LBS logo London experience. World impact.

You choose three from a selection of around 40 elective subjects to tailor your learning experience and explore areas of interest in real depth.

 

Electives draw on the quality, depth and breadth of world-class faculty research. You choose the subjects that map most closely to your interests and learning objectives, and because the elective programme is offered across the full suite of LBS degree programmes, you have the opportunity to learn alongside other students from our MFA, MBA, MiF and leadership programmes – the benefit of learning alongside these students is that you get exposure to their real-world experience. You learn as equals alongside people who bring years of insight to the experience.

 

Expand your network, build a wealth of knowledge and flesh out your professional development.

 

Accounting

  • Advanced Financial Statement Analysis

    Lecturer: Eli Amir


    Cover the fundamentals of financial analysis, evaluate the quality of financial information and use the information to reveal the economics of firms.

  • Financial Statement Analysis

    Lecturer: Shivakumar Lakshmanan and Art Kraft


    Learn how to meaningfully interpret financial reports, construct measures of financial performance and analyse the reporting choices made by companies.
    Financial reports are the primary means by which managers communicate company results to investors, creditors and analysts. They are used to judge company performance, assess creditworthiness, predict future financial performance, and analyse possible acquisitions and take-overs.

  • Systematic Investing

    Faculty: Scott Richardson

    Gain an understanding of the valuation of securities that embed credit risk. With a focus on experiential learning, this course looks at corporate bonds, credit default swaps, credit indices, asset backed securities, emerging hard currency bonds and capital structure.

    Develop a sound knowledge of securities trading conventions, the determinants of the returns of these securities, the role of fundamental analysis and structural models in identifying mispriced credit securities and how risk and transaction costs affect your ability to build a portfolio of credit instruments.

Economics

  • Emerging Markets

    Faculty: Elias Papaiannou and Paolo Surico

    Learn how to evaluate the risks and gains from doing business in the main emerging markets of Eastern Europe, Latin America, South East Asia and Africa using a detailed framework.

  • Global Capital Markets and Currencies

    Lecturer: Hélène Rey


    Obtain tools for assessing the impact of economic policy shocks and financial disturbances on financial markets, exchange rates, and capital flows.
    This elective is perfect for you if you have career interests in investment analysis, asset management, capital markets, hedge funds, corporate finance and the finance/treasury function of corporates. It would also suit you if you are seeking further understanding of the international macroeconomy.

  • World Economy: Problems and Prospects

    Lecturers: Lucrezia Reichlin, Elias Papioannou, Paolo Surico, Andrew Scott and Vania Stavrakeva


    Deepen your understanding of the way the global economy is evolving by considering current topical issues.


    Gain further experience in economic analysis and develop knowledge of what the global economic environment is likely to be five years after graduating.


    Understand the likely behaviour of financial markets and the general business background as well as the issues facing governments in their policy choices.


    If you are seeking a career in finance, international consulting or have a general interest in global issues this is the elective for you.

Finance

  • Advanced Corporate Finance

    Lecturers: Alexander Guembel


    Discover how to apply the theoretical concepts covered in other finance courses to real-world corporate finance problems. Through cases and discussion of topical issues learn how to fill the gap between rigorous finance theory and its application to practical problems.

  • Behavioural Finance

    Lecturer: Samuli Knupfer

    Get a foundation in the two building blocks of behavioural finance:

    Limits to arbitrage – a response to the classic critique of behavioural finance that states irrational traders cannot have a long term impact on financial markets because rational traders will always reverse any dislocations through arbitrage.

    Psychology – understand the most common kinds of errors made by decision-makers through the psychology side of this elective.

  • Credit Risk

    Lecturer: Stephen Schaefer


    Develop an in-depth understanding of credit risk and credit derivatives, with a focus on modelling and valuation. Understand the balance between developing a conceptual framework and market understanding and insight. Learn about topics including: historical default experience and recovery rates, applications of structural models and default-intensity models of credit risk and credit spread options.


  • Financial Engineering and Risk Management

    Lecturer: Suleyman Basak

    Gain the necessary skills to value and hedge a wide variety of derivative contracts. Take a systematic, unified approach to the pricing of derivatives and adopt cutting-edge methods throughout. Continuous-time mathematics is used as the main tool of analysis. The course is necessarily quantitative and symbolically oriented, although practical applications are emphasised.

  • Fintech

    Information coming soon.

