lse economics phd acceptance rate

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Research - PhD Economics Programme

We take pride in the Department of Economics’ outstanding placement record and it’s our ambition to place our PhD students in the best institutions worldwide. Our placement record is comparable with the top economics departments in the world, as shown by some of our recent placements which include MIT, UC Berkeley, Columbia, Stanford and Northwestern.

Professor Robin Burgess

The LSE Department of Economics is committed to an individualised and contextual review of each application to the MRes/PhD Economics programme. 

Each year the Department of Economics admits around 20 funded students to join our vibrant doctoral programme, consisting of over 100 students from many countries and backgrounds. Our PhD students pursue research in all economic fields, closely supervised by a variety of faculty . We have a Chair and committee for both PhD Admissions and PhD Recruitment, as well as a dedicated professional staff at School and Department level managing funding and admissions.

The  LSE Economics PhD Programme  is grounded in two years of rigorous coursework through the MRes component and by a strong research element. You can find information about the individual  research courses  offered through our programmes.

As is the norm with top economic departments in the US, students entering the LSE PhD Economics programme are typically offered five years financial support; for more information please visit our Cost and Financial Aid page.

Research Centres in the Department of Economics

The LSE Department of Economics is somewhat unique for its major  Research Centres . PhD students benefit from these centres both in terms of getting access to research funds as well as other facilities which complement their doctoral research.

Suntory and Toyota International Centre for Economics and Related Disciplines  (STICERD)

Centre for Economic Performance  (CEP)

Financial Markets Group  (FMG)

Centre for Analysis of Social Exclusion  (CASE)

International Growth Centre  (IGC)

Centre for Macroeconomics  (CFM)

Programme Requirements

Follow the link below to access information about the PhD routes and coursework.

Programme and School Regulations for research students

Find out more .

Further information

How to apply.

PhD Economics - Admissions FAQs

How to Apply

General Information for prospective research students

Guidelines for submitting Research Statement

An application for 2024 entry to the PhD Economics should include a Research Statement, along with other required information (Note: A separate sample of Written Work is not required as part of the PhD Economics application).

Your Research Statement should be submitted in place of the Outline Research Proposal, along with your application form and other required supporting documents, via the LSE online application system (see the  PhD Economics Admissions FAQs ).

What should my Research Statement contain?

Please answer the following questions clearly and concisely. Max 200 words per question.

1.      Why do you want to do research in economics?

2.      Can you explain how your studies and experience make you suitable to do research in economics?

3.      Which aspect of the PhD do you think you will like the most? Which will you dislike the most? Why?

4.      Tell us about your favourite paper in economics. What do you like about it? How would you improve it?

5.      Write a comment for a general audience on ONE of the following topics (i) Is inequality good for growth?  (ii) Do immigrants take the jobs of native workers?  (iii) Is CEO compensation excessive? (iv) Is universal minimum income a good idea? (v) Overall, has central banks' move to inflation targeting been a success? (vi) Is culture an important determinant of differences in income per capita across countries? (vii) Markets function well as information is aggregated efficiently through prices. (viii) Elections are effective at disciplining politicians who do not have the public interest as their main goal.

How can I demonstrate research potential?

If you have served as research assistant for an economist please ask that person to write a letter focussing on your research skills and describe your experience – reference point 2 (above) of the research statement.

If not, please list any evidence you think would be valuable. Examples include but are not restricted to: experience working autonomously under stress without any guidance, demonstration of creativity in any form, experience of writing original research.

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Class teaching opportunities are available during the course of research degrees. They represent useful professional training and can be a valuable and important experience. For more information, click here.  

PhD Job Market

Towards the completion of a research degree the Department organises an orientation meeting for prospective job market candidates and offers advice as well as a platform for candidates to present their experience and research. Available soon: the page with our current job market candidates.

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• MRes/PhD Programme Director:  Professor Maitreesh Ghatak
• MRes/PhD Programme Manager: Emma Taverner
• PhD Placement Officer:  Matthias Doepke

You can find more information about the profiles of Faculty and Teaching Fellows or Graduate Teaching Assistants, in the People section.

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How to get into the London School of Economics

The London School of Economics and Political Science, better known as the London School of Economics or LSE, is among the most renowned universities for social sciences in the world. Whether you aspire to become a world leader, a bank executive, head of an NGO, or an academic thought leader, graduating from LSE will undoubtedly enhance your abilities and opportunities. With a three-year undergraduate degree structure (for most fields) and an alumni network envied by institutions worldwide, there are plenty of reasons to choose LSE for your studies.

By Alastair Campbell - Land registery, CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=116605363

Why Study at the London School of Economics?

How many international students are at the london school of economics.

LSE boasts one of the most international campuses on the planet. While there was once a greater representation of world countries at LSE than at the United Nations, the university still comprises 71% international students, and more than 40% of its teaching staff hails from overseas.

London School of Economics Ranking

LSE consistently ranks at the top for social sciences and holds the second position globally for political science. It secures a place in the top ten across several other fields. While its overall international ranking may be somewhat influenced by its focus on the social sciences and a lack of research budget compared to more STEM-oriented universities, LSE is still considered the 45th best university in the world, even when compared to larger and wealthier counterparts.

