MPhil + DPhil in Economics
About the course
The MPhil + DPhil in Economics (MPhil + DPhil) is an integrated taught and research course. It begins with a two-year MPhil covering theory, econometrics, and applied economics, followed by a DPhil focused on original research in specialised fields.
Students admitted to the joint MPhil + DPhil in Economics will first complete the two-year MPhil in Economics and then (subject to satisfactory performance) automatically progress to the three- to four-year DPhil in Economics.
If you intend on studying the MPhil followed by the DPhil in Economics at Oxford, and if you have had substantial economics training and exceptional results in your prior studies, this is the right course for you. Automatically progressing from MPhil to DPhil (subject to satisfactory performance) reduces the uncertainty regarding the transition from MPhil to DPhil.
Please note that if you are applying for the MPhil + DPhil in Economics and your application is unsuccessful, your application will automatically be considered for the MPhil in Economics, even if you have not indicated in the application form that you want to be considered for other courses. You will not need to make an additional application for the MPhil course or pay an additional application fee to be considered for both courses under these circumstances. If an application is unsuccessful for the MPhil + DPhil in Economics, but is accepted for the MPhil, then you will receive notification of an offer for the MPhil. If an application is unsuccessful for the MPhil + DPhil in Economics, and you receive notification of a rejection, then you were considered for the MPhil but were unsuccessful, therefore you will not receive an offer for either course.
A DPhil at Oxford is the equivalent to a PhD at most other institutions. The structure of the MPhil + DPhil programme is similar to that of the integrated five-year PhD (sometimes called MRes-PhD) at leading economics graduate schools worldwide.
Students who have experience in graduate work in economics or related fields, or for example have completed the MSc in Economics for Development may wish to apply directly to the DPhil in Economics.
Within the department, specialised research groups play a key role in bringing together faculty and graduate students working in particular sub-fields, supporting and mentoring our doctoral students and postdoctoral research fellows, and promoting research of the highest international standard. The research groups provide an important interface between research centres and the department, for example econometrics and the INET programme on Economic Modelling (EMOD); development economics and CSAE.
Other research groups facilitate collaboration across departments, as in the case of the economic history group and economic historians in the Faculty of History. Each research group runs a regular seminar series with external presenters, plus a more informal workshop in which members, including DPhil students, present their research in progress.
MPhil + DPhil students will join one or more of the department's research groups, becoming part of a vibrant educational research community with an active set of doctoral student-led events, seminars and conferences. You will have opportunities to present your work at a variety of seminars and sessions in the department.
Students can access a range of internship programmes through the University Careers Office as well as the RCUK Policy Internship scheme for ESRC-funded students. In addition, the Bank of England and other institutions often provide a short summer internship for a doctoral student specialising in macroeconomics or finance and the Department of Economics is accredited by the Asian Development Bank to nominate candidates for their internship programme.
In recent cohorts, students have benefited from an internship with organisations including the EBRD, European Central Bank, UK Home Office, as well as those identified above.
Course structure
An overview of the course structure is provided below. Details of the compulsory and optional elements of the course are provided in the Course components section of this page.
MPhil
To enable this joint programme to offer more rigour and exposure to the research frontier for future DPhil students, the department has made the MPhil more flexible.
The first year of the MPhil in Economics starts with a non-examined preparatory course in mathematical methods. The first two terms of the academic year focus on three compulsory courses in the central areas of microeconomics, macroeconomics and econometrics. These courses will provide the specialised skills needed for academic or non-academic careers in our data-rich world and the technical tools for research in economics.
In the second year, you will take four option courses. The option courses build on the first-year training and provide deeper and broader training in your areas of interest.
The second important component of the second year is the required thesis, supervised by a member of the department.
DPhil
To progress to the DPhil element of this course, you will be required to satisfactorily complete the MPhil element first.
You will then start the DPhil as a Probationer Research Student (PRS). You may be asked to take additional courses from the MPhil menu to deepen and broaden your economic training, while starting to work on your first research project. The PRS status allows for a smooth transition from learning about economic research to producing new economic insights yourself.
Attendance
The course is full-time and requires attendance in Oxford. Full-time students are subject to the University's Residence requirements.
Resources to support your study
As a graduate student, you will have access to the University's wide range of resources including libraries, museums, galleries, digital resources and IT services.
