Economics and Mathematics (Joint Major)

Overview

The Economics and Mathematics (Joint Major) provide a strong base to those students who intends to pursue further studies at the graduate level in the field of Economics. Students seeking admission to graduate programme have a higher chance of getting admitted to top ranked schools if they have taken mathematics courses like calculus, analysis and linear algebra during their undergraduate degree programme.

Structure

Graduation requirements: 130 credit hours

University Core: 8 credit hours

University Distribution: 21-28 credit hours (7 courses)

Economics Core Courses: 28 credit hours (7 courses)

Economics and Mathematics- Table 1

CODE

COURSE TITLE

CREDITS

ECON 111

Principle of Microeconomics

4

ECON 121

Principle of Microeconomics

4

ECON 211

Intermediate Microeconomics

4

ECON 221

Intermediate Microeconomics

4

ECON 230

Statistics and Data Analysis

4

Or

 

 

MATH 230 +

MATH 231

Probability + Statistics

4

ECON 330

Econometrics

4

ECON 411

Advanced Microeconomics

4

Or

 

 

ECON 421

Advanced Microeconomics

4

 

Total

24

 

Note:

ECON 230 Statistics and Data Analysis is equivalent to Math 231 Statistics, only if Math 230 Probability has been taken previously. ECON 230 Statistics and Data Analysis is equivalent to DISC 201 Statistics or DISC 203 Probability and Statistics.

 

As Math 230 Probability is a core for the Economics and Mathematics major, students in the Economics and Mathematics major are recommended to take Math 231 Statistics.

Economics Elective Courses: 8 credit hours (2 courses)

Two or more courses with an ECON code will be required beyond those listed as core economics courses. Of these, at least one must be at the 400 level (senior requirement). The senior requirement cannot be fulfilled by the 400-level course taken as part of the core or by a senior project or independent study.

 

Note:

Transfer students or the students who go on an exchange programme and fall short by 1 or 2 credits in their economics core or elective courses will be allowed to take 1 or 2 credit Independent Study to fulfill graduation requirements.

 

Suggested Economics Elective Courses:

It is recommended that students in the Economics and Mathematics major who wish to go on to graduate programmes in economics considered the following courses for their economic elective courses:

Economics and Mathematics – Table 2

CODE

COURSE TILTLE

CREDITS

ECON 233

Introduction to Game Theory

4

ECON 435

Advanced Game Theory

4

ECON 411

Advanced Microeconomics

4

ECON 421

Advanced Microeconomics

4

ECON 425

Applied Microeconomics

4

ECON 423

Growth Theories

4

ECON 414

Applied Microeconomics

4

 

Note:

ECON 411/421 may count as one elective ONLY. If the student takes both courses. In such a case, one will count in the core and the other as an elective. A single course CANNOT count both towards the core and Elective requirement.

Important Dates

Undergraduate Programmes - (SDSB / MGSHSS / SBASSE / SAHSOL)

ActivityDate
Deadline to take SAT (First Round Offers)
02 Dec 2017
Online Application Deadline (PST)
16 Jan 2018
05:00 pm
Deadline to submit supporting documents
17 Jan 2018
SBASSE Subject Test administration
11 Feb 2018
Deadline to take SAT (Second Round Offers)
10 Mar 2018
Admission decisions
01 Apr 2018 to 30 Jun 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
(Classes Commencing August 2018)

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

Students are selected for admission to LUMS Undergraduate Programmes based on the following factors:

  1. Academic Background
  2. Performance in the Admission Test
  3. Submission of a completed application form and supporting documents
  4. Interview (if called)

Admission in a specific school is based on merit and the availability of seats. 

 

 

Academic Requirements for Fall 2018 Admissions
(Classes Commencing August 2018)

 

The University is keen to attract students who are not only academically competent but also have the potential to contribute to the learning environment of LUMS.

Following are the minimum academic requirements for applicants applying to the Undergraduate Programme:

 

Applicants who have successfully completed FA/ICS/ICOM/FSc/A’ Levels/High School Diploma or International Baccalaureate (IB) are eligible to apply for admission if they fulfill one of the following academic qualifications:

  • Successful completion of Matric (70% marks or above) & FA (65% marks or above)/FSc/ ICS/ICOM (70% marks or above)
  • O’ Levels* results (in at least 8 subjects) with an average grade of at least ‘B’ in all subjects attempted; and A’ Levels in at least 3 principal subjects1 with at least 2 Bs and 1 C grade. No credit will be given for Advanced Subsidiary and General Paper.
  • American High School Diploma (HSD) 70% or above/Grade point average of B or above
  • International Baccalaureate (IB) at least 28 out of 45 points
  • Combination of the above
  • Any other equivalent qualification (minimum acceptable scores will be determined by the Admissions Committee)

If shortlisted for admission, applicants will be given a conditional offer. To join LUMS in Fall, applicants must subsequently meet all the stipulated conditions specified by the Admissions Committee by August 2018.