London School of Economics Notable Alumni

LSE's list of alumni reads like a who's who of economics, politics, and business. Among its globally recognized alumni are Queen Margrethe of Denmark, former British Prime Minister Clement Atlee, President of Kenya Jomo Kenyatta, former Canadian Prime Minister Pierre Trudeau, economist Paul Volcker, former Supreme Court Justice Anthony Kennedy, and George Soros. Even the fictional world acknowledges LSE's renown, with The West Wing's President Bartlet earning his PhD from the School.

What Does the London School of Economics Specialize In?

As the name suggests, LSE's priority lies in the study of social sciences. It is renowned for economics and politics, and its history programs, especially economic history, are also highly regarded. Business, finance, and management are popular choices due to the school's unique emphasis, with many top banks and consulting companies actively recruiting from each graduating class.

By Diliff - Own work, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=874522

LSE Programs for International Students

Graduate programs.

One of the most common routes for international students at LSE is pursuing a graduate degree. Some funding options are available, and the cost is generally lower than in the US. Additionally, master's degrees typically require only one year of study, while a PhD program takes three years.

Postgraduate Programs

Students aspiring to apply for a PhD at LSE should begin by contacting individual departments to gauge interest in their proposed area of study. Unlike the US, students pursuing a PhD in the UK are expected to have a well-established thesis idea and spend the majority of their time writing the dissertation. Therefore, most students apply while completing a master's degree.

Master’s Programs

LSE's master's degrees are among its most popular offerings for students. They are available in dozens of subjects and usually take only a year to complete. Compared to comparable US programs like SAIS or Georgetown, LSE's master's programs offer substantial savings and incredible opportunities .

Summer Schools

LSE stands out as one of the few London universities offering a range of summer school options, including the chance to take university-level courses. However, these opportunities are typically reserved for students who have already received an offer to study at another university.

Admission Requirements for US Students

LSE does not require the ACT or SAT . Instead, students are expected to offer either at least five AP exams with high scores, three A-level exams, or a full IB diploma.

London School of Economics Acceptance Rate for International Students

As with most UK universities, the acceptance rate at LSE is generally higher than what students from the US are accustomed to seeing. Offer rates for some programs can be as high as nearly 37%, while the most competitive programs still have an offer rate of around 10%. However, please note that these offer rates are dependent on students meeting the requisite AP, IB, or A-level qualifications.

Is It Hard to Get Into the London School of Economics for US Students?

Getting into LSE is not easy due to its stringent academic requirements. Students are typically required to have five AP exams, each with scores of either five or three fives and two fours, in addition to a 3.7 high school GPA. IB test requirements are equally demanding, often necessitating 41 points or more depending on the subject. Students offering A-levels must meet minimum requirements such as A*AA, AAA, or AAB. Nonetheless, students can still stand out through other aspects of their application.

London School of Economics International Tuition

LSE is one of the most expensive universities in the UK for overseas students. Tuition fees vary depending on the degree field but typically amount to around 27,000 GBP, which is approximately $35,000 at July 2023 exchange rates. Other living expenses and travel costs can double this figure; however, the majority of LSE's degrees are only three years long.

Scholarships for International Students

LSE offers substantial financial aid for overseas students, setting itself apart from many other UK universities. However, it's essential to note that the aid is entirely need-based. LSE aims to attract the best and brightest from around the world, and while generous awards are possible, it's worth considering that the notion of "need" may differ between an American perspective and that of someone from a developing country.

How to Apply for the London School of Economics from the US?

Applying to LSE from the United States is incredibly straightforward. Like the majority of other UK universities, the application is done through UCAS . The typical application deadline is around mid-January of each year, although some LSE programs may accept applications from international students after the January deadline in rare instances (but this can vary from year to year). The UCAS application allows students to apply to five programs, helping to reduce competition at top programs as students cannot apply to places they have little intention of attending. Notably, LSE does not require a separate supplement and only requires a single letter of recommendation and a personal statement to be used among all five choices.

How to be Accepted to LSE? 5 Tips From Study Abroad Experts

1. Focus Early: Many students don't take social science courses until later in high school. However, determining your desired field of study earlier and having the relevant coursework to support it can help you stand out.

2. Read the Right Things: Stay informed about global markets and political affairs by subscribing to publications like The Economist. Demonstrating knowledge of recent texts in the social sciences can also be beneficial.

3. Stay Focused: LSE prioritizes extracurricular activities that align with your chosen field of study. Therefore, concentrate on activities that demonstrate your passion and commitment to your academic interests.

4. Seek Leadership Opportunities in Relevant Fields: LSE values leadership qualities in its applicants. Engaging in leadership roles within school clubs, community organizations, or volunteering initiatives can showcase your ability to take initiative and make a positive impact. However, it is important to make sure that these are relevant to your proposed field of study.

5. Connect with LSE Alumni or Current Students: Building connections with alumni or current students can offer valuable insights into the application process and LSE's academic and social environment. Networking can also demonstrate your genuine interest in the school and its programs.

At Ivy Tutors Network, our dedicated team is committed to providing support and personalized guidance for students aspiring to join the London School of Economics. Our test preparation programs are tailored to meet the specific requirements of LSE, ensuring students are well-prepared for the necessary exams.

