Graduate School of Business
- Direction
- Prof. Neus Palomeras Vilches
- Deputy Direction
- Prof. Anna Toldrá Simats
- Language
- English
- Attendance
- On-campus
- Credits
- 120
- Campus
- Getafe
- Applications
-
☛ Places available: 25
- Departments
- Business Administration Department
CONTACT
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APPLICATION FOR ADMISSION
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- Inicio
The Master in Business and Finance is a research-focused program (MRes) offering specializations in key areas of business: Accounting, Finance, Management, and Marketing. This two-year program equips students with the advanced statistical-econometric tools and the theoretical knowledge that allow to analyze the complexities of the business world through a rigorous analytical lens.
This highly demanding program is oriented to outstanding students with a curious mind and a strong academic background who are eager to master cutting-edge theoretical knowledge and data analytics skills.
The training offered by the program prepares students to explore the business world with a scientific mindset, and it is especially valuable for students considering to pursue PhD studies in business-related topics and for those aiming to specialize in corporate roles that demand strong analytical and quantitative skills.
For prospective PhD candidates, the two years of coursework serve as the first phase of the Doctoral program. This coursework is followed by three to four years dedicated to thesis writing (see details of our PhD in Business & Finance).
The Master’s program offers scholarships to students with high potential of success in the program. The scholarships include a monthly stipend and/or tuition support
The Master is offered by the Business Administration Department at UC3M, known by its long-standing commitment to quality instruction and rigorous training.
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📥 │ PhD Brochure
│MASTER IN NUMBERS
- ☛ 100% in English
- ☛ 80% of international students
- ☛ An average of 60% of our students receives some type of financial support (tuition fee waiver OR tuition fee waiver + monthly stipend)
- ☛ About 70% of our graduates pursue a PhD
- ☛ 1st Spanish public Business School (Eduniversal ranking)
- ☛ The only AACSB-accredited Spanish public Business School
- ☛ In the Top 10 of young European universities (QS Top 50 Under 50 ranking)
- CURRICULUM
- CURRICULUM
The Master’s program is divided into two academic years (60 ECTS each) that cover core, specialized and elective courses.
- Core subjects provide students with the key analytical skills, concepts and tools (1st year)
- Specialized courses build the foundations of the students’ research area of interest (1st and 2nd years)
- Elective courses allow students to develop a multidisciplinary perspective, and can be chosen from other specializations in the master or from other masters at UC3M (2nd year)
Areas of specialization
There are two main areas of specialization in the program, Accounting & Finance and Management & Marketing. In each of these areas, the students can develop deeper specializations.
Accounting
Managing People
Strategy, Innovation & Entrepreneurship
Supply Chain Management
Asset Pricing
Corporate Finance
Consumer Behavior
Quantitative Marketing
— YEAR 1 —
Year 1 - Semester 1
TERM 1 Subjects ECTS TYPE Language Statistics for Economics and Business 5 C Economics for Business I 5 C Strategic Management 5 C TERM 2 Subjects ECTS TYPE Language Quantitative Methods I 5 C Economics for Business II 5 C Financial Economics 5 C Year 1 - Semester 2
TERM 3 Subjects ECTS TYPE Language Quantitative Methods II 5 C TERM 3
Accounting & FinanceSubjects ECTS TYPE Language Accounting 5 E Corporate Finance I 5 E TERM 3
Management & MarketingSubjects ECTS TYPE Language Organization Theory 5 E Marketing 5 E TERM 4 Subjects ECTS TYPE Language Research Methods 5 C TERM 4
Accounting & FinanceSubjects ECTS TYPE Language Dynamic Asset Pricing 5 E Corporate Finance II 5 E TERM 4
Management & MarketingSubjects ECTS TYPE Language Human Resource Management 5 E Innovation Management 5 E — YEAR 2 —
The curriculum of the 2nd year can be designed to adapt to the areas of interest of the student, combining subjects from her/his specialization, from other specializations and from related masters at the university (up to 15 ECTS). The curriculum of each student will be built jointly with the program direction.
Total credits to be completed in the 2nd year are 60 ECTS. Coursework accounts for 45 ECTS and the final Master thesis accounts for 15 ECTS. The Master thesis is a research-oriented project on a topic chosen by the student and developed under the guidance of an expert professor in the student’s field of specialization. It also serves as a research proposal for the PhD for those students entering into the PhD.
