MRes/PhD Finance & Economics

What you get

You get a full scholarship plus a stipend of about EUR 27,000 per year (around £23,000) for a six-year doctoral programme at Warwick Business School near Coventry in the UK. A stipend is a regular living allowance. The scholarship covers all tuition fees for both UK and international students, plus a travel budget for conferences and workshops. Your visa and Immigration Health Surcharge costs are refunded after you enrol. The programme runs as 2+4 years: two years of MRes (Master of Research, a research-focused master's) with taught modules and a dissertation, then four years of PhD if you pass the admissions panel. It is run jointly with the University's Department of Economics and prepares you for academic posts, central banks and international organisations. You do not apply for the funding separately; everyone who receives an offer gets it automatically.

Who can apply

• Degree: You have an honours bachelor's degree plus a master's in Economics or Finance. Accounting or Financial Mathematics count if they include a strong finance element.
• Grades: Ideally a first-class bachelor's and a distinction in your master's. These are guidelines, not hard cut-offs.
• GMAT or GRE: You include a GMAT or GRE test score with your application. There is no minimum score, but it strengthens your case.
• English: If English is not your first language, you need a recent test result, for example IELTS 7.0 overall (each part at least 6.0 to 6.5), TOEFL iBT 100 or PTE Academic 70. The test must be under two years old.
• References: You need two academic references, and they must reach the university before the deadline.
• Nationality: UK, EU and international applicants can all apply, and the full funding applies to everyone.
• Research proposal: Not required.

How to apply

Apply online through the University of Warwick applicant portal (course code P-N3P5) by 31 January 2026, for a start on 28 September 2026. Make sure all documents, including both references, arrive by the deadline. Incomplete applications are withdrawn. If you are shortlisted, you are invited to an online interview before any offer is made.

How realistic are your chances?

Competition is strong. This is a fully funded doctoral place aimed at future academics, and the number of places is limited. To stand out you need a quantitative economics or finance master's, top grades and a solid GMAT or GRE score. If you clearly meet those criteria, submit early so your references arrive in time. A rushed, incomplete application will simply be dropped.