Economics | MSc | University of Lincoln

Dr Aleksandar Vasilev - Programme Leader

Dr Aleksandar Vasilev is Programme Leader for the MSc Economics. He is a macroeconomist with two books, more than 90 published articles in peer-reviewed journals with impact factor, and 25 technical reports.

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Welcome to MSc Economics

Intended for students with a prior degree in the economics field, the MSc in Economics aims to extend an existing knowledge and skills base in economics and quantitative methods while enhancing critical and analytical skills. It is an intensive course combining advanced study and research.

The course aims to provide students with the opportunity to analyse the current dynamic environment within the context of appropriate contemporary theory and research,. With appropriate levels of sophistication, they can develop the tools and frameworks to analyse issues. Through this process, students can acquire skills that will better enable them to explore and analyse new issues as they emerge.

The course offers digitally-based transferable skills for those aiming for a career as a professional economist in government, financial institutions, business, commerce, international agencies and other similar organisations. By featuring strong research and enquiry skills, it also aims to help those wanting to progress to a PhD.

How You Study

This is a one-year Master's degree featuring four theory modules and two econometrics modules. Development economics features as a core to reflect the Biennial Development conference run by LiBS. The dissertation will give students the chance to work with one of the department's experienced lecturers on a selected topic and apply your knowledge to a specific problem.

The quantitative methods provided in the econometrics modules include: instrumental variables and two stage least squares; method of moment estimation; simultaneous equations models; forecasting; qualitative and limited dependent variable techniques; and panel data modelling.

Topics in Economics include: dynamic stochastic general equilibrium models; closed economic equilibrium; competitive equilibrium dynamics; consumer theory; consumption dynamics; Investment; real-business-cycle models; game theory; and information economics.

An Introduction to Your Modules

† Some courses may offer optional modules. The availability of optional modules may vary from year to year and will be subject to minimum student numbers being achieved. This means that the availability of specific optional modules cannot be guaranteed. Optional module selection may also be affected by staff availability.

Applied Econometrics for Economics and Finance 2023-24ECO9206MLevel 72023-24This module aims to illustrate the further techniques of empirical investigation in economics by using real-world empirical applications in the fields related to economics and finance. The topics covered will reflect the development of contemporary applied econometrics. It can also advance students analytical skills of using econometrics software and packages that are essential for students who wish to pursue a professional career in economics, finance or related disciplines.CoreApplied Economic Issues 2023-24ECO9214MLevel 72023-24In the spirit of student as producer, the aim of this module is to inculcate the student in the enquiry process with the production of a short piece of original research being the outcome. Students will be applying a certain range of methods and tools that they might be expected to undertake as practitioners. To add a further real-world dimension, this is to be undertaken collaboratively.CoreBehavioural Economics 2023-24ECO9220MLevel 72023-24This module presents important concepts and insights from Behavioural Economics. It considers applications from various areas, eg, Microeconomics, Macroeconomics, Experimental Economics, Economic Policy and Finance. The module will cover different ways to depart from the assumption of economic agents as homo oeconomicus, ie, agents with standard preferences, rational behaviour and rational expectations. These departures from homo oeconomicus include cognitive biases, simple rules and heuristics, and non-standard preferences. Next, the consequences of relaxing rationality assumptions are discussed on a wide range of applications. The module will also discuss empirical and experimental support for different behavioural models.CoreDissertation and Research Design for Finance 2023-24FIN9105MLevel 72023-24The dissertation provides the opportunity to demonstrate the ability to reflect critically on the aspects relating to their Master's programme. The vehicle will be the researching and writing of a dissertation, based on the methods delivered in the pre-requisite QM modules. The dissertation is the capstone of the Master's learning process and allows the student to demonstrate mastery in scholarship of a programme related topic that they have selected in amalgamation with supervisory tutors.CoreEconometrics for Economics and Finance 2023-24ECO9210MLevel 72023-24This module builds upon the principles and methods of statistics and introduces classical econometric modelling by using cross-sectional and panel data. It also aims to equip students with analytical skills of using econometrics software and packages that are essential for students who wish to pursue a professional career in economics, finance or related disciplines. Real-world data will be used in this module to facilitate learning and to develop problem-solving skills.CoreTopics in Macroeconomic Theory 2023-24ECO9215MLevel 72023-24The module covers the fundamental models in the economic growth and key macroeconomic issues in the field of modern macroeconomics. The emphasis will be on learning theoretical concepts and analytical techniques, as an aide to understanding contemporary macroeconomic problems. The deterministic growth models will be used to shed light on the often mysterious process of economic growth at both world and country levels, as well as on income and growth differences across countries.CoreTopics in Microeconomics 2023-24ECO9217MLevel 72023-24This module presents the techniques necessary to analyse microeconomic problems on an advanced level. During this module students will study how and under what conditions markets and market-clearing prices achieve an efficient allocation of resources, the distributional properties of the market equilibrium and the role of the government, and problems of asymmetric information. The module provides the foundation for advanced modules in International Trade, Industrial Organisation, Behavioural Economics as well as for the micro-foundations of macroeconomic models.CoreTrade and Development 2023-24ECO9007MLevel 72023-24Since the World Trade Organisation was established in 1995, by cutting trade barriers, particularly by developing countries, the pattern of trade has changed significantly. However, removing trade barriers and opening up markets do not necessarily generate development in practice. Rich countries and large multinational corporations dominate the global marketplace and, in turn, trade. This is inherently unequal with poor countries seldom experiencing rising well-being but are forced to deal with increasing unemployment, poverty, and income inequality.CoreEnvironmental Economics 2023-24ECO9224MLevel 72023-24This module entails the application of economic analysis to environmental issues that are increasingly prominent policy concerns features the concepts of market failure, public goods, externalities, economic efficiency, economic welfare, and sustainability in relation to the economic analysis of the environment and natural resources. It aims to cover the most important areas of environmental economics, including cost-benefit analysis of environmental projects/policies and economic valuation of the environment.OptionalInternational Macroeconomics and Finance 2023-24FIN9026MLevel 72023-24This module equips students with an in-depth and applied-oriented understanding of theoretical and empirical problems addressed in the field known as International Finance (also known as International Macroeconomics / Open Macroeconomics) and to bring students up to the research frontier in International Finance. It draws heavily on financial modelling and financial econometrics.OptionalMachine Learning Applications in Finance and Economics 2023-24ECO9221MLevel 72023-24Machine learning has become more prominent recently due to the availability of vast amounts of data and more affordable computing power. Machine learning excels at handling large and complex volumes of data with more variables than observations, something the business, policy, economics and finance has in increasing quantities. Leading banks and financial services companies are deploying AI technology, including to streamline their processes, optimise portfolios, decrease risk and underwrite loans among other things. Having the skills to master sift through the plethora of data, to find useful patterns will be highly prized over the coming years.OptionalMonetary Economics 2023-24ECO9222MLevel 72023-24The module aims to develop understanding of why monetary policy matters, what central banks can do to improve the financial markets and economic performance through the use of conventional and unconventional monetary policy instruments and when monetary policy decisions may be impotent. It also aims to help students to gain skills of economic analysis to the conduct monetary policy under uncertainties considering recent the global financial crisis.Optional

