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Master in Economic Analysis

Graduate School of Economics and Political Science

Imagen presentación del máster
Prof. Antoine Loeper
120 ECTS


☛  Places available: 20

Economics Department


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    The Graduate Program in Economics consists of a two-year Master in Economic Analysis, followed by a three year PhD in Economics. The Master in Economic Analysis is aimed at equipping students with the necessary skills to do high quality economic research. After following a core curriculum during the first three semesters, students choose specialized courses during the last semester. The courses bring students to the research frontier and provide them with quantitative and analytical tools to analyze relevant economic problems.

    Students completing satisfactorily the required coursework of the Master in Economic Analysis and passing qualifying examinations in the three major fields (macroeconomics, microeconomics, and econometrics) are admitted to the PhD program.

    The master is intended for students with a competitive curriculum, solid quantitative skills and a strong motivation to engage in advanced economics research. Most of the students graduated in our program continue towards a PhD either in our department or somewhere else. A significant part of our graduates also finds positions in international organizations, research centers and consultant agencies.

    Our graduate program is a member of ENTER (European Network for Training in Economic Research), a cooperative venture of eight leading European Economic Departments with international PhD programs. Doctoral students can spend two semesters in one or two nodes of the network and ENTER also organizes an annual conference meeting of doctoral students.


    Alumnos de Economía celebrando que han ganado

    UC3M Econometrics team, formed by students of the Ph.D. in Economics, wins the “Econometric Game 2018”. In second position is the University of Harvard. UC3M and University of Copenhagen share the best result of 3 wins.

    reasons to study master in economic analysis


    • 75% of students are foreign born
    • ☛ About 95% of our graduates are accepted into a PhD program in Economics
    • ☛ About 85% of first year students get full financial aid
    • ☛ Our graduate Program in Economics is ranked 32nd world-wide, based on the placement of PhD students since 90
    • ☛ UC3M ranked 47th worldwide in the 2021 QS World University Rankings in the category Economics & Econometrics


    Link button to more information page of the master




      Department of Economics
      Associate Professor
      PhD in Economic Sciences - CEMFI and Universidad Complutense de Madrid
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      Department of Economics
      Associate Professor (Researcher Juan de la Cierva)
      PhD in Economics - St. Gallen University, Suiza
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      Department of Economics
      Professor Tenure Track
      PhD in Economics - University College London
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      Department of Economics
      Full Professor
      PhD in Economics - University of California, San Diego
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      Department of Economics
      Associate Professor (Researcher Ramón y Cajal)
      PhD in Economics - Toulouse School of Economics
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    • PAPPA, EVI
      Department of Economics
      Full Professor
      PhD in Economics - Pompeu Fabra University
      Brief CV
      Department of Economics
      Associate Professor (Researcher Juan de la Cierva)
      PhD in Economics - Duke University
      Brief CV
      Department of Economics
      Associate Professor
      PhD in Economics - University College London
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      Department of Economics
      Associate Professor
      PhD in Economics - University of Minnesota
      Department of Economics
      Associate Professor (Researcher Juan de la Cierva)
      PhD in Economics - Washington University in St. Louis
      Brief CV

    ☛ More information about our Faculty


      AccesS to admissions

      ✎ │ Application process


      🖱️ │ Click here to see the different deadlines


      Access requirements to the Master in Economic Analysis are:

      • Have a Bachelor’s degree or equivalent foreign degree (that empowers in the issuing country for access to master's degree) that ensures the acquisition of a solid training in quantitative methods, although not necessarily in Economics
      • Accredit solvency in the quantitative analysis. The most recognized evidence is the score on the GRE typed test. Applications below the 80th percentile in the quantitative section are not usually considered
      • Be supported by at least two professors or specialists in the field of recognized prestige
      • Accredit a minimum level of knowledge of the English language equivalent to a B2 level according to the Common European Framework of Reference for Languages (CEFR)

      Admission criteria

      An admission committee formed by members of the department of Economics and faculty of the master studies will assess the applications and make proposals to the Direction of the Master in Economic Analysis.

      1. The adaptation of the previous training to the objectives of the master's degree (university of origin and studies completed)*
      2. The applicant's academic record*
      3. The results achieved in the subjects with quantitative contents studied in their previous studies, and the result in GRE exams whose objective is to measure the capacity of quantitative analysis*
      4. The letters of recommendation presented
      5. The reasons given by the applicant to justify their interest in the program
      6. CV of the applicant

      * Criteria 1, 2 and 3 will have a minimum weight of 75%.

      Applications are evaluated in three rounds. Early applications are strongly encouraged as we cannot guarantee vacancies for last deadlines.