The Bodleian Libraries is the largest library system in the UK. It includes the main Bodleian Library and libraries across Oxford, including major research libraries and faculty, department and institute libraries. Together, the Libraries hold more than 13 million printed items, provide access to e-journals, and contain outstanding special collections including rare books and manuscripts, classical papyri, maps, music, art and printed ephemera.
The University's IT Services is available to all students to support with core university IT systems and tools, as well as many other services and facilities. IT Services also offers a range of IT learning courses for students to support with learning and research, as well as guidance on what technology to bring with you as a new student at Oxford.
The Department of Economics is located in the Manor Road Building in central Oxford, alongside the Department of Politics and International Relations. The department contains faculty offices and open-plan workspaces for DPhil students and postdoctoral research, with access to Wi-Fi and print services. A BYOD (Bring Your Own Device) policy is in place within the Economics department, enabling you to access data, printing, software and for some, a full windows desktop via the department's Virtual Desktop environment. The Manor Road IT team support all IT-related infrastructure and systems within the department, including desktops, laptops and tablets, and all associated peripherals (printers, scanners, webcams etc) and software provision.
The Manor Road Building also houses the Bodleian Social Sciences Library (SSL), a first-class research library open to all members of the University. The SSL holds over 250,000 printed books, over 1,000 printed journal titles, as well as statistical publications, working papers, dissertations, pamphlets and reports. Online resources include almost 100,000 e-journals and an extensive collection of databases and archives in the social sciences. Graduate teaching and most seminars take place within the Manor Road Building, where there is also a cafeteria and common room for students' use.
Supervision
The allocation of graduate supervision for this course is the responsibility of the Department of Economics and it is not always possible to accommodate the preferences of incoming graduate students to work with a particular member of staff. Under exceptional circumstances a supervisor may be found outside the Department of Economics.
You will be assigned a member of the economics department to act as your academic supervisor to provide advice and support for your academic studies in the first year of the MPhil. In the second year, your MPhil thesis supervisor will act as your academic advisor.
Assessment
MPhil
The three compulsory core courses in microeconomics, macroeconomics and econometrics are examined before the start of the third term of the first year of the MPhil. The required thesis is an important component of the second year of the MPhil, and is supervised by a member of the department. The thesis is usually expected to contain some original research. It can be incorporated into a DPhil thesis.
You will receive numerical grades for your thesis and for most option courses. Based on these grades and those for the first year courses, the examiners may award an overall pass grade, a pass with merit or a pass with distinction for the course. There is a prize for the best thesis and a prize for the best overall performance in written papers.
DPhil
Once you have satisfactorily completed the MPhil component, you will be admitted to the DPhil as a Probationer Research Student. You are first required to transfer to DPhil status. The Transfer of Status requires the completion of the Qualifying Examinations, necessary coursework, and an interview with two assessors appointed by the department, at which you will present an outline of your proposed thesis and a piece of written work relevant to the thesis.
The transfer is normally expected to be completed by the end of the fourth term, and no later than six terms from admission to Probationer Research Student status. In exceptional circumstances, where a student has already successfully completed advanced coursework as part of the MPhil in Economics at Oxford, the department may waive the requirement for the qualifying examinations and necessary course work.
Upon a successful transfer to DPhil status, you will be required to confirm your DPhil status no later than nine terms after admission to Probationer Research Student status. Candidates for Confirmation of Status are required to present a research paper at a workshop or seminar, present a detailed outline of the complete thesis and some complete draft chapters, and will be interviewed by an assessor.
The award of the DPhil degree is based on a thesis of not more than 100,000 words in length. It should constitute a significant and substantial piece of research, of a kind which might reasonably be expected of a diligent and competent student in three years of full-time study. The maximum time allowed for completion of the DPhil degree is four years. Extensions can be granted if required.
Graduate destinations
The interests and strengths of the department's doctoral students are many and diverse and this is reflected in the positions they take up after graduation: most take up tenure track or postdoc positions in academia; others find employment in government, international organisations, or the private sector. The international reputation of Oxford’s doctoral programme also means that its DPhil graduates can be found making a contribution in many different parts of the world.
