Sunday, January 20, 2008

Scholarship in Economics and Finance, CEMFI, Madrid, Spain

The basic graduate offering at CEMFI consists of its Master in
Economics and Finance and its PhD program in Economics. Unlike many
Master programs in the US and elsewhere, ours is self-contained and
offers a well respected qualification.

CEMFI grants a subset of its Master students exemptions from the
tuition fee and/or scholarships for living expenses amounting up to
EUR 10,000 per year. They are granted according to academic merit.
Also, the Fundación Carolina, in cooperation with the Fundación BBVA,
has endowed four scholarships for Latin American students of the
Master. These scholarships amount to 1,200 euros per month for housing
and subsistence, over 19 months, plus 2 additional months for students
who participate in a Summer internship program. They also cover the
Master’s tuition, travel expenses and medical insurance.

An important distinguishing feature of our Master is that it lasts for
two years, the second being essential for shaping the skills of our
graduates, as follows. First year: Basic graduate course work and some
optional subjects. Second year: Specialized courses and research
training through a Master thesis. Our ratio of students to faculty is
between four and five. Thus we can devote a lot of attention to each
student. This is particularly important for the Master thesis, where
the faculty provides guidance to a unique degree.

Members of CEMFI’s faculty publish in top journals and are research
leaders in their fields. They also edit prestigious journals and are
key players at leading learned societies such as the European Economic
Association and the Econometric Society.

Our Master students get very good jobs as economists. For example, in
positions dealing with portfolio and risk management, macroeconomic
forecasting, policy evaluation, or microeconomic consultancy. Our
reputation is 20 years old and CEMFI provides a strong signal of
quality, regularly confirmed by the market. Moreover, we run an
experienced and efficient job placement service.

Students interested in furthering their research training, either
because they aim at a professional career with a stronger research
content or because they aim at an academic position, will continue to
develop their research skills for another three years and complete the
PhD program. Papers from CEMFI’s dissertations have been published in
top journals and we have an excellent record in the PhD job market.

Admission to PhD dissertation work at CEMFI is through the Master. All
students admitted to the PhD program obtain a scholarship, either from
an external source or from CEMFI.

For more information on admission and scholarship applications, please
visit: For any queries, feel free to contact:

Application has to be received by 7. April 2008.