Programmes

LSE-Fudan Double Master's in Financial Statistics and Chinese Economy

  • Graduate taught
  • Department of Statistics
  • Application code G3U4
  • Starting 2021
  • UK/EU full-time: Open
  • Overseas full-time: Open
  • Location: Houghton Street, London, Shanghai

The unique two-year double master's degree in financial statistics (LSE) and Chinese economy (Fudan) enables students to study for one year at LSE in London - one of the global financial centres, and one year at Fudan University in Shanghai - one of the most vibrant hubs for economic and financial innovation and development in China and Asia.

The first year, which will be spent at LSE, will equip students with the cutting-edge statistical methods and data analytical skills for finance. It will give students a solid quantitative background for careers in the financial industry. The second year of the programme, at Fudan University, will equip students with the main tools of professional economists, and will apply the quantitative tools learned in the first year to solve practical problems for government, central banking, international organisations or private sector firms. There will be a strong focus on China and the Chinese Economy. 

The combined expertise in statistics and economics, the capability of understanding the fundamental principles as well as that of empirical analysis and extracting information from data, and the first hand experiences in both London and Shanghai will make graduates from this programme highly competitive for jobs in Europe, Asia and beyond.

Once you successfully complete your studies at both institutions, you will be conferred Master of Economics in Finance and MSc Statistics (Financial Statistics) by Fudan and LSE respectively.

Teaching and learning in 2021
We hope that programmes beginning in September 2021 will be unaffected by Coronavirus. If there are going to be any changes to the delivery of the programme we will update this page to reflect the amendments and all offer holders will be notified. For more information about LSE's teaching plans for 2020 please visit: https://www.lse.ac.uk/study-at-lse/Graduate/Prospective-students/Teaching-Methods and to view our Coronavirus FAQ's for prospective students please see: https://www.lse.ac.uk/study-at-lse/meet-visit-and-discover-LSE/COVID-19/Coronavirus-FAQs-for-prospective-applicants

Programme details

Key facts

 
Start date  27 September 2021
Application deadline None – rolling admissions. However please note the funding deadlines.
NB: all applicants from the Chinese mainland, Hong Kong, Taiwan, and Macau must contact Fudan University (see 'Assessing your application') before starting an application to assess their eligibility for the programme. 
Duration 21 months total: nine months at LSE in year one; 12 months at Fudan in year two
Applications 2019 45
Intake 2019 7
Tuition fee

Year one Home: £30,360 (2021 entry, at LSE)

Year one Overseas: £30,960 (2021 entry, at LSE)

Overseas students (i.e. non-Chinese nationals), second year TBC (in 2020/21 at Fudan): RMB 80000

Chinese nationals, second year: fee set by Chinese Ministry of Education (Contact Fudan for further details).

Financial support Graduate Support Scheme (for year one at LSE), deadline 29 April 2021
Minimum entry requirement 2:1 degree or equivalent, with a substantial amount of mathematics and a significant amount of statistics. Well-qualified applicants who do not meet this requirement will be considered on merit. Background in economics is preferable but not essential. Those without economics background will be required to take on the relevant foundation course(s) in Year 2 at Fudan. 
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 LSE-Fudan Double Master's in Financial Statistics and Chinese Economy

Note to all students from the Chinese mainland, Taiwan, Hong Kong and Macau: currently, only Fudan recommended students (复旦推免生) are eligible to apply.

Upper second class honours (2:1) degree or equivalent, with a substantial amount of mathematics and a significant amount of statistics. Well-qualified applicants who do not meet this requirement will be considered on merit. Background in economics is preferable but not essential. Those without economics background will be required to take on the relevant foundation course(s) in Year 2 at Fudan. 

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.

Applications will be considered by a joint admissions board of representatives consisting of both LSE and Fudan. 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.

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. 

Applicants from mainland PRC

Applicants from mainland China, Hong Kong, Taiwan, and Macau

University students who from mainland China, Hong Kong, Taiwan, and Macau including students who are already enrolled in undergraduate programmes in Fudan University and other prestigious mainland Chinese universities, are eligible to apply to this programme through the recommendation (推荐) system, which enables qualified undergraduate students to participate in graduate programmes without taking the National Postgraduate Entrance Examination.

Interested applicants should first apply in September, to Fudan University. Applicants are required to have, or expect to have, a minimum GPA 3.5 (or equivalent) from their previous study, as well as meeting the necessary language entry requirements.
Students from the Chinese mainland, Taiwan, Hong Kong and Macau should contact Fudan School of Economics to assess their eligibility for the programme, before submitting an application. Please contact Ruixie Chen, Phone: +86 (0) 2155664890, email: econema@fudan.edu.cn.

Academic statement of purpose requirements

Your academic statement of purpose should state why you want to do the programme applied for and why you have chosen LSE. Brief details of your academic background and aspirations are also useful. If your background is outside of mathematics or statistics then you should provide further explanation of how your experience is relevant to the programme applied for; as well as further details of your current studies.

Your academic statement of purpose should be concise and should not exceed 500 words.

If you are applying for more than one choice in the Department of Statistics, it is recommended that you submit two separate academic statements of purpose. If the two programmes for which you are applying are very similar and you would prefer to combine the information in one statement then you may do so; however, please ensure that your statement clearly addresses your motivations for applying for each separate programme.

