MEF Presentation 2019

Master in Economics & Finance

Institute of Economic Studies Charles University, Prague

1. Institution

University Charles University (UK)

Faculty of Social Sciences (FSV) Smetanovo nabřeží 6 (“Hollar”)

Institute of Economic Studies (IES) Opletalova 26 -3-

University  Charles University  leading Czech university established in 1348  #1 in Central and Eastern Europe (Academic Ranking of World Universities)  #109 in Best Global Universities (U.S. News Ranking in Economics & Business)  more than 42 000 students of diverse fields ranging from medicine to theology  no campus, 140 buildings

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Institute  Institute of Economic Studies  excellence in research & teaching economics and finance (B.A., M.A., Ph.D.)  ~ 300 undergraduate, ~ 150 graduate students, ~ 50% of M.A. students come from abroad  research – #2 in Czechia by RePEc Country Ranking  teaching – #1 in Czechia 2012, 2013, 2014, 2015, and 2016 economics & finance (Hospodarske noviny)

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Program  Master in Economics & Finance  2 years full time, taught in English  demanding program covering theoretical and applied economics and finance  giving space for independent studies but encouraging interaction and team work  prepares for career in: – companies – banking, investment, consulting – institutions – central banks, WB, IMF, EBRD – universities – international academic career -6-

Program  CFA Recognition  first Czech university recognized (since 2013) by the Chartered Financial Analysts Institute  program composition compatible with CFA candidate body of knowledge (70% overlap)  offer scholarships to students for CFA Exams, participate in the CFA Challenge

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Program  ACCA Recognition  Association of Chartered Certified Accountants  all programs recognized since 2017  upon completion of IES students are exempted from ACCA modules F1 – F3

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2. Program

Program  Requirements  Course Work – total of 120 ECTS credits, 30 credits (~ 5 courses)/term  Master’s Thesis – individual project analyzing a research question supported by supervisors

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Year 1 2

Optimal 60 120

Minimum 45 90

3 4

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120 120

Program  Courses  https://karolinka.fsv.cuni.cz/KFSV-1122.html  Core  Advanced Macroeconomics  Advanced Econometrics  Microeconomics of Banking  Banking  Financial Markets  Master´s Thesis Seminar I  Master´s Thesis Seminar II - 11 -

Program  Electives  currently 46 electives covering a wide range of theoretical to applied fields

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    

JEM013 Game Theory JEM017 Business Cycles Theory JEM111 International Macroeconomics JEM007 Applied Microeconometrics JEM027 Monetary Economics

    

JEM034 Corporate Finance JEM044 International Finance JEM142 Banking and Financial Regulation JEM132 Company Valuation JEM137 Real Estate Investment

 

JEB112 Strategic Management JEM114 Topics in Law and Regulation …

Program  Master’s Thesis  independent student project analyzing an interesting research question  assigned faculty supervisor, series of seminars to guide and support students  Thesis Defense  examination committee of 3 members use evaluation reports by advisor and referee  presentation followed with questions from the examination committee - 13 -

Program  Study Exchange  possibility to study one term at a partner university in Europe (Erasmus) or worldwide  financial support from the European Union, administrated by the international office  International Internships  arranged independently by students  we provide administrative support and additional funding

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3. Admission

Admission  Application Deadlines  February 28  April 30  Decision  ~ 1 month after application deadline  admission decision & scholarship offer

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Admission  Steps 1. Application file your application and upload documents in the university student information system (SIS) 2. Scores fill in your scores from past study results, standardized tests and request letters of recommendation in an online form (link emailed upon completion of the application) 3. Fee pay application fee - 17 -

Admission 1. Application  completed application form  copies of diplomas and transcripts of records  curriculum vitae  letter of motivation  scans language & ability tests (e.g. TOEFL, GRE)  letter(s) of recommendation

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Admission 2. Scores  we email you a link to the Supplementary Online Form to fill in your scores: – past study results (GPA) – standardized test of aptitude (GMAT, GRE) – standardized test of language (TOEFL, IELTS)  you invite your professors or supervisors to provide you with a letter of recommendation

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Admission 3. Application Fee  € 25  all applications are processed only after we receive the application fee payment  indicates that your potential interest in the program is serious

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4. Criteria

Criteria  Pre-Conditions  Bachelor’s degree completed before you start studying the program  Assessment Criteria  aptitude (50%) – ability of complex analytical thinking, knowledge of calculus & linear algebra  language (20%) – good command of English (B2), able to read textbooks & write seminar papers  motivation (30%) – demonstrate interest in the program, dedication in studies - 22 -

Criteria  Aptitude  past study results – GPA weighted using (i) program difficulty, (ii) country of studies, (iii) school quality – particular emphasis on quantitative courses in Mathematics, Statistics, Econometrics  standardized tests – GMAT, GRE, etc.

