Master's Degree in Economics and Finance

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Master's Degree in Economics and Finance

Economics Program

The Master’s program in Economics focuses on critical thinking, economic theory, and statistical techniques. It emphasizes both macroeconomics and microeconomics, with strong data analysis components.

9 months
full time

17,500€

Face-to-face

English

60 ECTS

Campus: Ciutadella (UPF)

Program begins in September 2025

Application deadline for 2025-2026, is July 2, 2025

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Master's Degree in Economics and Finance

Applications for 2025-2026 Master´s Degrees are now open!

Master's Degrees

Master's Degree in Economics and Finance

Economics Program

About this Master’s program

The BSE Master’s program in Economics prepares students for technically demanding jobs and doctoral programs.

The Master’s program in Economics takes a dual approach to economics to give students an excellent foundation and deep understanding of the field’s fundamentals and applications, with a specific focus on data analysis. Students will learn how to use powerful analytical and quantitative tools, and they will design and conduct an independent Master’s project.

At the beginning of the Master’s students will be offered clear guidance on how to optimally tailor their course choice to their specific learning objectives and professional aspirations.

Theoretical foundations and strong quantitative analysis to prepare for PhD programs

After the completion of this Master’s program, students are fully prepared to start a PhD in Economics at any top university in the United States or Europe, including the PhD program at UPF (organized jointly with BSE).

Depending on the background of the student, the student may take a track on theoretical foundations of Economics and strong quantitative analysis, or a combination of this with more applied courses, such as Data Science courses.

Specialized elective courses to develop applied skills for professional careers

The Economics Master’s program offers a large variety of courses in Applied Economics to prepare students to fulfill the new demands of a highly competitive job market.

In particular, we offer Data Science courses designed for economists and other social scientists that allow students to acquire new skills besides traditional econometrics and quantitative analysis. A large variety of applied courses in specific fields will complement more general and technical courses.

By the end of the Economics Program, students will be ideally positioned to work in international organizations, financial institutions, consulting companies, private firms, etc. We work closely with all categories of employers to anticipate their professional needs and understand which skills are most demanded.

The Economics Program course list is broad enough to offer specialized training in a number of areas, such as: Macroeconomics with a focus on monetary and fiscal policy, Microeconomics, Data Science for Economists, Political Economy, Labor and Public Economics, International Economics, Development Economics, Business and Market Organization, Behavioral and Experimental Economics and Financial Economics.

Discover what makes this program truly exceptional

1

Advanced Quantitative Training: Gain rigorous training in quantitative techniques, equipping students for technical roles and further studies

2

Research Opportunities: This Master’s program prepares students for doctoral programs with a strong focus on research skills

3

Comprehensive Curriculum: The program combines microeconomics and macroeconomics with practical data analysis

4

Renowned Faculty: Professors are also leading published researchers in Economics publications and renowned journals

5

Global Career Prospects: Graduates pursue careers in academia, research, and policy-making all over the world

Meet the Program Directors

Program Director

Marta Reynal-Querol

Deputy Director

Eulàlia Nualart

Ready to make a difference? This program is designed for

Students who want to prepare for technically demanding jobs or doctoral programs. Here’s why it’s perfect for you:

If you have a background in economics, mathematics, or engineering.
You have experience working as a Junior analyst or in other related professions.
You want to study a postgraduate degree with advanced tools in quantitative economics.
You are an aspiring PhD student looking for a rigorous master’s program in economics.

What skills and knowledge will you learn?

Learn theoretical foundations and strong quantitative analysis by gaining the following skills:

Analytical and quantitative skills:

Learn a solid command of analytical and quantitative economics

Wide range of specializations:

Gain knowledge of a wide range of specializations in different fields of economics

Theoretical and empirical approaches:

Study competence in both theoretical and empirical approaches, from foundation to application and policy

Become an expert:

In writing and discussion of graduate-level economics

Pursue a PhD:

Learn the tools necessary to successfully pursue a PhD in economics

Professors

BSE Professors are renowned researchers who are published in leading Economics Journals.

