URGENT: Economics, Cambridge vs LSE

[grvchawla]

Hi everyone

I applied and have got through LSE, MSc. in Economics, 2 years program as well as the Diploma at the University of Cambridge, 1 year program ( here, if I score a 65 plus I would be automatically promoted to an MPhil in Eco. ).
I am completely lost for I have been unable to make a decision between the two and I need to do so asap!!

I did a bachelors in Statistics and had enough of this subject, hence, I plan to switch to Economics. I do not know to what extent will I like Economics and I am afraid that it might become Statistics part 2 for me....but anyways, the issues bothering me are as follows :

1. I dont see myself workingin a corporate set-up in the near future and would want to study as much as possible. If I truly like economics as a subject I might even want to pursue a PhD. in it from the US. Then, i want to know how do the US universities rank these programs i.e. which one of the programs is preferred by the universities when students studying in the UK apply for a PhD in Economics in the States ?

2. LSE is pretty expensive....Money is not as such an issue but I do not want to take that much responsibilty on my shoulders...Should I prefer Cambridge where I do stand a chance of getting a scholarship?

3. Is there difference in the insitutions' expecations of their students ?? I am curious to know whether would an MPhil at Cambridge be much more difficult than an MSc at LSE?

4. The rankings available online all indicate LSE as a better institute than Cambridge...DOes anyone out there know in what areas does cambridge lack behind LSE ?

5. Somehow I am pretty upset at the fact that everybody from my University who I know and have applied at LSE have got an offer. I mean to say that it does not make it as challenging as I thought it would be. Does this imply that the entry standards at LSE are lower than Cambridge??

I am very pro-Cambridge but yet not confident enough of nailing down on my choice...Please forward your comments that could help me decide asap.
Especially, those who have undergone the same problem ...Please do not hesitate to pour in your comments and suggestions.

Thank you in advance for your thoughts!!

[mikebike]

I think you should not chose Cambridge because all your friends got into LSE as well. LSE as well as Cambridge are two of the most selective schools in the world. LSE is THE place to be for all economic students and Cambridge similarly has a world wide reputation. Forget about the rankings.
What is important to your problem:
-Which programme fits your future career goals?
-Do you want to live in Cambridge or in London?

[grvchawla]

Thank you mikebike for your prompt reply. I am glad that at least you were able to reduce my problem to exact two questions...Thanks again for that!

- concerning my future career goals...I see myself into further studies in the US and here, I repeat my question as to how do the US universities rank these programs i.e. which one of the programs is preferred by the universities when students studying in the UK apply for a PhD in Economics in the States ? Which of the two programs is recognised better by the US universities and on what basis ??If you know more about this,I am all ears!!

-Living in either places is not an issue....I can adjust to both city life as well as campus life of Cambridge.

So, I guess the first concern would only help me determine. Please continue posting your thoughts...Your insights into the matter would do me great

For others, please don't hesitate to post in your comments and suggestions....Thanks again

[mikebike]

you're welcome! ;-)
so what is it about this "diploma" at cambridge? i've never heard of something like that? is it lower than the Mphil?
What I've read about MPhil's is that they usually only make sense if you want to go into business or do a PhD right away at the same school. if you go for a PhD at a different school the MPhil stuff will be repetition (booooring!).
However if the diploma as about the same as a MSc degree then you should go for it as it is half the time (unless you like to study longer)...


maybe this helps too: http://www.urch.com/forums/graduate-...all-three.html (Oxford vs Cambridge vs LSE - been accepted at all three!)
and this as well: http://www.urch.com/forums/phd-econo...cambridge.html (LSE vs Cambridge)

[postgradecon]

The diploma at Cambridge is intended for those who do not have a econ background. Hence, it is about the same as the first year of the 2-year program at LSE.

LSE overall is higher ranked than Cambridge for economics, but both schools are good so it would depend on your interests. Look at the option courses at both schools, the research interests of the faculty, and see what catches your interest.

If you want to do a PhD, the real master's (MPhil at Cambridge or MSc at LSE) would probably be a positive for your admissions, but it also depends on many other things.

