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Master in Economic Development and Growth (MEDEG)

Graduate School of Economics and Political Science

Graduate Economics and Political Science School
Prof. Jordi Domenech Feliu


Social Sciences, Economics


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    The Master in Economic Development and Growth will provide you with the required theoretical and quantitative tools to understand the problem of economic development.

    The programme offers advanced training in economics and econometrics, while it also provides a wide comparative perspective on economic development. In addition, the student can zoom in more specific problems of developing economies like poverty and inequality, the impact of globalization, agriculture and rural institutions, or financial development.

    This master will prepare you for careers in international organizations, the international non-profit sector or think-tanks, public institutions and multinationals with interests in emerging and developing economies, as well as giving you the necessary preparation to start doctoral studies in the field of development or related studies.


    IMPORTANT: In addition, students who have completed the required 60 ECTs can decide to spend a second year at the University of Lund (Sweden) joining our 2-year programme with the University of Groningen (the Netherlands) and the University of Lund (Sweden).

    ◢ Alumni testimonials


    ☛ MEDEG was an Erasmus Mundus Master programme and offered EU funded scholarships for seven consecutive academic years from 2010 until 2016.

    Conjunto de edificios y casas chabolistas evidencian la falta de desarrollo sostenible

    reasons to study Master in Economic Development and Growth (MEDEG)


    • ☛ A maximum of  40 students per class
    • ☛ More than 80% are international students
    • ☛ 1/3 are NOT europeans students
    • ☛ More than 150 alumni professionals and academics in the field of development and related studies
    • 70% of teaching faculty obtained their PhD degrees in top US and European institutions
    logotipos de las universidades colaboradoras del MEDEG

    The University Master's degree in Economic Development and Growth at Universidad Carlos III de Madrid consists of 60 ECTS credits distributed over a two term course, the first of which focuses on the acquisition of basic theoretical knowledge, whereas the second is more concerned with training in research skills. The syllabus is structured in 14 subjects divided into four different modules defined on the basis of disciplinary and thematic sectors, except for the Final Dissertation which has been accorded the status of specific subject. The master's degree has been structured in the four following modules:

    •  Module I: Economic theory
    •  Module II: Economic growth
    •  Module III: Economy and development institutions
    •  Module IV: Quantitative methods

    Module I (economic theory) teaches the basic subjects of microeconomics, macroeconomics and international economics. Module II (Economic growth) focuses on the study of the main theories of growth, research techniques, and the analysis of the process of growth and convergence in the long term.  Module III (Economic development and institutions) teach the subjects dedicated to study of the main development theories; learning research methods and techniques of empirical analysis for the main problems of economic development, poverty and inequality; and studying the impact of institutional factors on long term economic development, paying particular attention to the reality of Latin America.  Module IV (quantitative methods) provides a basic theoretical and empirical   tools that will enable students to manage databases and apply the main analytical techniques of empirical analysis (statistical methods, linear regressions, temporary series, panel data) to their research. The final dissertation in the master's degree will consist of a piece of original research with a maximum of 10,000 words.

    Course 1 - Semester 1

     Module I: Economic theory
    International Economics3CEnglish
     Module II: Economic growth
    Economic growth: Theory and Empirical Methods6CEnglish
    Module III: Economy and development institutions
    Development Economics6CEnglish
    Choose three electives
    Well-being Measurement, Inequality and Poverty3EEnglish
    Choose one subject between the following electives offered in the first and second semester
    Advanced Research Methods3EEnglish
    Module IV: Quantitative methods
    Introduction to Econometrics3CEnglish
    Econometrics I: Time Series3CEnglish

    Course 1 - Semester 2

     Module I: Economic theory
     Module II: Economic growth
    Economic growth, Convergence and Globalization in the Long Run3CEnglish
    Module III: Economy and development institutions
    The Economic Development of Latin America in the Long Run3CEnglish
    Choose three electives
    Labour Markets in Developing Countries3EEnglish
    Agricultural Development and Rural Institutions3EEnglish
    Financial Systems in Developing Countries3EEnglish
    Institutions, Development and Growth3ESpanish
    Module IV: Quantitative methods
    Econometrics II: Micro-econometrics3CEnglish
    Master Thesis12C

    C= Compulsory : 36 ECTS

    E= Elective Course: 12 ECTS

    Master's Thesis: 12 ECTS


    The Master's program is taught by a highly qualified team of lecturers and professors including academics from the departments of Economics and Economic History, and experts in the field of development, with extensive experience in national and international bodies.

