Explore our Economics Diploma plus Master's degree.
Economics Diploma plus MSc is available for those converting from a first degree subject other than Economics. Train in the core components of modern economic analysis and appropriate quantitative methods within Warwick's Department of Economics, ranked 1st in the UK (The Good University Guide 2023) and 22nd in the World (The QS World University Subject Rankings 2023).
Our Diploma is aimed at students without a background in economics, and will provide training in the core components of modern economic analysis and appropriate quantitative methods. You will acquire the ability to analyse economic problems, both empirically and theoretically, developing knowledge of economic trends, institutions and policy.
The Diploma plus MSc programme is available for those who plan to convert from a first degree subject other than Economics to a Master’s in Economics. Following a successful completion of the Diploma to a required standard you will then be eligible to progress onto our MSc programmes in Year Two.
Frequently Asked Questions
General entry requirements
2:1 undergraduate degree (or equivalent). You must have a strong background in Mathematics and Statistics. This means you should have achieved a good standard in quantitative modules as part of your undergraduate degree, or have at least an A grade at A level Mathematics (or equivalent).
English language requirements
You can find out more about our English language requirementsLink opens in a new window. This course requires the following:
- Band A
- IELTS overall score of 6.5, minimum component scores not below 6.0.
We welcome applications from students with other internationally recognised qualifications.
For more information, please visit the international entry requirements pageLink opens in a new window.
There are no additional entry requirements for this course.
Core modules (Diploma)
On this module, you will learn to understand and apply the core theoretical models used in macroeconomics, for both closed and open economies, in order to enhance your comprehension of real-world macroeconomic experiences, especially involving macroeconomic policy. By the end of this module, you should be able to present clearly and methodically your understanding of a variety of common theoretical models and their inter-relationships, including through the use of equations and graphics. We will typically cover all major areas, including but not limited to, flexible pricing and sticky-price models; consumption and growth; wage-setting and unemployment; fiscal and monetary policy; international trade and exchange rate systems; and international financial markets.
You will gain a solid understanding of intermediate and some advanced principles of microeconomics and be exposed to a range of applications of theory. You will spend time on the use of mathematical concepts in the field for analysis, and cover important principles of general equilibrium and social welfare, market failure, choice and uncertainty, and static and dynamic games of complete and incomplete information. By the end of this module, you will be able to analyse a range of microeconomic concepts, using a range of approaches, including graphical and mathematical techniques and apply your knowledge to policy issues and to the analysis of different sectors.
You'll be equipped with important skills of both academic and vocational value, being an essential part of the intellectual training of an economist and also useful for your future career. This includes an awareness of the empirical approach to economics; experience in analysis and use of empirical data; understanding the nature of uncertainty and methods of dealing with it; and using econometric software packages as tools of quantitative and statistical analysis.
Core modules (MSc)
Microeconomics A or Microeconomics B
Macroeconomics A or Macroeconomics B
These modules will develop your understanding of advanced economic analysis, with more applied versions (A) or more technical/theoretically orientated versions (B). As a guide, we expect students opting for the B versions of Microeconomics and Macroeconomics 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.
Quantitative Methods: Econometrics A or Quantitative Methods: Econometrics B
Econometrics A covers fundamental econometrics research skills and Econometrics B will supplement the development of these key and fundamental professional skills by looking at more advanced topics.
You will have the opportunity to pose an interesting research question in economics, to find the correct methods for analysing the question, including development of theoretical models and/or analysis of data where appropriate, and to write up your results independently.
Optional modules can vary from year to year. Example optional modules for the Diploma may include:
- Economics of Money and Banking
- Mathematical Economics 1A
- Econometrics 2: Time Series
- International Trade
Example optional modules for the MSc may include:
- Topics in Global Finance
- Health Economics
- Game Theory
- Topics in Applied Macroeconomics
You will have a combination of lectures, and small group support and feedback classes.
Throughout the course, you will have many opportunities to apply the principles of economics to practical study. This means what you are learning is highly relevant to real-world issues. We encourage one-to-one interaction with our academics and offer great flexibility in the optional modules that allow you to specialise or diversify your studies.
