Programmes

MSc Finance and Economics

  • Graduate taught
  • Department of Finance
  • Application code LN43
  • Starting 2018

The MSc Finance and Economics draws on the School's strengths in economics, finance and econometrics to impart a rigorous and deep understanding of financial markets, grounded in financial economics and econometric methods. 

It is an interdisciplinary degree taught jointly by the Department of Finance and the Department of Economics, allowing you the opportunity to study in two of the most highly rated departments in their subject areas in the world. The programme draws on the School's strengths in economics, finance and econometrics to impart a rigorous and deep understanding of financial markets, grounded in financial economics and econometric methods. 

What makes this programme unique is that you are taught not only how to apply and use various well-known models, but also to understand the technical foundations underpinning these models, enabling with the highly marketable ability to alter, amend, empirically test and adapt the models to new market environments. The programme offers exceptional graduates from quantitative disciplines the opportunity to develop their understanding of financial economics, financial econometrics, microeconomics and macroeconomics to a very high level, and to further specialise in two areas of finance. The tools, techniques and deep understanding that you take from the courses are directly applicable to a wide range of real-world financial and other situations.

The research and teaching which informs the intellectual core of the programme enables you to examine financial markets through in-depth analysis based on financial and economic theory and statistical methods. You will learn about investments, asset pricing, derivatives and financial engineering through the coherent lens of financial economics. Through an extensive range of optional courses, students can gain exposure to corporate and international finance, portfolio and risk management, as well as specialised modelling skills including programming in MATLAB.

Programme details

Key facts

MSc Finance and Economics
Start date Pre-sessional course begins late August 2018
Application deadline None – rolling admissions. However please note the funding deadlines
Duration 10 months full-time only (see Bologna process)
Applications 2016 840 (includes MSc Finance and Economics (Research))
Intake 2016 60 (includes MSc Finance and Economics (Research))
Availability UK/EU: Open 
Overseas: Open 
Tuition fee UK/EU: £26,976
Overseas £27,504
Financial support Graduate support scheme (deadline 26 April 2018), Sudipto Bhattacharya Scholarships and the MSc Finance and Economics Conversion Scholarship for Engineering, Mathematics and Sciences
Minimum entry requirement 2:1 degree or equivalent in a quantitative subject, with at least a year of calculus and semester of linear algebra
GRE/GMAT requirement GMAT or GRE is required for all applicants without a UK undergraduate degree and it is recommended for applicants with UK undergraduate degrees who did not achieve or are not expected to achieve a first class degree
English language requirements Standard (see 'assessing your application')
Location  Houghton Street, London

For more information about tuition fees and entry requirements, see the fees and funding and assessing your application sections.

Programme structure and courses

The programme is structured around three full unit compulsory courses, in financial economics, financial econometrics and microeconomics (although you can choose to study macroeconomics rather than microeconomics in the second term).

In addition you will be expected to select a combination of two half unit (each running over one term) optional finance courses offered by the Department, to investigate specialist finance topics, writing your dissertation in one of the two optional courses.

You will register in late August and undergo a tailored, mandatory pre-sessional programme incorporating careers skills development, networking and social events including with alumni, and the City Speaker Series where you can attend exclusive and interactive talks from leading finance professionals.

You will also attend the Introductory Course in Mathematics and Statistics (before the main teaching programme starts) in late August 2017. The course includes treatment of dynamic programming, continuous time dynamic optimisation, quadratic forms, Kuhn-Tucker theorem, and marginal and conditional probability distributions, amongst other topics.

In addition, you will undertake a mandatory course in probability and stochastic calculus to complement the material taught in Financial Economics.

Please note: 10-month master's programmes are not compliant with the Bologna process, which may affect the extent to which they are 'recognised'. For more information, see Bologna process

(* denotes a half unit)

Either
Microeconomics

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.

Financial Economics
Examines investors' behaviour, market equilibrium and asset pricing.

Financial Econometrics
Looks at the techniques of empirical investigation in economics and finance.

