Master in Economics and Finance (MEF) is a two-year English-language Master's degree program, which aims to give the student a thorough grounding in both theoretical and applied economics. Emphasis is put on developing abstract analytical reasoning, which lets the students solve complex economic problems in various settings. Applicants must have a solid background in Mathematics and good command of English. Courses are taught both by faculty members of the Institute of Economic Studies (IES) and external professionals from international institutions, central banks, and the financial industry. Graduates typically assume challenging positions in banking, consulting, investment funds, international financial institutions or they pursue an academic career at respected international universities.

Compulsory core courses introduce students to advanced topics in macroeconomics, microeconomics, financial markets, banking, and econometrics. Elective courses cover a wide range of areas in economics and finance, which lets students specialize in the field of their interest. The elective topics include advanced economic theory (e.g. business cycles theory, DSGE modelling, and game theory), applied economics and economic policy (e.g. monetary economics, international macroeconomics, antitrust economics, health economics, environmental economics, development economics, energy economics, and economics of the EU), theoretical finance (e.g. quantitative finance), and applied finance and investment (corporate finance, portfolio analysis and risk management, company valuation, real estate investment, bank asset and liability management, financial regulation, and international investment protection).

More information about the program is available at Questions can be emailed to or asked at online webinars that take place before the application deadlines and that announced on the program website.

The open day will take place at the Institute of Economic Studies (IES, Opletalova 26, Prague 1), more details on

Description of verification and evaluation criteria

Application Requirements

We require applicants to provide:

  • Completed application form,
  • Scores from ability and language tests in the Supplementary Online Form (SOF)
  • Copies of diplomas and transcripts of records,
  • Curriculum vitae (resume),
  • Letter of motivation,
  • Letter(s) of recommendation (references),
  • Certificates of language and ability tests.

English Language Competence

Applicants are required to have a good command of English and good analytical quantitative skills with sufficient background in mathematics and/or statistics. An applicant’s competence in English should correspond to at least the B2 level under the CEFR system. Applicants should be able to read a Masters-level textbook and write seminar papers in English without difficulty. Such abilities are best demonstrated by standardized tests such as TOEFL (preferred), IELTS, ESOL, etc. We recommend that applicants register our institutional code 6633 when taking the TOEFL exam so that the results are sent directly to our faculty. A TOEFL score above 90 and IELTS above 6.5 points gives an applicant good chances for admission.

We do not require a standardized English test score from applicants who:

  • Are native speakers, or
  • Have studied in English at the secondary school level for at least two years with an average grade point average (GPA) in the top 35 % of the grading scale, or
  • Have studied in English at the university level for at least one year with an average GPA in the top 50% of the grading scale, or
  • Have worked for at least one year at a company where the language of communication was English, or
  • Have passed Level II of the CFA exams in English.

When a score from an English-language test is not presented, the applicants should provide a certificate of their use of English during their prior studies or employment. The certificate should contain contact information (an e-mail address and a telephone number) to the person (a program director, or an employee supervisor) who can confirm the scope of the use of English language in the program or employment.

Analytical Skills

Applicants should have good analytical quantitative skills. Applicants should have studied at least two terms of Bachelor level mathematics. Prior knowledge of economics or finance is an advantage but it is not required. Applicants should be familiar with the following topics of calculus and linear algebra: functions, limits, derivatives, partial derivatives, optimization techniques, matrix algebra, and differential and difference equations. They should have an introductory-level understanding of probability distributions, hypothesis testing, linear regressions, and the OLS estimation method.

Applicants’ analytical and quantitative ability is best demonstrated by the GRE tests, GMAT tests or by completing one or more levels of the CFA Exams. For GREs, please use our institutional code 1649 so that the results are sent directly to our faculty. A GMAT score above 600 points and above 40 points in the quantitative section or a GRE score above 155 points in the quantitative section give an applicant good chances for admission.

We do not require a standardized test score from applicants who:

  • Have studied in a quantitative program at the university level with at least the equivalent of 30 ECTS credits of mathematics, statistics, econometrics, or similar, with a score for each of the courses in the top 50 % of the grading scale, or
  • Have worked for at least one year in a private or governmental institution in the area of statistics or econometrics where they used quantitative methods on a regular basis and where they took responsibility for independent tasks, or
  • Have achieved a high rank in a recognized competition in mathematics, e. g. mathematical Olympiad. When a score from an ability test is not presented, the applicants should provide a certificate of their past achievements, studies or employment.

While we do not require a score from GRE or GMAT test when the conditions above are met, a good GRE or GMAT score still significantly strengthens the application and increases an applicant's chances for admission.

All documents which are not originally in Czech, Slovak or English must be accurately translated into English.

All candidates must complete Bachelor level education before they start studying the program. The selection of candidates is based on the submitted documents. The admission committee evaluates (i) candidates’ aptitude for studies based on their past study results and on the results from ability tests, (ii) their command of English, and (iii) their motivation for studies. The point limit for admission is set by the Dean of the Faculty of Social Sciences of Charles University. Upon request, applicants may also be asked to take part in an online interview to assess their potential.

Conditions for admission

Admission to Master's studies is conditioned by completed secondary education confirmed by a school-leaving certificate. Admission to Post-Bachelor studies (Master's program) is likewise conditioned by completed education in any type of study program.

Verification method: other form
Confirmation date (of entrance exam) from: __ until: __
Alternative date (of entrance exam) from: __ until: __

Career Prospect

Masters graduates are qualified to undertake advanced-level quantitative analysis and modeling in economics and finance. The courses in the program are constructed in line with the graduate programs in Economics and Finance in the top universities in the EU, including a significant part of econometrics. Masters graduates are familiar with the advanced economics knowledge and quantitative skills, as well as detailed knowledge about particular topics in financial markets, banking, corporate finance, international trade and finance, public economics and economic policy-making. The graduates are typically financial analysts, economists in corporations, consultants, economists in central banks and international organizations, or pursue doctoral degrees in economics or finance.

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Last updated January 9, 2019
This course is Campus based
Start Date
Oct. 2019
2 years
6,000 EUR
per academic year. Online Application fee: 640 CZK. Paper Application fee: 690 CZK.
Apr. 30, 2019
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Start Date
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