MSc Economics

Postgraduate Entry Requirements

Academic Qualifications: Applicants should have successfully completed a bachelor's degree or its equivalent from a recognized institution with a minimum overall score of 60% or equivalent.

English language proficiency:

• IELTS: A minimum overall score of 6.5 or 7.0 with no individual component below 6.
• TOEFL: A minimum overall score of 100.
• PTE Academic: A minimum overall score of 76.
• Some postgraduate programs may have specific subject prerequisites or additional requirements.

Cardiff University offers a range of scholarships to support international students pursuing undergraduate and postgraduate studies. These scholarships are designed to attract high-achieving students from around the world, easing the financial burden and recognizing academic excellence. 

Vice-Chancellor’s International Scholarship: Cardiff University’s Vice-Chancellor’s International Scholarship is a merit-based award that provides partial funding for exceptional international undergraduate and postgraduate students. This scholarship rewards high academic achievement and study, making it ideal for students with strong academic backgrounds.

Global Wales Postgraduate Scholarship: This scholarship offers substantial funding to international postgraduate students from certain countries, including the USA, India, Vietnam, and EU nations. The scholarship covers part of the tuition fees and is awarded based on academic merit and potential for success.

Chevening Scholarship: Offered in collaboration with the UK government, the prestigious Chevening Scholarship is available to international students who demonstrate leadership potential and academic excellence. The award covers tuition fees, living expenses, travel costs, and other allowances, supporting future leaders and influencers in various fields.

Commonwealth Master’s Scholarships: For students from Commonwealth countries, the Commonwealth Master’s Scholarships provide funding for postgraduate students who would otherwise be unable to study in the UK. The scholarship includes full tuition, living expenses, and airfare, ensuring accessibility for students from developing nations.

British Council GREAT Scholarships: Cardiff University partners with the British Council to offer the GREAT Scholarships for students from specific countries, including China, India, Malaysia, and Thailand. These scholarships provide financial assistance for tuition fees and are intended to encourage bright students to pursue postgraduate studies in the UK.

Subject-Specific Scholarships: Certain academic departments at Cardiff University offer additional scholarships tailored to specific fields of study, such as engineering, business, and life sciences. These scholarships provide partial funding and are aimed at attracting talented students to specific programs.

Financial Aid and External Scholarships: In addition to Cardiff University scholarships, students can explore external funding options such as loans, grants, and scholarships provided by their home countries or private organizations. The university’s financial aid office offers guidance to help students find external financial support.

Graduates of the MSc Economics program at Cardiff University are well-equipped to pursue a wide range of career opportunities in both the public and private sectors. The program provides a robust foundation in economic theory, quantitative analysis, and policy evaluation, which are highly valued by employers across various industries.

Economic Consultant: Graduates can work as economic consultants, providing advice to businesses, government agencies, or international organizations. Consultants use their analytical skills to assess economic trends, develop strategies, and offer insights into issues like market behavior, policy development, and economic forecasting. This role often involves research, data analysis, and the communication of findings to clients.

Policy Analyst: Policy analysts focus on researching and developing policies for governments, think tanks, or research organizations. With their expertise in economic theory and data analysis, MSc Economics graduates can evaluate the potential effects of proposed policies on issues like taxation, welfare, labor markets, and trade. They may work for local or national governments, international organizations, or nonprofit organizations.

Financial Analyst: In financial institutions such as banks, investment firms, or insurance companies, graduates of the MSc Economics program can work as financial analysts. These professionals assess financial data, develop economic forecasts, and advise on investment strategies. They analyze market trends, financial reports, and economic conditions to make recommendations about business and investment decisions.

Economist: Graduates can pursue roles as economists in public sector organizations, international organizations (such as the United Nations or the World Bank), or private sector companies. Economists use advanced analytical techniques to study economic trends, conduct market research, and provide recommendations on issues such as inflation, unemployment, and economic growth. These roles may involve publishing research, advising policymakers, or shaping economic strategies.

Data Analyst: With a solid grounding in econometrics and statistical methods, MSc Economics graduates can work as data analysts, interpreting complex datasets to uncover economic insights. These roles exist across a wide range of industries, including finance, government, healthcare, and technology, where data analysis is crucial for decision-making and strategic planning.

Market Research Analyst: Graduates can also work as market research analysts, gathering and analyzing data about consumer behavior, market trends, and business performance. These professionals use economic models to help companies understand market conditions and consumer preferences, enabling businesses to optimize pricing strategies, marketing campaigns, and product development.

Researcher: Graduates can pursue academic or industry-based research roles. In these positions, they may conduct studies on a variety of economic topics, from labor markets to international trade, and contribute to the development of economic theory. These roles can be found in universities, research institutes, or consulting firms, where they may publish reports or provide insights to organizations and policymakers.

International Development Specialist: With a focus on global economics, graduates can pursue careers in international development. They can work for international agencies, NGOs, or government departments focused on addressing economic issues in developing countries. These roles involve assessing economic conditions, providing recommendations for growth, and helping implement projects aimed at reducing poverty and inequality.

Investment Banker: MSc Economics graduates can also enter the field of investment banking, where they can use their analytical and financial skills to advise clients on mergers, acquisitions, and other investment opportunities. They may also be involved in the development of financial products and services that help clients meet their financial goals.

Corporate Strategy Analyst: Many large corporations hire economists to help them with strategic decision-making. Graduates of the MSc Economics program can work as corporate strategy analysts, helping businesses assess market conditions, forecast trends, and make data-driven decisions. They may work in industries such as technology, energy, retail, and manufacturing, providing valuable insights into pricing, competition, and business growth strategies.

Government Analyst: MSc Economics graduates can pursue careers in government, where they analyze economic data, contribute to the formulation of public policies, and assess the effects of governmental programs. They may work in a range of sectors, including public finance, taxation, or social policy, helping governments make informed decisions on economic issues.

Teacher/Lecturer in Economics: For those with an interest in academia, a career as a teacher or lecturer in economics at schools, colleges, or universities is a viable option. Graduates can teach the next generation of economists, as well as engage in independent research, contributing to the academic community through publications and conferences.