| Full-Time Master's Economics |
Getting into the LSE master's in Economics is probably not too hard.
This is speaking relative to getting into the LSE's MRES/Ph.D. (the new
program that allows students to enter the PhD stream directly from
undergraduate work), or a top 15 Economics Ph.D. in the U.S.
I'm sure that a 3.5 GPA from a good American college, decent background
in economics, and multivariate calculus and linear algebra will carry
the day for you. You will need at least a 90th percentile on the
quantitative GRE, or close. Most people have in the 750-800 range on the
GRE quantitative. The analytical section has been scrapped, but I
suspect that most folks had 700-plus on this.
There is no mystery to the review process. I don't think anything
besides grades, test scores and recommendations counts.
Be warned: LSE and other UK schools have traditionally offered a one-
year taught master's course followed by three years of a Ph.D., which
consists of mostly research and minimal coursework. These days LSE is
allowing direct entry from undergraduate study to the Ph.D. This is the
new MRES/Ph.D. program of which I speak.
Prior to this, to get into the LSE Ph.D. program in Economics you needed
to get the master's with an average grade of 65 percent on the master's.
Since assessment was entirely by means of a single exam at the end of
the year, the process can be quite hard. Usually fewer than 20 percent
of the LSE master's students got sufficiently high exam grades to
continue to the Ph.D.
The other change for those trying to use the M.Sc. as a springboard to
the LSE Ph.D. program is that you will have to take one of the "level
II" classes in the core areas of micro, macro or econometrics. These are
harder and more technically oriented classes. So don't by any means
think that the M.Sc. admissions process guarantees you a Ph.D. place.
You need to perform at a very high level to earn that place.
For those wishing to enter the MRES/Ph.D., I am sure that the admissions
process is super-competitive. Probably you will need a GRE quantitative
score of at least 770 to 800. And very, very strong credentials in math.
The core courses- the new "level II" classes- will be very technical.
There is a related, ultra-prestigious program- the M.Sc. in Econometrics
and Mathematical Economics. This used to be the favored track for Ph.D.
hopefuls. Given the revamped nature of the program, I'll bet that some
of the shine has gone off this offering. To enter into this program, you
will essentially need Ph.D.-student credentials. Especially if you
intend to do well. American students who have taken this program over
two years have sometimes done very well, but those who have taken it
over one year have often struggled. You should know that British
undergraduate education is totally specialised. Therefore an LSE student
who has done the B.Sc. in Econometrics will have been exposed to very
heavy-duty econometrics and a rigorous "graduate-level" mathematical
treatment of economics; they do not go light on the calculus. So just be
aware that the standards expected are high.
Essays, interviews- these are of negligible importance in admissions. I
believe that an essay might be required. I think that for direct
entrants to the MRES/Ph.D. this might take on a smidgeon more
importance. But I highly doubt it. Grades and GREs are what economics
admissions committees value.
I should qualify that: a letter of recommendation from a big name
professor can also be very very helpful. This is particularly true for
MRES/Ph.D. hopefuls. Finally two points: (a) if you are rejected for the
MRES/Ph.D., you might yet be accepted for the M.Sc., in which case you
do get a second shot at a Ph.D. from the LSE. It ain't gonna be easy,
but it's better than a flat-out rejection, (b) for those applying to the
MRES/Ph.D., I'd recommend advanced calculus, real analysis and
differential equations courses, if you study in an American university.
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