Imperial vs LSE: Which institute is best suited for an Economics degree abroad

The UK is a multicultural hub, making it the second most popular destination for overseas students. This diversity enriches campuses, allowing students to interact with peers from around the world and learn beyond their subjects. The extensive choice of subjects, innovative teaching styles, and modern facilities enhance the learning experience. 

According to the QS World University Rankings 2024-45, Imperial College London is ranked at number 2, while the London School of Economics holds the 50th spot. Let’s take a look at which institute provides what facilities to students:

Location  

LSE is located in the heart of London and surrounded by many hotels with a range of options from affordable to high quality, all within walking distance. LSE is also walking distance from many of the famous landmarks in London, such as the British Museum, the National Gallery, Trafalgar Square, Covent Garden, Somerset House etc., and is surrounded by the main theater district.

Imperial’s main campus offers a vibrant community right next to world-famous museums. Students can unwind in the nearby Royal Parks, just a few minutes away. Being in London provides numerous opportunities to build a valuable network of business contacts. Students are ideally positioned to attend interviews, visit companies, and participate in networking events. The central location in South Kensington makes these journeys even more convenient.

Admission process

The UK requires qualifications equivalent to A-levels. Applicants must meet course competency requirements and English language standards, often demonstrated through subjects studied or admissions tests. Applications are submitted through UCAS, allowing up to five college choices. They also require a 4,000-character personal statement, highlighting the applicant’s genuine enthusiasm for the subject through relevant experiences and activities. Admissions tutors evaluate applications holistically, considering marks, letter of recommendation, the personal statement, and admissions test scores. 

Interviews are also a part of the evaluation process. It is a crucial step in understanding your motivation and your critical thinking skills. 

Imperial’s minimum entry standard is 91 per cent overall for scholars under the CBSE or ICSE board. It requires 95 per cent in Mathematics and 90 per cent in two other subjects (any out of five). 

On the other hand, LSE requires Indian applicants studying under Indian boards to have at least 80-85 per cent in each subject.  

It is mandatory for the applicants to take the Test of Mathematics for University Admission (TMUA) for both Imperial and LSE. 

Scholarships

Imperial offers a total of 17 scholarships to international students — The Tsotsorkov Scholarship, Women’s Scholarship (Majorie McDermott), World Scientific Scholarship, The Beacon Scholarship, Stevenson Fund, Rio Tinto Scholarship, and many more. 

Each year, LSE awards a number of scholarships — Stelios Scholarships, Goldman Sachs – Kyri Loupis Scholarship, The Beacon Scholarship, Rajeeb Mukherjee Memorial Scholarship, Pestalozzi International Foundation Scholarships, and many more.

Course

Imperial offers BSc Economics, Finance and Data Science,  which is a first-of-its-kind degree that provides students the rigorous study of economics and finance, combined with the learning of data science and its applications. Their distinctive curriculum has been designed by leading academics at the forefront of each discipline with input from industry and public policy leaders. This course is delivered by the Imperial College Business School, where you can also benefit from the robust network of students and alumni. 

Through a unique combination of subjects, such as microeconomics, macroeconomics, data science and machine learning, you will develop the analytical skills and coding capabilities required by the next generation of economists, policy experts, business leaders, and researchers to address the big issues of our time. You will also develop essential skills identified by employers though specialist modules on effective communication, teamwork and emotional intelligence.

With BSc Economics at LSE, you will gain a solid grounding in analytical techniques, statistical theory and quantitative methods and apply your learning to complex real-world problems. Throughout, you will  take an open-minded and scientific approach to problems, using formal modeling of economic relationships and testing hypotheses against data. After a core foundation in microeconomics, macroeconomics and econometrics, one can select from specialist economics courses and external options from outside the department. You will learn how to develop and communicate complex arguments effectively – equipping you with invaluable skills for your future career.

LSE has one of the largest economics departments in the world and their academics lead global thinking and research in the field. Their department is regularly ranked number one (outside the USA) for published research in economics and econometrics.

Extracurricular activities 

Imperial boasts more than 380 student-led clubs, societies, and projects, making it one of the only UK universities with the most diverse range of student-run activities.

You can join over 200 societies at LSE, or start your own society, by volunteering for a local charity, or attend a public lecture by a world-leading figure. There is a lot to choose from.

(The writer is the Senior Consulting Manager at Athena Education)