Economics

Study mode:On campus Study type:Full-time Languages: English
Local:$ 25.1 k / Year(s) Foreign:$ 25.1 k / Year(s)  
27 place StudyQA ranking:5383 Duration:10 months

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This programme is located in the Department of Management, and is taught in conjunction with the Department of Economics.

Students will study in both the Department of Management and the Department of Economics. The former is newly established, bringing together a number of previously separated management groups to form what we envisage will become one of the leading management departments in Europe. The Department is in the process of developing a range of new programmes and you could be one of the first students to graduate from what we expect to become a large and vibrant community of alumni.

From 2008, the Department will be located in our New Academic Building which will provide students with state of the art facilities. The Department of Economics is one of the largest Economics departments in the world, renowned for its research and contributions to the development of the subject area.

The course has been designed with potential employers in mind. Students can reasonably aspire to find good employment opportunities in business, consultancy and finance.

The MSc Management and Economics is a specialist multidisciplinary degree programme. The programme is aimed at students with a strong analytical background who wish to combine economics at master's level with analytical courses in the management area. The degree is built around a central core course entitled Firms and Markets which uses graduate level microeconomics with a focus on understanding firm's market strategies. Particular emphasis is placed on the role of this course in both developing analytical skills and in showing how these analytical skills can be deployed in practical strategic settings. Building on this foundation, graduates will be well equipped to go either to PhD level study or to employment opportunities in industry, finance and consulting.

Beyond the basic concepts in the Firms and Markets course, students take an Econometrics course comprising two halves. In the first half, students develop a thorough understanding of econometric methods, together with a thorough grounding in their application to practical empirical problems. The second half covers new developments in the use of econometric methods within the industrial organisation field. All students are required to take a first course in Corporate Finance in the first term, and they have the option of continuing with Corporate Finance in the second term. Further courses offered in the second term cover areas such as the analysis of globalisation and the study of entrepreneurial strategy, each of which builds directly on analytical tools developed in the Firms and Markets course. What distinguishes this degree both from MBA programmes offered elsewhere and from other programmes currently offered within the School is that it combines the same level of analytical training as the MSc Economics degree with the more applied scope and coverage characteristic of master's degrees in management schools.

To succeed on the programme you need to prove that you can work to a high standard and have excellent analytical ability. For most British students, you should have concentrated exclusively in your first degree on economics and quantitative subjects (not business studies), with standard courses in intermediate macro and microeconomics, and a number of advanced courses that use these as prerequisites. You should have a solid quantitative background with at least a year of calculus and statistics and should, for instance, know how to handle maximisation of a function of several variables subject to constraint, and be able to explain what is meant by an efficient estimator. The core economics and econometrics courses assume a knowledge of constrained optimisation, matrix algebra and basic statistics.

We expect students to have very good grades and will only consider students with the equivalent of first class honours in their first degree. All graduates of non-UK institutions must have taken the GRE test no more than five years before applying, and must include the test scores with their application.

We do not require a specific mark but the test gives us an indication of aptitude for economics. Typically we expect candidates to score in the top 10 per cent in the quantitative section of the test (ie in the 90th percentile or higher). A higher score will count in your favour, but other information, such as grades and references will matter more in the overall evaluation. We recognise that if your first language is not English, the verbal test will present special difficulties and we view your score on that basis.
Students are required to attend introductory September courses in mathematics, statistics, economics and econometrics before the main teaching programme starts in October.

Students are required to attend the Introductory Course in Mathematics and Statistics before the main teaching programme starts in October.

The programme has been designed with potential employers in mind. Students can reasonably aspire to find good employment opportunities in business, consulting and finance.

Students who have not majored in economics for their undergraduate degree should consider applying for the two year MSc Economics and then transferring to this programme upon successful completion or year one.

Compulsory courses
(* half unit)

* Firms and Markets
* Econometric Methods
* Corporate Finance A*
* Extended Essay*

Options
Choose two from the following:

* Globalisation and Strategy*
* Entrepreneurial Strategy*
* Thinking Strategically*
* Systems Thinking and Strategic Modelling*
* The World Trading System*
* Strategy for the Information Economy*
* Applied Corporate Finance*
* Corporate Finance Theory*
* Management Accounting, Decisions and Control*
* The Future of the Multinational Firm*
* Business Model Innovation at the 'Base of the Pyramid'*

Subject to the approval of the course tutor

Students may choose an outside option, a course which is not on the above list, with the approval of the academic adviser and course leader.