The department recognises the importance of helping doctoral students find suitable employment and its placement efforts are directed by a senior member of the faculty. The department provides advice and help on all aspects of the job application process, including limited financial assistance to cover travel and conference expenses.
Changes to this course
The University will seek to deliver this course in accordance with the description set out in this course page. However, there may be situations in which it is desirable or necessary for the University to make changes in course provision, either before or after registration. The safety of students, staff and visitors is paramount and major changes to delivery or services may have to be made if a pandemic, epidemic or local health emergency occurs. In addition, in certain circumstances, for example due to visa difficulties or because the health needs of students cannot be met, it may be necessary to make adjustments to course requirements for international study.
Where possible your academic supervisor will not change for the duration of your course. However, it may be necessary to assign a new academic supervisor during the course of study or before registration for reasons which might include illness, sabbatical leave, parental leave or change in employment.
For further information please see our page on changes to courses and the provisions of the student contract regarding changes to courses.
Course components
MPhil Compulsory study
The first year of the MPhil in Economics starts with a non-examined preparatory course in mathematical methods. The first two terms of the academic year focus on three compulsory courses in the central areas of microeconomics, macroeconomics and econometrics. These three courses are offered on two levels. Though most MPhil students will take the courses on the "core" level, MPhil + DPhil students will be expected to take one or more of the three courses at the "advanced" level in the first year and to take additional advanced courses in the second year.
The second important component of the second year is the required thesis, supervised by a member of the department.
MPhil Options
In the third term of the first year, you will choose from two entirely new courses in Empirical Research Methods and Further Mathematics Methods.
In the second year, you will take four option courses. The option courses build on the first-year training and provide deeper and broader training in your areas of interest. You can take advanced-level courses in:
- macroeconomics
- microeconomics
- econometrics
- empirical research methods covering recent developments in theory and analytical techniques.
Other option courses are designed to develop knowledge and understanding of theory, empirical techniques and debates within specialist fields of economics. These include:
- behavioural economics
- development economics
- economic history
- financial economics
- international trade
- labour economics
- public economics.
Research areas
The following examples of topics researched by past students illustrate the themes that may be explored in this course:
- Applied Microeconomics
- Behavioural Economics
- Development Economics
- Econometrics
- Economic History
- Macroeconomics
- Microeconomic Theory
- Political Economy
- Environment and Resource Economics
- Trade and Spatial Economics
The topics researched by past and current students range across the breadth of the discipline, and are not limited to the above list.
Further information
Information about academic and research staff and departmental research can be found on the department's website.
Entry requirements for entry in 2026-27
Proven and potential academic excellence
The requirements described below are specific to this course and apply only in the year of entry that is shown. You can use our guidance to help you evaluate whether your application is likely to be competitive.
Please be aware that any studentships that are linked to this course may have different or additional requirements and you should read any studentship information carefully before applying.
Degree-level qualifications
As a minimum, applicants should hold or be predicted to achieve the following UK qualifications or their equivalent:
- a first-class or strong upper second-class undergraduate degree with honours in economics.
Applicants must demonstrate a strong quantitative preparation.
Candidates with a first degree in another related discipline should demonstrate how their academic background prepares them for graduate study in economics.
For applicants with a bachelor's degree from the USA, the minimum overall GPA that is normally required to meet the undergraduate-level requirement is 3.6 out of 4.0. However, selection of candidates also depends on other factors in your application and most successful applicants have achieved higher GPA scores.
GRE General Test scores
If you do not hold, or will not shortly hold, a UK or Republic of Ireland degree you must submit the results of a GRE Test obtained within the last 5 years. Applicants from UK or Republic of Ireland universities may also choose to submit a GRE score. Entrance is very competitive and most successful applicants will have a GRE score of Verbal 160, Quantitative 164, Analytical 4.5.
Other qualifications, evidence of excellence and relevant experience
All candidates are expected to have working knowledge in one programming language (of the candidate’s choice) at the start of the MPhil. The department will provide advice to accepted candidates on how to acquire such knowledge.
Publications are not expected.
