Working while you are pursuing a course:
You are allowed to work no more than 20 hours a week during term time. This can make up for your living
while you are in UK. But its very important to note that courses are quite demanding and you may not get
enough time to work part time along with your studies, so its better to make financial arrangements such that
you do not depend upon part time work while studying. For more information click here

How difficult is to find a part time job:
Well, it depends upon area. While in and around london its relatively easy to get part time work, it may
get difficult as you move away from london.

How much you can expect to be paid for a part time job:
UK min wages are £5.52/hour which will yeild £110.40 a week if you work for 20 hours a week.

How much will be your expenditure:
Well its subjective, and depends upon
1). Your living style
2). Your location.
While in and around london the cost of living i.e accomodation can be very high, being in other citis like
southampton, bristol, guildford etc is reasonable.
You can get a room to rent in a shared house for about £60-£70 a week in cities like southampton.
If you are looking for a full house or flat to rent, the best UK site for finding a rented accommodation is
Rightmove.co.uk
 

Working after completing the course:
There are some schemes under which 'skilled' students may stay in the UK and look for work after competing
their education. These are:
1. SEGS (Science and Engineering Graduates Scheme)
2. IGS (International Graduates Scheme)
3. FT:WISS (Fresh Talent: Working in Scotland Scheme)

While the first 2 are applicable to England, the third is only applicable in scotland.
More information can be found here:

Getting a job in VLSI/Embedded s/w after completing your Masters.
If you have some experience, it definitely helps. And now that schemes like SEGS are in place, it has become
a bit less difficult to look for a  job. If the market conditions are good and you have about 2+ years of experience,
you can expect more interview calls in Embeddes s/w than VLSI. For fresh graduates, getting a job is tough
I am afraid. Here is a list of companies offering jobs in VLSI in the UK.

Which Universties are good for Masters in VLSI/Microelectronis in the UK?
Well I know about these ones, which are thought to be good:
1). Imperial College
2). Southampton University
3). Bristol University
4). Sheffield University
5). University of Surrey
6). University of Edinburgh
7). Umist Manchester
8). ISLI, Livingston Scotland.