Office of Admissions
LUMS DHA, Lahore Cantt. 54792, Lahore, Pakistan
Tel: +92 42 3560 8000 Ext.: 2177
MS Economics
MS Economics
Overview
The LUMS Master of Science (MS) Economics degree has emerged as one of the leading Economics programmes in the country. Taking advantage of high-quality teaching and research at LUMS, the programme is designed for fresh graduates as well as professionals seeking training in Economics for career progression or change.
Offered by the Mushtaq Ahmad Gurmani School of Humanities and Social Sciences (MGSHSS), the programme encourages students to apply their training to address and resolve major challenges in business and policy. It also provides a 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 degree offers two tracks: MS Economics (1.5 year) and the MS Economics (2.5 year) programmes.
Structure
The degree offers two tracks: MS Economics (1.5 year) and the MS Economics (2.5 year) programmes.
1.5 year degree programme is designed for individuals who have sufficient background knowledge in economics at the undergraduate level. Students have a thesis and non-thesis option.
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.
1.5 Year Programme Degree Progression:
Course | Credits | |
| 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 | Enrol for incomplete thesis | |
| Without MS thesis: | ||
| Third Semester, Fall (6 credits) | ||
| Elective 2 | 3 credits | |
| Elective 3 | 3 credits | |
| Total | 30 credits | |
Electives: Applied Microeconomics; Corporate Finance; Options, Swaps and Futures; Advanced Microeconomics; Advanced Macroeconomics; Growth Theories; Behavioural Economics; Poverty and Income Distribution; Trade and Development; Philosophy and Economics
2.5 Year Programme Degree Progression:
Course | Credits | |
| 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 | Enrol for thesis | |
| Without MS thesis: | ||
| Elective 2 | 3 credits | |
| Elective 3 | 3 credits | |
| Total | 30 credits | |
Elective courses include: Applied Microeconomics; Poverty and Income Distribution; Growth Models; Advanced Microeconomics; Advanced Macroeconomics; Advanced Urban Economics; Advanced Water Economics; Topics in Energy Economics, among others.
Admission Criteria
Fall Admission 2025
Applicants must meet the minimum eligibility criteria in order to be considered for admission to the MS Economics Programme.
Admission is purely merit-based and rests solely on the following criteria:
Academic Record;
Performance in Admission Tests;
Application review; and
Submission of Complete Online Application, Application Processing Fee and Supporting Documents by the stipulated deadline
NOTE:
These are the minimum requirements that applicants need to fulfil in order to be eligible to apply. Fulfillment of these criteria does not guarantee admission to LUMS. Admission decisions made by the University are final.
Academic Record
A minimum of 16 years of education leading to a degree programme is required for applying to the MS Economics Programme.
Applicants who hold a Bachelor's degree of less than four years duration or have earned their Bachelor’s (or Master’s) degree from foreign institutions must provide an equivalence certificate verifying 16 years of education, issued by the Higher Education Commission (HEC) of Pakistan. Similarly, applicants who have obtained their degrees from institutions 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.
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 years) or MS Economics (2.5 years) programme will be taken by the Admissions Committee.
NOTE:
Applicants completing their last degree by July 31, 2025, are eligible to apply for the MS Economics Programme if they meet minimum admission requirements at the time of application submission.
Admission Eligibility Criteria for LUMS Continuing Undergraduate and Graduate Students
LUMS Continuing Students majoring in Economics (Class of 2025) and LUMS BSc Economics (Economics and Mathematics) majors who graduated from the class of 2024 or earlier classes are required to take the GRE (General)/LGAT/NTS GAT (General) and need to apply through the regular admission process.
Similarly, other LUMS majors from previous classes with insufficient background in Economics, Mathematics, Statistics and Econometrics are also encouraged to apply to the MS Economics (2.5 years) Programme and are required to appear in GRE (General) / LGAT / NTS GAT (General).
