Management Science

Description

Managers in industry, business, government and defence are often confronted with difficult decisions and need a rational basis on which to make them. The management sciences are a range of methods used to assist managers through applying scientific and quantitative approaches to the management of organisations, often involving the construction of computable models of the key features in decision-making.

Recent graduates have gone on to work in the areas of operational research, management consultancy and services and operational support for financial institutions, particularly investment banks. Our graduates also go on to take postgraduate degrees in accounting, economics, information systems, management, as well as operational research and decision sciences.

Features of LSE courses

The degree consists of an analytic core and a wide range of options offered by LSE departments.

Each course on the degree is taught by experts from a wide range of LSE's different disciplines.

The degree is the only undergraduate degree based in the Operational Research Group.

While the degree principally teaches quantitative analysis of management decision making, you will also study the economic and social context of management, giving you a solid foundation for a career in business.

Detailed Course Facts

• EUR 3847 Year (EEA)
• EUR 16632 Year (Non-EEA)

Home UK/EU £3,375 for the first year. Non-UK/EU £14,592 for the first year.

• English

Course Content

First year:

(* half unit)

• Economics A or Economics B
• Quantitative Methods
• Elements of Accounting and Finance
• Information Technology and Society
• LSE100 (Lent Term only)

Second and third years:

• Operational Research Methods
• Statistics for Management Sciences
• Model Building in Operational Research
• Decision Sciences in Theory and Practice
• Four options in statistics, management, marketing, information systems, economics, accounting, law or industrial relations
• LSE100 second year (Michaelmas Term in second year only)

First year

You take four compulsory courses. Quantitative Methods is an introductory 'how to do it' course designed to prepare you for using mathematics seriously in the social sciences, or in any other context. Elements of Accounting and Finance will introduce you to the preparation, uses and limitations of accounting information and the problems of finance and investment. Information Technology and Society explores concepts and themes concerning the role of computer-based information systems in society. Your final course is an economics unit which will depend on your prior knowledge of the subject.

Second and third years

You take four compulsory courses. Operational Research Methods is an introduction to all the main theoretical techniques of operational research. Statistics for Management Sciences emphasises the application of statistical techniques which have proved useful in the management sciences. Two further compulsory courses are: Model Building in Operational Research, a course concerned with analysing management problems by the development of computer based models; Decision Sciences in Theory and Practice, a widely used approach to evaluating alternative organisational strategies.

You also choose four options from a variety of quantitative and non-quantitative courses, depending on your particular interests and strengths.

Options

(* half unit)

Some courses cannot be chosen simultaneously with others and some of the Management Science options are available as half units as well as full units.

Management Science

• Applied Management Sciences
• Further Quantitative Methods (Mathematics)*
• Game Theory I*
• Demographic Description and Analysis
• Actuarial Investigations - Financial*
• Aspects of Marketing Management
• Aspects of Market Research*
• Simulation Modelling and Analysis*

Accounting and Finance

• Managerial Accounting
• Principles of Finance
• Corporate Finance, Investments and Financial Markets or Quantitative Finance

Economics

• Macroeconomic Principles
• Microeconomic Principles
• Economics for Management
• Introduction to Econometrics

Management

• Organisation Theory and Behaviour
• Information Systems in Business
• Market Research - an Integrated Approach
• International Marketing - a Strategic Approach

Law

• Commercial Law

third year course

English Language Requirements

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: At GCSE level a high proportion of A and A* results are preferred, especially in Mathematics, English and a foreign language. Generally traditional subjects should be offered. At A level or the equivalent, traditional subjects are preferred although one non-traditional subject may be acceptable. In choosing mathematics topics as many as possible should be 'pure'. If all A level subjects offered are scientific, an AS should be offered in an arts subject.

Usual standard offer: A level: grades B B B to A B B, one of which must be MathematicsInternational Baccalaureate: Diploma with 37 points including 6 6 6 at Higher level (to include 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.