Course Spotlight - MG250: Management and Economics of Digital Information

We sat down with Gabriel, who took MG250: Management and Economics of Digital Innovation at Summer School, to hear about his experience of the course - including his favourite parts, the impact it has had on him and his advice for future students.

Why did you decide to attend LSE Summer School?

LSE is a top university for management and economics, where dynamic and expert professors guide you in your academic journey. I wanted to study in a new environment, and LSE was indeed the perfect place to master managerial and economic frameworks. Studying in the heart of London, in a prestigious and iconic university during summer, was an unforgettable experience. The prospect of discovering not only the British lifestyle but also other cultures - London being a vibrant multicultural city - and meeting new students who shared my academic interests was a unique opportunity. Spending three weeks in London, visiting famous landmarks like Big Ben, Buckingham Palace, or Covent Garden is something I had always wished to do.

Why did you choose your course?

Coming from an engineering background, I wanted to discover a new approach to technologies and innovation - without equations, through management and economic thinking, which are essential to secure a leadership role in an engineering firm. This is why I chose my course MG250: Management and Economics of Digital Innovation, which perfectly fit my wishes. We delved into the history of innovation, retracing key digital breakthroughs and depicting the managerial and economic reasons famous businesses became successful. I really looked forward to learning about platforms and ecosystems, as well as blockchain, which are essential parts of today’s economy, and really interesting to talk about! Finally, the course involved seminars where students work in small groups to make presentations, which looked appealing to me, as it is a great way to interact with the professor and fellow students to unlock new skills.

Tell us about an average day as a student on your course.

The course was divided into two parts: lectures with theory and examples of digital innovation, and seminars, in small groups of twenty people, where we would dive into different cases studies about famous digital innovation companies.

Lectures started at 10:00, which was the perfect time if you don’t like to get up too early! I usually gave myself thirty minutes to get to campus, so I could enjoy the slow pace of strolling through the streets. I would arrive for the three-hour lecture, with a fifteen minute break in the middle. At lunchtime, I’d usually grab some snacks or have lunch with other students, before the one and a half hour seminar started. After this, I usually looked at the case study for the next day before exploring London.

What was your favourite part of your course?

I have to say it, I loved every part of the course. But if I had to choose one, it would be exploring the milestones of digital innovation history, which we focused on at the beginning of the programme. With captivating and well-taught examples, I really enjoyed learning about the key technological steps and revolutions inspired by bold and brilliant visionaries, like the computer, the firsts digital networks and the internet revolution. It was particularly interesting to understand the human needs that prompted the creation of these innovations, and how key products like credit card transactions, and online shopping solved timeless customer issues. We also had the opportunity to go into all of these examples in more detail during the seminars, where we took an in-depth view of the essential management skills strategies managers should implement to their business, like mastering “orchestration” of digital resources and players, and different pricing strategies realised by leveraging customer’s data.

What advice would you give to students considering your course?

I believe this course offers a deep understanding of digital innovation and the key economic and management tools that drive it. The curriculum is well-structured and taught by passionate, approachable instructors who encourage class participation.

Whether you already study management or economics at your home university, or if you come with an engineering background as I did, this course is perfect to discover and deeply understand how digital innovation shapes today’s economy.

If you are afraid of getting lost in theoretical concepts, don’t worry about that, as the seminars are the perfect place to master your knowledge, clear up any confusion and and ask your questions! You can interact with the professor freely, and the cases studies are summarised at the beginning of each seminar.

What are your short-term professional goals, and how does your course contribute to these goals?

I want to achieve a position as an engineering manager in a technological firm, where I can use my engineering skills from my home university together with a management and economic education. I want to lead and make strategic decisions in an engineering team, where I can apply my expertise in the conception of the products as well as in the internal management of the company. I love the mix of both domains, and I strongly believe LSE Summer School gave me key skills in technological innovation, which is essential to achieve my professional goals.

How would you explain your course to someone who has never heard of it?

My course focuses on how digital innovation enhances value creation for businesses, as well as how they can implement it to optimise their operations by saving costs, targeting customers or better knowing their customer’s expectations. The course then concentrates on different tools that shape this new digital economy, like cryptocurrencies, blockchain, AI and network effects. It then approaches a critical overview of the opportunities and risks that digital innovation creates, and applies all these concepts to various cases studies, like digital start-up BeefChain, or industry giants like Starbucks or McDonald’s.

How has your course helped you in your undergraduate degree/career plans?

This course transformed my engineer’s perspective to include the manager’s viewpoint, which is often neglected even at top engineering universities. I realise now more than ever before that management and economic tools are essential to design a product for engineers, and that understanding digital technologies and revolutions greatly improves the work of engineers. This is why I want to continue this part of my academic journey, to become a skilled manager with an engineering background.

What was your favourite part of studying at LSE?

My favourite part is the combination of studying at a leading university while exploring London in the summer. This opportunity to gain new academic knowledge while sightseeing and connecting with a cohort of interesting students who have unique backgrounds was something I had never experienced before. This very special experience - being on holiday and enjoying the summer while studying - is what I liked the most.

Additionally, the vibrant atmosphere of London adds an exciting backdrop to the learning experience. Each day feels like an adventure, with historical landmarks and cultural treasures just a short walk away. Engaging in lively discussions with peers in such a dynamic environment enhances the learning process, making it not only informative but also incredibly enjoyable. This blend of education and exploration truly makes the experience unforgettable.

How did you find the British teaching style?

I loved the British teaching style, as it is more personal and interactive between the professors and the students (we were about 50 students during the lectures, with small groups of twenty for the seminars) than in my home university with 500 students.

For the first time in my university journey, I truly had the time to interact with the professors, asking them questions and giving my opinion about diverse subjects. This teaching experience worked well for me, as I felt better connected with my professors, and thus with the course in general.

 

This interview was written by one of our 2024 Student Ambassadors, who are here to share their stories and help you understand the summer school experience at LSE.