Test Requirement
Applicants are required to take the following tests in order to be considered for Fall 2025 admissions:
Graduate Record Examination (GRE); OR
LUMS Graduate Admission Test (LGAT); OR
NTS GAT (General).
The deadline to take the GRE (General)/NTS GAT (General) is April 27, 2025.
The 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. GRE scores must be reported to LUMS officially from the testing agency. The LUMS code for receiving GRE (General) scores from ETS is 0679.
LUMS Graduate Admission Test (LGAT) is comprised of Quantitative, Verbal, and Analytical sections. The LGAT Test Scores will be valid only for the admission of Fall 2025.
NTS GAT (General) scores are valid for Two (2) years. Moreover, a cumulative score of 50 in GAT (General) is the minimum requirement for admission. For further information, visit www.nts.org.pk
Submission
The admission application will be considered for evaluation after the successful completion of the following Five (5) STEPS by the applicants on or before the stipulated deadlines:
Online submission of scanned copies of required supporting documents;
Submission of an appropriate Application Processing Fee;
Online Submission of Financial Aid Application (if applicable) by the due date; and
Online submission of the Letters of Recommendation by the Referees.
Application Processing Fee
- The application processing fee is PKR 4,000
- LUMS Graduate Admission Test (LGAT) registration fee is PKR 2,480.
- The application processing fee is USD 170 for International applicants.
Note:
Applicants must complete and submit their Online Admission application on or before April 15, 2025, 5:00 pm (PKT).
Applicants are required to submit the scanned copies of all supporting documents online on or before April 16, 2025.
After the successful submission of the Online application, applicants must make the Processing Fee payment by the deadline.
Only applicants who have indicated their intention to apply for LUMS Financial Aid (through the Online Admission Application Form), submitted their admission application, and paid the required application processing fee by the deadline will be granted access to the Financial Aid application. Once these requirements are met, the Financial Aid application tab will be visible on the online admission portal starting February 07, 2025. Applicants must submit their complete Financial Aid application, along with all necessary supporting documents, by May 16, 2025.
Referees must submit completely filled Letters of Recommendation by the given deadline.
Completion of all steps is mandatory. Applications, documents, or fee received after the stipulated deadline will not be processed.
Application Review/Interview
Shortlisted applications will be reviewed by the relevant committee to finalise the admission decision. Applicants are encouraged to provide complete information regarding their academic achievement, research reports, attended workshops, and extracurricular activities and must tell LUMS about their success stories in order to substantiate their applications. Applicants must provide complete and correct information regarding their academics, work experience and test attempts. The application will be evaluated on the basis of information provided at the time of application submission.
Performance in Interview
Shortlisted applicants may be requested to appear for an interview.
The modes of payment are as follows:
1. Voucher can be paid through cash, Pay Order and Bank Drafts made in favour of "Lahore University of Management Sciences" at any branch within Pakistan of following banks:
- Allied Bank Limited
- Meezan Bank Limited (Customer Code: LUMS)
- Bank Al-Habib Limited
2. For online Credit/Debit card payment, please click here.
3. Vouchers can also be paid through ATM machines and internet banking portals of the following banks:
- Allied Bank Limited
- Askari Bank Limited
- Bank Alfalah Limited
- Bank Al-Habib Limited
- Faysal Bank Limited
- Meezan Bank Limited
- Standard Chartered (Only for Online Payments)
Note:
- For making payments through internet banking portals/ATM, students need to have bank account in the respective bank.
- Fee payment through "Pay Orders" is accepted at banks up to two working days prior to the payment deadline. Fee may be paid through Cash Receipts, Online Services and Credit/Debit Cards till payment deadline.
Advance Tax:
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 except refundable portion.
