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 Master's 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.
For MS Economics 2.5 year track students who have previously taken and passed Principles of Microeconomics and Principles of Macroeconomics during their undergraduate degree with at least B grade or above may be allowed to take two courses from Mathematics or Computer Science departments in its place. The list of courses from Mathematics and Computer Science Departments that will be open to such students will be decided by the Department.

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 230 Statistics and Data Analysis

4 credits

ECON 262 Mathematical Applications in Economics

4 credits

Second Semester, Spring (12 credits)

 

ECON 211 Intermediate Microeconomics

4 credits

ECON 221 Intermediate 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, Applied Microeconomics; Poverty & Income Distribution; Growth Models; Advanced Microeconomics; Advanced Macroeconomics; Advanced Urban Economics; Advanced Water Economics; Topics in Energy Economics, among others.

Important Dates

MS Economics

ActivityDate
Online Application Deadline (PST)
07 May 2020
05:00 pm
Deadline to submit supporting documents
08 May 2020
Online Application Deadline (PST) -- LUMS UG Continuing Students
07 May 2020
05:00 pm
Deadline to submit supporting documents - LUMS UG Continuing Students
08 May 2020
Deadline to take GRE
08 May 2020
Admission decisions
01 Jul 2020 to 31 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 2020 Admissions

Applicants must meet the minimum eligibility criteria in order to be considered for 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 and submitted application form and supporting documents by the stipulated deadline;
  • Letters of recommendation

Note:

This is the minimum criteria that applicants need to fulfil in order to be eligible to apply. Fulfilment of this criteria does not guarantee admission to LUMS.

Academic Requirements for Fall 2020 Admissions

A minimum of 16 years of education is required for applying to the MS Economics Programme.

Applicants are expected to have obtained their Bachelor’s (or Master’s) degree from the National or Foreign institutions that are accredited or recognized by the Higher Education Commission (HEC), Pakistan. Applicants who have obtained their degrees from institutions that are not listed with the HEC, Pakistan, will be required to obtain an Equivalence Certificate from the HEC. For further information, please visit: www.hec.gov.pk.

As a minimum academic performance, all applicants must have Sixteen years (16) of education resulting in a Master's or a four years Bachelor's degree recognized by the Higher Education Commission (HEC), Pakistan. Applicants who have obtained their Bachelor’s degree from an international university recognized by the Higher Education Commission (HEC), Pakistan will be required to obtain an Equivalence Certificate from the HEC.

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

Note:

Applicants completing their last degree by June 30, 2020 are also eligible to apply for MS Programme if they are meeting all minimum admission requirements at the time of submission of application.

Please note applicants need to provide the final official transcript by June 30, 2020 or they will not be considered for admission in MS programme.

Admission Eligibility Criteria for LUMS Undergraduate Continuing Students +

Continuing Economics Students

LUMS continuing students majoring in economics (class of 2020) are eligible for direct admission to MS Economics (1.5 year) subject to obtaining SCGPA of 3.00 (at the time of application submission) or above in both Economics and Mathematics at the end of Fall Semester 2019. Other economics majors with a SCGPA of 3.0 or above (at the time of application submission) in both Economics and Mathematics may also apply, but their admission decisions will be made by the 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) Programme, 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 Programme). This stream will be particularly suited to LUMS majors in Social Science disciplines, Management Sciences, Pure Sciences & Engineering. This group will also be exempted from GRE (General) test.

 

Admission Eligibility Criteria for LUMS Graduated Students +

LUMS BSc Economics (Economics & Mathematics) majors from the class of 2019 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 Programme) and are required to appear in GRE (General) test.

Note:

MS Economics 1.5 & 2.5 Year Programme students with a SCGPA of < 3.0 must take GRE (General) Test. They are expected to apply through the regular admission process. Application submission deadline for this category of students is May 07, 2020.

Please visit the following link to apply https://admissions.lums.edu.pk.


 

Admission Test Requirement for Fall 2020 Admissions

All applicants need to take the GRE (General).

