The LLM Law and Economics is a joint programme offered by the Centre for Commercial Law Studies and the School of Economics and Finance at Queen Mary University of London. It is a specialist programme which aims to provide rigorous training in theoretical and applied economic analysis as a means of analysing law and the legal framework. It is designed for students with an academic background in Law or Economics.
This Masters in Law course will enable lawyers to master a new discipline and to consider financial and economic dilemmas, and allow economists to comprehend the rationale for regulation and how to think like a lawyer.
This programme will:
- Enhance your career options by allowing you to specialise in the highly sought after interdisciplinary areas of law, economics and finance.
- Provide you with the theory, knowledge, practical skills and latest developments required to work in both emerging and established economies in legal, banking, financial, governmental or research institutions.
- Give you the chance to meet leading practitioners in banking, finance and law.
Similar to the new Diploma in Law and Economics and Certificate in Law and Economics programmes, this course is presented with a fully integrated careers programme and extensive industry links that aim to maximise students' employment prospects.
Institute of Global Law, Economics and Finance
The Institute for Global Law, Economics and Finance (IGLEF) at Queen Mary is a forum for stimulating and conducting interdisciplinary research and disseminating knowledge on the areas of law, economics and finance.
Why study your LLM in Law and Economics at Queen Mary?
The School of Law is firmly established as a centre of national and international excellence in legal studies and research, with leading academics in the field of banking, finance, regulation, insolvency, international commercial law and insurance law, including Professors Rosa Lastra, Philip Rawlings, George Walker, Rodrigo Olivares-Caminal and Dr Leon Vinokur.
The School of Economics and Finance is one of the top economics schools in the country, with particular expertise in economic theory, econometrics and finance, and applied economics including Professors Francis Breedon, Emmanuel Guerre, Marco Manacorda, Xavier Mateos-Planas, Dr Leone Leonida and Dr Ioannis Kokkoris.
High profile guest lecturers teaching on the courses have included Sean Hagan, General Counsel and Director of the Legal Department at the International Monetary Fund (IMF), Graham Nicholson, Chief Legal Advisor, Bank of England, Mr Lee Buchheit, Partner, Cleary Gottlieb Steen & Hamilton LLP, USA.
You will have access to an unparalleled set of optional short courses designed to equip you with further practical training and key technical skills that are highly valued in the Financial Sector.
Hui Zheng, Allen & Overy, gave a guest lecture on this programme. He said:
“Mastering the complexities of economics and finance is essential for anyone intending to become an effective international corporate or banking lawyer”
You will have access to facilities and equipment at both Schools, including the Postgraduate School of Law Centre in Lincoln's Inn Fields, Holborn, based in the legal district of London, which comprises of workstations, wireless internet access, projectors and a common room.
As well as housing the Law Library and a European Documentation Centre, the Queen Mary Library at Mile End provides access to all the main British, European and international textbooks, law reports and periodicals and also offers one of the best commercial law collections in the country. Through the University of London College network, students have access to an unrivalled range of electronic law journals and databases.
In addition, Queen Mary provides free access to extensive online databases and collections including: Lexis, Nexis, Westlaw, Justis, Eur-lex, Hein-Online, Business Source Complete, Index to Legal Periodicals, International Court of Justice Reports, Kluwer Arbitration, Oxford Scholarship Online (Law), Reports of Patent, Design and Trademark Cases, UK Statute law database and United Nations Treaty Collection.
You will be able to access the well-stocked law library at the University of London’s Institute of Advanced Legal Studies (IALS). The Institute, located at Russell Square, a few minutes’ walk from Lincoln’s Inn Fields, is one of the major law libraries worldwide. You will also have access to the University of London Library at Senate House.
The School of Economics and Finance is able to offer excellent facilities and resources to its students.
- Real Time Data/Trading Software: Queen Mary is one of the few UK universities offering training and access to both Reuters and Bloomberg trading terminals (in our designated trading room) as well as Interactive Brokers Trader Workstation (TWS) and FXCM FX Trading Station.
- Time Series Data Software: A full range of economic and financial data is available through DataStream, Macrobond and the WRDS platform (including Bankscope and CRSP).
