Overview
Mathematics is essential for an understanding of modern economics. A degree combining these two strongly-related disciplines gives you the opportunity to study both economics and mathematics in depth and to understand the connections between the two subjects. Together with statistics, mathematics is also a vital tool in modelling financial markets and understanding financial data. A degree combining mathematics, statistics and finance enables you to understand the concepts of each discipline and the interactions between them. Our degree programmes are carefully structured so that the mathematical and statistical topics you study are those of greatest relevance to economics and finance. They enable you to acquire the technical aptitude and analytical skills to proceed to a successful career in finance, business and many other fields, or to proceed to further study.
Features of LSE courses
The Department of Mathematics at LSE is internationally renowned for its teaching and research in mathematics related to the social sciences, particularly the mathematics necessary for understanding economics and finance. Our degree programmes, taught jointly with LSE's Departments of Economics, Statistics, and Finance, enable you to build a strong quantitative knowledge base – increasingly important for a successful career in economics and finance. This degree will be of interest if you have a mathematical/scientific background, regardless of whether you have previously studied economics.
The BSc Mathematics and Economics is a joint degree where students study roughly equal amounts of both subjects over their three years. The BSc Mathematics with Economics has mathematics as its major subject and economics as its minor subject, and study of mathematics will make up approximately 75 per cent of the degree. Both degrees have exactly the same first year courses and students may move between these two degrees, should they wish to, in their second year.
The BSc Financial Mathematics and Statistics degree combines the study of both Mathematics and Statistics with Finance. Graduates will be able to combine a good understanding of modern economics and finance with a high degree of mathematical expertise. This combination is an excellent foundation for careers in many walks of life.
Degree structure
The degrees involve studying 12 courses over three years, together with LSE100.
What the selectors are looking for in an application
The selectors for the three degrees are looking for excellent mathematicians and it is a requirement that A level Mathematics (or equivalent) is taken and the maximum grade is achieved. Where it is offered by your school or college, AS or A Level Further Mathematics is expected to be taken.
Applicants are expected to submit an original and interesting personal statement, which outlines their enthusiasm and motivation for the study of mathematics in combination with economics (for the Mathematics and Economics and Mathematics with Economics programmes) or in combination with statistics and finance (for the Financial Mathematics and Statistics programme). In addition to your ability to produce clear and concise text, the selectors want to see evidence of your understanding of the links between the disciplines. Similarly, if you have participated in any relevant activities outside the taught curriculum, such as mathematics competitions or Olympiads you should make reference to it in your personal statement.
The selectors are keen to know why you wish to study one of these programmes, whether there are any aspects of particular interest to you, how this relates to your current academic studies and what additional reading or relevant experiences you have had which have led you to apply.
Personal characteristics and skills that will be useful to students on these programmes are those such as the abilities to apply logic and follow complex lines of mathematical reasoning; to be creative and flexible in approaching problems; to ask questions, to be well organised and to think and work independently. In addition you should possess good communication skills, intellectual curiosity and have the motivation and capacity for hard work.
Please visit lse.ac.uk/ug/apply/mth for further information about admissions criteria.
Teaching and assessment
You will usually attend two lectures and one related class for each course per week (eight lectures and four classes). The first year courses additionally have extra, optional, sessions. In addition you will study and work on exercises in your own time. These are then discussed in the weekly classes of 15 students. You will have an academic adviser who will be available to offer general guidance and advice on your studies, and you will be expected to meet them at least twice a term.
You will have examinations in all courses you have taken at the end of each year (May or early June). Some courses also have elements of assessment in January.
Preliminary reading
For an introduction to mathematics as it is applied in economics and finance, we recommend:
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M Anthony and N Biggs Mathematics for Economics and Finance (Cambridge University Press, 1996)
If you wish to gain further insight into what economists study we suggest that you first look at the following popular book:
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T Harford The Undercover Economist (Oxford University Press, 2007)
Much of university level mathematics is concerned with formal proofs and rigorous mathematical argument, and this is necessary for some of the advanced mathematics required in finance, economics, and other fields of application. For an introduction, we recommend:
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L Alcock How to Study for a Mathematics Degree (Oxford University Press, 2013)
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R Allenby Numbers and Proofs (Butterworth-Heinemann, 1997)
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P Eccles An Introduction to Mathematical Reasoning (Cambridge University Press, 1997)
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T Gowers Mathematics: a very short introduction (Oxford University Press, 2002)
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M Liebeck A Concise Introduction to Pure Mathematics (Chapman & Hall/CRC Mathematics, 2005)
Graduate destinations
Recent graduates have gone on to work in the areas of corporate finance, accountancy, management, and banking. Many have pursued graduate study in areas related to mathematics, economics, or both.