Applied
Economics

Our resources (labor, savings, time, and attention) are scarce, meaning they are available in limited quantities. Economists seek to understand how to distribute these efficiently at the level of individuals, businesses, and states. How do the prices of individual products emerge? Who sets the prices? How do government interventions affect the economy? What causes inflation or unemployment? Why are some countries wealthier than others? Economists work with data-based statistical analyses, mathematical models, and economic theories to find answers to these questions. The BSc in Applied Economics offers an introduction to this exciting world, providing a solid foundation for both entering the job market and pursuing master-level studies.

A guy named Snow, considered practically a nobody at the beginning, takes down powerful enemies and is celebrated as a hero by the end of the story. Does that sound familiar? Surely it does, but no, this is not about Ned Stark’s illegitimate son, the bastard. It is about John Snow, who revolutionized the fight against cholera in mid-19th-century London through extensive data collection and rigorous analysis, saving many lives. Snow is now known as the father of epidemiology. Have you ever heard about the Nazis’ grand plan, Operation Bernhard, where they aimed to cause economic chaos in Great Britain by counterfeiting British banknotes and flooding the country with them to gain an advantage in the war? An Oscar-winning movie, The Counterfeiters, was even made about the story. Snow based his idea on data analysis, while the Nazis relied on economic theories. In the program, we focus on these two areas, and my colleagues and I are constantly working to train economists who are capable of combining theory with empirical methodologies.

Studying Applied Economics at Corvinus is both challenging and rewarding. The program offers a comprehensive view of economics, blending theory with practical, real-world applications. From economic theory to data-driven econometrics, it covers all the foundations, allowing students to tailor their development. The modern campus provides a great environment for learning, complemented by a vibrant student life. With events like the annual career festival and the presence of diverse student organizations, Corvinus offers numerous opportunities to grow, connect, and make the most of the university experience.