Fees and Funding

For eligible students, there are more ways than ever before to fund your postgraduate study, whether you want to do a taught or research course. For those wishing to undertake a Master's course, UK students can apply for a loan as a contribution towards the course and living costs. Loans are also available to those who wish to undertake doctoral study. The University offers a number of scholarships and funded studentships for those interested in postgraduate study. Learn how Master's and PhD loans, scholarships, and studentships can help you fund your studies on our Postgraduate Fees and Funding pages.

Programme Fees

Entry Requirements 2023-24

This is a specialist MSc programme. Courses in this category attract entrants who have a background in the subject or a related subject area, acquired through previous study. A 2:2 honours degree or equivalent in Economics or a related subject with a strong quantitative element is required.

Candidates may be invited for interview to provide effective information and guidance or for non-standard entry.

Student Managed Investment Fund

Lincoln International Business School offers the Student Managed Investment Fund (LSMIF), which is an investment fund created, operated, and maintained by students within the school, with everything running within the real-world environment of finance.

Students will be managing real money with the objective of positive returns while managing risk. Industry veteran and long-time lecturer Hao Quach will help support the students throughout, with many years of experience in all aspects of investment banking and 20 years teaching in multiple countries, Hao will use his experience to ensure the stability of the fund and provide guidance. Read more about the Student Managed Investment Fund.

Bloomberg Terminal

Students can take advantage of the Bloomberg Terminal, which is designed to help industry professionals make better-informed investment decisions by offering the latest market news along with historical data and an international network for secure and reliable communication.

Bloomberg Terminal offers a practical resource for students to reinforce the theories they learn in lectures, as well as enable them to become familiar with the tools being used by today’s financial services professionals.

An academic working with a student in the Bloomberg Terminal lab.

Career and Personal Development

The MSc Economics programme is ideal for students wanting to work as a professional economist in government, financial institutions, business, commerce, international agencies, and other similar organisations. It is also suitable for those wanting to progress to a PhD.

Working in Partnership

Lincoln International Business School works with students and organisations to enhance the contribution of business to society. For students, that means developing their business skills and knowledge to improve their career readiness.

The University of Lincoln is a member of AACSB, a global nonprofit association connecting educators, students, and businesses to achieve a common goal: to create the next generation of great leaders. Find out more.

Broaden Your Horizons

Lincoln International Business School students can expand their horizons, visit our partner universities, and see international business in action by joining funded international trips to exciting overseas destinations. Places are awarded competitively to eligible students each academic year.

Find out more about our funded field trip places for students.

Postgraduate Events

Find out more about how postgraduate study can help further your career, develop your knowledge, or even prepare you to start your own business at one of our postgraduate events.

Find out More

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Key Information

MSc Economics