BS Economics and Mathematics

Overview

The Economics and Mathematics joint major provides a strong base to those students who intend to pursue further studies at the graduate level in the field of Economics. Students seeking admission to a 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.

The major will now also be housed at Syed Babar Ali School of Science and Engineering (SBASSE), in addition to the currently offered programme BSc Economics and Mathematics by Mushtaq Ahmed Gurmani School of Humanities and Social Sciences (MGSHSS). Students graduate with a BS or BSc (Hons) degree respectively. The major requirements, major cores and electives are identical across both schools; however, school requirements differ.

In particular, students pursuing a BSc (Hons) in Economics and Mathematics must complete the university core and distribution in addition to the major core, elective and free elective requirements, while those pursuing a BS in Economics and Mathematics from the SBASSE must additionally complete the SBASSE school core requirements. The SBASSE sophomore students can opt for a major change whereas students from the rest of the schools can apply for an inter school transfer.

For the award of specialization medal at the time of graduation, students of both schools will be in competition for the major in Economics & Mathematics (Joint Major) Gold Medal.

Structure

Entry Requirement for the Economics and Mathematics Joint Major:

A student wishing to major in Economics and Mathematics must have the following at the time of applying for this major:

A CGPA of 3.3 or above.
A minimum of B in Calculus-I and Linear Algebra with Differential Equations.

The maximum number of students accepted into this major each year will be 50 (inclusive of both the schools).

Graduation Requirements: 130 credit hours

Kindly refer to the Undergraduate Programme Policies and Regulations (Policy 3.2)

University Core: 8 credit hours

Kindly refer to the Undergraduate Programme Policies and Regulations (Policy 3.3).

Students enrolled in the BS program must complete the SSE Core (34 credit hours) and take 3 out-group courses as part of their University Distribution. In-group requirements are taken care of by the SSE Core. Kindly refer to the Undergraduate Programme Policies and Regulations (Policy 3.3).

Major Core Courses:

Economics Core Courses:

The following courses form the economic core for the major.

CODE	COURSE TITLE	CREDITS
ECON 111	Principles of Microeconomics	4
ECON 121	Principles of Macroeconomics	4
ECON 211	Intermediate Microeconomics	4
ECON 221	Intermediate Macroeconomics	4
ECON 330	Econometrics	4
ECON 411	Advanced Microeconomics	4
OR
ECON 421	Advanced Macroeconomics	4
Total		24

Mathematics Core Courses:

The following math courses form the mathematics core of the major.

CODE	COURSE TITLE	CREDITS
MATH 101	Calculus-I	3
MATH 102	Calculus-II	3
MATH 120	Linear Algebra with Differential Equations	3
MATH 203	Introduction to Analysis-I	4

In addition to the above course, students in the SSE stream must take MATH 231- Statistics in place of ECON 230- Statistics and Data Analysis.

The following table provides a guide to where courses will fall for students in different streams.

Course	MGSHSS Stream	SSE Stream
ECON 111 Principles of Microeconomics	Major Core	Major Core
ECON 121 Principles of Macroeconomics	Major Core	Major Core
ECON 211 Intermediate Microeconomics	Major Core	Major Core
ECON 221 Intermediate Macroeconomics	Major Core	Major Core
ECON 330 Econometrics	Major Core	Major Core
ECON 411 Advanced Microeconomics or	Major Core	Major Core
ECON 421 Advanced Macroeconomics	Major Core	Major Core
ECON 421 Advanced Macroeconomics
MATH 101 Calculus I	Major Core	SSE Core
MATH 102 Calculus II	Major Core	Major Core
MATH 120 Linear Algebra with	Major Core	SSE Core
Differential Equations	Major Core	SSE Core
Differential Equations
MATH 203 Introduction to Analysis I	Major Core	Major Core
MATH 230 Probability	Major Core	SSE Core
MATH 231 Statistics OR	Major Core – May take	Major Core – Must take
ECON 230 Statistics and Data Analysis	either course.	MATH 231

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 fulfil 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, consider the following courses for their economics elective courses:

CODE	COURSE TITLE	CREDITS
ECON 233	Introduction to Game Theory	4
ECON 435	Advanced Game Theory	4
ECON 411	Advanced Microeconomics	4
ECON 421	Advanced Macroeconomics	4
ECON 425	Applied Macroeconomics	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.

