22.345
88.456
99.221
97.166
31.532
66.321
89.111
67.155
32.998
67.112
41.332
98.232
77.218
53.682
87.322
69.468
59.113
79.332
12.648
99.658
87.124
89.335
97.236
11.238
43.435
99.354
76.223
97.235
20.345
36.548
95.645
99.562
MSc
ECONOMICS
New
for 2012
“Economicsisoftentaughtandused
inapublicpolicycontext,butthe
subjectalsohasahugecontribution
tomaketostrategyformulationby
focusingonthedecisionsofthose
operatingwithinmarkets,whether
inprivateorpublicsectors.”
Dr Peter Gist, Director, Arup
Intoday’srapidlychangingenvironment,
graduateslookingtostartacareer,
whetherinmanagementconsultancy,
policyanalysis,financialservicesorthe
corporatesector,needtocombinethe
rigourofanalyticalthinkingwitha
strategicfocus.ThenewMScEconomics
andStrategyforBusinesshasbeen
developedtoaddressthisneed.
Thefocusoftheprogrammeis
inter-disciplinary,combiningadvanced
coursesinbotheconomicsandstrategy.
Studentswillbeexposedtoabroad
rangeofeconomicandstrategic
thinkingfromcorporategovernanceand
ofstrategyattheintersectionof
organisationtheoryandtechnological
innovation.
Ouraimistoprovideanopportunity
forbusinessgraduateswithexperience
ofeconomicsandstrategytodevelop
theiranalyticalskillsandtheirstrategic
thinking.Ouremphasisthroughoutisto
ensurethatstudentsdevelopan
analyticaltoolkitwhichcanbeeffectively
appliedtoawidevarietyofsituations.
Thisuniquecombinationofstrategyand
economicswillalsoprovideavaluable
platformforrecentgraduatestoconsider
andpursueamoregeneralistpathin
Shapeyour
thinking.Shape
yourfuture.
New
for2012
TaughTByfaculTy
rankED4ThIn
ThEwOrlDfOr
EcOnOMIcS*,ThIS
nEwPrOgraMME
MScEconomics&
StrategyforBusiness
gainareputation
forexcellence
Succeed in your MSc at Imperial College Business School and you become a graduate of one of
the world’s leading universities, with a global reputation for excellence in economics, strategy
and innovation. Our faculty have strong links with industry, so they will inspire you by bringing
theory alive through case studies drawn from their experience as business consultants. You will
learn from their ground-breaking research, benefit from the Business School’s collaboration with
other Imperial College London departments and institutes, and graduate with a command of the
latest thinking.
Thefocusoftheprogrammeispractical.youwill applywhatyoulearnthroughgroupdiscussions andprojectwork,buildingyourtechnicalskillsand yourconfidence,improvingyourdecision-making abilityandenhancingyourvaluetoyouremployer. Exercises,suchastheBusinessSimulationand consultingProject,willallowyoutopractise andconsolidatetheknowledgeyouhavegained throughoutthecourse.Thiscombinationofacademic excellenceandreal-worldrelevancemakesour graduatesattractivetoemployersfromeverysector. weprovideafriendly,supportiveenvironment whereyouwillshareinsightswithotherhigh-calibre studentsfromculturallydiversebackgrounds. workingingroupsisanimportantpartofour approach,becauseitencouragescollaborative skills,generatesoutstandingresultsandbuilds yourpersonalandprofessionalnetworks.Project workinsmallgroupsenablesyoutomasterthe theories,knowledgeandskillstaughtthroughout thecourse,givingyouanexcellentfoundationin themanagementexpertiseyouwillneedinthenext stageofyourcareer. Ourlocation,inSouthkensington,bringsyou totheculturalheartoflondon,withmanyofthe world’smostfamousmuseums,artgalleries,parks andrestaurantsonyourdoorstep.youarealso closetothecity,london’sfinancialandbusiness centre,hometotheheadquartersofmanyglobal organisations.Oneoftheopportunitiesinthe programmeisthechancetovisitandlearnfrom leadingorganisationsoperatingindifferentsectors.guestlecturersandspeakers
atImperialcollegeBusinessSchoolweareproudtohostguestlecturesandspeakersalongside world-classteachingfacultygivingyouindustryinsightandperspectivesfromthemodernbusiness world.recentspeakersinclude:• David Miles, Managing Director of Morgan Stanley; Member of The Bank of England’s Monetary Policy Committee
• Ken Anderson, Managing Director, UBS
• Baroness Eliza Manningham-Buller, Former Director General of MI5; Chair of Imperial College Council from July 2011
• Sam Palmisano, Chairman and CEO, IBM
• Dr Pier Francesco Guarguaglini, Chair and CEO of Finmeccanica
“londonisamazing!
