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Universities United Kingdom London School of Economics Courses MSc Finance and Economics

MSc Finance and Economics
at London School of Economics

London, United Kingdom

Tuition Fee £ 32,208
Country Rank-
Duration10 Months
Score IELTS: 7 TOEFL: 100

Program Overview

The MSc Finance and Economics draws on the School's strengths in economics, finance and econometrics. It is aimed at students who are interested in gaining a deep understanding of the theory and practice of financial markets.

This interdisciplinary degree, taught jointly by the Department of Finance and the Department of Economics, offers exceptional graduates from quantitative disciplines the opportunity to study in two of the most highly rated departments in their subject areas in the world.

As we teach you not only how to apply and use various well-known models, but also to understand the fundamental concepts on which they are based, you will learn how to alter, test and adapt these models in new market environments. In learning what makes the models tick, you will develop an awareness of the assumptions on which they rely, and - increasingly important in today’s markets - of situations in which these assumptions can break down.

As well as developing your understanding of financial economics, financial econometrics, microeconomics and macroeconomics to a high level, you will have the opportunity to investigate two further specialist aspects of finance in elective courses.

The rigour of the Finance and Economics programme is recognised across the world. As the most academically oriented of our programmes, it provides an excellent grounding for students who are interested in progressing to a PhD in finance or in economics.

Successful applicants come from a variety of quantitative backgrounds including economics, mathematics, engineering, statistics, finance and others. To apply, you should have strong credentials in mathematics and a fascination for finance.

Course Content
Programme overview
The Department of Finance enjoys a pre-eminent reputation for the excellence of its teaching and research. Our diverse faculty and student body come from across the globe, providing a rich environment in which to research and study finance, ensuring that we continue to rank alongside the most highly-rated Departments in the world.

Students on the MSc Finance and Economics programme are required to complete courses to the total value of four full units, comprising three full-unit core courses and two half-unit optional courses.

Pre-sessional programme
All registered students will participate in a compulsory pre-sessional programme in August 2022. This combines academic preparation with professional development workshops and events.

Academic training
Students will take part in the EC400 Introductory Course in Mathematics and Statistics (before the main term-time teaching programme starts). The course includes treatment of dynamic programming, continuous time dynamic optimisation, quadratic forms, Kuhn-Tucker theorem, joint and conditional probability distributions, Gauss-Markov assumptions and maximum likelihood estimation, amongst other topics.

Professional development
Students will participate in careers skills development sessions delivered by in-house and external professionals. The programme also includes networking and social events with alumni, a City Speaker Series of interactive talks from leading finance professionals and preparation for technical finance interviews. The programme is designed to enable students to be ready for the competitive financial services sector job market.

Courses
You will take the following three units' worth of compulsory courses and will choose electives to the value of one unit from a range of courses within the Department, allowing you to tailor the programme to your interests. You will also write a 6000 word dissertation in place of an exam in one of your optional courses. You will also undertake a mandatory preparatory course in probability and stochastic calculus to complement the material taught in Financial Economics.

Financial Economics (taught entirely in first term)
Examines investors' behaviour, market equilibrium and asset pricing.

Financial Econometrics (taught over two terms)
Looks at the techniques of empirical investigation in economics and finance.

Either

Microeconomics (taught over two terms)
Develops the basic tools for analysing problems of resource allocation used by economists.

Or

Microeconomics for MSc F&E*
Develops the basic tools for analysing problems of resource allocation used by economists working in research, government and business

And
Macroeconomics for MSc F&E*
Focuses on the main characteristics of business cycle fluctuations with a special emphasis on what happened during the financial crisis and different macroeconomic models to study business cycles.

