Master of Arts in Economics, Data, and Policy (2 years)
Vienna, Austria
DURATION
2 Years
LANGUAGES
English
PACE
Full time
APPLICATION DEADLINE
Request application deadline *
EARLIEST START DATE
Request earliest startdate
TUITION FEES
EUR 12,000 / per year **
STUDY FORMAT
On-Campus
* application deadline for applicants for master’s programs students form all other countries and if they seek financial aid
** payable in one or two installments, non-refundable initial tuition fee installment (€500 EUR) is paid to confirm your acceptance of our offer of admission and is credited towards the 1st tuition fee installment in year 1
Introduction
The MA in Economics, Data, and Policy will equip you with a solid foundation in economics and quantitative methodology and the ability to interpret data and link them to economic and social processes. The skills you gain will enable you to pursue a variety of exciting careers. In recent years, graduating students have:
- Continued their studies in highly ranked PhD programs: Boston University, Duke University, CEU, Graduate Institute of International and Development Studies (Switzerland), University of California at San Diego, University of California at Santa Barbara, and University of Michigan.
- Engaged in policy and research work in the public sector, at international organizations or think tanks: European Commission, European Investment Bank, ECB, International Monetary Fund (IMF), RAND Corporation, United Nations (UN), and World Bank.
- Embarked on careers in banking, finance, or consulting: BlackRock, Boston Consulting Group, Citi, Ernst & Young, KPMG, Morgan Stanley, McKinsey, PWC, Raiffeisen.
Why study for an MA in Economics, Data, and Policy degree at CEU?
Top reasons:
- Modern curriculum. Emphasis on understanding society and economics and gaining essential quantitative skills for the future.
- Flexibility. Tailored to your skills and unique ambitions --- be it data analysis, policy work, consulting, or research. Choose the track that suits you in your second year, there is no need to commit ahead of time.
- Accredited in the US and Austria.
- Career prospects. Our graduates are in high demand on the job market, and we also have a great placement record in world-class PhD programs.
- Scholarships. Top applicants will be offered a full tuition waiver and a 10,000-euro scholarship per year; additional substantial tuition waivers and smaller stipends are also available.
- Internationally diverse. Cultural diversity is a highly valued part of the CEU experience. Countries of origin of recent students include Afghanistan, Austria, Bangladesh, Brazil, Bulgaria, Hungary, Italy, Kazakhstan, Mongolia, Portugal, Russia, Thailand, Vietnam, Ukraine, United States, among many others.
- Top faculty. Courses taught by researchers holding PhDs from Harvard, Princeton, Cambridge, LSE, etc., and practitioners from central banks and leading companies such as Meta, Morgan Stanley, etc.
- Study in Vienna. Consistently rated as the world's most livable city.
- Fully English language university. Knowledge of German is not required at CEU.
Choose one of four tracks:
- The Data Science track gives you cutting-edge data science skills to analyze and correctly interpret economic data. It prepares you to be a business intelligence analyst, data scientist, data engineer, or business consultant.
- The Research (pre-PhD) track puts special emphasis on quantitative skills and exposes you to the frontiers of economic research. This track prepares you for a PhD or for technical research jobs in the public and private sectors. If you decide to go on to a PhD in Economics at CEU, most of your coursework will be counted toward it.
- The Global Economic Policy track gives a broad view of the economy and a deep understanding of the economic policy process. It also provides you with the analytical ability to evaluate economic policies. The track is an ideal stepping stone if you want a job in government (ministries, central banks), in international organizations, or in the private sector (banks, consulting firms, etc.).
- The Finance track gives a detailed view of the financial system based on the principles of economics. You will understand how finance can serve society, preparing you for analyst jobs in central banks, commercial banks, and consulting firms.
Looking for a one-year version of this program?
- Do you already have a sound foundation in economics? Check out the one-year version of the program with Research and Global Economic Policy tracks.
- Are you aiming for a job in business or want to study only part-time? Check out our MS in Business Analytics and MS in Finance programs.
Program Accreditation/Registration
- The program was approved and registered by the New York State Education Department
- Program accredited by the Agency for Quality Assurance and Accreditation Austria (AQ-Austria)
Admissions
Scholarships and Funding
To master’s candidates, we award financial aid based on academic merit. You can apply for financial support for master’s studies in the Funding section of the Online Application Form.
Financial aid is granted on the basis of academic merit. The top candidates in the MA in Economics, Data, and Policy will receive a full tuition waiver and 10,000 EUR per year as a scholarship. Partial tuition waivers and smaller stipends will also be offered.
Curriculum
Design your curriculum to match your ambitions
Year 1: Build Your Foundations
Mandatory courses (qualified students may choose an advanced PhD-level course as a substitute, indicated in parenthesis):
- Introduction to Quantitative Methods (or Advanced Pre-session in Mathematics)
- Data Analysis 1, 2 & 4 (or Statistics for Econometrics and Advanced Econometrics 1 & 2)
- Microeconomics (or Advanced Microeconomics)
- Macroeconomics (or Advanced Macroeconomics)
- Current Economic Issues Seminar (or PhD Research Seminar)
- Coding for Economists (or Scientific Python)
- Academic Writing
Sample Electives (can also be taken in the second year):
- Competition Policy
- Designing Markets that Work
- Ecological Economics
- Economics of the Public Sector
- Energy Markets
- Fintech in Depth
- Future of Work
- International Political Economy
- Labor Economics
- Monetary Policy
- Python Programming, Visualization, and Text Analysis
+ You may start taking some courses from the second-year tracks below
Year 2: Choose Your Track
By the beginning of your second year, you choose one of four tracks that best suit your career plans and interests. You must take the courses required in your track, but this still leaves you with substantial flexibility to choose courses from other tracks or electives that you are interested in.