Studyinghereis
greatasyouare
onthedoorstepof
someoftheworld’s
mostsuccessfuland
innovativecompanies,
andimmersedinone
ofthemostculturally
diversecitiesin
theworld.”
Rachel Garrett, MSc Management 2009
Rachel works as an Account Manager for ekit, JT Global
Shapeyourfuture:
Programmeoverview
The MSc Economics and Strategy for Business blends the core elements of the highly successful
learning experience developed in our well established suite of MSc programmes, drawing on the
strength of teaching and cutting edge research in economics and strategy at Imperial College
Business School.
Please note that the programme structure is subject to change and you should check the website for the most up-to-date information.
Theprogrammeconsistsofthreedistinctphases:the ESBcore,theESBadvantageandESBapplications. TheESBcore,consistingofsixcoursesinthe autumnterm,providesstudentswithabroad understandingofthetoolsofeconomicsandstrategy. Inthespringterm,theESBadvantagecomprises fivecourseswhichbuildontheESBcoretodeepen students’understanding. ESBapplicationsinthesummertermprovidestudents withvaluablepracticalexperienceinapplyingthe theoriestheyhavepreviouslycoveredtoreal-world cases.youwillundertakeaBusinessSimulation whereyouwillintegratethematerialgainedand applyittoarealisticsituation.TheconsultingProject, undertakenforarealclient,willenableyoutoapplythe programmematerialtothesolutionofarealproblem.
Autumn term
October-December
The ESB Core
•BusinessEconomics •EconomicsandStrategyforInnovation •TheMacroeconomicEnvironment •StrategicMarketing •Managementaccounting •DataToolsandEvidence(onlinecourse)
Spring term
January-March
The ESB Advantage
•finance,riskManagementand regulation •corporateStrategy •StrategyImplementation •corporategovernanceandcorporate finance •Information,Incentivesandcontracts
Summer term
april-September
ESB Applications
•globalStrategy •DigitalEconomicsandDigitalStrategy •EnergyEconomicsandStrategy •BusinessSimulation •consultingProject •IndividualEssayProgrammetimetable
“Thisinnovativeand
relevantprogramme
aimstoapply
sophisticatedeconomic
analysisdirectlyto
businesspolicyand
strategy.Thatisboth
appealingandrare.
Moreimportantly,itis
agoodwayofgiving
peopletheskillsof
economicanalysisin
awaythatshowstheir
directapplicationinto
business.”
