MRes/PhD Economics
The MRes/PhD programme is offered in twin-track formats. Students on both tracks of the programme will have to complete MRes degree courses, a PhD-qualifying course and research training modules prior to submission of the PhD thesis. The different entrance qualifications of Track 1 and 2 students dictates the sequence and duration of the coursework.
Track 1 is aimed at students graduating with a first class undergraduate degree in economics. Track 2 is for students who have completed a graduate degree in economics and demonstrated exceptional performance.
Programme Structure
Track 1: (5 MRes Papers + 1 PhD-qualifying paper)
Track 1 Students are required to attend EC400, the September Introductory Course before commencing the MRes/PhD programme.
The Programme begins in September with an Introductory Course to ensure that students have the essential background in mathematics, statistics and econometrics for the first year. In the first year, students are required to take core courses in microeconomics, macroeconomics and econometrics.
First year of Track 1:
Students are required to take MRes core courses (papers 1, 2 & 3) in microeconomics, macroeconomics and econometrics.
Second year of Track 1:
Students write an MRes research paper (paper 4) of 5,000-10,000 words and take the first of two field courses (paper 5). Subject to permission, students may be allowed to take their second (PhD qualifying) field simultaneously (paper 6).
Students are required to attend the Methodology Institute training 'Authoring a PhD and Developing as a Researcher' and are strongly encouraged to take advantage of other PhD-level training provided by the Department.
Students are required to attend the weekly Departmental seminar series closest to their major field and the relevant EC501 Work in Progress Seminar and are encouraged to participate in relevant modules of EC524 Empirical Methods in Applied Economics.
Subsequent years of Track 1 (if upgraded to PhD):
In year 3, students take the PhD-qualifying field course (paper 6) if they were not permitted to take it in year 2.
Students must have a detailed research proposal approved and signed by their supervisor by the end of the Michaelmas Term of their third year.
Students continue to attend the weekly Departmental seminar series closest to their major field and the relevant EC501 Work in Progress Seminar, where they present their research.
Students are expected to work on their research and to complete their PhD thesis within two or three years of PhD registration.
Track 1: Summary MRes degree courses, PhD qualifying course, and research training modules:
MRes degree courses (examinable)
1. EC441 Microeconomics for MRes Students
2. EC442 Macroeconomics for MRes Students
3. EC443 Econometrics for MRes Students
4. EC599 Research Paper in Economics
5. One from the Field Selection List below
PhD qualifying course (examinable)
6. One from the Field Selection List below
MRes research training modules (non-examinable)
A. MI5A1 Authoring a PhD and Developing as a Researcher
B. EC524 Empirical Methods in Applied Economics
C. EC501 Work in Progress Seminars
D. In addition, students will be required to attend the weekly Departmental seminar series closest to their major field.
PhD research training modules (non-examinable)
E. MI5A2 Authoring a PhD and Developing as a Researcher
F. MI5A3 Authoring a PhD and Developing as a Researcher
Track 1: Progression to year 2 of MRes in Economics
In order to progress unconditionally from the first to the second year of MRes registration, students should attain the pass mark of 50% (at least) in papers 1, 2 & 3. Students who do not attain this standard may proceed to the second year with up to two resit papers, with the restriction that they can sit a maximum of four exams (including resits) in year 2. Students with more than 2 resits will not be permitted to proceed to year 2.
It is the school's policy that any resit will need to be taken at the next following examination, except where permission has been granted for a candidate to defer the examination until a subsequent year.
Track 1: Award of the MRes in Economics
The award and classification of the MRes degree is consistent with the School's Scheme for the Award of a five-unit Taught Masters Degree. Students are required to achieve a pass mark of 50% in papers 1, 2, 3, 4 & 5. One failed paper (but not a bad fail) can be compensated by a mark of 55% or higher in another paper.
Track 1: Progression to PhD registration
For PhD registration students should obtain three marks of 60% or higher and two marks of 50% or higher in MRes papers 1, 2, 3, 4 & 5. Two marks of 60% or higher are required from the MRes core papers EC441, EC442, and EC443. A mark between 55-59% in one of these core papers can be condoned by a mark of +70% in another core paper.
Students missing the overall progression requirement by one paper are permitted to progress to PhD registration, but will subsequently need to pass the paper to the necessary standard before their PhD thesis can be submitted for examination. Students who have not taken their PhD-qualifying field course (paper 6) will also need to pass that course before their thesis can be submitted. These requirements will need to be taken at the next examination, except where permission has been granted for a candidate to defer the examination until a subsequent year.
Students missing the progression requirement by more than one paper are required to pass those papers to the necessary standard before PhD registration can be permitted.
Track 1: Award of the PhD in Economics
Award of the PhD is dependent on the completion and defence of an original research thesis, in accordance with University of London and LSE regulations.
Track 2: (4 MRes Papers + 1 PhD-qualifying paper)
Track 2 Students may be required to attend EC400, the September Introductory Course before commencing the MRes/PhD programme.
