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Law and Economics

Master of Laws ( 1 year Full-time / 2 years Part-time )

Overview

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. The programme offers a rigorous training in theoretical and applied economic analysis as a means of analysing law and the legal framework.

You will have the chance to meet cutting-edge practitioners in banking, finance and law and engage in an academic year-long Investment Club where you can gain hands on experience in trading and portfolio analysis alongside your studies.

This course is ideal for you if you are already in, or plan a career in, law or economics in academia, the public sector, international institutions, the financial or legal industry or consulting.

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.

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.

High profile guest lecturers teaching on the courses have recently 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.

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.

You will have invaluable contributions from respected City practitioners and industry experts including banks, fund management businesses, who also teach students, bringing practical insights in to the classroom by applying the theory to real world scenarios.

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.

State-of-the-art facilities such as a virtual trading floor, which provides exclusive access to the latest technology and financial software used in the banking and finance industry, and access to specialised financial and economic databases and software used by economists in finance or in government for data analysis and simulation.

Facilities

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.

IT Software

  • 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.

Computers rooms

  • 2 computers labs with 70 PC s and designated printers.

Trading Room

  • Designated Trading Room offering training and access to Reuters, Bloomberg, Interactive Brokers Trader Workstation (TWS) and FXCM FX Trading Station.

Structure

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

Modules

For the LLM in Law and Economics you take a total of 180 credits to include the two compulsory modules and the dissertation with the remaining 90 credits 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.

Jurisprudence Pathway:

  • Pre-sessional course in mathematics and statistics (optional)

Compulsory modules

Optional modules

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

Economics Pathway:

  • Pre-sessional course in mathematics and statistics (optional)

Compulsory modules

Optional modules

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.

For more information

Contact

Programme Administrator
Maya Davis, LLM Law and Economics Administrator
email: llm-economics@qmul.ac.uk
Tel: +44 (0)20 7882 7228

Academic Coordinator
Dr Rodrigo Olivares-Caminal
email: r.olivares-caminal@qmul.ac.uk

Entry requirements

A 2.1 honours degree in Law or Economics or overseas equivalent and/or relevant professional qualification and/or experience. 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. You can find details on our English language entry requirements.

If you do not meet language or scholarly requirements it might be possible for you to undertake foundation or pre-sessional programmes that will prepare you for the masters programme. For more information, please contact the Admissions Office.

 

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.

Independent study

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.

Assessment

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.

Dissertation

You will also complete a dissertation of 15,000-words.

Teaching Staff who contribute to this programme include:

School of Economics and Finance

School of Law

Fees

Tuition fees for Home and EU students

2014 entry
Full time £12,600

Tuition fees for International students

2014 entry
Full time £18,000

Funding

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
email bursaries@qmul.ac.uk

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:

Tel: +44 (0)20 7882 8717

Graduate Employment

Profiles

Lucila Lobo, Brazil

Lucila Lobo

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

Ayah El Said

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.


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