– no strict cut-offs for minimum scores – test scores can only help your application - 23 -

Criteria  Language  standardized tests – TOEFL, IELTS, etc.

– test scores can only help your application  past active use – native speakers – studied in English – worked in English

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Criteria  Motivation  motivation letter – does the letter show you know the program, you can benefit from it in your career?  recommendation letter – do your professors/supervisors think you are competent, creative, driven, diligent, etc.?  extra-curricular activities – how active were you during your studies, were you successful in relevant activities?

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5. Tuition & Scholarships

Tuition  Fee  € 6 000/year  Scholarships  number of merit scholarships offered by the university awarded separately in year 1 and 2  scholarships offered for students who extend their studies  support your application for scholarships provided by international foundations

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Scholarships  Merit Scholarships in Year 1  applicant’s strength based on the quality of his/her application  Merit Scholarships in Year 2  qualifying conditions: – at least 45 credits – at least 4 out of 5 of compulsory courses  ranking based on Adjusted Grade Point Average (AGPA) in the first year: AGPA = MEANSIS – ( (CREDSIS – 60) * 0.025 ) – i.e. one 6-credit course decreases AGPA by 0.15, e.g. 1.85 instead of 2.00 - 28 -

Scholarships  External Scholarships  we support students’ applications for scholarships offered by external foundations  International Visegrad Fund Scholarships – available for Visegrad countries (CZ, HU, PL, SK) and neighbouring countries (BY, UA) – fixed-rate contribution of € 3 000, plus two lump-sum payments to cover the living cost

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6. Career

Career  Financial Industry  management consulting  commercial banking  investment banking  investment management  International Organizations  IMF, WB, EBRD  central banks

 Academia  international universities - 31 -

Career Alumni Letters

“IES was full of very interesting people, the professors or fellow students. I felt stimulated by being in such a distinctive group of people.�

Vladimir Kreidl Associate Partner McKinsey & Company, Prague

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Career Alumni Letters

“I think the Institute provides its students with a useful and comprehensive curriculum. It has an appropriate emphasis on modern economics and quantitative techniques, which I found essential in my subsequent career …”

Martin Cihak International Monetary Fund Washington, D.C. - 33 -

Career Alumni Letters

“IES offers good training in analytical thinking and provides excellent introduction to formal treatment of economic theory… IES succeeds in attracting the most talented students, and thus studying at IES is also a great experience…”

Jakub Kastl Professor in Economics Princeton University - 34 -

Career  Work Permit  non-EU students automatically have the right to seek job in any EU country  this right expires 6 months after the termination of studies  Career Advisory  systematic career advisory to help graduates at local & international job markets  Alumni

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7. Conclusion

Conclusion  Quality  demanding program at recognized university highly regarded among potential employers  Conceptual & Applied  good options for jobs in (i) financial industry, (ii) international institutions and (iii) academia  City  rich cultural and student life, affordable living

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8. Extra Information

Information  University  http://www.cuni.cz/UKEN-1.html  Institute  http://ies.fsv.cuni.cz/content/tree/index/lang/en  Video  https://www.youtube.com/watch?v=2EXWORU HQHI

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Information  Application  http://fsveng.fsv.cuni.cz/FSVEN-138.html  Supplementary Online Form  http://prijimacky.fsv.cuni.cz/index.php  Scholarships and Funding  http://fsveng.fsv.cuni.cz/FSVEN-111.html

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Information  Prague  http://www.prague.eu/en  1.2 mil. inhabitants  UNESCO protected over 1100 years of history  one of the most visited cities in Europe

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Information  Accommodation  https://www.bezrealitky.cz/  Groceries  https://nakup.itesco.cz/groceries/  Public Transport  http://jizdnirady.idnes.cz/praha/spojeni/  Events  http://www.expats.cz/entertainment/?Nav

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Cost of Living  Accommodation  student dorms ~ € 75/person & month  shared apartment ~ € 250/person & month  Services  lunch in a restaurant ~ € 5  public transport ~ € 8/person & month  Groceries  affordable for a medium-large European city

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Information  Contact Email  admissions@fsv.cuni.cz

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