MRes/PhD Economics

The Department of Economics has led the development of systematic research training in economics in the UK. Today, our research informs policymaking and government decisions worldwide.

As a student, you’ll start with a research master’s degree, which will equip you with the theoretical knowledge and analytical techniques needed to proceed to the PhD (subject to satisfactory progress).

You’ll be trained and supervised by top economics experts and trailblazers in the field, drawing on our strengths in key areas including macroeconomics, development, labour and public economics, and econometrics.

You’ll have the chance to contribute to original research that addresses challenging economic issues such as unemployment, inflation, immigration, poverty, crime and industrial growth. We’re proud of the research carried out by our world-leading research centres:

• Suntory and Toyota International Centres for Economics and Related Disciplines
• Centre for Economic Performance
• Centre for Macroeconomics
• Financial Markets Group

Our graduates secure high-flying careers in academia, governments, and prestigious private-sector firms worldwide.

Readings are included in the respective course guides in the Calendar.

GRE/GMAT requirement

GRE is required for all applicants. This must be no more than five years old on 1 October 2025 and must show full and percentile scores for all three sections. Most successful MRes/PhD Economics applicants score 166 or above in the quantitative section.

Find out more about GRE/GMAT

Introductory course (MRes)

In early September, before the academic year commences, you'll begin your degree programme by taking the Introductory Mathematics and Statistics course.

First year (MRes)

In the first year of the MRes programme you'll take advanced core courses in microeconomics, macroeconomics and econometrics, to equip you with the theoretical knowledge and analytical techniques necessary for research. Permission must be obtained to sit Econometric Analysis as it is intended for students with a strong econometric background and an interest in pursuing a PhD with econometrics as the primary field.

Second year (MRes)

In the second year, you'll typically take a total of two units of PhD field courses and write a research paper in your major field. Currently, there are economics PhD field courses covering: econometrics, international, labour, public, development, industrial, microeconomics, macroeconomics, political economy, and environmental economics. In addition, the LSE offers PhD field courses in Corporate Finance and Asset Pricing. From the second year onwards, you'll also participate in a departmental research seminar and a work in progress seminar allied to your major research field.

The Research Paper in Economics is a 5,000-10,000-word paper, related to your designated major field, to be submitted mid-way through the Spring Term.

PhD

Upon successfully completing the MRes and progressing to the PhD, you'll work on your research and write your PhD thesis. You'll also take one further PhD field course. You'll also attend Work in Progress seminars, where you present your research, as well as the weekly departmental seminar series closest to your major field.

PhD

You'll continue to work on your research and write a PhD thesis. You'll also continue to attend Work in Progress seminars, where you present your research, as well as the weekly departmental seminar series closest to your major field.

PhD

You'll continue to work on your research and write a PhD thesis. You'll also continue to attend Work in Progress seminars, where you present your research, as well as the weekly departmental seminar series closest to your major field.

LSE is home to one of the top economics departments in the world, with expertise across the full spectrum of mainstream economics.

Our academics and researchers are working at the frontiers of developments in the field and our research has a global impact. Over the past 50 years, this research has influenced almost every major intellectual development within the discipline.

As a department, our academics advise governments and central banks, aid agencies, and private-sector organisations in the UK, Europe and around the world. Our research insights help tackle global challenges such as economic instability, inequality and climate change, often catalysing profound policy shifts.

Past and present faculty members have shaped economic policy at a national and international level and our teaching staff have included a former Bank of England governor and Chief Economist to the World Bank. We count nine Nobel Prize winners among our current and former staff and students.

Within the department, we offer a range of undergraduate and postgraduate degrees, as well as doctoral training in economics. Our alumni find high-earning and rewarding roles in government, international institutions, business and finance.

Learn more about our programmes and research.

Department of Economics

We welcome applications for research programmes that complement the academic interests of our staff at LSE. For this reason, we recommend that you take a look at our staff research interests before applying.

We carefully consider each application and take into account all the information included on your form, such as your:

• academic achievement (including existing and pending qualifications)
• statement of academic purpose
• references
• CV
• research statement
• sample of written work
• GRE/GMAT.

See further information on supporting documents.

You may need to provide evidence of your English language proficiency. See our English language requirements.

Please note that LSE allows part-time PhD study only under limited circumstances. If you wish to study part-time, you should mention this (and the reasons for it) in your statement of academic purpose, and discuss it at interview if you're shortlisted.

Research statement

An application for entry to the MRes/PhD Economics should include a Research Statement, along with other required information. Note: A separate sample of written work is not required as part of the MRes/PhD Economics application.

What should my Research Statement contain?

Your Research Statement should be submitted in place of the Outline Research Proposal, along with your application form and other required supporting documents, via the LSE online application system.

Please answer the following questions clearly and concisely. Maximum 200 words per question.

1. Why do you want to do research in economics?
2. Can you explain how your studies and experience make you suitable to do research in economics?
3. Which aspect of the PhD do you think you will like the most? Which will you dislike the most? Why?
4. Tell us about your favourite paper in economics. What do you like about it? How would you improve it?
5. Write a comment for a general audience on ONE of the following topics

• Do immigrants take the jobs of native workers?
• Is inequality good for growth?
• Is CEO compensation excessive?
• Is universal minimum income a good idea?
• Overall, has central banks' move to inflation targeting has been a success?
• Is culture an important determinant of differences in income per capita across countries?
• Markets function well as information is aggregated efficiently through prices.
• Elections are effective at disciplining politicians who do not have the public interest as their main goal.

How can I demonstrate research potential?

If you've served as research assistant for an economist please ask that person to write a letter focussing on your research skills and describe your experience – reference point 2 (above) of the research statement.

If not, please list any evidence you think would be valuable. Examples include but are not restricted to: experience working autonomously under stress without any guidance, demonstration of creativity in any form, experience of writing original research.

The application deadline for this programme is 18 December 2024.

If you’d like to be considered for any funding opportunities, you must submit your application (and all supporting documents) by this application and funding deadline.

See the fees and funding section below for more details.

The fee is likely to rise over the full duration of the programme. The School charges home research students in line with fee levels recommended by the Research Councils.

Learn more about fee status classification.

The fee is likely to rise over the full duration of the programme in line with the assumed percentage increase in pay costs (ie, four per cent each year).

Learn more about fee status classification.

Progression and assessment

In order to progress to each subsequent year of the programme, and to progress to PhD registration, you'll need to meet specific progression requirements, such as achieving certain grades in your coursework.

Your final award will be determined by the completion of an original research thesis and a viva oral examination.

More about progression requirements

Students who successfully complete the programme often embark on an academic career.

See information on the placements of previous students on this programme

Teaching

Starting from the second year of the MRes, students undertake class teaching in the Department as this represents useful professional training.

The Department of Economics has a well-organised programme to support PhD Economics students when they enter the job market, and an excellent record in placing its students in the best departments and most influential institutions and NGOs in the world.

In addition, LSE Careers has a wide range of resources available to assist students in their job search.

Find out more about the support available to students through LSE Careers