Master Year 2 in Economics
| Year | Master Year 2 |
| Program | Economics |
| ECTS Credits | 60 |
| Language | English |
| Orientation | Research & Industry |
| Location | Palaiseau Campus |
| Course duration | 12 months, full time |
| Course start | September |
| Degree awarded | Master’s degree |
WHY ENROLL IN THIS PROGRAM?
Asset n° 1
Specialize in a sub-field of economics
Asset n°2
Pursue a PhD or career opportunities at a national or international level
Asset n°3
Gain significant experience through research projects
Institut Polytechnique de Paris offers a two-year research-oriented program in economics taught in English. It offers advanced training in economics through coursework and faculty supervision. It is aimed at students who want to become professional economists working in government, central banking, international organizations, consulting, finance or in academic research.
The program heavily relies on advanced quantitative methods for both theoretical and empirical analysis. During the second year, students will specialize in a specific economics subfield. By the end of the year, they will be familiar with the research frontier for their major and have gained successful research project experience. They will also have started writing a research paper.
Objectives
The second year of the program aims to:
- Provide advanced training in economics at a high international level with a strong emphasis on advanced quantitative methods for both theoretical and empirical analysis
- Provide students with the opportunity to specialize in a sub-area of economics e.g. econometric theory, environmental and development economics, finance, game and decision theory, industrial organization and digital economics, international economics, labor economics, macroeconomics or public economics
- Offer students the opportunity to conduct a research project and write a Master’s dissertation under the direction of a faculty member
After graduation, students will be able to pursue a career in a wide range of sectors including:
- Government agencies
- International organizations
- Consulting
- Finance
Career prospects
The wide variety of courses, seminars, projects and internships proposed during the master offers the possibility, for every student, to build his/her own curriculum in economics. There are many job opportunities available immediately after the master, for instance in government agencies, international organizations, consulting, finance. Students may join PhD programs in international universities.
3 years after completion of the Master in Economics:
- 42% of former students work for a research institution, (36% PhD candidates and 6% in other positions);
- 17% work for the French high administration (ministry);
- 19% work for a private firm (Consulting, Bank, Multinational Firms);
- 6% work for NGO specialized in the economic analysis of the climate change;
- 6% work for International Institutions (OECD, European Central Bank, World Bank, IMF, …);
- 23% of the former students work outside of France (12% in the US, 6% in Europe and 4% in Pacific Region).
PhD candidates pursuing an academic career after a PhD in Economics at IPParis find placement in the best universities (Princeton, Cornell, Bocconi, LMU Munich, Paris School of Economics, Chicago, …). Other PhD candidates join International Institutions (World Bank, ECB, IMF, …) or private firms.
Students choose between 20 and 28 ECTS in the first semester. The choice of courses over the entire year must total 40 ECTS. The master thesis counts for 20 ECTS.
Students are free to choose their courses as long as the timetables are compatible.
The program offers more than 20 courses including core advanced courses and specialization courses in Econometrics, Financial economics, Game and decision theory, Industrial organization and digital markets, Labor economics, International trade, Macroeconomics and Public economics.
Courses offered in the program may change marginally from one year to another.
PhD Track students must follow at least one Advanced courses track (for instance "Advanced Microeconomics: Game Theory" and "Advanced Microeconomics: Design and Study of Markets"). If they progress to the year 3, students must have followed two Advanced courses tracks by the end of year 3.In addition, PhD Track students must have followed « Topics in the History of Applied Economics » by the end of year 3.
Courses of the M2 of the Master in Economics are listed below, by field.