Additionally, Ivy Tutors Network offers specialized AP exam tutoring , equipping students with the knowledge and skills needed to excel in these crucial exams, which are a prerequisite for studying at the London School of Economics. With Ivy Tutors Network, you can approach the application and testing process with confidence and increase your chances of success!

by Kevin Newton ( aneducationabroad.com )

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• Study in UK /

LSE Acceptance Rate

• Updated on  
• Dec 12, 2022

Located in the vibrant and ever-spirited city of London, the London School of Economics and Political Science (LSE) is indeed a dream university for students wishing to study social sciences across the world. Established in 1895, this esteemed institution boasts 18 Nobel Prize winners as its alumni and countless other personalities who have gone on to become a name in this world. LSE has been consistently ranked among the top universities in the UK and is ranked 49th in the world in the QS world university ranking 2022. If you are an aspirant and desire to become a part of the world at LSE, this blog answers your many questions by providing information about the LSE acceptance rate and application procedure!

This Blog Includes:

Lse acceptance rate for international students, llm acceptance rate, lse economics acceptance rate, lse mba acceptance rate, lse ug admissions & eligibility, lse pg admissions & eligibility.

• LSE Notable Alumni

The LSE Acceptance rate for undergraduate courses is 8.9% and for masters courses, the LSE acceptance rate is 25% as per Admissions Report . Further, some of the least competitive LSE undergraduate courses are:

• BA Sociology
• BSc Actuarial Science
• BSc International Social and Public Policy

Here are some of the least competitive LSE masters courses:

• Executive Global MSc Management
• MSc Culture and Conflict in a Global Europe
• MSc History of International Relations
• MBA (Global Executive Management)

Must Read: London School of Economics and Political Science [LSE]

LSE Acceptance Rates

LSE acceptance rates for various courses are given below:

Being a venerated university in the world, getting a position in one of the undergraduate programs at LSE can be highly competitive. The acceptance rate at LSE for undergraduate programs is 8.9%. It receives applications from all over the world for its limited number of seats making the acceptance rate at LSE low. 

The Acceptance rate at LSE for graduate programs is higher than the LSE Acceptance rate for the undergraduate program. The LSE master’s acceptance rate for graduate programs is 25%. Looking at the acceptance rate, it can be inferred that admission to LSE for any course is highly competitive.

The LSE LLM acceptance rate is 29% which means every 2 students out of 7 applicants are shortlisted. LLM is one of the choicest courses at the London School of Economics and attracts students from all around the world thus a higher acceptance rate is there for this course.

As LSE is famed for its Economics faculty and courses, it receives thousands of applications for programs from all around the world. LSE Economics Acceptance Rate ranges from 17% to 32% and here is the acceptance rate for BSc, MSc and MRes Economics:

• BSc Economics Acceptance Rate: 17%
• MSc Economics Acceptance Rate: 32%
• MRes Economics Acceptance Rate: 20%

LSE offers a Global Executive MBA program as well as a Masters in Global Executive Management which is its alternative to a traditional MBA course. LSE MBA acceptance rate is 76% and is considered one of the least competitive courses amongst international students.

LSE receives undergraduate applications from all over the world using the portal UCAS. Each program has its specific requirement associated with the course which can help the prospective student enhance their application. Applications are evaluated by Academic Selectors who have the power to make the final decision. The decision is made on the basis of the academic merit of the student and their extracurricular records. Each application is considered on an individual basis taking into account a wide range of aspects like a personal statement, scores and subject combination. International students are expected to fill in their complete application before 15th January for evaluation for a place in the university’s courses.

Eligibility criteria are set by the university to ensure a student’s place in any course at the university. Acceptance at LSE is based on the student meeting the eligibility standards. Given below is a list of eligibility criteria set for undergraduate programs. Whilst this is not an exhaustive or unalterable list, these criteria will help you get a vivid picture of the eligibility criteria at LSE:

• An academic achievement which would involve achieved and predicted scores 
• Each course has a separate academic score requirement but the minimum percentage required for any subject is 85% across all subjects studied at the school level
• The student would have to undertake an English proficiency test and demonstrate their ability to use the language. Commonly accepted test scores are IELTS with 7.0 overall or TOEFL with 100 points overall
• Other factors that would form a part of the eligibility criteria are subject combinations, teacher’s reference and personal statement. 

Make your UG application to LSE stand out with the help of Leverage Edu experts!

Research-based programs and world-class faculties set postgraduate degrees at LSE apart from other universities. It welcomes students from over 150 countries of the world. Application is an online process with soon-to-be students filling in their applications using the UCAS portal. The application process would also involve the students submitting their supporting documents. Students would have the option to choose their additional subjects during the application process itself.

Eligibility prerequisites for graduate courses although similar are a bit different from undergraduate programs. Enlisted below is a list of eligibility criteria for graduate programs:

• Academic achievement with transcript
• Statement of purpose
• English language proficiency test score
• Certain courses might also require you to submit your GRE or GMAT scores

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LSE  Notable Alumni

Up till now, the LSE Alumni have won close to 18 Nobel prizes and approximately 53 are heads of the state. Isn’t that great? Some of the notable names belonging to the list include Friedrich Hayek and Paul Krugman (Economist), George Bernard Shaw (Play writer and Critic), and Bertrand Russell (Nobel Laureate) amongst others.

