Economics and Data Science (MSc) (2022 Entry)
About this taught graduate course
Course overview
Our MSc in Economics and Data Science is for graduates in Economics who would like to pursue and specialise 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.
Skills from this degree
The course will give you a unique opportunity to acquire skills from two fields of economics and data science, including:
- Advanced training in economic analysis and techniques, with an emphasis on data science techniques and methods pertaining to applications in economics
- Acquisition, management and processing of large volumes of data
- Computer software and numeracy skills
- Analytical skills to think about national and international economics problems, policies and decision making
General entry requirements
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/ economic statistics at an intermediate level.
We also expect a good standard achieved in mathematics taken at undergraduate level.
English language requirements
You can find out more about our English language requirements. This course requires the following:
- Band A
- IELTS overall score of 6.5, minimum component scores not below 6.0.
International qualifications
We welcome applications from students with other internationally recognised qualifications.
For more information, please visit the international entry requirements page.
Additional requirements
There are no additional entry requirements for this course.
Core modules
Foundations of Data Science
In this module you will develop the 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.
Economic Analysis (A or B)
Economic Analysis will develop your understanding of advanced microeconomic and macroeconomic analysis, with a more applied version (A) or a more technical/theoretically orientated version (B).
Quantitative Methods: Econometrics B
Econometrics B will consolidate your knowledge of the fundamental econometrics research skills and will also give you an opportunity to explore more advanced topics in this area.
Dissertation
The dissertation will allow you to develop the skills needed to carry out original research in economics and data science.
Optional modules
Optional modules can vary from year to year. Example optional modules may include:
- The Economics of Financial Markets
- Monetary Economics
- Labour Economics
- Topics in Applied Microeconomics
Teaching
You will have a combination of lectures, and small group support and feedback classes. You will also learn through independent study, which will include 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.
Class sizes
Core modules are in the range of 50-175 students; optional modules vary (10-75) and classes typically average around 15-20 students.
Typical contact hours
An average of 8 hours of lectures and 3 hours of classes per week.
Assessment
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
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 page.
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.
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
- Citibank
- Deloitte
- EY
- European Central Bank
- Frontier Economics
- HM Treasury
- HSBC
- IMF
- KPMG
- 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
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
- 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
Economics at Warwick
We're an inclusive, diverse community committed to the highest quality research which informs our teaching on our undergraduate and postgraduate programmes. Many of our experts are leaders in their field.
We hold regular live chats for prospective students and offer holders. Please see the live chat schedule for Economics.
Find out more about us on our website.
Our Postgraduate courses
Tuition fees
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.
Taught course fees Research course fees
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, however we are awaiting guidance from the UK government regarding fee status for EU, other EEA and Swiss nationals and their family members living in the UK for academic year 2021/22 onwards. We are not able to confirm the fee status for these students until the relevant eligibility criteria have been confirmed. Once we have received further information from the UK government, we will provide you with an update on your fee status and let you know if any additional information is required. 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
As well as tuition fees and living expenses, some courses may require you to cover the cost of field trips or costs associated with travel abroad. Information about department specific costs 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
Funding routes available
Find out about the many different funding routes available for postgraduate study at Warwick.
Living costs
Find out more about the cost of living as a postgraduate student at the University of Warwick.
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