- Advanced Microeconomics, Olivier Gossner, Frederic Koessler, 24h, 4ECTS (S1)
- Advanced Macroeconomics, Julien Prat, 24h, 4ECTS (S1)
Advanced Econometrics, Laurent Davezies, Arne Uhlendorff, 24h, 4ECTS (S1)
- Advanced Macroeconomics: Numerical Methods, Pablo Winant, 18h, 3 ECTS (S2)
- Advanced Econometrics: Semi-parametric and simulations, Thierry Kamionka, Xavier d'Haultfoeuille, 24 hours, 4 ECTS (S2)
- Advanced Microeconomics : Design and Study of Markets, Julien Combe, Yves Le Yaouanq, 24h, 4 ECTS (S2)
- Corporate Finance Theory, Bruno Biais, 24h, 4 ECTS (S1)
- Banking and Financial Intermediation, Guillaume Vuillemey, 24h, 4 ECTS (S1)
- Asset Pricing : Theoretical Foundations, Thierry Foucault, 24h, 4 ECTS (S1)
- Empirical Corporate Finance, Matthias Efing, 18h, 3 ECTS (S2)
- Empirical Asset Pricing, Irina Zviadadze, 18h, 3 ECTS (S2)
- Experiments in Economics and Social Sciences, Guillaume Hollard, 24h, 4 ECTS (S1)
- Social Choice and Voting, Yukio Koriyama, Matias Nunez, 24h, 4 ECTS (S2)
- Behavioral Decision Theory, Mohammed Abdellaoui, 24h, 4 ECTS (S2)
- Theory of Industrial Organization, Marie-Laure Allain, Laurent Linnemer, 24h, 4 ECTS (S1)
- Empirical Industrial Organization, Hugo Molina, 24h, 4 ECTS (S1)
- Labor Economics, Frank Malherbet, Roland Rathelot, 24h, 4 ECTS (S1)
- Microeconometric Evaluation of Public Policy, Bruno Crépon, Félix Pasquier, 24h, 4 ECTS (S1)
- Randomized Methods and Policy Evaluation, Bruno Crépon, 24h, 4 ECTS (S1)
- Urban Labor and Housing Markets, Benoît Schmutz, 12h, 2 ECTS (S2)
- Applied Labor Economics, Roland Rathelot, 18h, 3 ECTS (S2)
- International Trade, Grégory Corcos, 24h, 4 ECTS (S1)
- Monetary Economics, Olivier Loisel, 18h, 3 ECTS (S1)
- Information and Expectations in Macroeconomics, Gaetano Gaballo, 24h, 4 ECTS (S1)
- Applied Macroeconomic Modelling : Policies, the Business Cycle, and the Green Transition, Gauthier Vermandel, Benoît Campagne, 12h, 2 ECTS (S2)
- International Macroeconomics, Eric Mengus, 24h, 4 ECTS (S2)
- Public Economics, Enrico Rubolino, 24h, 4 ECTS (S1)
- Public Finance, Pierre Boyer, Jean-Baptiste Michau, 24h, 4 ECTS (S1)
- Economics of Inequality : Measures and Findings, Bertrand Garbinti, 24h, 4 ECTS (S1)
- Political Economy, Matias Nunez, Alessandro Riboni, 24h, 4 ECTS (S1)
- Health Economics, Philippe Choné, David Bardey, 24h, 3 ECTS (S1)
- Environmental Economics : Analysis and Modelling, Jean-Marc Bourgeon, 24h, 4 ECTS (S1)
- Green Finance, Peter Tankov, Olivier David Zerbib, 12h, 2 ECTS (S1)
- Development Economics, Pauline Rossi, 24h, 4 ECTS (S2)
- Economics of Energy Markets, Nicolas Astier, Louis-Gaëtan Giraudet, Laurent Lamy, 18h, 3ECTS (S2)
- Empirical Environmental Economics, Marion Leroutier, 24h, 4 ECTS (S2)
- Macroeconometrics and Machine Learning, Anna Simoni, 18h, 3 ECTS (S1)
- Macroeconometrics : Advanced Time-Series Analysis, Giovanni Ricco, 24h, 4 ECTS (S1)
- Structural Econometrics of Education, Christian Belzil, 12h, 2 ECTS (S2)
- Machine Learning for Econometrics, Bruno Crépon, Anthony Strittmatter, 24h, 4 ECTS (S2)
- Econometrics of Commodity and Asset Pricing, Fulvio Pegoraro, 18h, 3 ECTS (S2)
- Topics in the History of Applied Economics, Béatrice Cherrier, 24h, 4 ECTS (S2)
- Languages :
— English : Public speaking, 3 ECTS
— French : Langue étrangère, 3 ECTS
In addition to the courses, students undertake a research project. This project, supervised by a faculty member (in exceptional circumstances the project may be supervised - with permission from the program director - by a researcher outside the participating institutions) from the associated research centres (i.e., CREST at Ecole polytechnique and ENSAE Paris, i3-SES at Telecom Paris and GREGHEC at HEC Paris), leads to a master's thesis (up to 10000 words).