UPF and BSE

Jésica de Armas Adrián

UPF and BSE

Benito Arruñada

ICREA-CREI and BSE

Vladimir Asriyan

UPF and BSE

Isaac Baley

CREI, UPF, and BSE

Fernando Broner

ICREA-UPF and BSE

Paula Bustos

UPF and BSE

Andrea Caggese

UPF and BSE

Rodrigo Carril

ICREA-UPF and BSE

Ruben Enikolopov

UPF and BSE

Mircea Epure

UPF and BSE

Rosa Ferrer

CREI, UPF and BSE

Luca Fornaro

UPF and BSE

Alexander Frug

UPF and BSE

Fabrizio Germano

CREI and BSE

Elisa Giannone

UPF and BSE

Albrecht Glitz

UPF and BSE

Javier Gómez Biscarri

UPF and BSE

Priit Jeenas

Post-doc (UPF and BSE)

Jack Jewson

UPF and BSE

Gianmarco León-Ciliotta

UPF and BSE

Humberto Llavador

CREI, UPF, and BSE

Alberto Martin

UPF and BSE

Gaël Le Mens

UPF and BSE

Geert Mesters

UPF and BSE

Martí Mestieri Ferrer

ICREA-UPF and BSE

Rosemarie Nagel

UPF and BSE

Daniel Navarro-Martínez

Unit Head of Macroeconomic Research, Bank of Spain

Gabriel Pérez-Quirós

ICREA-UPF and BSE

Maria Petrova

Universitat Pompeu Fabra and ESADE Business & Law School.

Daniel Sánchez Moscona

Assistant Professor, ESADE

André B.M. Souza

CREI, UPF and BSE

Victoria Vanasco

Program Schedule

In September, students are required to take the following brush-up courses: Probability and Statistics, Calculus and Linear Algebra, STATA and Introduction to Matlab Programming.

Term 1 (September-December)

Course title	Credits	Professor(s)
Mandatory
Econometric Methods I	6	Gergely Ganics , Florens Odendahl
Microeconomics I	6	Daniel Sánchez Moscona
Foundations of Data Science	6	Christian Brownlees , Lorenzo Cappello

Term 2 (January-March)

*Courses offered by the MRes-UPF (Subject to specific course requirements and schedules permiting. Find the syllabus HERE)

Course title	Credits	Professor(s)
Electives (Choose 18 ECTS)
Econometric Methods II	6	Albrecht Glitz
Macroeconomics I	6	Alessandro Ferrari
Microeconomics II	6	Fabrizio Germano , Alexander Frug
Industrial Organization: Empirical Methods	6	Rosa Ferrer , Sandro Shelegia
Development Economics	3	Gianmarco León-Ciliotta , Vasily Korovkin
Topics in Applied Economics I: Development Economics*	3	Gianmarco León-Ciliotta , Vasily Korovkin
Political Economy	3	Ruben Enikolopov , Maria Petrova
Topics in Applied Economics II: Political Economy*	3	Ruben Enikolopov , Maria Petrova
The Economics of Climate Change	3	Humberto Llavador , Bruno Conte
Geospatial Data Science and Economic Spatial Models	3	Bruno Conte
Quantitative and Statistical Methods II: Time Series Analysis	6	Luca Gambetti
Topics in Macroeconomics IV: International Trade and Economic Growth*	3	Martí Mestieri Ferrer , Paula Bustos
Topics in Macroeconomics V: International Trade and Geography*	3	Elisa Giannone , Dávid Nagy , Bruno Conte
Behavioral Decision Making I: Attention, Experience and Influence*	6	Gaël Le Mens
Business Economics*	3	Benito Arruñada , Mircea Epure
Topics in Macrofinance* (Part 1 - 24hrs)	6	Victoria Vanasco , Vladimir Asriyan , Alberto Martin

Term 3 (April-June)

*Courses offered by the MRes-UPF (Subject to specific course requirements and schedules permiting. Find the syllabus HERE)

