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At its core, the role of an economist transcends mere number-crunching. It encompasses analysing consumer patterns and data before using these findings to grow businesses and shape everything from tax laws and organisational strategies to interest rates and international trade agreements. Indeed, the tasks at hand require advanced skill sets, especially when complexities abound and decisions hold significant weight. A changing world with a changing climate further demands more up-to-date skillsets that harness the latest developments in the field for the good of people and planet.
Such outcomes are possible with the right education — like the MSc Economics from Lancaster University Management School (LUMS).
The programme was specifically designed to produce professionals capable of addressing global challenges by analysing problems and innovating solutions. While several qualifications are offered globally with the same goal, its emphasis on support truly sets this one apart. “We have a friendly atmosphere in the department, and all lecturers are easily accessible,” says programme director Dr. Olivier Cardi.
Environments like these keep students engaged as they explore a diverse range of optional modules aligned with their faculty’s expertise. These insights infuse teaching sessions with vibrancy and forge meaningful connections between mentors and mentees. The MSc Economics’ Research Skills for Economists module was even revamped to focus less on econometric techniques application and provide more of an opportunity for students to refine and discuss their dissertation ideas with the module leader.
The MSc Economics explores a diverse range of optional modules aligned with the faculty’s expertise. Source: Lancaster University Management School
Recent graduates have even returned to LUMS to present their dissertations to current cohorts. “It was quite special!” enthuses graduate Edward Gardner, whose project focused on a topic of mutual interest with the Bank of England. This level of attention was set in place to ensure every aspiration remains catered to.
“Half of the cohort is made up of students who have graduated from LUMS, whilst the rest of the cohort comes from different parts of the world,” explains Dr. Cardi. “Our strength is the supervision of their unique dissertations as our programme ensures constant and close supervision from welcome day until the final day.”
In fact, those keen on preparing a research proposal for PhD funding/programme applications are matched with dissertation supervisors by Week 3 of the first term. “This helps them better prepare as the deadline is mid-January for European universities and the end of January for ESRC funding applications,” says Dr. Cardi, who believes students focused on achieving professional success require the same amount of support.
So, he initiated an annual career session that invites thriving MSc Economics graduates to share their experiences in the private sector with current students. For example, earlier this month, Dr. Mat Weldon, a data scientist at the UK’s Office for National Statistics, spoke on how data and quantitative methods can inform optimal decisions. For more peeks into the industry, MSc students are invited to Esmée Fairbairn guest lectures to interact with and learn from economists from the Bank of England or other prestigious institutions. Students could even opt to broaden their intellectual horizons abroad, too, by spending an additional term with one of LUMS’s many international partner institutions.
“Studying abroad gave me the confidence to develop a wide set of human and technical skills that I shall keep developing every day,” shares graduate José Dias from Portugal, who is currently an Assurance Associate Assistant at PwC.
Half of the cohort comes from different parts of the world. Source: Lancaster University Management School
LUMS offers similar resources and opportunities across its programmes. For instance, the MSc Money, Banking and Finance frequently welcomes speakers from organisations like the Bank of England, the European Central Bank, and the Financial Conduct Authority. This programme was developed for students aiming to land analyst or decision-making roles within corporate and commercial banking or government and regulators.
It follows a similar structure to the MSc Economics. The programme commences with essential core modules, gradually integrating optional courses and ultimately culminating with a dissertation. Throughout this journey, students delve into contemporary techniques of econometric analysis, honing skills in forecasting and risk assessment. Along the way, they become skilled in dissecting financial markets, understanding the institutional framework of money and banking sectors, and comprehending the pivotal roles played by governments and central banks in shaping the financial landscape.
The brand new MSc Investment Management and Financial Analysis is equally comprehensive. Unlike conventional UK master’s programmes in finance, this one offers modules that strike a unique balance between academic rigour and practical application. For example, core modules span training in financial programming languages including VBA, R and MATLAB, while providing hands-on experience with data platforms such as Thomson EIKON or FactSet.
This breadth was set in place for a reason. Led by esteemed experts in accounting and finance from LUMS, alongside seasoned tutors from Fitch Learning, the programme offers unmatched preparation for the CFA Level II examination.
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