Questions about the program
What is the curriculum content like?
Our program is an advanced training program for students who want to become top international level professionals in economics and finance. We prepare our MSc students to apply the cutting-edge knowledge, intellectual and practical skills to tackle real-world challenges through our well-structured combination of theoretical and applied courses in the curriculum, action learning elective courses and mentorship programme.
What is the balance of theory and practice?
Our students get a solid fundamental understanding of economics and finance, and at the same time, they have a wide range of applied electives. These courses are taught by people who work in different areas of industry, finance, consulting etc., and who also have an experience of studying or working abroad. Summer internships in financial institutions as part of the curriculum contribute to students’ getting hands-on experience and developing practical skills.
What research facilities are available to ICEF MSc students?
ICEF pays great attention to research-oriented students and creates favourable conditions for their academic and personal development. In addition to the already intense studies, ICEF offers MSc students a chance to gain even deeper knowledge of Economics and Finance through its ICEF Academia project and Advanced Research Programme in particular aimed at students interested in doing more research during their studies and who consider pursuing an academic career in future.
MSc students benefit from a very vibrant research seminar arranged by ICEF International Research Laboratory in Financial Economics (LFE) and joint research projects implemented by ICEF faculty and enjoy extensive ICT and library facilities.
Can students complete the Master of Financial Economics programme part-time or via distance learning?
No, the Master of Financial Economics programme is full-time only and takes place on the HSE campus.
How busy is the program schedule? What time of day are classes?
The Master of Financial Economics programme is rigorous and intensive to ensure that students have a strong understanding of the fundamentals of economics and finance. Classes generally run between 09:00 a.m. and 6:00 p.m. Elective courses usually run in the evening as they are taught by invited finance practitioners.
Are classes individually driven or team based?
Different classes have different expectations and the teaching faculty will make it clear if you are to work as a team or on your own.
Do MSc students get any support to prepare for CFA?
ICEF compensates for a part of the CFA programme and registration fee to candidates who successfully passed CFA Level 1. Additionally ICEF offers a free course in Practical Finance which helps students to prepare for CFA Level 1 programme.
What is special about the cooperation of HSE International College of Economics and Finance with the London School of Economics and Political Science on a Master level?
The Master’s in Financial Economics has been designed and successfully implemented by the HSE International College of Economics and Finance in collaboration with the London School of Economics and Political Science (LSE) since 2007. With LSE representatives as members of the International Academic Committee which governs the MSc programme the British partner university participates in decision-making processes regarding MSc programme academic issues, incl. selection of faculty, approval and monitoring of the curriculum, assessment methods, examinations and the entire teaching process. The programme meets the standards of UK Quality Assurance Agency for Higher Education which is confirmed by the Letter of Validation signed by HSE Rector and LSE Director and awarded to MSc programme graduates.
What exchange opportunities are available to ICEF MSc students?
ICEF offers its own academic mobility and double degree opportunities (LUISS Guido Carli University, Tilburg University, University of Essex, LSE Summer School) in addition to the exchange opportunities available for all HSE students.
Who teaches ICEF MSc students?
Our diverse team of teaching and research fellows are PhD holders of top-ranked universities of the world and leading experts from financial institutions and consulting services, whose outstanding qualifications meet the highest of international standards.
What degree (diploma) would I graduate with after completing the Master of Financial Economics?
The diploma is a Master Diploma in subject field 38.04.01 Economics (awarded by HSE).
In addition you obtain either a Letter of Validation awarded by LSE or a Master's Dеgrее in Economics and Finance (awarded by LUISS) depending on the international programme track you choose to follow.
When does the MSc programme start?
The MSc programme starts in September.
Questions about admissions
What are the minimum entry requirements to the MSc programme?
To apply for the MSc programme you should have a Bachelor degree or equivalent with concentration on economics and quantitative subjects and at least a year of university level mathematics and statistics.