A pre-eminent member of the esteemed Russel Group of Universities, this university is home to the famed economist Amartya Sen and many more. It offers over 40 undergraduate programs and more than 140 taught and research-based postgraduate programs for its undertakers. Isn’t the number gigantic? It has a range of online courses as well as short-term courses to suit the needs of many people across the world. A paramount social science university, it provides lauded degrees in courses like Economics, Political Science, Law , and Geography amongst many which set its undertaker apart.

LSE has some courses which are in high demand as compared to others. For a limited number of seats, LSE receives a large number of applications thus making getting admission to LSE extremely competitive. 

LSE looks for meritorious students with impeccable academic grades. LSE requires its students to have a minimum of 85% to be eligible to apply for any course.

LSE accepts students from over 150 nations of the world making it a university with a global atmosphere and culture. About 60% of the total number of students are overseas students.

Ranked among the top ten universities of the UK and among the top 50 universities of the world, LSE is a major choice amongst students and one of the best universities to join. Many of its social science programs rank in the top ten in the world.

This was all about the LSE acceptance rate! If you are looking forward to becoming a part of this renowned university, don’t wait for the right time for the journey to begin. Now is the right time, grasp it! Leverage Edu is here to be with you on this journey by helping you with admission formalities and the application process. Sign up today for a free counselling session! 

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LSE's Acceptance Rate At Lowest in Recent Years

LSE has always been highly selective in its admissions process, and recent data suggests that LSE's acceptance rate has hit a historic low, with an acceptance rate of just 12.2% for the 2021-2022 academic year. Despite this being the lowest acceptance rate LSE has seen in years, Crimson students have had amazing success in admissions!

Crimson’s Incoming Class of London School of Economics

Our students have smashed admission records for the latest LSE Class!

Despite the decrease in acceptance rates, 9 students (and counting) have already received offers to LSE! Students, their families, and Crimson tutors and mentors worked together to create stellar admissions-worthy applications.

Here is a breakdown of the offers by department:

• 2 offers to competitive law programmes
• 2 offers to history and economic history programmes
• 2 offers to social and public policy programmes

…and more offers to other departments like Psychology, Finance and more.

We are so excited for Crimson’s LSE-bound students and can’t wait to share their success stories with you! Keep an eye on our blog and website for more regular round admission results.

What is LSE's Acceptance Rate?

Overall acceptance rate.

Generally, LSE has an acceptance rate of approximately 12.2% for undergraduate programs, the lowest in recent years. In 2021, LSE received around 26,000 applications for only 1,700 places, which means that because of the fierce competition, meeting or even exceeding the admission requirements does not guarantee an offer, and students have to go above and beyond to make sure their applications stand out!

LSE Acceptance Rate (Undergraduate)

Source: LSE Freedom of Information

Course-Based Acceptance Rate

Nevertheless, acceptance rates can change depending on the program or school you're applying for. Here are some statistics for the most competitive programmes in LSE.

Most Competitive Programmes at LSE

LSE Admissions Data 2021-2022

For a complete breakdown of admission statistics at LSE, check out their Admissions Data Report for 2021-2022 on their Freedom of Information page.

What do you need to get into LSE?

You need stellar academic qualifications to meet the entry requirements of LSE. All applicants must meet the entry requirements to take up an offer of a place to study at LSE, and because of the limited number of places, we highly recommend you exceed these requirements.

Generally, here are the expected academic qualifications needed:

International Baccalaureate

• A total score of 37 points (three higher level subjects at grades 6 6 6) or 38 points (three higher level subjects at grades 7 6 6) depending on the program.

European Baccalaureate

• An average score range of 80-88 is required, depending on the programme.

Course Specific Requirements

For certain courses, you may also need to pass specific entrance tests. For example, the TMUA (Mathematics Admissions Test) is required for courses offered by the department of mathematics. While the test isn't compulsory, it's highly recommended students sit the test due to the competitiveness of the application process to LSE.

The LNAT (Law National Admissions Test) is needed for admission to the law course, as it provides additional information about the a student's aptitude for the study of law.

To learn more about the complete process of applying to top UK universities , check out our free eBook below!

3 Tips To Help Your Application To LSE Stand Out

1. show enthusiasm for the subject.

It is important to start thinking of which subject you would want to apply for university early on in your high school career so that you can begin to prepare your application early. Importantly, to develop your interest and enthusiasm for a subject, you may want to consider taking part in relevant extra-curricular activities. For example, if you are interested in the humanities courses (e.g. English, History, Politics), it would help to join clubs such as Debating or Model United Nations to hone your argumentative skills and grasp knowledge of the relevant subject matter. This will also help when you are writing your UCAS statement, given that participating in these activities can show a demonstrated interest in the academic subject.

2. Wider Reading

Given that LSE courses are known to be very academic in nature, academic tutors tend to look out for potential students who have genuine academic interest through the books that they read. They would want to see students who have read widely and beyond their high school academic syllabus. In part, this shows potential that the potential student would be able to handle the heavy independent reading required for surviving and thriving in the LSE academic setting.

