Master’s in Economics

Master’s in Economics

General information

Degree:
Master’s in Economics, Mention in Computational Economics
Master’s in Economics, Mention in Behavioral Economics

Duration:
2 years
Courses: 12
Total credits: 52
Academic hours: 2.640

Modality:
On-site.

Schedule:
First year: Monday through Thursday from 17h30 to 20h30.
Second year: Monday through Wednesday from 17h30 to 20h30.

Cost:
$11.000.00
Registration: $1.000.00
Tuititon: $10.000.00

Start of classes:
August 2020

Dates of entrance examination:
August 2019 to June 2020

Description

The Master’s in Economics is a postgraduate program that aims to form professionals with rigorous knowledge of theoretical and empirical advances in the field of economics in Ecuador and the world.

We aim to train professionals that are capable of applying computational and experimental tools to economic and social problems, in order to identify possible institutional improvements.

Our program rests on two methodological pillars: experimental economics and computational economics. This demonstrates our character to be proactive, and not merely critical towards conventional economic approaches. Experimental economics combines the precepts and experimental methods of psychology to, on one hand, understand deviations from the rationality axiom of economics, and on the other, create environments or institutional rules that can be contrasted in an experimentally-controlled framework so as to isolate effects that are less relevant to understanding the phenomenon being studied. Computational economics complements this approach because it permits analysis of silicon economies that reflect the characteristics of real or ideal economies. Experiments can take place at a larger scale under this approach, facilitating the study of processes that are purely macro in nature.

Candidate profile:

This program is aimed at candidates with knowledge and university degrees in the fields of economics, finance, statistics or mathematics, and related topics. Candidates must be disciplined and honest people, who can work independently or in groups in order to meet high academic expectations. Candidates must demonstrate their research aptitudes, including reading academic texts, undertaking academic writing, working with specialized research software, managing archives and databases, and conducting field work, through publications or proven experience as research assistants or independent researchers. Certificates to demonstrate these skills must be presented by the candidates.

Candidates must be totally committed to their education, as reflected in their grades during undergraduate and other postgraduate studies, as well as in the non-academic activities they have undertaken, either in or out of an educational institution. They must also be committed to the socio-economic and technological development of the country, and demonstrate their interest in it. The program is thus a full time endeavor.

Program contacts:

For further information:

Pedro Romero Alemán
Program Director
Telephone: (+593 2) 297-1700 ext. 1276 or (+593 9) 8-4193-832
Office: D-319-F
E-mail: promero@usfq.edu.ec

Santiago Tapia
Postgraduate Coordinator – Admissions
Office: G-100
Telephone: (+593 2) 297-1700 ext. 1824
E-mail: stapia@usfq.edu.ec

Occupational field

Graduates of the Master’s in Economics program at USFQ will be capable of diligently carrying out activities in the following fields:

  • Higher education institutions, as professors or researchers
  • Governmental agencies or technical entities, as researchers and analysts
  • Non-governmental organizations dedicated to research and implementation of policies that solve social problems
  • Companies that manage massive data and demand technical personnel for business analyses
  • In addition, they will be well suited to enter doctorate programs in the best international universities

Program graduates with a Mention in Behavioral Economics will be able to:

  • Identify the psychological foundations of economic agents such as consumers, entrepreneurs, and workers.
  • Analyze bias in decisions related to purchases and sales, investments, savings, intertemporal consumption, health care.
  • Distinguish the heuristics implemented by economic agents to solve problems involving limited rationality
  • Recommend improvements in the economic decisions of agents

Program graduates with a Mention in Computational Economics will be able to:

  • Analyze large-scale simulations using big data or massive data regarding economic and social decisions
  • Model social connectivity between consumers and companies, at both local and international scales.
  • Apply computer programs to improve forecasts of the evolution of aggregate variables
  • Analyze non-equilibrium economic processes in multi-agent systems

Ventajas

The advantages presented by this Master’s in Economics program are:

  • Teaching staff with international education and experience
  • Focus on research with modern and advanced economic tools
  • Specializations in fields made necessary by global competition: behavioral economics and computational economics
  • Access to cutting-edge laboratories for experiments and simulations
  • Integral support to students toward their professional goals
  • Scholarship and financial aid options

Requirements

Basic requirements:

  • University degree from a nationally accredited university, duly registered with SENESCYT, in: economics, finance, statistics, mathematics, or related fields.
  • Demonstrate sufficiency in English equivalent to Level A2 in the Common European Framework
  • Copy of national identity card or passport.
  • Degree certificate with final grade.
  • Official grade transcript.
  • Printed SENESCYT registration of degree.
  • Approve the USFQ postgraduate entrance examination. Please refer to the postgraduate admissions process at USFQ: http://www.usfq.edu.ec/admisiones/admisiones_posgrado

Specific requirements:

  • Present a research proposal or a certificate of research experience (projects used as the undergraduate graduation requirement are not allowed)
    • The proposal must concern a socio-economic topic, be it theoretical or empirical; it must include a research question, corresponding hypotheses, proposed methodology, and suggested bibliography. This document must be 800-1000 words long, not including bibliography.
    • The certificate must prove the candidate’s contribution to research activities; it may be issued by the institution or organization in which the candidate undertook research work, or for which the candidate figures as an author or co-author of research that has been published or made public.
  • Letter of intent (1 page).
  • Two letters of recommendation addressed to the Program Director.
  • Curriculum vitae.

Funding and scholarships

Funding:

The required investment is $11.000, which includes $1.000 for registration and $10.000 for tuition. Registration is paid in two parts at the start of each year (July), whereas tuition is paid at the start of each ordinary semester (4 in total, July and December of each year), according to dates established in the academic calendar.

This investment gives access to USFQ services, to the physical and electronic resources of the library, to laboratories, among others.

Payment can be made in the following ways:

  • Current payments with all credit cards
  • Deferred payments in 3, 6, or 9 months without interest with Banco Pichincha or Banco Guayaquil credit cards
  • By wire transfer, deposit, or cash payment.
  • Educational loan

Further information on registration, tuition, and forms of payment at: http://www.usfq.edu.ec/programas_academicos/posgrado/Paginas/aranceles.aspx

Scholarships and financial aid:

In accordance with the Postgraduate Scholarship Regulations of the program, three half scholarships will be awarded to candidates who expressly request it in their application. The allocation of scholarships will respond to the following criteria:

  • Have an undergraduate grade point average of at least 90/100 according to the scale used by the institution that awarded the degree
  • Quality of research proposal
  • Grade obtained in the program’s entrance examination

Renovation of the scholarship for the second year of studies is contingent on student performance during the first year, with an expected minimum grade average of 80 percent.

The USFQ has a Financial Aid Department for students that require financial support.