Fully Funded PhD in Economics in UK
Pursuing a PhD in Economics is a significant academic milestone for students and professionals in economics. The course itself, with all its importance and advantages, comes with financial concerns, as the cost of self-funding a PhD degree can be overwhelming.
Fortunately, there are several universities in the United Kingdom that offer fully funded PhD programs in Economics. These institutions provide full financial support on tuition, research projects, teaching or research assistantships, and stipends to ensure that all monetary costs are well catered for, and students can then focus entirely on their studies or research.
This article highlights four universities in the UK providing fully funded PhD programs in Economics that would be ideal for your academic pursuits. Whether you’re planning on venturing into an academic career or taking on corporate roles in your field of specialization, these programs would provide all the academic and research resources you need to achieve your goals and make an impact in the economics industry.
1. London School of Economics and Political Science
The London School of Economics and Political Science (LSE) is one of the most prestigious social science universities in the world, offering courses in business, economics, and finance. The University was founded in 1895 and is located in the heart of the city of London. LSE has produced some of the best thinkers in economics, as the school pushes advanced academic and research standards in economics, political science, and other related fields.
The institution lies in the center of the city, close to key areas in London, such as major financial institutions, bank HQs, government, and international organization offices. This will offer students golden opportunities to connect, learn, and work with these organizations, giving them a chance to engage with real-world economic challenges.
The LSE offers a fully funded PhD in Economics program for students who want to further their studies and carry out research in areas like development economics, econometrics, and public policy. This funded program is a total academic package emphasizing rigorous training in effective and innovative methods of addressing global economic issues. To do this, possible financial restrictions are sorted for the students by providing resources covering tuition fees, annual tax-free stipends close to £21,000, and research support grants.
2. University of Cambridge
The University of Cambridge, established in 1209, is one of the oldest universities in the world today. Located in the picturesque city of Cambridge, the university has a historic yet modern camp setting that is surrounded by a serene riverside view, post-colonial era architecture, and world-class research facilities that provide a conducive environment for best academic practices and innovative inspiration
Known for its contribution to groundbreaking discoveries and innovation over the years, the University of Cambridge stands as a historic center for innovation in various fields, where students are trained in the culture of engaging deeply in their field of study or research in order to reach the highest level of excellence in their chosen fields. The University runs a DPhil program in Economics, which focuses on macroeconomics, financial economics, and international trade.
This prestigious university understands how difficult it can be to take a PhD in a course like Economics, especially after the completion of a BSc and MSc degree. The Department of Economics at Cambridge University offers a fully funded PhD in Economics program for qualified candidates. This funding package is full support for students and researchers alike, covering tuition, annual stipend, travel allowance, research budget, and even living cost allowances. This is to make sure that students get the proper training in theoretical and applied research processes, preparing them for roles in academic, government, and entrepreneurial industries without any distractions.
Application Deadline: Early December each year
3. University of Oxford
The University of Oxford is the oldest university in the United Kingdom and the English-speaking part of the world. It was founded in 1096, making it over 900 years old. It is situated in the historic city of Oxford, with a vibrant campus that provides an inspirational setting for study and research. The university is popularly known for its academic rigor and traditional excellence, which is implemented in various schools, colleges, and departments covering different fields, including science, engineering, social science, humanities, and even financial and politics-related fields.
The University of Oxford is the headquarters of major innovations and research-related courses in Europe and beyond due to the high-level technological facilities and resources it has. One major field the institution is passionate about is Economics. It supports interested students and researchers who are willing to delve into this field but are unfortunately limited by resources by awarding them fully funded scholarships.
Oxford offers the Fully Funded PhD in Economics program through its Department of Economics. The program provides full tuition coverage, a generous stipend of about £17,500 annually, and additional compensation for conferences and research activities. With this opportunity, students can specialize in fields like behavioral economics, development economics, and economics theories, doing in-depth research and contributing to chosen fields.
Application Deadline: January 28th every year.
4. University of Warwick
The University of Warwick was established in 1965 and has, for over 60 years, given the world some of the best minds through its key academic training and careful approach to educational excellence. The University is located in Coventry, England, with its landscape covering over 720 acres. It is designed with modern architectural pieces and key research centers that are not too far from major cities like Birmingham and London, making it equally accessible.
The university has a global reputation for its economic research program, particularly in applied and policy-oriented studies. The Department of Economics offers a fully funded program for PhD in Economics to help encourage and support individuals interested in making a significant impact in the world of economics.
With a stipend of £18,000 annually, tuition coverage, and living cost allowance, the university makes the DPhil in Economics attractive and much easier as students can fully focus on their training and interdisciplinary studies by engaging in collaboration and solving real-world issues while the Department handles all other finances and resources needed to achieve this.
Application Deadline: Late January annually.
Disclaimer :
The term “fully funded” is used to address a financial aid package where a student’s educational expenses are being taken care of. This may include;
- Full tuition payment: The total cost of tuition has been waived.
- Stipend/ Salary: A pre-agreed allowance is given to the student to cover living costs and other expenses during the program.
However, It is important to note that this is totally dependent on several factors such as lifestyle, cost of living, location, and other financial needs. Sometimes, the term “fully funded” is used by some programs even though they don’t provide for all your financial needs, expecting that you see them through part-time work, intentional or personal savings.
These programs usually expect students with fully funded offers to teach and conduct research while studying as part of the funding arrangement. It is also important to note that not all universities offer full funding, and students should, therefore, explore financial aid opportunities from various schools (including less popular and well-known ones) in order to find the one that perfectly meets their financial needs.
