Programmes

MSc Environmental Economics and Climate Change

  • Graduate taught
  • Department of Geography and Environment
  • Application code L7UD
  • Starting 2024
  • Home full-time: Open
  • Home part-time: Open
  • Overseas full-time: Open
  • Location: Houghton Street, London

This programme aims to deliver a well-developed understanding of the economics, science and policies associated with climate change, as well as a broad foundation in environmental and resource economics. It delves into the conceptual economic foundations and the practical tools of analysis, including state-of-the-art quantitative methods.

Environmental economics is playing an increasingly central role in understanding the causes of, and designing policy solutions to, contemporary environmental and resource problems. It has been instrumental in informing policy across the world, for example in the creation of markets to efficiently regulate pollutants such as acid rain and carbon. Environmental and resource economics also informs the design of new instruments for the conservation of ecosystem services and the efficient use of natural resources, such as water and forests, and for the promotion of renewable energy and electric vehicles.

In order to make climate change and environmental and resource issues central to the policy debate, it is also necessary to demonstrate the contribution that the environment makes to human well-being, and the serious economic and health effects of pollution. How these costs and benefits are distributed between current and future generations is another important consideration. Valuation, and the behavioural and ethical issues that this gives rise to, is a major component of environmental and resource economics and another aspect of the MSc.

Across a wide range of issues such as biodiversity loss and fisheries management, sustainable economic development and the formation of international environmental agreements, the theory and applied tools of environmental economics are uniquely placed to inform and guide decision-makers in addressing environmental challenges. Climate change is the most formidable environmental concern facing the planet today and the lessons and tools of environmental economics are highly relevant for thinking about, and providing solutions to, this global economic problem.

The programme will teach you to apply economic concepts and quantitative methods to the analysis, appraisal and valuation of a wide range of environmental problems and policies. You will begin to understand the importance of the political-economic context when applying the concepts and tools of environmental economics, as well as obtaining an in-depth understanding of the scientific, economic and political dimensions of climate change.

Programme details

Key facts

MSc Environmental Economics and Climate Change
Start date 30 September 2024
Application deadline None – rolling admissions. However, please note the funding deadlines
Duration 12 months full-time, 24 months part-time 
Applications 2022 533
Intake 2022 50
Financial support Graduate support scheme and ESRC funding (when you apply as part of a 1+3 research programme) (see 'Fees and funding')
Minimum entry requirement 2:1 degree or equivalent preferably in Economics, other social science backgrounds with a quantitative element will be considered. Will consider appropriate work experience in addition to sound academic background.
GRE/GMAT requirement None
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.

Entry requirements

Minimum entry requirements for MSc Environmental Economics and Climate Change

Upper second class honours (2:1) degree, preferably in Economics (single or joint honours) or related disciplines. We will also consider other social science, humanities and natural sciences degrees with strong grounding in quantitative methods (mathematics and statistics). Appropriate work experience will be considered in addition to sound academic background, and we are always happy to receive enquiries.

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

If you have studied or are studying outside of the UK then have a look at our Information for International Students to find out the entry requirements that apply to you.

 

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)
- statement of academic purpose
- 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.

This programme is available as part of an ESRC-funded pathway onto a PhD programme. The 1+3 scheme provides funding for a one year research training master's linked to a PhD programme and is designed for students who have not already completed an ESRC recognised programme of research training. An application must be submitted for the relevant master’s programme, including a research proposal for the PhD aspect of the pathway. Applicants must also indicate their wish to be considered for the 1+3 pathway within their personal statement.

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.

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 2024/25 for MSc Environmental Economics and Climate Change

Home students: £22,176
Overseas students: £33,792

The Table of Fees shows the latest tuition amounts for all programmes offered by the School.

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 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 about fee status classification.

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.

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 generous scholarships each year to home and overseas students.

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

Selection for any funding opportunity is based on receipt of an offer for a place and submitting a Graduate Financial Support application, before the funding deadline. Funding deadline for needs-based awards from LSE: 25 April 2024

This programme is also eligible for  Economic and Social Research Council (ESRC) funding when you apply as part of a 1+3 research programme. Selection for the ESRC funding is based on receipt of an application for a place – including all ancillary documents, before the funding deadline.