English language proficiency
This course requires proficiency in English at the University's higher level. If your first language is not English, you may need to provide evidence that you meet this requirement. The minimum scores required to meet the University's higher level are detailed in the table below.
| Test | Minimum overall score | Minimum score per component |
|---|---|---|
| IELTS Academic (Institution code: 0713) | 7.5 | 7.0 |
| TOEFL iBT* including the 'Home Edition' (Institution code: 0490) | 110 | Listening: 22 Reading: 24 Speaking: 25 Writing: 24 |
| C1 Advanced† | 191 | 185 |
| C2 Proficiency‡ | 191 | 185 |
| Oxford Test of English Advanced | 165 | 155 |
*Changes to the TOEFL iBT test are being introduced on 21 January 2026. The University will not accept TOEFL tests taken from that date to meet the English language condition until a review of the revised test has been completed. Our Application Guide provides full details of the tests we accept.
†Previously known as the Cambridge Certificate of Advanced English or Cambridge English: Advanced (CAE)
‡Previously known as the Cambridge Certificate of Proficiency in English or Cambridge English: Proficiency (CPE)
Your test must have been taken no more than two years before the start date of your course. Our Application Guide provides further information about the English language test requirement.
Declaring extenuating circumstances
If your ability to meet the entry requirements has been affected by the COVID-19 pandemic (eg you were awarded an unclassified/ungraded degree) or any other exceptional personal circumstance (eg other illness or bereavement), please refer to the guidance on extenuating circumstances in the Application Guide for information about how to declare this so that your application can be considered appropriately.
References
You will need to register three referees who can give an informed view of your academic ability and suitability for the course. The How to apply section of this page provides details of the types of reference that are required in support of your application for this course and how these will be assessed.
Supporting documents
You will be required to supply supporting documents with your application. The How to apply section of this page provides details of the supporting documents that are required as part of your application for this course and how these will be assessed.
Performance at interview
Interviews are not normally held as part of the admissions process.
Offer conditions for successful applications
If you receive an offer of a place at Oxford, your offer will outline any conditions that you need to satisfy and any actions you need to take, together with any associated deadlines. These may include academic conditions, such as achieving a specific final grade in your current degree course. These conditions will usually depend on your individual academic circumstances and may vary between applicants. Our 'After you apply' pages provide more information about offers and conditions.
In addition to any academic conditions which are set, you will also be required to meet the following requirements:
Financial Declaration
If you are offered a place, you will be required to complete a Financial Declaration in order to meet your financial condition of admission.
Disclosure of criminal convictions
In accordance with the University’s obligations towards students and staff, we will ask you to declare any relevant, unspent criminal convictions before you can take up a place at Oxford.
Other factors governing whether places can be offered
The following factors will also govern whether candidates can be offered places:
- the ability of the University to provide the appropriate supervision for your studies, as outlined under the 'Supervision' heading in the About section of this page;
- the ability of the University to provide appropriate support for your studies (eg through the provision of facilities, resources, teaching and/or research opportunities); and
- minimum and maximum limits to the numbers of students who may be admitted to the University's taught and research programmes.
Funding
For entry in the 2026-27 academic year, the collegiate University expects to offer over 1,100 full or partial graduate scholarships across a wide range of graduate courses.
If you apply by the January deadline shown on this page and receive a course offer, your application will then be considered for Oxford scholarships. For the majority of Oxford scholarships, your application will automatically be assessed against the eligibility criteria, without needing to make a separate application. There are further Oxford scholarships available which have additional eligibility criteria and where you are required to submit a separate application. Most scholarships are awarded on the basis of academic merit and/or potential.
To ensure that you are considered for Oxford scholarships that require a separate application, for which you may be eligible, use our fees, funding and scholarship search tool to identify these opportunities and find out how to apply. Alongside Oxford scholarships, you should also consider other opportunities for which you may be eligible including a range of external funding, loan schemes for postgraduate study and any other scholarships which may also still be available after the January deadline as listed on our fees, funding and scholarship search tool.
Details of college-specific funding opportunities can also be found on individual college websites:
Please refer to the College preference section of this page to identify which of the colleges listed above accept students for this course.
For the majority of college scholarships, it doesn’t matter which college, if any, you state a preference for in your application. If another college is able to offer you a scholarship, your application can be moved to that college if you accept the scholarship. Some college scholarships may require you to state a preference for that college when you apply, so check the eligibility requirements carefully.
Further information about funding opportunities for this course can be found on the department's website.
Costs
Annual course fees
The fees for this course are charged on an annual basis.
