The London School of Economics and Political Science, more commonly referred to as The London School of Economics or LSE, is a world leading specialist constituent college of the University of London in London, England.
It was founded in 1895, and officially joined the federal University in 1900 as the Faculty of Economics, beginning to issue its degrees from 1902. Today it is regarded as one of the world's leading academic institutions and remains a specialist single-faculty constituent college of the University, the only such institution in Britain. Located on Houghton Street in Westminster, off the Aldwych and next to the Royal Courts of Justice and Temple Bar, it describes itself as "the world‘s leading social science institution for teaching and research".
The School is a member of the Russell Group, the European University Association, Association of Commonwealth Universities, the Community of European Management Schools and International Companies, The Association of Professional Schools of International Affairsand Universities UK as well as the Golden Triangle of British Universities, and most recently the 'G5 Group' of Britain's five leading universities.
History
LSE was founded in 1895. The decision to create the School was made by four Fabians at a breakfast party at Borough Farm, near Milford, Surrey, on 4 August 1894. The four were Beatrice and Sidney Webb, Graham Wallas and George Bernard Shaw.
LSE was founded after a bequest to the Fabian Society of some £20,000 by Henry Hunt Hutchinson. The Hutchinson bequest coincided not just with the Fabians' ideas but also with a wider movement in society.
The aim of the School was the betterment of society. By studying poverty issues and analysing inequalities, the Webbs sought to improve society in general. Sidney Webb in particular, noted Beatrice in her diaries, had a vision of 'a centre not only of lectures on special subjects but an association of students who would be directed and supported in doing original work.' Other donations were solicited to add to the Hutchinson legacy and the School developed rapidly through private philanthropy.
LSE held its first classes in October 1895 in rooms in John Street, moving a year later to 10 Adelphi Terrace. In 1900 LSE was recognised as a faculty of economics in the newly-constituted University of London and in 1901 the Faculty degrees were announced as the BSc (Econ) and DSc (Econ) - the first university degrees principally dedicated to the social sciences.
In 1902 the School moved formally to its present site, in Clare Market and Houghton Street, off the Aldwych. In May 1920 King George V laid the foundation stone of the Old Building.
The School's motto was adopted in February 1922. Suggested by Professor Edwin Cannan from Virgil's Georgics, the phrase rerum cognoscere causas means to know the causes of things. The industrious beaver emblem was chosen in the same year.
Library and IT
The British Library of Political and Economic Science (BLPES) is currently the world's largest library solely dedicated to the social sciences, containing over 4.7 million volumes on its shelves. This also makes it the second largest single entity library in Britain, after the British Library at King's Cross. The Library collects material on a worldwide basis, in all major European languages. The extensive collections range from a European Documentation Centre to 90,000 historical pamphlets, with over 95 per cent of Library stock available on open access. 50 kilometres of shelving - enough to stretch the length of the Channel Tunnel! - accommodate over four million printed items including 31,000 past and present journal titles.
The Library subscribes to approximately 20,000 e-journals, as part of its electronic information provision.All collections held at LSE in the Library have been recognized for their outstanding national and international importance and awarded ‘Designation’ status by the Museums Libraries and Archives Council. IT Services provides the services, facilities, support and training to support the teaching, learning, research and administrative activities of the School.
Campus
The LSE moved to its present day central London campus at Clare Market and Houghton Street in 1902 . In 1920, King George V laid the foundation stone of the Old Building, the principal building of the LSE. The School has gradually increased its ownership of adjacent buildings, creating an almost continuous campus between Kingsway and the Royal Courts of Justice.
Today, the campus consists approximately thirty buildings, connections between which have been established on an ad-hoc basis with often confusing results. The floor levels of buildings do not always equate, leading to an individual being on a different "floor" after passing through a hallway. The campus also has a series of extension bridges between buildings created high on the upper floors to connect several buildings. The campus has often been referred to as an M.C. Escher maze. The school is also noted by its numerous statues, either animals or surrealist, often donated by alumni.
Currently, the School is about to complete work on the former Public Trust Building on Kingsway, which was purchased by the LSE in 2005. Opening in June 2008, the Lincoln's Inn Fields Building, will become one of the most environmentally friendly university buildings in the UK. With an entrance overlooking Lincoln's Fields, the new space will dramatically increase the size of the campus, incorporating four new lecture theatres, the Departments of Management and Law, computer and study facilities, meeting places and a huge glass atrium in the centre of the building, as well as a roof terrace with spectacular views over Covent Garden and the Aldwych, and The City of London.
Academic Reputation
The LSE is widely and globally accepted as being the most prestigious social science Institution in the world. It is considered, in professional circles, to be the best Institution in the world for the study of the disciplines that pertain to the social, political and economic sciences.
The LSE has an 'international reputation in the UK that only Oxbridge can beat'.
