Erasmus Mundus Master in Models and Methods of Quantitative Economics QEM
Master Erasmus Mundus Models and Methods of Quantitative Economics (QEM) is the European Union approved international graduate degree programme taught full-time over two years in France, Germany, Italy and Spain. Taught in English, the programme is designed by a Consortium of four European Universities:
- Universitat Autònoma de Barcelona, Barcelona, Spain
- Universität Bielefeld, Bielefeld, Germany
- Université Paris 1 Panthéon-Sorbonne, Paris, France
- Università Ca' Foscari Venezia, Venice, Italy
with a network of Associated Partners consisting of international academic institutions as well as public and private companies.
The course offers a rigorous education in fundamental quantitative tools by combining core economic theory with related quantitative disciplines such as Probability, Statistics, Econometrics, Finance, Actuarial Science, Mathematical Modelling, Computation and Simulation, Experimental Design, and Political Science. The breadth of courses offers students the opportunity to specialise in one of these many areas in accordance with their interests along a number of course tracks. These were areas which are increasingly vital in both research orientation for further studies and in the job market for positions in government organisations, private companies or financial institutions.
The course is intended to prepare students for a wide range of careers which utilise their competency in economics, including economic theory, macroeconomics and financial forecasting, financial engineering and risk management, quantitative asset management, computational economics, quantitative trading, and applied and theoretical research. See full programme détails of Quantitative Economics Master (QEM).
Each year, approximately 50 students are welcomed to the programme on the basis of academic excellence. Applicants should hold a recognised bachelor's degree (or its equivalent, i.e. 180 ECTS credits in the Bologna system) and be fluent in both written and spoken English. Ideally, applicants will have previously studied mathematics, applied mathematics, quantitative economics or finance but candidates with other backgrounds are welcomed provided that they can demonstrate sufficient interest in economics. Mathematical aptitude as evidenced by previous studies or work experience is taken into consideration in the admissions process. Applicants without the required mathematical background are advised to undertake special training or programmes prior to their enrolment in the QEM programme. Such training is proposed by the Graduate School of Mathematics of Université Paris 1 Panthéon-Sorbonne with the collaboration of Universitat Autònoma de Barcelona, IMW - Institute of Mathematical Economics of Universität Bielefeld and Università Ca' Foscari Venezia.
It is a programme requirement for students to study at two of the four participating universities from the Consortium. This mobility enables students to benefit from the strengths of each university on a wide range of issues and to meet and work with professionals from various backgrounds. Upon successfully completing the programme, students are awarded a QEM Joint Degree from the partners of the consortium. The consortium provides extensive career assistance to the students, including help with internships and job placement for graduates. We have had an excellent job placement record, since 2008.
The first year of the programme is focused on core courses in Microeconomics, Macroeconomics, Econometrics and Mathematics (Probability, Statistics and Optimization). The first semester is spent in Paris. To facilitate mobility, the universities of Barcelona, Bielefeld, Paris and Venice offer almost identical courses during the second semester of the first year.
The second year of the programme is spent in one of the four universities of the consortium depending on the area of specialisation chosen by the student.
The university choice is fixed for each student during the admissions process.
Language of Instruction
In each university, the language of instruction for the programme is English. An English language proficiency test (such as IELTS or TOEFL) is required in order to be admitted to the programme. The standards of and exceptions to this requirement are detailed in the Entrance Requirements. Additionally, students shall also undertake courses in the local language and culture of each European country in which they study.
ECTS Credits Requirement
60 ECTS credits are required in each academic year. 56 of these ECTS credits shall be acquired from scientific courses and the remaining 4 ECTS credits shall be acquired from the foreign language courses. A total of 120 ECTS credits are required to complete the programme.
For a list of courses on offer, as well as a brief course description, please refer to the First and Second Years.
Upon successfully completing the programme, students shall be awarded a unique Joint Degree entitled "Models and Methods of Quantitative Economics", which is identical for all students and contains the logos of all partner universities, whatever the mobility track of the student is. The joint degree will be issued by the Université Paris 1, with a unique secured registration number, under the responsibility of the Recteur Chancelier des Universités Parisiennes (Rector of all Parisian Universities). The joint degree is officially recognised as a master degree in each university and each country with the same rights and duties with the national degree entitled:
- Master Universitari en Models I Mètodes d'Economia Quantitative (Universitat Autònoma de Barcelona), Spain.
- Master of Science Wirtschaftsmathematik (Universität Bielefeld), Germany.
- Master Economie Théorique et Empirique (Université Paris 1 Panthéon-Sorbonne), France.
- Master Banque, Finance, Assurance (Université Paris 1 Panthéon-Sorbonne), France
- Master Mathématiques Appliquées en Economie et en Finance (Université Paris 1 Panthéon-Sorbonne), France.
- Laurea Magistralis in Economia (Università Cà Foscari di Venezia), Italy.
Application for Quantitative Economics Master (QEM)
We invite applicants from all over the world. In order to create a multicultural learning environment, the consortium strives to achieve a balance between various geographic and disciplinary backgrounds. Admission is based on academic excellence, motivation and prior experience. Applicants should hold a recognised bachelor's degree in a subject related to mathematics, applied mathematics, quantitative economics or finance and demonstrate proficiency in English.
Admission to the Master Models and Methods Quantitative Economics (QEM) programme is highly competitive. At the programme's inception in 2006, we received more than 100 applications. Ever since applications have grown: over 130 candidates applied in 2007, over 200 in 2008, over 500 in 2009, over 700 in 2010 and over 800 these last years. A successful applicant is typically graduated from a good university with excellent grades and has the motivation to study quantitative economics or finance.
All QEM applications should be made in good time and with respect to the programme admission requirements and application procedure. More information can be found on the online application page.
Program taught in: