THE MASTER IN ECONOMICS AND FINANCE AT CEMFI is a 2-year full-time program intended to prepare students for a wide range of careers in the public and the private sectors.

It also serves as the first two years of the PhD in Economics at CEMFI. This flexibility is very attractive to many students that initially are not sure whether they would like to follow a professional or an academic track. The program is taught in English.

The distinctive feature of the program is the combination of an orientation towards applied and policy issues with a strong emphasis on analytical and quantitative approaches to these issues. This requires a solid understanding of the relevant economic, econometric, and computational techniques. The faculty teaching the courses are all active researchers at the frontier of their area of expertise. About 25 students are enrolled each year, which allows for close interaction with CEMFI’s faculty.

The Master in Economics and Finance at CEMFI is an official degree granted by Universidad Internacional Menéndez Pelayo (UIMP) according to the regulations of the Spanish Ministerio de Educación.

Each academic year is divided into three 10-week terms. Courses are concentrated in the first five terms, with three courses per term. Each course comprises three hours of lectures and one and a half hours of problem set classes per week. The sixth term is fully devoted to research work on the Master thesis that students must submit at the end of the program. In addition, a 2-week introductory course of Mathematics is taught in September of the first year.

The first two terms contain the core courses, while in the next three terms a wide range of elective courses are offered. The electives are grouped into four areas of specialization: Microeconomics, Macroeconomics, Econometrics, and Finance. The choice of electives does not have to be concentrated in one of these areas, so students can decide their own degree of specialization.

In the summer between the first and the second year students are offered a Summer internship at a financial institution, a consultancy firm, a public sector department, or collaborating as a research assistant for a project of a faculty member.

In addition, from the second to the fifth term there is a workshop in which students present and discuss applied economics papers and debate papers on economic policy issues. Throughout the year there is a series of invited lectures and several series of research seminars that students regularly attend.

Scholarship Application Deadline: 5 April 2011.

Further Scholarship Information and Application