Econometrics and Mathematical Economics

Description

Is globalisation increasing inequality within countries? Between countries? Why, as economies grow richer, are people often not any happier? Can government policies influence this? Why are some governments captured by elites and more prone to corruption than others? Should the central bank bail out failing banks - or might that encourage even more failures in the future? What steps should be taken now to combat global warming? Questions such as these, all of which are being examined by economists at LSE, illustrate the broad scope of economics today. Economics provides the means of analysing the key features of problems by formally modelling economic relationships and testing beliefs about economic behaviour against the available data. Studying economics is therefore about developing problem-solving skills, including mathematical and statistical techniques as well as more general analytical skills. A first degree in economics is an excellent preparation for a range of careers. Many of our graduates choose to pursue careers in the financial sector on graduation, for example in banking and financial services, analytical and trading fields, advising on mergers and acquisitions. Others choose to join international organisations; to become professional accountants and auditors, or to take up positions as economic or management consultants. A significant number choose to go on to graduate study, not only in economics but also in finance, management, development and other fields.

Features of LSE courses

The Economics Department is regularly ranked number one outside the USA for its published research in economics and econometrics. As an undergraduate in the Department, you will have the chance to learn from economists at the cutting edge of their field. The economics programme at LSE aims to provide students with a thorough grounding in the analytical methods of economics and to develop their skills in applying these methods to a diverse range of problems, both microeconomic and macroeconomic, in analysing and constructing complex arguments and in communicating these effectively. Our BSc Economics provides a well rounded coverage of the whole area of economics. The BSc Econometrics and Mathematical Economics enables you to build a particularly strong quantitative background, which is becoming more and more important for a successful career in economics. The BSc Economics with Economic History provides an option for students with a secondary interest in economic history and who are less interested in statistics and econometrics.

Detailed Course Facts

• English

Course Content

First year:

• Economics B
• Mathematical Methods
• Elementary Statistical Theory
• One outside option
• LSE100 (Lent Term only)

Second year:

• Microeconomic Principles II
• Principles of Econometrics
• Macroeconomic Principles or a course in mathematics
• Probability, Distribution Theory and Inference or an outside option
• LSE100 (Michaelmas Term only)

Third year:

• Econometric Theory or Economic Theory and its Applications or Problems of Applied Econometrics
• Two economics options
• 10,000 word project in quantitative economics

First year

You take an introductory course in economics, a mathematics course and statistics course. Your fourth course may be chosen from the wide range of options available at LSE.

Second and third years

There are compulsory second year courses in both microeconomics (the study of households and firms) and econometrics (the study of statistical methods applied to economics). You have a choice between macroeconomics and a mathematics course and between statistics or a course chosen from a long list of options from other departments. In the third year you will have the opportunity to specialise further, according to your interests. Some students are most interested in applied econometrics, some in theoretical econometrics, and some in mathematical economics. You can choose two other courses from a wide range taught by the Economics Department and other departments. You will also complete a project in quantitative economics, on a topic of your choosing. This will involve obtaining and analysing some data to answer a question of economic interest. You will be supervised by a member of staff and should find this an enjoyable element of the course. It provides excellent training for practical work in future employment or research.

Options

This list suggests the range of third year options offered on this degree. The list may change as new options are developed and others are withdrawn; not all options will necessarily be taught every year:

• Advanced Economic Analysis
• Auditing, Governance and Risk Management
• Corporate Finance, Investments and Financial Markets
• Development Economics
• Economic Analysis of the European Union
• Game Theory
• History of Economics: How Theories Change
• Industrial Economics
• International Economics
• Labour Economics
• Macroeconomic Principles
• Managerial Accounting
• Managerial Accounting, Financial Management and Organisational Control
• Model Building in Operational Research
• Monetary Economics
• Operational Research Methods
• Philosophy of Economics
• Political Economy
• Principles of Finance
• Probability, Distribution Theory and Inference
• Public Economics
• Quantitative Finance

English Language Requirements

IELTS band : 7 CAE score : 80(Grade A) TOEFL paper-based test score : 627 TOEFL iBT® test : 107

To study at this university, you have to speak English. We advice you to

Requirements

Course requirement: A level Mathematics is required. A level Economics is not essential. No other specific subjects are required at A level, but we would prefer traditional academic subjects to subjects such as Communication Studies, Accounting, Business Studies or Media Studies. An attractive selection of courses might be Mathematics and at least one physical science Usual standard offer: A level: grades A* A A, with A* in MathematicsInternational Baccalaureate: Diploma with 38 points including 7 6 6 at Higher level (with 7 in Mathematics)
Other qualifications are considered.

English language requirements

Although it is not necessary to have the required grade in an acceptable English Language qualification when you make your application to LSE, if you are made an offer of a place and English is not your mother tongue, it is likely that you would be asked to obtain an acceptable English Language qualification as a condition of your offer.

The following qualifications are acceptable to LSE:

• GCSE English Language with a grade B or better.
• International General Certificate of Secondary Education (IGCSE) English as a First Language with a grade B or better including the Speaking and Listening coursework component (Edexcel) or grade 2 in the optional speaking test (CIE).
• International English Language Testing Service (IELTS) academic test with a score of 7.0 in all four components.
• Test of English as a Foreign Language (TOEFL) with a minimum score of 627 in the paper test including 5.5 in writing and 50 in TSE, or 107 in the internet based test with a minimum of 25 out of 30 in each of the four skills.
• Cambridge Certificate of Proficiency in English (CPE) with grade B or better.
• Cambridge Advanced Certificate of English (CACE) with a grade A.
• Cambridge English Language (1119) conducted overseas by the University of Cambridge Local Examinations Syndicate: B4 or better.
• O level (1120 Brunei, 1125 Mauritius A, 1127 Singapore) grade B or better.
• Singapore Integrated Programme (IP) Secondary 4 English Language grade B or better.
• Pearson Test of English (General) with a distinction at level 5 in both the written and the oral test.

