MRes Economics (Pathway to PhD)
Please note: This page is for 2027 entry. Click here for 2026 entry.
| UCAS code | 1234 |
|---|---|
| Duration | 2 years full time |
| Entry year | 2026 |
| Campus | Streatham Campus |
| Typical offer | 2:1 degree with honours in an Economics or related discipline. |
|---|---|
Why study MRes Economics (Pathway to PhD) at Exeter?
- The MRes Economics (Pathway to PhD) is a two-year programme that provides the foundations for conducting modern research in economics. It is intended for anyone wishing to progress onto a PhD in economics or another related social science.
- In the first year you will learn core economic models, econometric techniques and research methods.
- In the second year you will specialise in modules covering advanced topics in the fields of econometric theory, empirical economics, microeconomic theory and macroeconomic theory. The list of topics includes auctions, computational economics, education, fiscal policy, gender, health, human development, inequality, labour supply, machine learning, networks, sexual orientation, taxation, and voting.
- By the end of the second year you will have acquired the tools to write an MRes dissertation. The MRes dissertation, which will be supervised by one member of our academic staff, will enable you to apply your research skills and develop an in-depth knowledge in your chosen field.
- Following successful completion of your MRes you will then progress onto our three-year PhD Economics programme at University of Exeter. You will receive guidance from our internationally respected academic staff for progressing onto our PhD Economics programme.
Top 15 in the UK for Economics
11th in the Complete University Guide 2026 and 12th in The Guardian University Guide 2026
Triple accredited Business School
AMBA, AACSB, EQUIS
Top 20 in the UK for world-leading research in Economics and Econometrics
Research Excellence Framework 2021
More than 91% of our research outputs in Economics and Econometrics are internationally excellent
Research Excellence Framework 2021
Entry requirements
A 2:1 degree with honours in Economics or related discipline. Evidence of mathematical/quantitative ability is required. Degrees in Mathematics, Engineering, Physics or Statistics are also considered.
We do consider all applications where there is evidence of exceptional performance in modules relevant to the programme of study.
Applicants are encouraged to submit their (quantitative reasoning) GRE scores.
Please also see our guidance on essential documentation required for an initial decision on taught programme applications.
Entry requirements for international students
English language requirements
International students need to show they have the required level of English language to study this course.
The required IELTS test scores for this course fall under Profile B1.
Please visit our English language requirements page to view the required test scores and equivalencies from your country.
Course content
During the programme students will study 9 mandatory modules (including the MRes dissertation) and 2 (out of 3) sequences of optional modules totalling 240 credits. Each module other than the dissertation consists of 15 credits. The research dissertation amounts to 60 credits.
Students will also participate in the weekly graduate workshop and departmental seminar, where research is presented by graduate students and faculty members, respectively. In addition, they will also be encouraged to attend reading groups organised by faculty members in different relevant topics, from machine learning to price theory.
Please note that the module information displayed here is subject to change.
120 credits of compulsory modules
Compulsory modules
| Code | Module | Credits |
|---|---|---|
| Compulsory Term 1 | ||
| Research Methods I | 15 | |
| Microeconomic Theory I | 15 | |
| Macroeconomic Theory I | 15 | |
| Econometric Theory I | 15 | |
| Compulsory Term 2 | ||
| Microeconomic Theory II | 15 | |
| Macroeconomic Theory II | 15 | |
| Econometric Theory II | 15 | |
| Research Methods II | 15 | |
BEEM136: Research Methods I
This module provides an introduction to the techniques involved in data handling and analysis.
This module aims to provide a thorough introduction to the techniques involved in effective data handling, project management, analysis and visualisation, and data replicability tests required to undertake PhD level quantitative research.
BEEM137: Microeconomic Theory I
This is the first module in microeconomic theory, intended for students who wish to pursue doctoral studies in Economics and related subjects or for students who wish to learn microeconomics at a high technical level. Starting with the classic theory of consumer behavior and production, the module also will cover decision theory and general equilibrium theory.
The aim of the module is to develop the basic tools for formally analysing problems of resource allocation used by economists. After completing this module, you will be able analytically represent and solve economic allocation problems.
