International and Monetary Economics

A comprehensive understanding of monetary policy, financial markets and their regulatory environment constitutes the core of this Master’s program, particularly designed for students with a strong background in quantitative economics. In the context of growing economic globalization, international issues regarding monetary policy and macroeconomics in general are becoming increasingly important. This is particularly the case for small open economies such as Switzerland, a substantial portion of whose income is derived from the export of goods and services as well as from capital earnings. It also applies to the growing integrated market of the European Union, to many emerging economies as well as to large mature economies (such as the U.S.) that are more affected by international developments today than they were in the past. As domestic aspects become relatively less important, it is essential to the economic wellbeing of many countries that competent specialists are trained to focus on aspects of international economics. Especially the recent financial crisis and its effects on economies throughout the world demonstrate how important an efficiently functioning monetary sector is for today’s global economy.

In the field of academic activities described above, the skills to be acquired are clearly outlined. Graduates of the MIME Master’s programme should

• understand the role of central banks and banking supervision for macroeconomic stability; in particular, with regard to the system’s international embedding;
• understand the role that central banks, banking supervisory and regulatory bodies, as well as private investors (commercial banks, institutional investors etc.) play in the international financial markets;
• have gained the competence to prepare or assess monetary policy decisions based on optimal academic criteria;
• be acquainted with the historical background of international economic developments;
• know the approaches to monetary policy and financial market regulation;
• be equipped to reflect and comment on policy discussions and issues in this context.

The MIME program is not to be seen as competing with the standard Master’s program in Economics, which both participating universities (Basel and Bern) will continue to offer. It should rather be seen as a supplement for students who, subsequent to obtaining their Bachelor’s degree, wish to specialize in the fields mentioned above and gain greater knowledge of quantitative aspects and who, perhaps, envisage doing a doctorate. To get admitted to this Master program, it is essential to provide deep and profound knowledge in Economics (Bachelor with a Major in Economics) and Quantitative Methods.

The advantage of this study program is that it trains qualified specialists in a specifically customized field of monetary economics that is increasingly sought after not only in Switzerland but also in the international arena.

The study programme entails achievements totalling 90 credit points of the European Credit Transfer System (ECTS) and a statutory period of study of three semesters. Part-time study increases the duration of the programme accordingly. One ECTS credit point roughly equals 30 hours of studying.

Combination of subjects

There is no possibility to combine this Master with other Master programs.

Career opportunities

Graduates of this Master’s degree would typically seek a professional career opening in the following areas: Macroeconomic analysis with reserve banks and commercial banks, Public authorities (e.g. finance or tax administrations), Financial markets supervisory bodies, Media communications, Expert groups of political governing boards or international organizations, Academia.

• Proof of completion of a Bachelor degree (180 ECTS) earned from a Swiss University, showing good knowledge in quantitative methods with one of the two following qualifications:

A) Bachelor qualification in the field of economics or in economics sciences with a Major in economics and a minimum final grade of 5.0 (unrounded);

B) Bachelor qualification in a discipline associated with economics sciences (content, methodology) and a minimum final grade of 5.0 (unrounded) as well as a test result in the GMAT-test or GRE-rest in the upper range of performance (i.e., a result achieved by the top 20% of candidates).

• Proof of proficiency in English at Level B2 of the European language portfolio. This proof must be provided prior to admission to the Master’s program. 

The University of Basel currently collects CHF 850 in tuition fees per semester, along with CHF 10 for the student body.

Please note that there are also costs for books and, of course, your personal living expenses. The following list provides a general indication of monthly living expenses if you are not living at home with your family.

Rent (room, shared living space, student dormitory)
Minimum: CHF 400; Average: CHF 600

Food, household, clothing
Minimum: CHF 450; Average: CHF 600

Insurance/healthcare
Minimum: CHF 200; Average: CHF 300

Transportation
Minimum: CHF 60; Average: CHF 90

Learning materials
Minimum: CHF 100; Average: CHF 150

Tuition Fees
CHF 140

Recreation/culture
Minimum: CHF 150; Average: CHF 220

Total
Minimum: CHF 1500; Average: CHF 2100