Optional courses to the value of one unit

You can find the most up-to-date list of optional courses in the Programme Regulations section of the current School Calendar. 

You must note however that while care has been taken to ensure that this information is up to date and correct, a change of circumstances since publication may cause the School to change, suspend or withdraw a course or programme of study, or change the fees that apply to it. The School will always notify the affected parties as early as practicably possible and propose any viable and relevant alternative options. Note that that the School will neither be liable for information that after publication becomes inaccurate or irrelevant, nor for changing, suspending or withdrawing a course or programme of study due to events outside of its control, which includes but is not limited to a lack of demand for a course or programme of study, industrial action, fire, flood or other environmental or physical damage to premises.

You must also note that places are limited on some courses and/or subject to specific entry requirements. The School cannot therefore guarantee you a place. Please note that changes to programmes and courses can sometimes occur after you have accepted your offer of a place. These changes are normally made in light of developments in the discipline or path-breaking research, or on the basis of student feedback. Changes can take the form of altered course content, teaching formats or assessment modes. Any such changes are intended to enhance the student learning experience. You should visit the School’s Calendar, or contact the relevant academic department, for information on the availability and/or content of courses and programmes of study. Certain substantive changes will be listed on the updated graduate course and programme information page.

Teaching and assessment

Contact hours and independent study

Within your programme you will take a number of courses, often including half unit courses and full unit courses. In half unit courses, on average, you can expect 20-30 contact hours in total and for full unit courses, on average, you can expect 40-60 contact hours in total. This includes sessions such as lectures, classes, seminars or workshops. Hours vary according to courses and you can view indicative details in the Calendar  within the Teaching section of each course guide.

You are also expected to complete independent study outside of class time. This varies depending on the programme, but requires you to manage the majority of your study time yourself, by engaging in activities such as reading, note-taking, thinking and research.

Teaching methods

LSE is internationally recognised for its teaching and research and therefore employs a rich variety of teaching staff with a range of experience and status. Courses may be taught by individual members of faculty, such as lecturers, senior lecturers, readers, associate professors and professors. Many departments now also employ guest teachers and visiting members of staff, LSE teaching fellows and graduate teaching assistants who are usually doctoral research students and in the majority of cases, teach on undergraduate courses only. You can view indicative details for the teacher responsible for each course in the relevant course guide.

Assessment

All taught courses are required to include formative coursework which is unassessed. It is designed to help prepare you for summative assessment which counts towards the course mark and to the degree award. LSE uses a range of formative assessment, such as essays, problem sets, case studies, reports, quizzes, mock exams and many others. Summative assessment may be conducted during the course or by final examination at the end of the course. An indication of the formative coursework and summative assessment for each course can be found in the relevant course guide.

Academic support

You will also be assigned an academic adviser who will be available for guidance and advice on academic or personal concerns.

There are many opportunities to extend your learning outside the classroom and complement your academic studies at LSE. LSE LIFE is the School’s centre for academic, personal and professional development. Some of the services on offer include: guidance and hands-on practice of the key skills you will need to do well at LSE: effective reading, academic writing and critical thinking; workshops related to how to adapt to new or difficult situations, including development of skills for leadership, study/work/life balance and preparing for the world of work; and advice and practice on working in study groups and on cross-cultural communication and teamwork. 

LSE is committed to enabling all students to achieve their full potential and the School’s Disability and Wellbeing Service provides a free, confidential service to all LSE students and is a first point of contact for all disabled students.

 

Careers

The MSc Finance and Economics is an ideal preparation for a variety of careers in the global financial services sector, with the emphasis on financial economics being particularly attractive to investment banks, the financial services sector more generally and consulting firms. The programme also provides a rigorous training and preparation for doctoral research in the area.

Further information on graduate destinations for this programme

Josie Athie

MSc Finance and Economics, 2013
Senior Reinsurance Product Developer, Swiss Re

JoseAthie170x230

When I was choosing a graduate programme, I had the dilemma of whether or not to leave my previous job. LSE was the only school that was worth taking a year off for from my point of view. I chose the MSc in Finance and Economics because it had the balance I was looking for between academic rigour and practical applications.