About the repetitive aspect, don't take that into account too much. Even if you do your PhD at Cambridge or LSE you'll end up doing again courses that overlap a bit. However, the PhD courses are usually a bit harder.

Also, I would suggest that you go in the Economics forum on this site, there's a lot of people there who would be glad to help

[kushagra452]

Even I got into the LSE 2 yr Msc Economics program. This is creepy.... is LSE trying to earn a few quick bucks by taking many students into the 2 yr program? Last year there were approx 20 students in the MSc econ 2 yrs.

I have also been asked to attend the summer school for 2 courses.

[grvchawla]

Thank you so much postgradecon! thy advice really does make sense to me. I Have no Economics background as I would not count the study of high-school level of the subject as any experience. I have no idea as if now what would my research interest be ( for PhD. etc) and how to decide between the two courses based on the research interest of the faculty. I guess by the end of the first year (the diploma year) there would be more clarity in my vision.

Thanks for suggesting to post the thread on the Economics forum of the site but I guess the more I seek people's opinion on the matter, the more confused I am gonna get. So I have decided to go with my instincts and hopefully it will be for the better I have decided to take admission into the University of cambridge and this decidion is based on several reasons:
1. Its cambridge! I am simply hooked on to its prestige and powerful brand-name
2. Its much cheaper. since, I wish not to work and continue studying for a while, why not choose the cheaper option without compromising on the quality of education
3. Its very beautiful, atleast from what I see from the google images
4. I am very concerned about the fact that LSE is milking its brand name by dropping the entry standards significantly ( not particularly in eco. but in general. For eg. half my college students have applied and got through LSE)

And yes, Kushagra452, LSE's entry standards, in my opinion seemed to have dropped significantly. I would not discourage anybody from joining it as it is still as good as and even better than cambridge in different aspects. So, at the end, its all based on your judgement where you wanna head and what do you wanna do eventually. I am curious though, how many students have you come across who have got through LSE, 2 yrs Eco ??
Moreover, I dont like the idea of attending the summer school. Its too damn expensive unless money is not an issue in thy case .
Anyways...
Thanks eveyrone for thy suggestions. It really helped me a great deal !!

[kushagra452]

@ grvchawla

Congratulations for Cambridge! (wish I too had applied there... )

I have not come across any person yet for the Msc Eco 2 yr program. But the number of students for the LSE courses (other than Eco) have been quite large. The class strength for the MSc eco (2 yr) course was 20 last year. I guess it will most likely be around the same mark this year.

I have still not declined the Msc Economics LSE offer. Will attend the summer school and then decide....

My other admits are from (in Electrical engineering) Cornell, Columbia, Dartmouth, Penn State, Upenn and Georgia Tech.

Cheers!
Kushagra452

[grvchawla]

COngratulations Kushagra452 for all the admits u have got. They seem very impressive!

The Diploma program at Cambridge also admits around 15-20 students each year. The number is no different than LSE

May I ask, now that you have got so many offers won't it get very difficult for you arrive at a decision? I mean, in my case I atleast knew that I had to do Economics and for past 2-3 weeks I was completely torn between the two choices I had. In your, the decision has to be made at two levels; The discipline ( electrical engineering or Economics) and then to decide between the institutes. Anyways, it would be wise to first attend the summer school and then make a choice!

I still haven't declined my LSE offer yet. I guess I would do it sometime soon. Initially, I was also thinking of attending the Summer School but then
rest is history now. Hope you enjoy Economics there. Do kkep me posted about how you found there course structure; the teaching etc. I would be glad to know
Take care and all the very best (to both of us) !!

[kushagra452]

Thanks buddy. I have also given alot of thought about all the admits. Have spoken to many people, friends and family. Its very difficult to turn down Columbia, cornell and UPenn (all Ivies). LSE was the only place I applied outside USA and the only econ application. I will go and attend summer school, then take the final call. Have sent my deposit to Cornell as well

Best of luck to you too! Congratulations again for the awesome admits.

Cheers!
kushagra452