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CEMFI is a leading institution in research and graduate education in economics and finance. CEMFI has an active and stimulating academic environment. Our faculty is a group of 18 internationally-recognized scholars who have made frontier contributions to their fields of expertise. 

Master's Programmes

Business & Management (1)
Social Sciences (1)



CEMFI was founded by the Bank of Spain in 1987 and, since 1991, it is a non-profit foundation.


CEMFI’s graduate education rests on the commitment to provide students with rigorous training in economics and finance. Its offerings include a Master in Economics and Finance and a PhD in Economics. Our placements, and the careers paths of our graduates, are the best endorsement of the value added of our programs. Complementing our graduate offerings, we also organize a Summer School, which provides specialized frontier training to practitioners, academics, and graduate students, and a Diploma in Banking Supervision, which we organize in collaboration with the Bank of Spain.


Research in the field of economics is one of CEMFI’s foundational goals. The research profile of its faculty, as well as the research activities of PhD students, staff researchers, and visitors is clear proof of our research orientation.

Research activities are also reflected in the numerous seminars and academic conferences that we organized, in the participation in research projects and networks in conjunction with other institutions, and in the working papers that facilitate the diffusion of our research output prior to its publication in scientific journals or books.

Global Student Satisfaction Awards 2021

GSSA 2021

The Global Student Satisfaction Awards empower students across the globe to determine the best universities of 2021. Universities with a score above 4.0 (out of 5) in any of the 8 award categories, receive Badges of Excellence. Congratulations!

Learn more about the Global Student Satisfaction Awards


Housing services

Typically, students rent apartments, sharing them with their classmates or with incumbent students. To aid in the search process, we have a list of inexpensive hostels in case you need a place to stay while looking for accommodation. We also have a list of rental agencies with English-speaking staff. If you would like to contact incumbent students or future classmates to ask for apartment availability, do let us know and we will help you get in touch with them.

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