Note:

Candidates who have already completed their A' Levels (have taken the exam of minimum three A’ level principal subjects1) and do not meet the minimum grades requirement (specified in subsection 1) must improve their grades in order to be eligible for admission. A' Levels Exams are held in November and June. To be eligible for the admission in 2018, applicants must improve their A' Level grades in November 20172. Applicants planning to improve their grades by taking June 2018 exams are not eligible for the Fall 2018 session.

Applicants admitted to LUMS and subsequently require HEC attestation of their UG degree must meet the conditions stipulated by the Higher Education Commission (HEC), Pakistan to get their Undergraduate degree attested. Details are available at the following link: 

http://hec.gov.pk/english/services/students/Degree%20Attestation%20System/Pages/Degree-Attestation.aspx

________________________________________________________________________

1Principal subjects (Full credit courses. Details can be checked with the British Council)

2Applicants taking their A’ levels or AS level exam in November 2017 are required to submit the final result within three days of its announcement; however, they must provide this information through online application form and by submitting a copy of the “Statement of entry “along with all other supporting documents.

* Minimum subjects requirement for O’levels may vary regionally and can be checked by visiting the following link:  http://www.ibcc.edu.pk/equivalence.php.

 

Applicants who have not taken the final exams of their FA/ICS/ICOM/FSc/A’ Levels (in three principal subjects1)/High School Diploma or International Baccalaureate (IB) as yet and are expecting their final results by August 2018 are eligible to apply for admission if they fulfill one of the following academic qualifications:

  •   Successful completion of Matric (with at least 70% marks) and FA (first year) (65% marks or above)/FSc/ICS/ICOM (first year) (70% marks or above)
  •  O’ Levels* results (in at least 8 subjects) with an average grade of at least ‘B’ in all subjects attempted;
  •  American High School Diploma (HSD) (first year) (70% or above/Grade point average of or above)
  •  International Baccalaureate (IB) (first year) at least 28 out of 45 points
  •   Combination of the above
  •   Any other equivalent qualification (minimum acceptable scores will be determined by the Admissions Committee)

If shortlisted for admission, applicants will be given a conditional offer. To join LUMS in Fall, along with other requirements specified by the Admissions Committee; applicants must subsequently meet one of the following academic conditions by August 2018:

  • Successful completion of FA (65% marks or above)/FSc/ICS/ICOM (70% marks or above)
  • A’ Levels in at least 3 principal subjects1 with at least 2 Bs and 1 C grade. No credit will be given for Advanced Subsidiary and General Paper.
  • American High School Diploma (minimum required grades for the 12th Grade HSD will be decided by the Admissions Committee)
  •  International Baccalaureate at least 28 out of 45 points

* Candidates who have either completed or are in the last year of completion of their education which does not lead to Matric/FA/ICS/ICOM/FSc. will be required to get an equivalence certificate from the Inter Board Committee of Chairmen (IBCC), Islamabad, Pakistan. For further information, please visit the following link http://www.ibcc.edu.pk. Applicants who have applied for equivalence certificate from Inter Board Committee of Chairmen (IBCC), Islamabad, Pakistan and have not received the certificate before the application submission deadline should submit it as soon as they receive it.

Applicants admitted to LUMS and subsequently require HEC attestation of their UG degree must meet the conditions stipulated by the Higher Education Commission (HEC), Pakistan to get their Undergraduate degree attested. Details are available at the following link: 

http://hec.gov.pk/english/services/students/Degree%20Attestation%20System/Pages/Degree-Attestation.aspx

________________________________________________________________________

1 Principal subjects (Full credit courses. Details can be checked with the British Council)

* Minimum subjects requirement for O’levels may vary regionally and can be checked by visiting the following link:  http://www.ibcc.edu.pk/equivalence.php.

 

Students may apply for admission to multiple schools through a single application. Applicants are required to mention their major preference(s) for BS Programme of SBASSE & BA/BSc.(Honours) Programme of MGSHSS & SDSB through the LUMS Online Admission Application form.

Students are admitted to a specific school from the beginning of the programme and are not assigned a major at the time of admission except those admitted to the BA-LL.B Programme in SAHSOL. Admission in a specific school is based on merit and the availability of seats.

Allocation of a preferred major cannot be guaranteed at the time of admission. Allocation of a major will be done according to the school’s policy and mainly determined by the students’ preference(s), their academic performance at LUMS and, in the case of MGSHSS, the capacity constraint in the subject area.