3. Showcase your academic achievements

LSE is highly competitive, and admissions officers want to see evidence that you are capable of handling the rigorous coursework. Highlight any academic achievements such as high grades, awards, or honors. You may also want to consider including letters of recommendation from teachers or professors who can speak to your academic abilities and potential for success .

How can Crimson help you?

If you need additional help with the application process, book a free consultation with one of our expert UK admission strategists . They can provide individualized and highly informed support in every aspect of your applications.

Our support includes:

• Matching every student with a team of supporters who are graduates from Oxbridge and other top UK universities
• Addressing every part of the UCAS application in detail - from test prep to personal statements, extracurriculars to interview prep.
• Providing oversight by former Oxbridge admissions officers
• Sharing years of inside UK admissions consulting knowledge unavailable elsewhere

Can you visit LSE?

LSE organises undergraduate open days and virtual tours. Find out more here .

Where is LSE located in London?

LSE is located in the heart of London, in the neighborhood of Holborn.

Can you apply to LSE twice?

You can apply to LSE twice, but you should carefully check the admission requirements and deadlines for each application cycle, and make sure to submit a strong and competitive application.

Can you transfer to LSE?

Transferring to LSE may be possible, but extremely rare - LSE generally does not accept transfer students from other universities or colleges. If you're interested in transferring to LSE, find out more here or speak with us .

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University of LSE Acceptance Rate for International Students

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LSE Acceptance Rate 2021

London School of Economics and Political Science (LSE) is a dream university for international students who wish to pursue economics, finance and social sciences across the world. LSE is in a vibrant and spirited city of London. LSE is a prestigious and one of the top universities in UK. It boasts 18 Nobel Prize winners as its alumni and countless other personalities who are known to the political and business world. LSE has been consistently ranked in top 10 positions among the top universities of the UK and is ranked at 49thposition at QS World University ranking 2021. Therefore, international students are interested in getting admission in LSE. Since it is a competitive university, LSE acceptance rate is very low. GoUK has provided a detailed information about the LSE acceptance rate 2021, LSE acceptance rate postgraduate, LSE acceptance rate undergraduate and LSE requirements for international students .

LSE Acceptance Rate for International Students

LSE is a pretty competitive university among international students. LSE acceptance rate for international student is low because, after graduation most of the students are placed in banking and finance related companies across the world followed by research and education.

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LSE Acceptance Rate for Undergraduate

London school of economics acceptance rate for undergraduate course is low. Because, getting admission for undergraduate program at LSE is highly competitive. The acceptance rate at LSE for undergraduate course is 16% . They receive applications from all over the world for its limited number of seats that makes the acceptance rate at LSE low. LSE accounting and finance acceptance rate is 16% whereas LSE economics acceptance rate is 4.9%. These are the two undergraduate program that has low and high acceptance rate at LSE. GoUK has listed the most competitive undergraduate course

LSE Masters Acceptance Rate

London school of economics acceptance rate for postgraduate program is higher than LSE Acceptance rate for undergraduate program. The LSE acceptance rate masters is 25%. LSE data science acceptance rate is 9%. Looking at LSE Masters Acceptance Rate, it is very clear that getting LSE admission 2021 is highly competitive. GoUK team helps you to get London school of economics admissions and also, we have listed down the most competitive course at LSE.

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LSE LLM Acceptance Rate

LSE LLM acceptance rate is 29% which means that out of 7 applicants 2 students are shortlisted for LLM. LLM is one of the choicest courses at London School of Economics in UK. Thus, it is attracted by most of the students all around the world. Therefore, London school of economics acceptance rate for international students for LLM course is high.

LSE Economics Acceptance Rate 2021

London School of Economics is famous for its economics coursesand faculty. It receives thousands of applications for economics programs across the world. LSE Economics Acceptance Rate is between 17% to 32% and the acceptance rate for BSc, MSc and MRes Economics is listed below:

LSE Economics Acceptance Rate for BSc: 17%

MScEconomics Acceptance Rateat LSE: 32%

LSE Economics Acceptance Ratefor MRes: 20%

LSE MBA Acceptance Rate

London school of economics offers Executive MBA program as well as a Masters in Global Executive Management which is an alternative for a traditional MBA course. LSE MBA acceptance rate is 76% and it is the least competitive courses among the international students. GoUK has provided the required information about the LSE acceptance rate to get LSE admission. If you are looking forward to get LSE admission 2021 from this renowned university, it is the right time to grasp it! GoUK is here with you on this journey by helping you regarding the LSE admission formalities and application process. Call us today for a free counselling session! 

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Thinking of Pursuing a PhD in Economics? Info on Graduate School and Beyond

Kasey Chatterji-Len and Anna Kovner

Becoming a PhD economist can provide a fulfilling and financially secure career path. However, getting started in the field can be daunting if you don’t know much about the preparation you’ll need and the available job opportunities. If you’re wondering what it means to be an economics researcher or how to become one, please read on. We’ll review how to prepare for a career in economics research, what an economics PhD program entails, and what types of opportunities it might bring. Economic education is a core component of the Federal Reserve Bank of New York’s mission to serve the community. To empower would-be economists, this post provides information for students who seek a career in economics research. We hope this information will be helpful to students interested in economics, regardless of their background and economic situation.  This information is most applicable to students applying to programs in the United States.  