- Statistical Analysis Software: A wide range of Econometric software including Eviews, Stata, Matlab, Gauss etc.
- 2 computers labs with 70 PC s and designated printers.
- Designated Trading Room offering training and access to Reuters, Bloomberg, Interactive Brokers Trader Workstation (TWS) and FXCM FX Trading Station.
The LLM in Law and Economics is available to study full-time for one year or part-time over two years.
The programme of study provides a flexible mix of classroom based teaching (assessed by formal examinations and/or coursework) through:
- An introductory pre-sessional in mathematics and statistics
- Two compulsory taught modules which lay a foundation to Law and Economics theories
- A 15,000 word dissertation
- Choice of optional law and/or economic modules
Kate Allen, Joint Programmes’ Administrator (LLM Law and Economics / MSc Law and Finance)
Tel: +44 (0)20 7882 7228
Dr Rodrigo Olivares-Caminal
For the LLM in Law and Economics you take a total of 180 credits. The two compulsory modules and the dissertation have a value of 90 credits. The remaining 90 credits are going to be selected from the range of law or economics modules.
You may study on one of two pathways: Jurisprudence, if you have a legal background or an undergraduate degree in law; or Economics, if you have an economic/finance background or have an undergraduate degree in economics or finance.
If you want to review concepts such as statistical distributions and matrix algebra, you also have the option to attend pre-sessional modules during induction week (week zero) and week one of the first term within the School of Economics and Finance. You will be also presented with basic statistics and statistical software during the first term.
The updated module list below represents the result of our ongoing modularisation of the LLM which is intended to offer students greater flexibility and choice of module options.
You are required to balance your taught modules equally across the two teaching semesters – a full explanation of this process will be available during induction and before module selection.
- Pre-sessional course in mathematics and statistics (optional)
- Law and Economics I (for Lawyers) - 22.5 credits
- Law and Economics II - 22.5 credits
- Dissertation – 45 credits
A further 90 credits from the optional law and/or economic modules:
- 90 law credits. Or,
- 90 economic credits. Or,
- Combination of 45 credits in law and 45 credits in economic modules
- Pre-sessional course in mathematics and statistics (optional)
- Law and Economics I (for Economists) - 22.5 credits
- Law and Economics II - 22.5 credits
- Dissertation - 45 credits
A further 90 credits from the optional law and/or economic modules:
- 90 law credits. Or,
- 90 economic credits. Or,
- Combination of 45 credits in law and 45 credits in economic modules.
The options offered in a particular year will be drawn from the following list. Please note that this list is representative, though not exhaustive and not all options will be available every year.
- ECOM001 Macroeconomics A
- ECOM002 Microeconomics A
- ECOM003 Econometrics A
- ECOM009 Macroeconomics B
- ECOM010 Microeconomics B
- ECOM027 Labour Economics and Public Policy
- ECOM032 Econometrics B
- ECOM035 International Finance
- ECOM038 Behavioural Finance
- QLLM025 E-Commerce Law (45 credits)
- QLLM044 International and Comparative Competition Law (45 credits)
- QLLM060 International Merger Control (45 credits)
- QLLM062 International Tax Law (45 credits)
- QLLM069 Law of Finance and Foreign Investment in Emerging Economies (45 credits)
- QLLM094 UK Competition Law (45 credits) (Not running 2016-17)
- QLLM124 European Union Competition Law (45 credits)
- QLLM128 Telecommunications Law (45 credits)
- QLLM150 Strategic Decision Making for Lawyers (Sem 1)
- QLLM155 Principles of Regulation (Sem1)
- QLLM164 Elements of Islamic Law (Sem 1)
- QLLM165 Islamic Finance and Commercial Law (Sem 2)
- QLLM178 Competition Law, Intellectual Property and Innovation (45 credits)
- QLLM305 Cartels, Collusion and Competition Law (Sem 1)
- QLLM306 Competition enforcement: From investigation to sanctions (Sem 2)
- QLLM307 Economics of Competition Law (Sem 1)
- QLLM310 Compliance in Global markets (Sem 2)
- QLLM328 Digital Intellectual Property Law (sem 1)
- QLLM329 Informational Technology Transactions (sem 2)