Bank Helpline Numbers
Allied Bank Limited
1. UAN: 111-225-225, Branch contact No: 042-35748308
2. Regional Office: 042-35747603
Meezan Bank Limited
1. Region Office: 92-42-35786207
2. Head Office: 92-21-36406139
Bank Al-Habib Limited
1. Karachi: 92-21-32277231-239, Lahore: 0333-1218430
2. DHA Ph. 5 Branch: 042-37189231 042-37189234
Fee Structure for FY 2024-25
1.5 Year Programme
| Particulars | Fall 2024 | Spring 2025 | Total |
|---|---|---|---|
| Credit Hours | 12 | 12 | 24 |
| PKR | PKR | PKR | |
| Admission Fee | 138,130 | - | 138,130 |
| Tuition Fee | 549,960 | 549,960 | 1,099,920 |
| Semester Registration Fee | 44,020 | 44,020 | 88,040 |
| General Security | 57,580 | - | 57,580 |
| Total | 789,690 | 593,980 | 1,383,670 |
2.5 Year Programme
| Particulars | Fall 2024 | Spring 2025 | Total |
|---|---|---|---|
| Credit Hours | 16 | 12 | 28 |
| PKR | PKR | PKR | |
| Admission Fee | 138,130 | - | 138,130 |
| Tuition Fee | 733,280 | 549,960 | 1,283,240 |
| Semester Registration Fee | 44,020 | 44,020 | 88,040 |
| General Security | 57,580 | - | 57,580 |
| Total | 973,010 | 593,980 | 1,566,990 |
Hostel Fee
| Particulars | Fall 2024 | Spring 2025 | Summer 2025 |
|---|---|---|---|
| PKR | PKR | PKR | |
| Hostel Fee Double Occupancy | 84,830 | 84,830 | 34,930 |
| Hostel Fee Triple Occupancy (Bigger room) | 61,760 | 61,760 | 25,430 |
Important Points
- The above breakdown of fee structure is for Year 1 of the MS Economics programme.
- The per credit hour rate for FY 2024–25 is PKR 45,830/-
- Fees are payable by semester according to the schedule given in the Annual Fee bill.
- University fees are usually announced once each year. However, the University reserves the right to change its policies and fee structure at any time.
Refund Policy
To learn more about the University's Refund Policy, please click here.
Important Dates
| Activity | Date |
|---|---|
| Deadline to submit Online Application | April 15, 2025, 5:00 pm (PKT) |
| Deadline to submit Online Supporting Documents and Processing Fee | April 16, 2025 |
| Deadline to submit Financial Aid Application (if applicable) | May 16, 2025 |
| LUMS Graduate Admission Test (LGAT) Administration | April 27, 2025 (Tentative) |
| Deadline to take GRE/NTS GAT (General) | April 27, 2025 |
| Completion of Admission Process | July 31, 2025 |
| Commencement of Classes | September 2025 |
Note:
- The University reserves the right to change dates and deadlines for admissions. Please stay connected to this webpage and the Online Admissions Portal to remain informed of any updates or changes.
Frequently Asked Questions
What are the admission requirements for MS programmes?
Please refer to the Admission Criteria tab.
Do you require any test for admission to the MS programme?
Yes, you require a GRE (General) / LGAT / NTS GAT (General) test to apply for the MS Economics Programme.
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.
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 in biographical section of your online admission application. The Financial aid form will be available to fill in after you receive your admission decision.
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.
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.
Is it possible to apply after the deadline?
Applications submitted after the deadlines are not accepted.
How do I inform about a change in my 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 admissions@lums.edu.pk with the specific header "Change in Application Form".
How will you notify me regarding a decision on my application?
The 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?
Applicants can get equivalence through the following process: http://hec.gov.pk if required.
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
Are there any specific quotas in admission?
Admission to LUMS MS programme is purely merit based and there are no quotas.
Financial Support at LUMS
LUMS is committed to making high-quality education accessible to talented students from all backgrounds. Our Financial Aid Programme offers a wide range of support options, designed to facilitate students who demonstrate both high academic achievement and financial need.
