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Economics and Finance

MPhil/PhD

Application options include:

Full-time Part-time
On campus

Course Overview

The MPhil/PhD in Economics and Finance will train you to conduct research of a high academic standard and to make original contributions to the subject. The degree involves both coursework and research training, but its major component is the preparation of a substantial research thesis. The thesis should demonstrate a sound understanding of the main issues in the area and add to existing knowledge.

An MPhil/PhD is an advanced postgraduate research degree that requires the submission of a substantial dissertation of 60,000 to 100,000 words. At Birkbeck, you are initially registered on an MPhil and you upgrade to a PhD after satisfactory progress in the first year or two. You need to find a suitable academic supervisor at Birkbeck, who can offer the requisite expertise to guide and support you through your research. Find out more about undertaking a research degree at Birkbeck.

Economics and finance at Birkbeck has acquired an excellent reputation, not only for the quality of its research but also for the quality of its training. The Treasury, the Bank of England and many other employers hire us to train their staff. We take students who are determined to succeed and are prepared to undergo the rigours of first-class training, whether they are studying full-time or part-time.

Key information

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Highlights

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  • Entry Requirements Entry Requirements

    Entry Requirements

    An MSc in economics/finance or a related quantitative subject, with Distinction or a good pass.

    Applicants should also submit a research proposal which is in line with the research interests of our academic staff in this area.

    Qualities such as good time management and the ability to cope under pressure are vital.

    A strong background in quantitative methods is required.

    English language requirements

    If English is not your first language or you have not previously studied in English, our usual requirement is the equivalent of an International English Language Testing System (IELTS Academic Test) score of 6.5, with not less than 6.0 in each of the sub-tests.

    If you don't meet the minimum IELTS requirement, we offer pre-sessional English courses, foundation programmes and language support services to help you improve your English language skills and get your place at Birkbeck.

    Visit the International section of our website to find out more about our English language entry requirements and relevant requirements by country.

    Visa and funding requirements

    If you are not from the UK and you do not already have residency here, you may need to apply for a visa.

    The visa you apply for varies according to the length of your course:

    • Courses of more than six months' duration: Student visa
    • Courses of less than six months' duration: Standard Visitor visa

    International students who require a Student visa should apply for our full-time courses as these qualify for Student visa sponsorship. If you are living in the UK on a Student visa, you will not be eligible to enrol as a student on Birkbeck's part-time courses (with the exception of some modules).

    For full information, read our visa information for international students page.

    Please also visit the international section of our website to find out more about relevant visa and funding requirements by country.

    Please note students receiving US Federal Aid are only able to apply for in-person, on-campus programmes which will have no elements of online study.

  • Fees Fees

    Fees

    Economics MPhil/PhD: 7 years part-time or 4 years full-time, on campus, starting in academic year 2024-25 or 2025-26

    Academic year 2024–25, starting October 2024, January 2025, April 2025

    Part-time home students: £2,539 per year
    Full-time home students: £4,786 per year
    Part-time international students: £7,525 per year
    Full-time international students: £14,885 per year

    Academic year 2025–26, starting October 2025, January 2026, April 2026

    To be confirmed

    Students are charged a tuition fee in each year of their course. Tuition fees for students continuing on their course in following years may be subject to annual inflationary increases. For more information, please see the College Fees Policy.

    If you’ve studied at Birkbeck before and successfully completed an award with us, take advantage of our Lifelong Learning Guarantee to gain a discount on the tuition fee of this course.

    Fees and finance

    PhD students resident in England can apply for government loans of over £26,000 to cover the cost of tuition fees, maintenance and other study-related costs.

    Flexible finance: pay your fees in monthly instalments at no extra cost. Enrol early to spread your costs and reduce your monthly payments.

    We offer a range of studentships and funding options to support your research.

    Discover the financial support available to you to help with your studies at Birkbeck.

    International scholarships

    We provide a range of scholarships for eligible international students, including our Global Future Scholarship. Discover if you are eligible for a scholarship.

  • Our research culture Our research culture

    Our research culture

    New full-time MPhil/PhD students are required to attend a series of lectures and research workshops, covering topics that are at the cutting edge of recent developments in economic theory and methodology. You also select option classes from the MSc Economics, MSc Financial Economics or MSc Finance at Birkbeck or UCL. After completing coursework, you proceed to write a PhD dissertation.

    Coursework is not normally compulsory for part-time MPhil/PhD students. However, if deficiencies in previous training are identified, you may be required to undertake suitable coursework.

    Read more about our vibrant research culture.

  • How to apply How to apply

    How to apply

    Follow these steps to apply to an MPhil/PhD research degree at Birkbeck:

    1. Check that you meet the entry requirements, including English language requirements, as described on this page.

    2. Find a potential supervisor for your MPhil/PhD research. You can look at the Find a Supervisor area on this page for an overview, or search our Experts’ Database or browse our staff pages for more in-depth information. 

    3. Contact the academic member of staff - or the department they teach in - for an informal discussion about your research interests and to establish if they are willing and able to supervise your research. (Please note: finding a potential supervisor does not guarantee admission to the research degree, as this decision is made using your whole application.) Find out more about the supervisory relationship and how your supervisor will support your research.