Mathematics Elective Courses: 6-8 credit hours (2 courses)

In addition to the core courses, students majoring in Economics and Mathematics will need to take 2-3 elective courses in the discipline of Mathematics. Both of these courses should be at least 300 level. For a complete list of elective Mathematics courses please refer to the course lists given under the Mathematics Major.

Free Electives: Can be taken from any specialization to complete 130 credit hours

Sample Four Year Plan for BS- Economics and Mathematics

Graduation Requirement

130 Credit Hours

University Core

8 Credit Hours (3 Courses)

University Distribution

In Group
Out-Group
Total

12-16 Credit Hours (4 Courses - automatically covered by the SSE core)
9-12 Credit Hours (3 Courses)
21-28 Credit Hours (7 Courses)

SSE core

34 Credit hours

Major Requirement
Economics Cores
Economics Electives
Mathematics Cores
Mathematics Electives
Total

24 credit hours (6 courses)

8 Credit Hours (2 Courses)

11 Credit Hours

6-8 Credit Hours (2-3 Courses)

49-51 credit hours (16-17 courses)

Free Electives*

Courses can be taken from any area to complete 130 Credit Hours

CODE	COURSE TITLE	CREDITS	CODE	COURSE TITLE	CREDITS
	Freshmen Fall			Freshmen Spring
MATH 101	Calculus-I	3	SS 101/SS 102	Islamic Studies/ Pakistan Studies	4
CHEM 101	Principles of Chemistry	3	Math 120	Linear Algebra with Differential Equations	3
PHY 101	Mechanics	4	BIO 100	Experimental Biology Laboratory	1
CS 100	Computational Problem Solving	3	BIO 101	Introductory Biology	3
EE 100	Engineering Laboratory	1	CHEM 100	Experimental Chemistry Laboratory	1
SS 100	Writing and Communication	4	ECON 111	Microeconomics**/	4
	Total	18		Total	16
	Sophomore Fall			Sophomore Spring
PHY 100	Experimental Physics Laboratory	2	PHY 104	Modern Physics	4
SSE Elective		3	MATH 230	Probability	3
ECON 121	Principles of Macroeconomics	4	ECON 221	Intermediate Macroeconomics	4
ECON 211	Intermediate Microeconomics	4	MATH 203	Introduction to Analysis I	4
MATH 102	Calculus II	3	ECON XXX	Economics Elective 200/300+ level	4
	Total	16		Total	19
	Junior Fall			Junior Spring
MATH 231	Statistics	4	MATH 210	Introduction to Differential Equations	3
ECON 330	Econometrics	4	ECON 411	Advanced Microeconomics	4
MATH XXX	Mathematics Elective 300/400 level	3/4		University Distribution	3/4
	University Distribution	3/4		Free Electives	3/4
SS 101/102	Islamic Studies/Pakistan Studies	4		Free Electives	3/4
	Total	18-20		Total	16-23

Important Dates

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

Activity	Date
Deadline to take SAT (with Essay) and/or SAT Subject Test (First Round Offers)	07 Dec 2019
Online Application Deadline (PST)	30 Jan 2020	05:00 pm
Deadline to submit supporting documents	31 Jan 2020
Deadline to take ACT (with Essay) (First Round Offers)	08 Feb 2020
LUMS SBASSE Subject Test	16 Feb 2020
Deadline to take SAT (with Essay) and/or SAT Subject Test (Second Round Offers)	14 Mar 2020
Deadline to take ACT (with Essay) (Second Round Offers)	04 Apr 2020
Admission decisions	22 Apr 2020 to 30 Jul 2020

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 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:

Academic Background
Performance in the Admission Test
Submission of a completed application form and supporting documents
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 with complete Post-Secondary Degree +

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 with 70% marks or above & FSc with 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. The principal subjects for SBASSE are Biology, Chemistry, Computing/Computer Science, Mathematics, Further Mathematics and Physics. (Any deviations from this list would be examined on a case to case basis and the decision of the Admissions Committee would be final). No credit will be given for Advanced Subsidiary and General Paper.
American High School Diploma (HSD) with 70% or above/Grade point average of B or above
International Baccalaureate (IB) with 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 above) 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 Fall 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 with incomplete Post-Secondary Degree +

Applicants who have not taken the final exams of their 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 or above & FSc (Part-1) with 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) with 70% or above/Grade point average of B 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 FSc (70% marks or above)
A’ Levels in at least 3 principal subjects1 with at least 2 Bs and 1 C grade. The principal subjects for SBASSE are Biology, Chemistry, Computing/Computer Science, Mathematics, Further Mathematics and Physics. 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

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.

