PhD in Economics

The application period for Fall 2019 admission will open on November 15.

If you would like to receive notifications about admissions to our Graduate Program (including opening announcements, application deadlines, and program updates), please follow this link.

Our program prepares students for successful careers in universities and academic centers as well as in central banks and public and private sector institutions. Many years of successful placements, as well as the career paths of our graduates, speak to the value added of our PhD program. This high value has been recognized with the recent award of the María de Maeztu Excellence Distinction. This highly selective distinction is awarded by Spain’s National Research Agency to “fund and accredit public research centers and units in any scientific area that demonstrate international scientific impact and leadership and actively collaborate with their social and business environment.”

Our students enjoy a stimulating academic environment with accessible and supportive faculty. The program comprises two stages: stage one, coursework; and stage two, research. The coursework stage provides students with state of the art tools to successfully conduct research in an ample range of areas in Economics. The research stage fosters an international and interactive academic environment in which students grow to develop an independent and productive career. The typical duration of studies is five to six years. Students who successfully complete the two stages are awarded the degrees Master in Economics and Finance and PhD in Economics and Government. The Universidad Internacional Menéndez Pelayo awards the official degrees of the CEMFI Graduate Program.

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Selected Publications by PhD Graduates

Jeremy C. Stein, David López-Salido and Egon Zakrajšek, Credit-Market Sentiment and the Business Cycle*, The Quarterly Journal of Economics, 132 (3) (2017), 1373 - 1426.

Jesús Santos and Javier Suarez, Liquidity standards and the value of an informed lender of last resort, Journal of Financial Economics, forthcoming.

Max Bruche and Anatoli Segura, Debt maturity and the liquidity of secondary debt markets, Journal of Financial Economics, 124 (3) (2017), 599 - 613.

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