  • Fixed Income Securities

    Lecturer: Suleyman Basak

    Undertake a rigorous study of fixed income securities on this quantitative course, which requires some background in calculus and statistics.

    Learn how to manage interest rate risk, how to value securities with cash flows that are sensitive to movements in interest rates and how to determine the optimal exercise policy for a variety of embedded options in fixed income securities. On the course you take the viewpoint of a bond investor or trader, but the course is equally valuable for those working in corporate finance who need to understand similar material.

  • Mergers, Management Buyouts and Other Corporate Reorganisations

    Faculty: Julian Franks or Stefan Lewellen

    Learn about the several forms of corporate reorganisations, including mergers and acquisitions, reorganisation through workouts and bankruptcy, divisional spin-offs and divestitures, and leveraged buyouts.

    Examine the process of managing reorganisation, the role of the investment bank and other specialists, regulation and cross-country comparisons. The course will have a strong conceptual approach, with an emphasis on why mergers and other reorganisations take place, what their role in the economy is, and how they perform from the viewpoint of shareholders and other parties.

    Real case studies and outside speakers will provide the applications of the course.

  • Project and Infrastructure Finance

    Lecturer: Karl Lins


    Acquire a framework for understanding the many ways in which project finance can mitigate specific risks and provide incentives, while also assessing the limitations of such structures.

  • Real Estate Finance

    Lecturer: Joao Cocco


    Gain the concepts and tools you need to understand real estate markets and manage real estate assets with a focus on value creation. Most of the course will focus on commercial real estate. Topics covered include valuation and investment analysis, financing, economic, legal, political and taxation issues and recent trends and challenges.

Management Science and Operations

  • Data Mining for Business Intelligence

    Faculty: Tolga Tezcan and Nicos Savva

    This course covers the emerging field of business analytics (BA) or data mining. Expand and develop your tool kit analysing massive data sets. Using case studies and hands-on data sets, learn advanced data query techniques, data cleaning and organisation. Explore various machine learning techniques including supervised and unsupervised classification schemes, text classification, clustering techniques and predictive analytics. Gain hands-on experience with a variety of software tools, including Tableau and XLMiner.

  • Energy: Markets, Models & Strategies

    Lecturer: Derek Bunn

    Get an introduction to the basics of power system economics, a review of the structural and strategic changes affecting the industry, investment issues and technology choice, a basic understanding of how the competitive markets for electricity, both wholesale and retail, work and how to model their price and implications. The course focuses mainly upon electricity, but is also relevant to students wishing to be familiar with related issues affecting the oil and gas industry.

  • Financial Modelling

    Lecturer: Victor DeMiguel

    Harness the potential of business modelling in assisting management decision-making. 


    Practical computer workshops and modelling projects aim to increase capability in the use of key modelling tools such as advanced spreadsheets and intelligent systems software. Such business modelling skills are regarded as essential by the leading financial and management consultancy firms.

  • Managing Sport and Entertainment

    Lecturer: Chris Voss

    Develop skills and understanding of the strategic, operational and marketing management of sport and entertainment. Enhance your strategic and operational thinking in this rapidly professionalising industry and unlock a potential source of future economic growth.

    The business, product and service concepts developed in this class can be pursued further in other entrepreneurship electives.

  • Supply Chain Management

    Lecturer: Jérémie Gallien

    Understand how to develop and manage efficient and effective global supply chains. In today's globally competitive environment, it is no longer companies but supply chains that compete with each other.

    Leading companies such as Wal-Mart, Procter & Gamble, Dell, Amazon, Zara, GSK, IKEA, Deutsche Post/DHL, as well as highly profitable niche players, use supply chain management in their quest for global market leadership.

    Supply chain management is a cross-functional, cross-company initiative whether working in finance, accounting, marketing, sales or operations. Introduce and familiarise yourself with the concepts and skills necessary for supply chain management as a consultant, analyst or manager.

  • Time Series Analysis

    Faculty: Derek W. Bunn

    Extend your statistical capabilities and critical understanding in the analysis of time series of data.

    Focus on techniques for the medium term analysis and forecasting of business variables, such as sales, costs and earnings.

    Explore many examples from financial and commodity markets as well as several business cases.

    If you were comfortable with the pre-programme or first term statistics course, you will be able to move onto this material without difficulty, despite various advanced regression-based methods being reviewed.