Graduate Record Examination (GRE)

GRE (General) is offered as a computer adaptive test worldwide. GRE taken five years before the admission deadline will not be considered valid. Applicants need to take the GRE through the Educational Testing Service (ETS), USA in order to be considered for admission. The deadline to take GRE (General) is May 08, 2020. GRE 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 2020 Admissions

Applicants must complete and submit their online application form on or before May 7, 2020; 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/ upload all supporting documents to the LUMS Admissions Office on or before May 08, 2020.

Application Processing Fee

  • The application processing fee of  Rs. 1,200
  • The application processing fee of $81 for International applicants

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 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?

Department has no policy of deferment for newly admitted students in the MS Economics program.

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.

Who is an International applicant?

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.

What is the Higher Education Commission (HEC), Pakistan?

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

How do I get equivalence from Higher Education Commission (HEC), Pakistan?

International students can get equivalence through the following process: http://hec.gov.pk/english/services/students/Equivalence%20Degree%20Issuance.

Does LUMS offer campus accommodation to international students?

LUMS provides a well-maintained residential environment for International students.

What are the visa requirements for LUMS as an International applicant?

Please visit the link for visa requirements: https://international.lums.edu.pk/visa-and-travel#int-accbtn-1a.

Fees

Fee Structure for FY 2020-21

1.5 Year Programme:

Particulars

Fall Semester

Spring Semester

 

PKR

PKR

Admission Fee (One Time Charge)

81,500

-

Tuition Fee

351,600

351,600

Semester Registration Fee

26,900

26,900

General Security (Refundable - One Time Charge)

34,400

-

Total Fee

494,400

378,500


2.5 Year Programme:

Particulars

Fall Semester

Spring Semester

 

PKR

PKR

Admission Fee (One Time Charge)

81,500

-

Tuition Fee

468,800

351,600

Semester Registration Fee

26,900

26,900

General Security (Refundable - One Time Charge)

34,400

-

Total Fee

611,600

378,500


Hostel Fee

Particulars

Fall Semester

Spring Semester

 

PKR

PKR

Hostel Fee (double occupancy)

45,000

45,000

Hostel Fee (triple occupancy)

30,000

30,000


Important Points

  • The above breakdown of fee structure is for Year 1 of the MSc Economics programme
  • Fees are payable by semester according to the schedule given in the Annual Fee bill.
  • Through an amendment in the Income Tax Ordinance 2001 by Finance Act 2013, advance tax (under section 236 I) shall be collected @ 5% on the entire amount of fee (if Student Payable exceeds PKR 200,000 per annum excluding the amount refundable).
  • Advance tax paid on fee is adjustable at the time of filing of Income tax return. LUMS will issue Advance Tax Certificate in this regard at year-end.
  • University fees are usually announced once each year, for the following academic year. However, tuition and fees are subject to change without notice.


Refund Policy

To learn more about the University's Refund Policy, please click here.

SUBMISSION OF SUPPORTING DOCUMENTS

We are here to help and guide you through the admissions process during this time. You can continue to monitor this page for admissions related updates. Our campus is also providing general updates and resources as needed. 

Our Campus is closed, but we're still here to help

Due to the country’s stay at home directive, LUMS campus is closed and no longer offering in-person visits. However, we're still working and available to answer your admission related questions! Feel free to email us at admissions@lums.edu.pk or contact us through Live web chat (Mondays through Fridays from 9:00 a.m. to 4:00 p.m. PST).

Unfortunately, a few of our processes are unable to be done remotely. These are detailed below.

Submitting your supporting documents

All available documents can be submitted online through the LUMS Online Admission system. In case, few documents are not available/missing then applicants can seek help/extension by writing to the Admissions Office at admissions@lums.edu.pk.

Acknowledgement for documents receiving

We may not be able to accept postal mail or courier packages at this moment. If you had documents sent through such means recently, you will receive a system generated acknowledgement email of your submitted documents within two weeks’ time. If need be, Admissions staff will also contact you for the completion of supporting documents.

Recommendation Letter Waiver

If referees can send recommendation letters by email, they can email them directly to admissions@lums.edu.pk. If this cannot be done, please provide only names and contact details of referees and we will approach them directly, if the need arises.

Please feel free to contact admissions@lums.edu.pk, if further information is needed.

Wishing you health and safety!

Overview
Structure
Admission Criteria
Information on document(s) submission
Fees
Fee Structure
Important Dates
Apply Online
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