The Breadth of Economics Research  

Academic disciplines conduct research in different ways, so it’s important to have a basic understanding of the types of questions economists ask and how they approach answering them. There are many definitions of economics, but a broadly useful one is the study of how people, organizations, and governments make decisions under different constraints, and how those decisions may affect their outcomes. 

When answering these questions, economists seek to ground their analyses in models and to be quantitatively precise about the effects they assign to any given cause. The range of topics economists can study is wide, but the accepted approaches to answering questions are stricter. Some examples of what economists might ask: 

• How do different public housing programs affect the children who live there? 
• Does a certain type of law encourage businesses to innovate? 
• How will a change in the interest rate affect inflation and unemployment rates? 
• How much does affordable health insurance improve people’s health? 
• How can poor countries eradicate poverty? 

There are many different subfields within economics, including, but not limited to behavioral, econometrics, energy/environmental, development, financial, international, monetary, public, and urban economics. You can familiarize yourself with the latest work in economics by subscribing to working paper series, such as NBER’s New This Week or the New York Fed’s Staff Reports . To get an idea of the breadth of questions economists can answer, you could listen to Stephen Dubner’s “ Freakonomics Radio ” podcast. You may also want to explore the Journal of Economic Perspectives , the New York Fed’s Liberty Street Economics blog, VoxDev , or VoxEU .  

What Is a PhD Program Like?    

Economics PhD programs typically last five to seven years. Unlike masters programs, they are often fully funded with a stipend, though most require students to complete teaching assistant and/or research assistant (RA) work as part of their funding package. In the first two years, students take classes, many of which are mathematically demanding. The rest of the program can include additional classes but is primarily devoted to original research with the aim of producing publishable papers that will constitute the dissertation.  

Faculty advisors are a central part of PhD programs, as students look to them for guidance during the research process. Economics PhD programs are offered within university economics departments, but there are similar programs in public policy and business schools. You can look at their websites to understand any differences in coursework and subsequent job placements. 

What Can You Do with an Economics PhD?  

Upon graduation, students can obtain jobs in a variety of industries. Many PhD students hope to become university professors. Governments and public policy-related institutions such as the Federal Reserve System, the U.S. federal government, the World Bank, and the International Monetary Fund (IMF) also hire economists to work on policy, lead programs, and conduct research. Finally, economics PhD graduates can also find employment at a variety of private sector companies, including banks, economic consulting firms, and big tech companies. The pay for these different positions can vary. According to the American Economics Association (AEA), the average starting salary for economics assistant professors in 2022-23 was approximately $140,000 at PhD granting institutions and $98,000 at BA granting institutions. 

Programs often publish the placements of their PhD graduates, so you can look online to see specific employment outcomes. See, for example, the University of Maryland’s placements . Ultimately, economists are highly regarded as authorities on a variety of topics. Governments, nonprofits, philanthropic foundations, financial institutions, and non-financial businesses all look to economists to answer important questions about how to best achieve their goals. Thus, earning an economics Ph.D. can potentially help you to influence issues that are important to you. 

Preparing for an Economics PhD Program  

There are several components to an economics PhD program application: college transcripts, GRE scores, letters of recommendation, and personal statements. Please download the Appendix linked below to learn more about transcripts and letters of recommendation. The Appendix details ways in which you can select coursework, obtain research experience, and develop relationships to position yourself for success as a PhD applicant.  

If you feel that you are too far along in your academic career to take enough of the classes described in the Appendix, this does not necessarily preclude you from pursuing an economics PhD. For example, it’s possible to take some of these classes through a master’s program, or through a pre-doctoral RA job. Some pre-doctoral RA jobs, such as the one here at the New York Fed , may enable you to take classes in preparation for graduate school. If you are concerned about your transcript, reach out to an economist at your university for advice; program standards for coursework and grades vary, and it’s a good idea to get more personalized advice. 

Research Experience   

If you’re interested in becoming an economics researcher and applying to PhD programs, it’s best to get research experience as soon as possible. Working as an RA is a great way to learn how to conduct research and get a better idea of whether it’s the right career path for you. Additionally, it can help you obtain a letter of recommendation for graduate school applications and improve your qualifications.  

All types of academic research can be enriching, but it’s beneficial to gain experience working directly with an economist. To find a position, you can reach out to professors whose work you find interesting or find an RA program at your school. Typical RA tasks may involve data collection and cleaning, as well as running analyses and creating charts to represent results. This is where coding skills become crucial; having taken math, statistics, and econometrics courses will also enable you to take on more responsibilities. 

You may also have the opportunity to conduct your own research, possibly under the supervision of a professor at your university. This research could be self-initiated or part of a course such as a thesis workshop. Self-directed research is a great opportunity to learn about all stages of the research process. It’s also an excellent opportunity to create a writing sample for graduate school applications. Ultimately, though, your motivation for conducting your own research project should be that you want to answer a question.  One thing economists have in common is a love of answering questions using data and theory. 

Research experience is also often obtained after completing an undergraduate or master’s degree. Taking on a full-time RA position before applying to PhD programs is very common and can make you a more competitive applicant. You may either get an RA job working for a professor or participate in a pre-doctoral RA program.  

