even EC102 is not too hard to fail. section A is so easy you should get 20/24 marks, thats already half way to not failing. as an example.
the uni doesnt want you to fail, they just want you to work. so yes if you fail, then in my opinion you should either not be at LSE or should have worked harder, again if you arent prepared to do the latter and arent so gifted that you can manage with a little work (i hate those people, lol) then the former applies to you.