International Economy and Business Program

The International Economy and Business (IEB) program is a two-year, English-language Master’s program which has been ranked at No.4 by Bestmasters.com. It aims to make students master the most important competences in economics and business studies. We are looking forward to receiving applications from students who are interested in international business and/or economic studies and who wish to gain both practical skills and theoretical knowledge once they have completed their studies. The program has an interdisciplinary structure: the courses cover fields from international business/economics to international politics. After the foundation courses, students specialize in International Economic Analysis or in Comparative European Economic and Business Studies or in International Development. The program lists students with different cultural backgrounds and, therefore, offers an international atmosphere. Students who have completed this programme have either ended up working in the business sector (IBM, KPMG, Ernst and Young, Morgan Stanley and Prezi etc.) or continued their studies on the PhD level (CEU, University of Melbourne, University of Minho etc.) or been working for an international organisation (OECD, EU, UN etc.). 

(1) International Economic Analysis Specialization

The International Economic Analysis specialization of the M.A. in International Economy and Business program provides a thorough study and understanding of the world economy, focusing on the economic, but also the political foundations and characteristics of the micro (i.e. companies), macro (the state) and international (NGOs and international institutions) level of interactions. A special emphasis is devoted to the strengthening of intellectual abilities and analytical skills of students widely applicable in both the business and the public sectors. The aim of the specialization is to make students equipped with all the relevant concepts and methods of and also the necessary tool-kits for analyzing trade, development, management, etc. in a comparative perspective. Policy areas of a wide range from development policy to social policy will be reflected upon. With a Master’s diploma offering a specialization in International Economic Analysis, students will find prosperous career opportunities at multinational corporations, the banking sector, development agencies, NGOs and also international institutions and organizations such as the United Nations for instance.

            The specialization has been strongly built upon the already acquired knowledge of the first year. Each of the six specialization courses addresses both the general and the particular aspects of the world economy and the international community. The spirit of the courses are strongly embedded in the international political economy paradigm – that is, the specialization does not require mathematical or statistical skills, instead, it aims at putting together several disciplines with the aim of gaining a comprehensive understanding of the work of multinational companies, international institutions and governments.

(2) Comparative European Economic and Business Studies Specialization

The Comparative European Economic and Business Studies Specialization (shortly: EU Specialization) of the M.A. in International Economy and Business program gives a comprehensive overview on European integration issues. The courses of the specialization focus on macro and micro economic levels of integration – the regulatory frameworks, the implementation and business-level activities are also analyzed. The students will get clear background knowledge on how the EU policies are working in practice. We will analyze the decision making processes within the European Union: the role of different EU institutions and member states’ actors will be highlighted. During the one year specialization we will concentrate on the recent processes and the actual problems in the European Union.

The EU specialization explains the objectives and operation of EU level policies. In each case we analyze the regulatory background, the implementation in practice, and evaluate impacts on economic policies and business activities.  Especially, we focus on those issues which can influence the competitiveness of the European economy (like Lisbon Strategy, technological gap and R&D issues, knowledge-based economy and society, employment problems, social policy issues). We particularly concentrate on regional development issues – both at regulatory and practical (project) levels. We analyze the impacts of Structural Funds and Cohesion Fund supports on development of the backward regions. Through case studies, we gain some experience from the catching up process of the old less developed EU member states. We analyze the preconditions of successful absorption of EU transfers, like institutional background and budgetary issues. Our aim is to research and understand the methodology of efficiency measurement of the cohesion policy system of the EU, and to analyze the development policy and practice of a member state or EU region.

(3) International Development Specialization

This specialization has the focus, on the one hand, on developing countries, their problems and challenges (as for instance, poverty, starvation and environmental damages), and, on the other hand, on basic theories, approaches and concepts of development (as for instance, underdevelopment, growth, industrialization, etc.). Besides giving students a firm theoretical background, the specialization puts emphasis on the analysis and the evaluation of the relations of economy and social policy, on the comprehensive introduction of the process of globalization, as well as on the description of international organizations that play an influential role in development policy. Besides developing the analytical skills of students, the specialization gives room to illustrate the historical and institutional context of development. The specialization further stresses the importance of paying attention to the dimensions of human worship, freedom and welfare and to the human-centered approach to development.

Successful completion of the specialization gives students expertise to build a career in the private sector (first of all, as a consultant), as well as in the public sector, in government offices (for instance, at the Development Agency), in intergovernmental offices, and at international organizations (as for instance, at FAO, UNICEF, UNCTAD and the WTO) and at non-governmental organizations (NGOs). The specialization prepares students for doctoral studies as well.

1, A Bachelor’s degree

Applicants are required to present an authenticated copy of at least a BA/BSc degree both in the original language and in English, as well as an official copy of the transcript of their studies. Graduating students need to send their certificates after the defense of the thesis work.

2, Successful entrance exam

3, Language requirements

The English-language skills of applicants are tested both in the written and the oral parts of the entrance exam and, therefore, a certificate proving the English-language skills of the applicants is not required to be enclosed in the application package.

Entrance exams to the Master’s Programs consist of the following two parts:

a. Written part: An essay to be sent via E-mail

Applicants are expected to do a case-study analysis on general social and economic topics so that they provide an independent, logically founded and professionally defendable standpoint on the issue in question. Applicants in the analysis are expected to use concepts and methods of the economic literature profoundly. The purpose is to see how well-informed applicants are in political and international issues, as well as to measure their theoretical knowledge and analytic skills.

b. Oral part: A telephone or Skype interview

The purpose of the interview is to measure applicants’ verbal competences, as well as to learn about their motivation for joining a program. Interviews are evaluated, among others, on the basis of how successful applicants are in communicating their ideas, what career plans they have in mind or how they think they can benefit from the Master’s program in order to meet their future goals.