The Postgraduate Program in Central Banking aims to meet the growing demand for highly qualified professionals in areas of special interest to central banks, such as macroeconomics and monetary policy, financial markets, banking regulation and supervision, and financial stability.

The program offers innovative training that combines solid knowledge in economics, finance, banking regulation, and law with advanced preparation in quantitative analysis. All of this is developed in an environment that prioritizes the practical application of acquired knowledge, thanks to a stays program at the Bank of Spain. The curriculum is designed to foster student versatility and adaptability by allowing the acquisition of skills that support professional development in a global economic and financial environment, which is increasingly complex and constantly evolving.

The program is organized in three terms. The first term contains core courses and begins with two weeks dedicated to reviewing fundamental concepts in mathematics which are necessary to follow the program and to presenting the functional responsibilities of the Bank of Spain and the Eurosystem. The remaining courses in this term are:

• Data Analysis and Statistics
• Microeconomics and Industrial Organization
• Macroeconomics and Monetary Policy
• Financial Economics
• Civil and Commercial Law
• Financial Accounting

In the second term there are three core courses and the two elective courses that depend on the specialization track of each student. The core courses are:

• Artificial Intelligence and Big Data
• Banking Regulation, Supervision, and Resolution
• Applied Econometrics

The courses of the specialization track A are:

• Monetary and Fiscal Policy
• International Economics

The courses of the specialization track B are:

• Corporate Finance and Economics of Banking
• Bank Financial Analysis

The courses of the specialization track C are:

• Public Economics and Management
• Administrative and Labor Law

During the third term the students complete a stay at the Bank of Spain and elaborate a End of Program Project.

Degree: Postgraduate Program in Central Banking, awarded by the Centro de Estudios Monetarios y Financieros (CEMFI)
Duration: 9 months
Calendar: Classes start on 1 October 2026; the program will end in July 2027.
Languages: Spanish and English
Note: This program is part of the training-selection phase of the Bank of Spain’s recruitment process, described at this link.