The Master Program (Laurea Magistralis) in Economics, Finance and International Integration (MEFI) is a post-graduate course open to Italian and foreign students aiming to pursue advanced studies in the field of applied economics and finance in an international perspective. MEFI trains students longing to start high-level careers as professionals or managers in national and multinational firms and within the Public Administration. Starting from the academic year 2013-2014 this Master Program has been entirely taught in English, fulfilling the internalization aims of our Department. The Department is already involved in many international mobility programs for graduate students. Moreover, a few double degree programs in Economics have been already agreed and are being carried out with some major European Universities. The decision to teach all MEFI courses in English is then just a further path in our internalization strategy.
Though students attending MEFI will get the same degree, they may choose from the start between three different specializations: Finance; Industrial Organization and Market Regulation; International Economic Integration. Such a variety of academic options is consistent with the existence in our Department of different groups of researchers sharing common scientific interests, publishing extensively on these topics and occasionally working as consultants for private and public institutions.
The Finance curriculum has been developed by a group of mathematicians, statisticians, and econometricians who have long since concentrated their research work on financial markets. They also cooperate with colleagues involved in macroeconomics and corporate finance.
The Industrial Organization and Market Regulation curriculum is based as well on a group of professors and researchers long since involved in research work about theoretical and empirical industrial organization, regulatory economics and competition policy.
The third curriculum concerning International Economic Integration is also available, as the University of Pavia is a leading academic institution for post-graduate education in the field of international cooperation and economic development.
MEFI is expected to be completed in two years and is divided into 4 semesters. Teaching time is mostly devoted to advanced courses of economics with an applied perspective. In the case of the Industrial Organization option, the focus is on the applications of game theory and econometrics to regulated and unregulated markets, and on the microeconomics of the firm. The Finance option includes courses in mathematics, statistics, and econometrics with a common focus on financial markets issues. The International Integration option requires less training in mathematics and statistics, as more weight is given to political economy and international policy issues. Students interested in sustainable development, independently of their specialization, may always pick up environmental economics and energy economics as elective courses.
Complementary courses in Law have also been introduced. They are differentiated according to each specialization and include financial markets regulation, European Community Law, and Antitrust law. Management courses mainly concern multinational firms and the organization of information systems. Following the Italian multicultural tradition, students may be also required to attend one course in Economic History and/or one in Sociology. Most courses require students to undertake individual short projects or produce short essays to be discussed during the class and that may contribute to their assessment together with traditional exams.
Lastly, students will have to write and defend a Master program dissertation that will contribute to their final grade.
Students should hold a 3-year university diploma (Bachelor of Science degree)
Background of studies and number of ECTs (hours of study)
Students should provide evidence that in their 3-year diploma they have acquired the following number of ECTS (in case of students outside the European Union, the equivalent number of hours of study) in these areas:
Economics (i.e. Macro and Micro Economics; Political Economy; Econometrics; Economic History) - 24 ECTS
Quantitative Methods– (exams in Mathematics and Statistics) - 15 ECTS
Business Administration (i.e. Accounting; Management; Finance - 6 ECTS
Law (i.e. Business Law, Constitutional Law) - 6 ECTS
English language - 6 ECTS (see note below)
Computer science - 3 ECTS
A margin of flexibility is admitted, with respect to the fulfillment of the above minimum curricular requirements, up to a maximum of 10%, or 6 ECTS. This margin may be applied indifferently to only one of the groups of the scientific areas listed above or to more groups, except for the point referring to the English language requirement, which must be always fulfilled.
Note that all students satisfying the above minimal entry requirements (study background and the specific number of study hours) but with a final Bachelor mark lower than 95/110 (after conversion into the Italian grading system) must pass an admission test. With a mark higher than the above threshold admission is direct (no entry test).
MEFI students will improve their technical and scientific skills, and develop the ability to operate at an international level. Here are the main career opportunities offered by MEFI:
experts in financial markets, able not only to actually trade in sophisticated financial assets but also to manage portfolios and financial strategies of banks, insurance companies and financial institutions, at both the national and international level;
experts in strategic planning and regulation of markets, able to work in public regulation agencies, and in regulated firms, or firms belonging to production chains affected by competition and regulation;
experts in international and development economics, able to work in international institutions, in public administrations, and in non-profit organisations committed to international cooperation