Master On Campus

Economics and Finance


24 months
6600 EUR/year
3300 EUR/year
Tuition fee
Apply date
Start date


Taught by internationally-recognized scholars, the Economics and Finance programme offered at CEMFI equips students with a solid foundation in Economics, state of the art quantitative tools, and frontier knowledge in the chosen fields of specialization.


Students enjoy an active, cohesive and stimulating academic environment in which to lay the foundations for a productive career. A long trajectory of successful placements in the private and public sectors, as well as in top doctoral programs, endorses the added value of our program.

Key facts:

The Economics and Finance programme offered at CEMFI is an official two-year degree, with 120 ECTS (complying with the European directives for higher education). The program is divided into coursework, participation in workshops, and the writing of a Master thesis. The Universidad Internacional Menéndez Pelayo awards the official degrees of the CEMFI Graduate Program.

Programme Structure


  • 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. 
  • 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.

Key information


  • Full-time
    • 24 months

Start dates & application deadlines

More details
  • Deadline for scholarship: 31 Jan


120 ECTS


On Campus

Academic requirements

GRE admission requirements GRE®

Other requirements

General requirements

  • Undergraduate degree. Degree in a related discipline such as economics, business, mathematics, physics, engineering, etc. If you have not yet completed your undergraduate studies, you can postpone submitting your degree until you effectively join the program in September. Please note that having successfully completed your undergraduate studies is compulsory to enroll.
    • Graduate degree. Degree in a related discipline (if applicable).
    • Graduate record examination (GRE)
    • Proof of English knowledge
    • Reference letters
    • Statement of purpose
    • Curriculum vitae
    • Academic transcripts.

Tuition Fee

To alway see correct tuition fees
  • International

    6600 EUR/year
    Tuition Fee
    Based on the tuition of 6600 EUR per year during 24 months.
  • EU/EEA

    3300 EUR/year
    Tuition Fee
    Based on the tuition of 3300 EUR per year during 24 months.
  • National and EHEA students: EUR 3,300/yr
  • Foreign students not residing in the EHEA: EUR 6,600/yr

Living costs for Madrid

745 - 1260 EUR /month
Living costs

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.


CEMFI offers 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 the chances of being admitted to the program.

Studyportals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

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