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MS Economics

Overview

The Department of Economics at LUMS offers a two track MS Economics programme after 16 years of education. The MS Economics programme has been designed to set new standards in graduate level Economics education in Pakistan and to meet the growing need for well-trained economists in both the public and the private sectors. The programme provides strong grounding in theory and application, and is based upon a rigorous curriculum consisting of core and elective courses with the option of a Masters thesis. The Department of Economics offers two tracks: the MS Economics (1.5 year) and the MS Economics (2.5 year) programmes.

Note: The medium of instruction at LUMS is English for all degree programmes offered. Assessments are accepted in English only.

Structure

MS ECONOMICS (1.5 YEARS)

The LUMS MS Economics (1.5 year) degree programme is designed for those who have sufficient background knowledge in economics at the undergraduate level. The programme is worth 30 credits and it meets the MS requirements set by the Higher Education Commission (HEC), Islamabad. The MS Economics programme extends to three to four semesters, including the summer semester. Both the thesis and non-thesis options are available to students. They can take 12 credits each in the first and the second semesters. MS students with thesis are required to register in the third and fourth semesters by taking 6 thesis credits. MS students without thesis are required to take 6 credits elective courses in the third semester to complete the degree requirements. The maximum duration to complete the MS Economics requirements is 3 years. The degree progression guide for students enrolled in the MS Economics (1.5 year programme) is provided below:

MS ECONOMICS (1.5 YEAR) DEGREE PROGRESSION GUIDE

YEAR 1

 

First Semester, Fall (12 credits)

 

ECON 511 Microeconomic Analysis

4 credits

ECON 531 Econometrics and Research Methodology–1

4 credits

ECON 536 Topics in Mathematical Methods for Economists

4 credits

Second Semester, Spring (12 credits)

 

ECON 521 Macroeconomic Analysis

4 credits

ECON 532 Econometrics and Research Methodology–2

4 credits

Elective 1

4 credits

With MS Thesis:

 

Third Semester, Summer (6 credits)

 

MS Thesis

6 credits

YEAR 2

 

Fourth Semester, Fall

 

MS Thesis

Enroll for incomplete thesis

Without MS thesis:

Third Semester, Fall (6 credits)

 

Elective 2

3 credits

Elective 3

3 credits

Total

30 credits

Note: Elective courses include Trade and Development; Topics in Development Economics; Corporate Finance; Options, Swaps and Futures; Applied Microeconomics; Advanced Microeconomics; Advanced Macroeconomics; Growth Models; Philosophy and Economics, among others.

MS ECONOMICS (2.5 YEAR) PROGRAMME

The MS Economics (2.5 year) programme is designed for those who have a strong ability but have no prior background in economics or have deficiencies in economics, mathematics, statistics or econometrics.
Prior to the commencement of the MS Economics (1.5 year) programme, such students will be required to complete remedial courses at the undergraduate level ranging from 20 to 28 credits. The MS Economics Admissions Committee may give waiver for “Principles of Microeconomics” and “Principles of Macroeconomics” to candidates who have sufficient prior background in these courses. Students in this stream will complete the remedial courses in the first year and commence regular courses of the MS Economics programme in the second year. Grades assigned to remedial courses will be used to calculate the cumulative grade point average of the MS programme. The maximum duration to complete the MS Economics (2.5 year) programme requirements is 4 years. The degree progression guide is provided below.

MS ECONOMICS (2.5 YEAR PROGRAMME) DEGREE PROGRESSION GUIDE

YEAR 1

 

First Semester, Fall (16 credits)

 

ECON 111 Principles of Microeconomics (waiver may be granted)

4 credits

ECON 121 Principles of Macroeconomics (waiver may be granted)

4 credits

ECON 230Statistics and Data Analysis

4 credits

ECON 262 Mathematical Applications in Economics

4 credits

Second Semester, Spring (12 credits)

 

ECON 211Intermediate Microeconomics

4 credits

ECON 221Intermediate Macroeconomics

4 credits

ECON 330 Econometrics

4 credits

Total

28 credits

YEAR 2

 

Third Semester, Fall (12 credits)

 

ECON 511 Microeconomic Analysis

4 credits

ECON 531 Econometrics and Research Methodology–1

4 credits

ECON 536 Topics in Mathematical Methods for Economists

4 credits

Fourth Semester, Spring (12 credits)