      • If you have any further questions, please contact us at:
      • For problems with the online application, please contact the Postgraduate Student Office through this contact form

      📌 │ Follow for more updated information about the Graduate Program


      Document name Notes/explanations
      Application form Personal information and academic data of the candidate.
      Reference letter format Reference letters will be received through the admission application platform. To do this, the student will add the emails of at least two referees, who will receive a link where they can upload their letters.
      IMPORTANT: The format of the reference letter that the referee must use is the one that appears in this section. It is important that the student sends it to the referees before they receive the notification.
      ATTENTION: Reference letters received through will not be accepted.
      Copy of official degree or payment of fees

      In lack of that:
      Affidavit of previous studies and conditioned enrollment
      The degree or payment of fees required in this section refers to the Bachelor’s, which are the minimum studies required for admission. Master's degrees may be provided in the section "Other documents of interest".
      Documents not issued in Spanish must be accompanied by the corresponding official translation. Documents issued or officially translated in English are also accepted.
      Those students who have not completed their Bachelor’s at the time of applying for admission must instead provide the affidavit of previous studies that appears in this section.
      Official transcript The transcript required in this section refers to the Bachelor’s, which are the minimum studies required for admission. Master's transcripts may be provided in the section "Other documents of interest".
      Documents not issued in Spanish must be accompanied by the corresponding official translation. Documents issued or officially translated in English are also accepted.
      Curriculum vitae A specific format is not required.
      Motivation letter A brief statement of purpose is important in establishing your research agenda.
      GRE General Test Certificate (optional) It is not compulsory, but highly recommended. You need to upload your results directly to the application for admission.Although no official cut-off is applied for the GRE scores, candidates must be above the 80th percentile in the quantitative section. For information about the tests, regional locations and costs, you can visit
      Accreditation of level of English Minimum level B2, recommended C1. You need to upload your results directly to the application for admission.
      Students who have completed their Bachelor’s degree or a Master’s Degree in English or credit an Erasmus stay of at least 1 semester in which they have completed courses in English, do not need to send their scores, but submit n this section the documentation that proves that circumstance (academic transcript, European Supplement to the Degree, etc.)
      Other documents of interest Additional documentation that you wish to provide, including Master's studies finished or in process, can be submitted in a single file in the section called “Other documents of interest”.

      students with foreign university degrees

      Once admitted to the Master’s, students with university degrees issued by a higher education institution belonging to an educational system outside the EHEA, must provide, for enrolment, the diploma, legalized by diplomatic procedures or by means of The Hague Apostille. They must also submit the transcript of records, with 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.



      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)

      ✎│Tuition fees

      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.


      * Current fees for the 23/24 academic year, pending approval by the Community of Madrid for the 24/25 academic year.

      Additional information

      • You may enrol on the master’s degree after completing the admission process and receiving formal confirmation of your acceptance.
      • Information about Full-time enrollment.
      • 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 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.

      ✎│Enrolment master’s programmes

      ✎│ECTS credits recognition


    General information on scholarships

    For more information on specific scholarships of interest awarded by UC3M and by other agencies or organisations.

    🎓 │ Scholarships to study a University Master

    Job Market

    The Department of Economics supports PhD graduates in their job market search. Please, see the recent placement of our PhD graduates here.

  • FAQ

    1. Where can I get further information?

    For further information please check our information page about our graduate program and the current Student’s Guide . If you have any further questions you can contact us by our form, although we appreciate that you first check the information available in our webpages first.


    2. Which documents do I have to translate and legalize?

    Legalized documents are only required after a formal offered has been made and a prerequisite to register. The particular requirements depend on the country where you got your Bachelor’s degree:

    If the student has a European Bacherlor’s degree, or belonging to the EHEA, there are two possible options:

    • Certified copy of your Bachelor’s degree and Transcripts together with a certified OFFICIAL translation of both documents into Spanish.
    • SET (suplemento europeo al título) or Diploma Supplement. Student may provide a copy of the Diploma and a copy of the Diiploma Supplement (both copies must be certified at the Registrar’s office here on campus, or at any Spanish Embassy). If the Diploma Supplement is provided, you do not need to legalize, nor translate them. THIS IS THE EASIEST OPTION FOR STUDENTS.

    Students from outside the European Union, have to provide:

    • All the documents must be legalized and translatied when admitted to the Master.
    • Certified copy of your Bachelor’s degree and Transcripts together with a certified OFFICIAL translation of both documents into Spanish. Letter from your previous University certifying that you would be eligible in that University for postgraduate studies.

    More information about Legalization of Documents and official sworn translation into Spanish.

    3. Financial Aid / Funding

    In order to apply for Financial Aid you will just have to select the corresponding option within the Application form. No other document concerning financial aid will be requested during these first steps. If you are finally admitted, you will be contacted for further documents.


    4. Is GRE mandatory requirement to apply?

    GRE is not mandatory, but strongly recommended. As part of the evaluation process for the applications, GRE score provides additional information about quantitvative skills of the applicants.


    5. What are the application deadlines?

    The admission periods can be consulted in the following link. Students who do not receive an offer and whose application is not explicitly rejected are automatically considered in the next round. Students are strongly encouraged to apply early as there are no guarantees that there will be places available in the last period.


    6. Will I receive financial aid if accepted?

    We usually admit students with financial aid in the form of a tuition waiver and a monthly stipend of around 950 €. Continuing financial aid is subject to satisfactory academic progress.