Year 2 - Semester 1
TERM 1
Accounting & FinanceSubjects ECTS TYPE Language Accounting Research 5 E Information in Markets and Market Microstructure 5 E TERM 1
Management & MarketingSubjects ECTS TYPE Language Personnel Economics 5 E Research in Strategy, Entrepreneurship & Innovation 5 E TERM 2
Accounting & FinanceSubjects ECTS TYPE Language Advanced Empirical Methods in Finance 6 E Corporate Governance and Auditing 5 E TERM 2
Management & MarketingSubjects ECTS TYPE Language Corporate Governance and CSR 5 E Marketing Research 5 E Year 2 - Semester 2
TERM 3 Subjects ECTS TYPE Language Thesis Methods 3 C TERM 3
Accounting & FinanceSubjects ECTS TYPE Language Banking 5 E TERM 3
Management & MarketingSubjects ECTS TYPE Language Organizational Behavior 5 E TERM 4
Accounting & FinanceSubjects ECTS TYPE Language Research Seminars in Accounting & Finance 5 E TERM 4
Management & MarketingSubjects ECTS TYPE Language Research Seminars in Management & Marketing 5 E TERM 4
Master ThesisSubjects ECTS TYPE Language Master Thesis 15 C vacio course Programs
- QUALITY
General Course Information
☛ First year offered: 2013
PROGRAMME’S QUALITY ASSURANCE
The Academic Committee of the Master’s programme complies with the SGIC-UC3M and it is responsible for the follow-up, analysis, review, assessment and quality of the program, it contributes with proposals to improve the program and produces the “Memoria Académica de Titulación” (Programme Report).
FACULTY AND COURSE PLAN
Graduate Profile and Competences
- CURRICULUM
- FACULTY
Our program offers instruction from top-quality faculty with strong research interests and publishing in the top academic outlets. Our faculty members have obtained their PhDs from the most prestigious universities in the US (MIT, Pennsylvania, Stanford, UCLA) and Europe (Bocconi, CEMFI, LSE, Toulouse, Universitat Autònoma de Barcelona or Universitat Pompeu Fabra).
Moreover, the master benefits from the strong collaborative ties we maintain with prestigious academics from top universities, who visit the department for seminars or short-courses. In the last years, we have invited reputed professors to give short specialized courses to our students, such as: Prof. Andrés Almazán (McCombs School of Business, U. Texas), Prof. Ashish Arora (Duke University), Prof. Gerald Dwyer (Center for Financial Innovation and Stability), Prof. Manuel F. Bagüés (University of Warwick), Prof. Diego García (University of Colorado, Boulder), Prof. Wayne Landsman (UNC Kenan-Flagler Business School) Prof. David Luna (Zicklin School of Business, Baruch College), Prof. Chris Rider (University of Michigan's Ross School of Business), Prof. Ana Valenzuela (Zicklin School of Business, Baruch College) or Prof. Fernando Zapatero (USC Marshall School of Business).
UC3M FACULTY
- BALBÁS, ALEJANDRO
Department of Business Administration
Full Professor
PhD in Mathematical Sciences
Brief CV
- BARROSO, ALICIA
Department of Business Administration
Associate Professor
PhD in Economics - CEMFI
Brief CV
- BONACHE, JAIME
Department of Business Administration
Full Professor of Business Organization
PhD in Business Administration - Universidad Autónoma de Madrid
Brief CV
- DESENDER, KURT
Department of Business Administration
Associate Professor
PhD in Economics, Management and Organization - Universidad Autónoma de Barcelona
Brief CV
- DE VRIES, ELINE
Department of Business Economics
Associate Professor
PhD in Economics, Management and Organization - Groningen University
Brief CV
- ESTEBAN BRAVO, MERCEDES
Department of Business Administration
Full Professor
PhD in Economics - Universidad Carlos III de Madrid
Brief CV
- GARCÍA LARA, JUAN MANUEL
Department of Business Administration
Full Professor
PhD in Accounting - Universidad de Valencia
Brief CV
- GARCÍA OSMA, BEATRIZ
Department of Business Administration
Full Professor
PhD in Accounting & Finance - Lancaster University
Brief CV
- GIOMETTI, MARCO
Department of Business Administration
Assistant Professor
PhD in Finance - The Wharton School, University of Pennsylvania
- GUTIÉRREZ, ISABEL
Department of Business Administration
Full Professor
PhD in Business Economics - Universidad de Sevilla
Brief CV
- GUTIÉRREZ, MARÍA
Department of Business Administration
Associate Professor
PhD in Economics - Universidad Complutense de Madrid
Brief CV
- KARALAS, GEORGIOS
Department of Business Administration