Course title	Credits	Professor(s)
Mandatory
Master Project	6	Rodrigo Carril , Victoria Vanasco , Joan Monràs , Isaac Baley
Elective (Chose 18 ECTS)
Experimental Economics	6	Rosemarie Nagel
Macroeconomics II	6	Mishel Ghassibe , Luca Fornaro
Topics in Economic Growth and Development	3	Xavier Sala-i-Martín
Behavioral Decision Making II: The Psychology of Economics Decisions*	6	Daniel Navarro-Martínez
Topics in Macrofinance* (Part 2 - 16hrs)	6	Andrea Caggese , Priit Jeenas
Topics in Macroeconomics VI: Spatial and Urban Economics*	3	Dávid Nagy , Elisa Giannone , Bruno Conte
Topics in Macroeconomics VII: Globalization and the State*	3	Jaume Ventura
Topics in Applied Economics III: Public Economics*	3	Rodrigo Carril
Topics in Applied Economics IV: Advanced Techniques in Applied Economics*	3	Lorenzo Cappello
Topics in Finance: Empirical Corporate Finance*	3	Javier Gómez Biscarri
Advanced Time Series: Nowcasting & Forecasting	3	Gabriel Pérez-Quirós
Topics in Applied Econometrics in Public Policy	6	Lídia Farré , Laura Mayoral
Labor Economics*	6	Joan Monràs

Master’s Project

Students use the tools and knowledge they've acquired during the Master’s to explore a topic of their choice for the Master’s project. Master projects are carried out in groups.

Examples of Master's Projects

Class of 2023

Asymmetric Effects of Monetary Policy in the Euro Area by Glen Abela, Arianna Antezza, Alissa Gorelova, Gianmarco Meta, and Roberta Montebello
The Impact of Free Tuition on College Enrollment and Attrition: Quasi-experimental Evidence from Chile by Sebastián Carpentier, Daniel Carrera, Antonio Miranda, Fernando Requejo, and Joan Rojano

Class of 2022

Migration Shocks and Occupational Downgrading: Evidence from Venezuelan Migrants in Chile by Sunidhi Agarwal, Ignacio Ariznavarreta, Nour Chamseddine, Ricardo Gonçalves, and Ignacio Ramón Oliva
Import Price Inflation Following the 2021 Suez Canal Blockage: (for)EVER GIVEN or Transitory? by Nikolaus Bernius, Gabriel Brüster, William James Robertson, Brenton-Jan Stefko, and Christian Steinwender
Heavy is the Head: Responsibility and the Value of Choice by Max Frederik Lanjouw, Yuan Lee, Vincent Leandre Pául Pallud, Fritz Sebastian Stern, and Christoph Ziegler

Master’s degree awarded by UPF

Upon successful completion of the BSE Economics Program, students will receive a Master’s Degree in Economics and Finance awarded by Universitat Pompeu Fabra (UPF).

BSE Institutional Accreditations

Quality Accreditations

All Barcelona School of Economics Master’s degrees have been recognized by the Catalan and Spanish Education authorities within the framework of the Bologna Process (in Spanish, “Master Universitario o Master Oficial”).

Quality indicators for this Master’s degree

BSE commitment to quality

Placement Rate

93%

Job titles: Analyst, Associate, Economist, Research Assistant.
Industries: Research and Academic Institutions, Consulting Firms, Financial Services.
Companies: Banco de España, European Central Bank, Harvard University, Princeton University, Reserve Bank of Australia.
Higher Education: 35% go on to a PhD or further education.

Work Internationally

Barcelona

Frankfurt

London

Madrid

Boston

Testimonials

Economics Program

Mareike Sehrer

The program was challenging and required hard work but also provided a great learning environment, which could be tailored to your own interests due to the wide range of courses available. I started the Master’s hoping to work for an international organisation in labor economics afterwards, which worked out very well for me as I am now interning at the ILO.

Read less

Economics Program

Jordi Gutierrez

The program was actually quite tough and I worked a lot, but, overall, I have good memories of my experience studying at the BSE. When I applied to the master’s, I was already thinking about aiming at the ECB and that worked out very early on during the master’s when I got a traineeship at the ECB for next year.

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Economics Program

Laura Perez

The Economics Program prepared me well for the PhD and I realized I had a very strong background from the BSE that helped me in my first year of the PhD.

Read less

Why study a Master’s at BSE

1

Ranked among the top institutions for economics research in the world by RePEc

2

Prestigious economists including Nobel Laureates guide the development of BSE Master’s

3

Learn from well-renowned faculty

4

Study in vibrant Barcelona

Gain a solid grasp of recent competition policy theories, review real cases, and apply concepts in practice.