- QLLM330 Comparative Copyright Law (sem 1)
- QLLM331 International Copyright: International Treaties and Cross-Border Litigation (sem 1)
- QLLM332 Comparative Law of Patents and Trade Secrets (sem 1)
- QLLM333 International Law of Patents and Related Rights (sem 2)
- QLLM338 International and Comparative Law of Unfair Competition (sem 1)
- QLLM339 The Law of Registered Trade Marks (sem 2)
- QLLM340 Global Intellectual Property: Fundamental Principles (sem 1)
- QLLM341 Global Intellectual Property: Technology and Policy (sem 2)
- QLLM358 Cyberspace Law: Internet Jurisdiction and Dispute Resolution (sem 2) (not running 2016-17)
- QLLM359 Cyberspace Law: Protecting the Online Persona: Digital Rights in Cyberspace (sem 2) (not running 2016-17)
- QLLM360 Banking Law: International (sem 1)
- QLLM361 Banking Law (sem 2)
- QLLM362 International Finance Law (sem 1)
- QLLM363 International Finance Law Applied (sem 2)
- QLLM366 Regulation of Financial Markets (sem 1)
- QLLM367 International Financial Regulation (sem 2) (Not running 2016-17)
- QLLM368 Corporate Rescue and Cross-border Insolvency (sem 1)
- QLLM369 Financial Distress and Debt Restructuring (sem 2)
- QLLM370 WTO Law: Market Access and Non-Discrimination (sem 1)
- QLLM371 WTO Law: Trade Remedies and Regulatory Issues (sem 2)
- QLLM372 Corporate Finance Law (sem 1)
- QLLM373 Mergers and Acquisitions (M and As) (sem 2)
- QLLM374 Law and Ethics in Finance (sem 1)
- QLLM375 Corporate Governance and Responsibility in Finance (sem 2)
- QLLM376 International Economic Law (sem 1)
- QLLM377 EU Financial and Monetary Law (sem 1)
- QLLM378 Securities Regulation (sem 2)
- QLLM392 International Commercial Arbitration (sem 1)
- x CCLE019 Accounting for Lawyers (Sem 1)
- x CCLE021 International Macroeconomics for Lawyers (Sem 1)
- x CCLE026 Financial Models and Derivatives in a Legal Context (45 credits)
- x CCLE027 Financial Models and Application to Corporate Finance (45 credits)
The usual qualification for entry to the LLM in Law and Economics programme is a degree in Law or Economics (Finance) or overseas equivalent, of at least 2.1 honours (or equivalent). Graduates with a good 2.2 honours who also have other legal qualifications and/or substantial professional legal experience may also qualify.
In all cases, a full online application is required in order for a fair assessment and decision to be made. Each application is considered on its merits and on sight of full application documents. A full and detailed CV is required for all applications and is particularly relevant where professional experience needs to be considered.
Non-native English speakers are required to have a minimum of IELTS 7 or equivalent.
International applicants:Students from outside of the UK help form a global community here at Queen Mary. For detailed country specific entry requirements please visit the International section of our website. If your first language is not English, you must provide evidence of your English language proficiency. Find details of the English language entry requirements for postgraduate law programmes.
Any student who scores 6.5 or below in the IELTS Writing component (or equivalent) is required to attend the Queen Mary in-sessional Critical Thinking and Writing in Law Programme; this programme is free to QM students and runs in terms 1, 2, and 3. Students with higher English language scores may join this programme is they wish. See QMUL's Language and Learning website for more information.
Learning and teaching
As a student at Queen Mary, you will play an active part in your acquisition of skills and knowledge. Teaching is by a mixture of formal lectures and small group seminars. The seminars are designed to generate informed discussion around set topics, and may involve student presentations, group exercise and role-play as well as open discussion. We take pride in the close and friendly working relationship we have with our students. You are assigned an Academic Adviser who will guide you in both academic and pastoral matters throughout your time at Queen Mary.
For every hour spent in classes you will be expected to complete further hours of independent study. Your individual study time could be spent preparing for, or following up on formal study sessions; reading; producing written work; completing projects; and revising for examinations.