Assistant Professor
PhD in Finance - University of Piraeus
Brief CV
- MACÍAS, MARTA
Department of Business Administration
Associate Professor
PhD in Economics and Business - Universidad de Jaén
Brief CV
- MARÍN, JOSÉ
Department of Business Administration
Full Professor
PhD in Economics - University of Pennsylvania
Brief CV
- MARTÍNEZ-MIERA, DAVID
Department of Business Administration
Associate Professor
PhD in Economics - CEMFI y UIMP
Brief CV
- MEILÁN VILA, ANDREA
Departament of Statistics
Juan de la Cierva Fellow
PhD
Brief CV
- MELERO, EDUARDO
Department of Business Administration
Associate Professor
PhD in Management - Universitat Pompeu Fabra
Brief CV
- MINGUEZ, ROBERTO
Departament of Statistics
Visiting Professor
PhD in Applied Mathematics – Universidad de Cantabria
Brief CV
- MONTES, MARIA JOSÉ
Department of Business Administration
Associate Professor
PhD in Economics and Quantitative Methods - Universidad Carlos III de Madrid
Brief CV
- MORENO, DAVID
Department of Business Administration
Associate Professor
PhD in Economics - Universidad de Alcalá
Brief CV
- ORTEGA, JAIME
Department of Business Administration
Associate Professor
PhD in Economics - Massachusetts Institute of Technology
Brief CV
- PALOMERAS, NEUS
Department of Business Administration
Associate Professor
PhD in Management - Universitat Pompeu Fabra
Brief CV
- PENALVA, JOSÉ
Department of Business Administration
Associate Professor
PhD in Economics - University of California, Los Angeles (UCLA)
Brief CV
- PEÑA, NACHO
Department of Business Administration
Full Professor
PhD in Economics - Universidad Autónoma de Madrid
Brief CV
- REIS, SAMIRA
Department of Business Administration
Associate Professor
PhD in Business Administration - Bocconi University
Brief CV
- RICO, RAMÓN
Department of Business Administration
Full Professor
PhD in Psychology – Universidad Autónoma de Madrid
Brief CV
- RUDIGER, JESPER
Department of Business Administration
Associate Professor
PhD in Economics – Universidad Carlos III de Madrid
Brief CV
- RUIZ VERDÚ, PABLO
Department of Business Administration
Associate Professor
PhD in Economics - Stanford University
Brief CV
- SAMARTIN, MARGARITA
Department of Business Administration
Associate Professor
European Doctorate in Quantitative Economics - CORE-LSE-DELTA-U. Bonn
Brief CV
- SERRANO, PEDRO
Department of Business Administration
Associate Professor
PhD in Finance – Universidad del País Vasco
Brief CV
- TOLDRÀ, ANNA
Department of Business Administration
Associate Professor
PhD in Economics - University of Toulouse
Brief CV
- VEIGA, HELENA
Departament of Statistics
Associate Professor
PhD in Economics - Universitat Autònoma de Barcelona
Brief CV
- VIDAL, JOSÉ
Department of Business Administration
Full Professor
PhD in Economics - Universidad Carlos III de Madrid
Brief CV
- BALBÁS, ALEJANDRO
- ADMISSION
- ADMISSION
Application
The request must be submitted electronically through our application system. Before beginning the admission process, please read the following information:
Requirements
Admission requirements to the program entail the possession of a bachelor’s degree, or equivalent, with quantitative training in the fields of Business Administration or Economics or related areas (Statistics, Mathematics, Engineering, etc.).
Graduates from programs with a weak quantitative content need to provide strong evidence that they have sufficient quantitative skills or ability to acquire them (high quantitative GRE scores, high scores in quantitative subjects, extra-courses or specialization/minors in quantitative subjects, etc.).
Language requirements
Students must demonstrate a working knowledge of the English language, with a minimum required level of B2.
English skills must be accredited with the results of an official English diploma (CAE, IELTS, TOEFL).
Check here the accepted diplomas and minimum scores required.
Admission criteria
Admission will be decided by the Master’s Academic Committee. Candidate selection will be done on the basis of the following criteria:
- Academic record
- Quantitative background of students in Business Administration or related areas
- The prestige of the university of origin
- Letters of recommendation and motivation.
The candidate’s academic records and background will have a minimum weight of 50% and the university of origin at least 25%.
