Excellence in Research and Teaching

CEMFI is a leading graduate school in Economics in the heart of Madrid.

Master in Economics and Finance

A rigorous two-year program that successfully places students in the professional job market as well as in top doctoral programs.

See more

Undergraduate Summer Internships

An opportunity to gain valuable work experience in economic research and data analysis.

See more

PhD in

A selective doctoral program that is endorsed by the quality of its placements and the career paths of its graduates.

See more


Our faculty are leaders in their fields of expertise and regularly publish in the leading journals of Economics.

See more


Intensive, one-week courses covering the most recent developments in fields within CEMFI's range of expertise.

See more

Recent publications

Manuel García‐Santana, Josep Pijoan-Mas and Lucciano Villacorta

Econometrica, 2021.

Dmitry Arkhangelsky, Susan Athey, David A. Hirshberg, David A. Hirshberg, Guido W. Imbens and Stefan Wager

American Economic Review, 2021.

Lídia Farré, Yarine Fawaz, Libertad González and Jennifer Graves

Review of Income and Wealth, 2022.

Radim Bohacek, Jesús Bueren, Laura Crespo, Pedro Mira and Josep Pijoan-Mas

Health Economics, 2021.

Martin Almuzara, G. Fiorentini and Enrique Sentana

Essays in honour of Joon Y.Park Advances in Econometrics, 2023.

Anna Mikusheva and Liyang Sun

The Review of Economic Studies, 2022.