Program

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.

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.

Our official calendar for the academic year 2021-2022 is:

Our official calendar for the academic year 2022-2023 is:

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

*Subject to minor variations.

We offer academic-merit based scholarships and tuition waivers to students of all nationalities. 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, 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 round trip economy-class ticket from the student's country of residence, medical insurance (excluding prescriptions), and the program’s tuition fees.

Class attendance. Class attendance is mandatory. This includes class lectures and recitations.

Academic honesty. CEMFI is committed to the highest possible standards of academic honesty. Academic dishonesty includes, but is not limited to, cheating, plagiarism, and misrepresentation of a student's academic records or academic work. If academic dishonesty does take place, the student involved will receive an academic sanction that can entail the separation from the Program.

Disabilities. CEMFI is committed to providing accessible services, programs, and educational opportunities to all students. Students with qualifying disabilities may contact the director of the program who will guarantee that the policy procedures are implemented.

Code of conduct. CEMFI has a Code of conduct for all members of its community. Students should be familiar with its contents and abide by them. It can be found here .

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