    The courses combine theoretical and quantitative analysis of development problems, with discussion of practical management tools and evaluation of policies and projects.



      Social Sciences
      Associate Professor
      PhD - Universidad de Valladolid
      Assistant Professor
      PhD - MIT
      Social Sciences
      Associate Professor
      PhD - University Turin
      Visiting Professor
      PhD - University of Maryland
      Social Sciences
      Associate Professor
      PhD - Universidad Complutense de Madrid
      Associate Professor
      PhD - CEMFI and Universidad de Alcalá
      Associate Professor
      PhD - University of Minnessota
      Social Sciences
      Visiting Professor
      PhD - London School of Economics
      Full Professor
      PhD - University of California-San Diego
      Social Sciences
      Associate Professor
      PhD - Universidad Carlos III de Madrid
      Instituto Carlos III-Juan March de Ciencias Sociales
      Senior Visiting Professor
      PhD - Stanford
      Associate Professor
      PhD - London School of Economics
      Visiting profesor
      PhD - Universitat Pompeu Fabra, Barcelona
      Social Sciences
      Full Professor
      PhD - Oxford
      Associate Professor
      PhD - Universitat Autònoma de Barcelona
    • ROSES, JOAN R.
      Professor of Economic History
      London School of Economics
      Social Sciences
      Associate Professor
      PhD - London School of Economics
      Assistant Professor
      PhD - Duke University
      Social Sciences
      Full Professor
      PhD - London School of Economics
      Social Sciences
      Associate Professor
      PhD - Universidad de Alcalá
      Full Professor
      PhD - London School of Economics

    Maximum intake: 40

    • 2 YEARS MEDEG (second year courses at the University of Lund)

    IMPORTANT NOTE: Joint programme with the Universities of Groningen and Lund is already full. 

    We only consider applications for the one-year program at Universidad Carlos III exclusively. Application process will be open until late June, although we will fill the existing vacancies as we receive them. Students can be accepted into the two year program is there is a vacancy created by a joint-programme student dropping out during or at the end of the first year.



    The basic requirement for admission to the Master's course is to have obtained or to be about to obtain prior to start of the Master's courses, either an official degree - or  in the case of foreign qualifications, an equivalent  (Degree, Bachelor's degree) - either in Economics or a related discipline.


    Proof of full command of written and spoken English is required -- Cambridge Proficiency Certificate (A-C level), First Certificate of English from Cambridge ESOL Examinations (A level), TOEFL (minimum 80 points), International English Language Testing System del British Council (6,5 level).

    This requirement will be waved for students whose native language is English or who obtained a degree from a university in which English is the working language.


    Admission Criteria

    In the selection process, the Committee will be based on the following criteria:

    Academic record 60%
    Letters of reference 10%
    Motivation letter 10%
    Other qualifications and courses 10%
    Other professional and research experiences 10%

    For each criterion a grade of 0 to 5 will be allocated (0-insufficient, 1-bad, 2-sufficient, 3- good, 4-excellent, 5-extraordinary). All the applicants will be grouped into three lists:

    • Admitted
    • On waiting list
    • Rejected

    Foreign students

    Once admitted to the Master, foreign students with university degree issued by a higher education institution belonging to an educational system outside the EEES, must present, for enrollment, the diploma attesting equivalent training that allows access to postgraduate studies, legalized by diplomatic procedures, or “The Hague Convention Apostille”. More information about Legalization of Documents.

    If needed, documents must be accompanied by an official sworn translation into Spanish.



    The request is made electronically through our application. Before starting the admission process it is important to consult the supporting information that we offer below:

    Application and selection process

    In order to be considered, application forms must be accompanied by the following documents:

    Reference letters (OPTIONAL, NOT REQUIRED). Applicants can OPTIONALLY send one or two reference letters

    Referees should send their reference letters to the address supplied below indicating the name of the applicant and the programme (MEDEG) in the email heading. Letters can be written using the format supplied below or any other format.

    ou should ask the referees to send their reference letters to


    There are various grants available to students wishing to study on the MADE course:

    Grants funded by the International Ford Foundation Program (IFP Program)

    MAEC-AECID grants (Ministry of Foreign Affairs – Spanish Agency for International Cooperation for Development). Find out through search engine Colón-Estudios de Postgrado en España.

