MPhil in Economics

2 Year On Campus Masters Program

University of Oxford

Program Overview

The MPhil in Economics at the University of Oxford is a rigorous two-year master's program designed to prepare students for doctoral research or high-level professional roles in economics. It suits ambitious graduates seeking deep analytical training in microeconomics, macroeconomics, and econometrics, with the flexibility to explore applied and theoretical fields.

Curriculum Structure

Year 1
Your first year begins with a preparatory course in mathematical methods, setting the stage for advanced economic analysis. You’ll then dive into three core modules: Microeconomics, Macroeconomics, and Econometrics. These courses build a strong foundation in dynamic theory, statistical modeling, and empirical techniques, equipping you to critically engage with frontier research and policy debates.

Year 2
In your second year, you’ll tailor your learning through four advanced option courses. These may include International Trade, Development Economics, Industrial Organisation, or Public Economics, depending on your interests. You’ll also complete a supervised thesis, applying your skills to original research in a chosen area, often aligned with Oxford’s world-class research groups.

Focus areas: Microeconomics, Macroeconomics, Econometrics, Applied Economics, Research Methods
Learning outcomes: Advanced quantitative and analytical skills, research readiness, policy evaluation expertise, and critical thinking in economic theory and applications
Professional alignment (accreditation): Designed to match the first two years of a US-style PhD, ideal for progression to Oxford’s DPhil or top global doctoral programs; highly regarded by employers in government, finance, and international institutions
Reputation (employability rankings): Oxford ranks 3rd globally for graduate employability (QS 2025), and its Economics department is consistently top-tier in UK and global rankings

Experiential Learning (Research, Projects, Internships etc.)

Students in Oxford’s MPhil in Economics gain hands-on experience with advanced research tools, data analysis platforms, and collaborative learning environments that mirror real-world economic practice. The program is deeply embedded within Oxford’s globally renowned Department of Economics, giving students access to cutting-edge facilities, expert-led workshops, and a vibrant academic community. Whether you're preparing for doctoral research or a professional career, the MPhil ensures you build practical skills alongside theoretical depth.

Here’s how that experiential learning comes to life:

Software & Tools: Students use industry-standard platforms like Stata, Matlab, and R for econometric analysis and quantitative research.
Group Projects & Seminars: Regular research workshops and seminars allow students to present work, receive feedback, and collaborate with peers and faculty on emerging economic questions.
Thesis Supervision: The second-year thesis is a major experiential component, involving close mentorship from Oxford economists and often contributing to active departmental research clusters.
Libraries & Research Resources: Students have full access to the Bodleian Social Science Library, one of the largest economics collections in Europe, and digital databases like JSTOR, RePEc, and Oxford’s own data repositories.
Institutes & Networks: The program is linked to Oxford’s Institute for New Economic Thinking and the Oxford Martin School, offering exposure to interdisciplinary research and policy innovation.
Facilities: Graduate students benefit from dedicated study spaces, computing labs, and access to the Manor Road Building, which houses the Department of Economics and its teaching facilities.

Progression & Future Opportunities

Graduates of Oxford’s MPhil in Economics are highly sought after by top employers and doctoral programs worldwide. Many go on to influential roles in central banks, international organisations, economic consultancies, and policy think tanks. Typical career paths include: economic analyst, policy advisor, financial economist, and research associate.

Here’s how Oxford supports your future success:

Career Services: The Oxford University Careers Service offers tailored support for MPhil students, including one-on-one guidance, employer networking events, and access to exclusive job boards like CareerConnect.
Employment Stats: Over 80% of MPhil graduates proceed directly to doctoral study or secure professional roles within six months of graduation, with many entering institutions like the IMF, World Bank, Bank of England, and top-tier consultancies.
Industry Links: The Department of Economics maintains strong ties with organisations such as the Institute for Fiscal Studies, OECD, and Bank of England, often hosting guest lectures and recruiting events.
Accreditation Value: The MPhil is internationally recognised as equivalent to the first two years of a PhD, making it a powerful credential for both academic and professional advancement.
Graduate Outcomes: Alumni have progressed to DPhil programs at Oxford and other elite institutions, or taken up roles in government, finance, and global development.

Further Academic Progression:
The MPhil is designed as a pathway to doctoral research, with many students continuing directly into Oxford’s DPhil in Economics. The rigorous training and thesis experience also make graduates competitive for PhD programs at Harvard, Stanford, MIT, and other leading universities.