Carola Ebert '16 is a Functional Engineer at BearingPoint in Frankfurt.
Read the Eye on Alumni Interview
Manuel worked at the ECB before taking his current position as head of service at the Spanish Treasury.
Read the Eye on Alumni InterviewWhile a thorough understanding of aggregate economy dynamics is necessary for success, it is not entirely sufficient. Organizations must also be knowledgeable of the many sources of aggregate risk and uncertainty, and must rely on the analytical tools available to study the aggregate economy.
Financial and consulting firms increasingly utilize complex economic theories. Students will not only learn how to use these modeling and statistical techniques, but will conduct an independent master's project to learn how to apply these new skills to real empirical work.
A closing conference will be held as an interactive forum between the academic and professional worlds. The presentation and discussion of students' applied work will be combined with expert talks covering both institutional topics as well as the presentation of original academic research.
This program covers economic models such as the dynamic stochastic general equilibrium (DSGE), vector autoregression (VAR), and autoregressive conditional heteroskedasticity (ARCH). Our graduates are prepared with an expert grasp of aggregate economy and financial function fundamentals, able to build macroeconomic and market forecasts - skills that consulting firms, investment banks, and government agencies are all in need of.
Given the applied, quantitative nature of this program, students will need to furnish their own laptop computer.
A limited number of places will be available to practitioners who would like to enroll in specific courses.
Course offer is subject to change.
Students will begin with the necessary general background in macroeconomics, microeconomics, and statistics. These courses will review the fundamental macro models that are commonly used in policy evaluation and quantitative work, and will discuss important concepts and analysis tools in modern equilibrium theory.
| Course Title | Credits | Professor(s) |
|---|---|---|
| Mandatory: | ||
| Macroeconomics | 6 | Francesc Obiols Raül Santaeulàlia-Llopis |
| Foundations in Equilibrium Analysis | 6 | Esther Hauk Hugo Rodríguez Mendizábal |
| Quantitative and Statistical Methods I | 6 | Maite Cabeza Pau Milan |
| Electives (choose from 3 to 6 ECTS): | ||
| Regulation in Financial Markets | 3 | Eudald Canadell |
| Foundations of Data Science | 3 | Omiros Papaspiliopoulos |
Course work will progressively focuses on tools that are relevant for the study of macro policy and financial markets. Students will looking at models of financial economics, applied finance, applied macroeconomics, growth, computational methods, and time series analysis. This engages work on theoretical developments simultaneously with the necessary quantitative techniques to evaluate them.
| Course Title | Credits | Professor(s) |
|---|---|---|
| Mandatory: | ||
| Quantitative and Statistical Methods II | 6 | |
| Electives (choose from 9 to 12 ECTS): | ||
| Financial Economics | 3 | Jordi Caballé |
|
Empirical Macroeconomics |
3 | Javier Fernández Blanco |
| Computational Methods | 3 | Michael Reiter |
| Fiscal Policy | 3 | Luis Rojas |
Students will concentrate on monetary and fiscal policy using specific models, and will continue acquiring expertise in quantitative methods. Students will also submit a final paper on financial regulation.
| Course Title | Credits | Professor(s) |
|---|---|---|
| Mandatory: | ||
| Master Project | 6 | Hugo Rodríguez Mendizábal |
| Policy LessonsPolicy Lessons are shared by all programs in the Master's in Specialized Economic Analysis. Students must choose two Policy Lessons among those organized by any of the programs (Competition, EPP, ITFD, and Macro) | 3 | Gabriel Perez Quirós Joachim Jungherr |
| Electives (choose from 9 to 15 ECTS): | ||
| Monetary Policy | 3 | Davide Debortoli |
| Empirical Finance | 3 | |
| Panel Data and Duration Models | 3 | |
|
Advanced Time Series |
3 | |
| Machine Learning for Finance* | 3 | TBA |
*Prerequisite: "Foundations of Data Science"
The Macro Program brings leading practitioners to campus to speak exclusively to Barcelona GSE students. Speakers include:
Gonzalo Camba-Méndez
Principal Economist, European Central Bank
Gonzalo Camba-Méndez is principal economist at the Economics Department of the European Central Bank. He joined the ECB in 1999 and has worked on various topics in the field of monetary policy, such as the design of the monetary policy strategy of the ECB, the implementation of non-standard monetary policies, the transmission of monetary policy shocks, the evaluation of inflation expectations from inflation-linked financial products, and the analysis of macroeconomic and financial developments in the euro area. He has served as ECB representative at the European Sovereign Debt Markets Sub- Committee of the European Union. He holds a PhD in Economics and has published widely in international refereed journals such as Journal of Business and Economic Statistics, Journal of Applied Econometrics, Journal of Time Series Analysis, and IEEE Transactions on Automatic Control.
Rafael Domènech
Head of Macroeconomic Analysis, BBVA Research
Rafael Doménech is Head of Macroeconomic Analysis of BBVA Research and Professor of Economics at the University of Valencia. He holds an MSc in Economics from the London School of Economics. He was Director General at the Economic Bureau of the Spanish Prime Minister (2007-8). He was also appointed by the Spanish Government as a member of the Expert Committee on the Sustainability Factor of the Public Pension System. He has published numerous articles in well-known international scientific journals on economic growth, human capital, business cycles, and fiscal and monetary policies. His most recent book on the Spanish economy, titled En Busca de la Prosperidad, was jointly written with Javier Andrés.
Atanas Kolev
Senior Economist, European Investment Bank
Atanas Kolev is a Senior Economist at the Economics Department of the EIB. He joined the EIB in 2005 and over the years has worked on a wide range of topics related to investment and investment financing at the firm-, sector- and economy-wide level. He has been an organizer and contributor to the annual economics conference of the EIB on topics such as investment in the energy sector, in adaptation to climate change, public investment and infrastructure investment. Over the past two years, he has been economic editor of the EIB’s Economics department flagship publication on investment and investment finance. He holds a PhD in Economics from Universitat Autònoma de Barcelona.
Upon successful completion of the program, students will receive a Master Degree in Specialized Economic Analysis awarded jointly with Universitat Autònoma de Barcelona (UAB) and Universitat Pompeu Fabra (UPF).
All Barcelona GSE master degrees have been recognized by the Catalan and Spanish Education authorities within the framework of the Bologna Process (in Spanish, “Master Universitario o Master Oficial”). Indicadors de qualitat
Examples of recent professional placements:
Examples of recent PhD program placements:
15 students from 12 countries (80% international)
Most represented countries in this year's Macro cohort:
One student each from Brazil, Bulgaria, Dominican Republic, Egypt, Iceland, India, Mexico, Peru, South Africa, and Turkey
Most common academic backgrounds:
An overview of Macro career paths for recent cohorts (Class of 2016, 2017, 2018)
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