Length: 2 years (120 ECTS)
Approach: Research
Attendance: On Campus – English Language
Cost: Grants and fellowships

Do you have a strong academic record and a passion for research? Do you wish to develop your studies at the leading edge of knowledge in your field? Would you like to meet international experts in economics research?

If you answered yes, the Master in Economic Analysis is for you. This Master is aimed at students with strong qualifications whose goal is to pursue PhD studies and learn how to produce research of high quality in economics.

Focus on research, this two-year program is undertaken 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 chose three elective courses most adapted to their field of research to develop their Master's Thesis. To access the Doctoral Program in Economics at UC3M, students enrolled in the Master have to pass three exams that evaluate the knowledge acquired in the areas of microeconomics, econometrics and macroeconomics.

The Department of Economics offers a limited number of fellowships that include a monthly stipend, in addition to covering tuition fees. The renewal of the grant is conditional on satisfactory academic performance on the part of the student.

A total of 95% of the graduates from the Master's degree program continue their doctoral studies at prestigious universities. The remaining 5% access the non-academic labor market in research centers, consultancies and international organizations.

The Master’s in Economic Analysis participates in the ENTER network (European Network for Training in Economic Research), a cooperative alliance of eight leading European Economics Departments with international Ph.D. 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 Universidad Carlos III de Madrid.

The department of economics of the Universidad Carlos III de Madrid has received the following award: Notable Mentions - Top 20 Places to Do a Master's” of the 2021 INOMICS Awards


An admission committee formed by members of the department of Economics and faculty of the master studies the applications and make proposals to the direction of the Master in Economic Analysis.

Applications are evaluated in three rounds. Early applications are strongly encouraged and we cannot guarantee vacancies for last deadlines.


Apply now

  1. Where can I get further information?
    For further information please check our information page about our graduate program and the current Student’s Guide . If you have any further questions you can contact us by our form, although we appreciate that you first check the information available in our webpages first.
  2. Which documents do I have to translate and legalize?
    Legalized documents are only required after a formal offered has been made and a prerequisite to register. The particular requirements depend on the country where you got your Bachelor’s degree:
    If the student has a European Bacherlor’s degree, or belonging to the EHEA, there are two possible options:
      - Certified copy of your Bachelor’s degree and Transcripts together with a certified OFFICIAL translation of both documents into Spanish.
      - SET (suplemento europeo al título) or Diploma Supplement. Student may provide a copy of the Diploma and a copy of the Diiploma Supplement (both copies must be certified at the Registrar’s office here on campus, or at any Spanish Embassy). If the Diploma Supplement is provided, you do not need to legalize, nor translate them. THIS IS THE EASIEST OPTION FOR STUDENTS.
    Students from outside the European Union, have to provide:
      - All the documents must be legalized and translatied when admitted to the Master.
      - Certified copy of your Bachelor’s degree and Transcripts together with a certified OFFICIAL translation of both documents into Spanish. Letter from your previous University certifying that you would be eligible in that University for postgraduate studies.
  3. Financial Aid / Funding
    In order to apply for Financial Aid you will just have to select the corresponding option within the Application form. No other document concerning financial aid will be requested during these first steps. If you are finally admitted, you will be contacted for further documents.
  4. Is GRE mandatory requirement to apply?
    GRE is not mandatory, but strongly recommended. As part of the evaluation process for the applications, GRE score provides additional information about quantitvative skills of the applicants.
  5. What are the application deadlines?
    The admission periods can be consulted in the following link. Students who do not receive an offer and whose application is not explicitly rejected are automatically considered in the next round. Students are strongly encouraged to apply early as there are no guarantees that there will be places available in the last period.
  6. Will I receive financial aid if accepted?
    We usually admit students with financial aid in the form of a tuition waiver and a monthly stipend of around 950 €. Continuing financial aid is subject to satisfactory academic progress.
For any other question, send an email


Course 1 - Semester 1

Microeconomics I9CEnglish
Macroeconomics I9CEnglish
Econometrics I9CEnglish

Course 1 - Semester 2

Microeconomics II9CEnglish
Macroeconomics II9CEnglish
Econometrics II9CEnglish

Course 2 - Semester 1

Microeconomics III9CEnglish
Macroeconomics III9CEnglish
Econometrics III9CEnglish
Applied Economics9CEnglish

C - Compulsory
E - Elective
Graduate School of Economics and Political Science