Minimum entry requirement: 1st class bachelors degree or equivalent in EconomicsGRE/GMAT requirement: Graduates of non-UK institutions are required to submit a GRE scoreEnglish language requirements * TOEFL (Test of English as a Foreign Language) with a minimum score of 627 in the paper test or 107 in the internet based test * IELTS (International English Language Testing System) with a minimum score of 7.0 English Language Requirements IELTS band: 7 CAE score: (read more) Cambridge English: Advanced (CAE) is part of the Cambridge English suite and is targeted at a high level (IETLS 6.5-8.0). It is an international English language exam set at the right level for academic and professional success. Developed by Cambridge English Language Assessment - part of the University of Cambridge - it helps you stand out from the crowd as a high achiever. 80 (Grade A) TOEFL paper-based test score : 627 TOEFL iBT® test: 107 IMPORTANT NOTE: Since April 2014 the ETS tests (including TOEFL and TOEIC) are no longer accepted for Tier 4 visa applications to the United Kingdom. The university might still accept these tests to admit you to the university, but if you require a Tier 4 visa to enter the UK and begin your degree programme, these tests will not be sufficient to obtain your Visa. The IELTS test is most widely accepted by universities and is also accepted for Tier 4 visas to the UK- learn more.

Fee reductions and rewards
LSE undergraduates starting taught postgraduate study at the School are eligible for a fee reduction in the region of ten per cent of the fee. These reductions are available for UK, EU and non-EU students. The School offers a range of rewards for early payment of fees for all self-financed students.

Scholarships for study at LSE

LSE makes available over £12 million annually in financial support for its students via a range of scholarships, bursaries and award schemes, details of which can be found on these pages. LSE's world class programmes attract a consistently high calibre of applicants, many of whom seek financial support from the School, so there is always much competition for our awards. Securing the necessary funds to attend LSE can be a difficult and time consuming process so you should start to think about it as early as possible. Please be aware that the School will be unable to offer you any financial assistance if you knowingly register under funded. The relevant link on the left will take you to the awards available for your chosen level of study.

The School would like to thank the many donors who have contributed to the New Futures Fund, which provides funds for a number of discretionary scholarships.

Diploma, LLM, MA, MSc and MSc (Research) programmes

There are a range of awards available for study at this level. Approximately 19% of taught masters offer holders are successful in obtaining some form of financial support from the School. The value of support ranges in value from 10% of the tuition fee to a full fees and maintenance award.

Graduate Support Scheme

LSE's major financial support scheme for study at taught masters level is the Graduate Support Scheme (GSS). This scheme is open to all applicants, with the exception of those undertaking specific modular or executive programmes such as the MSc in Finance (Part time) or the MSc in Health Economics, Policy and Management. Around £2 million is available annually in the form of awards from the Graduate Support Scheme. The Scheme is designed to help students who do not have sufficient funds to meet all their costs of study. GSS awards range in value from £3,000 to a maximum of £10,000, and have an average value of £6,000. Application to the Graduate Support Scheme is via the LSE Graduate Financial Support Application form. This form will be made available to you once you have submitted an application for admission to the School. The form will then be available until 27 April 2011.

Awards

If you complete the LSE Graduate Financial Support Application form, and are made an offer of admission by 27 April 2011, you will also be automatically considered for any other awards being offered by LSE, for which you are eligible, with the exception of Arts and Humanities Research Council (AHRC) and Economic and Social Research Council (ESRC) funding where there are separate, department led processes in place. AHRC and ESRC funding is relevant to Home UK and Home EU applicants only, and there are also subject restrictions in place. We offer a range of awards based on different criteria such as a specific programme of study, nationality, or country of permanent domicile. In addition, a number of external organisations offer funding to support postgraduate study. We recommend that applicants follow up as many avenues as possible to find funding. Please be aware that if you accept funding from an external source, it is your responsibility to check the terms of the award. Some awards are accompanied by specific terms and conditions which you should be sure you able to meet before accepting the award. Information about other Awards offered by LSE or external organisations. Please take some time to look at all the other awards available to support your study at LSE. The details of these awards are updated each October, but new LSE awards may become available during the course of the admissions cycle. We will only write to successful applicants for these awards. Selection for these awards will take place between May and July 2011 and all successful applicants will be notified by 31 July 2011.

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