Marketing

  • Creativity in Business

    Faculty: Richard Hytner

    Develop an organisation or brand purpose, reawakening your own creativity and that of your team. This course will allow you to pursue new ideas and fresh, surprising insights capable of transforming and organising a business or brand.

    Assess the resilience of your organisation’s story, and reimagine it to make it better.

  • Pricing Strategy and Tactics

    Faculty: Oded Koenigsberg

    Equip yourself with the fundamental tools and conceptual frameworks needed for making profitable pricing decisions across diverse industries.

    Taking the perspective of the marketing manager, explore both the strategic and tactical dimensions that underlie the process of price management and gain a grasp of useful theories and practical approaches for solving pricing problems.

    While the emphasis is on pricing, this is not independent of other marketing decisions, so an important challenge in this course is to consider pricing decisions in the context of other marketing activities, as well as marketing strategy.

  • Social Media and Internet Marketing

    Faculty: Lil Mohan

    Examine the process of developing, implementing, and analysing strategies for successful marketing of a variety of existing and potential products and services using electronic media.

    Besides well-established internet marketing tools such as e-mail, search engines and display advertising, a substantial part of this course is dedicated to understanding social media, analysing successful social media strategies, and tracking their effectiveness.

    The course offers hands-on experience with some popular – as well as emerging – techniques, unique to electronic media. Special attention is given to metrics appropriate for the new media.

Organisational Behaviour

 

 

  • Inter-Personal Dynamics

    Faculty: Richard Jolly

    Develop your ability to build more effective relationships at work using evidence-based skills.

  • Managing Change

    Faculty: Raina Brands

    Build your understanding of change management and your ability to implement it successfully.

    Change management is an increasingly fundamental part of business and a crucial skill for managers, whether the company is large or small, local or transnational.

    Gain the skills to plan for and cope with change and its implications.

    Coming up with the right strategy is only a small part of organisational success.

    You need to be able to cope with the hardest challenge: getting key stakeholders and people throughout the organisation not just to implement the strategy, but to own it.

  • Negotiation and Bargaining

    Faculty: Ena Inesi, Gillian Ku, Niro Sivanathan, Thomas Mussweiler, Selin Kesebir or Lisa Shu

    Gain a broad understanding of the central concepts in negotiation and develop strategies for analysing and preparing for negotiations.

    Practise negotiation skills, receive feedback on individual negotiation problems and improve your ability to analyse the behaviour and motives of individuals, groups and organisations in competitive situations.

    This course is suitable for anyone who communicates in their daily interactions with other people. It is also useful if you have interests in brand management, real estate, consulting, entrepreneurship or mergers and acquisitions.

Strategy and Entrepreneurship

  • Achieving Strategic Agility

    Lecturer: Julian Birkinshaw


    Learn how to craft strategy when the future is uncertain, fast-changing and unknowable to meet the need for strategic agility to adapt quickly in the face of ever changing market conditions.


    Discover how to structure companies to be more agile and engage and motivate employees across an organisation to help identify and act on opportunities.

  • Advanced Competitive Strategy

    Lecturer: Sendil Ethiraj


    Build a rigorous, analytical, and quantitatively grounded understanding of strategic management by learning strategy from the perspective of a strategist as an integrator on this course.


    An integrator has a good understanding of the different functions in an organisation, how they relate together, and how to effect changes in the organisation that tighten both internal and external consistency.


    This course builds on the foundation you built in your strategy core course - internal and external consistency in choices inherent in a firm’s business model is at the heart of competitive advantage.

  • Entrepreneurial Management

    An exciting opportunity to make your dreams of entrepreneurship a reality. You bring an idea and our faculty (and students) help you to develop, test and trial a concept. Many of our faculty are experienced entrepreneurs in their own right and bring other successful entrepreneurs to speak in class. Students at the School have launched businesses during their time with us, and you could be next.

    This elective is only open to MiM students.

  • Entrepreneurship Summer School

    Faculty: Jeff Skinner

    Work on your own or in pairs on an entrepreneurial opportunity, with a skilled mentor to guide you. Learn the entrepreneurial way of life, gain self-awareness of entrepreneurial visions and identify what is necessary to pursue them. Develop and apply the skills required to contribute to successful entrepreneurial practice, and build a network of key contacts.

    Please visit the Entrepreneurship Summer School web pages for more information.

