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 6thesis 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)
23 Apr 2019
05:00 pm
Deadline to submit supporting documents
24 Apr 2019
Online Application Deadline (PST) -- LUMS UG Continuing Students
23 Apr 2019
05:00 pm
Deadline to submit supporting documents - LUMS UG Continuing Students
24 Apr 2019
Deadline to take GRE
23 Apr 2019
Admission decisions
01 Jul 2019 to 31 Jul 2019
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 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 Test Requirement for Fall 2018 Admissions


Foreign 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 $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 containing their supporting documents before sending it to the LUMS Admissions Office.

Interview performance


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

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.

It's important for us to get a complete and accurate picture of your academic history. Failure to list and submit transcripts from all institutions previously attended is considered to be a violation of academic ethics and may result in the cancellation of your admission or dismissal from the university.

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

Candidates holding only a Bachelor’s degree of less than four years’ duration will be required to produce an equivalence certificate of completion of 16 years of education issued by the HEC.

HEC is Pakistan’s Higher Education Commission, an independent, autonomous, and constitutionally established institution of primary funding, overseeing, regulating, and accrediting the higher education efforts in Pakistan.

HEC is now responsible for formulating higher education policy and quality assurance to meet the international standards as well as providing accrediting academic degrees, development of new institutions, and uplift of existing institutions in Pakistan.

The HEC has also facilitated in the development of higher educational system in the country with a primary purpose of upgrading the universities and colleges in the country to stand as the focal points of the high learning of education, research, and development.

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

Yes, financial aid is available on need basis.

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

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.

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

Applications submitted after the deadlines are not accepted.

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".

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.

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.

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.

Lahore University of Management Sciences has always welcomed international students. Hospitality has been embedded in the culture of Pakistan. You will not be a foreigner in Pakistan. You will experience both modernism and tradition as it is one of the safest and most stable countries in the region.

The medium of instructions is English and the environment is very supportive for international students.

In order to study at LUMS, foreign nationals must obtain a “Study Visa” from the Pakistani Embassy/Consulate working in their country. The Pakistani Embassy/Consulate will only issue a study visa for students’ stay at LUMS upon receipt of Higher Education Commission (HEC), Pakistan’s “No Objection Certificate” and Clearance from the Ministry of Interior, Pakistan.

For the issuance of Visa, students must submit the following documents to the LUMS Admissions Office through postal mail/ courier service by the stipulated deadline. These documents are mandatory for the processing of visa application:

I.Signed copy of Admission Offer Letter

II.Payment of Tuition/Hostel dues through a bank Draft (if any)

III.Completely filled “Student’s Information Sheet” for the issuance of NOC from the Higher Education Commission (HEC), Pakistan. 

a.       Note: No Objection Certificate (NOC) is issued by the Higher Education Commission (HEC) of Pakistan; which is a mandatory requirement for LUMS enrollment and Visa processing.

IV.Three (3) copies of completely filled and duly signed “Visa Form” (all pages) to get necessary visa clearance from the Ministry of Interior, Pakistan.

a.       Note: Please carefully read instructions given in the Visa application form and send it to LUMS through courier service by the due deadline. Form is available on the Ministry of Interior’s website (www.interior.gov.pk ). The form must be duly filled in with contacts/addresses of the applicant both in Home country and Pakistan.

V.Six (6) Original Photographs

VI.Complete copy of Passport

VII.Any other document required by the MOI for the issuance of Visa

VIII.Academic Records-Certified Photocopies of:

IX.Secondary School (O levels/ 10th Grade or any Equivalent Degree)

X.Post Secondary (A Levels/ IB/ American High School or any equivalent degree)

XI.All academic transcripts/certificates (Secondary, Post Secondary, Bachelors, Masters or any other qualification)

XII.Copy of certificate of provisional grade point average

XIII.Copy of English Proficiency Certificate

XIV.Nomination/Recommendation Letter from University

XV.Copy of Medical Certificate