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Master in Economic Development and Growth (MEDEG)

Graduate School of Business and Economics

Graduate Business and Economy School
Prof. Carlos Álvarez Nogal
Universidad Carlos III, University of Groningen (The Netherlands), University of Lund (Sweden) (Co-ordinating Institution)


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    Imagen Máster en Desarrollo y Crecimiento Económico

    Universities and departments involved:

    •     University of Groningen – Groningen Growth and Development Centre
    •     Universidad Carlos III Madrid – Department of Social Sciences and Department of Economics
    •     Lund University –Department of Economic History, Lund School of Economics and Management

    The Master Course in Economic Development and Growth-MEDEG is a full-time masters program organized by a consortium of three top-class European Universities:


    •     University of Groningen (The Netherlands)
    •     Universidad Carlos III Madrid
    •     Lund University -­ Sweden (co-ordinating institution)


    MEDEG lasts two academic years, includes 120 ECTS (60 ECTS/year) and consists of 17 to 19 course modules delivered through a combination of lectures, classes, tutorials and essay writing with individual supervisors. MEDEG students can choose to spend their first year in Groningen or in Madrid and they all spend their second year in Sweden.

    Another key component of the program are a 8.000-word research dissertation to be written at the end of the first year and a 15.000-­word dissertation to be written at the end of the second year, on subjects chosen by students in consultation with supervisors.






    Option I. Universidad Carlos III de Madrid (UC3M)

    Option II. University of Groningen (RUG)

    1st Semester
    1st Year
    Sep – Jan


    Induction courses and presentation

    Mandatory courses
    Introduction to Econometrics (3 ECTS)
    Microeconomics (3 ECTS)
    International Economics (3 ECTS)
    Economic Growth: theory and empirics (6 ECTS)
    Development Economics (6 ECTS)
    Econometrics I: time series (3 ECTS)





    (24 ECTS)

    Induction courses and presentation
    Figures in parentheses denote semester and period

    Mandatory courses (5 ECTS each)
    Foreign Direct Investment and Trade (1.1)
    Competitiveness of Firms and Nations (1.1)
    Growth and Development Policies (1.1)
    Trade, Environment and Growth (1.2)
    Research Seminar IE&B (1.2)

    Elective courses (one from list below, all 5 ECTS)
    Global finance and growth (1.2)
    Economic Growth in History (1.2)
    Finance and development (2.2)

    (25/30 ECTS)

    2nd Semester
    1st Year
    Jan – June


    Mandatory courses (3 ECTS each)
    Economic Growth, Convergence and Globalization
    Economic Development of Latin America
    Econometrics II: micro-econometrics
    Advanced Empirical Methods

    Elective courses (chose 3 courses, 3 ECTS each)
    Labour Markets in Developing Economies
    Agrarian Development and Rural Institutions
    Financial Systems in Developing Economies
    Institutions, Growth and Development
    Measurement of Living Standards, Poverty and Inequality

    (24 ECTS)

    First year Master’s thesis (12 ECTS)

    Workshop during the semester (with teacher participation from RUG/LU)
    - about thesis writing
    - information for the second year

    Totals 60 ECTS

    Mandatory courses (5 ECTS each)
    Economic Geography (2.1)
    Country Studies (2.2)

    Master’s Thesis (20 ECTS, 2.1-2)

    Elective courses
    (the one below or one of the two offered in period 1.2, all 5 ECTS)

    Finance and development (2.2)
    (35/30 ECTS)

    Workshop the week before Easter break (with teacher participation from LU/UC3M)
    - about thesis writing
    - information for the second year








    Totals 60 ECTS

     Summer holidays ca 10 July – 25 August



    Lund University (LU)
    1st Semester
    2nd Year
    Sep – Oct




    Nov – Jan

    The semester starts with three introductory days by end of August.

    Mandatory course
    Development of Emerging Economies (7.5 ECTS)

    Optional course, one to be chosen (7.5 ECTS each)
    Economic Growth over Time and Space
    Causes of Demographic Change
    Small Business Economics and Entrepreneurship
    Advanced Public Economics

    Optional courses, two to be chosen (7.5 ECTS each)
    Population and Living Standards
    China and the Asia Pacific
    Economics of Innovation
    Innovation, Energy and Sustainability
    Human Capital in a Historical Perspective
    Applied Microeconometrics
    Advanced Development Economics
    Applied International macroeconomics
    Geographical Information Systems

    (30 ECTS)

    2nd Semester
    2nd Year

    Jan – March



    April – May

    Between 7-15 June
    (4 days)

    Mandatory course
    Comparative Analysis of Economic Change (5 ECTS)

    Optional course, one of the following (7.5 ECTS each)
    The Global Economy and Long-Term Economic Growth
    Institutions, Equity and Economic Growth
    Consequences of Demographic Change
    Advanced Time Series Analysis

    Master’s thesis - Independent research, second year (15 ECTS). Deadline 31 May

    Second Year Workshops (2.5 ECTS)
    - Thesis seminars and examination
    - Guest lectures
    - Excursion to international organization
    - Students’ evaluation of MEDEG
    - Graduation ceremony

    Totals 60 ECTS



    The teaching staff of the MEDEG is composed by prestigious academics with high research profile and long experience in teaching, both at undergraduate and graduate levels. Senior staff is actively involved in teaching at the MEDEG, provides intellectual leadership and promotes excellence.