David Miles,The Monetary Policy Committee,
courses
BusinessEconomics
Thiscourseexploresthewayinwhichbusinessesrespondtomarket incentivesandtheconsequencesformarketbehaviour,thenature androleofcompetition,andtheroleofinnovation.Itshowshow firmscancreateandovercomebarrierstoentry,howadvertisingcan expandthesizeoftheirmarketandhowfirmsatdifferentstagesof thevaluechaininteract.EconomicsandStrategy
forInnovation
Technologicalchangeisamajorchallengeforfirmsanddemands carefulstrategicplanning.Inthiscourse,thestrategicmanagement oftechnologicalchangeandthemanagementofinnovationwill beconsidered,andarangeofstrategicandeconomictoolsand frameworksformanagingthesecriticalissuespresented.StrategicMarketing
Marketingiscommonlydefinedasthemanagementprocess responsibleforidentifying,anticipatingandsatisfyingcustomer requirementsprofitably.Thiscoursefocusesonthecomplex interfacebetweenstrategyandmarketingand,inparticular,the strategicroleofmarketinginrealisingcorporateobjectivesand gainingcompetitiveadvantage.TheMacroeconomicEnvironment
Themacroeconomicenvironmentisakeyfactoraffectingthe performanceofanybusiness,andbusinessplanningrequiresa properunderstandingofmacroeconomicforcessuchasgovernment andinternationalpolicy.Thismoduledevelopstheframeworkand toolsofanalysisneededtoexplainhowthelevelofmacroeconomic activityisdeterminedandwhymacroeconomicconditionschange overtime.Managementaccounting
Managementaccountingcomprisesvarioustechniquesforthe calculationofcostandperformance,andalsoincludesorganisation-widecontrolsystemssuchasbudgetsandbalancedscorecards. Thiscoursewilladdressthetechnicalandcalculativeaspectsof thesemanagementaccountingpracticessuchthattheydirectly supporttheeffectivedefinitionanddeliveryofstrategicobjectives.Data,ToolsandEvidence(online)
Economicsandstrategyrelyontheanalysisofdataandthis introductoryonlinecoursedevelopsthequantitativemethods thatunderpinthetestingoftheoriesandtheforecastingofthe future.Thecourseisdesignedtoprovidetheessentialstatistics andmathematicsbackgroundforthequantitativeaspectsofthe programme.Itwillalsoincludecoverageofthetoolsrequiredto conductafinancialassessmentaspartofstrategicanalysis.finance,riskManagement
andregulation
Thiscoursedevelopsthetheoryoffinanceandregulation,and furtherexploreshowmanagerscanutilisebothfinancialmarkets andfinancialinstrumentstomitigatetherisksthattheyfaceand themanagementoftheregulatoryregimesinwhichtheymayfind themselvesoperating.corporateStrategy
corporatestrategyisconcernedwiththescopeofthefirm, determiningwhichbusinessesandactivitiestoincludewithinthe boundariesofthefirm.Thecoursewillcoververticalandhorizontal integration,internationalexpansion,diversification,mergersand acquisitions,andstrategicalliances.StrategyImplementation
whilemuchofstrategydealswithstrategicanalysis,anyseparation betweenstrategyformulationandstrategyimplementationis unrealisticsincenostrategyisofvalueunlessitisimplemented effectively.Strategyimplementationinvolvesbalancingthe strategicandoperationalgoalsoftheorganisation,appreciatingthe interconnectednessofstrategy,structureandsystems.corporategovernance
andcorporatefinance
Thiscourseexploreshoworganisationsarerunandhowtheir financingdecisionsaffecttheirgovernanceandprofitability;hence also,theincentivesformergersandacquisitions.Information,Incentives
andcontracts
Thiscourseexploreshowimperfectinformationcreates opportunitiestoexploitinformationalasymmetries,andthe contractualandincentiveresponsesthatmitigateadverse behaviour.globalStrategy
Thiscourseexploresstrategywithinaglobalcontext.Itexplores thedifferencesbetweeninternationalstrategyandglobalstrategy withanexaminationofthemacroandmicrodriversofglobalisation. Ourfocusisalsoontheimpactofglobalisation,takingaccountof thestrategicimplicationsfororganisationsaswellastheeconomic consequencesatnationallevelforgovernments.DigitalEconomicsandDigitalStrategy
Thedigitalrevolution,includingtheinternet,istransformingbusinessand consumerbehaviour.Thiscoursewillconsidertheeconomicsofdigitisation andhowdigitaltechnologiescanbeharnessedforcompetitiveadvantage.EnergyEconomicsandStrategy
Themodernworldhasreliedonplentifulsuppliesofcheapenergy, butmeetingourdemandforoilrequiresthedevelopmentofevermore inaccessibleoilfields,whilemitigatingclimatechangewillrequireheavy investmentincleaner,andmostlymoreexpensive,resources.Thiscourse applieseconomicandstrategictoolstotheanalysisofenergychoices thatorganisationswillface,andtothegovernmentpoliciesdesignedto influencethese.BusinessSimulation
aweek-longsimulationexercisedesignedtodrawtogetherthevarious aspectsoftheprogrammeandtotestthestudent’scapacitytointegratethe materialandapplyittoarealisticsituation.consultingProject
Thisisasubstantialgroup-basedprojectundertakenforarealclient.It enablesthestudentstoapplytheprogrammematerialtothesolutionofa realproblemandprovidesacapstonefortheprogramme.IndividualEssay
TheIndividualEssayisa3000wordunsupervisedessayonatopicrelevant tothecourseinanareaofbusinesseconomicsorstrategy.Studentswillbe abletochoosefromanumberofessaytitlesputforwardbytheacademics ontheprogramme.Project
StudentswishingtoundertakeDoctoralresearchcanundertakea conventionalMScprojectinplaceoftheconsultingProjectandthe IndividualEssay. forfurtherdetailsofeachcoursevisit: www.imperial.ac.uk/business-school/msc-economics-strategyfaculty
You will benefit from the world-class expertise of our faculty, internationally renowned for their
research, as well as from the latest theory and techniques, supported by real-life case studies
to ensure your learning is practical and rooted in current best practice.