Documents
Document Notes / explanations Application Form Personal information and academic data of the candidate. Two reference letters Recommendation letters are very important to evaluate the candidate. They must be recent letters by professors who can provide relevant information about the ability and motivation of the candidate to pursue MRes/PhD studies. In the last step of the online application, the candidate must provide the name and e-mail of the professors who are suggested to act as referees. The University will contact them to indicate the procedure to submit the recommendation letters. Affidavit of previous studies and conditioned enrollment To be submitted only if the candidate has not completed the bachelor's degree at the time of application Official Degree (As soon as it is available) Official Bachelor’s degree. Other titles will be considered as complementary documents to enhance the candidate’s application. Official academic transcripts Academic records from the candidate’s Bachelor’s degree. Transcripts from other academic degrees will be considered as complementary documents. You can submit provisionary grades from a program you are currently enrolled Curriculum vitae Resume in English A brief statement of purpose Motivation letter stating your interest for the program and your field of interest (in English) GRE scores* Not compulsory but highly recommended English Certificate Official English diploma (see language requirements) students with foreign university degrees
Once admitted to the Master’s program, students holding a university degree from a higher education institution outside the EHEA must provide the diploma, legalized through diplomatic procedures or by The Hague Apostille, for enrollment. They must also submit their transcript of records, including the grade point average, duly legalized.
More information about Legalization of Foreign Documents.
If needed, documents must be accompanied by an official sworn translation into Spanish.
- ENROLLMENT
TUITION FEES*
Reservation fee: €450
- it will be paid once the student receives notification of admission to the master’s, and deducted from the first tuition payment
- the reservation fee will only be refunded if the master program is cancelled
60 ECTS in the first academic year:
- EU students: €2,701.2 (€45.02/ECTS credit)
- Non EU students: €5,044.2 (€84.07/ECTS credit)
NOTE: the indicated public prices do not include in any case, neither the ECTS corresponding to the Formative Complements that the student must take (only master's degrees with previous Formative Complements), nor the cost of issuing the master’s degree certificate.
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* Current fees for the 24/25 academic year, pending approval by the Community of Madrid for the 25/26 academic year.
Additional information
- You may enrol on the master’s degree after completing the admission process and receiving formal confirmation of your acceptance.
- When performing the enrolment you can choose between Full-time enrolment or Part-time enrolment.
- The email address provided upon enrolment will be used for formal communications; students are therefore kindly requested to check their mail regularly.
- Pursuant to the regulations of the Universidad Carlos III de Madrid, a student failing to pay any part of the fees will not be admitted and the enrolment process will be terminated. In cases of cancellation of enrolment due to non-payment, the University may demand the payment of the pending amounts for enrolment in previous academic courses as a prior condition of enrolment.
No diploma or certificate will be issued if a student has any outstanding payments.
- ADMISSION
- SCHOLARSHIPS
The Master's program offers scholarships to students with an outstanding academic background. The scholarships include:
- tuition fees waivers
- full scholarships (tuition + monthly stipend)
All eligible applicants to the program are provided with information about the available scholarships.
These scholarships are possible thanks to the resources provided by private sponsors, the University, and the Department of Business Economics.
General information on scholarships
For more information on specific scholarships of interest, awarded by the Universidad Carlos III de Madrid as well as other agencies or organizations, please refer here:
- PRACTICAL INFORMATION
- JOB PLACEMENT
Students from the Master in Business and Finance have found employment in institutions and firms such as:
- Academic positions at universities (for those following the PhD) such as: Aalto School of Business, Bayes Business School, BI Norwegian Business School, Copenhagen Business School, CUNEF, ESADE, ESCP Europe, Erasmus University, Groningen University, IESE, Instituto de Empresa (IE), ICADE, ITAM, Jinan University, Lancaster University, Max Planck Institute, Neoma Business School, Norwegian School of Economics, Pontificia Universidad Católica de Chile, Stockholm School of Economics, Universidad Alberto Hurtado, Universidad Autónoma de Barcelona, University College London, Universidad de Navarra, Universidade Nova de Lisboa, Universitat de les Illes Balears, University of Antwerp, University of Bristol, University of Glasgow, Stockholm School of Economics, Tilburg University, Warwick Business School, Xiamen University or Zhongnan University of Economics and Law.
- Research institutions and regulators such as: AIReF, Banco Central do Brasil, Banco de España, Spanish stock market regulator (CNMV), Portuguese stock market regulator (CMVM)
- Companies such as: AB InBev, Acuity Knowledge Partners, Aptimus Capital Partners, Amazon, Bank of China (London), Bertelsmann SE, BBVA Research, Boston Consulting Group, CommerzBank, Cushman & Wakefield, Deutsche Telekom, Everis, Goldman Sachs, KPMG, Management Solutions, Morgan Stanley, Newbers Advanced Analytics, Nfq Advisory, Santander Corporate & Investment Banking, Securitas Direct or Repsol YPF.
University-wide placement services
The University's Foundation (Fundación Universidad Carlos III) holds a careers service (UC3M Guidance & Employment) which orients, informs and helps graduates to access the labour market.