Upon completion of the course, participants will have:

Reviewed and understood the key economic considerations behind landmark competition cases.
Reviewed established and recent economic theories on various competition issues through a largely non-formal exposition also accessible to non-economists.
Be acquainted with the main tools to apply a sound economic approach to market definition, market power assessment, prediction of merger effects, and estimation of damages
Understood the main elements for an economic evaluation of (horizontal and vertical) agreements, mergers, and abuse of dominance.
Learned to assess the regulatory risk of a firm’s conduct.
Learned to structure potential anti-competitive claims and/or defences in an economically coherent way.
Acquired the ability to critically evaluate economic analysis and submissions in competition matters.
Reviewed and understand the key economic considerations behind landmark competition cases.

Admissions and Entry Requirements

At BSE, we look for excellence. Key elements of a strong application are a high GPA, a sound statement of purpose, and standout reference letters. Strong knowledge of Economics and good quantitative skills are also recommended.

Master’s programs start: September 2025

Application deadline: July 2, 2025

Requirements:

An undergraduate/bachelor/grado/laurea, or equivalent degree from an accredited college or university (for Bologna degrees, a minimum of 180 ECTS are required).
University diploma in Economics, Finance, Engineering, Mathematics, Statistics, or Business Administration. Students with academic backgrounds in other subjects will be considered.
An advanced level of English language skills: TOEFL score of 90 or above; IELTS Academic Test score of 6.5 or above; Duolingo English Test 120 points.

Candidates will also be evaluated on the following admission criteria:

Outstanding academic record.
Quantitative skills.
Reference letters.

FAQ

Below you will find our most frequently asked questions but do not hesitate to contact the BSE Admissions Team to learn more about our Master’s programs.

Is the Barcelona School of Economics listed in any rankings?

Here you will find the Rankings Page that displays the rankings BSE is listed in.

Can I apply to more than one program?

You may list up to three programs on your application for the same academic year.

Can I apply for tuition funding?

Each applicant is automatically considered for our tuition fee funding program.

What level of English do I need to have for this Master’s?

An advanced level of the English language is required: TOEFL 90-100, IELTS 6.5, Duolingo English Test 120 points

Do I need to take the GRE General Test to apply?

The GRE General Test is optional but highly recommended for applicants

Can I enter another BSE Master's directly from this program?

Students who successfully complete the Economics Program are eligible for direct admission to the following programs, if they stay for a second consecutive year:

Master’s Degree in Data Science:

Data Science for Decision Making

OR

Master’s Degree in Specialized Economic Analysis:

A 20% discount will be applied on the second program’s tuition fees. All BSE Alumni are eligible for this discount at any time. Learn more about taking a second BSE Master’s degree.

Will this program prepare me for a PhD in Economics?

The Economics Program provides a solid foundation for both professional and academic career paths.

Around 61% of recent graduates have used the Economics Program as a terminal Master’s degree that qualifies them for competitive, technically demanding jobs in the professional world.

Around 39% of recent Economics Program graduates have chosen to continue with more graduate or postgraduate study at top institutions all over the world. Some do so immediately after completing the BSE Master’s. Others choose to get one or more years of work experience, such as a central bank traineeship, before pursuing a PhD.

Are there opportunities for PhD study at the BSE?

There are two PhD programs in the BSE community: the UPF PhD Program at Universitat Pompeu Fabra (UPF) and the International Doctorate in Economic Analysis (IDEA) at Universitat Autònoma de Barcelona (UAB).

While these PhD programs are organized jointly with the BSE, they each have their own distinct admissions processes.

UPF PhD Program

The main point of entry to the UPF PhD program is the BSE PhD Track Program. The PhD Track Program is Year 1 of the UPF PhD.

Students in the BSE Economics Program with outstanding performance in their courses have the opportunity to apply and be admitted to the UPF PhD before finishing the Economics Program. Those students will be asked to apply for admission to the UPF PhD at the beginning of the second term of the Economics Program. Admission will be decided in February. Admitted students will need to follow two years of coursework to move to the PhD research and dissertation phase.

See UPF PhD program structure

UAB PhD Program (IDEA)

Entry to the IDEA PhD program is through the IDEA Master in Research. BSE students can visit the IDEA website to learn more about the admissions process, which is the same for BSE students and external applicants.