Programme Specification: MSc Econometrics and Mathematical Economics
MSc Econometrics and Mathematical Economics (research)*
1. Awarding Body
2. Details of accreditation by a
professional/statutory body, e.g. ESRC;
BPS etc
3. Name of final award
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
This is an approved programme of the ESRC
1+3 PhD scholarship scheme (UK/EU only).
MSc
Econometrics and Mathematical Economics
Econometrics and Mathematical Economics
(Research)*
Full-time 10 months, or 22 months for those
who first register for the preliminary year.
Economics
N/A
L1UB (10 months)
L1UT (22 months)
L1U7 (Research)*
February 2004 / November 2012
10. The programme aims to:
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Give students proficiency in the mode of discourse and skills of advanced
microeconomics, macroeconomics and econometrics;
Give students the ability to apply that knowledge to new problems and contexts;
Give students facility in the application of mathematical and statistical techniques to
advanced economic theory and econometrics;
Prepare students for careers as professional economists in government, business, or
in academia (via a PhD).
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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An advanced understanding of a specialist subject of the student’s choosing.
Competence in quantitative techniques to an appropriate level
An ability to analyse new economic facts and models.
The ability to apply economic analysis and the technical skills appropriate to
subsequent employment as a professional economist.
Knowledge and understanding of advanced topics in economic analysis.
Proficiency in techniques of advanced mathematical economics and/or econometrics.
Proficiency in (depending on courses chosen) some or all of the following:
a. skills in IT for general and academic purposes,
b. library and Internet research,
c. use of econometric software,
d. research-report writing,
e. oral presentation.
Information relating to careers.
12. Teaching, learning and assessment strategies to enable outcomes to be achieved
and demonstrated
1.1 Teaching
1.1 Design
This programme is designed to meet the needs of those who wish to take a more
mathematical approach to economics. Papers 1 and 2 are compulsory courses in
econometric analysis and microeconomic theory, with theory offered at two levels. For papers
3 & 4, students choose from a selection of advanced econometrics, microeconomics,
macroeconomics, economic theory, statistics, or specialised field options, taking students
towards the research frontier in the area.
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. Practical considerations such
as student numbers or the level of treatment of the subject requires that the dominant mode of
teaching be formal lectures for developing and illustrating the key concepts. However, in
order to reinforce the understanding of those principles, to enable effective interaction with
students, and to provide regular formative assessment, lectures on the majority of Economics
courses are coupled with small-group classes. Classes and/or computer workshops, as
appropriate, also accompany the lectures on the Statistics courses.
Some courses are exclusive to this programme and so are taught to fairly small groups of
students (max. 20). The small numbers, as well as the relative homogeneity of the students’
undergraduate background, allows the teaching to be far more interactive in nature than for
most of our graduate courses and the usual distinction between formal lectures and class
work does not apply.
Contact hours varies between 40 – 90 hours/course.
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. This
particular programme draws heavily on the Department’s acknowledged research strength in
econometrics. Lectures are taught exclusively by LSE or visiting faculty. Classes are taught
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.
2. Learning
2.1 The role of classes
The primary purpose of the class teaching delivered on the bigger modules is to deepen and
broaden student understanding of core material taught in formal lectures, to enable application
of principles as appropriate and to enable students to learn in an interactive environment. On
the smaller economics modules specific to this programme, these principles can be integrated
with the delivery of lecture material. Students are given problem sets to complete
independently and time is spent reviewing these but, as these modules cover material at
frontier of current research, more time is devoted to discussing the field, rather than to specific
techniques.
The interactive nature of teaching on this programme permits a number of functions:
a. A high degree of responsiveness to students’ queries and difficulties
b. Formative assessment and feedback on work marked by the teacher
c. Independent learning, by the advance completion of assigned exercises.
d. The development of oral communication skills. Teachers promote the active
engagement of students in the discussion of subject material.
2.2 Support
The Programme Director, MSc Tutor and Programme Manager are available to advise
students on course choice and other programme-related issues.
Students are allocated a faculty member to act as their academic advisor. All teachers hold
regular office hours for student consultations.
Information on study skills, IT training, library resources and language support is given to
students during induction and is available on the LSE website.
During term, students are offered training sessions on STATA.
Comprehensive course packs, including reading lists, articles and other readings are provided
for each of the courses. Lecture notes, problem sets and solutions are provided via Moodle.
