EH449 Half Unit
History of Corporate Finance and Institutional Investment
This information is for the 2025/26 session.
Course Convenor
Dr David Chambers
Availability
This course is available on the MSc in Financial History. This course is not available as an outside option to students on other programmes. This course uses controlled access as part of the course selection process.
How to apply: All Economic History courses are controlled access and capped. Priority will be given to students for whom the course is within their programme regulations.
All course choices submitted before the deadline will be considered. It is advisable that students submit a statement in support of their course choices as these will be used to allocate places where a course is oversubscribed.
Deadline for application: First round offers will be sent on Monday 29 September 2025. Students who submit their course choices after the deadline and students wishing to take an Economic History course as an outside option will be waitlisted initially and informed by Wednesday 1 October 2025 whether they have been successful.
Once an offer has been sent, you have 48 hours to accept it before it times out. Once an offer has timed out, it will be re-allocated to someone on the waitlist. In all cases, it is strongly advised that you have an alternative course choice as a back-up in case you are unable to secure your first choice.
For queries contact: If you have any questions, please contact the MSc Programmes Officer (o.harrison1@lse.ac.uk) A list of all taught master's courses in this Department are listed on LSE's course guide webpages. Guidance on how to apply to individual controlled access courses can also be found on LSE for You.
Course content
The course provides students with an understanding of how some of the major features of modern finance emerged from the 19th century onwards with a particular focus on the US and UK. There is a particular focus on the main changes in how firms have used modern capital markets over time and on the historical development of institutional investors.
Teaching
20 hours of seminars in the Winter Term.
Formative assessment
Students will be expected to produce 1 essay in the WT.
Indicative reading
- Campbell, G., R. Grossman and J. Turner (2021), “Before the cult of equity: the British stock market, 1829–1929” European Review of Economic History.
- Jordà, O., K. Knoll, D. Kuvshinov, M. Schularick, and A. Taylor. 2019. The rate of return on everything, 1870–2015. Quarterly Journal of Economics 134:1225–98.
- Chambers, D., and R. Esteves, (2014), “The First Global Emerging Markets Investor: Foreign and Colonial Investment 1880-1913” Explorations in Economic History 2014, 52: 1-21
- Chambers, D. and E. Dimson (2013), “Retrospectives: John Maynard Keynes, Investment Innovator” Journal of Economic Perspectives vol.27 no.3
- Graham J., M. Leary and M. Roberts (2015), “A century of capital structure: The leveraging of corporate America” Journal of Financial Economics
- Chambers, D. and Dimson, E. (2009), “IPO Underpricing Over the Very Long-Run.” Journal of Finance, 64(3): pp. 1407-1443
- Morrison, A. and Wilhelm W. (2007), “Investment Banking: Past, Present and Future.” Journal of Applied Corporate Finance, 19(1): pp. 42-54
Assessment
Exam (100%), duration: 120 Minutes in the Spring exam period
Key facts
Department: Economic History
Course Study Period: Winter Term
Unit value: Half unit
FHEQ Level: Level 7
CEFR Level: Null
Total students 2024/25: 22
Average class size 2024/25: 22
Controlled access 2024/25: NoCourse selection videos
Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.
Personal development skills
- Leadership
- Self-management
- Team working
- Problem solving
- Application of information skills
- Communication
- Application of numeracy skills
- Commercial awareness
- Specialist skills