Data Science Track
- Data Analysis 3: Prediction and Introduction to Machine Learning
- Data Engineering 1: SQL and the Different Shapes of Data
- Date Engineering 2: Cloud Computing
+ take at least three courses from the following list:
- Data Science: Machine Learning ToolsMachine Learning for Natural Language Processing 1
- Machine Learning for Natural Language Processing 2: Deep Learning
- Theory and Practice of Economic Forecasting
- Statistics for Econometrics
- Research Internship
- Advanced Econometrics 1
- Advanced Econometrics 2
Research (pre-PhD) Track
- Game Theory and Asymmetric Information
- Statistics for Econometrics
+ take least two of the following:
- Advanced Econometrics 1 & 2
- Advanced Microeconomics
- Advanced Macroeconomics
+ take at least three courses from the following list:
- Research Internship
- PhD-level research electives (offer changes by year). If you took Advanced level core courses in your first year, you may take more research electives in your second year.
Global Economic Policy Track
- Global Economy: Emergence and Current Issues
- International Economic Policy
- Economic Policy Seminar Series
+ take at least three courses from the following list:
- Policy Internship
- Economic Policy and Global Strategy
- International Economic Integration
- Fiscal Policy in Practice
- Development Economics
- Impact Evaluation: Policy Applications with R
- Theory and Practice of Economic Forecasting
Finance Track
- Financial Management
- Trading and Portfolio Theory
- Corporate Finance and Risk Management
+ take at least three courses from the following list:
- Asset Pricing
- Banking and Financial Institutions
- Fixed Income Analysis
- Financial Reporting and Control
- Games and Asymmetric Information
In the Spring term of the second year, students on all tracks will participate in a Thesis Seminar and write a master’s thesis.
Program Outcome
The program is intended to provide students with the skills required of a 21st-century economist and prepare them for a broad range of careers from government and research to the private sector.
Upon completion of the program, all students are expected to possess the following skills:
- Solid analytical foundations in microeconomics and macroeconomics
- Command of basic statistical (data science) concepts and software needed to analyze economic data
- Some familiarity with the economic policy process and ability to debate economic policy issues
- The ability to communicate effectively in writing and via presentations
Additional track-specific learning outcomes include:
- Global Economic Policy track:
- Familiarity with the institutional makeup of the global economy
- Using the analytical tools of economics and statistics to evaluate or formulate economic policy
- Understanding of the broader socio-economic and political economy context of policy-making
- Familiarity with pertinent issues in some sub-fields of economic policymaking such as health, poverty, education, fiscal policy, etc.
- Familiarity with the institutional makeup of the global economy
- Using the analytical tools of economics and statistics to evaluate or formulate economic policy
- Understanding of the broader socio-economic and political economy context of policy-making
- Familiarity with pertinent issues in some sub-fields of economic policymaking such as health, poverty, education, fiscal policy, etc.
- Research (pre-PhD) track
- Familiarity with advanced concepts and models in macroeconomics and microeconomics
- Familiarity with advanced econometric methods with an emphasis on causal inference
- The ability to conduct original academic research in economics
- Familiarity with advanced concepts and models in macroeconomics and microeconomics
- Familiarity with advanced econometric methods with an emphasis on causal inference
- The ability to conduct original academic research in economics
- Data Science track
- Familiarity with advanced statistical methods and concepts, including modern “machine learning” methods and the ability to apply them to economic issues
- The ability to use advanced statistical methods to address prediction problems in economics
- The ability to understand and write computer code
- Familiarity with advanced statistical methods and concepts, including modern “machine learning” methods and the ability to apply them to economic issues
- The ability to use advanced statistical methods to address prediction problems in economics
- The ability to understand and write computer code
- Finance track
- Demonstrate advanced theoretical and practical skills to understand the economic forces underlying financial markets and institutions
- The ability to understand and evaluate financial regulation, including the sustainability aspects of such regulation
- Communicate and articulate finance, problems, and ideas to both professional and non-professional audiences
- Demonstrate advanced theoretical and practical skills to understand the economic forces underlying financial markets and institutions
- The ability to understand and evaluate financial regulation, including the sustainability aspects of such regulation
- Communicate and articulate finance, problems, and ideas to both professional and non-professional audiences
Career Opportunities
Build critical, in-demand skills for a successful career
The MA in Economics, Data, and Policy will equip you with a solid foundation in economics and quantitative methodology and the ability to interpret data and link them to economic and social processes. The skills you gain will enable you to pursue a variety of exciting careers. In recent years, graduating students have:
- Continued their studies in highly ranked Ph.D. programs: Boston University, Duke University, CEU, Graduate Institute of International and Development Studies (Switzerland), University of California at San Diego, University of California at Santa Barbara, and University of Michigan.
- Engaged in policy and research work in the public sector, at international organizations or think tanks: European Commission, European Investment Bank, ECB, International Monetary Fund (IMF), RAND Corporation, United Nations (UN), and World Bank.
- Embarked on careers in banking, finance, or consulting: BlackRock, Boston Consulting Group, Citi, Ernst & Young, KPMG, Morgan Stanley, McKinsey, PWC, Raiffeisen.
Program Admission Requirements
Show your commitment and readiness for Grad school by taking the GRE - the most broadly accepted exam for graduate programs internationally.