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‘Remedial’ classes and drop-in surgeries are scheduled throughout the year for students who
need extra support with mathematics and statistics.
3. Assessment
3.1 Formative Assessment and Feedback
Initial formative assessment takes place at the end of September when students take tests as
formative assessment in EC400 focusing on mathematics for micro and macroeconomics and
probability and statistics. This identifies those in need of additional support.
Formative assessment and feedback take place primarily during teaching. Feedback is given
through the discussion of exercises completed by the students and through the general
discussion of teaching material. Formative assessment is tailored to the level and content of
particular modules but normally two items of work per term are marked and returned to
students. For the two compulsory courses, students will sit a diagnostic test at the end of the
first term and a mock exam at the start of the summer term.
Students are encouraged to consult their teachers about specific queries either during regular
office hours or by e-mail. Teachers hold weekly (at least) office hours throughout term.
3.2 Summative assessment
This programme conforms to the LSE Classification Scheme for Masters Degrees.
Summative assessment is mainly by means of closed-book three-hour examinations in the
Summer Term. Exam papers are usually a combination of short questions to check the
precision of a student's analytical capabilities, coupled with longer, more open-ended
questions that allow the student more scope to display the breadth of his knowledge. The
Statistics half-unit courses offered under papers 3 & 4 are each assessed by two-hour exams.
The MSc Economics field options are assessed by a three-hour exam (50%) and a 6,000word dissertation (50%).
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).
13. Programme structures and requirements, levels, modules and awards
See the MSc Econometrics and Mathematical Economics programme regulations.
All MSc students within the department are eligible for a conditional offer of progression to
MRes/PhD.
Additional information
14. Criteria for admission to the programme
Minimum entry requirement: One year - First class honours degree or equivalent with
strong background in economic theory, econometrics, statistics and mathematics.
English requirement: Standard
GRE/GMAT requirement: All graduates of non-UK institutions must submit a GRE score no
more than five years old.
Applicants with high academic ability but lacking a sufficient background in economics,
econometrics, statistics or mathematics can apply to take the programme over two years.
The purpose of the first, or preliminary, year is to enable students to develop their skills to the
point where they are eligible for postgraduate study. Entry requirement – a first class honours
degree or equivalent with strong quantitative background including linear algebra and
multivariate calculus. Some coursework in econometrics and economics is desirable.
15. Indicators of quality
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QAA Subject Review (December 2000): awarded 23 points out of 24;
RAE rating (2008): 60% world leading, 35% internationally excellent;
Demand for places (2009): applications 282, intake 18;
30% of students (2005/6-2009/0) achieve Distinction grade , i.e., three marks of 70+,
plus a pass, or two marks of 70+ and two marks of 60+ with an aggregate of 280;
The LSE Careers Centre website provides data on career destinations of LSE
graduates.
16. Methods for evaluating and improving the quality and standard of teaching and
learning
A. School-wide mechanisms:
 induction programme and mentoring scheme for new members of staff;
 regular staff appraisal and review;
 improvements in teaching technique by the Teaching and Learning Centre through
observations, advice and further training;
 student evaluations of courses and teachers;
 the Teaching Learning & Assessment Committee;
 the Graduate Studies Subcommittee;
 TLAC Review once every 5 years.
B. Departmental Mechanisms:
The Head of Department, in consultation with subject area nominees is responsible for
assigning lecturers to courses. He and the staff member responsible for the recruitment of
GTAs both receive results of the School’s Teaching Quality surveys.
Primary responsibility for course content and delivery rests with course proprietor(s). They
receive feedback on the course, their teaching and the teaching of other faculty and LSE
Fellows via the School’s termly Teaching Quality surveys.
General student feedback and consultation takes place via the termly MSc Staff/Student
Liaison Committee, chaired by the MSc Tutor. In between times, the Programme Manager
acts as the conduit for student comments or complaints.
The Exam Board Chair (MSc Economics & Mathematical Economics) is responsible for all
aspects of the examination process.
The Department’s Graduate Studies Committee, chaired by the Head of Department is
responsible for:
a. programme monitoring and review (degree structure, course content)
b. examination issues (external examiners, outcomes, progression)
c. graduate experience (admissions, teaching, advising)
Proposed changes to the structure of the degree or its core courses must be submitted to a
Departmental Meeting for approval before going to the School’s GSSC.
* This programme was withdrawn from the end of 2012/13 session.