The awards are made based on academic performance in the examinations. 

Undergraduate: one award is available for a student applying to transfer to the second year of an undergraduate programme at LSE having completed the first four foundation units, or the Diploma in Economics

Graduate: two for students applying for a masters degree at LSE having completed one of the degrees or Diplomas for Graduates.

The Charles Wallace Trust
The Charles Wallace Trust in conjunction with LSE External Study offers an annual award of £3,000 for postgraduate study at the LSE. Application is open to those who are both nationals of, and residents in, Pakistan. In addition, applicants should have completed a degree in Economics, Management, Finance and the Social Sciences as an External student, and have been offered a place to study on a Masters programme at the LSE.