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 2021/2022 for LSE-Fudan Double Master's in Financial Statistics and Chinese Economy

Home students, first year: £30,360 (2021/22 at LSE)
Overseas students, first year: £30,960 (2021/22 at LSE)
Overseas students (i.e. non-Chinese nationals), second year TBC (in 2020/21 fee at Fudan): RMB 80000
Chinese nationals, second year: fee set by Chinese Ministry of Education (Contact Fudan for further details).

Please note that all non-Chinese students are also expected to pay an application fee of approximately RMB 800 in the second year of the programme.

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 graduate students from the UK, EU and overseas.

Funding for the first year, at LSE

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: 29 April 2021.

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.

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

Important information for prospective applicants from mainland China, Hong Kong, Taiwan and Macau

Please note that to be eligible to apply for the programme, applicants from mainland China, Hong Kong, Taiwan and Macau must have completed their undergraduate degree at Fudan or another prestigious Chinese university through the ‘Recommended System’ or ‘National Entrance Examination.’ For more information, please refer to the ‘Assessing your Application’ section.

There are a varied selection of MSc programmes in the Department of Statistics at LSE, details of which can be found using our programme finder. These include MSc in Statistics (Financial Statistics)and MSc in Statistics (Financial Statistics) (Research).

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 

Programme structure and courses

First year, at LSE

The first year is spent at LSE. You will take three compulsory statistics courses. You will also choose courses to the value of two units, from a range of options both within statistics and related areas, with a maximum of one unit's worth of options from outside the Statistics department.

(* denotes a half unit)

Statistical Inference: Principles, Methods and Computation 
Provides comprehensive coverage of some fundamental aspects of probability and statistical methods and principles.

Time Series*
A broad introduction to statistical time series analysis for postgraduates: what time series analysis can be useful for; autocorrelation; stationarity; causality;  basic time series models: AR, MA, ARMA; ARCH and GARCH models for financial time series; trend removal and seasonal adjustment; invertibility; spectral analysis; estimation; forecasting.

Financial Statistics*
Covers key statistical methods and data analytic techniques most relevant to finance. 

Courses to the value of two units from a range of options

Second year, at Fudan

Upon successful completion of the first year, you will move to study the second year at the School of Economics at Fudan University. If you don't have an economics background, you will take additional economics courses. 

Category

Title

Credits

Compulsory courses

Microeconomics (Fall/Autumn)^
Econometrics (Fall/Autumn)^
China's Financial System (Spring)^
Macroeconomics (Spring)
Chinese Language

3
3
3
3
TBC

Optional courses
fall/autumn

Social Security System and Its Reform in China
Chinese Economy
Chinese Foreign Trade
China's Taxation System and Fiscal Policy
Doing Business in China
China and Globalization
Foreign Direct Investment in Transition Economy
Advanced Topics on Chinese Economy
Asset Pricing
Industrial Policy of China
International Finance
Quantitative Analysis of Financial Time Series
Urbanization in China
Basic Chinese I

2
3
2
3
3
3
2
2
3
2
3
3
3
2

Optional courses
spring

Monographic Study on Chinese Finance
Environmental and Energy Economics: Approaches and Applications in China
Applied Econometrics
China's Reform and Opening-up
World Economy and China
Industrial Organization
Development Economics
International Trade
Economics Growth and Innovation
Dissertation Writing in Economics
Basic Chinese II
Corporate Finance

3
2

2
2
2
3
3
3
3
3
2
3

^ If students have not completed courses on Macroeconomics; Econometrics or Microeconomics in previous study they will be required to take these courses at Fudan during year two. If students have taken these aforementioned courses before, they then chose other courses during year 2 at Fudan.

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 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.

Further details on year two

You can find more information about accommodation in Fudan on their website.

You can also find more information about scholarships here.  

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  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. Most courses are summatively assessed by a two-hour exam in the summer term, although some contain an element of course work. 

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 and who will be happy to help.  

Academic mentors – an academic member of staff who meets with you during the course of the year to discuss your academic progress and who can help with any academic, administrative or personal questions you have. (See Teaching and assessment)

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 a specific course you are taking. 

Disability and Wellbeing Service – the staff 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, arranging exam adjustments and run groups and workshops. 

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

LSE Faith Centre – 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 9 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 future 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 it’s 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, offer one-to-one sessions with study advisers who can help you with reading, making notes, writing, research and exam revision, and provide 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 - 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 - 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 advocates and advisers– we have a School Senior Advocate for Students 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

Preliminary reading

R J Larsen and M L Marx Introduction to Mathematical Statistics and Its Applications (5th edition, Pearson 2012)

W N Venables, D M Smith, and the R Core Team  An Introduction to R. Notes on R: A Programming Environment for Data Analysis and Graphics (2016)

Careers

Students on this programme have excellent career prospects and a global appeal, with combined expertise in economics and financial statistics. Students will be well prepared for working in banks and hedge funds, as well as companies and firms with businesses across Europe and Asia.

Further information on graduate destinations

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.

Accreditation

Graduates of the programme are awarded Graduate Statistician (GradStat) status by the Royal Statistical Society if a specific combination of modules is taken.

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