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Economic Analyst Master of Sciences Program


With the arrival of the data revolution, more and more firms and policy institutions employ economic analysts to foster fact-based decision-making. The goal of this two-year program is to provide students with the understanding of economic processes and the ability to carry on empirical economic analysis. This is achieved by learning up-to-date economic theory, data analysis, and their application to real-world analysis.

If you have an interest in data analysis and economic theory, this program may match your interests. You can apply for full coverage of the tuition and scholarship at Stipendium Hungaricum. See the details below.

Goals of the program:
  • Understand economic processes with state-of-the-art theories
  • Learn how to use data to answer relevant economic questions and analyze policies
  • Improve soft skills (writing, presentation, teamwork)
  • Use the gained skills to do economic analysis of public and corporate policy
In the first two quarters, students study core courses. In Q3 and Q4 students get familar with the core topics of their specialization. During the second year, students can choose from a wide array of elective courses, have to do a project in small groups, and write their Masters’ Thesis.


The Macroeconomic Analyst Specialization provides up-to-date macroeconomic and macrofinancial knowledge, combined with policy analysis. Students learn standard methods of data analysis and macroeconomic modelling. The also get acquainted with the modern views of macroeconomics and their critique. At the end of the program, students will be able to analyze complex economic situations and help decision making.

The aim of the Industrial Analyst Specializaton is to present the internal processes of firms and the market interactions between corporations. Students learn how to describe these processes theoretically and analyze them empirically. At the end of the program, students will be able to foster corporate and economic policy making with high-quality analysis.

Career goals

Demand for the skills of economic analysts has been increasing ever since the availability of large databases. Potential employers include the following:
  • Large corporations with an economic analysis department (e.g., banks, companies in regulated industries)
  • Consulting companies (e.g., McKinsey, Big4, SMEs with a focus on consulting)
  • Consumer research companies (Nielsen, etc.)• Governmental bodies (National Banks, Ministries, Competition Authority, etc.)
  • International organizations (OECD, European Commission, Research Hubs, etc.)
  • The program offers solid background to pursue studies in international Phd programs
Program Administration

The program is led by the MNB Institute. Teaching is done predominantly by the academic stuff from the Institute of Economics and the MNB Institute, but other institutes of the University are also involved in teaching and thesis advice (e.g., the Institute of Economic and Public Policy and the Institute of Mathematics and Statistical Modelling).

Facts and Figures

Name of the Program: Economic Analyst MSc;
Program type: Masters;
Duration: 2 years, divided in 8 Quarters;
Language of Instruction: English
Start: First week of September

Directors of the program: Prof. Álmos Telegdy (Head of the Program), Prof. László Szakadát (Head of the Industrial Organization Analyst specialization), Prof. Balázs Világi (Head of the Macroeconomic Analyst specialization).

Program Coordinator: Mr. Ákos Deák (email:
Pre-Session: In the first two weeks of the program incoming students are enrolled pre-session courses in mathematics and statistics. The aim of these courses is to refresh your knowledge and bring everybody to the same level.

The following topics are taught:
  • Mathematics: vector algebra, derivatives, matrix algebra, systems of linear equations, unconditional and constrained optimization in several variables.
  • Statistics: random variables, densities, expected values, covariance, correlation, the normal distribution, basics of estimation, properties of estimators.
Core Courses: In the first two quarters students take corecourses in intermediate Micro- and Macroeconomics, Data Analysis andEconometrics.

Core SpecializationCourses: In Quarters 3 and 4 thecore courses of the two specializations are organized.

Electives: During the second year, students may choose from awide array of elective courses in both micro and macroeconomics. These courses buildon the knowlege acquired in the first year and present one field of economics(e.g., International Trade, Macroeconomics of Open Economies). They also bring together theory and empirical applications. Other courses deepen students’knowledge in methodology (e.g., Machine Learning in Economics, Topics inMacroeconometrics)

„Hands on” learning: to give students an opportunity to practiceeconomic analysis, the program has a project course, when students,organized in small teams, carry out the analysis of a real-world economicproblem. During the thesis seminar students do their own research andwrite the Masters’ Thesis.

The detailed course structure is HERE

Admission requirements

You need to fulfil the following set of requirements:

  • Completed Bachelor’s degree. If you did not do your BA studies in economics/business, you still may want to apply if you are interested in economic analysis and have some knowledge of mathematics.
  • Proof of knowledge of English. You may prove your language skill with one of the following:
    • Completed BA/BSc in a program with English as the language of instruction.
    • Language exams (results): CEFR (C1); Cambridge (CAE/CPE); IELTS (6.5); TOEFL (79); TOEFL (iBT 94); TOEIC (900).
    • A test by the University during the application process.
  • Proof of your excellence. You may prove your level of knowledge with one of the following:
    • A degree with a minimum grade of C (ECTS) from any member university of AACSB/EQUIS/CEMS networks or a program accredited by EAPAA/EPAS.
    • GMAT score of 500 or GRE score of 151.
    • Score of 65 at the University entrance exam (70 points: interview with the Program’s professors, 20 point: BA diploma, 10 point: miscellaneous). At the interview you will have to answer basic mathematical questions (e.g., solve a simple derivative or an equation) and discuss the potential effects of economic or corporate policies (e.g., how will a firm react to an increase in the minimum wage; what are the effects of an increase of the baseline interest rate by the National Bank).
For the exact deadline and application requirements contact the Student Office.


For information on scholarships for Hungarian citizens go to the Hungarian website of the Program.

Stipendium Hungaricum is provided by the Hungarian Government for non-EU citizens. It covers the following items:
  • tuition fee
  • monthly scholarship
  • dormitory accommodation or housing allowance
  • health insurance
  • and many other benefits.

Application deadline: around mid-January. For the exact deadline and eligibility requirements visit Stipendium Hungaricum’s website or the Student Office.
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