Major Preference(s) +

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.

Students interested in the Undergraduate Programme of SBASSE in Electrical Engineering and Chemical Engineering are required to have taken Mathematics, Physics and Chemistry in FSc/A’ levels.

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

Local applicants:

Applicants residing in Pakistan applying to the Syed Babar Ali School of Science and Engineering (SBASSE) undergraduate programmes are required to take the following two (2) Admission tests in order to be considered for Fall 2018 admission.

New SAT (with Essay); and
LUMS SBASSE Subject Test

The deadline to take SAT (with Essay) for Fall 2018 is March 10, 2018. SAT Registration can be done online through the following link: https://www.collegeboard.org

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.

LUMS SBASSE Subject Test
In addition to New SAT (with Essay), subject knowledge in the area of Biology, Physics, Advanced Mathematics & Chemistry will also be evaluated through this test. Questions are designed to explore knowledge and skills acquired over a period of time. The test is designed to compare candidates with different academic backgrounds.

Difficulty Level: Admission Test is designed to determine the intellectual abilities of test takers. Questions will be at a difficulty level appropriate for students in the final year of A’ Levels/FSc./IB/HSD. They are typically Multiple Choice Questions (MCQs), similar to the pattern used in SAT. LUMS SBASSE Subject Test is approximately two (2) hours long. Calculators are not allowed during Admission Test.

LUMS reserves the right to use any test pattern that best meets its admission’s objectives. Instead of preparing for the test, we recommend getting a deep knowledge of fundamental principles and focusing on a good understanding of your school subjects.

The SBASSE Subject Test Registration can be done through the LUMS online application system at: http://admissions.lums.edu.pk on or before January 30, 2018, 5:00 pm (Pakistan Standard Time).

Note: The SBASSE Admission Test for admission to the Fall 2018 semester will be held ONLY ONCE on February 18, 2018.

Overseas Applicants:

Applicants residing outside Pakistan and currently studying or having completed their last year of schooling abroad are required to submit official results of the New SAT (with Essay) and at least 3 of the 4 SAT subject tests listed below:

Biology-M
Chemistry
Mathematics II-C
Physics

Deadline to take SAT (with Essay) and SAT Subject Tests is March 10, 2018. SAT Registration can be done online through the following link: https://www.collegeboard.org

Applicants taking SAT (with Essay) and/or SAT Subject Tests 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) and/or SAT Subject Tests on March 10, 2018 will be considered for the Second Round Offers.

Note:

The Essay component of the New SAT is mandatory for all UG applicants for Fall 2018 admissions. SAT taken without Essay will not be considered for evaluation.
Official test scores of all applicants must be received by LUMS Admissions Office directly from the testing agency i.e. Educational Testing Service (ETS), USA. Applicants must request ETS to send a direct report to LUMS. The College code for reporting SAT scores to LUMS is 0513.
SAT and/or SAT Subject Tests scores before March 2016 will not be considered for Fall 2018 admissions.
SAT (with Essay) and SAT Subject Tests taken after March 2018 will not be considered valid for Fall 2018 admissions.

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.

Important Note +

LUMS will only accept scores of the New SAT for the Undergraduate admissions of Fall 2018.
SAT Subject test(s) taken more than two years before the admission deadline will not be considered valid.
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.
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.

Supporting Documents Requirement for Fall 2018 Admissions

Applicants must submit complete online application form on or before January 30, 2018 5:00 pm (Pakistan Standard Time).

The deadline to submit all supporting documents along with the proof of payment of Admission Application Processing Fee in ONE Package is January 31, 2018

Application Processing and LUMS Test Registration Fee (if applicable)

The application processing fee is Rs. 5,000.
The LUMS SBASSE subject Test Registration Fee is: Rs. 1900 (if applicable)

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 Fee payment voucher. The Processing Fee voucher will be generated on the next day of Application Submission. 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 in 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