First year of Track 2:
Students are required to take MRes core courses (papers 1, 2 & 3), plus the MRes research paper (paper 4). Students who, as part of an MSc, have completed with exceptional performance a core course of a strictly equivalent level and coverage are permitted to take their PhD qualifying field course in its place.
Students are required to attend the Methodology Institute training 'Authoring a PhD and Developing as a Researcher' and are strongly encouraged to take advantage of other PhD-level training provided by the Department.
Students are required to attend the weekly Departmental seminar series closest to their major field and the relevant EC501 Work in Progress Seminar and are encouraged to participate in relevant modules of EC524 Empirical Methods in Applied Economics.
Subsequent years of Track 2 (if upgraded to PhD):
In year 2, students take the PhD-qualifying field course (paper 5) if they were not permitted to take it in year 1.
Students must have a detailed research proposal approved and signed by their supervisor by the end of the Michaelmas Term of their second year.
Students continue to attend the weekly Departmental seminar series closest to their major field and the relevant EC501 Work in Progress Seminar, where they present their research.
Students are expected to work on their research and to complete their PhD thesis within two or three years of PhD registration.
Track 2: Summary MRes degree courses, PhD qualifying course, and research training modules
MRes degree courses (examinable)
1. EC441 Microeconomics for MRes Students +
2. EC442 Macroeconomics for MRes Students +
3. EC443 Econometrics for MRes Students +
4. EC599 Research Paper in Economics
PhD qualifying courses (examinable) ++
5. One from the Field Selection List below
MRes research training modules (non-examinable)
A. MI5A1 Authoring a PhD and Developing as a Researcher
B. EC524 Empirical Methods in Applied Economics
C. EC501 Work in Progress Seminars
D. In addition, students will be required to attend the weekly Departmental seminar series closest to their major field.
PhD research training modules (non-examinable)
E. MI5A2 Authoring a PhD and Developing as a Researcher
F. MI5A3 Authoring a PhD and Developing as a Researcher
+ Students who, as part of an MSc, have completed with exceptional performance a course of a strictly equivalent level and coverage are permitted to take the PhD qualifying field course in its place.
++ Students who are permitted to take a PhD qualifying field as paper 1, 2 or 3, are waived this additional requirement.
Track 2: Award of the MRes in Economics
The award and classification of the MRes degree is consistent with the School's Scheme for the Award of a four-unit Taught Masters Degree. Students are required to achieve a pass mark of 50% in papers 1, 2, 3 & 4. One failed paper (but not a bad fail) can be compensated by a mark of 55% or higher in another paper.
Track 2: Progression to PhD registration
For PhD registration students should obtain two marks of 60% or higher in the MRes core papers EC441, EC442 and EC443, plus two marks of 50% or higher. If a student already has a mark of 60% or above in an MRes-level core paper taken as part of an MSc, the required MRes marks are two at 60% or higher (one from the MRes core papers EC441, EC442 and EC443), plus two marks of 50% or higher. A mark between 55-59% in one of these core papers can be condoned by a mark of +70% in another core paper.
(Note: EC484 substitutes for EC443 on the MSc Econometrics and Mathematical Economics)
Students missing the overall progression requirement by one paper are permitted to progress to PhD registration, but will subsequently need to pass the paper to the necessary standard before their PhD thesis can be submitted for examination. Students who have not taken their PhD-qualifying field course will also need to pass that course before their thesis can be submitted. These requirements will need to be taken at the next examination except where permission has been granted for a candidate to defer the examination until a subsequent year.
Students missing the progression requirement by more than one paper are required to pass those papers to the necessary standard before PhD registration can be permitted.
Track 2: Award of the PhD in Economics
Award of the PhD is dependent on the completion and defence of an original research thesis, in accordance with University of London and LSE regulations.
Field Selection List
EC510 International Economics for Research Students
EC511 Labour Economics for Research Students
Either EC512 Monetary Economics for Research Students or EC522 Monetary Economics with Macroeconomic Theory for Research Students or EC515 Development & Growth for Research Students or EC525 Development and Growth with Macroeconomic Theory for Research Students
EC513 Public Economics for Research Students
EC514 Economics of Industry for Research Students
EC516 Contracts and Organisations for Research Students
EC517 Advanced Microeconomic Theory for Research Students
EC518 Topics in Advanced Econometrics for Research Students*
EC523 Political Economy for Research Students
Either FM502 Theories of Finance or FM503 Empirical Finance or EC430.1 Capital Markets and FM502.2 Theories of Finance
PH413 Philosophy of Economics and PH555 Research Seminar in the Philosophy of Economics and Social Sciences ‡
* Track 2 students who have previously taken the EC485 component of this course at Masters level may instead, with the agreement of the MRes Tutor, take Statistics and/or Mathematics courses to the value of one unit.
‡ PH555: students are required to attend one term of choice and complete the term essay.
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