Applications for 2023 entry closed on 15 January 2023. Applications for 2024 entry are expected to open in November 2023.

Find out more about our Economics Master of Research (MRes/PhD).

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MRes/PhD

2 + 4 years full-time

18 September 2023

Economics

University of Warwick

The MRes/PhD course is an integrated Master of Research in Economics, from which students progress to PhD in Economics. You will be taught and guided by top class researchers, at the forefront of their field, and will receive comprehensive support for your entry to the job market. Warwick's Department of Economics, ranked 4th in the UK (The Complete University Guide 2023) and 25th the World (The QS World University Subject Rankings 2022), will provide you with exceptionally high-quality training, skills and techniques in advanced economics.

Our comprehensive 2+4 MRes/PhD research programme offers a unique training opportunity in advanced economics. We aim to provide you with professional training in modern economics, including tools and techniques of analysis at the forefront of the discipline, and opportunities to apply this in extended research.

We offer a two-week Mathematics and Statistics pre-sessional programme, which starts two weeks before the official start of term. The pre-sessional course will provide a thorough grounding in the mathematical techniques required throughout the programme and attendance is highly recommended, although not compulsory.

Warwick Economics was ranked 2nd in the Research Excellence Framework (REF) 2021 and 99% of our research was deemed to be world leading or internationally excellent. We have five separate seminar series running on a weekly basis (term time), with invited eminent speakers from around the world. MRes and PhD students are welcome and encouraged to attend. 

Skills from this degree

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

• Advanced knowledge and understanding of comparative and interdisciplinary approaches.
• Ability to identify and process data to produce original results.
• Knowledge of contemporary theoretical and empirical debates and research outcomes in your chosen specialised areas of economics.
• Sound ability to formulate hypotheses and viable explanations based on received ideas and in combination with other comparable data.
• Ability to critically evaluate existing models with a view to formulating revised or new models.
• Understanding the role of the researcher in policy making and policy analysis.

99% of the Department's research was rated world-leading (4*) or internationally excellent (3*) in the 2021 Research Excellence Framework (REF), placing the Department second in the UKLink opens in a new window. We have five separate seminar series running on a weekly basis (term time), with invited eminent speakers from around the world. MRes and PhD students are welcome and encouraged to attend. 

Areas for PhD supervision 

We have active research groups in:

• Applied Economics
• Economic History
• Development Economics
• Economic Theory
• Econometrics
• Education
• Industrial Economics
• International Economics
• Labour Economics
• Macroeconomics
• Political Economy
• Public Economics
• Experimental and Behavioural Economics

You will be taught by leading academics in the major fields of Economics using a combination of lectures and classes.

You will also be heavily involved in developing your own research under the supervision of one of our leading academics in the form of your MRes dissertation.

Lectures and classes typically have 15-20 students in year one.

In year two class sizes vary between 3 and 15 students.

In year one you will have 9 hours of lectures per week and 4-5 hours of seminars. In year two, teaching is mainly on a seminar basis (6 hours per week).

Assessment is a mixture of class tests, exams, presentations, and referee reports and the MRes dissertation (maximum of 20,000 words).

Pre-Sessional Advanced Mathematics

You are recommended to attend the pre-sessional course in Advanced Mathematics which will be taught in the two weeks before the University’s main term begins. The course is designed to ensure that your maths knowledge and skills are at the standard required for you to succeed on the MRes/PhD course.

Reading lists

Most departments have reading lists available through Warwick Library. If you would like to view reading lists for the current cohort of students you can visit our Warwick Library web pageLink opens in a new window.

Your timetable

Your personalised timetable will be complete when you are registered for all modules, compulsory and optional, and you have been allocated to your lectures, seminars and other small group classes. Your compulsory modules will be registered for you and you will be able to choose your optional modules when you join us.

PhD Programme

If you pass the MRes at a sufficiently high level of performance, you will then proceed to the PhD programme. You will have a maximum of four years to complete the PhD, but are expected to be ready to go on the job market at the beginning of your fourth year and to be ready to submit your thesis in the following spring. We aim to provide you with professional training in modern economics, including tools and techniques of analysis as well as knowledge, and an opportunity to apply this in extended research. Our objective is to produce doctoral students who are able to pursue driven careers at the highest level in academia, government agencies or consultancies.

Please do not write to members of faculty regarding supervision or entry to the PhD, as we do not recruit PhD students in this way.

All of our PhD students must either complete the MRes Economics at Warwick or demonstrate they have completed a two-year MRes at another institution (with a syllabus closely matching that taught at Warwick) and achieved excellent results.

First class undergraduate degree (or equivalent) in a related subject and/or Distinction at Master’s level. A GRE General Test quantitative section score would be useful but not essential. Scores of around 800/166 are typical for previously successful applicants.

• Band B
• IELTS overall score of 7.0, minimum component scores of two at 6.0/6.5 and the rest at 7.0 or above.

There are no additional entry requirements for this course.

Year One

Advanced Microeconomic Theory

The module aims to develop your skills and knowledge of, microeconomics necessary for a career as an academic economist and in all areas where advanced research skills in economics are required. Specifically, it aims to teach you the ability to understand, appreciate, and ultimately contribute to, frontier research. You will develop a thorough understanding of the main techniques of modern microeconomic theory; a detailed knowledge of recent research in key areas of microeconomic theory and be able to apply these to develop microeconomic models in your own research.

Advanced Macroeconomic Analysis

In this module you will focus on the development of the skills and knowledge of advanced macroeconomics, which are fundamental for a career as an academic economist. You will develop a thorough understanding of modern macroeconomic theory; and the ability to read and understand ground-breaking research in macroeconomics published in top journals. For those intending to pursue a career in macroeconomics, the course provides the basic tools required to pursue their own research agenda.

Advanced Econometric Theory

In this module you will focus on another important area of advanced research skills: advanced econometrics. You will develop an advanced understanding of the main aspects of modern econometric theory and techniques used in research at the forefront of the field.

The Practice of Economics Research

The principal aim of this module is to serve as a bridge between theoretical material taught in other year-one core modules and the practical application of theory and methods to concrete research questions, informed by other considerations (such as institutional structures). The focus is on development of the skills needed to conduct research, including identifying and formulating research questions informed by current debates both in academia and outside it (for example in public policy). You will learn to identify appropriate sources and methods, deal with the practical aspects of deploying those methods, and communicate/disseminate research results effectively.

By comparison with the other core modules taken by students in the first year of the MRes programme, this module is distinctive in its emphasis on learning by example and on learning by doing.

Year Two

MRes Dissertation

This module aims to provide you with the opportunity to demonstrate your ability to autonomously investigate and carry out novel research in your chosen area of economics, at PhD level.

• Macroeconomics
• International Economics
• Development Economics
• Advanced Economic Theory
• Economic History
• Political Economic Theory
• Labour Economics
• Advanced Econometrics
• Industrial Organisation and Data Science

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