    The teaching staff of the Universidad Carlos III de Madrid is formed by instructors from the Departments of Social Sciences and Economics. The department of Economics is ranked among the ten best European departments in its field.

    Web page


    The teaching staff of the Lund University is formed by instructors from the Department of Economic History and two centres of research excellence, that have been awarded Linné Grants by the Swedish Council for Research: the Centre of Economic Demography; and the Centre for Innovation, Research and Competence in the Learning Economy (CIRCLE).

    Web page



    Places available: 40

    Admission requirements are common for all students. The basic requirement for admission is to have obtained (or to be in the situation of obtaining before the start of the Master program) a recognized Bachelor's Degree (BS, BSc, SB, etc.) or a degree at the level of a Bachelor's Degree, e.g. its equivalent from a college, university, or technical school of high standing, or 180 ECTS credits in the European system, in Economics. A good background of Mathematics, Statistics and Econometrics is required. In particular cases, the Selection Committee can admit students with a Bachelor Degree in other disciplines which include a comprehensive and advanced training in economics, mathematics and quantitative methods.

    Applicants who expect to obtain their BA or equivalent degree at the end of the academic year 2013-14 and before the start of the MEDEG courses (September 2014), should enclose an official certificate issued by their University where the expected date of graduation is explicitly stated. In case of successful application, they will be pre-admitted and will be required to send an official certificate of graduation NO LATER THAN July 30, 2013.

    As far as language requirements are concerned, applicants whose native language is not English but hold a first degree from Universities based in an English-speaking country do not need to provide any certificate of language proficiency. The same applies to applicants who obtained their degree from Universities in non-English speaking countries but in which courses are taught in English; in this case they must enclose an official document issued by their University that certifies that English is the medium of instruction.

    ALL other applicants are required to certify a satisfactory command of both spoken and written English at Level B2 or higher of the CEFR-Common European Framework of Reference for Language.
    The following Certificates and minimum scores are admitted:

    •     TOEFL:

                      Paper Based Test: 550 or higher

                      Computer Based Test: 213 or higher

                      Internet Based Test: 86 or higher.

    •     Cambridge ESOL IELTS: 5.0 points or higher
    •     Cambridge ESOL General: FCE (First Certificate in English) equivalent to level B2; CAE (Certificate in Advanced English) equivalent to level C1; CPE (Certificate of Proficiency in English) equivalent to level C2
    •     Cambridge ESOL BULATS (Business Language Testing Service): 60 or higher
    •     Cambridge ESOL BEC (Business English Certificate): Vantage or higher;
    •     ALTE: Level 3 or higher
    •     NQF: Level 1 or higher (Entry levels are not admitted)
    •     London Test of English: Level 3 or higher
    •     Trinity College London ESOL GESE: Grade 7 or higher
    •     Trinity College London ESOL ISE: Level II or higher
    •     UBELT Exam: 2.5 or higher

    Students unable to provide a language certificate by the relevant application deadline but who have taken or plan to take a language test (TOEFL, Cambridge ESOL or equivalent, DELE etc.) should specify in the Application Form the precise date of their test/exam and include in the application a scanned copy of the official registration to the test/exam. The results of the test/exam, in the form of an official Certificate (even temporary) issued by the examining institution, must be timely communicated by email to the MEDEG administrative office, and in any case BEFORE March 31st, 2015.

    If an applicant has insufficient language skills but high academic and professional potential, he/she may be pre-admitted conditioned to the successful completion of an upgrading language course at a Language Centre of the first-year universities before the start of the Master course.

    Application and selection procedure

    Apply Now


    There are financing and scholarship programmes available for studies in the Master’ Degree programmes offered by Carlos III University of Madrid, the Ministry of Education, Culture and Sport, and the Community of Madrid, among others.

    Financial aid/scholarships for graduate programs

    The Master, with no obligation for the university, attempt to get funds from certain sponsors that could lead to a reduction up to 25% of tuition for a reduced number of students.

    The grants are conditioned to the availability of funds and only will be given between the already enrolled students.

    Those students whose tuition is financed by a third party (company, institution,...) or other grants, shall be excluded from this call.

    Job Market

    University's Foundation (Fundación Universidad Carlos III) holds a careers service ( Professional Planning and Orientation Service (SOPP) ) which orientates, informs and helps graduates to get through the labour market.


    High employability of MEDEG students at national and international level is consistent with the objectives of the European Higher Education Area. Students educated and trained at MEDEG will find plenty of career opportunities both at national and international institutions working on economic development, such as the European Union, OECD, ILO, World Bank, UNESCO, WTO, CEPAL, IADB (Inter-American Development Bank), NGOs, governments and central banks, think-thanks, multinational companies, consulting firms. For students willing to develop an academic career, the MEDEG offers the advanced skills required to carry out research at scholarly level in the fields of development economics, economic history, applied economics and international economics. The participating institutions offer to talented students oriented towards an academic career the possibility to continue their postgraduate education in one of their Doctoral Programmes.