Financial Aid awards are assessed each year, considering academic performance, demonstrated financial need, available resources, and university policies. While LUMS endeavours to provide substantial financial assistance within its available resources, students are encouraged to explore external funding sources to complement the aid provided by the university.
LUMS strives to enable students to pursue their educational and professional goals without financial barriers, reinforcing our commitment to an inclusive and academically vibrant community.
The following financial support options are available for MS Economics Programme students:
- LUMS Financial Aid
- Merit Scholarship
- Women's Scholarship
LUMS Financial Aid
LUMS Financial Aid Programme not only supports students with financial challenges but also attracts top-ranked students, ensuring that the university upholds its commitment to academic excellence by providing opportunities for the brightest minds.
LUMS aims to reduce financial barriers to higher education, nurturing an inclusive and academically vibrant community where academically distinguished students can realize their full potential and achieve their professional aspirations. At the Graduate level, Financial Aid is provided in the form of an Interest-Free Loan.
To be considered for LUMS Financial Aid, applicants must submit their financial aid application along with all required supporting documents by the application submission deadlines. Applications that do not meet these requirements will not be eligible for financial aid assessment for the 2025-26 academic year.
This support can cover part or all of a student’s Tuition and Semester Registration fees and is assessed annually, considering academic performance, financial need, available resources, and prevailing university policies to ensure ongoing assistance that aligns with each student’s circumstances.
Repayment begins six months after graduation, with a flexible repayment period of 3 to 5 years, allowing students to transition smoothly into their careers. While LUMS is committed to offering substantial financial assistance, students are encouraged to explore additional external funding sources to supplement the aid provided by the University.
Merit Scholarship
At LUMS, academic excellence is highly valued, and the university is committed to supporting students who demonstrate outstanding performance in their studies. The Merit Scholarship at LUMS is designed to reward students who have demonstrated high academic achievement by providing them with financial support.
There is no separate application process for this scholarship. Applicants with high academic credentials are considered for scholarships.
Merit Scholarship covers partial to full tuition fees for One (1) year only and is awarded to the top-ranked applicants based on admission evaluation ranking.
Women's Scholarship
LUMS is committed to making education accessible to talented students from diverse backgrounds. The Women’s Scholarship supports this mission by offering a pathway for high-achieving women to pursue advanced degree programmes, helping to bridge gender gaps in business education and leadership. Beyond financial assistance, recipients join a network of mentors and peers, fostering collaboration, professional growth, and a shared vision for future leaders.
The aim of the Women's Scholarship is to foster, celebrate and advance women’s leadership in business. By tapping highly talented young women, we hope to contribute towards building the future of not only their families but also their communities. This scholarship will support female candidates to pursue higher education on merit and will increase the number of women joining the MS Economics Programme. 50% tuition fee waiver will be awarded to women admitted on high merit.
This Scholarship will groom female managers and leaders of business; dramatically changing the managerial landscape of Pakistan. As these women assume leadership roles in organisations across the country, there will be a change in the culture of these organisations.
Maintaining Eligibility
- Financial Aid award is valid for One (1) year only. Continuation of aid in the subsequent year is subject to reassessment.
- Maintaining satisfactory performance at LUMS.
- Students receiving Financial Aid should maintain a full-time status in a regular semester. Failure to do so will lead to the cancellation of the Financial Aid award.
- Financial Aid awards can be increased, reduced or kept the same at any stage of review during your stay at LUMS.
- LUMS reserves the right to physically verify the beneficiary's Home/Business premises at any given point in time.
- University reserves the right to amend, cancel or terminate the awarded Financial Aid in case of any misrepresentation or incorrect information provisioning. Misrepresentation may also lead to termination from the Programme.
Mode of Payment
Voucher can be paid through cash, Pay Order and Bank Drafts made in favour of "Lahore University of Management Sciences" at any branch within Pakistan of following banks.