Master's thesis defenses can take place in June or early July, and in September.
The oral defense includes the supervisor as well a second faculty member acting a jury chair. The master's thesis is worth 20 ECTS.
Admission requirements
Academic prerequisites
Completion of the first year of the Master in economics at Institut Polytechnique de Paris. In exceptional circumstances, students having completed the first year of an equivalent program (in France or abroad) may be directly admitted to the second year of the program.
Language prerequisites
B2 level in English is required.
How to apply
Applications can be submitted exclusively online. You will need to provide the following documents:
- Transcript
- Two academic references (added online directly by your referees)
- CV/resume
- Statement of purpose (should demonstrate that the first year of an equivalent research-oriented master program has been completed or is close to completion)
You will receive an answer in your candidate space within 2 months of the closing date for the application session.
Fees and scholarships
Registration fees are available here
Find out more about scholarships
Please note that fees and scholarships may change for the following year.
Applications and admission dates
Coordinator
Program office
General enquiries
Dates 2025-2026
The Starting day of the master will take place on Monday, September 29th at ENSAE, Palaiseau; useful information will be announced during this meeting.
Courses start at ENSAE on September 30th. Financial specialization courses take place on Mondays at HEC. Courses start at HEC on October 6th.
Christmas and New Year's vacations are from December 20th, 2025 until January 4th, 2026.
The first semester ends on January 14th, 2026.
First semester exams start on January 19th, 2026 and end on January 23th, 2026.
Second semester starts on January 26th, 2026 and ends on April 28th, 2026.
There will be a break from February 28th until March 8th, 2026.
Second semester exams start on May 4th until May 7th, 2026.
Master thesis defenses can take place in July, September (first session) or October (second session).
Location
Courses will be located at ENSAE, 5 avenue Henry Le Chatelier, Palaiseau. For more informations please consult: https://www.ensae.fr/en/access-transports/
Financial economics courses take place on Mondays at HEC, Jouy-en-Josas campus.
Schedule
Please find a provisional version of the second semester schedule here. This document is not fully accurate, and students must check the schedule on Pamplemousse.
Institut Polytechnique de Paris offers a two-year research-oriented program in economics taught in English. It offers advanced training in economics through coursework and faculty supervision. It is aimed at students who want to become professional economists working in government, central banking, international organizations, consulting, finance or in academic research.
The program heavily relies on advanced quantitative methods for both theoretical and empirical analysis. During the second year, students will specialize in a specific economics subfield. By the end of the year, they will be familiar with the research frontier for their major and have gained successful research project experience. They will also have started writing a research paper.
Objectives
The second year of the program aims to:
- Provide advanced training in economics at a high international level with a strong emphasis on advanced quantitative methods for both theoretical and empirical analysis
- Provide students with the opportunity to specialize in a sub-area of economics e.g. econometric theory, environmental and development economics, finance, game and decision theory, industrial organization and digital economics, international economics, labor economics, macroeconomics or public economics
- Offer students the opportunity to conduct a research project and write a Master’s dissertation under the direction of a faculty member
After graduation, students will be able to pursue a career in a wide range of sectors including:
- Government agencies
- International organizations
- Consulting
- Finance
Career prospects
The wide variety of courses, seminars, projects and internships proposed during the master offers the possibility, for every student, to build his/her own curriculum in economics. There are many job opportunities available immediately after the master, for instance in government agencies, international organizations, consulting, finance. Students may join PhD programs in international universities.
3 years after completion of the Master in Economics:
- 42% of former students work for a research institution, (36% PhD candidates and 6% in other positions);
- 17% work for the French high administration (ministry);
- 19% work for a private firm (Consulting, Bank, Multinational Firms);
- 6% work for NGO specialized in the economic analysis of the climate change;
- 6% work for International Institutions (OECD, European Central Bank, World Bank, IMF, …);
- 23% of the former students work outside of France (12% in the US, 6% in Europe and 4% in Pacific Region).
