Official University. Postgraduate. Program. Degree. in Macroeconometrics. Madrid. Master/60 ECTS. Executive Program. and Finance.

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1 Postgraduate Program Official University Degree Master/60 ECTS Executive Program Madrid M3F Master in Macroeconometrics and Finance

2 Summary M3F Program Objectives / 2 Structure / 2 Courses / 3 Directors / 4 Faculty / 4 Admission Requirements / 5 Evaluation / 5 Award of Degree / 6 Schedule / 6 Application and Tuition Fees / 6 UIMP Grants / 7

3 M3F Master in Macroeconometrics and Finance Official University Degree Postgraduate Executive Program September - June Location Aulas CECO, Edificio A del Instituto de Estudios Fiscales Avda. Cardenal Herrera Oria, Madrid Universidad Internacional Menéndez Pelayo (UIMP) offers an Executive Master Program with the highest academic standards in macroeconomics, econometrics and finance, promoted jointly by Instituto de Estudios Fiscales (IEF), and Centro de Estudios Económicos y Comerciales (CECO), and taught in English, by top international academics and practitioners. Faculty of the Master in Macroeconometrics and Finance, M3F, consists of highly reputed professors and researchers from top university departments. It also includes invited professors and other professionals that are experts in the fields of interest of the program. M3F courses combine rigor in economic analysis and econometric techniques with advanced practice in both finance and policy issues, and it is designed for mid-career professionals, in the public administration and the private sector, seeking to promote their careers internationally in public policy or the financial markets. M3F is one-year program that can be taken either over one or two academic courses in accordance to a part-time basis. It also offers the needed preparation for those willing to pursue studies towards a PhD in Economics, Finance or Public Policy according to the official requirements of the different universities. 1 / UIMP

4 Objectives The objective of the M3F is to offer to government officials and other professionals in Economics and Public Administration mid-career qualifications with the highest academic standards. The M3F is oriented to well established, high performing professionals in the public administration and in the private sector: > Who seek to promote their careers domestically or internationally. > Who seek to move to a leadership position internationally in public policy or the financial markets, for instance at international organizations either intergovernmental or private. > Willing to pursue studies towards a PhD in Economics, Finance or Public Policy. Quantitative and empirical methods are key in these fields and are central to the M3F. The M3F is designed for professionals with a taste for quantitative methods and aiming to achieve a rigorous knowledge of macroeconomic policy, applied econometrics, and finance. Structure > The Master program (M3F) is a part-time one year program, but it is flexible so that completion of the program in two years is an option. It is taught in English by top international academics and practitioners, on a part-time basis. > The degree requires the successful completion of 60 ECTS (European Credit Transfer System) credits of graduate courses (6 credits are equivalent to a 50 hour course or 150 hour student s work). > The program is structured in three terms: Fall, Winter and Spring, and over a total of 33 weeks. > In the option M3F over two years, it roughly involves four courses per term of two to three hours a week (for a total of 8 to 13 hours per week) in a schedule compatible with professional activity (Friday + Saturday) to complete 80 to 130 hours per term. > The option in one year implies an extra load of 30 to 60 hours more per term (plus late sessions during two working days). > All in all, this amounts to 51 ECTS of courses plus 9 ECTS for the Master Project. 2 / UIMP

5 Courses Fall Term (10 ECTS) Code Applied Economic Theory (3 ECTS) Mathematical and Statistical Analysis (3 ECTS) Applied Financial Theory (2 ECTS) Financial Risk Management I. Measurement (2 ECTS) Courses that can be postponed to 2 nd year (3 ECTS): Code Financial Risk Management II. Banking (2 ECTS) English for Economics (1 ECTS) Winter Term (10 ECTS) Code Growth, Cycles and Macroeconomic Policy I (3 ECTS) Cross Section and Panel Data Econometrics I (4 ECTS) Corporate Finance I (3 ECTS) Courses that can be postponed to 2 nd year (9 ECTS): Code Growth, Cycles and Macroeconomic Policy II (2 ECTS) Cross Section and Panel Data Econometrics II (2 ECTS) Corporate Finance II (2 ECTS) Financial Instruments and Derivatives (3 ECTS) Spring Term (10 ECTS) Code Money, Inflation and Macroeconomic Policy I (3 ECTS) Multivariate Methods and Financial Econometrics I (4 ECTS) International Trade and Finance I (3 ECTS) Courses that can be postponed to 2 nd year (9 ECTS): Code Money, Inflation and Macroeconomic Policy II (2 ECTS) Multivariate Methods and Financial Econometrics II (2 ECTS) International Trade and Finance II (2 ECTS) Project Finance and Banking (3 ECTS) Master Project (9 ECTS) Due late June or late September, after courses. 3 / UIMP

6 Directors The Master in Macroeconometrics and Finance has a scientific committee supported by a scientific council. The scientific committee includes also Professor Raquel Carrasco, Professor Antonia Díaz and Professor Teodosio Pérez. Scientific Director Alfonso Novales PhD Minnesota Catedrático de Fundamentos del Análisis Económico Universidad Complutense de Madrid Program Director Luis Puch PhD Carlos III Profesor Titular de Fundamentos del Análisis Económico Universidad Complutense de Madrid Faculty Finance Chair Alfonso Novales Ángel León, PhD Alicante, Profesor Titular de Fundamentos del Análisis Económico, Universidad de Alicante Jesús Vázquez, PhD Stony Brook, Catedrático de Fundamentos del Análisis Económico, Universidad del País Vasco Macroeconomics Chair Luis A. Puch Antonia Díaz, PhD Minnesota, Profesor Titular de Fundamentos del Análisis Económico, Universidad Carlos III de Madrid Quantitative Methods Chair Teodosio Pérez, PhD California San Diego, Profesor Titular de Fundamentos del Análisis Económico, Universidad Complutense Raquel Carrasco, PhD CEMFI, Profesor Titular de Fundamentos del Análisis Económico, Universidad Carlos III 4 / UIMP

