Ph.D. Programme

Length: 2+3 years
Approach: Academic research
Cost: With Fellowship/Grant

The UC3M PhD program in Economics is structured into two parts. The first one consists of the Master’s of Economic Analysis, lasting two years. The second one corresponds to doctoral studies with a duration of three years. Transition from the Master’s to a PhD program depends on high academic performance in terms established by the PhD Administrative Board.

The Master’s in Economic Analysis is research oriented and is taught entirely in English. It is structured into a series of compulsory courses in econometrics, microeconomics and macroeconomics during the first three semesters. In the last semester, students choose three optative courses in accordance with their field of research to develop their Master's Thesis.

To access the UC3M Doctoral Program in Economics, Master’s students must pass three exams ('Qualifying exams') that evaluate knowledge acquired in the areas of microeconomics, econometrics and macroeconomics.

The Department of Economics offers fellowships to those students who carry out teaching tasks as teaching assistants.

Throughout the PhD period, students are dedicated full-time to the completion of their doctoral thesis under the supervision of their thesis advisor. Their training is completed by attending weekly seminars of guest professors to the Department of Economics. The Ph.D. program organizes summer courses on current issues, taught by leading professors in their fields of research who teach at the most prestigious worldwide universities. Likewise, the doctoral program organizes weekly seminars (Reading Workshop) in which students and professors discuss research work in all fields of economics (micro, macro, applied economics, and econometrics). Students also give presentations of their research papers in internal seminars (Ph.D. Student Workshop) for both, fellow students and faculty. In this way they receive feedback to help improve their work while improving their oral communication skills. To facilitate international placement of our Ph.D. candidates, our students are encouraged to present their research work in meetings organized with other doctoral programs belonging to the ENTER network (ENTER Jamboree Meetings) as well as in international conferences. It is also common for our students to carry out research stays at universities in the United States and Europe.

The doctoral thesis will be the compilation of articles that can be published in quality scientific journals. Students in their last year of the Ph.D. program participate in the job market event for doctoral degree holders in economics in which universities, central banks and international public and private institutions participate. See the results of its job placement here.

The Universidad Carlos III de Madrid Ph.D. in Economics is considered one of the best programs in Europe and is ranked 32nd worldwide. In addition, it is a member of the ENTER network (European Network for Training in Economic Research add link here), a cooperative alliance of eight leading European Economics Departments with international doctorate programs: Universitat Autónoma de Barcelona, ​​Free University Brussels, University of Mannheim, Stockholm School of Economics- University of Stockholm, University of Tilburg, University of Toulouse, University College of London, and Carlos III University of Madrid. For further information:


The academic background of applicants must include:

- Master's Degree in Economic Analysis at Universidad Carlos III de Madrid or other research-oriented Master’s degree in Economics awarded by a notable institution.

- Excellent academic record.

- Solid training in economic, analytical and mathematical skills.

- High English level (speaking, reading and writing).

- Suitability of applicant's Ph.D. project to the lines of research of the Economics Department.

As a rule, applicants must hold a Bachelor's degree (or equivalent) and a research-oriented Master's degree in Economics awarded by a notable institution. Applications from former students of Master's Degree in Economic Analysis at Universidad Carlos III de Madrid are given priority in the admission process.

Students with other backgrounds may also be admitted, provided that they meet the requirements of current Spanish legislation to access Ph.D. level studies and that their previous training is deemed equivalent to that of the Master's Degree in Economic Analysis at Universidad Carlos III de Madrid by the Academic Committee. Students who do not meet this requirement are strongly encouraged to apply to said Master's Degree.

For more information about the admission process click on the following link:

Admission Process

more than 200 applications in 2017


international students


publications per year in leading journals


can finance their studies with grants