PhD candidates pursuing an academic career after a PhD in Economics at IPParis find placement in the best universities (Princeton, Cornell, Bocconi, LMU Munich, Paris School of Economics, Chicago, …). Other PhD candidates join International Institutions (World Bank, ECB, IMF, …) or private firms.
Students choose between 20 and 28 ECTS in the first semester. The choice of courses over the entire year must total 40 ECTS. The master thesis counts for 20 ECTS.
Students are free to choose their courses as long as the timetables are compatible.
The program offers more than 20 courses including core advanced courses and specialization courses in Econometrics, Financial economics, Game and decision theory, Industrial organization and digital markets, Labor economics, International trade, Macroeconomics and Public economics.
Courses offered in the program may change marginally from one year to another.
PhD Track students must follow at least one Advanced courses track (for instance "Advanced Microeconomics: Game Theory" and "Advanced Microeconomics: Design and Study of Markets"). If they progress to the year 3, students must have followed two Advanced courses tracks by the end of year 3.In addition, PhD Track students must have followed « Topics in the History of Applied Economics » by the end of year 3.
Courses of the M2 of the Master in Economics are listed below, by field.
- Advanced Microeconomics, Olivier Gossner, Frederic Koessler, 24h, 4ECTS (S1)
- Advanced Macroeconomics, Julien Prat, 24h, 4ECTS (S1)
Advanced Econometrics, Laurent Davezies, Arne Uhlendorff, 24h, 4ECTS (S1)
- Advanced Macroeconomics: Numerical Methods, Pablo Winant, 18h, 3 ECTS (S2)
- Advanced Econometrics: Semi-parametric and simulations, Thierry Kamionka, Xavier d'Haultfoeuille, 24 hours, 4 ECTS (S2)
- Advanced Microeconomics : Design and Study of Markets, Julien Combe, Yves Le Yaouanq, 24h, 4 ECTS (S2)
- Corporate Finance Theory, Bruno Biais, 24h, 4 ECTS (S1)
- Banking and Financial Intermediation, Guillaume Vuillemey, 24h, 4 ECTS (S1)
- Asset Pricing : Theoretical Foundations, Thierry Foucault, 24h, 4 ECTS (S1)
- Empirical Corporate Finance, Matthias Efing, 18h, 3 ECTS (S2)
- Empirical Asset Pricing, Irina Zviadadze, 18h, 3 ECTS (S2)
- Experiments in Economics and Social Sciences, Guillaume Hollard, 24h, 4 ECTS (S1)
- Social Choice and Voting, Yukio Koriyama, Matias Nunez, 24h, 4 ECTS (S2)
- Behavioral Decision Theory, Mohammed Abdellaoui, 24h, 4 ECTS (S2)
- Theory of Industrial Organization, Marie-Laure Allain, Laurent Linnemer, 24h, 4 ECTS (S1)
- Empirical Industrial Organization, Hugo Molina, 24h, 4 ECTS (S1)
- Labor Economics, Frank Malherbet, Roland Rathelot, 24h, 4 ECTS (S1)
- Microeconometric Evaluation of Public Policy, Bruno Crépon, Félix Pasquier, 24h, 4 ECTS (S1)
- Randomized Methods and Policy Evaluation, Bruno Crépon, 24h, 4 ECTS (S1)
- Urban Labor and Housing Markets, Benoît Schmutz, 12h, 2 ECTS (S2)
- Applied Labor Economics, Roland Rathelot, 18h, 3 ECTS (S2)
- International Trade, Grégory Corcos, 24h, 4 ECTS (S1)
- Monetary Economics, Olivier Loisel, 18h, 3 ECTS (S1)
- Information and Expectations in Macroeconomics, Gaetano Gaballo, 24h, 4 ECTS (S1)
- Applied Macroeconomic Modelling : Policies, the Business Cycle, and the Green Transition, Gauthier Vermandel, Benoît Campagne, 12h, 2 ECTS (S2)
- International Macroeconomics, Eric Mengus, 24h, 4 ECTS (S2)
- Public Economics, Enrico Rubolino, 24h, 4 ECTS (S1)
- Public Finance, Pierre Boyer, Jean-Baptiste Michau, 24h, 4 ECTS (S1)
- Economics of Inequality : Measures and Findings, Bertrand Garbinti, 24h, 4 ECTS (S1)
- Political Economy, Matias Nunez, Alessandro Riboni, 24h, 4 ECTS (S1)
- Health Economics, Philippe Choné, David Bardey, 24h, 3 ECTS (S1)
- Environmental Economics : Analysis and Modelling, Jean-Marc Bourgeon, 24h, 4 ECTS (S1)
