Letter from the Director Dear Prospective Student,
In the last three years, our thinking about economics – what the key problems are, and what we as a profession know about them – has probably changed more fundamentally than in the thirty years before. Financial markets can “get it wrong” on a gigantic scale, with negative consequences for growth and unemployment. Central banks are running out of ways to stimulate the economy. What most economists used to think of as Third-World-style economic crises are now a real threat in developed countries – bank runs and a real danger of sovereign bankruptcy included. At the same time, many emerging economies are thriving. Beyond the newspaper headlines, however, billions of citizens in the developing world continue to live in severe poverty. The Master in International Trade, Finance, and Development (ITFD) is aimed at young men and women who want to think deeply about these issues. The program combines analytical rigor with a focus on policy. We offer students the opportunity to specialize in development or in international trade and finance by providing a broad range of electives. The master prepares students to work in international development organizations, in government agencies, in NGOs, and in the financial sector. It also offers a stepping stone to students wishing to pursue doctoral studies. Faculty are renowned internationally and have outstanding academic records. In addition to standard classes, we invite leading policy experts with real-world experience, such as Simon Johnson (former Chief Economist of the IMF), Eduardo Levy-Yeyati (former Head of Emerging Market Research at Barclays), and Xavier Sala-i-Martin (Economics professor and founder of NGO Umbele) to teach policy classes. These classes give a flavor of what it takes to apply economic analysis in real-life situations, whether it is in designing bail-out packages, in devising trading strategies, or in helping children in Africa. Applicants to the master should have an excellent academic background. You should be excited about economic questions, and care deeply about the challenges to stability and prosperity the world faces. In exchange, we offer a challenging and innovative program, taught right in the center of Europe’s most stunning metropolis – Barcelona. If you feel that this could be you, please get in touch. We look forward to welcoming you next year. Prof. Fernando Broner
Director, International Trade, Finance, and Development Program
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