on to work for employers including: the Bank of China, China Merchants Bank, Deloitte, European Central Bank, Frontier Economics, HM Treasury, HSBC, KPMG and the World Trade Organisation. They have pursued roles such as: economists; analysts; consultants; researchers; business and financial project management professionals; chartered and certified accountants; actuaries; statisticians; quality assurance and regulatory professionals.

Helping you find the right career

Our Department has a dedicated professionally qualified Senior Careers Consultant who can support you. They offer impartial advice and guidance together with tailored workshops and events throughout the year. Previous examples of workshops and events include:

• Careers in Economics Event
• Investment Banking Uncovered
• Warwick careers fairs throughout the year
• Mock Assessment Centre workshops
• Manage your digital identity and use LinkedIn effectively

Find out more about careers support at Warwick.

How to Apply

Find out how to apply to Warwick.