    Banco Santander  Grants

    Finally, students admitted to the MADE may obtain "soft" credits in order to finance their studies through agreements entered into by the University:

    Banco Santander Central Hispano offers special financing conditions for students who wish pursue their postgraduate studies at the Universidad Carlos III de Madrid. In order to view their profile, select the option I am a university graduate and I would like a postgraduate, doctorate or research super credit.


    UC3M Scholarships for the Year 2017/2018 *

    For the academic year 2017-18 has been published a call for a maximum of 10 grants for payment of the net enrollment rates for students accepted into the Master, with the following provision:

    • 10 grants of € 4,500, € 3,000 or € 1,500

    Application deadline: 31st May 2017.

    Resolution: June 2017.

    The number of grants and amounts specified in the Annex to the notice, 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.

    » Financial aid/scholarships for tuition offered by School of Graduate Studies

    » Electronic Bulletin of the UC3M (BOEL)


    Call Carolina Scholarship Foundation Course 2017/2018

    The grant program of the Fundación Carolina offers 2 financial aids for study.

    Application Deadline: 6th April 2017.

    Fundación Carolina

    General Information about grants and scholarships

    You can find more information about scholarships of UC3M and other agencies or entities.

    Financial aid/scholarships for graduate programs

    Career Services

    University's Foundation (Fundación Universidad Carlos III) holds a careers service ( UC3M Guidance&Employment) which orientates, informs and helps graduates to get through the labour market.


      Academic calendar

      Academic Calendar 2016/17

      Academic Calendar 2017/18


      Program course schedule

      Direct access to timetable

      Course 2017/18: classes are given in the mornings.


      Exam dates

      Direct access to exams schedule


      Program price

      course 2017/18*

      • Place Reservation: 800€ (It will be paid once the student receives notification of admission to the master, and deducted from the first tuition payment)

      60 ECTS in the first academic year:

      • EU students:7.800€ (130€/ECTS)
      • Non EU students: 11.700€ (195€/ECTS)


         *Pending approval by the Community of Madrid for the course 17/18


      ◢  More information about masters prices

      Additional information

      • You can register on the Master’s degree program when you have finished the application admission process and you have received your acceptance.
      • When performing the enrollment you can choose between Full-time enrollment or Part-time enrollment.
      • The email address which the University provides to the student upon enrollment will be used principally for communications with said student. For this reason, it is essential that it be actualized and periodically consulted.
      • Failure to make payment shall result in non-admission or termination of enrollment according to that established by the University. In case of annulment of registration because of failure to make payment, Universities can demand payment for previous enrollment in earlier academic years as a previous condition for enrollment.
        Universities shall not issue a diploma or certificate when a student has payments of any kind pending.

      General information for enrollment in official Master’s degrees

      Information about credits recognition


      Quality Assurance

      The Academic Committee of the Master complies with the SGIC of Universidad Carlos III de Madrid and it is responsible for the quality analysis of the program, it contributes with proposals to improve the program and produces the “Memoria Académica de Titulación”.

      Graduate Profile and Competences

      System of complaints and / or suggestions

      Claims, complaints and suggestions received and channeled through the Academic Committee of Quality, so that it is directly informed of all matters related to the quality of qualifications. The seat of that committee are reviewed and processed in accordance with established work schedules and noting in the reports of these committees.

      Furthermore, claims, complaints and suggestions can be made outside the scope of the degree by presenting on paper, through the Registry, and also through the electronic mailboxes (OPINA System) found on the website of the degrees. All questions received, transfer is given to units or services concerned in order to reverse this information to improve the quality offered by the University.

      Also through the University Ombudsman that ensures the protection of the rights, freedoms and interests of all members of the university community, against any violation of the current legislation by the services and bodies of the University.

