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Some Great Features of the Double Diploma Bachelor’s Programme

1) Two diplomas in four years from the leading economics institutions of Russia and the UK, giving you world class credentials in Economics and Finance

2) One of the best BSc programmes for training world-class economists and preparing them for a successful career

3) A world-class, international teaching faculty

4) Learn using the latest study methods – in English

5) Gain experience of another culture, and learn another language

6) Be part of a talented and ambitious student body

7) Experience a unique and international university atmosphere that promotes collaboration between students, teachers and researchers

8) Receive a double degree of the highest international calibre

9) Enjoy a vibrant student life full of socialising, incredible initiatives and the exchange of ideas

10) Study at a College whose graduates are internationally competitive – both to continue their academic pursuits and to start out in the world of work

11) Don’t worry about fees; various forms of financial support are available to ensure that the best applicants have access to the programme, irrespective of their family’s income


1) Two diplomas in four years from the leading economics institutions of Russia and the UK, giving you world class credentials in Economics and Finance

Studying at ICEF on the double degree Bachelor’s Programme represents a unique opportunity to receive a higher education in Economics and Finance from two universities at the same time: the London School of Economics (LSE), University of London, one of the leading centres for Economics in the world, and the Higher School of Economics, a National Research University and one of the top Russian institutions. ICEF’s educational programme, at both BSc and MSc level, is the only full-scale academic curriculum in Russia that is monitored by the LSE.

The double degree programme allows its students to gain more insight into the economics profession and a broader university education than any course in a normal faculty of economics. Accordingly, its graduates are more attractive employees for multinational companies and major banks, and better placed to continue their studies, giving them a strong foundation on which to build a successful career in the fast-changing global world. The double degree gives its graduates a better chance moving forward.

Studying on the University of London’s International Programme, students receive a degree with five possible class grades, depending on their attainment. More than 40% of ICEF graduates receive a First Class or Upper Second degree – the top two grades – which leaves them ideally placed to continue on to postgraduate study at leading universities or to work for the top companies in the world. ICEF graduates can apply to leading Master’s and PhD programme in Europe and North America with no further preparation: each year, up to 30% of BSc graduates continue on to postgraduate study at top international institutions. Many are offered scholarships from leading universities - further proof of how highly ICEF’s top graduates are thought of.

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2) One of the best BSc programmes for training world-class economists and preparing them for a successful career

ICEF offers its students a unique curriculum, based on an integrated plan of study for students of economics at the LSE and the HSE, and drawing on the best Russian and British academic traditions. The double degree programme ensures the in-depth professional training unique to the British system (including courses in Economics, Mathematics, and other specialist areas) alongside the breadth traditionally provided by a Russian university education.

The Programme at ICEF includes:

1) Core topics for any modern economist: Macroeconomics, Microeconomics, Mathematics, Statistics, Econometrics, Accounting and Corporate Finance

2) Specific courses for each of the six available specializations: Banking & Finance, Economics & Management, Economics & Finance, Economics, Accounting & Finance and Mathematics & Economics

3) A wide range of electives, not necessarily connected to Economics, to ensure that students graduate as well-rounded and educated individuals

One of the most important aspects of the programme is that each student can choose their path of study for themselves, which helps them to tap into their interests and abilities.

From the second year, each student can construct up to half of their curriculum for themselves. Out of the twelve modules in which students sit UoL exams, six are compulsory and six can be freely selected. In years 2-4, the flexible elements of the curriculum accounts for around half of the total number of required credits.

Students may choose specific subjects in Financial Economics as one of their electives; courses in Applied Economics and a range of Humanities subjects are also available. Moreover, students can take a huge variety of courses at other faculties that have agreed to their registration. The choice is become increasingly wider thanks to the expanding curriculum of both the College and the entire HSE.

Studying as part of the College’s international academic community, students also have the opportunity to develop soft skills such as communication and teamwork, which will help them in any future sphere of activity. As well as obtaining knowledge, they learn to critically look at and analyse the world, think for themselves, and express their ideas logically and persuasively, whether orally or in writing. What nurtures these skills more than anything else is the creative atmosphere of the College, and the dynamic student life outside of the classroom, which includes a whole host of different projects.

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3) A world-class, international teaching faculty

Over the past decade, ICEF has gathered together an impressive faculty, whose core is made up of teaching staff with internationally recognised qualifications. All of ICEF’s teaching staff have doctorates from the best universities in Europe and North America. The College’s teachers are selected and evaluated on the basis of both standard Russian and international procedures and more demanding international ones by the International Academic Committee (IAC), whose members include representatives of the HSE and prominent LSE academics. Faculty members are not only recruited on the basis of their international degrees and academic ranks; the Committee also assesses the extent of their teaching abilities, research achievements, professional experience and their ability to present material creatively to students.

Moreover, ICEF’s faculty also includes Visiting Teachers from the LSE, Oxford, the HSE, the MSU Lomonosov, the Russian School of Economics and representatives of the business community. Holders of doctorates run specialised and advanced courses in Economics and Finance. The international standing of the ICEF teaching staff is reflected each year by their participation in leading global conferences. These include:

Econometric Society World Congress, American Economic Association Annual Meetings, European Finance Association Annual Meetings, World Finance Conference, Royal Economic Society Annual Conferences, and many others.

Members of the Faculty often publish their work in prestigious research journals, including:

Journal of Banking and Finance, Journal of Economic Behavior and Organization, Journal of Empirical Finance, International Journal of Industrial Organization, Journal of Comparative Economics, and many others.

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4) Learn using the latest study methods – in English

One of the most attractive aspects of ICEF is that all studies and interaction between students and staff are conducted in English – the lingua franca of economists the world over. Students on other programmes might study English – but only ICEF students study in English.