Funding deadline for the ESRC funding: 15 January 2024

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. Find out more about financial support.

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

Further information

Fees and funding opportunities

Information for international students

LSE is an international community, with over 140 nationalities represented amongst its student body. We celebrate this diversity through everything we do.  

If you are applying to LSE from outside of the UK then take a look at our Information for International students

1) Take a note of the UK qualifications we require for your programme of interest (found in the ‘Entry requirements’ section of this page). 

2) Go to the International Students section of our website. 

3) Select your country. 

4) Select ‘Graduate entry requirements’ and scroll until you arrive at the information about your local/national qualification. Compare the stated UK entry requirements listed on this page with the local/national entry requirement listed on your country specific page.

Part-time study

Part time study is only available for students who do not require a student visa.

Programme structure and courses

You will take four compulsory courses (with a value of three units) and two optional courses to the value of one unit.

If you are planning to apply for a PhD within the Department, please be advised that you need to take some methods training as part of the MSc. Contact your MSc programme director and the Director of Graduate studies to discuss this requirement.

(* denotes a half unit)

Environmental and Resource Economics
Examines the foundations of environmental and resource economics, the economics of pollution control, the economics of renewable and non-renewable resources and the study of international environmental problems and agreements.

Applied Quantitative Methods*
Provides an introduction to quantitative methods in use in modern environmental and resource economics.

Climate Change: Science, Economics and Policy*
Provides an interdisciplinary analysis of the issue of climate change.

Dissertation
An independent research project of 10,000 words on an approved topic of your choice.

Courses to the value of one unit from a range of options


For the most up-to-date list of optional courses please visit the relevant School Calendar page.  

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 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.

Teaching itself will be conducted mainly through lectures and graduate-level seminars. 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.

The programme is taught and run by one of the largest international groupings of environmental economists in any academic institution. Teaching staff are based within the LSE's Department of Geography and Environment as well as the Grantham Research Institute on Climate Change and the Environment. 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 will be a combination of unseen examinations and research essays. You will also have the opportunity to develop a dissertation on a topic within the fields of environmental, resource or climate change economics. This will allow you to pursue a research question of interest to you in depth, using the analytical tools and techniques covered in the course. You will work on your own on the dissertation, with advice from a supervisor. 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 mentor 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.

Student support and resources

We’re here to help and support you throughout your time at LSE, whether you need help with your academic studies, support with your welfare and wellbeing or simply to develop on a personal and professional level.

Whatever your query, big or small, there are a range of people you can speak to who will be happy to help.  

Department librarians – they will be able to help you navigate the library and maximise its resources during your studies. 

Accommodation service – they can offer advice on living in halls and offer guidance on private accommodation related queries.

Class teachers and seminar leaders – they will be able to assist with queries relating to specific courses. 

Disability and Wellbeing Service – they are experts in long-term health conditions, sensory impairments, mental health and specific learning difficulties. They offer confidential and free services such as student counselling, a peer support scheme and arranging exam adjustments. They run groups and workshops. 

IT help – support is available 24 hours a day to assist with all your technology queries.  

LSE Faith Centre – this is home to LSE's diverse religious activities and transformational interfaith leadership programmes, as well as a space for worship, prayer and quiet reflection. It includes Islamic prayer rooms and a main space for worship. It is also a space for wellbeing classes on campus and is open to all students and staff from all faiths and none.  

Language Centre – the Centre specialises in offering language courses targeted to the needs of students and practitioners in the social sciences. We offer pre-course English for Academic Purposes programmes; English language support during your studies; modern language courses in nine languages; proofreading, translation and document authentication; and language learning community activities.

LSE Careers ­– with the help of LSE Careers, you can make the most of the opportunities that London has to offer. Whatever your career plans, LSE Careers will work with you, connecting you to opportunities and experiences from internships and volunteering to networking events and employer and alumni insights. 

LSE Library  founded in 1896, the British Library of Political and Economic Science is the major international library of the social sciences. It stays open late, has lots of excellent resources and is a great place to study. As an LSE student, you’ll have access to a number of other academic libraries in Greater London and nationwide. 