      Material Resources of the program

      Information about material resources of Getafe Campus


      There are several job opportunities for Graduates of the Master in Economic Growth and Development:

      a) In a private business Specifically:
      • Private businesses and financial institutions operating in developing countries and emerging markets, especially although not exclusively in research departments or areas;
      • In private research centres concerned with economic development and growth
      • In economic research departments of nongovernmental organisations operating in the sphere of economic development

      b) In Public Administration, specifically:
      • In economy ministries, central banks and government agencies in developing countries
      • In government agencies of developed countries operating in the sphere of development cooperation

      c) International bodies, specifically :
      • multilateral agencies and organisations concerned with research into problems of economic development and financing, coordination and implementation of economic development projects (International Labour Organisation, United Nations Development Program, World Bank, International Monetary Fund,  Inter American Development Bank,  CEPAL- Economic Commission for Latin America and the Caribbean,  UNESCO, OECD)

      d) At Universities and public and private research centres.

      estudiantes sentados en el jardin dialogando

      By joining the Master in Economic Development and Growth you join a large network of practitioners and academics in the field of development and related studies. Alumni of the Master in Economic Development and Growth have taken jobs in research and consultancy firms, international organizations, government agencies and think tanks. There have been student placements in organizations like the World Bank, United Nation’s World Food Programme, the FAO, the International Labour Office, the UNDP International Policy Centre for Inclusive Growth, the European Bank for Reconstruction and Development, the European Investment Bank, or the Latin American Development Bank. For example, very recently, one of our students has joined the Bangkok office of the United Nations’ Disaster Risk Reduction Division, another student the Decent Rural Employment Team at FAO.

      Other students have gained very valuable direct field experience in developing countries by working in the implementation of large surveys or collaborating in research projects in countries like the Philippines, Malaysia, Bolivia, Colombia, Mexico, Brazil, Dominican Republic, Malawi, Rwanda, Ethiopia or Morocco.

      A smaller group of students have continued their studies pursuing PhDs at a wide array of universities in Europe and North America, with the more recent cases being the London School of Economics, the School of Oriental and African Studies (SOAS) at the University of London or the  School of Global Studies at the University of Sussex (UK). 

      The Master guarantees an intense interaction between new students and the network of past graduates via our community manager Alexandra López-Cermeño (, who circulates job openings, information on PhD programmes and funding, student placements, and alumni testimonials:


      ☛ Video of master students internship in Mexico


    Joint programme Carlos III-Groningen-Lund

    Facahada edificio Biblioteca de la Universidad de Lund

    This international double degree trains you to be a well-rounded expert in the field of development. You get Master's degrees from two out of three top-class European research universities: Universidad Carlos III or University of Groningen and the University of Lund.​

    The programme provides you the theoretical and quantitative tools needed to grasp the main debates in economics and other social sciences, as well as the deep, specialized understanding of context, institutions, and historical legacies in developing economies required to deal with the full complexity of development issues.
The MEDEG programme is offered by a consortium of the University of Groningen (The Netherlands), Universidad Carlos III de Madrid (Spain) and Lund University (Sweden). Candidates study the first year either in Groningen or Madrid. In the second year all students move to Sweden to specialize in development and growth issues at Lund University School of Economics and Management.

    The Carlos III-Groningen–Lund programme provides rigorous training in economics and quantitative methods and offers a variety of electives in central topics in development. At the end of each programme year you complete an independent research project, closely supervised by faculty.
On successful completion, you will obtain either a Master in Economic Development and Growth from Universidad Carlos III de Madrid or an MSc in International Economics and Business from the University of Groningen, and a Master Degree in Social Science with major in Economic Development and Growth from University of Lund.

    In the first year of the MEDEG programme in the Carlos III-Lund mobility you will study a 60 ECTs Master's degree programme in Economic Development. You will acquire advanced knowledge in economic theory, econometrics, and research methods in the first semester. In the second semester, you will study topics related to long run economic growth, comparative development performance or poverty and inequality. Closely supervised by faculty, you are also expected to complete an original piece of research on a topic of your choosing related to economic development to be defended in July.

    In the second year at the University of Lund, you can further specialize in economic development  in relation to issues such as demographic change, institutions, sustainability and energy, innovation and human capital. You take 15 ECTs of compulsory courses and 30 ECTs of electives and can choose elective courses of the MA programme in International Economics. You will also complete a Master's thesis worth 15 ECTs.


    ☛ Programme web page at the University of Groningen

    ☛ Progamme web page at the School of Economics and Management, University of Lund