Economics

The Oxford University Economics Programme offers an exceptional opportunity for students to develop a comprehensive understanding of economic principles, theories, and applications. This rigorous course is designed to equip students with both core knowledge and advanced analytical skills necessary to analyze complex economic issues at local, national, and global levels. Throughout the programme, students explore a wide range of topics including microeconomics, macroeconomics, econometrics, development economics, and public policy, fostering a well-rounded perspective on economic challenges and solutions. The curriculum emphasizes critical thinking, quantitative analysis, and problem-solving abilities, preparing graduates for diverse careers in academia, government, international organizations, financial institutions, and the private sector. Students benefit from Oxford’s distinguished teaching faculty, state-of-the-art research facilities, and a vibrant academic community that encourages intellectual inquiry and debate. The programme also offers opportunities for practical training through internships, research projects, and collaboration with policymakers and industry leaders. With a strong emphasis on empirical evidence and innovative approaches, graduates leave equipped to contribute meaningfully to economic analysis and policy formulation. The Oxford Economics Programme embodies a tradition of excellence and rigorous scholarship, fostering graduates who are analytical, ethical, and globally aware, ready to address pressing economic issues in an interconnected world.

There are two main routes leading to a DPhil at Oxford. The first route is the two-year Oxford MPhil in Economics course followed by a further two or three years of research for the DPhil. The MPhil provides training in economics at graduate level, comparable to the first two years of the PhD programme at the best international universities.

If you have not completed the MPhil in Economics at the University of Oxford but hold a master’s degree or equivalent in economics and wish to undertake research for the DPhil then you may apply to be admitted as a Probationer Research Student (PRS). In this case you will usually be required to take a year of coursework, roughly equivalent to the second year of the MPhil course.

You can 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.

Applicants are normally expected to have achieved a first-class or strong upper second-class undergraduate degree with honours (or equivalent international qualifications), as a minimum, in economics or another approved subject (such as mathematics), and demonstrate a strong quantitative preparation.

Applicants must also be predicted or to have achieved an outstanding performance in a rigorous master's course in economics as a minimum, and offers will be made conditional on obtaining a distinction grade (or an equivalent level of performance where a distinction grade is not officially awarded).

Note that a master's qualification that is only partially in economics would not be considered a suitable background. For example a master's course in development studies, public administration, or in finance lacks the required level of economics content, even if there are economics courses as part of the training.

Note also that a master's qualification in a specialised field within economics (e.g. development economics, applied economics, or financial economics) may also be insufficient background. Candidates with these qualifications should provide a written statement as part of their research proposal to demonstrate that the courses on which they have been examined covered all the core material of a rigorous master's course in economics.  

Applicants with an insufficient master's background in economics who wish to proceed to DPhil are encouraged to first apply to the MPhil in Economics. 

For applicants with a degree from the USA, the minimum GPA sought is 3.7 out of 4.0.

If you hold non-UK qualifications and wish to check how your qualifications match these requirements, you can contact the National Recognition Information Centre for the United Kingdom (UK NARIC).

All applicants must submit the results of a Graduate Record Examination (GRE) test taken within the last five years. Entrance is very competitive and most successful applicants will have a GRE score of Verbal 160, Quantitative 164, Analytical 4.5.

• Official transcript(s)
• CV/résumé
• Research proposal: Two to three pages
• Written work:One essay of 2,000 words
• GRE General Test results
• References/letters of recommendation:Three overall, generally academic

ENGLISH LANGUAGE REQUIREMENTS

Higher level

• Global Education
• Hill Foundation Scholarships
• A number of Research Council awards are available each year from the Economic and Social Research Council (ESRC), the Natural Environment Research Council (NERC), and Arts and Humanities Research Council (AHRC).

Economics at the University of Oxford is a highly esteemed undergraduate program offered by the Department of Economics, situated within the Faculty of Philosophy. This program is designed to provide students with a comprehensive understanding of economic theory, both microeconomics and macroeconomics, alongside quantitative methods and real-world applications. The curriculum emphasizes rigorous analytical thinking, mathematical skills, and empirical research, preparing graduates for diverse careers in finance, policy, academia, and beyond.

Students entering the Economics course at Oxford can expect to engage with core modules such as Principles of Economics, Mathematical Methods for Economics, and Quantitative Economic Analysis in the first year. As they progress into the second and third years, the coursework allows for specialization, covering areas such as Development Economics, International Economics, Public Economics, and Behavioral Economics. The program also offers options for applied research projects, often involving data analysis and policy evaluation, encouraging practical, real-world problem-solving skills.

The teaching methodology combines lectures, tutorials, seminars, and supervisions. Supervisions—small-group sessions—are a distinctive feature of Oxford’s tutorial system, providing personalized attention and in-depth discussion of academic material. Assessment methods include written examinations and research essays, with a focus on clarity of argument, mathematical reasoning, and empirical evidence.

Students benefit from access to state-of-the-art facilities, extensive academic resources, and a vibrant intellectual community that fosters debate and collaboration. The university’s location in Oxford offers numerous opportunities for networking, internships, and engagement with leading economists and policymakers. Graduates of the Oxford Economics program have gone on to successful careers in academia, governmental agencies, private sector industries, and international organizations.

Admissions are highly competitive, with applicants expected to demonstrate strong academic records, exceptional mathematical ability, and a keen interest in economic issues. The program’s rigorous curriculum and distinguished faculty ensure that graduates are well-prepared for further study or professional work in economics and related fields. Overall, Oxford’s Economics degree offers an outstanding education grounded in tradition, excellence, and a commitment to fostering future leaders in economic thought and policy.