International Trade, Finance and Development

International Trade, Finance, and Development is a demanding master program that combines rigorous analytical training with a focus on policy.

We give students a research-based view of subjects crucial to understanding today's market, designed to equip graduates with the core theoretical and analytical roots needed to solve the toughest challenges of today's globalized economies.

What can be done to avoid financial crises? How can growth in the least developed countries be accelerated? How can wealth be distributed equitably and sustainably? This program will allow students to acquire a thorough knowledge of the conceptual and empirical tools of modern Economics applied to international trade, finance, and development.

Tailor your program to fit your interests and goals

The program starts in the first term with a set of courses on economic growth and development, international trade and finance, and quantitative methods. In the second and third terms, students can choose from a wide array of courses and tailor their learning experience to their interests. Some students chose to specialize in development, others in international trade and finance, while others opt instead for a more balanced approach that combines training in both areas.

Students complete an independent study project by the end of the academic year, allowing them to specialize in a policy topic of their choice. They also attend a series of policy lessons delivered by international experts.

Study with experts from academia and international organizations

The master's faculty consists of internationally renowned scholars who have previously held academic positions at MIT, NYU, Chicago, Berkeley, Stanford and Cambridge. They have also worked or held consulting appointments at international organizations, including the World Bank, the IMF, the Inter-American Development Bank, and the European Central Bank.

Alumni choose from a world of career paths

Past ITFD graduates have found employment in international organizations, government agencies, central banks, financial institutions, research and consulting firms, and NGOs.

Several past graduates have decided to pursue further studies and have joined prestigious PhD programs in Europe and the United States, including the London School of Economics, Stanford University, and Harvard University.

Skills Acquired

• Gain a thorough understanding of the economics of international trade, finance and development
• Build an in-depth knowledge of the analytical tools of modern economics
• Receive extensive training in econometric and statistical methods
• Acquire the ability to apply theoretical and empirical tools to address pressing policy issues

Addressed to

• Graduates with a strong quantitative background from all fields, particularly Economics, Business, Engineering, Political Science
• Junior professionals from private firms, research centers, central banks, financial institutions, the civil service, and NGOs
• Aspiring PhD students looking for a solid foundation in the theory and empirics of international trade, finance, and development

Prospective Employers

• Banking and Financial Institutions
• Research Institutions and Consulting Firms
• Non-government Organizations (NGOs)
• International Organizations
• Governmental and Regulatory Agencies

The entry criteria for applicants are:

• An Undergraduate/bachelor/grado/laurea, or equivalent degree from an accredited college or university (for Bologna degrees, a minimum of 180 ECTS are required).
• A typical applicant would hold a University Diploma in Economics, Finance, Engineering, Mathematics, Statistics or Business Administration. See our Student Profile for more detailed information.
• An advanced level of English language skills: TOEFL 90 and IELTS 6.5
• GRE exam is mandatory for the Data Science Program and highly recommended for those applicants to the Economics Program who want to be considered for the UPF PhD program (GPEFM).

Note that the fulfillment of the minimum entry requirements does not guarantee admission. Candidates will also be evaluated on the following admission criteria:

• Outstanding academic record
• Quantitative skills
• Reference letters

The Barcelona GSE is able to offer tuition waivers and fully-funded scholarships based on academic merit.

The financial aid that is available to students includes:

• Fully funded scholarships

• Waivers for 100%, 75%, 50% and 25% of tuition fees

• Teaching assistantships

Financial aid will only be awarded to candidates that have an outstanding academic record. All candidates will automatically be considered for any available financial aid when they submit a completed application for a master program. 

While applications are open every year until June 25, preference in funding will be given to candidates who apply before January 15. 

In the Class of 2016, 34% of students were awarded with scholarships or tuition waivers.

Master degree awarded

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”).