Economics and Data Science MSc

Overview

Our core modules equip you with the tools to extract valuable insights and drive innovation. You'll learn how to improve data-driven decision-making of individuals, firms and governments. You can tailor your degree with a range of optional modules. You'll apply your learning by completing a dissertation using real data.

With this Master’s degree from Newcastle University, you will have developed the skills necessary to excel as a:

• professional economist
• policy maker
• academic researcher

We also offer the following courses for candidates with a substantial background in Economics (undergraduate degree in Economics or equivalent):

• MSc Economics
• MSc Behavioural and Experimental Economics

We offer the following course for candidates without a background in Economics:

• MSc Economics and Finance

Important information

We've highlighted important information about your course. Please take note of any deadlines.

Your course and study experience - disclaimers and terms and conditions

Please rest assured we make all reasonable efforts to provide you with the programmes, services and facilities described. However, it may be necessary to make changes due to significant disruption, for example in response to Covid-19.

View our Academic experience page, which gives information about your Newcastle University study experience for the academic year 2023-24.

See our terms and conditions and student complaints information, which gives details of circumstances that may lead to changes to programmes, modules or University services.

 

What you'll learn

You will acquire advanced skills in:

• economic theory
• quantitative methods
• data analysis

You'll develop strong foundations in econometrics and mathematical economics. We'll equip you with the tools needed to analyse and solve real-world economic problems.

Our programme covers a wide range of topics. These include microeconomics and macroeconomics. You'll be able to delve into advanced concepts and maximise your expertise.

You'll gain hands-on experience with specialist software packages used in the field. You'll become more proficient in data analysis and interpretation.

By the end of the programme, you'll have a deep understanding of economic theory and quantitative techniques. You'll be able to extract meaningful insights from complex datasets.

You will develop essential soft skills valued in today's professional landscape. These include:

• effective communication
• critical thinking
• collaboration

Modules

You will study modules on this course. A module is a unit of a course with its own approved aims and outcomes and assessment methods.

Course content changes

Module information is intended to provide an example of what you will study.

Our teaching is informed by research. Course content changes periodically to reflect developments in the discipline, the requirements of external bodies and partners, and student feedback.

Full details of the modules on offer will be published through the Programme Regulations and Specifications ahead of each academic year. This usually happens in May.

Optional modules availability

Some courses have optional modules. Student demand for optional modules may affect availability.

To find out more please see our terms and conditions.

Economics and Data Science MSc modules

Compulsory modules

• Microeconomics (20 credits)
• Macroeconomics (20 credits)
• Mathematical Analysis (10 credits)
• Econometrics (10 credits)
• Numerical Methods and Scientific Programming (20 credits)
• Applied Data Science (20 credits)
• Dissertation (60 credits)

Optional modules

You take one optional module from the following list.

• Topics in Microeconomics (20 credits)
• Topics in Macroeconomics (20 credits)
• Causal Inference and Applied Microeconometrics (20 credits)
• Applied Time series econometrics (20 credits)
• Experimental Methods in Economics (20 credits)
• Behavioural Economics (20 credits)

You also take the following not-for-credit module:

• Mathematics Foundations (0 credits)

How you'll learn

Delivery and teaching methods

You will be taught through a variety of methods, including:

• lectures
• seminars
• computer classes

This Master’s degree offers you a stimulating curriculum and a supportive learning environment. You'll also be supported by Canvas, a virtual learning environment that allows you to:

• access your courses and groups
• receive notifications and messages
• submit your assignments

Assessment methods

Depending on your modules, you'll be assessed through a combination of:

• Essay
• Problem-solving exercises
• Report
• Written examination
• Written exercise

Student support

Your teaching and learning is also supported by Canvas. Canvas is a Virtual Learning Environment. You'll use Canvas to submit your assignments and access your:

• module handbooks
• course materials
• groups
• course announcements and notifications
• written feedback

Throughout your studies, you’ll have access to support from:

• peers
• academics
• personal tutors
• our University Student Services Team
• student representatives

You'll also be assigned an academic member of staff. They will be your personal tutor throughout your time with us. They can help with academic and personal issues.

Our staff

Our economics staff are specialists in their field.

They have international research reputations and consult for some of the most reputable organisations in the world. Our staff are often asked to give academic insight on a wide variety of topics.

Your development

Access advanced software most frequently used in business and government to support your studies.

Software packages include:

• R
• Python
• Stata

Real business skills

You will have the unique opportunity to apply economic theory to real-world problems, bridging the gap between academia and practical applications. You'll engage in stimulating lectures delivered by specialists at the forefront of their fields. They will provide you with valuable insights and perspectives. As you progress through the programme, you'll develop a critical mindset. You'll challenge and evaluate current research ideas and topics in economics.