Before going to LSE I was a junior reinsurance underwriter at Swiss Re. After spending one year at LSE, I received a promotion to Vice President and Senior Underwriter. After just 3 years of coming back I have received several promotions and salary raises, and now I am responsible for all the product development in Latin America. LSE definitely helped me to boost my career. 

Support for your career

Many leading organisations in the field give careers presentations at the School during the year, and LSE Careers has a wide range of resources available to assist students in their job search. Find out more about the support available to students through LSE Careers.

Student stories

Azeem Ahmed

MSc Finance and Economics
Analyst, Mergers and Acquisitions Advisory, Lazard

azeemAhmed.170x230jpg

One of the key strengths of this master's programme is its intensity. It ensures that students can prepare for challenging careers in a wide variety of fields, whilst also allowing each student to gain considerable knowledge within a short space of time. Having studied here before, I knew what an LSE course is all about: difficult courses and talented students and teachers. Through attending events by the LSE Business Society, and meeting with the Careers Service, I was able to improve my interviewing skills and learn about my career options in much greater detail.

Assessing your application

We welcome applications from all suitably qualified prospective students and want 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 (including predicted and achieved grades)
- personal statement
- two academic references
- CV

See further information on supporting documents

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. See our English language requirements.

When to apply

Applications for this programme are considered on a rolling basis, meaning the programme will close once it becomes full. There is no fixed deadline by which you need to apply, however to be considered for any LSE funding opportunity, you must have submitted your application and all supporting documents by the funding deadline. See the fees and funding section for more details. 

Minimum entry requirements for MSc Finance and Economics

Upper second class honours degree (2:1) or equivalent in a quantitative subject such as economics, maths, physics, engineering, finance or business. Your training must include 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.

Competition for places at the School is high. This means that even if you meet the minimum entry requirement, this does not guarantee you an offer of admission.

See international entry requirements

GRE/GMAT requirement

GMAT or GRE is required for all applicants without a UK undergraduate degree and it 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 (above the 85th percentile).

Find out more about GRE/GMAT 

Fees and funding

Every graduate student is charged a fee for their programme.

The fee covers registration and examination fees payable to the School, lectures, classes and individual supervision, lectures given at other colleges under intercollegiate arrangements and, under current arrangements, membership of the Students' Union. It does not cover living costs or travel or fieldwork.

Tuition fees 2018/19 for MSc Finance and Economics

UK/EU students: £26,976
Overseas students: £27,504

Fee status

The amount of tuition fees you will need to pay, and any financial support you are eligible for, will depend on whether you are classified as a home (UK/EU) or overseas student, otherwise known as your fee status. LSE assesses your fee status based on guidelines provided by the Department of Education.

Further information

Fees and funding opportunities

Fee reduction

Students who completed undergraduate study at LSE and are beginning taught graduate study at the School are eligible for a fee reduction of around 10 per cent of the fee.

Please refer to the Fees Office website for further information.

Scholarships and other funding

The School recognises that the cost of living in London may be higher than in your home town or country, and we provide over £11.5 million in scholarships each year to graduate students from the UK, EU and overseas.

This programme is eligible for needs-based awards from LSE, including the Graduate Support SchemeMaster's Awards, and Anniversary Scholarships

Students on this programme are also eligible for the Sudipto Bhattacharya Scholarships and the MSc Finance and Economics Conversion Scholarship for Engineering, Mathematics and Sciences.

Selection for any funding opportunity is based on receipt of an application for a place – including all ancillary documents, before the funding deadline.

Funding deadline for needs-based awards from LSE: 26 April 2018.

In addition to our needs-based awards, LSE also makes available scholarships for students from specific regions of the world and awards for students studying specific subject areas. 

Check the latest information about scholarship opportunities

Government tuition fee loans and external funding

A postgraduate loan is available from the UK government for eligible students studying for a first master’s programme, to help with fees and living costs. Some other governments and organisations also offer tuition fee loan schemes.

Find out more about tuition fee loans
Find out more about external funding opportunities

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