Economics was heavily criticized after the Great Recession that hit the world more than 10 years ago. Can this field bring us closer to understanding and predicting economic processes? Isn’t it an old, boring field? We, the team of the MSc program of Economic Analyst believe it is more interesting and exciting than it has ever been. Corvinus is proud to offer Hungary’s one and only Master’s in Economic Analysis program.
The Master program in Economic Analysis is among the flagship programs of the university that was renewed immediately after the transformation of Corvinus, in strong collaboration with the Magyar Nemzeti Bank, the Central Bank of Hungary. To ensure that the result is an internationally well-recognized and competitive program, experts and professors with foreign expertise and teaching experience were invited to the team responsible for the development. We already had a blogpost about the foundations and ideas the new program is built on, so let’s talk about why students should choose this program!
The main reason is that it covers the essential tools that make you an economist! Our main goal is to teach you how to do real-world economic analysis. For this, we do a lot of data analysis with modern statistical tools but also economic theory to understand processes that take place in economic systems.
The program starts with a 2-week long pre-session sequence in mathematics and statistics. This makes sure that you have the basic toolkit for your studies, and you will not get lost in the Maze of Methodology. After the pre-session courses, you will learn Advanced Microeconomics, Advanced Macroeconomics, Data Analysis and Econometrics. These subjects provide students with a solid foundation both in economic theory and data analysis.
After the second quarter, you will have to choose a specialization: Firm and Market Analyst or Macroeconomic Analyst. The first studies corporate policy such as market regulation, methods to increase firm efficiency and the impact of the ownership. The Macroeconomic Analyst focuses on issues like the role of monetary and fiscal policy and many macro policy-relevant topics, such as asset price bubbles, regulation of the banking system and how the economic policy changed after the crisis. None of the two specializations are better than the other, they differ only in approach. You will learn from leading practicing experts of the chosen specialization, many with international experience and/or PhD from leading universities.
It is important that all our courses have a strong practice-orientation and data driven empirical focus. You will not only learn the formulae, but also their use – the presence of practicing lecturers ensures that you will learn what really is used.
Lecturers and professors
You will get the chance to learn from those who are among Hungary’s best in their own area of expertise. Many lecturers are respected colleagues and leaders of the Magyar Nemzeti Bank, the Central Bank of Hungary, tackling professional challenges on a daily basis – to learn from them is a unique opportunity. Also, many lecturers have a long track of university teaching and produce internationally recognized research.
Practice-oriented, lifelike assessment
We think that it is important to ask you to do multidimensional tasks. We try to reduce the weight of the exams in assessment and introduce other assignments such as essays, data analysis and presentations. You will examine case studies based on real events, try to find a suitable policy response, either at micro or macro level. Group assignments are also very important, since analysis and policy work are usually done by teams, not isolated individuals. You will have a project course where you have to solve a complex economic problem in team with your fellow students. You will also write your thesis – you will have to find your own topic and we will guide you to develop it into a good thesis.
Our program hones many skills. You will learn statistical software (R, Stata and Python) – this will bring you as close to being a data scientist as possible in a non-data-science program, as you will know how to handle, analyze and visualize data. You will learn about the newest trends and results in microeconomics and macroeconomics. You will develop critical thinking and seek empirical evidence behind every question – and most importantly, you will have the toolkit to analyze the data! You will also learn how to write an academic paper, policy brief and a proper thesis, and in addition, how to prepare and deliver a professional presentation. And, you will work in teams which is essential for your career.
The knowledge we provide can be used in many jobs. You can become analyst at ministries or other government institutions (such as central banks, the competition authority), consulting forms (Big4, McKinsey), market research companies (such as Nielsen) or smaller companies dealing with data analysis. The very best of you can even apply to international organizations such as OECD or pursue an international PhD! We give you all the tools and means necessary – what you do with them, is up to you!
If you are a citizen of a non-EU country, you are probably eligible for the Stipendium Hungaricum Scholarship. This scholarship is a unique opportunity as it covers the tuition fee, accommodation, health insurance and even some money for daily expenses. Sounds good, right? To check if you are eligible, please visit the official website here. Pay special attention, as the application closes on 16th January 2021!
Make sure to visit our website, and apply to our Economic Analysis MSc program!