- Green Finance, Peter Tankov, Olivier David Zerbib, 12h, 2 ECTS (S1)
- Development Economics, Pauline Rossi, 24h, 4 ECTS (S2)
- Economics of Energy Markets, Nicolas Astier, Louis-Gaëtan Giraudet, Laurent Lamy, 18h, 3ECTS (S2)
- Empirical Environmental Economics, Marion Leroutier, 24h, 4 ECTS (S2)
- Macroeconometrics and Machine Learning, Anna Simoni, 18h, 3 ECTS (S1)
- Macroeconometrics : Advanced Time-Series Analysis, Giovanni Ricco, 24h, 4 ECTS (S1)
- Structural Econometrics of Education, Christian Belzil, 12h, 2 ECTS (S2)
- Machine Learning for Econometrics, Bruno Crépon, Anthony Strittmatter, 24h, 4 ECTS (S2)
- Econometrics of Commodity and Asset Pricing, Fulvio Pegoraro, 18h, 3 ECTS (S2)
- Topics in the History of Applied Economics, Béatrice Cherrier, 24h, 4 ECTS (S2)
- Languages :
— English : Public speaking, 3 ECTS
— French : Langue étrangère, 3 ECTS
In addition to the courses, students undertake a research project. This project, supervised by a faculty member (in exceptional circumstances the project may be supervised - with permission from the program director - by a researcher outside the participating institutions) from the associated research centres (i.e., CREST at Ecole polytechnique and ENSAE Paris, i3-SES at Telecom Paris and GREGHEC at HEC Paris), leads to a master's thesis (up to 10000 words).
Master's thesis defenses can take place in June or early July, and in September.
The oral defense includes the supervisor as well a second faculty member acting a jury chair. The master's thesis is worth 20 ECTS.
Admission requirements
Academic prerequisites
Completion of the first year of the Master in economics at Institut Polytechnique de Paris. In exceptional circumstances, students having completed the first year of an equivalent program (in France or abroad) may be directly admitted to the second year of the program.
Language prerequisites
B2 level in English is required.
How to apply
Applications can be submitted exclusively online. You will need to provide the following documents:
- Transcript
- Two academic references (added online directly by your referees)
- CV/resume
- Statement of purpose (should demonstrate that the first year of an equivalent research-oriented master program has been completed or is close to completion)
You will receive an answer in your candidate space within 2 months of the closing date for the application session.
Fees and scholarships
Registration fees are available here
Find out more about scholarships
Please note that fees and scholarships may change for the following year.
Applications and admission dates
Coordinator
Program office
General enquiries
Dates 2025-2026
The Starting day of the master will take place on Monday, September 29th at ENSAE, Palaiseau; useful information will be announced during this meeting.
Courses start at ENSAE on September 30th. Financial specialization courses take place on Mondays at HEC. Courses start at HEC on October 6th.
Christmas and New Year's vacations are from December 20th, 2025 until January 4th, 2026.
The first semester ends on January 14th, 2026.
First semester exams start on January 19th, 2026 and end on January 23th, 2026.
Second semester starts on January 26th, 2026 and ends on April 28th, 2026.
There will be a break from February 28th until March 8th, 2026.
Second semester exams start on May 4th until May 7th, 2026.
Master thesis defenses can take place in July, September (first session) or October (second session).
Location
Courses will be located at ENSAE, 5 avenue Henry Le Chatelier, Palaiseau. For more informations please consult: https://www.ensae.fr/en/access-transports/
Financial economics courses take place on Mondays at HEC, Jouy-en-Josas campus.
Schedule
Please find a provisional version of the second semester schedule here. This document is not fully accurate, and students must check the schedule on Pamplemousse.