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Which MSc programs are best for Econ Policy/Central Banking?

Hi everyone! I'm an economist from Argentina, and I'm 28 years old. I have already completed my BSc in Economics and an MSc in Applied Economics, both with honors in Argentina. I currently work at the Central Bank of Argentina, and I want to pursue a second master's degree at a top-ranked university in the UK (ideally through a Chevening Scholarship).

After researching quite a bit about different programs and universities, I think I'm a little lost regarding which one would be ideal for me. For those familiar with the American structure of postgraduate courses, I’m looking for something similar to an MPA with a specialization in Econ Policy/Central Banking. The challenge is that many MPAs/MPPs in the UK seem to be more qualitative than quantitative, and when I do find some interesting programs (usually in Money/Banking), they often belong to mid- or lower-ranked universities.

Here is a list of programs that I believe might suit me, ranked in descending order based on the reputation of each school (please feel free to correct me if I’m wrong):
- LSE: MSc in Economic Policy for International Development
- LSE: MSc in International Political Economy
- King's College: MSc in Economics and Policy
- Bristol: MSc in Banking, Regulation and Financial Stability
- Glasgow: MSc in Economics, International Banking and Finance
- Birmingham: MSc in Money, Banking and Finance
- Liverpool: MSc in Money, Banking and Financial Economics
- Lancaster: MSc in Money, Banking and Finance

There’s no single correct answer here. I would really appreciate any insights or recommendations you could share regarding which option from the list might be better or if there are other great programs I haven’t considered. Thanks a lot, everyone!
(edited 1 month ago)
Original post by patotemperley
Hi everyone! I'm an economist from Argentina, and I'm 28 years old. I have already completed my BSc in Economics and an MSc in Applied Economics, both with honors in Argentina. I currently work at the Central Bank of Argentina, and I want to pursue a second master's degree at a top-ranked university in the UK (ideally through a Chevening Scholarship).
After researching quite a bit about different programs and universities, I think I'm a little lost regarding which one would be ideal for me. For those familiar with the American structure of postgraduate courses, I’m looking for something similar to an MPA with a specialization in Econ Policy/Central Banking. The challenge is that many MPAs/MPPs in the UK seem to be more qualitative than quantitative, and when I do find some interesting programs (usually in Money/Banking), they often belong to mid- or lower-ranked universities.
Here is a list of programs that I believe might suit me, ranked in descending order based on the reputation of each school (please feel free to correct me if I’m wrong):
- LSE: MSc in Economic Policy for International Development
- LSE: MSc in International Political Economy
- King's College: MSc in Economics and Policy
- Bristol: MSc in Banking, Regulation and Financial Stability
- Glasgow: MSc in Economics, International Banking and Finance
- Birmingham: MSc in Money, Banking and Finance
- Liverpool: MSc in Money, Banking and Financial Economics
- Lancaster: MSc in Money, Banking and Finance
There’s no single correct answer here. I would really appreciate any insights or recommendations you could share regarding which option from the list might be better or if there are other great programs I haven’t considered. Thanks a lot, everyone!
What are you hoping to get out of the 2nd master's and what would you be looking to do afterwards career-wise?
Hi @BenRyan99! Thank you for reading and replying. It is very common in Argentina (and I would say in Latin America in general) to pursue a first master's degree in your home country to build a stronger profile for a second program overseas. Since both my undergraduate and graduate studies focused on what I could class as "core" Economics, I am now interested in something more specialized that could provide me with useful tools for decision-making in what I hope will be a future role as a policy-maker, but with a quantitative scope.

So far, I've taken mostly econ-related courses that helped me perform "analyst" tasks. Now, thinking about my future career, I want to enroll in a program that can help leverage my analytical skills while gaining a better understanding of how things actually work in policy and organizations. I'm interested in returning to LATAM after the MSc to pursue more senior roles with greater influence, aiming to move beyond an analyst position.
Original post by patotemperley
Hi @BenRyan99! Thank you for reading and replying. It is very common in Argentina (and I would say in Latin America in general) to pursue a first master's degree in your home country to build a stronger profile for a second program overseas. Since both my undergraduate and graduate studies focused on what I could class as "core" Economics, I am now interested in something more specialized that could provide me with useful tools for decision-making in what I hope will be a future role as a policy-maker, but with a quantitative scope.
So far, I've taken mostly econ-related courses that helped me perform "analyst" tasks. Now, thinking about my future career, I want to enroll in a program that can help leverage my analytical skills while gaining a better understanding of how things actually work in policy and organizations. I'm interested in returning to LATAM after the MSc to pursue more senior roles with greater influence, aiming to move beyond an analyst position.
From the sounds of it, the main economic policy institutions operate in a different way to in Argentina.

Over here, there are three general routes into UK economic policymaking roles:

1) You can often just go straight into policy adviser roles at the main economic institutions (e.g. BoE/HMT) straight after an undergraduate degree. Normally there's a distinction in roles between these policy advisers and economists, the latter of which are expected to be much more technical.

2) The second route is to do a PhD in economics or whatever the subject you want to advise on.

3) Working as an economist in analyst positions, slowly getting promoted and taking on more responsibility as you go.

As a result, there aren't really many courses suited to the sort of thing it sounds like you're looking for - i.e. because you don't need a master's in economics policy or public policy to move into a policymaking career, either straight from university or from an economic 'analyst' role.

LSE's MPA is meant to be decent, I know senior civil servants in the UK sometimes do this course when trying to move into leadership roles - though I don't think this would be particularly useful for moving up within a central bank. Warwick has a course in Global Central Banking & Financial Regulation, and while the uni is good and prestigious, the course isn't as you can do it online & PT, and it's offered freely to staff at the BoE.

