Programme Specification: MRes/PhD Economics
1. Awarding Body
2. Details of accreditation by a
professional/statutory body, e.g. ESRC;
BPS etc
3. Name of final award(s)
4. Programme Title
5. Duration of the course
6. Based in the Department/Institute:
7. Relevant QAA subject benchmark
statements
8. Application Code
9. First written/last amended
LSE
The programme is recognised by the ESRC
for 2+2 and +3 research training.
MRes and PhD
MRes/PhD in Economics
Track 1: 4 years
Track 2: 3 years
Economics
N/A
L1U4 (Track 1)
L1U5 (Track 2 )
November 2010 / November 2012
10. The programme aims to:
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give students proficiency in the mode of discourse and skills of research-level
microeconomics, macroeconomics and econometrics;
give students the ability to apply that knowledge to new problems and contexts;
provide knowledge and understanding of two chosen fields of economics, at an
advanced level, thus developing in students a capacity for original research in that
field;
expose students to recent developments and give an insight into the process by
which research is conducted, thus suggesting fruitful areas for research;
prepare students for careers in research and academia.
11. Programme outcomes: knowledge and understanding; skills and other attributes
At the end of the programme, students will be able to demonstrate the following:
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knowledge and understanding of advanced economic analysis and the ability to
analyse new economic facts and models;
an advanced understanding of specialist subjects, including a command of literature in
these fields;
proficiency in the application of techniques to research;
the ability to produce a PhD thesis, as defined by London School of Economics
regulations;
proficiency in the following transferable skills:
a. skills in IT for general and academic purposes;
b. use of econometric and statistical software;
c. library and Internet research skills;
d. research-report writing, through writing of thesis and research publications;
e. oral presentation and commentary, through participation in seminars and
workshops (the student’s own work of their own and/or that of other contributors in
the field);
f. teaching experience gained within the Department.
Information relating to careers.
12. Teaching, learning and assessment strategies to enable outcomes to be achieved
and demonstrated
The programme is offered in twin-track format and is divided into two parts: (A) Taught
courses examined by unseen written examination, leading to an MRes in Economics and (B)
Research and writing of a doctoral thesis.
Track 1 is aimed at students graduating with a first class undergraduate degree in economics.
Track 2 is for students who have completed a graduate degree in economics and
demonstrated exceptional performance.
Track 1:
The Programme begins in September with an Introductory Course to ensure that students
have the essential background for the first year of teaching. In year 1, students are required to
take MRes-level core courses in microeconomics, macroeconomics and econometrics.
In year 2, students take a field course and write a research paper of 5-10,000 words related to
their designated major field. A second field course may be taken if the student has obtained
progression marks on all of the core courses but, otherwise, this is taken in year 3. From year
2 onwards, students are also required to attend the weekly Departmental seminar series
closest to their major field and the relevant EC501 Work in Progress Seminar.
Track 2:
In year 1, students are required to take MRes-level core courses in microeconomics,
macroeconomics and econometrics, and write a research paper of 5-10,000 words. Students
are also required to attend the weekly Departmental seminar series closest to their major field
and the relevant EC501 Work in Progress Seminar.
In year 2, students take a field course and continue to attend Work in Progress and
Departmental seminars, where they present their research.
Post-MRes, students registered for the PhD are expected to work on their research and PhD
thesis. They continue to attend Work in Progress and Departmental seminars.
Teaching and Learning Strategies
1.1 Design
The programme comprises compulsory MRes/PhD-level core courses in microeconomics,
macroeconomics and econometrics.
There is a choice of ten MRes/PhD-level field options.
The EC599 Research Paper in Economics (5-10,000 words) is a compulsory element
Track 1 students are required to attend the introductory September course EC400, to ensure
they have the necessary background in maths for micro and macroeconomics, probability and
statistics before the start of formal teaching. Track 2 students must also attend if they have
not done so previously as part of their MSc.
1.2 Modes of Delivery
The Department believes that a command of economic analysis is best achieved through
repeated application of the key principles in a range of contexts. Formal lectures develop and
illustrate the key concepts; these are coupled with small-group classes to reinforce
understanding, enable effective interaction with students, and provide regular formative
assessment.
The core courses involve 60 hours of lectures and 30 hours of accompanying classes. The
field courses generally consist of 60 hours of lectures but, as these groups are very small, the
teacher may vary the delivery to suit the material and the students.
1.3 Staff Expertise
The Department’s considerable strength in research and experience in policy work are
deployed to good advantage in the graduate programme, giving it a distinctive flavour.
Lectures are taught exclusively by LSE or visiting faculty. Classes are taught either by faculty
or by LSE Fellows drawn from the ranks of the Department’s senior research students. LSE
Fellows will have had several years of teaching experience at the undergraduate level.
1.4 The role of classes
The primary purpose of classes is to deepen and broaden student understanding of core
material taught in lectures, to enable application of principles as appropriate and to enable
students to learn in an interactive environment. For class teaching to be effective, class sizes
are restricted to 15 students.
The nature of the subject matter and the level of the module for which it is provided largely
dictate the format of classes. Classes in core modules are normally devoted to discussing
exercises assigned by the lecturer, which students have attempted before class. The
interactive nature of class teaching permits a number of distinct functions:
a. Formative assessment and feedback on exercises and class work marked by the
teacher;
b. Independent learning, by the advance completion of assigned exercises and class
work;
c. The development of oral communication skills. Class teachers are expected to
promote the active engagement of all students, by discussion of exercises.