focusonfaculty
Dr Anjali Bakhru, Programme Director
anjali’steachingfocusesonstrategywithresearchintheareaofcompetitivestrategy.PriortocomingtoImperial,anjali taughtandresearchedatMiddlesexuniversityBusinessSchoolandTheOpenuniversity.Shehasalsotaughtatother universitiesincludingcassBusinessSchoolandgeorgetownuniversityinwashingtonDc.Inaformerlife,shestructured andmarketedequityderivativeproductsforinvestmentbanksbothintheukandoverseas.
Professor Richard Green, Professor of Sustainable Energy Business
recently,themainfocusofrichard’sworkhasbeenontheimpactoflow-carbongenerationontheelectricitymarket, andthebusinessandpolicyimplicationsofthis.BeforejoiningImperial,richardwasProfessorofEnergyEconomicsand DirectoroftheInstituteforEnergyresearchandPolicyattheuniversityofBirmingham.hehasspenttimeonsecondmentto theOfficeofElectricityregulationandhasheldvisitingappointmentsattheworldBank,theuniversityofcaliforniaEnergy InstituteandtheMassachusettsInstituteofTechnology.
Professor Jonathan Haskel, Chair in Economics
JonathanhaskelisaProfessorofEconomicsatImperialcollegeBusinessSchool.hehasjustfinishedeightyearsasa Memberoftheukcompetitioncommission,includingservingonthepanelinvestigationintoBritishairportsauthority.his researchinterestsareproductivity,innovation,intangibleinvestmentandgrowth.hisresearchcentreiscErIBa(thecentre forresearchintoBusinessactivity).
Dr Yuri Mishina, Assistant Professor of Organisational Behaviour/Strategy
yuri’sresearchinterestslieattheintersectionofstrategyandorganisationtheory.hisresearchexamineshowtop managementteamandstakeholderbeliefsystemsinfluenceafirm’sstrategicchoicesandoutcomes.Someofyuri’scurrent projectsincludeanexplorationofhowcorporatesocialperformanceandillegalactivitiescaninfluencefirmperformance,and astudyofwhysomesupergroupsaremoresuccessfulthanothers.yuriiscurrentlyaneditorialreviewboardmemberofthe academyofManagementJournal. •Exploringthewaysbrandsachieveiconicstatus andmanageiteffectively •Examininghowtopmanagementteamand stakeholderbeliefsystemsinfluencestrategic choicesandoutcomes •Electricitypricingandtheimpactofmovingto alow-carbonsystem •Institutionalchangeandnewcareermodels inprofessionalservicefirms •Thewaysinwhichnewtechnologicalplatforms (likewindowsandgoogle)affectcompetition, innovationandstrategyinhigh-techfirms •researchintohowfirmsusenewculturalresources inordertoformanddeveloptheirstrategies
recentresearchtopicsinEconomicsandStrategy:
“Thedifference
betweengoodand
badstrategiesis
morethanamatterof
perception.Ifweneed
betterstrategy,we
needtodevelopbetter
strategicthinkers.”
adedicated
careersservice
You will benefit from a highly professional careers service that is focused on your individual needs.