Research skills

In the final stages of the dissertation, you will conduct a piece of research that demonstrates further existing knowledge of the research topic area. Our programme prepares you to tackle complex economic challenges with confidence. You'll combine theoretical foundations with hands-on application.

Skills and experience

You will gain practical experience in analysing and solving real-world problems. This will equip you with the skills needed to make informed decisions and propose innovative solutions in any sector.

Your future

On graduating, you will have acquired a wide range of attributes sought after by employers. This includes:

• analytical thinking
• argument formulation
• critical thinking
• problem solving
• data analysis
• communication
• independent learning and research

The MSc Economics degree is a competitive qualification and is seen as a route to lead to high salaries and prospects. The programme will prepare you for jobs in different sectors, such as:

• the government
• the private sector
• central banking
• international organisations
• universities

Graduates may enter roles as:

• economists
• data scientists
• statisticians
• market researchers
• policy analysts
• consultants
• academics

Our Careers Service

Our award-winning Careers Service is one of the largest and best in the country, and we have strong links with employers. We provide an extensive range of opportunities to all students through our ncl+ initiative.

Visit our Careers Service website

Quality and ranking

All professional accreditations are reviewed regularly by their professional body

Recognition of professional qualifications outside of the UK

From 1 January 2021 there is an update to the way professional qualifications are recognised by countries outside of the UK

Check the government’s website for more information.

Facilities

Newcastle University Business School is one of the largest Schools in the University. We have over 3,500 students representing over 80 nationalities. This valuable network extends beyond our current students to include:

• regional, national and international leaders
• over 34,000 alumni in our network, spanning over 150 countries
• leading professionals and practitioners from industry

The Business School is the gateway to Newcastle Helix - an innovation hub and community that brings together industry leaders, businesses and top researchers.

Our facilities include:

• flexible conference room with panoramic views across the city
• Wi-Fi enabled connectivity throughout the building, including three computer clusters housing over 120 PCs
• four large lecture theatres and over 25 seminar and teaching spaces, providing comfortable teaching and group study space
• dedicated Student Hub and Quiet Space, providing a balanced mix of study space for group work or quiet, individual study
• contemporary café
• employability hub to support your career aspirations
• Bloomberg Room to give you a real feel for the trading room floor
• Experimental and Behavioural Economics Lab, a state-of-the-art research facility for conducting studies in experimental economics and economic psychology

The Frederick Douglass Centre at Newcastle Helix also offers further study and learning spaces. This includes a 750 seat auditorium – the largest in the University.

Find out more about Newcastle University Business School

Fees and funding

Tuition fees for 2024 entry (per year)

Tuition fee increases

If your studies last longer than one year, your tuition fee may increase in line with inflation.

EU, other EEA and Swiss nationals - tuition fee status

Depending on your residency history, if you’re a student from the EU, other EEA or a Swiss national, with settled or pre-settled status under the EU Settlement Scheme, you’ll normally pay the ‘Home’ tuition fee rate and may be eligible for Student Finance England support.

EU students without settled or pre-settled status will normally be charged fees at the ‘International’ rate and will not be eligible for Student Finance England support.

If you are unsure of your fee status, check out the latest guidance here.

Scholarships

We support our EU and international students by providing a generous range of Vice-Chancellor's automatic and merit-based scholarships. See our searchable postgraduate funding page for more information. 

What you're paying for

Tuition fees include the costs of:

• matriculation
• registration
• tuition (or supervision)
• library access
• examination
• re-examination
• graduation

Find out more about:

• living costs
• tuition fees

Deposit

If you are an international student or a student from the EU, EEA or Switzerland and you need a visa to study in the UK, you may have to pay a deposit.

You can check this in the How to apply section.

Funding deadlines

If you're applying for funding, always check the funding application deadline. This deadline may be earlier than the application deadline for your course.

For some funding schemes, you need to have received an offer of a place on a course before you can apply for the funding.

Search for funding

Find funding available for your course

Select your country

How to apply

Using the application portal

The application portal has instructions to guide you through your application. It will tell you what documents you need and how to upload them.

You can choose to start your application, save your details and come back to complete it later.

If you’re ready, you can select Apply Online and you’ll be taken directly to the application portal.

Alternatively you can find out more about applying on our applications and offers pages.

Apply Online  

Open days and events

You'll have a number of opportunities to meet us throughout the year including:

• campus tours
• on-campus open days
• virtual open days
• webinars

Find out about how you can visit Newcastle in person and virtually

Overseas events

We regularly travel overseas to meet with students interested in studying at Newcastle University.

Visit our events calendar for the latest events