The Master in Economics is a two-year research master, entirely taught in English, that offers advanced training in economics through coursework and supervision by faculty. It bears a strong emphasis on quantitative economics, and consists of the first two-years of a five-year PhD program. Completion of the Master in Economics prepares students to the research part of the Ph.D. program. It is thus intended for students with a strong desire for research in quantitative economics.
The program heavily relies on advanced quantitative methods for both theoretical and empirical analysis. During the first year, students take an introductory course in mathematics and statistics and advanced core courses in microeconomics, macroeconomics and econometrics. They also engage in research projects individually or in small groups under the supervision of faculty and acquire a first hands-on contact with research. During the second year, students can specialize within subfields of economics (finance, games and decision theory, industrial economics, macroeconomics, international economics, public economics, labor economics, and econometric theory). By the end of that year, they should be familiar with the research frontier within their main area of specialization and have gained successful research project experiences. They also start writing a research paper (master thesis of about 5,000 to 10,000 words) under the supervision of a faculty member.
The goal of this two-year program is to provide an advanced training in economics at the highest international level with a strong emphasis on advanced quantitative methods for both theoretical and empirical analyses.
In the first year, students get acquainted with the most important analytical techniques used in economics. The training is mostly devoted to acquiring the most important tools in microeconomics, macroeconomics and econometrics through a complete core course training, as well as completing a research internship.
During the second year, students can specialize within a sub-area of economics such as financial economics, markets and industrial organization, labor economics and public policies, political economy and public finance, data science and econometrics, macroeconomics, international trade and globalization, economic theory, game theory and decision sciences.
Advanced core courses in micro, macro and econometrics as well as a wide range of field specialization courses designed to allow students to acquire specialized knowledge in different domains of current economics research are offered., Throughout the second year, students conduct a research project and write a master’s dissertation under the direction of a faculty member.
First Year (M1)
- Preparatory course in Mathematics, Probability, and Statistics. 48 hours, late August and early September.
First semester (S1): Mandatory courses :
- Microeconomics 1: Individual decision-making and market equilibrium, 6 ECTS, 12 weeks, 4 hours of lecture + 1.5 hours of exercises each week.
- Macroeconomics 1: Economic Growth, 6 ECTS, 12 weeks, 4 hours of lecture + 1.5 hours of exercises each week.
- Econometrics 1: The Linear Regression Model and Extensions, 4 ECTS, 12 weeks, 2 hours of lecture + 2 hours of exercises each week.
- Introduction to Time Series Econometrics 2 ECTS, 12 weeks, 1 hour of lecture + 1 hour of exercise each week.
Second semester (S2): Mandatory courses :
- Microeconomics 2: Strategic Interactions and Information, 6 ECTS, 12 weeks, 4 hours of lecture + 1.5 hours of exercises each week.
- Macroeconomics 2: Business cycles, 6 ECTS, 12 weeks, 4 hours of lecture + 1.5 hours of exercises each week.
- Econometrics 2: Nonlinear models, qualitative data, and panel methods 4 ECTS, 12 weeks, 2 hours of lecture + 2 hours of exercises each week.
- Introduction to Machine Learning 2 ECTS, 12 weeks, 1 hour of lecture + 1 hour of exercise each week.
- Research internship 12 ECTS, 12 weeks.
Second Year (M2) :
Advanced Methodological Courses for PhD (36 hours, S3 & S4, 6 ECTS):
- Advanced Micro
- Advanced Macro
- Advanced Econometrics
Core field courses (18 hours, mostly S3, 3 ECTS): (This list is indicative and is subject to change).
- Statistical Methods of Econometrics
- Experiments in Economics and Social Sciences
- Financial Econometrics
- Corporate Finance Theory
- Banking and Financial Intermediation
- Asset Pricing, Liquidity and Market Imperfections
- International Trade
- Economic Geography and Urban Economics
- Labor Economics
- Microeconometric Evaluation of Public Policies
- Theory of Industrial Organization
- Empirical Industrial Organization
- Public Economics
- Theory of Contracts and Incentives
- Monetary Economics
- Structural Macroeconomics
- Political economy
- Public Finance
- Environmental Economics
Research courses (12 hours, mostly S4, 2 ECTS) : (This list is indicative and is subject to change.)
- Dynamic Statistical Model with Hidden Variables
- GARCH and Stochastic Volatility Models
- Machine Learning for Econometrics
- Structural Econometrics
- Social Choice and Voting
- Decision Theory
- Dynamics of Information and Communication in Games
- Advanced Decision Sciences
- Econometrics of Commodity and Asset Pricing
- Asset Pricing
- Digital Currencies and Blockchain
- Market Microstructure
- Firms in a Global Economy
- Randomized Methods and Policy Evaluation
- Economics of Education and Human Capital
- Development Microeconomics
- Urban Labor and Housing Markets
- Consumer Economics and Pricing Strategies
- Economics of Energy Markets
- Information and Expectations in Macroeconomics
- Topics in Behavioral Political Economy
Dissertation (20 ECTS)
- Ph.D. in Economics at IP Paris or in other international universities
- Consulting firms
- Government agencies
- International organizations
INVOLVED IP PARIS LABORATORIES
- HEC Paris
The internship program at the end of the first-year gives students an opportunity to apply their quantitative skills and knowledge to real-life problems at well-known national and international institutions, companies, and organizations. Examples of such institutions having hired interns in the past include BNP-Paribas, EDF, Lafarge, the IMF, the World Bank, the OECD, DG Trésor, etc. Our department also has long-term research partnerships with EDF, AXA, Deloitte, Société Générale, etc.
- Admission to the first year (M1) of the master’s program: applicants are required to have completed a BA in economics, mathematics or social sciences (or the equivalent) at the start of the M1
- Students who have completed the first year of an equivalent program may exceptionally be directly admitted to the second year.
- A certificate of competence in English (TOEFL, IELTS, TOEIC, Cambridge ESOL) Level B2
(Students who studied in English speaking Colleges are exempted).
List of documents to provide:
- A CV
- A photocopy of your ID
- A photocopy of your transcripts (Translated into English or into French for foreign candidates)
- A GRE certificate is strongly recommended. This allows students to demonstrate the strength of their quantitative skills
- A certificate of competence in English (TOEFL, IELTS, TOEIC, Cambridge ESOL)* (Students who studied in English speaking Colleges are exempted)
- A cover letter
- Two reference letters