From the moment you accept an offer of a place on our programme, the Career and Professional
Development Service works with you to identify your career and professional goals, and to equip
you with the tools to achieve them. Through a combination of one-to-one support and regular
workshops, we will help you to identify your skills and strengths, and give you all the support you
need to build a career strategy that is right for you.
Ourinteractiveworkshopswillgiveyouthetoolsto marketyourselfsuccessfullytoemployers,guidance onpreparingcVs,coverlettersandapplication forms,andtrainingininterviewandassessment centreskills.Ourworkshopswillthenfocusmore onpersonaldevelopment,givingyouvaluable skills,suchashowtopresentwithimpact,network effectivelyandworkwellincross-culturalteams. Ourexpertconsultantsareavailableforone-to-onesessionsthroughouttheyear,whetheryouwant tofine-tuneyourcV,takepartinamockinterviewor reviewyouroverallcareerstrategy. andourservicecontinuesafteryougraduate. asanalumnus,youcanarrangeappointmentswith usatanytimeduringyourcareer;forexample,ifyou considerachangeindirectionorwanttoexplore strategiesfordevelopingyourcareerfurther. Theaimoftheprogrammeistoproduceapool ofhighlyskilled,highlytrainedMScgraduates whocanprogresstoopportunitiesinarangeof establishedorganisations,entrepreneurialventures orgovernmentdepartments.
BusinessSchoolstudentsare
nowworkingforawiderange
ofcompanies,including:
•accenture •BP •BSkyB •Deloitte •DepartmentofTrade &Industry •glaxoSmithkline •hSBc •IBM •kPMg •londonStock Exchange •Mckinsey&company •MorganStanley •Shell •Tataconsultancy Services •unileveralumninetwork
likeeveryotheraspectofourMScprogrammes, thealumninetworkoffersyoupracticalbenefits andallowsyoutotakefulladvantageofyour ImperialcollegeBusinessSchoolconnections fromthebeginningofyourstudyrighttheway throughyourcareer.Ourroleinkeepingthe alumninetworkconnectedstartsbyproviding youwiththeopportunitytomeetapowerful internationalcommunityofalumnithrough events,supportclassesandcountrynetworks, sectorinterestgroupsandcontinuouslearning andcareerservices.weencourageyoutoplay anactivepartinthisprestigiousnetworkand, asastudentandalumnusoftheBusiness School,tomakefulluseofyourlife-long connectiontooutstandingbusinessleaders, thinkersanddecision-makers.“Theexperienceand
expertiseIgainedat
Imperial,combined
withtheoutstandingly
dedicatedcareers
andProfessional
DevelopmentService,
hasprovedinvaluable
infacilitatingmy
careertrajectory,
whichhasseenme
commencework
atMckinsey&
Entryrequirements
whoshouldapply?
wearelookingforambitiousbusinessgraduateswhowishtogain advancedknowledgeineconomicsandstrategy,anddeveloptheir quantitative,analyticalandstrategicthinking. applicantsshouldberecentgraduateswithnomorethanthree years’full-timeworkexperiencewhohavestudiedasubjectthat includeseconomicsandstrategy.Toapplyyouneed: •auk2.1honoursdegreeorabove(orequivalent)inasubject thatcontainsmodulesineconomicsandstrategy •anEnglishlanguagequalification:•GCSE, IGCSE, GCE ‘O’ Level,orequivalent,atgradeB
•Cambridge Certificate of Proficiency in English (CPE)atgradeB
•IELTS (academic):aminimumoverallscoreof7,witha
minimumscoreof6.5inwritingandspeakingsections
•TOEFL (computer-based):aminimumscoreof250
(TwEof4.5+)
•TOEFL (internet-based): aminimumoverallscoreof100,witha
minimumscoreof24inwritingand24inspeaking. Please note: •OurEnglishlanguagerequirementsareapplicabletohome, EuandInternationalstudents •TOEflandIElTSscoreswillonlybevalidiftheyarelessthan twoyearsoldontheprogrammestartdate •OurEnglishlanguagerequirementsarehigherthantheminimum standardsetbyImperialcollegeandwaiverswillonlybe consideredunderexceptionalcircumstances •wedonotrequirethegMaTorgrEfortheMScEconomicsand StrategyforBusinessprogramme.