The direction of your individual study will be guided by the formal study sessions you attend, along with your reading lists and assignments. However, we expect you to demonstrate an active role in your own learning by reading widely and expanding your own knowledge, understanding and critical ability.
Independent study will foster in you the ability to identify your own learning needs and determine which areas you need to focus on to become proficient in your subject area. This is an important transferable skill and will help to prepare you for the transition to working life.
In addition to the dissertation, each taught half-module will be assessed by a two-hour unseen written examination and each taught full-module by a three hour unseen written examination.
You will also complete a dissertation of 15,000-words.
Teaching Staff who contribute to this programme include:
School of Economics and Finance
- Nizar Allouch
- Professor Francis Breedon
- Andrea Carriero
- Giulio Fella
- Ana Galvao
- Professor Emmanuel Guerre
- Leone Leonida
- Professor Marco Manacorda
- Daniela Tavasci
- Chris Tyson
- Roberto Veneziani
School of Law
- Professor Stavros Brekoulakis
- Dr Gail Evans
- Dr Fima (UCL)
- Professor Anne Flanagan
- Dr Gabriel Gari
- Jonathan Griffiths
- Dr Christiana HJI Panayi
- Professor Julia Hörnle
- Professor Rosa Lastra
- Dr Rafael Leal-Arcas
- Professor Julian Lew
- Professor Llewelyn (KCL)
- Professor Spyros Maniatis
- Professor Duncan Matthews
- Professor Loukas Mistelis
- Professor Rodrigo Olivares-Caminal
- Dr Tom O'Shea
- Professor Philip Rawlings
- Professor Chris Reed
- Graham Roberts
- Dr Costanza Russo
- Dr Dorit Samuel
- Dr Noam Shemtov
- Adrian Sterling
- Professor Uma Suthersanen
- Joy Svasti-Salee
- Professor Ian Walden
Fees are charged at a Home/EU rate for UK and EU nationals, and an overseas rate for International students - find out more about how your tuition fee status is assessed.
There are a number of sources of funding available for Masters students.
These include a significant package of competitive Queen Mary bursaries and scholarships in a range of subject areas, as well as external sources of funding.
School of Law scholarships
The School of Law offers a range of scholarships for Law Masters programmes each year. Full details are made available on the law funding page from October – November each year.
Queen Mary bursaries and scholarships
We offer a range of bursaries and scholarships for Masters students including competitive scholarships, bursaries and awards, some of which are for applicants studying specific subjects.
Read more about funding a masters
Alternative sources of funding
Home/EU students can apply for a range of other funding, such as Professional and Career Development Loans, and Employer Sponsorship, depending on their circumstances and the specific programme of study.
Overseas students may be eligible to apply for a range of external scholarships and we also provide information about relevant funding providers in your home country.
Detailed information about postgraduate funding options is available in our Postgraduate Funding Guide (pdf).
Read more about funding a masters.
Tel: +44 (0)20 7882 5079
Other financial help on offer at Queen Mary
We offer one to one specialist support on all financial and welfare issues through our Advice and Counselling Service, which you can access as soon as you have applied for a place at Queen Mary.
Our Advice and Counselling Service also has lots of Student Advice Guides on all aspects of finance including:
- Postgraduate Funding (pdf)
- Planning your budget and cutting costs (pdf)
- Part-time and vacation work (pdf)
Tel: +44 (0)20 7882 8717
The LLM in Law and Economics provides a really good combination of theory and practice. Professors taught us the legal concepts using real case studies of things that were happening in real life, such as the Greek crisis and Argentina’s default, among other current cases. Another strong point was that the programme has a very practical international perspective. The programme did not focus too much on the black letter of domestic statutes or judicial precedents but on a more global and holistic approach.
The student mix is very international, and it’s useful that the professors gave us a broad overview of the law in practice, going beyond legislation and precedents. This greater understanding of the law will be a great asset to me as I progress in my global career.
I can state that my goals and expectations while studying at Queen Mary University of London were exceeded. In the LLM I learnt about the interaction between law and economics but more importantly, it taught me to think like a lawyer, to be critical and inquisitive as well as proactive and creative when trying to find a solution.
