Four ways to study the MSc in Applied Economics


Strathclyde’s Economics department – home of the Fraser of Allander Institute – has launched new ways of studying for its popular MSc in Applied Economics from Autumn 2019.

This postgraduate course has been designed for both aspiring professional economists and for those with no formal training in economics but who now work in an economic policy, economic development or business environment.

You can now study through one of four routes, each designed to suit both your learning needs and a method of study that is most convenient for you.

These routes are:

  • Full-time study over 12 months;
  • Part-time study, over either 24 or 36 months 
  • Taking classes towards either a Postgraduate Diploma or Postgraduate Certificate in Applied Economics;
  • “Pay as you go” – taking elements of the course on a class-by-class basis.

Students taking the course on a part-time basis take the core classes on one day each semester, meaning the course can fit around existing family, work or other commitments.  Some classes are available by distance learning.

Professor Graeme Roy, Head of Department and Director of the Fraser of Allander Institute, said, “Having worked for a number of years in a demanding role in government, I know how difficult it can be to find the time to focus upon your own personal development and learning.

"But ultimately, growing your skills and knowledge is crucial not just to your own personal development but also the success of your organisation.

"That is why we are now offering significant flexibility in how we deliver our Applied Economics course to meet people’s training needs and career ambitions.

"Whilst many of students will still wish to experience full-time study, we’ve refreshed our programme to enable people to access it much more easily. For example, it is now possible to study part-time just one day per week.” 

For further informatiopn please contact Recruitment and Admissions in Strathclyde Business School at


Why choose the University of Strathclyde?

You will be a student at the Strathclyde Business School, a triple-accredited Business School and Times Higher Education Business School of the Year, internationally respected as one of the most innovative and largest business schools of its kind in Europe.

What will you study?

Alongside the opportunity to study for a number of electives in different subject areas of the Business School and University, you will have the opportunity to study a selection from the following courses offered by the Department of Economics.

All of the courses focus upon the applied nature of study – with real-life case studies and applications crucial to the learning process.

Fundamentals of Macroeconomics*

This class includes the analysis of aggregate economic variables – such as growth, inflation, unemployment – and the design and use of government policies, and responses to changes in the macroeconomic climate.

Fundamentals of Microeconomics*

This class will develop your understanding of the economic analysis of markets and competition. These will provide you with economic insights which can be applied to businesses competing in markets with different characteristics.

Topics in Public Economics*

This class explores the role of public policy in the economy. You will learn why governments intervene before discussing issues in regulation, the provision of public goods and issues in tax and redistribution.

International Macroeconomics*

This class helps you understand and anticipate changes in the global economy. You’ll learn about hot-topics in macro, as well as the critical role of finance and the causes and impacts of financial crises.

Analysis of Economic Data*‡

Through this class, you’ll develop your skills in data analysis that make up an essential part of an applied economist’s toolkit. A combination of lab sessions and lectures means that you will benefit from practical experience and learn about the ‘good’ and ‘bad’ way of presenting data.

Economic Appraisal & Economic Modelling*‡

Appraisal and modelling lie at the heart of what most economists in business, consulting and government do on a day-to-day basis. You will examine the key principles and techniques of economic appraisal, before then gaining insights from staff from the FAI into how economic models can help inform decision-making.

Professional Development for Economists*‡

Our unique core skills class, where you will learn from experienced economists about their experiences working in applied roles, as well as develop your own core skills, preparing you for a career in economic analysis.

Energy Economics

The class examines topics in the economic analysis of energy; including, energy policy; energy supply and demand; markets; the use of models in policy making; and the economics of renewable and non-renewable resources.

International Development

This class will study contemporary issues in the economics of development. You’ll learn about how economists analyse low income countries, the role of institutions in economic growth, as well as how policy might effectively reduce poverty.

Games of Strategy

This class studies how to make effective decisions in “strategic” scenarios, i.e. where the outcome of a decision depends not only on your actions but also the decisions of others. This is key for careers where understanding interactions between firms is crucial and effective market strategies are vital to business success.

Environmental Economics

This class provides a grounding in the economics of the environment, with a particular focus on environmental protection in an international policy context. These include issues such as climate change and the loss of biological diversity.

International Trade

In this class you will gain an understanding of the essential economic issues in international trade and the role of international institutions in promoting trade liberalisation. You will analyse the distribution of the gains from trade and discuss current issues – such as Brexit – and their impacts.

Economics of Inequality and Inclusive Growth

Understanding the drivers of increases in observed inequality is arguably the most important issue in economic policy at the current time. Students will learn how to apply economic reasoning to these issues, and the latest techniques and methods used to inform the design of policies.

Notes: Classes marked with an * are “Core” classes for MSc in Applied Economics, while other classes are available as “Elective” classes. Classes marked with an ‡ are 20 credit classes, while others are 10 credits. Students working towards PG Certificate or PG Diploma in Applied Economics complete 60 credits or 120 credits respectively.



Published: 29 July 2019

Contact details

 Undergraduate admissions
 +44 (0)141 548 4114 

 Postgraduate admissions
 +44(0)141 553 6118 / 6119


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University of Strathclyde
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