Developing strategic thinkers who can apply economic know-how to business today, is the focus of new Master’s programme

By Tanya Gubbay
Monday 6 February 2012

Enabling people to apply economic and strategic thinking to business situations or to develop policy, is the focus of a new Master’s programme at Imperial College Business School.

The MSc in Economics and Strategy for Business also aims to equip students with the skills to think creatively about business situations and strategies and to implement them successfully in modern organisations. It looks to provide students with an understanding of the realities facing practising managers, so that they can get off to a successful start in their careers.

"Economic analysis on its own can only take you so far and too often the people who understand economics don’t get involved in the day to day practicalities of business, so companies are losing the benefit of that expertise. Our programme will help people to become strategic thinkers, who can apply their economic know-how for the benefit of business," explained Programme Director Anjali Bakhru

"Companies looking to survive in a recession need innovative solutions more than at any other time. We expect students to graduate from this Master’s course as creative thinkers with economic expertise, the capability to revise and review business strategies and the confidence and skills required to follow these through to implementation."

Programme leaders have designed modules around the most pressing issues in modern business such as innovation and globalisation as well as consideration of how digital and energy economics and strategy have the potential to transform business. Their aim is to take students beyond the traditional economics and strategy curriculums most associated with an MBA or general management programmes, by exploring these individual areas in greater depth.

Students will also have the opportunity to gain some practical experience with external organisations during a final group consulting project.

David Miles, Visiting Professor at the Business School and an External Member of the Monetary Policy Committee of the Bank of England, said: "This innovative and relevant programme aims to apply sophisticated economic analysis directly to business policy and strategy. That is both appealing and rare. More importantly, it is a good way of giving people the skills of economic analysis in a way that shows their direct application into business."

Applications are now open for this year. The programme is due to start in October 2012.