7 Other Brendan Anglin, Master Harvard Negotiating Project. Chair of English for Economics María Gutiérrez, PhD CEMFI, Profesor Titular de Economía Financiera y Contabilidad, Universidad Carlos III Belén Jerez, PhD UCLA, Profesor Titular de Fundamentos del Análisis Económico, Universidad Carlos III Gustavo Marrero, PhD Universidad Autónoma de Barcelona, Profesor Titular de Fundamentos del Análisis Económico, Universidad de La Laguna José Penalva, PhD UCLA, Profesor Titular de Economía Financiera y Contabilidad, Universidad Carlos III de Madrid Javier Población, PhD Alcalá, Inspector de Entidades de Crédito, Banco de España Carmelo Rodríguez, PhD Universidad Autónoma de Barcelona, Investigador Ramón y Cajal, Universidad Complutense de Madrid Jesús Ruiz, PhD Complutense, Profesor Titular de Fundamentos del Análisis Económico, Universidad Complutense Madrid Eva Senra, PhD Carlos III, Profesor Titular de Economía Aplicada, Universidad de Alcalá Gregorio Serna, PhD Carlos III, Profesor Titular de Economía Financiera y Contabilidad, Universidad de Alcalá Admission Requirements For admission to the Master, students must have an official university degree from an institution of higher education in a country included in the European Higher Education Area (EHEA). Students with an equivalent degree issued by institutions outside the EHEA can be accepted without an explicit, official recognition of qualification, after proving the equivalence of the education level and that such as degree gives access to Master education in the country of the issuing institution. The admission of these students does not mean that their degree is recognized in any context other than the admission to the Master. Prospective candidates to the program are graduate students not only with a University degree but also with a general purpose Master in Economics or with a comparable professional experience. The former typically includes those requirements for the access to the staff in public administration. Our target candidates are government officials and professionals with broad duties in policy management, in economics and statistics for policy purposes, or analysts in macroeconomics, finance or econometrics for institutions or corporations. A high level of English is required, since the Master is taught in English and the Master Project is carried out in English. The admissions committee will take into account CV, letters of reference, current position, scores on the GRE and TOEFL if available, and any other information provided by the candidate. Evaluation > Evaluation is continuous, via course exams. Problem sets and other student s work will additionally contribute to the evaluation. > Successful completion of the courses will require a minimum grade. > Students have a maximum of two examination sittings per year to pass each course and must complete all the credits in the program within two years (in the option M3F one year program). 5 / UIMP

8 Award of Degree Upon successful completion of 51 ECTS credits and of the Master Project (9 ECTS), the students will receive the Official Master s Degree in Macroeconometrics and Finance, issued by the Chancellor of the UIMP. Schedule The courses start mid-september and end late June. Lectures take place Friday late afternoon (from 16:00 to 21:15) and Saturday morning (from 9:15 to 13:00). These schedules do not prevent other classes can be scheduled at different times throughout the program, if necessary, to comply with the training objectives. Application and Tuition Fees Both the registration procedure and the required documents should be consulted in Maximum number of students: 30 Application period: Late April to early September Applications for admission are made through the site The documents should be send by mail to attached in JPG or PDF format. Required documentation: 1. Copy of DNI (National Identity Document) for Spaniards; Passport or Foreign Identification Number (NIE) for non-spaniards. 2. Certified copy of Degree giving access to the University Master s. 3. Personal academic transcripts (original or certified photocopy). 4. Curriculum Vitae. 5. One passport-size photo. Students with a non-homologated foreign degree, or those with a degree in the process of being homologated, are also requested to provide: 1. A document from the university where they have studied attesting to the fact that the courses completed qualify the student for access to post-graduate study in the university s home country. 2. Personal academic transcripts indicating the official duration of one s studies in academic years, the course of studies followed, classes taken, and the grades and credits earned in each class. Important: Academic documents presented are to be legalized and translated into Spanish, where necessary. The requirement for legalization shall not be enforced for documents issued in member states of the European Union, or from states having signed the European Economic Space Agreement. Admission of the candidates will be decided by a designated Academic Commission. 6 / UIMP

9 Registration period: Until the end of September Tuition Fee: Students should pay at CECO the tuition fee (rate per ECTS). Students should pay at UIMP the following fees: > Administrative fee, in the first registration > Office expenses, per year > School insurance (under 28 years old), per year Other charges: > Personal academic certification > Issuance of Master s Degree NOTE: Registration and deadlines: Tuition and administrative fees, and deadlines for each academic year, are published on the website of the UIMP, upon approval by the Ministry of Education, Culture and Sports. UIMP Grants UIMP may grant Master s students exemptions from the registration fees. These are granted according to academic merit. Queries and administrative procedures are published in 7 / UIMP

10 8 / UIMP

11 9 / UIMP

12 M3F Master Macroeconometrics and Finance MINISTERIO DE EDUCACIÓN, CULTURA Y DEPORTE Information Secretaría de Estudiantes UIMP Isaac Peral, Madrid /20 Fundación CECO Aulas CECO Edificio A del Instituto de Estudios Fiscales Avda. Cardenal Herrera Oria, Madrid Code: P02H

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