Master of Arts in Economics

The NES master program in Economics is the first NES program created at the Foundation of the School in 1992. This is the program with which NES has gained its reputation. For students who want to work in the scientific field, financial companies and banks, as well as in consulting, analytical and government structures. The cost of the program is 530,000 rubles per year.

Program structure


2 years of study
5 eight-week training modules per year
23 requires courses
13 elective courses of 28 courses to choose from
Master thesis

Program contents

1st year of studies

Fundamental knowledge

The program involves deep development of Macroeconomics, Microeconomics, Econometrics, as well as more specific areas of economic science

High intensity

All courses are compulsory in the first year. The high level of mathematical training of students and the intensity of classes allow to master the concept of economic theory in a short time.

Flexible approach

The program of the second half of the first year of studies contains courses of intermediate and advanced levels, some of which correspond to the level of training of graduate students of the first year at PhD programs in Economics.

Advanced English

Classes are held in the format of "Socratic discussion", aimed at the development of critical thinking and communication skills. Using different rhetorical models, students learn to clearly and convincingly express their thoughts orally and in writing.

2nd year of studies

Elective courses

In the second year of study, the student must choose several elective courses from six General areas of modern economic theory:

  • Theory of Industrial organization,
  • Economics of the Public Sector,
  • International Economics,
  • Economic Development and Growth,
  • Labor Economics and Econometrics.
Program specializations

In addition, the student must take a certain number of courses corresponding to one or more narrower specializations, such as Finance, Data Analysis, Advanced Macroeconomics, etc.

Strong research component

Participation in research seminars and research projects under the guidance of NES professors. Students write two scientific papers-a term paper and a master thesis – and make presentations at the annual student conference of NES.


Program specializations


Asset valuation, corporate Finance, risk management, derivatives, market microstructure, structured products

Economic development

Development Economics, political economy, transition Economics, reform theory, Economics and law

Data analysis

Time series econometrics, microeconometrics, financial econometrics, labor Economics, selected chapters of econometrics

The theory of industrial organization and trade

Industry organization, international trade, contract theory, auction theory, decision theory

Advanced macroeconomics

Growth theory, international Finance, monetary Economics, computational macroeconomics, macroeconomics


Academic program

Academic program

NES educational programs correspond to the best programs in Economics at foreign universities. The highest level of their contents is provided by the international Committee of advisors (ISS) at NES, which includes experts from the London school of Economics, Harvard, Yale, Princeton and other leading universities.

Educational process

The high quality of students training is achieved, among other things, through training in small groups, regular consultations with professors, regular home assignments, as well as current knowledge monitoring. The final grade for the courses is calculated on the basis of work throughout the module. Under the scientific guidance of the school professors, within the framework of the research seminar, students write and defend their coursework and master thesis.

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