BEEM138: Macroeconomic Theory I
The module covers topics in modern macroeconomics with an emphasis on tools necessary to pursue research in macroeconomics.
The module explores core areas of modern macroeconomics with the aim to develop an understanding of macroeconomic models that enables students to use them to tackle macroeconomic questions. The emphasis will thus be on learning theoretical concepts and analytical techniques by using them in the process of discussing relevant modern macroeconomic topics.
BEEM139: Econometric Theory I
Econometrics is the branch of economics devoted to the development and application of statistical methods to the study and clarification of the economic phenomena. This module provides an advanced introduction to econometric theory, understood as a collection of mathematical and statistical concepts and principles which motivates much of the empirical analysis conducted by economists.
This module aims at providing the students with an introduction to the theory of econometrics covering important topics in econometric estimation and inference. The module will provide students with the necessary knowledge for understanding recent developments in econometrics.
The module will help students carry out future applied econometric analysis by allowing them to understand the underlying econometric theory, which is important in order to make reasonable judgments about the methods to implement.
BEEM140: Microeconomic Theory II
This is the second module in microeconomic theory. You will study rational strategic decision making, i.e. game theory in static and dynamic contexts, both with and without complete information, and repeated games. After developing the tools to theoretically analyse strategic behaviours, you will study the design of incentive structures in strategic settings: i.e. contract theory.
The aim of the module is to develop formal reasoning abilities and apply tools of strategic thinking and strategic problem solving widely used by economists and other social scientists. After completing this course, you will be able to reason formally and model strategic decision makers in a variety of economic contexts.
BEEM141: Macroeconomic Theory II
The module covers topics in modern macroeconomics with an emphasis on tools necessary to pursue research in macroeconomics.
The module explores core areas of modern macroeconomics with the aim to develop an understanding of macroeconomic models that enables students to use them to tackle macroeconomic questions. The emphasis will thus be on learning theoretical concepts and analytical techniques by using them in the process of discussing relevant modern macroeconomic topics.
BEEM142: Econometric Theory II
This module builds on Econometric Theory I and further develops your knowledge and understanding of econometric and methodological research tools and the application of various econometric methods and techniques to real life problems.
Additional Information:
Internationalisation
The methods covered in this module, such as those used to forecast inflation and GDP, are applicable across countries.
Sustainability
Resources for this module are available on the ELE (Exeter Learning Environment).
Employability
Students gain an understanding of the statistical techniques used to study topics such unemployment and forecasting inflation and economic growth which are all necessary skill for working in central banks. They also develop their numerical and problem-solving skills in learning these mathematical techniques.
This module aims at providing the students with the necessary econometric and methodological research tools to equip them for carrying out empirical research projects as well as understand the contents of other modules.
The module is dedicated to the application of various econometric methods and techniques to real life problems.
BEEM143: Research Methods II
This module completes the first-year MRes/PhD sequence on analytical and quantitative research methods, building on the math camp and BEEM136 Research Methods I, and covering further analytical and computational techniques useful in economics research. Our ultimate goal will be to lay a solid foundation for your continued independent learning and frontier research. You will work to understand the foundational aspects common to a large class of recent theoretical and applied developments. The idea is for you to afterwards be able to start reading and understanding papers in your chosen application domain, and think creatively about new ways of advancing that domain.
Please note that the module information displayed here is subject to change.
120 credits of compulsory modules
Compulsory modules
| Code | Module | Credits |
|---|---|---|
| Compulsory 1 | ||
| Dissertation | 60 | |
| Topics in Advanced Economics I | 30 | |
| Topics in Advanced Economics II | 30 | |
BEEM150: Dissertation
In this module, you will write an academic dissertation. The academic dissertation allows you to demonstrate your ability at identifying and analysing an economic problem using economic models and/or econometric methods. You will come up with a topic of your own choice, which can be theoretical or empirical in nature, manage self-driven enquiry and write up a piece of research.
The supervision arrangement for the academic dissertation will consist of one member of faculty. You are encouraged to seek your own supervisor.
Additional Information:
Internationalisation
The analytical skills developed and employed in this module will be applicable across institutions and countries and are multinational in nature.
Employability
By solving statistical mathematical problems and exercises, students are equipped with practical problem-solving skills, theoretical skills, and an understanding of mathematical relationships. All of these are highly valuable in both academic and non-academic jobs.