LSE LIFE – this is where you should go to develop skills you’ll use as a student and beyond. The centre runs talks and workshops on skills you’ll find useful in the classroom; offers one-to-one sessions with study advisers who can help you with reading, making notes, writing, research and exam revision; and provides drop-in sessions for academic and personal support. (See ‘Teaching and assessment’). 

LSE Students’ Union (LSESU) – they offer academic, personal and financial advice and funding. 

PhD Academy – this is available for PhD students, wherever they are, to take part in interdisciplinary events and other professional development activities and access all the services related to their registration. 

Sardinia House Dental Practice – this offers discounted private dental services to LSE students. 

St Philips Medical Centre – based in Pethwick-Lawrence House, the Centre provides NHS Primary Care services to registered patients.

Student Services Centre – our staff here can answer general queries and can point you in the direction of other LSE services.  

Student advisers – we have a Deputy Head of Student Services (Advice and Policy) and an Adviser to Women Students who can help with academic and pastoral matters.

Student life

As a student at LSE you’ll be based at our central London campus. Find out what our campus and London have to offer you on academic, social and career perspective. 

Student societies and activities

Your time at LSE is not just about studying, there are plenty of ways to get involved in extracurricular activities. From joining one of over 200 societies, or starting your own society, to volunteering for a local charity, or attending a public lecture by a world-leading figure, there is a lot to choose from. 

The campus 

LSE is based on one campus in the centre of London. Despite the busy feel of the surrounding area, many of the streets around campus are pedestrianised, meaning the campus feels like a real community. 

Life in London 

London is an exciting, vibrant and colourful city. It's also an academic city, with more than 400,000 university students. Whatever your interests or appetite you will find something to suit your palate and pocket in this truly international capital. Make the most of career opportunities and social activities, theatre, museums, music and more. 

Want to find out more? Read why we think London is a fantastic student city, find out about key sights, places and experiences for new Londoners. Don't fear, London doesn't have to be super expensive: hear about London on a budget

Student stories

Jacob Wellman

MSc Environmental Economics and Climate Change
Albuquerque, USA

Jacob_Wellman_170x230

A specific focus on applied economics - particularly in regards to climate change and the environment - drew me to LSE. The deep expertise of the teaching staff helped convince me it was the right place to study environmental economics. My course allows me to apply a rigorous economic skill set to interesting policy questions of the day.

Access to the world’s experts in climate economics allows me to get a really clear picture of what the big issues are in the field I am studying. I plan to continue my studies after graduation specifically looking at the impact of renewable energy policies on the electricity market in US states.

Preliminary reading

G Heal A celebration of environmental and resource economics. Rev Environ Econ Policy (Oxford Journals, 2007)

R Perman et al Natural resource and environmental economics, Chapters 1-3 ( Fourth Edition, Pearson 2011)

Careers

Quick Careers Facts for the Department of Geography & Environment

Median salary of our PG students 15 months after graduating: £35,000          

Top 5 sectors our students work in:

  • Government, Public Sector and Policy   
  • Financial and Professional Services              
  • Education, Teaching and Research            
  • Real Estate, Environment and Energy 
  • Other Professional, Scientific and Technical Activities

The data was collected as part of the Graduate Outcomes survey, which is administered by the Higher Education Statistics Agency (HESA). Graduates from 2020-21 were the fourth group to be asked to respond to Graduate Outcomes. Median salaries are calculated for respondents who are paid in UK pounds sterling and who were working in full-time employment.

Economics is frequently at the centre of environmental policy-making. The MSc in Environmental Economics and Climate Change provides state-of-the-art training in environmental, natural resource and climate change economics. You will develop analytical tools applicable to the full range of environmental issues in the public, private, and other sectors. There are promising career opportunities for those who have trained as professional environmental economists: in government, international organisations, industry, NGOs, consultancy and research.

The MSc Environmental Economics and Climate Change will be invaluable if you wish to work, or are already working, in a specialised area relating to climate change economics but also more broadly to any aspect of environmental and resource economics.

Further information on graduate destinations for this programme

Support for your career

Many leading organisations 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.

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