*You may apply to replace the full unit of Microeconomics with a half-unit of Microeconomics and a half-unit of Macroeconomics

Courses to the value of one unit from a range of options
- Elective courses
- Dedicated courses (Finance students only)
- Fixed Income Securities and Credit Markets
- Topics in Portfolio Management
- Financial Engineering
- Risk Management in Financial Markets
- International Finance for MSc Finance and Economics, MSc Finance and MSc Finance & Private Equity
Non-dedicated courses (open to non-Finance students)
- Quantitative Security Analysis
- Applied Corporate Finance
- Entrepreneurial Finance
Entry Requirement
Minimum entry requirements
Undergraduate degree
- Upper second class honours (2:1) degree or international equivalent in a quantitative subject such as economics, maths, physics, engineering, or finance. Your training must include at least a year of calculus and a semester of linear algebra. (See international entry requirements)
- Admission to this programme is very competitive. In previous years, the majority of students accepted into the programme had obtained 1st class honours degrees or the equivalent.
- Even if you meet the minimum entry requirement, this does not guarantee you an offer of admission.
Quantitative skills
- Applicants should have studied at least a year of calculus and a semester of linear algebra.
- Where appropriate, applicants may be offered a fully funded place at the LSE Summer School in order to develop their knowledge of microeconomics and/or econometrics prior to the start of the programme.
GMAT/GRE

GMAT or GRE is required for all applicants without a full three-year UK undergraduate degree. A GRE or GMAT is recommended for applicants with UK undergraduate degrees who did not achieve or are not expected to achieve a first class degree. Test scores must show a strong performance in the quantitative segment. More about GRE/GMAT

Professional experience
Work experience (either through internships or full employment) is not a pre-requisite; however, applicants who have some professional experience should include this in their application.

English language
- You may also have to provide evidence of your English proficiency, although you do not need to provide this at the time of your application to LSE.
- We welcome applications from all prospective students who meet the mininum requirements for this programme. We seek to recruit students with the very best academic merit, potential and motivation, irrespective of their background. We carefully consider each application on an individual basis, taking into account all the information presented on your application form, including your:
Academic achievement

Additional test scores
- Two academic references
- CV
- Academic Statement of Purpose
You should note that there are always many more applications than places available and possession of the minimum entrance requirements does not guarantee that you will be offered admission. It is therefore in your interests to apply as early as possible.
Fees & Scholarships
Tuition fees 2022/23 for MSc Finance and Economics
Home students: £31,584
Overseas students: £32,208
Career Prospect
Graduate destinations
Graduates of the Department have excellent career prospects. Our MSc programmes prepare students for a range of careers in the financial services sector, as can be seen in the Department of Finance Employment Report.

Graduates of the MSc Finance and Economics programme go on to work in challenging jobs in a variety of organisations around the world. Examples of the types of organisations include investment banks, central banks, economic and strategy consulting firms, professional services firms and financial boutiques.

In addition to the internationally recognised research environment and academic rigour of its teaching programmes, a great advantage of studying at LSE is the reputation it holds amongst employers for producing high level graduates.

Selected employers over the past three years
- The Brattle Group
- Bank of America Merrill Lynch
- Nera
- Oxera
- McKinsey & Company
- European Central Bank
- Bank of China
- Bank of England
- China Asset Management Company
- Barclays
- Nomura
Selected employment locations
- London
- Shanghai
- Istanbul
- Sao Paolo
- Paris
- Beijing
PhD study
Each year a number of graduates are accepted into top PhD programmes in the UK, US and Europe. Some students choose to take a pre-doctoral research position after graduation and commence a PhD later. Students considering the PhD route will be able to discuss this with the Associate Programme Director and faculty members.

Selected institutions for PhD study (last 3 years)
- LSE
- Columbia
- Harvard
- Chicago Booth
- Wharton
- Oxford
- Stanford
- Rochester
- Kellogg
- Northwestern
- Imperial
- College
- ESSEC
- McGill
Departmental Careers Support
The Department of Finance offers an in-depth Professional Development Programme for our students to help develop your skills and assist you in your job search. See the Professional Development Programme section on this page.

LSE Careers

LSE Careers has a worldwide reputation. It offers a wide range of resources and events to registered students and alumni. These include:
- Recruitment fairs
- Company presentations
- Interview and application skills sessions
- Tailored careers advice
- CV checking
- Mock interviews
LSE Careers attracts top recruiters in many sectors, who actively target our students. It provides an LSE-exclusive vacancy board full of graduate positions, jobs for experience hires, internships, voluntary and part-time work.

During the Michaelmas Term, there may be a careers presentation or event that you wish to attend every day of the week.

Cost Of Studying At London School of Economics

Interest rates as low as 8.9% ^*

250K+

Students Assisted

800Cr+

Loan Amount Disbursed

5000+

Loans Sanctioned

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MSc Finance and Economics at London School of Economics