Research assistant programs are more structured than positions with individual professors or projects, which could be helpful. Universities, parts of the government, think tanks, research organizations, and the Federal Reserve System are all good places to look for research assistant programs. To help you decide which opportunities are most desirable, you may want to ask potential employers : Where do people in this program tend to go afterward? Will I be working directly with an economist? How much of my time will be spent on academic research work? Will I be able to take classes as part of this program? Considering whether an economist will be able to evaluate your performance is an important factor for recommendation letters. The ability to take classes, either through tuition reimbursement or waivers, can also be an important benefit. 

The Research Analyst program here at the Federal Reserve Bank of New York is one example of these programs and you should check it out here . The Federal Reserve Board of Governors also has a large program, and many other regional Federal Reserve Banks have similar programs. In addition, the PREDOC website and the  NBER post listings of RA opportunities. J-PAL and IPA also tend to recruit RAs for economic development projects. Another source of RA opportunities is the @econ_ra account on X. 

Who Should Get a PhD in Economics?  

A PhD may not be for everyone, but it is for anyone—people of all genders, religions, ethnicities, races, and national origins have PhDs in economics. Many economists majored in economics, but others majored in math, physics, or chemistry. Because economics is such an integral part of policymaking, it is important that economists come from a wide range of backgrounds so policy can be stronger and more effective. The inclusion of differing perspectives helps ensure that the contribution of economists to work in public policy, academia, and beyond effectively serves the broadest range of society. 

• Coursework Appendix

Kasey Chatterji-Len is a research analyst in the Federal Reserve Bank of New York’s Research and Statistics Group.

Anna Kovner  is the director of Financial Stability Policy Research in the Bank’s Research and Statistics Group.

How to cite this post: Kasey Chatterji-Len and Anna Kovner, “Thinking of Pursuing a PhD in Economics? Info on Graduate School and Beyond,” Federal Reserve Bank of New York Liberty Street Economics , May 31, 2024, https://libertystreeteconomics.newyorkfed.org/2024/05/thinking-of-pursuing-a-phd-in-economics-info-on-graduate-school-and-beyond/.

You may also be interested in: AEA: Resources for Students

PREDOC: Guidance for Undergraduates

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Disclaimer The views expressed in this post are those of the author(s) and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System. Any errors or omissions are the responsibility of the author(s).

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1 in 3 applicants to this programme received an offer.

Data shown above is for entry in academic year 2021/22 (sources) .

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• FOI Request by S.H Crozier. June 2016.
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• Freedom of Information (FOI) . London School of Economics. October 2022.

The acceptance rate , or offer rate, represents the fraction of applicants who received an offer. Note that this will be generally lower the acceptances rates (acceptances divided by applicants) published by many other sources. This article explains it in more detail. The acceptances generally indicate the number of offer holders who accepted the offer and fulfilled its conditions. For some universities, however, it denotes the number of applicants who accepted the offer, regardless of whether they subsequently met its conditions.

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LSE Economics Phd Acceptance Rate

If you have been asking how you can get data on lse economics phd acceptance rate, you could look at this website. You will readily get information on lse economics phd acceptance rate for your needs when you take a look at this website. Starting from lse acceptance rate for international students and lse acceptance rate 2019, you can get all the information you need on Collegelearners now.

A PhD usually involves students engaged independently in original and significant research in a specific field or subject prior to the production of a publication-worthy thesis. By undertaking a PhD, you will become an expert, possibly an international expert, in your chosen field. A doctorate is the highest academic degree that can be awarded by a university. In Germany, studying for a doctorate means working intensively on a specific subject or research project over a long period of time. The duration of the doctorate also varies. Three to five years is typical. If you decide to take a doctorate, you can choose between different forms of study. Read more on LSE Economics Phd Acceptance Rate , London School of Economics Admission For International Students and London School of Economics Ranking

LSE Economics Phd Acceptance Rate Overview

Popularly known as LSE, London School of Economics and Political Science is one of the most renowned  UK universities for international students  that is ranked #27 in THE World University Rankings, 2020. As of 2019 admission data, the number of total UG applications received was more than  21,000  against  1,600  seats, which means over 1 3  applicants per place. This shows the high level of competition at the institute that observes an acceptance rate of merely  8.9%  for undergraduate applicants. 

However, the acceptance rate for graduate applicants is higher, i.e.,  25% . Looking at the acceptance rate of the institute we can infer that the seeking admission at LSE is highly competitive and the applications are evaluated critically before choosing the prospective students. 

The school has around  23  academic departments and  16  research centers that offer  admission to Undergraduate, Graduate, Graduate Research programs , Summer courses, Executive courses, Online certificate courses and Language programs to students. The population of international students at the institute includes over  148  countries around the world.

Some salient points regarding admission at London School of Economics and Political Science are as mentioned below.

• New students will be able to register online for the upcoming academic session from August, 2020; notification will be sent shortly.
• This will be followed with an on-campus enrolment event when students will arrive in London.
• Undergraduate applicants are supposed to apply via UCAS only.
• Decisions will be released on the UCAS portal within 12 weeks of the application acknowledgement receipt.
• Applications can be submitted online from mid-October in the year prior to entry and are considered on a rolling basis until spaces are available.
• Freshman students applying before May will get accommodation at the university halls.