My general view is that there are much better courses outside of the UK for the sort of thing you're looking for. As you say, these courses are much more common in the US, and they have a tonne of great unis - though I recognise they're very competitive and expensive. The alternative would be to look at courses at top economics unis in continental Europe. Barcelona's GSE has a MSc in macro policy and finance, as well as a MSc in economics or public policy. PSE have a great master's in analysis and economic policy. The Toulouse School of Economics has an applied policy track for their international economics master's. These are just off the top of my head but there's dozens of top European economics departments, some of which will have a economic policy master's, so I would check them all out rather than looking at these UK courses.
(edited 1 month ago)
Original post by patotemperley
Hi everyone! I'm an economist from Argentina, and I'm 28 years old. I have already completed my BSc in Economics and an MSc in Applied Economics, both with honors in Argentina. I currently work at the Central Bank of Argentina, and I want to pursue a second master's degree at a top-ranked university in the UK (ideally through a Chevening Scholarship).
After researching quite a bit about different programs and universities, I think I'm a little lost regarding which one would be ideal for me. For those familiar with the American structure of postgraduate courses, I’m looking for something similar to an MPA with a specialization in Econ Policy/Central Banking. The challenge is that many MPAs/MPPs in the UK seem to be more qualitative than quantitative, and when I do find some interesting programs (usually in Money/Banking), they often belong to mid- or lower-ranked universities.
Here is a list of programs that I believe might suit me, ranked in descending order based on the reputation of each school (please feel free to correct me if I’m wrong):
- LSE: MSc in Economic Policy for International Development
- LSE: MSc in International Political Economy
- King's College: MSc in Economics and Policy
- Bristol: MSc in Banking, Regulation and Financial Stability
- Glasgow: MSc in Economics, International Banking and Finance
- Birmingham: MSc in Money, Banking and Finance
- Liverpool: MSc in Money, Banking and Financial Economics
- Lancaster: MSc in Money, Banking and Finance
There’s no single correct answer here. I would really appreciate any insights or recommendations you could share regarding which option from the list might be better or if there are other great programs I haven’t considered. Thanks a lot, everyone!

Hi @patotemperley
I'm currently studying a MSc at Lancaster university, although its not in economics I can provide some insight into Lancaster University. Lancaster is a well respected university in the UK that consistently places highly in the university rankings. The university offers lots of support whilst you study here, with an amazing careers service that offer lots of advice, workshops and mentor opportunities to improve your career prospects.
Lancaster university is located in North west England and the city of Lancaster is really historic and has lots of community events which run throughout the year, which makes it a lovely place to study.
If you have any questions about Lancaster, feel free to ask!
-Jasmine (Lancaster Student Ambassador)
Original post by BenRyan99
From the sounds of it, the main economic policy institutions operate in a different way to in Argentina.
Over here, there are three general routes into UK economic policymaking roles:
1) You can often just go straight into policy adviser roles the main economic institutions (e.g. BoE/HMT) straight after an undergraduate degree. Normally there's a distinction in roles between these policy advisers and economists, the latter of which are expected to be much more technical.
2) The second route is to do a PhD in economics or whatever the subject you want to advise on.
3) Working as an economist in analyst positions, slowly getting promoted and taking on more responsibility as you go.
As a result, there aren't really many courses suited to the sort of thing it sounds like you're looking for - i.e. because you don't need a master's in economics policy or public policy to move into a policymaking career, either straight from university or from an economic 'analyst' role.
LSE's MPA is meant to be decent, I know senior civil servants in the UK sometimes do this course when trying to move into leadership roles - though I don't think this would be particularly useful for moving up within a central bank. Warwick has a course in Global Central Banking & Financial Regulation, and while the uni is good and prestigious, the course isn't as you can do it online & PT, and it's offered freely to staff at the BoE.
My general view is that there are much better courses outside of the UK for the sort of thing you're looking for. As you say, these courses are much more common in the US, and they have a tonne of great unis - though I recognise they're very competitive and expensive. The alternative would be to look at courses at top economics unis in continental Europe. Barcelona's GSE has a MSc in macro policy and finance, as well as a MSc in economics or public policy. PSE have a great master's in analysis and economic policy. The Toulouse School of Economics has an applied policy track for their international economics master's. These are just off the top of my head but there's dozens of top European economics departments, some of which will have a economic policy master's, so I would check them all out rather than looking at these UK courses.
Ben, thank you so much for your answer. You’ve been incredibly helpful in providing these details and suggestions.

I hadn’t heard about Warwick’s course in Central Banking. Looks promising, but unfortunately, doesn’t align with my goal of spending a full year abroad. I had already heard about Barcelona GSE’s MSc, but as far as I know, financing can be quite challenging there (at least for argentinians). There’s also an MSc in Banking and Financial Regulation offered by the University of Navarra, which comes with an interesting scholarship from Fundación Carolina. It’s something I’ve considered, but more as a third option for now.

Thank you once again for your generosity. I hope I'll be able to reply to these messages in a year or so with an update on how things turned out for me :smile:
(edited 1 month ago)
Original post by patotemperley
Ben, thank you so much for your answer. You’ve been incredibly helpful in providing these details and suggestions.
I hadn’t heard about Warwick’s course in Central Banking. Looks promising, but unfortunately, doesn’t align with my goal of spending a full year abroad. I had already heard about Barcelona GSE’s MSc, but as far as I know, financing can be quite challenging there (at least for argentinians). There’s also an MSc in Banking and Financial Regulation offered by the University of Navarra, which comes with an interesting scholarship from Fundación Carolina. It’s something I’ve considered, but more as a third option for now.
Thank you once again for your generosity. I hope I'll be able to reply to these messages in a year or so with an update on how things turned out for me :smile:
Wishing you luck!

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