The Master in Economics and Finance is a two-year (120 ECTS) program that provides students with rigorous, solid foundations in Economics and Finance together with state of the art tools. The program is demanding as it brings students to the frontier in tools and knowledge.

• Structure

  
  

  The program is structured around coursework, participation in workshops, and the writing of a Master‘s thesis.

  
  

  Courses. The academic year is organized in trimester terms. The first term begins with two introductory courses in quantitative methods that are followed, in the fall and winter terms, by core courses in microeconomics, macroeconomics, and econometrics. In the spring term, and during the fall and winter terms of the second year, students take elective courses, acquiring frontier knowledge in their chosen fields of specialization. For details on this year’s course offerings, you may visit here.

  
  

  Workshops. Coursework is complemented with a series of workshops. These workshops are designed to aid students learn how to read and discuss research-oriented and policy-oriented papers in applied economics. Students also acquire presentation skills.

  
  

  Master thesis. During the spring term of the second year, students write a Master thesis on their field of interest under the supervision of a faculty member.

  
  

• Internships

  
  

  In the summer of the first year, students may apply to the internship program. This program covers a wide range of interests, from professional internships to internships at CEMFI that are research oriented. Professional internships include financial companies, consulting firms, government institutions, and international agencies. Recent internships include Bank of Spain, Banco Santander, BBVA, Compass Lexecon, Oliver Wyman, Institute for Fiscal Studies (London), and the Interamerican Development Bank.

  
  

• Academic calendar 2018-2019

  
  

  Our official calendar for the 2018-2019 academic year is:

  
  

  	Introductory Courses				Winter Term
  	Lectures begin		10 September 2018		Lectures begin		8 January 2019
  	Lectures end		21 September 2018		Lectures end		15 March 2019
  	Exams		21 September 2018		Exams		20–29 March 2019
  	Fall Term				Spring Term
  	Lectures begin		24 September 2018		Lectures begin		1 April 2019
  	Lectures end		30 November 2018		Lectures end		14 June 2019
  	Exams		10–21 December 2018		Spring break		15–21 April 2019
  					Exams		18–28 June 2019

• Academic calendar 2019-2020

  
  

  Our official calendar for the 2019-2020 academic year is:

  
  

  	Introductory Courses				Winter Term
  	Lectures begin		2 September 2019		Lectures begin		7 January 2020
  	Lectures end		20 September 2019		Lectures end		13 March 2020
  	Exams		20 September 2019		Exams		18–27 March 2020
  	Fall Term				Spring Term
  	Lectures begin		23 September 2019		Lectures begin		30 March 2020
  	Lectures end		29 November 2019		Lectures end		12 June 2020
  	Exams		9–20 December 2019		Spring break		6–12 April 2020
  					Exams		17–26 June 2020

General Information

• Degrees

  
  

  Students who successfully complete the requirements are awarded the degree:

  
  

  Master in Economics and Finance
  Awarded by Universidad Internacional Menéndez Pelayo (UIMP)
  Official degree
  120 ECTS

  
  

• Tuition fees 2018-2019

  
  

  Master in Economics and Finance
  	Tuition fees	EUR 6,600/yr
  	Administrative fees	EUR 36.73 (yr 1)/EUR 7.13 (yr 2)

  
  

  *Subject to minor variations.

  
  

• Tuition waivers and scholarships

  
  

  We offer academic-merit based scholarships and tuition waivers to students of all nationalities. These are sponsored by Banco Bilbao Vizcaya Argentaria , Banco Sabadell , and Banco Santander , and CEMFI. To be considered for funding, please select the appropriate checkbox in the application form. Please note that this selection will not affect your chances of being admitted.

  
  

  Applicants to the CEMFI Graduate Program may also consider applying for external funding. Institutions awarding scholarships to Spanish and European Union (EU) students, and in some cases to non-EU students, include Banco de España , Fundación Rafael del Pino , the Government of the Basque Country , Spanish Ministry of Education and the Spanish Ministry of Foreign Affairs . For Latin American students, the Fundación Carolina , in cooperation with BBVA, endows two scholarships that include a stipend of EUR 1,000 per month, for a total of 20 months, a yearly roundtrip economy-class ticket from the student's country of residence, medical insurance (excluding prescriptions), and the program’s tuition fees.

  
  

• Accreditation reports and brochures

  
  

  As part of our commitment to high-quality academic standards, CEMFI has an Internal Quality Guarantee System (IQGS) that continuously assesses the quality of our graduate program. Below you can access the 2015-2016 quality assessment report as well as other related documentation.

  
  

  • - Latest annual report on quality
  • - IQGS description
  • - Information on quality assessment at UIMP (in Spanish)
  • - Verification Report for the National Agency for Quality Assessment and Accreditation (ANECA) (in Spanish)
  • - Positive Verification by ANECA (in Spanish)
  • - Modification of the Curriculum Report by ANECA (in Spanish)
  • - Follow-up Report by ANECA (in Spanish)
  • - Publication in the Official State Gazette (BOE) (in Spanish)
  • - Positive Accreditation by ANECA (in Spanish)
  • - Teaching Guide (in Spanish)
  • - CEMFI Fellowship Rules and Regulations

  Brochure

  Poster

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