While a thorough understanding of aggregate economy dynamics is necessary for success, it is not entirely sufficient. Organizations must also be knowledgeable of the many sources of aggregate risk and uncertainty, and must rely on the analytical tools available to study the aggregate economy.
Students in the Barcelona GSE Macroeconomic Policy and Financial Markets Program will obtain relevant knowledge about the central issues in Macroeconomic and Financial Economics analysis, as well as the key tools, data, models, and techniques now being used by public and private institutions.
Financial and consulting firms increasingly utilize complex economic theories. Master's degree students will not only learn how to use these modeling and statistical techniques, but will conduct an independent master's project to learn how to apply these new skills to real empirical work.
Our program also offers students guest seminars and lectures by international academics and practitioners.
A closing conference will be held as an interactive forum between the academic and professional worlds. The presentation and discussion of students' applied work will be combined with expert talks covering both institutional topics as well as the presentation of original academic research.
This master program covers economic models such as the dynamic stochastic general equilibrium (DSGE), vector autoregression (VAR), and autoregressive conditional heteroskedasticity (ARCH). Our graduates are prepared with an expert grasp of aggregate economy and financial function fundamentals, able to build macroeconomic and market forecasts - skills that consulting firms, investment banks, and government agencies are all in need of.
Upon successful completion of the program, students will receive a Master Degree in Specialized Economic Analysis awarded jointly by Universitat Autònoma de Barcelona and the Universitat Pompeu Fabra.
All Barcelona GSE master degrees have been recognized by the Catalan and Spanish Education authorithies within the framework of the Bologna Process (in Spanish, “Master Universitario o Master Oficial”).
The master is a full-time nine-month program structured in three terms: Fall term (from September to December), Winter term (from January to March) and Spring term (from April to June).
Students will be required to do an applied project during the second and third terms.
Students in this master are required to take the Math and Statistics Review course and the Computer Tools course offered in September. All students are required to pass the exams for these two courses. Given the applied/quantitative nature of the master program, students will need a laptop.
The degree requires the successful completion of 60 ECTS (European Credit Transfer System) credits of graduate courses (6 credits are equivalent to a 40 hour course), some compulsory and some elective. The students' final program must be discussed with and approved by their Master Director.
The academic performance of each student is reviewed regularly. Attention is given to the maintenance of normal academic progress, through a combination of formal written examinations and coursework. Core courses will award grades. Some optional courses may be evaluated on a pass/fail or pass with honors/pass/fail basis.
The Macroeconomic Policy and Financial Markets master is located at the Bellaterra campus at Universitat Autònoma de Barcelona. The UAB's self-contained campus offers students all of the services they need in their day-to-day lives and is an easy half-hour train ride from the city center.
You can apply until:
Always verify the dates on the programme website.
You only need to take one of these language tests:
Minimum required score:
The IELTS – or the International English Language Test System – tests your English-language abilities (writing, listening, speaking, and reading) on a scale of 1.00–9.00. The minimum IELTS score requirement refers to which Overall Band Score you received, which is your combined average score. Read more about IELTS.
Minimum required score:
The TOEFL – or Test OF English as a Foreign Language – offers a paper-based test (PBT). The final, overall PBT score ranges between 310 and 677, and is based on an average taken from the three test components (listening, structure, and reading). The writing part of this test is scored separately on a scale of 0-6. Read more about TOEFL (PBT).
Minimum required score:
The TOEFL – or Test Of English as a Foreign Language – offers an internet-based test (iBT). The final, overall iBT score ranges between 0 and 120, and includes a scaled average from the four components (reading, listening, speaking, and writing). Read more about TOEFL (iBT).
There are two main application requirements for master programs at the Barcelona Graduate School of Economics:
However, possession of the minimum entrance requirements does not guarantee that you will be offered admission.
There are four main areas considered for admission:
Applicants must have:
English Language Requirement:
All Barcelona GSE master programs are taught entirely in English. Applicants must have an advanced level of English to follow the program.
All Barcelona GSE programs require good or advanced quantitative skills.
Applicants have the option to provide GRE/GMAT test scores to demonstrate proficient quantitative skills.
Applicants who have taken the GMAT are welcome to submit their exam scores, but should note that the GRE is preferred by the admissions committee. Normally, scores in the 80th percentile or above in the quantitative section are considered to be good scores.
While it is not compulsory to include scores with the application, good scores will be positively valued by the admissions committee and could be a decisive factor in those cases in which the application does not contain enough information to determine the candidate's potential for academic success in the master program.
You are responsible for uploading GRE or GMAT scores to your application. You can enter the application form at any stage of the application process and upload scores to the system. You may also update your scores by uploading new scores to replace the document you uploaded previously.
Letters of Reference:
The two letters of reference are an extremely important element in the application package. The Admissions Committees normally prefer letters from Faculty members. If you cannot provide two faculty referees, you may include a professional referee instead.
Your referees will upload their letters directly to the online system on your behalf. You will include email contact information for your referees when you submit your application. Once you submit your application, your referees will receive an email containing instructions and a link for submitting letters via the online system.
Please note that your application will not be reviewed until the Barcelona GSE has received your letters of reference from your referees.
Fees cover registration, teaching, access and use of the UAB and UPF facilities and first entry into examination.
The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.
In an effort to attract outstanding students, the Barcelona GSE offers a number of full and partial tuition scholarships based on academic merit.
A small number of teaching assistantships are available to students in the Economics and Finance programs. These positions are competitive and available to a limited number of top students. TA's are responsible for 60 contact hours of teaching (to be distributed any way throughout the year) plus other duties.
If you wish to be considered for a Teaching Assistantship, please mark the appropriate box on the online application. If you are selected, you will receive more information.
The Barcelona GSE is grateful to the following collaborating institutions for supporting its master programs with full or partial scholarship funding:
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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