Economics

The degree involves studying courses to the value of 12 units over three years, plus LSE100. You will also have the opportunity to apply for a year abroad at one of our global exchange partners. 

First year

In Michaelmas Term of the first year of the programme you will gain an essential foundation in economics and learn the necessary quantitative skills. In Lent Term you will take introductory courses in microeconomics, macroeconomics and econometrics. You will also choose an outside option course from a rich array of courses from other departments – this can be a whole unit course or two half unit courses in Michaelmas Term and Lent Term, respectively. In addition, you will "‹also take LSE100.

Michaelmas Term

Economics (0.5)

Principles economics course to introduce students to traditional and topical economic questions and how both established and new economic approaches can deal with them.

Quantitative Methods (0.5)*

The aim of this course is to develop the basic mathematical tools necessary for further study in economics and related disciplines.

Elementary Statistical Theory (0.5)

The course provides a precise and accurate treatment of introductory probability theory, statistical ideas, methods and techniques. 

Outside option

Lent Term

Microeconomics I (0.5)

This course provides a foundation to help students understand key microeconomic questions using a variety of established and new approaches.

Macroeconomics I (0.5)

This course provides a foundation to help students understand key macroeconomic questions using a variety of established and new approaches.

Econometrics I (0.5)

Introduction to econometrics to teach students the theory and practice of empirical research in economics.

Outside option

*Students can opt to take Mathematical Methods (1.0) in place of Quantitative Methods (0.5) and the Lent Term outside option (0.5).

LSE100*
A half unit, running across Michaelmas and Lent Term in the first year, LSE100 is compulsory for all LSE undergraduate students, and is designed to build your capacity to tackle multidimensional problems through research-rich education.

Second year

The second year of the programme builds on the Year 1 courses in microeconomics, macroeconomics and econometrics. You will develop a firm grasp of core analytical methods and apply them to a range of problems. You will also choose one outside option from another department (a whole unit or two half units in Michaelmas Term and Lent Term, respectively).

Microeconomics II (1.0)

This intermediate-level course will help students understand key microeconomic questions and challenges and also evaluate possible solutions using a variety of approaches and student projects.

Macroeconomics II (1.0)

This intermediate-level course will help students understand key macroeconomic questions and challenges, and evaluate possible solutions using a variety of approaches and student projects.

Econometrics II (1.0)

Intermediate-level course to teach students the theory of econometrics, the practical problems of empirical research, and how to do empirical research  themselves in a student project.

Principles of Finance or optional course (1.0)

Third year

In the third year there are specialist options in all the main fields of economic enquiry, and you can choose your courses according to your interests. One of these courses could be from an approved list of relevant courses offered outside the Department.

Four options from economics or closely related subjects

For the most up-to-date list of optional courses please visit the relevant School Calendar page.  

Where regulations permit, you may also be able to take a language, literature or linguistics option as part of your degree. Information can be found on the Language Centre webpages.

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 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 undergraduate course and programme information page.

Quick Careers Facts for the Department of Economics

Median salary of our UG students six months after graduating: £38,500*

Top 5 sectors our students work in**:

• Financial and Professional Services
• Accounting and Auditing
• Consultancy
• Education, Teaching and Research
• Government, Public Sector and Policy

*The data was collected as part of the Graduate Outcomes survey, which is administered by the Higher Education Statistics Agency (HESA). Graduates from 2017-18 were the first group to be asked to respond to Graduate Outcomes. Median salaries are calculated for respondents who are paid in UK pounds sterling.

**The data was collected as part of the Graduate Outcomes survey, which is administered by the Higher Education Statistics Agency (HESA). Graduates from 2018-19 were the second group to be asked to respond to Graduate Outcomes.

This degree provides an excellent preparation for a range of careers, but we particularly welcome students who want to learn about economics, rather than simply prepare themselves for a prosperous future.

Over the past two decades many of our graduates have chosen to pursue careers in the financial sector, which can include positions involving economics research as well as those in banking or hedge funds. Increasingly, many have also preferred to take up positions as economic or management consultants, to join central banks, their home country's government economic service or international organisations. Some graduates from the programme pursue quite different careers, whether as professional accountants and auditors, engaging in entrepreneurial activity, marketing or law, or in entirely different fields.

A significant number choose to go on to graduate study, not just in economics but also in finance, management, development, economic history and other fields. Throughout their time at LSE we work to prepare our students who are aiming in this direction to understand the rewards of engaging in economics research and the benefits of interacting with faculty and visitors who are leading economists.

Further information on graduate destinations for this programme

Annabell Litchfield

BSc Economics, 2010
Executive, Economic Advisory, EY

 

The summer after my second year at university I began working as an Economist intern at the Office of Fair Trading (OFT). Whilst there, I gained an insight into working as an Economist for the civil service, enabling me to apply my studies to a high profile investigation into current account charges. In my third year, I decided to apply for Economist posts in both the public and private sector and began work at London Economics, an economic consulting firm, after graduation. After two years (and one promotion) at London Economics, I decided to move to a larger firm, EY, whose Economic Advisory practice was looking to expand rapidly.

Nikolai Dienerowitz

BSc Economics, 2010
Senior Consultant, Oliver Wyman

I had no clear view of what I wanted to do before I came to LSE, so being in an environment that allows you to explore many different career opportunities has helped me a lot. Being made aware of what you need to do to be employable also helped, and sets LSE apart from other universities.

During my studies, I interned with KPMG (financial services advisory), HSBC (private banking) and McKinsey (Financial Institutions Group). This gave me a good overview of career opportunities and confirmed my decision to apply for a role in consulting. My aspirations have not changed significantly since I left LSE, although they have become more focused since I started working (or perhaps more realistic!). Fortunately, I have not encountered major setbacks so far, so have not had to change track.

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.