The document summarizes the Master in Economics and Finance (MEF) program. It was created in 1999 to prepare top-level specialists in economic analysis and financial theory. The rigorous 2-year program provides a solid theoretical foundation through courses in economics, finance, econometrics, and mathematics. Students complete a master's thesis and have opportunities to learn from outside speakers and faculty from around the world. Graduates often pursue careers in academia, international organizations, consulting firms, and the financial sector.
2. Economics
vs
Finance?
Current events show the
crucial importance of a
solid knowledge of both
Economics and Finance
… Consider for instance the
European Debt Crisis…
3. The debt crisis started as a widening of
interest rate spreads across European
crisis…
Three countries had to be bailed out
(Greece, Ireland, Portugal)…
And other bigger countries started to suffer
(Italy, Spain) threatening the future of
the Eurozone and the whole European
Union.
An example:
European
Debt Crisis
4. The vulnerability of the different countries
have different causes…
Greece: fiscal deficits, wage increases.
Ireland: housing bubble, banking
crisis.
Spain: housing bubble, unemployment,
trade deficit, private debt.
Italy: very high public debt, lack of
confidence in the political system.
But equally dramatic consequences –
both for the financial sector and for the
real economy.
An example:
European
Debt Crisis
5. Several countries had government
changes (Greece, Italy, Spain…)
Riots and strikes in Greece, Italy, Spain.
Changes in European treaties.
Important reforms (labor and financial
reforms in Spain, pension reforms in
Italy…)
Economic and
Political
Consequence
6. What caused the debt/confidence crisis?
Are interest rates spreads due to deteriorating
fundamentals or to speculation?
Should we bail out countries – or not?
How to improve the underlying
fundamentals (CA deficit, real appreciation,
unemployment, stability of the banking
system…)?
What happens if the EMU breaks down?
Theoretical
and
practical
issues
7. The need of top level specialists in the
areas of economic analysis and financial
theory.
The Master in Economics and Finance is:
Rigorous;
Academic;
Research oriented;
Internationally oriented.
The MEF can lead to:
the PhD in Economics or Finance;
to work in the private sector or in
The need of
a solid
analytical
and
theoretical
knowledge
of
economics
and finance
8. The MEF (Master in Economics and Finance)
is an official Master program in
Economics and Finance.
It was created in 1999 with the objective of
preparing top level specialists in economic
analysis and financial theory.
The program aims to provide a solid
theoretical base and to develop the
analytical skills needed for practical work
and research.
THE MEF
9. THE
PROGRAM
Mathematical Methods for Economic Research
Economic Theory I: General Equilibrium and Welfare Economics
Economic Theory II: Dynamic Macroeconomics
Econometrics I: Design of Econometric Models
Econometrics II: Microeconometrics
Econometrics III: Financial Econometrics
Finance I: Investment Theory and Uncertainty
Finance II: Risk Coverage
Finance III: Corporate Finance
Topics I: Monetary and International Economics
Topics in Economics and Finance II: Industrial Organization
Topics in Economics and Finance III: Personnel Economics
Topics in Economics and Finance IV: Public Policy
Research Seminars
Master Thesis
10. In the 4th Quarter: Master thesis
Idea: apply the skills and techniques
acquired in the first nine month to a
relevant contemporary issue
Serious, rigorous and demanding:
the best Master thesis have been
published in international journals
And, above all… a lot of fun!
THE
PROJECT
11. Outside speakers from top universities
and institutions around the world explaining
their latest research and results.
THE
SEMINARS
12. Mirko Abbritti (Unav, PhD The Graduate Institute,
Geneva)
Christine Choirat (Unav, PhD Université Paris
Dauphine)
Luis A. Gil-Alaña (Unav, PhD London School of
Economics)
Markus Kinateder (Unav, PhD Universitat Autònoma
de Barcelona)
Ángel López (Unav, PhD Toulouse School of
Economics,
France)
Germán López Espinosa (Unav, PhD University of
Alicante)
Yuliya Lovcha (Unav, PhD University of Alicante)
Sergio Mayordomo (Unav, PhD Carlos III University)
Pedro Mendi (Unav, PhD Northwestern University)
Antonio Moreno (Unav, PhD Columbia University)
THE
FACULTY
13. Greg Gregoriou (SUNY, PhD University of Quebec,
Montreal)
Rafael Moner (University of Valencia, PhD Université
Catholique de Louvain, Belgium)
José Sempere (University of Valencia, PhD
Université
Catholique de Louvain, Belgium)
Razvan Pascalau (SUNY, PhD University of
Alabama)
Gabriel Pérez-Quiros (Banco de España, PhD
University of California
San Diego)
Enrique ter Horst (European Central Bank, PhD
Duke
University)
Sebastian Weber (International Monetary Fund,
THE
FACULTY
14. Academic world (University of Navarra,
Rochester University, London School of Economics,
University of Pennsylvania, San Diego, CEMFI, London
Business School, Columbia, IESE Business School…)
National and international
organizations (European Central Bank, European
Commission, World Bank, International Monetary
Found, Governments, OECD, OPEC, American
Development Bank, Think Tanks…)
Private sector
Consulting Firms (McKinsey, Boston
Consulting Group, Accenture, KPMG, JP Morgan,
Compass Lexecon, Oliver Wyman, Indra, Repsol,
Deloitte…)
Financial Institutions (BBVA, Morgan
Stanley, Zurich, Toronto Dominion Bank …)
Other Companies (Repsol, Arcelor Mittal,
THE
CAREERS
15. 100% of our graduates find a
job within the year following the
completion of the program.
THE
CAREERS
16. Practical
information
MEF
SELECTION PROCESS
Rolling admissions until July, 15th
Price: 13,308 euros
TOEFL: 90 points
GRE
FUNDING
Excellence Scolarships 35% - 65% off.
GPA scores higher than 7 out of 10,
Santander Scolarships 35% off.
GPA scores higher than 7 out of 10,
Teaching Assistant Scolarships
800 €/month
Incentive program for doing the doctoral
thesis (Deferral of 80% of tuition convertible
on discount)
For many years economics did there thing and finance people did theirs. Separate research and analysis for two very interconnected things. Many Portfolio Managers in my firm used to say during our meetings with our economists and strategists that they don’t care what is happening in the economy. They invest in companies and what makes those companies go up is innovation of ideas, commodity discoveries, or new products, not where non-farm payrolls is going to be revised downwards. And economists wanted to insulate themselves from the interworkings of various industries as they would be reaching into unchartered territories.
But I had an analogy. Many Bankers are boaters….when the weather is fine any boat can be taken out into the water. But when a storm come, every boater will come back to shore bc it is too dangerous. And some storms, only the big strong slow moving tankers can outlast some storms.
SO what did happen?
As a result, there is an exciting time in research. There are new problems that are being asked. There are new lines of research gaining focus. Most of which combine the need for a financial and economic solution.
One thing you need to recognize is that this university is growing. The university was created only 50 yr ago and is already one of the best in the world. And our MBA school was just ranked #1 in the world by the Economist.