Diploma (Year One)
Your lecture size will naturally vary, especially for the optional modules, but also for core lectures.
Some of the larger modules may have 200-600 students in them. You will then typically have weekly or fortnightly support and feedback classes with around 15-20 students.
MSc (Year Two)
Core modules range from 50-200 students and classes have typically around 15-20 students.
Typical contact hours
An average of 8-10 hours of lectures and 3 hours of classes per week.
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.
For Diploma students, assessment is through formal examinations and coursework.
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 Support and Feedback Classes
- Advice and Feedback hours with academic staff
- Personal tutor meetings
Your career in Economics
Graduates from our Master’s courses have gone on to work for employers including:
- Bank of America
- Bank of China
- China Merchants Bank
- European Central Bank
- Frontier Economics
- HM Treasury
- World Trade Organisation
They have pursued roles such as:
- Business and financial project management professionals
- Chartered and certified accountants
- Quality assurance and regulatory professionals
Our department has a dedicated professionally qualified Senior Careers Consultant offering impartial advice and guidance together with workshops and events throughout the year. Previous examples of workshops and events include:
- Careers in Economics Webinar Series with speakers from our Economics Alumni community
- Careers in Economics Fair with key employers held annually in November
- Investment Banking Uncovered
- Warwick careers fairs throughout the year
- Mock Assessment Centre workshops
- Manage Your Digital Identity and Use LinkedIn Effectively
Economics at Warwick
We are committed to rigorous training of the next generation of economists in the tools and techniques of the discipline, producing cutting-edge research that has wide and deep impact on society and the economy, and creating strong collaborations. Our work has established Warwick Economics as one of the leading centres of economic research internationally.
We hold regular live chats for prospective students and offer holders. Please see the live chat schedule for Economics.
Our Postgraduate courses
- Behavioural and Economic Science (Economics) (MSc)
- Economics (Diploma plus MSc)
- Economics (MSc)
- Economics and International Financial Economics (MSc)
- MRes/PhD in Economics
Academic Resources Portal
The Department of Economics have put together a portal of academic resources recommended by faculty members for anyone who may be considering studying economics at postgraduate level.
Tuition fees are payable for each year of your course at the start of the academic year, or at the start of your course, if later. Academic fees cover the cost of tuition, examinations and registration and some student amenities.
Fee Status Guidance
The University carries out an initial fee status assessment based on information provided in the application and according to the guidance published by UKCISA. Students are classified as either Home or Overseas Fee status and this can determine the tuition fee and eligibility of certain scholarships and financial support.
If you receive an offer, your fee status will be stated with the tuition fee information. If you believe your fee status has been incorrectly classified you can complete a fee status assessment questionnaire (follow the instructions in your offer) and provide the required documentation for this to be reassessed.
The UK Council for International Student Affairs (UKCISA) provides guidance to UK universities on fees status criteria, you can find the latest guidance on the impact of Brexit on fees and student support on the UKCISA website.
Additional course costs
Please contact your academic department for information about department specific costs, which should be considered in conjunction with the more general costs below, such as:
- Core text books
- Printer credits
- Dissertation binding
- Robe hire for your degree ceremony
Scholarships and bursaries
Find out how to apply to us, ask your questions, and find out more.
How to apply
Applications to our Economics Diploma plus MSc programmes typically open in October and close in June.
Throughout the year we attend exhibitions and fairs online and in-person around the UK. These events give you the chance to explore our range of postgraduate courses, and find out what it’s like studying at Warwick. You’ll also be able to speak directly with our student recruitment team, who will be able to help answer your questions.
Join a live chat with our staff and students, who are here to answer your questions and help you learn more about postgraduate life at Warwick. You can join our general drop-in sessions or talk to your prospective department and student services.
A Warwick talk and tour lasts around two hours and consists of an overview presentation from one of our Recruitment Officers covering the key features, facilities and activities that make Warwick a leading institution. The talk is followed by a campus tour which is the perfect way to view campus, with a current student guiding you around the key areas on campus.