 

ECON 521 Macroeconomic Analysis

4 credits

ECON 532 Econometrics and Research Methodology–2

4 credits

Elective 1

4 credits

With MS Thesis:

 

Fifth Semester, Summer (6 credits)

 

MS Thesis

6 credits

YEAR 3

 

Sixth Semester, Fall

 

MS Thesis

Enroll for thesis

Without MS Thesis:

 

Fifth Semester, Fall (6 credits)

 

Elective 2

3 credits

Elective 3

3 credits

Total

30 credits

Note: Elective courses include Trade and Development; Topics in Development Economics; Corporate Finance; Options, Swaps and Futures; Applied Microeconomics; Advanced Microeconomics; Advanced Macroeconomics; Growth Models; Philosophy and Economics, among others.

Important Dates

MS Economics

ActivityDate
Online Application Deadline (PST)
18 Apr 2018
05:00 pm
Deadline to submit supporting documents
19 Apr 2018
Online Application Deadline (PST) -- LUMS UG Continuing Students
18 Apr 2018
05:00 pm
Deadline to submit supporting documents - LUMS UG Continuing Students
19 Apr 2018
Deadline to take GRE
18 Apr 2018
Admission decisions
03 Jul 2018 to 31 Jul 2018
Notes: 

The University reserves the right to change dates and deadlines for admissions. Please keep informed of any changes by visiting www.lums.edu.pk periodically as well as the LUMS online application site.

Minimum Eligibility Criteria for Fall 2018 Admissions


Applicants must meet the minimum eligibility criteria in order to be considered for admission to the Graduate Programme. Meeting this criteria does not guarantee admission to the Graduate Programme.

Admission is purely merit-based and rests solely on the following criteria:

  • Academic background
  • Performance in the Admission Test
  • Completed application form along with all supporting documents
  • Letters of recommendation

Academic Requirements for Fall 2018 Admissions


As a minimum academic performance, all applicants must have 16 years of education leading to a degree recognized by the Higher Education Commission (HEC), Pakistan.

  • Sixteen years (16) of education resulting in a Masters or a four years Bachelor’s degree recognized by the Higher Education Commission (HEC), Pakistan
  • Bachelor’s degree from an international university recognized by the Higher Education Commission (HEC), Pakistan as equivalent to 16 years of education.

Applicants who have obtained their degrees from institutions that are not listed with the Higher Education Commission (HEC), Pakistan, will be required to obtain an equivalence certificate from HEC. For further information please visit: www.hec.gov.pk

Applicants completing their degree requirements after June 30th, 2018 will not be considered for Fall 2018 admissions.

Applicants with insufficient training in Economics, Mathematics, Statistics or Econometrics are strongly advised to apply for the MS Economics (2.5 year program). The final decision regarding eligibility for the MS Economics (1.5 year) or MS Economics (2.5 year)  Programme will be taken by the MS Admissions Committee.

Admission Eligibility Criteria for LUMS Undergraduate Continuing Students +

Continuing Economics Students

LUMS continuing students majoring in economics (class of 2018) are eligible for direct admission to MS Economics (1.5 year) subject to obtaining SCGPA of 3.00 or above in both Economics and Mathematics at the end of Fall Semester 2017. Other economics majors with a SCGPA of 3.0 or above in both economics and mathematics may also apply, but their admission decisions will be made by the MS Economics Admission Committee. 

Other majors with sufficient course work in Economics, Statistics, Mathematics and Econometrics are also encouraged to apply to MS Economics (1.5 year) program, and are exempt from GRE (General) test.

Other LUMS Majors

LUMS majors who do not have prior background in Economics, or they have major deficiencies in Economics, Mathematics, Statistics or Econometrics are encouraged to apply to MS Economics (2.5 year program). This stream will be particularly suited to LUMS majors in Social Science disciplines, Management Sciences, Pure Sciences & Engineering. This group will also be exempt from GRE (General) test.

 

Admission Eligibility Criteria for LUMS Graduated Students +

LUMS BSc Economics (Economics & Mathematics) majors from the class of 2017 or earlier classes are required to take GRE (General) test.
Similarly other LUMS majors from previous classes with insufficient background in Economics, Mathematics, Statistics and Econometrics are also encouraged to apply to MS Economics (2.5 year program) and are required to appear in GRE (General) test.