Sustainability
The aim of the dissertation is to allow you to develop skills to identify and analyse an economic problem. You will acquire knowledge of the existing literature, identify the key economic trade-offs, acquire necessary tools to analyse these trade-offs, and analyse the economic problem using economic and/or econometric techniques.
BEEM165: Topics in Advanced Economics I
In this module, you will explore burgeoning areas of modern microeconomics, with the aim of developing the skills needed to undertake independent research at the discipline’s frontier. Delivered through a series of research-led blocks, each led by a different member of faculty, you will engage with a variety of current topics and approaches in both microeconomic theory and empirical economics.
You will examine key methods in empirical work—including applied micro-econometrics, economic modelling, and computational techniques—drawing on seminal contributions and recent advances from across the field.
By the end of the module, you will be able to critically engage with research at the frontier of microeconomics and apply appropriate theoretical and empirical methods in your own independent work.
BEEM166: Topics in Advanced Economics II
This module is part of the second-year MRes/PhD set of advanced topics modules. This means you will be exposed to topics in advanced economics with emphasis on fundamentals and applications to recent theoretical advances. The module explores burgeoning areas of modern economics research, with the aim of enabling you to write independent research in economics at the research frontier. Thus our ultimate goal will be to lay a solid foundation for your continued independent learning and frontier research via guided reading, learning, and reflection. If taken seriously and proactively, it will be one of the most challenging and useful modules of your graduate career.
Fees
2026/27 entry
UK fees per year:
£7,100 full-time
International fees per year:
£16,100 full-time
Important information for international applicants
If you require a Student visa, please note that students studying an MRes programme are generally not eligible to bring dependants (such as a spouse, partner or children) to the UK.
Read our guidance on dependant eligibility.
Scholarships
The University of Exeter offers a wide range of scholarships to support your education, with £7 million available for international students applying to study with us in the 2026/27 academic year, including our prestigious Exeter Excellence Scholarships. We also provide awards for sport, music and other achievements, as well as regional and partner scholarships with organisations such as Chevening, The Beacon Trust and the British Council. For more information on scholarships and other financial support, please visit our scholarships and bursaries page.
University of Exeter Alumni Scholarship
We are pleased to offer the University of Exeter Alumni Scholarship, a scholarship for University of Exeter alumni beginning a standalone postgraduate programme in 2026/27 with us a scholarship worth 20% of the cost of your first year tuition fees.
Terms and conditions, including deadlines, apply.
Teaching and research
Assessment
Assessments will be conducted via problem sets, midterm exams, final exams, presentations, and an MRes dissertation.
Supervision
Students will be assigned an academic tutor and a pastoral tutor from the first day of their MRes. During the MRes period you will have the opportunity to meet and discuss your research interests with academic staff to help ensure you have the best possible match with your supervisor for your PhD.
Progression to PhD
Although the MRes Economics (Pathway to PhD) can be studied as a two-year standalone programme, it is intended as a pathway to PhD.
Progression on to the PhD is subject to meeting the eligibility criteria for the PhD. This includes (1) successful completion of the MRes (achieving at least an average of 60% across all modules and at least 65% in the Dissertation) and (2) the identification of a member of academic staff in the Department of Economics who has agreed to be your PhD supervisor.
After the programme
The MRes programme will provide you with the knowledge and skills required to carry out PhD level research and subject to meeting the entry criteria you will be able to progress onto our PhD Economics programme.
Upon completion of your PhD, you will be well equipped to conduct top-notch research and pursue careers in academia, government or consultancy.
Recent placements of our graduating students include assistant professorships and lectureships at places like Lancaster University, University of Manchester, Warwick University and Xiamen University. Others have taken post-doctoral positions at places like FAU-Erlangen-Nuremberg and University of Innsbruck.
Recent research conducted by our graduating students during their doctoral studies or immediately after finishing their doctoral studies has been published in top international Economics journals such as Experimental Economics, the Journal of Economic Behavior and Organization, and the Journal of Economic Dynamics and Control. For instance, one of our recent graduates, Lorenz Hartmann has a paper forthcoming in Econometrica: "Savage’s P3 is Redundant”
