MPhil + DPhil in Economics

What you get

You study for a combined economics degree at the University of Oxford: a two-year taught MPhil, followed by a three- to four-year research DPhil (Oxford's name for a PhD), starting in September. The Department of Economics gives full funding for the first five years to students on this combined track. The standard package covers your tuition fees and living costs at UKRI level (the UK research council's standard rate) for the first two DPhil years. In the third DPhil year, your fees are covered, plus a stipend (a regular living allowance) that reaches the UKRI level once you add paid teaching work. Every applicant who applies by the funding deadline is automatically checked against more than 70 internal scholarship funds, so you do not apply to those separately. Extra named awards exist for specific groups. Examples are two fully funded Swire Scholarships for people from Hong Kong and a scholarship for MPhil applicants from an African country on the OECD aid list.

Who can apply

• Degree: You hold or expect a very strong undergraduate degree, usually a UK First Class Honours or the equivalent.
• Field of study: You already have substantial training in economics and top results in your previous studies.
• Your plan: You want to do both the MPhil and the DPhil at Oxford. If your application for the combined course fails, it is automatically considered for the MPhil alone, at no extra fee.
• Nationality: Open to all nationalities, including international students.
• English: You meet Oxford's higher English requirement (around IELTS 7.5 or TOEFL 110).
• Format: You study full-time and in person in Oxford.

How to apply

You apply through the University of Oxford graduate application. You submit academic references, transcripts and a statement of your research interests. Applications for 2026-27 are closed; registration for 2027-28 opens later. To be considered for funding, you must apply by the funding deadline, which for the last round was 27 January. Moving from the MPhil to the DPhil later depends on your performance, plus qualifying exams and an interview.

How realistic are your chances?

This is a highly competitive place. The MPhil route draws roughly 500 applications a year for around 90 places, and the entry bar (a First Class degree, strong prior economics and near-native English) is deliberately high. If you clearly meet those academic standards, the funding is a real advantage: strong applicants are covered for five years and reviewed automatically for over 70 funds. Apply by the January funding deadline so you are in the running for that money from the start.