  • Family Business: A Guide for Owners, Managers and Advisors

    Family firms make up around 70% of businesses worldwide and account for a substantial proportion of GDP. Many of the world’s leading corporations originated as family firms, and retain cultural distinctiveness as a result. In some parts of the world, such as South Asia and the Far East, family firms occupy the commanding heights of the economy. Yet they are neglected in the management literature, and often treated as if they were a relic of the past. However, as the current financial crisis is illustrating, with their long time scales, adaptive cultures, and vision-led leadership many are much better fitted to survive the downturn in good shape than many PLCs.

    Yet, we also know that family firms are vulnerable to challenges and conflicts they seem unique to them. It is probably true that the firms that can face up to and master these challenges emerge as “annealed” (the process by which heating metal permanently raises its strength and resilience). So the question is what do family firms have to do to capture their unique benefits and master their special challenges.

    This will be an intensely practical course, but founded on a solid knowledge base, making extensive use of mini cases and guest speakers.

  • Growing Social Enterprises

    The course sets out to explore what is unique about social enterprises. This new organizational form holds the promise of tackling some of society’s thorniest problems that traditional businesses have ignored in more efficient ways than traditional charities. For investors, it represents an evolution in corporate philanthropy as the original intent to contribute to society is fused with an investment approach to capital allocation. As a result, substantial amounts are directed toward the nascent market in social impact investing. Are the conditions present for this market to grow systematically or is this a passing fad? Are the entrepreneurial and management skills necessary to start and manage social enterprises different from those required for either traditional businesses or charities? What options are available to social businesses when their self-interest conflicts with their pursuit of social impact?

    This course aims to provide students with the analytical frameworks and tools for creating, managing, or investing in business ventures that tackle social issues. It will establish a solid understanding of the context in which social enterprises thrive and will debate topics that are relevant to investors, entrepreneurs, and managers in this field. The increased interest in this area has brought about new legal forms, specialist fund providers, and intricate assessment criteria. It has highlighted the importance of scaling up as an issue that is crucial to investors and challenging to stakeholders and managers. In this context organizational governance plays a vital role to resolve tensions that arise between social and private ends and to preserve the identity of a social enterprise.

  • Managing the Growing Business

    Faculty: Rupert Merson and Keith Willey

    Examine a range of entrepreneurial businesses and gain the ability to recognise the patterns in business models and management processes.

    Learn how to manage the risks and convert opportunities on this integrative course that concentrates on the general management challenges facing founders or managers in entrepreneurial businesses.

  • New Technology Ventures

    Faculty: Michael Davies and Keith Wiley

    Explore how entrepreneurs identify and analyse the feasibility of innovative technical ideas, turn them into products and services and take them to market.

    Where do sources of technological opportunities originate? How are innovations incubated? What do patterns of technological change suggest? Why and how does the culture of innovation matter? How do you protect intellectual property? How do you finance for new technology ventures?

    In exploring these issues and others, you become acquainted with leading technologies from various sectors.

  • New Venture Development

    Faculty: Rupert Merson

    Get an overview of the process and challenges associated with starting an entirely new business, the skills required to prepare a persuasive business plan, approach prospective investors and launch your venture.

    Gain a clear understanding of how to assess an entrepreneurial opportunity, the resources needed to start a new business and the costs and challenges involved.

    Give an entrepreneurial bias to your career using this course as a springboard.

    A number of graduates who have taken the New Venture Development course and gone on to set up their own business or pursued careers in venture capital.

  • Strategic Innovation

    Lecturer: Costas Markides


    Develop an understanding of how a company can discover a new business model and how it can successfully migrate from its current position to the new.

    Explore why established companies find it so difficult to innovate strategically and what they can do to improve the odds of success.

    Gain an understanding of the circumstances where it makes sense for established companies to strategically innovate.

  • Strategies for Growth

    Lecturer: Freek Vermeulen

    Get answers to the question that keeps most top executives awake at night: "where should tomorrow's growth come from?"

    Learn how to create the growing firm, and how growth strategies are not always 'designed' by managers but emerge from within an organisation.

    Analyse how effective managers organise their companies to achieve continuous, organic growth.

    Examine the firm's formal strategic choices, its internal organisational environment, the process of growth, and the role of historical accident and the background and personality of the managers involved.

    You will learn how, as a manager, you can shape your organisation to deliberately manage and control the growth process of the firm.

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