Funding your Postgraduate Economics
Costs of the MSc Economics/Economics (Finance)
Fees for the MSc at Edinburgh depend on your nationality. In 2011/12, the fees for EU and UK citizens will be GBP5,300 whereas for non EU overseas students they will be GBP12,200. You can check fees on the University Registry website. Living costs vary according to lifestyle and tastes but in 2010/11 students might be expected to spend somewhere between GBP9000 and GBP11,000 during the year in order to enjoy a reasonable standard of living. You can find a more detailed break down on the cost of living by clicking here
PhD costs
Fees for PhD study vary according to which of the eight participating universities the student in question is located. However the above figures for the MSc provide a reasonably accurate benchmark for the annual fees you would expect to pay on the Programme. Most departments offer some kind of financial assistance particularly for very good students. For example, the Heriot-Watt University department waive fees, the department at the University of St Andrews have a scholarship competition and the University of Edinburgh have periodic financial PhD scholarships. For further details of department specific financial support contact the economics department at the relevant University. Living costs also vary according to location with Edinburgh perhaps being marginally the most expensive of the eight locations. Again the figures given above for the MSc provide a good benchmark for annual living costs.
Funding Sources for the MSc and PhD
It is the postgraduate student's responsibility to secure funding for his or her study. The details given below are an indication of some of the possible sources. In some cases awards are made by the institution and in others students apply directly to the funding body.
Economic and Social Research Council studentships
(MSc+PhD or PhD only)
The application process for 2011/12 studentships is now complete and the studentships awarded. The information below will be updated for the 2012/13 awards in early 2012.
The SGPE is one of the research training pathways that forms part of the ESRC Scottish Doctoral Training Centre. ESRC 1+3 (MSc+PhD) and +3 (PhD only) studentships in Economics are available at the 8 SGPE universities: Aberdeen, Dundee, Edinburgh, Glasgow, Heriot-Watt, Stirling, Strathclyde and St. Andrews. They are intended solely for students either starting a PhD or intending to start a PhD following their MSc. Students wishing to apply for an SGPE "1+3" or a "+3" award must submit a written and credible research proposal for their PhD. Further information on eligibility and details can be found on the DTC and the ESRC Websites.
Applicants interested in PhD study only (+3) should have applied to and have received an offer from their preferred SGPE university by the 3rd of May, 2011.
Applicants interested in MSc+PhD study (1+3) should have applied to and have received an offer from SGPE MSc Programme taught at the the University of Edinburgh by the 3rd of May, 2011. 1+3 applicants should NOT apply for a PhD (in addition to the MSc) at their preferred Unviversity at this stage, but they MUST contact the relevant PhD Coordinator (see instructions below.)
Applicants who wish to be considered for an ESRC award must first register their interest. To do this they need to send two emails; one to the SGPE PhD Director, Liam Delaney at Liam.Delaney@stir.ac.uk (cc'ing sgpe.admissions@ed.ac.uk) and the other to the PhD coordinator at the department at the at which they are interested in pursuing their PhD (see below). These emails must be sent by Friday the 8th of April 2011. The coordinators are the relevant Dapartments are:
Aberdeen: Ioannis Theodossiou
Dundee: Hassan Molana
Edinburgh: Ed Hopkins
Glasgow: Kostas Angelopoulos
Heriot-Watt: David Cobham
St. Andrews: Paola Manzini
Stirling: Ian Lange
Strathclyde: Julia Darby
Applicants who register their interest will receive detailed instructions by email on how to apply.
In brief, these instructions will ask students to (1) identify a research topic, the SGPE University where they intend to pursue their PhD, and a specific supervisor within the SGPE, (2) provide details of their relevant degree and degree courses and (3) write a short research proposal, and (4) provide a letter of support from the relevant University department where PhD study is planned. The deadline for receipt of full applications is 4pm, 3 May 2011.
Successful applicants will hear back by Friday the 20th of May.
Royal Economic Society (MSc)
The Royal Economic Society offers competitive scholarships each year to outstanding students. These awards only cover course fees and do not provide for living expenses. More details may be obtained from the Royal Economic Society.
University of Edinburgh scholarships
The following are six international scholarships offered by the University of Edinburgh Scholarships and Financial Aid Office:- The University of Edinburgh Canada Master's Scholarship
- The University of Edinburgh China Master's Scholarship
- The University of Edinburgh China / Hong Kong Master's Scholarship
- The University of Edinburgh India Master's Scholarship
- The University of Edinburgh US Master's Scholarship
- American Friends of The University of Edinburgh Scholarship (AFUE)
Further details on these and other schemes can be found at the following page:
http://www.ed.ac.uk/schools-departments/student-funding/postgraduate
Career Development Loans (MSc - British Residents)
These awards are available for British residents from major banks, such as the Royal Bank of Scotland, Lloyds TSB and Barclays. Students should consult with the relevant bank.
British Council (MSc, PhD - Overseas Students)
The British Council offers a number of scholarships to overseas students. Availability is dependent upon your home country and students are advised to contact their local British Council office or to access http://www.britishcouncil.org/learning-funding-your-studies.htm for further information.University studentships /Teaching Assistantships (PhD)
Each member university offers its own research and teaching awards. Details may be obtained from the postgraduate section of each respective participating university (see contacts).
World Bank Graduate Scholarship Programmes. (MSc, PhD)
The World Bank Graduate Scholarship Program (WBGSP) supports graduate studies in subjects related to economic development. Each year, the Program awards scholarships to individuals from World Bank member countries to undertake graduate studies at renowned universities throughout member countries of the Bank. Now in its sixteenth year, the Regular Program has awarded 1,842 scholarships, selected from nearly 39,000 applicants. In addition, 649 scholarships have been awarded in the various JJ/WBGSP Partnership Programs for a total of 2,491 awards. For further details see http://www.worldbank.org/wbi/scholarships