The Student Room Group

How competitive is Post Grad Economics?

Its well known that Undergraduate Economics is very competitive, offer grades are high and demand is huge. But what about Post Graduate?

Ignoring the crazy expensive Oxbridge / London unis how hard is it really to get a place?

Entry requirements mostly seem to say 2.1 or better, but is a First really what is expected?
Original post by TopBun
Its well known that Undergraduate Economics is very competitive, offer grades are high and demand is huge. But what about Post Graduate?
Ignoring the crazy expensive Oxbridge / London unis how hard is it really to get a place?
Entry requirements mostly seem to say 2.1 or better, but is a First really what is expected?

Depends where you're applying to and applying from, but generally MSc Economics courses aren't very competitive. The cost is a usually a much greater constraint than grades. Generally people can go to a much better uni for their MSc than their undergrad uni.
Reply 2
Thank you for the quick reply @Ben

Having looked at the fees side of courses the cost seems to vary dramatically at the better unis. So are you suggesting a solid 2.1 and the ability to pay the fees would get you in to the uni of your choice? (FWIW Warwick, Manchester, Nottingham are more likely than the elite Econ unis)

Its a long time since I went from BSc to my first Masters (Science not Econ), but back then a lot seemed to hinge on the interview and whether they liked you
Original post by TopBun
Thank you for the quick reply @Ben
Having looked at the fees side of courses the cost seems to vary dramatically at the better unis. So are you suggesting a solid 2.1 and the ability to pay the fees would get you in to the uni of your choice? (FWIW Warwick, Manchester, Nottingham are more likely than the elite Econ unis)
Its a long time since I went from BSc to my first Masters (Science not Econ), but back then a lot seemed to hinge on the interview and whether they liked you
You don't have to do interviews for UK MSc Economics courses, so whether they like you isn't really a factor. If you can pay the fees, and your undergrad grades are consistent with you getting a decent 2.1 or a 1st, they'll usually just give you an offer asking for what their entry requirements state.

The main constraint is the content of your undergrad. Sure, you can upgrade the level of your uni a lot when moving from undergrad to master's, but it's sometimes the case that the master's uni expect you to know XYZ as prerequisite knowledge, and this can be stuff you were never taught at undergrad level. I know people who went to a mediocre undergrad then onto a good MSc and struggled for the first term as they were expected to know things they'd never come across before as their undergrad hadn't reached that level.
(edited 2 months ago)
Reply 4
thanks again, as ever super useful :smile:

My daughter is currently in yr2 Economics and Politics and has been considering Postgrad Econ for a while because of concerns around employability and not knowing what career options to pursue - she has been careful to pick useful optional modules and we have been working through the course content for a couple of Unis that really appeal
Original post by TopBun
thanks again, as ever super useful :smile:
My daughter is currently in yr2 Economics and Politics and has been considering Postgrad Econ for a while because of concerns around employability and not knowing what career options to pursue - she has been careful to pick useful optional modules and we have been working through the course content for a couple of Unis that really appeal
I appreciate the desire to extend one's time at university if they haven't got things all figured out with respect to what sort of career they want. However, I'm generally not a massive advocate for people dropping £30k+ (fees & living costs) on a one year course if they don't even know whether they want a career in that field.

Moreover, MSc Economics courses are quite niche and they're not useful in a way that an undergrad in economics/joint honours economics course is. They're really only useful if you want to become an economist as a career, or go on to do a PhD in economics, or you're just incredibly passionate about economics. The sort of content you learn in a MSc Economics is pretty useless outside of the economics profession, academia, and maybe some finance jobs.

Your daughter still has time on her hands as she's only finishing the first semester of her second year. Therefore, my recommendation would be for her to try to obtain as much internship/work experience as possible before the end her degree - placement years are also a very good option. This should help her to narrow down what she's interested/not interested in. After that, it's sensible to think about whether a MSc Economics helps her to achieve her early career ambitions - it also means you can tailor the specific uni/course that fits best with what you want to do afterwards.

Just doing an MSc Economics course because it leads on from her undergrad while not knowing what she wants to do afterwards probably isn't advisable. You've also got to remember that most graduate recruitment takes place in September to November for the following year, so if she wants a grad job for when she finishes a master's, there won't be time for her to figure what she wants to do for a career during the master's - you have to apply to things as soon as you start the course.
(edited 2 months ago)
Original post by TopBun
thanks again, as ever super useful :smile:
My daughter is currently in yr2 Economics and Politics and has been considering Postgrad Econ for a while because of concerns around employability and not knowing what career options to pursue - she has been careful to pick useful optional modules and we have been working through the course content for a couple of Unis that really appeal

I wouldn't do a panic masters because the way you repay your student loan for them is a lot more punitive. I would look for internships and experience (start local work your way up to bigger schemes) to work out what she wants to do. Only do a masters if you need it.

Quick Reply