Fees for the 2026-27 academic year at the University of Oxford
What do course fees cover?
Course fees cover your teaching as well as other academic services and facilities provided to support your studies. Unless specified in the additional information section below, course fees do not cover your accommodation, residential costs or other living costs. They also don’t cover any additional costs and charges that are outlined in the additional costs information below.
How long do I need to pay course fees?
Course fees are payable each year, for the duration of your fee liability (your fee liability is the length of time for which you are required to pay course fees). For courses lasting longer than one year fees will usually increase annually, as explained in the University’s Terms and Conditions.
Graduate students who have reached the end of their standard period of fee liability will be required to pay a University continuation charge and/or a college continuation charge.
The University continuation charge, per term for entry in 2026-27 is £656, please be aware that this will increase annually. For part-time students, the termly charge will be half of the termly rate payable by full-time students.
If a college continuation charge applies (not applicable for non-matriculated courses) it will be between £150 and £500, as explained in our information about continuation charges. Please contact your college for more details, including information about whether your college's continuation charge is applied at a different rate for part-time study.
Where can I find more information about fees?
Our fees and other charges pages provide further information, including details about:
- course fees and fee liability;
- how your fee status is determined;
- changes to fees and other charges; and
- continuation charges.
Information about how much fees and other costs will usually increase each academic year is set out in the University's Terms and Conditions.
Additional costs
MPhil component
DPhil component (indicative costs, based on study in the 2025-26 academic year)
Living costs
In addition to your course fees and any additional course-specific costs, you will need to ensure that you have adequate funds to support your living costs for the duration of your course.
Living costs for full-time study
For the 2026-27 academic year, the range of likely living costs for a single, full-time student is between £1,405 and £2,105 for each month spent in Oxford. We provide the cost per month so you can multiply up by the number of months you expect to live in Oxford. Depending on your circumstances, you may also need to budget for the costs of a student visa and immigration health surcharge and/or living costs for family members or other dependants that you plan to bring with you to Oxford (if dependant visa eligibility criteria are met).
Further information about living costs
The current economic climate and periods of high national inflation in recent years make it harder to estimate potential changes to the cost of living over the next few years. For study in Oxford beyond the 2026-27 academic year, it is suggested that you budget for potential increases in living expenses of around 4% each year – although this rate may vary depending on the national economic situation.
A breakdown of likely living costs for one month during the 2026-27 academic year are shown below. These costs are based on a single, full-time graduate student, with no dependants, living in Oxford.
| Lower range | Upper range | |
|---|---|---|
| Food | £315 | £545 |
| Accommodation | £825 | £990 |
| Personal items | £160 | £310 |
| Social activities | £50 | £130 |
| Study costs | £35 | £90 |
| Other | £20 | £40 |
| Total | £1,405 | £2,105 |
For information about how these figures have been calculated as well as tables showing the likely living costs for nine and twelve months, please refer to the living costs page of our website.
College preference
Students enrolled on this course will belong to both a department/faculty and a college. Please note that ‘college’ and ‘colleges’ refers to all 43 of the University’s colleges, including those designated as societies and permanent private halls (PPHs).
If you apply for a place on this course you will have the option to express a preference for one of the colleges listed below, or you can ask us to find a college for you. Before deciding, we suggest that you read our brief introduction to the college system at Oxford and our advice about expressing a college preference.
If you are a current Oxford student and you would like to remain at your current Oxford college, you should check whether it is listed below. If it is, you should indicate this preference when you apply. If not, you should contact your college office to ask whether they would be willing to make an exception. Further information about staying at your current college can be found in our Application Guide.
The following colleges accept students on the MPhil + DPhil in Economics:
Before you apply
Our guide to getting started provides general advice on how to prepare for and start your application, including advice to help you evaluate whether your application is likely to be competitive.
If it is important for you to have your application considered under a particular deadline – eg under the January deadline in order to be considered for Oxford scholarships – we recommend that you aim to complete and submit your application at least two weeks in advance. Check the deadlines on this page and the information about deadlines and when to apply in our Application Guide.
Application fee waivers
An application fee of £75 is payable for each application to this course. Application fee waivers are available for the following applicants who meet the eligibility criteria:
- applicants from low-income countries;
- refugees and displaced persons;
- UK applicants from low-income backgrounds; and
- applicants who applied for our Graduate Access Programmes in the past two years and met the eligibility criteria.