Students may request for a change in their programme/school at the end of first year at LUMS subject to academic performance and availability of space. However, such requests will be considered on a case to case basis by the concerned department.

 

  • Applicants who are admitted to, and join the LUMS UG programme having an assessed high need of financial assistance will be considered for the refund of paid SAT registration fee of one attempt.
  • Application processing fee waiver is available for applicants with high financial need. Decision to grant a fee waiver will be taken after evaluation.

Admission Test Requirement for Fall 2018 Admissions
(Classes Commencing August 2018)

New Redesigned SAT (SAT I) is mandatory for all applicants applying to the Suleman Dawood School of Business (SDSB), Mushtaq Ahmad Gurmani School of Humanities & Social Sciences (MGSHSS), Shaikh Ahmad Hassan School of Law (SAHSOL) for Fall 2017. The deadline to take SAT for Fall 2017 is March 10, 2018Click here to register for the New Redesigned SAT (SAT I). The Essay component of the New Redesigned SAT will be required for the Fall 2017 applications.

  • Applicants taking SAT (with Essay) on or before December 2, 2017 and not planning to retake it in March 2018 will be considered for the First Round Offers.
  • Applicants planning to take SAT (with Essay) on March 10, 2018 will be considered for the Second Round Offers.

In order for your application to be considered complete and for LUMS to make an admission decision, have your official test scores submitted directly to LUMS by the testing agency (ETS) on your behalf. The College code for reporting SAT scores to LUMS is 0513.

Important Note:

  1. SAT taken after March 2018 will not be considered for Fall 2018 session.
  2. SAT scores before March 2016 will not be considered for Fall 2018 admissions.
  3. All applicants must attempt the Essay component of the New SAT for Fall 2018 admissions. SAT taken without Essay will not be considered for evaluation.
  4. While registering for SAT, applicants must use the same name which is mentioned on the LUMS Admission application and other academic credentials. Using a different name may prevent your scores from matching the rest of your application in our database.
  5. Applicants are required to report test scores of all attempts to the University by submitting a copy of score report(s).Best score of a single attempt will be considered for application evaluation.
  6. Applicants who join the LUMS UG Programme and have an assessed high financial need will have their SAT registration fee refunded for one test attempt.

Supporting Documents Requirement for Fall 20187 Admissions
(Classes Commencing August 2018)
 

Applicants must submit complete online application form on or before January 16, 2018 5:00 pm (Pakistan StandardTime).

The deadline to submit all supporting documents along with the proof of payment of Admission Application Processing Fee in ONE Package is January 17, 2018; 5:00 pm (Pakistan Standard Time).

Application Processing Fee

  • The application processing fee of $71

Payment Procedure

International applicants are required to make a payment for the Application Processing Fee through a Bank Draft drawn in favour of Lahore University of Management Sciences. For further details regarding Fee payment options Click here

Proof of Payment

Applicants are required to send original Bank Draft along with all other required 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.

 

 

A merit ranking for interview short listing is established on academic performance and SAT scores of the candidates. Only short-listed candidates are called for interviews.

FAQs

A Foreign national who is not of Pakistani origin and does not have a Pakistani passport/NICOP/CNIC is eligible to apply to LUMS under its International Student Programme. Applicants holding dual nationality out of which one is Pakistani are not eligible to apply through LUMS International Student Programme.

Admission to the LUMS Undergraduate Programme is highly competitive and the University is able to offer admission to only a small fraction of applicants.

For the programmes offered by the MGSHSS/SDSB/SBASSE/SAHSOL, submit an online admission application through the following link: https://admissions.lums.edu.pk

No, applicants are evaluated on their academic grades regardless of the fact whether someone has taken the final exam through a school/college or privately.

No. Attending the first semester at LUMS is compulsory and deferment is not an option for undergraduates.

All admission decisions taken by the University are final. During admission evaluation process, some applicants are admitted, some are placed on a waiting list and the remaining applicants are denied admission. Acceptances are offered on a rolling basis between April to July. For this reason, your admission decision may arrive at a different time from a friend or classmate.

No, by default the LUMS online application system allows you to apply for the SDSB, MGSHSS, SBASSE and SAHSOL simultaneously.

Yes, by default the LUMS online application system allows you to simultaneously apply for the SDSB, MGSHSS, SBASSE and SAHSOL.

Applicants can mention their major preference(s) for BS Programme of SBASSE, BA/BSc. (Honours) Programme of SDSB, MGSHSS and BA-LL.B of SAHSOL through the online admission application form.

Applications are evaluated according to the preferences mentioned by applicants in this section. Based on the evaluation of each school, applicants are offered the highest preference they qualify for. This means that if an applicant qualifies for more than one school, one is sent an offer from the school of his highest qualified preference. Therefore, it is highly suggested to select school preferences very carefully.

