Health Economics and Decision Science

The MSc in Health Economics and Decision Science at University College London (UCL) is a comprehensive postgraduate program designed to equip students with advanced knowledge and practical skills in health economics, decision science, and health policy analysis. This course is ideal for recent graduates and healthcare professionals aiming to contribute to evidence-based decision-making in healthcare systems worldwide. The program covers a wide range of topics including economic evaluation methods, clinical decision modeling, health technology assessment, and the application of decision science principles to improve health outcomes. Students will engage with real-world case studies, develop quantitative analysis skills, and explore the ethical, social, and policy implications of health economic decision-making. The curriculum combines rigorous theoretical foundations with applied research techniques, preparing graduates to work in diverse fields such as health technology assessment agencies, government health departments, pharmaceutical companies, and academic research. The program also emphasizes the use of specialized software for economic modeling and data analysis, fostering practical competencies essential for professional success. Taught by leading experts in health economics and decision sciences, the course encourages critical thinking and interdisciplinary collaboration. Throughout the program, students have access to UCL’s extensive library resources, research centers, and networking events, providing excellent opportunities for academic growth and professional development. Graduates of the MSc in Health Economics and Decision Science leave equipped to influence healthcare policy, optimize resource allocation, and conduct impactful research in the healthcare sector. Whether aiming to influence policy at a national level or to advance research in health economics, students will find this program to be a valuable stepping stone toward a dynamic career dedicated to improving health outcomes through informed decision-making.

Students choose between a decision science or economics stream and complete eight taught modules and a project. Some students will have the opportunity of an industry internship. All graduates will understand how the political, economic and physical context of health systems, frames the application of economics and decision science. Graduates will be able to conduct rigorous cost effectiveness analyses of health technologies and interventions.

Students undertake modules to the value of 180 credits.

The programme consists of four core modules (60 credits), four optional modules (60 credits) and a research project (60 credits).

Core modules

At least four modules (60 credits) must be selected from the following list. The selection of core modules is specific to the student's preferred stream.

• Health Systems in a Global Context
• Health Policy and Reform
• Economic Evaluation
• Introductory Microeconomics
• Medical Statistics I
• Econometrics
• Key Principles of Health Economics
• Modelling for Decision Science
• Microeconomics for Health

Optional modules

• Bayesian Methods in Economic Evaluation
• Health Economics
• Social Determinants of Health
• Concepts and Controversies in Global Health
• Climate Change and Health
• The PPE of Health
• Medical Statistics II
• Research Methods and Evidence for Global Health
• Economics of Health and Population
• Urban Health

In addition to the modules listed, student may selected one optional module from any department in UCL.  

Dissertation/report

All students undertake an indepedant research project, which culminates in a dissertation of up to 10,000 words (60 credits). Some students may conduct their research project together with industry partners.

Teaching and learning

Teaching will be delivered using a wide range of methods including classroom teaching, peer-led seminars, online lectures and practical exercises, moderated debates, group exercises and reading and writing tasks. Assessment varies from written examinations, to essays, portfolios and oral presentations.

Placement

A number of students will have the opportunity to undertake an industry placement. This will not be assessed as part of the programme and access to placements is voluntary and based on open competition.

A minimum of an upper second‐class UK Bachelor's degree or an overseas qualification of an equivalent standard in a relevant, quantitative subject.

Commonwealth Shared Scholarship Scheme (CSSS)

Value:

Full fees, flights, stipend, and other allowances (1 year)

Eligibility:

Overseas students

Criteria:

Based on both academic merit and financial need

Health Economics and Decision Science at University College London offers an advanced understanding of the economic evaluation of healthcare interventions and policies. The program combines rigorous training in economic principles with decision science techniques to equip students with the skills needed to assess health technologies, develop cost-effective strategies, and inform policy decisions. The curriculum covers core topics such as health economic modelling, cost-effectiveness analysis, statistical methods, and decision analysis, complemented by modules on health policy, equity, and ethics. Students engage in practical data analysis and modelling exercises using real-world datasets, preparing them for roles in academia, government agencies, think tanks, and the pharmaceutical or healthcare industry. The program is designed for graduates with backgrounds in health sciences, economics, mathematics, or related fields, aiming to produce professionals capable of applying quantitative skills to complex healthcare challenges. It emphasizes critical thinking, methodological rigor, and policy relevance, fostering interdisciplinary collaboration and communication skills. The program typically includes coursework, seminars, and a substantial dissertation or project component, allowing students to explore a specific area of interest in depth. UCL's reputation, extensive research resources, and connections to healthcare institutions provide students with valuable networking opportunities and access to leading experts in health economics and decision sciences. Graduates of this MSc program are well-positioned for careers in health technology assessment agencies, governmental health departments, international health organizations, and private sector consulting firms. The program's interdisciplinary approach ensures students gain a comprehensive understanding of how economic and decision science principles can be applied to improve healthcare systems globally.