I am currently working as a foreign associate in Kirkland and Ellis' New York office. This is my first time in a big international law firm and I do not know in detail US law, however it does not matter because I think that the skill set that I acquired during the LLM equipped me with the proper tools to face any professional challenge in the future.
Ronald Chari, Zimbabwe
LLM in Law and Economics, Chevening Scholarship Winner 2014-15
I am studying for the Masters in Law and Economics programme at QMUL which is jointly offered by the Centre for Commercial Law Studies and the School of Economics and Finance. Prior to enrolling at QMUL I worked as legal counsel for a research and advisory firm based in Zimbabwe where I gained experience in providing technical legal assistance mostly on regulatory reform to public sector entities. The complexity of some of the assignments that I undertook motivated me to pursue an interdisciplinary postgraduate degree that would enhance my ability to apply the law in solving economic and financial dilemmas. This is why I chose to study for the LLM in Law and Economics.
The program has given me an insight and understanding of the key law and economics principles applicable to decision making on issues such as financial regulation, investment and structuring complex financial transactions.
In addition to the compulsory economics modules, I chose to specialise in Regulation of Financial Markets, Law of Finance and Investment in Emerging Markets and in Legal Aspects of International Finance. I also enrolled for the Finance Trading Programme which is a course offered by the School of Economics and Finance to provide students with a theoretical and practical understanding of financial markets and trading strategies.
What attracted me to QMUL was the fact that its law school is highly ranked (3rd in the rest of the UK and 1st in London) and also because of its convenient location in London - at the centre of arguably the financial capital of the world. In addition to this I am happy to say that I am also impressed by the teaching and academic excellence at QMUL. Not only are we taught by the highly qualified academics based at QMUL, but we also have the privilege of interacting with leading experts in the field of economics, banking, finance, insolvency and regulations who come in as guest lecturers to share with us their practitioners’ perspectives on some topical issues.
All in all, my experience at QMUL thus far has been a pleasant one and I am very grateful to the Chevening Scholarship for awarding me the scholarship. I would recommend QMUL to anyone who wants to study for a postgraduate degree in Law and Economics.
Qi Wen Tang, Malaysia
LLM in Law and Economics, Chevening Scholarship Winner 2014-15
The 1997 Asian financial crisis sparked my interest in economics and the subprime mortgage crisis in 2007 exposed me to the challenges of regulation, governance and accountability.
I graduated in Law with Second Class Upper Honours from the University of Reading, UK, in 2008. I then returned to Malaysia to complete the Certificate of Legal Practice and was thereafter admitted to the Malaysian Bar in 2010. I was in active legal practice for close to 3 years, spending most of my time in litigation and dispute resolution, before joining the Securities Commission Malaysia as a Securities and Capital Market Regulator.
My experience as a Regulator reinforced the realisation that an understanding of economics and finance is crucial, as these disciplines overlap with law. I found myself lacking the necessary knowledge to connect the dots and properly consider the impact of rules and legal frameworks in a holistic manner.
I was drawn to the LLM Law and Economics programme at Queen Mary University of London (QMUL) as it is a joint programme offered by the Centre for Commercial Law Studies and the School of Economics and Finance. Besides its reputation as being ranked the number 1 law school in London and the 3rd best in the UK, this programme allowed me to create a compelling and rigorous combination of specialised law modules while at the same time learn about economics, finance and accounting. I believe that this course will enable me to fully comprehend the relationship between law and economics. This, I hope, will enable me to significantly contribute to the development and regulation of Malaysia’s legal landscape and financial markets in the near future.
As a graduate student at QMUL, we have the opportunity of working with academics who are world-renowned leaders in their fields, academic staff who are approachable and committed to seeing us succeed, given tools to help us develop knowledge, and facilitate discussions and challenge the status quo.
I am extremely impressed with the quality of intellectual discourse and the interchange of ideas between students from diverse backgrounds and the academics, which include visiting professors and leading practitioners. We have had the privilege of attending lectures by Professor Charles Goodhart, the world’s expert on central banking and Mr Lee Buchheit, an attorney based in New York and a leading practitioner in the area of sovereign debt management and restructuring. Interestingly, Mr Buchheit’s vast experience saw him act as lead counsel in Greece and Argentina’s debt restructuring initiatives!