Who conducts the selection of applicants for ICEF MSc programme in Financial Economics?
The selection of applicants is conducted by the Admissions Committee. The appointments are subject to approval by the International Academic Committee (IAC) of ICEF.
What criteria are taken into account in the first place when selecting students for the programme?
The selection of applicants is conducted by the Admissions Committee based on the students’ portfolio. To participate students should prove the English language proficiency (IELTS ≥ 6.0, TOEFL iBT ≥80).
Students’ portfolio are evaluated against the following criteria: relevant academic background and academic performance, quality of students’ research papers, certified personal achievements (e.g. winners of academic contests), references from an academic supervisor or renowned experts.
Are GMAT and GRE obligatory? Is there a minimum GMAT or GRE?
These exams are not obligatory, but taking them and obtaining high scores can improve candidate's chances of successful application.
Do I need to be interviewed for admission to ICEF MSc programme and how will the results of it be taken into account?
The Admissions Committee may call the candidate for an interview in order to clarify the information provided. Interviews for international candidates are conducted via Skype and last 15-20 minutes. The interview is aimed to ascertain interests, plans for the future and preferences of the candidate. An applicant can be asked with regard to his/her previous academic papers or some questions on Economic theory or Mathematics but only within the minimum requirements for MSc programme applicants. The final decision on the points attributed to the portfolio is based on the interview results.
Is there rolling admissions for the Master in Financial Economics programme?
The Master in Financial Economics programme does not have rolling admissions. Applications will be reviewed after the deadline.
Do I need an undergraduate degree in a particular field in order to apply?
No. We will consider applications from candidates from a variety of backgrounds, although the majority come from economics, mathematics, engineering or statistics.
Do I need work experience in order to apply?
While some applicants may have some experience, this is not a requirement for admission. Most of our students come directly from undergraduate programmes.
Can the TOEFL or IELTS requirement be waived?
All applicants whose native language is not English and who have not received their entire undergraduate education in an English-speaking country must submit scores from one of two internationally recognized assessments of English language proficiency, the International English Language Testing System (IELTS) or the Test of English as a Foreign Language (TOEFL). Test scores are valid for two years.
Questions about tuition and financial aid
Are fellowships or scholarships available to Master of Financial Economics students?
International students can apply to study at HSE for free through full-tuition scholarships. This merit-based scholarship will completely waive all tuition fees for the Master in Financial Economics programme.
The Master in Financial Economics programme offers a limited number of scholarships in cooperation with VTB24 Bank. These scholarships are extremely competitive and students should meet the required criteria in order to be eligible for the scholarship.
Are Research Assistantships (RA) or Teaching Assistantships (TA) available to Master in Financial Economics programme students?
Students enrolled in the Master in Financial Economics programme willing to participate in ICEF academic activities may apply for RA and TA opportunities that may exist at ICEF.
Questions about careers
What is the function of the Career Centre?
The Career Centre helps you through the whole process of your career planning. Here is the link to the Career Centre activities https://icef.hse.ru/en/career.
Other resources include alumni, ICEF Career Kitchen, mentorship programme, and greater ICEF.
What are the ICEF MSc alumni’s employment tracks?
Our graduates successfully work in leading investment banks and other financial institutions in Moscow (Goldman Sachs, Merrill Lynch, JP Morgan, Sberbank CIB, Citi), and in London (Morgan Stanley, Barclays, Credit Suisse), in strategic consulting (McKinsey, Bain) and real economy (Gazprom, Microsoft).
Some graduates opt for an academic career with a PhD programme of such universities as University of California, Berkeley; London School of Economics; University of Minnesota, etc.
What are the employment statistics for the Master in Financial Economics Class?
Almost 100% of 2017 graduates entered the job market joining large Russian and international companies including Sberbank, Alfa Bank, UniCredit Bank, Morgan Stanley, EY, A.T. Kearney, the Bank of Russia, BCG.
