Branch programme/details

Master in Economics and Finance (MEF) is a two-year English-language Master's degree program that  aims to give students a thorough understanding of theoretical and applied economics and finance. Emphasis is put on developing strong analytical skills that will allow our graduates to solve complex economic problems in various areas. Applicants must have a solid background in Mathematics and a good command of English. Courses are taught both by faculty members of the Institute of Economic Studies (IES) and external professionals from international institutions, central banks, and the financial industry. Graduates typically assume challenging positions in banking, consulting, investment funds, international financial institutions, or they pursue an academic career at respected international universities.

Compulsory courses introduce students to the advanced topics in macroeconomics, microeconomics and econometrics. Elective courses cover a wide range of areas in economics and finance and let students specialize in the field of their interest. The topics include applied economics and economic policy (e.g. monetary economics, international macroeconomics, antitrust economics, public economics, health economics, environmental economics, development economics, energy economics, and economics of the EU),  banking and finance (banking, financial markets, corporate finance, asset pricing, company valuation, bank asset and liability management, and financial regulation)), and advanced empirical methods (e.g. macroeconometrics, applied microeconometrics, financial econometrics, data science, and DSGE modelling).

More information about the programme is available at: http://ies.fsv.cuni.cz/en/node/297. Questions can be emailed to: admissions@fsv.cuni.cz or asked at online webinars that take place before the application deadlines and that are announced on the program website.

E-mail: ies@fsv.cuni.cz

MEF Factsheet

Description of verification and evaluation criteria:

In addition to the application form, every applicant needs to provide the following documents:

a) Scores from ability and language tests in the Supplementary Online Form (SOF)

b) Copy of a diploma to show completed Bachelor (or higher) studies or confirmation that ongoing Bachelor studies will be completed in the current academic year

c) Transcript of records and academic results from previous studies

d) Structured CV

e) Motivation letter

f) Document showing the level of English proficiency

g) Document showing the level of Analytical skills

h) Letter(s) of recommendation (references).

Ad b) Confirmation of studies may be substituted with a transcript of records, provided that these are from the same academic year as the application.

Ad f) Applicants should provide a certificate from one of following standardized tests:

• IELTS Academic - the minimum required overall band score of 6.5, with band score 6.0 or above in all four components;
• TOEFL Internet-Based Test (iBT) & TOEFL iBT Home Edition - the minimum required overall score of 83, with a minimum scaled score in the four sections: reading 21, writing 22, listening 20, speaking 20;
• Cambridge ESOL FCE - minimum Cambridge English Scale Score of 180;
• Cambridge ESOL CAE and CPE receiving a certificate.

A standardized English test is not required from applicants who:

• are native English speakers;
• have studied in English at the secondary school level for at least two years;
• have studied in English at the university level for at least one year;
• have worked for at least one year at a company where the language of communication was English.

When a score from an English-language test is not presented, the applicants should provide a certificate of their use of English during their prior studies or employment to support their claim. The certificate should contain contact information (an email address and a telephone number) to a person (a programme director, or an employee supervisor) who can confirm the scope of the use of the English language in the program or employment.

Ad g) Analytical Skills - Applicants should have good analytical quantitative skills with sufficient background in mathematics and/or statistics. Applicants should have studied at least two terms of Bachelor level mathematics. Prior knowledge of economics or finance is an advantage but it is not required. Applicants should be familiar with the following topics of calculus and linear algebra: functions, limits, derivatives, partial derivatives, optimization techniques, matrix algebra, and differential and difference equations. They should have an introductory-level understanding of probability distributions, hypothesis testing, linear regressions, and the OLS estimation method.

Applicants’ analytical and quantitative ability is best demonstrated by the GRE tests, GMAT tests or by completing one or more levels of the CFA Exams. For GREs, please use our institutional code 1649 so that the results are sent directly to our faculty. A GMAT score above 600 points and above 40 points in the quantitative section or a GRE score above 155 points in the quantitative section gives an applicant a good chance for admission.

We do not require a standardized test score from applicants who:

• Have studied in a quantitative program at the university level with at least the equivalent of 30 ECTS credits of mathematics, statistics, econometrics, or similar, with a score for each of the courses in the top 50 % of the grading scale, or
• Have worked for at least one year in a private or governmental institution in the area of statistics or econometrics where they used quantitative methods on a regular basis and where they took responsibility for independent tasks, or
• Have achieved a high rank in a recognized competition in mathematics, e. g. mathematical Olympiad. When a score from an ability test is not presented, the applicants should provide a certificate of their past achievements, studies or employment.

While we do not require a score from GRE or GMAT test when the conditions above are met, a good GRE or GMAT score still significantly strengthens the application and increases an applicant´s chances for admission.

All documents which are not originally in Czech, Slovak or English must be officially translated into English.

All candidates must complete Bachelor level education before they start studying the program. The selection of candidates is based on the submitted documents with the ranking 0-100 points. The admission committee evaluates (i) candidates’ aptitude for studies based on their past study results and on the results from ability tests (0-50 points), (ii) their command of English (0-20 points), and (iii) their motivation for studies (0-30 points). The point limit for accepting applicants is set by the Dean with respect to the number of applicants and the capacity of the programme.

Admission to Master's studies is conditioned by completed secondary education confirmed by a school-leaving certificate. Admission to Post-Bachelor studies (Master's programme) is likewise conditioned by completed education in any type of study programme.

Masters graduates are qualified to undertake advanced-level quantitative analysis and modeling in economics and finance. The courses in the program are constructed in line with the graduate programs in Economics and Finance in top universities in the EU, including a significant part of econometrics. Masters graduates are familiar with the advanced economics knowledge and quantitative skills, as well as detailed knowledge about particular topics in financial markets, banking, corporate finance, international trade and finance, public economics and economic policy-making. The graduates are typically financial analysts, economists in corporations, consultants, economists in central banks and international organizations, or pursue doctoral degrees in economics or finance.