Furthermore, the University invests in its students. The facilities that we have are world-class. We have access to one of the best law libraries in the world at the Institute of Advanced Legal Studies, University of London. Being enrolled on this joint programme QMUL, I have the opportunity of attending a practical, certified course in Finance Trading which complements theoretical knowledge of the classroom. At QMUL, the Career Services Group are experienced and dedicated to providing individual advice sessions to ensure that each student’s needs are met. There is generally good all-round support for students and the teaching staff are very approachable.
I am eternally grateful to have been awarded a Chevening Scholarship, the UK government’s global scholarship programme, funded by the Foreign and Commonwealth Office (FCO) and partner organisations, to pursue my LLM here at QMUL.
Lucila Lobo, Brazil
FGV Direito Rio / FGV Direito GV Sao Paulo Winner of the CCLS Scholarship 2013-14
My experience as in-house counsel in the regulatory law department of Brazil´s largest telecommunication company 'Oi S/A' taught me that framing issues involving public interest in purely legal terms is not enough.
The complexity and nature of the work I have been involved in convinced me that there is a compelling argument for legal practice to pivot towards a more pragmatic and flexible mind set. A more creative approach to resolving conflicts of interest and a greater willingness and ability to carefully evaluate the position of all parties involved in legal negotiations should generate greater value for all.
This experience motivated me to look for different tools, grounded in economic theory, to tackle contentious legal issues. This is why I have decided to pursue a Law and Economics LLM at Queen Mary. The programme provides the essential instruments to develop a sound understanding of key economic principles through the core courses which cover microeconomics and behavioural economic foundations. When I return to legal practice, I will be able to unlock new solutions by bringing to bear an economic-analytical perspective as well as broadening the debate beyond the traditional theoretical model of justice and equity to include a consideration of efficiency and costs.
In addition, my colleagues' economic background as well as their international / multi-jurisdictional experiences also creates a challenging study environment. Classes are interactive and everybody is invited to share their point of view and to participate in case-studies. This has to be the best way to develop a legal mind set and to enhance my problem solving capabilities.
Ayah El Said, Egypt
LLM in Law and Economics Bursary Winner 2012-13
I am an Egyptian economist, with a BA in Economics from the American University in Cairo, where I was the top student in the major, and an MA in Economics from New York University (NYU) where I was a Fulbright Scholar. I spent the last few years after my time at NYU working as an emerging markets economist in two economic and financial consultancies in New York and London (Roubini Global Economics and Arabia Monitor), having previously worked at the World Bank and the Central Bank of Egypt. My research areas of interest include international finance, monetary economics and financial development, and during my time at NYU, I was exposed to the literature on the role of institutions, and how countries with better, and more advanced, legal systems tended to have better financial systems, which fostered economic growth. This paved the way for my interest in law and economics.
As a professional economist, I was exposed to the impact of the global financial crisis on emerging markets, and the important role played by legal and regulatory institutions in mitigating the worst of the crisis, and as an Egyptian witnessing her own country's uprising, I had a first-hand experience with the importance of legal and regulatory environment in terms of how it affects investor sentiment, and how the lack of it could prove to have dire effects on any economy. Law and Economics is a field that has been gradually growing but I could not find one such program that would fit my background. I came across Queen Mary's new LLM in Law and Economics program at a time when I wanted to return to graduate school, and specialise in law and economics, and this program seems to be the perfect stepping stone to lead me to the area that I would like to specialize in. As an economist with no legal background, I was taken to the very basics of different legal subjects, laying the necessary foundations that would equip me to combine both law and economics in a growing area where is high demand for such calibre and not enough supply. My interest in international finance made Queen Mary an even more appealing option for me given its strong reputation in finance and banking law , and my only regret is that there is not enough hours in the day that would make me audit- or simply read- material from other classes since the variety of courses offered, that are of interest to me, is unprecedented. It has truly been a wonderful experience, and the faculty members' dedication and hard work put in this program adds much more to it all.
Dr Gabriel Gari to speak at 2014 ICTSID - WTI conference
22 November 2014