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Master in Economics

Graduate School of Economics and Political Science

Imagen presentación del máster
Prof. Matthias Kredler


☛ Places available: 35

Economics Department


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    The Master in Economics provides students with a working knowledge of the main tools of quantitative economics. It is directed to graduates in economics, mathematics, and engineering, as well as to graduates in social sciences with a taste for rigorous analysis.

    The program prepares students to pursue a professional specialization in one of the different fields of economics, leading to a career in government agencies, international organizations, or the private sector. It serves as well as a first step to students who plan to pursue a research career by enrolling into a Ph.D. program in economics. 

    In past years, our students have been placed in top Ph.D. programs in Economics (University of Minnesota, University College London, European University Institute, among others), in leading financial institutions and consulting firms (e.g. BBVA Research, KPMG, Ernst & Young, Afi), and in government agencies and ministries (e.g. European Central Bank, Bank of Spain, regulators and treasuries).

    The Master is a full time one year program (60 ECTS), during which students take 6 mandatory courses in the Microeconomics, Macroeconomics, and Econometrics, and complete their studies with three optional specialized courses on the topics of their professional interest. In addition, students must complete a Master’s thesis.

     More information 


    📥 │ Placement list of recent cohorts

    reasons to study master in economics


    • #52 of the world and #11 of Europe in the Ranking of the European Economic Association
    • #55 of the world and #16 of Europe in the Ranking of Tilburg University on Economics (2011-2015)
    • 70% of the professors have taken doctorates in prestigious universities in Europe and the United States

    Faculty from the Economics Department at Carlos III University is in charge of the Master courses. All faculty members have Doctorate Degrees (Ph.D) from prestigious, internationally known universities. This Department are committed to academic excellence.

    According with the latest well-known ranking by Tilburg University on Economics Research (2011-2015) the Department of Economics at UC3M is placed 38th in the world, 15th in Europe, and 2nd in Spain. In addition, in a recent comparison, sponsored by the European Economic Association and published in the Journal of the European Economic Association (JEEA, vol. 1(6) (2003) pp. 1346-1366), the Department of Economics was ranked number 52 in the world, 9th in the European Union, and 2nd in Spain; and in EconPhd Ranking, 10 worldwide in Econometrics, 33 in Public Economics, 40 in Microeconomics, 50 in Labour & Consumer Economics, 90 in Macroeconomics. The great investment in human capital which has provided us with such a qualified teaching staff, committed to high quality teaching and research, guarantees the continuity and excellence of the Master in Economics.

    Faculty Available 

    The following table provides a list of permanent researchers from the Department of Economics. 75% of researchers in the Department of Economics are doctors from the best American and European universities (LSE, Minnesota, Princeton, Rochester, Stanford, etc.), and 33% are foreigners (France, Italy, Germany, Mexico, Argentina , Japan, India, Russia, etc.).


      Department of Economics
      Associate Professor
      PhD in Economic Sciences, CEMFI and Universidad Complutense de Madrid
      Brief CV
      Department of Economics
      Associate Professor
      PhD in Economics, CEMFI and Universidad de Alcalá
      Brief CV
      Department of Economics
      Associate Professor
      PhD in Economics, CEMFI and Universidad Complutense de Madrid
      Brief CV
      Department of Economics
      Associate Professor
      PhD in Economic Sciences, University of California
      Brief CV
      Department of Economics
      Honorary Emeritus Professor
      Full Professor
      PhD in Economic Sciences, London School of Economics
      Brief CV
      Department of Economics
      Associate Professor
      PhD in Economics, University of Minnesota
      Brief CV
      Department of Economics
      Full Professor
      PhD in Economics, Universitat Autónoma de Barcelona
      Brief CV
      Department of Economics
      Full Professor
      PhD in Economic Sciences, University of California
      Brief CV
      Department of Economics
      Associate Professor
      PhD in Economics, Toulouse School of Economics
      Brief CV
      Department of Economics
      Associate Professor
      PhD in Economic Sciences, London School of Economics
      Brief CV
      Department of Economics
      Full Professor
      Ph.D. in Economics, State University of New York at Stony Brook
      Brief CV
      Department of Economics
      Assistant Professor
      PhD in Economic Sciences, Universidad Autónoma de Barcelona
      Brief CV
      Department of Business Administration
      Associate Professor
      PhD in Finance, Universidad del País Vasco
      Brief CV
      Department of Economics
      Associate Professor
      PhD in Economics, ACARES, Free University of Brussels
      Brief CV


      Full Professor
      PhD, University of Leeds


      The request is made electronically through our application. Before starting the admission process, please, read the following information:


      Applicants must possess the equivalent of a bachelor’s degree (three or more years of studies at an official university). Students in the last year of their studies may apply and receive admission conditional on successful completion of their Bachelor’s program.


      Admission criteria

      Admission will be decided by the Master’s Academic Committee. Candidate selection will be based on the following criteria:

      Academic Excellence (*) 70 points
      Reference Letters (**) 20 points
      Curriculum Vitae and Motivation Letter (***) 10 points

      (*) Grades, quality of the university of origin, and student’s preparation for the quantitative aspects of the program.

      (**) Reference letters (preferably academic and in English) 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. The letter writer should specify the name of the candidate and the master's program in the message.

      (***) Provide the CV and Motivation Letter preferably in English.

      Student Profile

      The Master's Degree is aimed at graduate students in the areas of Economics, Science and Engineering, although applications for graduates in Social or Legal Sciences will be attended provided that their training is in accordance with the requirements of the Master's subjects

      Language requirements

      Check the general language requirements required to study a Master’s at UC3M, depending on whether it is in Spanish, English or bilingual.

      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: €800

      • 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: €7,800 (€130/ECTS credit)
      • Non EU students: €11,700 (€195/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.
      • 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.

      ✎│Enrolment master’s programmes

      ✎│ECTS credits recognition



    CALL AM01-24/25 * │ CLOSED

    For the academic year 2024-2025 a call has been published for a maximum of 14 scholarships for payment of the net enrolment fees for students accepted into the Master’s, with the following provision:

    • 8 scholarships of €3,000
    • 6 scholarships of €4,500

    To apply, you must have completed the application for admission to the Master’s.

    Application deadline: May 31, 2024

    Partial resolutions:

    • first partial resolution: published on 8/3/2024
    • second partial resolution: published on 23/5/2024
    • third partial resolution: from June 20, 2024

    * The number of grants and amounts specified in the call, may vary depending on the conditions of the candidates who apply to them, can be even deserted as assessed by the Selection Committee for each program.


    📚 │ Scholarships

    💻 │ UC3M e-bulletin (BOEL) in Spanish

    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


    International Complement

    Qualified students could apply for financial support by the Erasmus Program.


    At the end of the regular master program, students may opt to spend a placement period of 3-6 months in another European school studying complementary disciplines, such as Marketing, Finance, Management, Information Systems or Accountancy, or just deepen into Economics.

    Having the opportunity to go to another European university within an international program allows the students to complement their training, in addition to having the experience of living in a different country, as well as in a different university environment.

    Students receive formal recognition for their academic study period abroad in the transcript of records and in the degree certificate.

    Currently, the University has exchange agreements at Master level in the area of Economics and Business Administration with the following universities:

    Internacionalización - Universidades Colaboradoras

    [+] information