1.5 Support
The Departmental MRes Tutor is available to advise students on course choice and other
programme-related issues. He/she also acts as personal tutor to the first year Track 1
students.
Information on study skills, IT training, library resources and language support is given to
students during induction and is available on the LSE website. The Department is
represented on the Library and Information Services Committee.
Comprehensive lecture notes, problem sets, solutions and readings are provided via Moodle.
A comprehensive course pack of articles and other readings is provided for each of the core
courses. Material for the field options is provided via the Department’s website.
Once students embark on their research paper they are allocated a supervisor from their
chosen field. This supervisor may continue as the student’s thesis supervisor, or may change
as the student’s interests develop. The PhD Programme Director is available to students who
may wish to raise matters within his remit:
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ensuring the induction of new research students;
allocation, change and training of supervisors ;
ensuring that progress monitoring procedures for all research students are properly
carried out;
monitoring submission rates in the department;
developing appropriate research training;
acting as an advocate for research students in the department.
Students attend the Methodology Institute course ‘Authoring a PhD and Developing as a
Researcher’, and are strongly encouraged to take advantage of other PhD-level training
provided by the Institute.
Students gain exposure to current developments in their field by attending Departmental
seminars. Students present their work to each other and to faculty members at the PhD Work
in Progress seminar series.
Assessment Strategies
1.1 Formative Assessment and Feedback
Initial formative assessment takes place at the end of September when students on the
introductory course take tests in maths for micro and macroeconomics, probability and
statistics. This identifies those in need of additional support.
During the coursework years, formative assessment and feedback take place primarily
through the class setting. Feedback is given through discussion of exercises completed by
the students in advance of the class and by take-home assignments. On the core courses,
there are mock exams at the beginning of the lent and summer terms. Formative assessment
on the field courses is tailored to the level and content of particular modules but normally one
item of work per term is marked and returned to students.
Students are encouraged to consult class teachers about specific queries either during regular
office hours or by e-mail. Class teachers and faculty hold weekly (at least) office hours
throughout term.
During the thesis writing period, students receive feedback at regular meetings with their
supervisor and by presenting their work at Work in Progress seminars and other Departmental
workshops. Students nearing completion also have the opportunity to practice presenting
their job market paper at a special job market seminar series.
1.2 Summative assessment
Summative assessment is mainly by means of closed-book three-hour examinations in the
Summer Term. Core course examinations are usually a combination of short questions to
check the precision of a student's analytical capabilities, coupled with longer, more openended questions that allow the student more scope to display the breadth of his knowledge.
The Research Paper is 5-10,000 words, submitted in the Summer Term.
In order to maintain good practice in assessment, examinations are double-blind marked
according to outline solutions/mark frames supplied by the module proprietor(s).
The PhD thesis is examined according to London School of Economics regulations.
13. Programme structures and requirements, levels, modules and awards
MRes/PhD Economics programme regulations:
For students entering before the 2010-11 session
For students entering in or after the 2010-11 session
Additional information
14. Criteria for admission to the programme
Track 1 applicants must have a postgraduate degree or a first class undergraduate degree, or
the equivalent from outside the UK, with exceptional grades in economics, econometrics,
mathematics and other quantitative subjects.
Track 2 applicants should be able to demonstrate exceptional performance on an appropriate
postgraduate programme in economics.
All applicants must have taken the GRE General Test no more than five years before
applying, and must include the test score with their application. Most successful MRes/PhD
applicants have scores of 800 in the quantitative section.
All applicants are expected to demonstrate evidence of creativity and inclination towards
research.
15. Indicators of quality:
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The School participates in the Postgraduate Research Experience Survey (PRES)
which provides indicators of student satisfaction with various aspects of their research
degree programme. Results from this survey have been positive for the School;
All MRes/PhD examinations are scrutinised by external examiners. External
examiners reports are considered by the MRes exam board and centrally by the
School;
Examiners’ reports from viva examinations are considered centrally within the School
and provide indicators on the quality of the research student experience and
supervision quality;
The LSE Careers Centre website provides data on career destinations of LSE
research graduates;
The Department is able to place its PhD students in academic positions in the US, as
well as in the best research universities in Europe. A 2005 study by the Universite
Catholique de Louvain ranked LSE 10th worldwide for placing students in prestigious
economics departments. For details of recent placements see
http://econ.lse.ac.uk/phdc/.
16. Methods for evaluating and improving the quality and standard of teaching and
learning:
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The Teaching and Learning Centre (TLC) runs the Postgraduate Research
Experience Survey (PRES) and distributes results to departments. Survey results are
considered by School Committees (Research Degrees Sub-Committee & Teaching,
Learning and Assessment Committee) as well as within academic departments. Any
issues arising from the PRES would be addressed by the appropriate
body/department;
Taught courses on MRes/PhD programmes are included in the School’s internal
student satisfaction survey, conducted by the Teaching Quality Assurance and
Review Office;
Departments review their programmes according to their own system of periodic
review;
The Methodology Institute offers methodological training across all PhD programmes
and transferrable study skills training courses are offered by the TLC for all
MRes/PhD students: this central resource enhances the standard of teaching and
learning for all research students across the School.