Yes, an applicant can apply for admission if (s)he has appeared in retakes of November 2017, for the application of year 2018.

Applicants appearing for the November 2017 retakes must check the result awaiting option in the online application. Applicants must inform Admission Office, the estimated time period in which the result of any retake exam will be announced.

IBCC converts foreign grades into Pakistani marks at The Secondary School Certificate (SSC) / The Higher Secondary Certificate (HSSC) level. For further information, please visit the following link; www.ibcc.edu.pk

Yes, you are required to obtain equivalence certificate from IBCC. Please visit the following link in order to get further information; http://www.ibcc.edu.pk

Applicants must provide attested copies of original documents issued officially. Attestation of these documents is mandatory by concerned authority (School/College).

Documents sent to the Admissions Office cannot be returned as they are for administrative purposes. Please make sure to keep a copy for your own use before sending the documents to our office.

Yes, academic records from international universities if not in English must be accompanied by an official English translation along with other supporting documents.

Minimum two Teacher Evaluations are required.

The recommendation form(s) should be from teacher(s) of your last institute. Recommendations from school/ college counselor(s) are not acceptable.

No. Admissions to LUMS takes place once a year and freshmen are admitted to the Fall semester only.

Since the number of students who accept our first round of admission offers varies each year, a small number of applicants stay on our wait list and in case space becomes available after the first round, students on the wait list are offered a place in the second round.

The number of candidates placed on the waitlist fluctuates from year to year, depending on the size and quality of the applicant pool.

The New Redesigned SAT Reasoning Test (SAT I) is mandatory for all applicants applying to the Suleman Dawood School of Business (SDSB), Mushtaq Ahmad Gurmani School of Humanities & Social Sciences (MGSHSS), Shaikh Ahmad Hassan School of Law (SAHSOL). The Essay component of the New Redesigned SAT will be required for the Fall 2018 applications. SAT I Registration can be done online through the following link: https://www.collegeboard.org.

International applicants applying to the Syed Babar Ali School of Science and Engineering (SBASSE) are required to take the following two admissions tests in order to be considered for admission:

  1. New Redesigned SAT Reasoning Test (SAT I); and
  2. At least 3 of the 4 SAT II subjects listed below;
  • Biology-M
  • Chemistry
  • Mathematics II-C
  • Physics

The deadline to take New Redesigned SAT I/SAT II for Fall 2018 is March 10, 2018.

Applicants need to take all required SAT tests through College Board, USA latest by March 10, 2018 in order to be considered for admission. SAT scores must be reported to LUMS officially from the testing agency. The college code for reporting SAT scores to LUMS is 0513.

SAT Registration can be done online through the following link: https://www.collegeboard.org

Note: The Essay component of the New Redesigned SAT will be required for the Fall 2018 applications.

If you have not received SAT score report as yet then submit a printed copy of your online test scores.

Applicants are required to report test scores of all attempts to the University by submitting a copy of score report(s). Best score of a single attempt will be considered for application evaluation.

Application submission deadline for all UG applicants for the admission of Fall 2018 is January 16, 2018 5:00 pm (Pakistan Standard time).

No, there is no minimum score required for SAT I/SAT II.

Best score of a single attempt will be considered for application evaluation.

The International applicants are required to pay their fees in Pakistani Rupees through a bank draft made in favor of Lahore University of Management Sciences to be issued by their home country’s bank as per amount mentioned on their Tuition/Hostel Fees Vouchers. No other mode of payment will be acceptable. 

No. LUMS does not accept results of the ACT.

Applications submitted after the deadlines are not accepted.

Yes, financial aid is available on need basis. Please visit the mentioned link for further information  https://financial-aid.lums.edu.pk/

 

It is highly recommended to fill out the application form carefully. Changes cannot 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".

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.

A mailing label has especially been designed for your convenience as it bears not only your name, tracking/application ID, schools applied to but also a complete address for correspondence. After the successful submission of your application form you will be able to print the mailing label. The LUMS Admissions Office will only accept a package that contains the “Mailing Label”.

 

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

ADMISSIONS CALENDAR
  • 02 Dec 2017

    02 Dec 2017
    UG Programme - Deadline to take SAT and/or SAT Subject Tests (1st Round Offers)
  • 16 Jan 2018

    16 Jan 2018
    UG Programme - Online Application Submission Deadline
  • 11 Feb 2018

    11 Feb 2018
    UG Programme - LUMS SBASSE UG Subject Test Administration
  • 10 Mar 2018

    10 Mar 2018
    UG Programme - Deadline to take SAT and/or SAT Subject Tests (2nd Round Offers)

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