In the 2007 THES - QS World University Ranking. LSE was ranked "3rd in the world" after Harvard and Berkeley for the social sciences (3rd in 2006, 2nd in 2005 and 2004), "26th in the world" for arts and humanities (19th in 2006, 9th in 2005, 10th in 2004). The study of social, economic and political problems covers not only the UK and European Union, but also countries of every continent. From its foundation LSE has aimed to be a laboratory of the social sciences, a place where ideas are developed, analysed, evaluated and disseminated around the globe... LSE has an outstanding reputation for academic excellence.
The latest national Research Assessment Exercise (RAE 2008) sponsored by the UK government, ranks the LSE as joint-second (with Oxford) by grade point average across the fourteen units of assessment it submitted. The RAE results also rank the LSE as the UK's top university in Anthropology, Economics, Politics, Law, Social Policy and European Studies. The LSE, in various leading Newspaper University guides, is often ranked No.1 in the UK for the Study of Politics (correlating to the LSE's world leading reputation in both Economic and Political Science). The Independent Newspaper placed LSE first in the country for its research, on the basis that 35% of its faculty were judged to be doing world leading work, compared to 32% for both Oxford and Cambridge respectively (The Independent, December 18, 2008). Over 68% of research was given a 4* (world leading) or 3* (internationally excellent) grading, whilst the economics department was the strongest department of any mainstream subject in the country.
In two of the three major league tables for British universities (The Times and Sunday Times), the LSE is ranked second in the strength of its research ratings, behind only Cambridge. Additionally, the LSE submitted 97% of academic staff for assessment, more than any other university. The LSE ranks 1st amongst the colleges of the University of London federation.
In 2007, the MSc Management programme was ranked 2nd in the world by the Financial Times' European Masters Ranking (8th in 2006, 4th in 2005) and the TRIUM Executive MBA offered in conjunction with New York University's Stern School of Business and HEC Paris was ranked 2nd in the world by the 2007 Financial Times EMBA Ranking.
Furthermore, the LSE's Department of Philosophy, Logic and Scientific Method is highly renowned, which is mirrored in the rankings of Blackwell's Philosophical Gourmet Report. It is ranked 1st in the world for philosophy of social science and joint 2nd in the world for philosophy of science, as well as joint 3rd for 'Decision, Rational Choice, and Game Theory'. Other celebrated bachelor degrees include Economic History, International Relations (both first to be introduced as degrees by LSE), Economics (ranked first in the world), Political Science (first in UK and widely accepted as a world leader in Academic, Legislative and Corporate circles) Politics (fluctuating rank between first and second in the UK) Actuarial Science, International History, Business Mathematics and Statistics, Management, Management Sciences, Sociology and Social Psychology.
In the 2009 Good University Guide, the LSE came 1st in the UK for Accounting and Finance, Business Studies, Economics and Social Policy; 2nd for Geography, Anthropology and Politics; 3rd for Law; 4th for History and Philosophy; 7th for Sociology and 8th for Mathematics.
The LSE ranked 3rd overall in the Sunday Times University Guide's cumulative table over ten years of study (1997-2007).
Research
The School is a world centre for advanced research. In the 2008 UK Research Assessment Exercise carried out jointly by the four funding councils for higher education in the UK, the School had the highest percentage of world leading research of any UK university, topping or coming close to the top of a number of rankings of research excellence.
Individual subject areas, notably economics, law, social policy and European studies, also headed national tables of excellence. Two-thirds of LSE staff work in LSE departments ranked in the top five in the country, and 26 per cent work in departments ranked first in the country.
There are currently 17 research centres and numerous smaller units at the School, ranging from large multidisciplinary centres with substantial financial support to small units with more modest resources. Most of LSE's research centres and units are financed by research councils, charitable foundations, industry or commerce. There are three centres funded mainly by the Economic and Social Research Council (ESRC). Others are funded through public or private partnerships.
SE's Research Lab is the base for more than 260 staff - one of the largest concentrations of applied economic, financial and social researchers anywhere in the world. The Lab includes the Centre for Analysis of Social Exclusion, the Centre for Economic Performance, the Financial Markets Group and the Suntory and Toyota International Centres for Economics and Related Disciplines.
Academic Department
- Accounting, Department of
- Anthropology, Department of
- DESTIN - Development Studies Institute
- Development Studies Institute - see DESTIN
- Economic History, Department of
- Economics, Department of
- European Institute
- Finance, Department of
- Geography and Environment, Department of
- Government, Department of
- International History, Department of
- International Relations, Department of
- Language Centre
- Law, Department of
- Management, Department of,
- Mathematics, Department of
- Media and Communications, Department of
- Methodology Institute
- Philosophy, Logic and Scientific Method, Department of
- Social Policy, Department of
- Sociology, Department of,
- Statistics, Department of
London School of Economics was ranked 66th in the 2008 THES-QS World University Ranking.
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