You are encouraged to check whether you're eligible for an application fee waiver before you apply.
Readmission for current Oxford graduate taught students
If you're currently studying for an Oxford graduate taught course and apply to this course with no break in your studies, you may be eligible to apply to this course as a readmission applicant. The application fee will be waived for an eligible application of this type. Check whether you're eligible to apply for readmission.
Do I need to contact anyone before I apply?
You do not need to contact the department before you apply but you are encouraged to visit the relevant departmental webpages to read any further information about your chosen course.
Applying for the MPhil in Economics
Please note that if you are applying for this course and your application is unsuccessful, your application will automatically be considered for the MPhil in Economics, even if you have not indicated in the application form that you want to be considered for other courses. You will not need to make an additional application for the MPhil course or pay an additional application fee to be considered for both courses under these circumstances. If an application is unsuccessful for the MPhil + DPhil in Economics, but is accepted for the MPhil, then you will receive notification of an offer for the MPhil. If an application is unsuccessful for the MPhil + DPhil in Economics, and you receive notification of a rejection, then you were considered for the MPhil but were unsuccessful, therefore you will not receive an offer for either course.
Completing your application
You should refer to the information below when completing the application form, paying attention to the specific requirements for the supporting documents.
If any document does not meet the specification, including the stipulated word count, your application may be considered incomplete and not assessed by the academic department. Expand each section to show further details.
Referees:
Three overall, academic and/or professional
Whilst you must register three referees, the department may start the assessment of your application if two of the three references are submitted by the course deadline and your application is otherwise complete. Please note that you may still be required to ensure your third referee supplies a reference for consideration.
It is recommended that you provide three academic references, however the department will accept one professional reference of the three required overall.
Your references will support intellectual ability, academic achievement, and motivation.
Official transcript(s)
Your transcripts should give detailed information of the individual grades received in your university-level qualifications to date. You should only upload official documents issued by your institution and any transcript not in English should be accompanied by a certified translation.
More information about the transcript requirement is available in the Application Guide.
CV/résumé
A CV/résumé is compulsory for this course. Most applicants choose to submit a document of one to two pages highlighting their academic achievements and any relevant professional experience.
Personal statement:
A maximum of 800 words
Your statement should be written in English and explain your motivation for applying for the course at Oxford, your relevant experience and education, and the specific areas that interest you and/or you intend to specialise in.
If possible, please ensure that the word count is clearly displayed on the document.
This will be assessed for:
- your reasons for applying;
- evidence of motivation for and understanding of the proposed area of study; and
- the ability to present a reasoned case in English.
Written work:
One essay of a maximum of 2,000 words
An academic essay or other writing sample from your most recent qualification, written in English, is required. An extract of the requisite length from longer work is also permissible. The written work should be related to the subject you propose to study.
The written work should be typed and in English. The word count does not need to include any bibliography or brief footnotes. If you include any tables or figures, please make a reasonable estimate of the space taken up by a roughly equivalent number of words, and adjust the number of words accordingly.
If possible, please ensure that the word count is clearly displayed on the document.
This will be assessed for:
- a comprehensive understanding of the subject area;
- understanding of problems in the area;
- ability to construct and defend an argument;
- powers of analysis; and
- powers of expression.
GRE General Test results
If you do not hold, or will not shortly hold, a UK or Republic of Ireland undergraduate or postgraduate degree, you must submit the results of a GRE Test obtained within the last 5 years. Applicants from UK or Republic of Ireland universities may also choose to submit a GRE score. Entrance is very competitive, and most successful applicants have a GRE score of at least 160 for verbal, 164 for quantitative and 4.5 for analytical.
Start or continue your application
You can start or return to an application using the relevant link below. As you complete the form, please refer to the requirements above and consult our Application Guide for advice.
After you've submitted your application
Your application (including the supporting documents outlined above) will be assessed against the entry requirements detailed on this course page. Whether or not you have secured funding will not be taken into consideration when your application is assessed. You can find out more about our shortlisting and selection process in our detailed guide to what happens next.
Find out how to manage your application after submission, using our Applicant Self-Service tool.