 


 

Admission Test Requirement for Fall 2018 Admissions


All applicants need to take the GRE (General).

Graduate Record Examination (GRE)

GRE (General) is offered as a computer adaptive test worldwide. GRE (General) test taken on or after April 18, 2013 will be considered valid. Applicants need to take the GRE (General) through the  Educational Testing Service (ETS), USA in order to be considered for admission. The deadline to take GRE (General) is April 18, 2018. GRE (General) scores must be reported to LUMS officially from the testing agency. The college code for reporting GRE (General) scores to LUMS is 0679.

Supporting Documents Requirement for Fall 2018 Admissions

Applicants must complete and submit their online application form on or before April 18, 2018; 5:00 pm (PST). The application form can be accessed online at http://admissions.lums.edu.pk. In addition, all applicants are required to submit all supporting documents to the LUMS Admissions Office on or before April 19, 2018.

Application Processing Fee

  • The application processing fee of  Rs. 1,000

Payment Procedure

After the successful submission of the online application form through the LUMS Online account on or before the application submission deadline, applicants will be able to print a system generated Application Processing and LUMS Test Registration (if applicable) Fee payment voucher.  For further details regarding Fee payment options  Click here

Proof of Payment

A stamped copy of the payment voucher or a confirmation email of an online banking transaction constitutes proof of payment. Applicants are required to send a copy of payment proof along with all other required supporting documents as ONE package on or before the stipulated deadline.

Applicants must print and paste the “Mailing label” on the envelope before sending it to the LUMS Office of Admissions. Applications or documents received after the stipulated deadline will not be processed.

Interview performance

Short listed applicants may be requested to appear for an interview.

FAQs

What are the admission requirements for MS Programme?

Please visit the following link for the minimum eligibility criteria; https://lums.edu.pk/graduate-admissions

Do you require any test for admission to the MS Programme?

Please visit the following link for admission test details; https://admission.lums.edu.pk/testing

How can I submit the application processing fee?

After the successful submission of the online application form you will be able to print a system generated Application Processing Fee payment voucher. Please print the fee voucher for making payments at Allied Bank Branches throughout Pakistan. The voucher can be paid:

  • In cash, the next day by presenting the payment voucher along with the requisite amount at any Allied Bank branch throughout Pakistan.

I have received my transcripts for Bachelor's/Master's but I do not have the degree. What should I do?

You should submit all your transcripts latest by the document submission deadline. Copy of your degree can be submitted later.

How do I inform about a change in the online application?

It is highly recommended to fill out the application form carefully. No changes can be made after the submission of online application. In sheer need an applicant can send the updated information to helpdeskao@lums.edu.pk with the specific header "Change in Application Form".

Is financial aid available for MS students?

Yes, financial aid is available on need basis.

How and when do I apply for financial aid?

You should apply for financial aid while submitting your online application. The application form for the financial assistance is within the online admission application.

Is it possible to apply after the deadline?

Applications submitted after the deadline will not be accepted.

Whom should I ask to write a letter of recommendation on my behalf?

The recommendation letters can be from a faculty member who has had a reasonable opportunity to evaluate you academically.

Are there any specific quotas in admission?

Admission in LUMS MS Programme is purely merit based and there are no quotas.

 

Can my admission be deferred?

In truly exceptional circumstances the Graduate Programme Committee may grant a deferral. All requests should be made in writing and will be reviewed on a case to case basis.

I have not yet received any confirmation email after the submission of my online application. What should I do?

You should recheck the completion and proper submission of your online application.

How will you notify me regarding a decision on my application?

Final Admission decision will be communicated through an official letter; however, you can check your application status through your online account. Regretfully, we are unable to provide information regarding your application status by telephone or e-mail.

May I appeal my admission decision or ask to have the decision explained?

The admission process is a well deliberated and thorough process. Each year we receive a large number of outstanding applications. Unfortunately, all of them do not qualify because of the limited number of available seats. The decision regarding admission is final.

If your application is unsuccessful you will also receive a letter informing you of this. Due to the volume of applications the University receive, it is not possible to provide feedback on unsuccessful applications.

Overview
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Admission Criteria
Fee Structure
Important Dates
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