    4. Draft a research proposal. This needs to demonstrate your knowledge of the field, the specific research questions you wish to pursue, and how your ideas will lead to the creation of new knowledge and understanding. Find out more about writing a research proposal.

    5. Apply directly to Birkbeck, using the online application link on this page. All research students are initially registered on an MPhil and then upgrade to a PhD after making sufficient progress.

    Find out more about the application process, writing a research proposal and the timeframe. 

    Application deadlines and interviews

    You can apply at any time for study starting in January, April or October. We need to receive your supporting documents (i.e. your transcript, two academic references and research proposal) before we can proceed with your application.

    If you wish to apply for funding, you will need to apply by certain deadlines. Consult the websites of relevant bodies for details.

    Apply for your course

    Apply for your course using the apply now button in the key information section.

  • Finding a supervisor Finding a supervisor

    Finding a supervisor

    When applying for a PhD, aligning your intellectual and research interests with those of potential supervisors is crucial for the productive and successful start of a research career. Supervisors are your primary academic contact in the School and provide guidance on how to define, develop, execute and present your research. Often, they also assist in your professional placement upon completion of the PhD.

    Every postgraduate research student must have a primary and a secondary supervisor. These need not be in the same subfield of Economics or Finance.

    We encourage you to actively engage in finding the right match for your primary supervisor and we are committed to finding a suitable secondary supervisor. The following can help you to explore the research expertise of our members of academic staff and identify those who may be available to supervise your PhD project:

    Academic staff by broad research area:

    • microeconomic theory: Arup Daripa, Ken Hori, David Schröder, Emanuela Sciubba
    • applied microeconomics: Camille Boudot-Reddy, Arup Daripa, Emanuela Sciubba, Tinghua Yu, Sandeep Kapur
    • macroeconomic theory: Yunus Aksoy, Pedro Gomes, Gylfi Zoega
    • applied macroeconomics: Yunus Aksoy, Pedro Gomes, Zacharias Psaradakis, Andy Ross, Ron Smith, Stephen Wright
    • competition, regulation and public policy: Alistair Ball, Walter Beckert, Arup Daripa, Dan Kaliski, Sandeep Kapur, Andy Ross, Tinghua Yu
    • health economics: Alistair Ball, Walter Beckert, Camille Boudot-Reddy, Dan Kaliski
    • political economy: Camille Boudot-Reddy, Ron Smith, Tinghua Yu
    • development economics: Camille Boudot-Reddy
    • labour economics: Alastair Ball, Pedro Gomes, Gylfi Zoega
    • econometrics: Walter Beckert, José Camarena-Brenes, Dan Kaliski, Zacharias Psaradakis
    • finance: Ken Hori, Simon Hubbert, Emmanuel Mamatzakis, Ilaria Peri, David Schröder, Emanuela Sciubba, Ellen Pei-yi Yu
    • quantitative finance: Ken Hori, Simon Hubbert, Ilaria Peri

    Academic staff and their key areas of interest and expertise:

    • Yunus Aksoy: theoretical and empirical macroeconomics; monetary economics; macroeconomics of aging populations
    • Alastair Ball: health economics; labour economics
    • Walter Beckert: theoretical and applied econometrics; empirical industrial organisation; financial markets regulation; health economics
    • Camille Boudot-Reddy: economic development; political economy; applied microeconomics; structural change
    • José Camarena-Brenes: theoretical and applied statistics
    • Arup Daripa: mechanism design; auctions; financial markets; banking
    • Pedro Gomes: macroeconomics of fiscal policy; macroeconomics of labour markets; public sector employment; education and human capital; macroeconomics and finance; sovereign ratings; organisation of working time
    • Ken Hori: search theory; banking; pension reform
    • Simon Hubbert: approximation theory; optimisation and mathematical finance
    • Dan Kaliski: health economics; causal inference
    • Sandeep Kapur: economics of innovation; economic and financial regulation; economic theory; emerging economies
    • Emmanuel Mamatzakis: banking; finance; international macroeconomics; applied accounting; applied econometrics; public finance
    • Ilaria Peri: risk measures theory; performance measures theory; risk management and portfolio management applications
    • Zacharias Psaradakis: time-series econometrics; non-linear dynamic models; resampling-based statistical inference
    • Andy Ross: (visiting professor); professional practitioner
    • David Schröder: empirical asset pricing; investor sentiment; decision making under uncertainty
    • Emanuela Sciubba: economic theory and theory of financial markets; social networks; behavioural and experimental economics
    • Ron Smith: (emeritus professor) applied econometrics; defence economics; political economy
    • Stephen Wright: theoretical and applied macroeconomics; monetary economics
    • Ellen Pei-yi Yu: environmental finance; sustainable finance
    • Tinghua Yu: political economy of institutions and development; political selection; intrinsic motivation; authoritarian politics; development economics
    • Gylfi Zoega: macroeconomics; labour economics; econometrics
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