Exceptions

If students offer the IGCSE in English as a First Language or O level (other than those specified above) and have been educated in the medium of English during their five most recent years of study (prior to 1 September 2011), then we will accept the qualification as sufficient evidence of English Language proficiency.

Please note that test scores must be achieved from one sitting of the relevant qualification. We will not accept individual component scores from multiple tests.

Work Experience

No work experience is required.

Related Scholarships*

• Academic Excellence Scholarship

  "The Academic Excellence Scholarship can provide up to a 50 % reduction in tuition per semester. These scholarships will be renewed if the student maintains superior academic performance during each semester of their 3-year Bachelor programme. The scholarship will be directly applied to the student’s tuition fees."

• Access Bursary

  Bursary for UK students all subjects where the variable tuition fee rate is payable.

• Alumni Bursary

  Alumni Bursary for UK Undergraduate students

* The scholarships shown on this page are suggestions first and foremost. They could be offered by other organisations than London School of Economics and Political Science.

Funding

Financial support for 2011 entry

The School recognises that the cost of living in London may be higher than in your home town or country. Government support, in the form of loans and grants, is available to UK and some EU students, while LSE provides generous financial support, in the form of bursaries and scholarships to UK, EU and overseas students.

Government support

for students from England

Student loan for maintenance

The student loan for maintenance helps students pay living costs during term times and holidays. The maximum loan available for students studying in London and living away from their parents' home is currently £6,928.

Maintenance grants

The means-tested maintenance grant (currently worth up to £2,906) also helps students with living expenses during their time at university. The amount a student is eligible to receive is assessed by Student Finance England. The grant does not have to be repaid.

Special Support Grant

The special support grant replaces the maintenance grant for some students who during the course of the academic year, meet the conditions for being a 'prescribed person' under the income support or housing benefit regulations. Students who are likely to qualify include:

• Single parents
• Other student parents if they have a partner who is also a student
• Students with certain disabilities

Other students may be eligible for the Special Support Grant. You don't necessarily have to receive or even have applied for Income Support or Housing Benefit.

for students from elsewhere in the UK

Different financial support packages are available for students from Wales, Scotland and Northern Ireland. Students from these countries should refer to one of the following websites:

Student Finance Wales

www.studentfinancewales.co.uk

Student Awards Agency Scotland

www.saas.gov.uk

Student Finance Northern Ireland

www.studentfinanceni.co.uk

for EU students

Students from the EU are not usually eligible for UK Government financial support. However, EU nationals (or children of EU nationals) who have lived in the UK or islands for three years before the start of their course (ie, since 1 September 2008 for a course starting on 1 September 2011) may now qualify for a student loan and grants.

for overseas students

Students from outside the EU are not eligible to apply for UK Government funds. However, there is a range of funding available for overseas students from external agencies, bodies or your home government, details of which are available from your home government or nearest British Council office (www.britishcouncil.org/learning), or UKCISA (www.ukcisa.org.uk).

LSE financial support

for UK students

LSE Bursary

The LSE Bursary is available for students from low-income backgrounds (from England and Wales) and is worth up to £7,500 over a three-year programme. The value of the LSE Bursary is linked to students' (or their family's) income levels, which will be assessed when calculating the maintenance grant. The maximum LSE Bursary of £2,500 per year is awarded to those students with the lowest residual income. These Bursaries do not have to be repaid.

LSE Discretionary Bursary

The LSE Discretionary Bursary is available for new LSE students (from the UK and the EU) who face exceptional financial needs, including, for example, caring responsibilities, financial need related to disability or an unavoidable requirement to live at home. The value of the award may vary according to need. These Bursaries do not have to be repaid.

LSE Scholarships

Each year LSE awards a number of scholarships - funded by private or corporate donation - to UK applicants to the School. The number, value, eligibility criteria and type of awards vary from year to year. Awards are made on the basis of financial need and academic merit.

Stelios scholarships

Four Stelios scholarships, currently worth £5,444 per year, are available for UK students applying for business subjects at LSE.

Access to Learning funds

Registered UK students from low-income households can apply directly to LSE for Access to Learning funds. These funds are designed for students who may need extra financial support for their course, and are provided by the Government to assist with living expenses.

for EU students

LSE Discretionary Bursary

The LSE discretionary bursary is available to EU students. For information about this bursary and how to apply, please see the section on LSE financial support for UK students.

LSE scholarships

LSE offers a number of undergraduate scholarships of varying amounts each year to EU students.

Stelios scholarships

Six Stelios scholarships, currently worth £5,444 per year, are available for EU students applying for business subjects at LSE.

for overseas students

LSE undergraduate support scheme

The LSE undergraduate support scheme (USS) is designed to help overseas students who do not have the necessary funds to meet all their costs of study. In 2008, the School disbursed nearly £1 million in entrance awards available to self-financing students of all nationalities. This financial aid is available only for study at LSE. If you are made an offer of admission, we will advise you on how to apply to the USS online. This system is able to provide an immediate indication of an applicant's eligibility for assistance. In the first instance, you will be assessed on the basis of your financial circumstances. Awards are renewable for each year of your course. Applications will be considered between the end of February and the middle of August.

LSE scholarships

The School offers a limited number of undergraduate scholarships of varying amounts each year for overseas students.