London School Of Economics Admissions And Acceptance Rate

Admission to study at LSE is highly competitive and all  undergraduate  applications, including international applications, are made through UCAS. LSE had the 4th highest average entry qualification for undergraduates of any UK university in 2015-16, with new students averaging 537 UCAS points, equivalent to just below A*A*A*A in A-level grades.

The university gives offers of admission to 37.0% of its applicants, the 3rd lowest amongst the Russell Group.

Postgraduate students at the LSE are required to have a first or upper second Class UK honors degree, or its foreign equivalent for  master’s degrees , while direct entry to the MPhil/Ph.D. program requires the UK taught master’s with merit or foreign equivalent. London School of Economics Admission to the diploma requires a UK degree or an equivalent plus relevant experience.

The intake to applications ratio for postgraduate degree programs is very competitive; the MSc Financial Mathematics had a ratio of just over 4% in 2016.

Services for International Students

With around two-thirds of London School of Economics students arriving from outside the UK, it is among the most multicultural universities in the world. Because of this, the LSE is well placed to welcome, look after and offer the best advice and assistance possible for all new international starters.

The advice team at the Student Services Centre can provide information about all administrative services relating to courses and assessment, examinations, ceremonies and financial support.

London School of Economics Ranking

• 6th in the Times University Guide 2020
• 19th in the Guardian University Guide 2020
• 49th in the QS World University Rankings 2021
• 27th in the Times Higher Education World University Rankings 2020

LSE has one of the lowest dropout rates in the UK and following the 2014 Research Excellence Framework, the University had more “world-leading” research than any other UK university. It was the clear leader in the social sciences, with particularly good results in social work and social policy, and communication and media studies.

Accommodation

The London School of Economics guarantees all first-year students a place in University Halls, provided you apply by the May deadline. A wider range of accommodation is available through its partner institutions in the University of London, and the Accommodation Office can assist you in finding the most affordable and suitable housing during your stay.

The London School of Economics and Political Science is centrally located in London, just a short walk from Covent Garden and the Thames River. London is served by five international airports, all of which are less than an hour away via the city’s numerous train stations.

London’s vast selection of museums, galleries, parks and other attractions, many of them free of charge, ensure that LSE students will never grow bored in one of the world’s most dynamic cities. The location of the university also presents the opportunity for internships and career networking at the 100’s of world class organisations based in the city, and the university’s excellent reputation and relationships with these companies ensures plenty of chances to make your mark.

Application Deadlines

London School of Economics and Political Science follows separate application deadlines for undergraduate and graduate programs.

Undergraduate Application Deadlines

While submitting applications for undergraduate courses, students must abide by the UCAS deadlines. For full and equal consideration, all the applications must be submitted by January 15.

Graduate Application Deadlines

Only a few programs have set deadlines by which you should apply. Decisions are mostly considered on a rolling basis and programs close once all places are filled.

London School of Economics Admission For International Students

Admission process and documentation requirements for international applicants are different from domestic applicants.

LSE International Undergraduate Admissions

The undergraduate admission requirements are as follows:

• All official academic achievement certificates to date.
• Subject Combinations opted for
• Personal Statement
• Teachers Reference Letter
• Educational Circumstances Sheet.
• Minimum GPA of 3.3 on a scale of 4.
• English Language Proficiency Requirements
• Students applying for LAW, are supposed to appear for the LNAT exam.

LSE International Graduate Admissions

International students applying for graduate programs at LSE are required to fulfill the following requirements.

• All official academic achievement certificates till date.
• Completed Application form along with Application fee which is non-refundable.
• Applicants are supposed to submit 2 letters of references
• Statement of academic purpose.
• Curriculum Vitae.
• Minimum GPA of 3.3 in the Bachelorette program on a scale of 4.

LSE English Language Proficiency Requirements

International students whose first language is not English must exhibit proficiency in the English language by submitting scores of either of the tests mentioned below.

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Management PhD Students Awarded Prestigious LSE RISF Funding

Receiving the RISF award is a tremendous honour and opportunity.

Ziqi Zhong, PhD Candidate in Marketing

Two Department of Management PhD students, Ziqi Zhong , PhD Candidate in Marketing, and Susanne Klausing , PhD Candidate in Information Systems and Innovation, have been awarded funding for their research through the prestigious LSE Research and Impact Support Fund (RISF) scheme.   The scheme aims to fund world-class research and knowledge exchange activities by LSE academic, research and policy staff.   Ziqi’s project, titled: "Transcending Privacy Barriers: The Power of Eco-positioning in Enhancing AI Acceptance," examines the influence of eco-positioning on consumer privacy concerns within AI-enabled services.   On receiving the award, Ziqi said: “Receiving the RISF award is a tremendous honour and an opportunity to further my research on AI, privacy, and sustainability. I'm grateful for the support from the community."   Susanne's project is titled: "Practice What You Preach: The Relationship Between AI Narratives and Actions in S&P 500 Companies".

In response to the award, Susanne said: "I am extremely grateful to have received the RISF funding. This grant enables me to conduct a research project on the organizational narratives and application of AI, which we hope will prove beneficial to both academia and society as a whole."

Congratulations to Ziqi and Susanne. 

Monday 3 June 2024

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