Consequently, studying is much easier: more books, articles and electronic resources are being made available to students, and it’s much easier to make connections with ICEF staff and visiting teachers. ICEF students have both the Russian and English academic resources of two universities – and two cultures – at their disposal. At ICEF, lectures are interactive – students are encouraged to ask questions and engage with their teachers.

ICEF uses modern learning methods accepted the world over (including at the LSE), which are based on independent work, the availability of IT resources, and one-on-one interactions between students and teachers. The importance of independent work is strongly emphasized, as it gives our future specialists in-depth knowledge and encourages them to take the initiative – as well the ability to analyse and assess information themselves. Independent work can includes:

· Regular written assignments, which receive individual commentary from teachers

· Essays – around 10 each semester per subject

· Research seminars in which students and teachers work collaboratively

· Tutorials outside of classroom hours

At ICEF students learn not only from their teachers, but also from the international academic atmosphere here, which is based on the best traditions and values of both the Russian and British university systems. Some of these include:

· Intellectual freedom and an environment that fosters self-realisation

· A commitment to the highest academic ideals

· Intolerance of plagiarism of any form

· A guarantee of equal opportunities, development and international interaction for every student and teacher

ICEF students have everything required for a complete educational experience: well-equipped lecture halls, modern computer rooms, access to the reading rooms and libraries of ICEF and the HSE, and unlimited access to the University of London’s learning resources. The entire learning process is supported by free study manuals and learning-method materials, including the recommendations of teachers from ICEF and the UoL.

ICEF students also enjoy the use of an outstanding cafeteria, where a variety of dishes are on offer at affordable prices. In their free time, ICEF students can make use of various sports facilities and gyms for free.

ICEF guarantees dormitory accommodation for all students that do not live in Moscow.

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5) Gain experience of another culture, and learn another language

Studying at a foreign university gives you the unique opportunity to learn about a different culture, get a feel for its life and history, and understand and speak its language. Russia has one of the most dynamically developing economies in the world and plays an important role on the world stage. An intimate knowledge of Russia could give you an edge in the world of tomorrow – and you will be studying in Moscow, the historical and cultural heart of the country.

Moscow offers students a rich environment in which to live and study. As well as educational benefits (libraries, professional institutes, and the resources of the HSE) the city is packed with theatres, galleries, museums, and concert halls. ICEF’s central location means that all of the major Moscow landmarks and cultural attractions are within easy reach.

Studying in Moscow will also give you the chance to interact with Russians and learn their language. Even if you don’t know a word right now, don’t worry – the HSE offers international students great courses in Russian as a Foreign Language for all levels, and ICEF also has links with a number of private teachers who can help improve your skills. 

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6) Be part of a talented and ambitious student body

  • Average entry marks at ICEF are nearing those of the budgetary departments of many HSE faculties and other top Russian universities
  • Around 70% of students are accepted on the basis of their Universal State Examinations, and practically all students maintain this level throughout their studies at ICEF

ICEF students hail from all over Russia and all corners of the world. The demanding entry requirements (for Russians, an average of 80% or higher in national examinations) ensure that only the most talented and active applicants, unafraid to pursue ambitious goals, are accepted. More than 70% of Russian students are accepted to the College on the basis of their national examination results, which ensures equal competition across the country. The remaining 30% are offered places thanks to their Olympiad results, including national champions in Economics and Mathematics.

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7) Experience a unique and international university atmosphere that promotes collaboration between students, teachers and researchers

The unique fusion of two university cultures at ICEF brings together two like-minded communities with shared academic values and a belief in the importance of free expression of ideas – two academic cultures that bring together the best of their different educational traditions. Specifically, students have concrete examples of their teachers’ research, and multiple opportunities for collaboration and participation: at research seminars and through the work of topical groups, through the activities of the International Laboratory of Financial Economics – and by writing, presenting and defending their own pieces of work.

The College’s robust university atmosphere, in which every student has an equal opportunity to realise their full potential, is created through the culture at both HSE and the University of London that encourages academic success and assesses students’ knowledge and achievements objectively. 

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8) Receive a double degree of the highest international calibre

As an ICEF student, your knowledge is tested twice – once by the internal HSE examination system, and once by the international exams of the University of London, alongside other global bodies, such as APT and IELTS. The internal exams facilitate objective evaluations not only of students’ abilities, but also the quality of teaching on offer. All exams are taken in written form and in English. At ICEF, no exams are taken with machines, which ensures a true assessment of students’ knowledge. ICEF’s students perform considerably better in the University of London’s international exams than those from other institutions across the world; in 2014, ICEF students sat 19 of these exams, and their results tended to be 10-15 marks higher than the average of other students. That year, ICEF students received 11 prizes for outstanding academic achievement from the University of London. Each year, between eight and ten ICEF students achieve the highest examination mark in specific subjects across the entire globe. 

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9) Enjoy a vibrant student life full of socialising, incredible initiatives and the exchange of ideas

At ICEF you can find all sorts of student societies. There are more than 15 active ones, from the Case-Club (if you want to discuss real-life business situations) to the student newspaper and various sporting competitions. Not only do they make student life more interesting – they also help to develop teamwork, communication and presentation skills, all of which are greatly valued both by universities and employers. Moreover, students have many other opportunities for interaction and building contacts: during internships and overseas trips, when high-profile figures from the worlds of research, politics and business visit, and when graduates drop in to their alma mater. 

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10) Study at a College whose graduates are internationally competitive – both to continue their academic pursuits and to start out in the world of work

Today, you’ll come across ICEF graduates at some of the best universities in the world (such as Harvard, Oxford, Cambridge, Stanford, LSE, Columbia, Carnegie-Mellon, Wisconsin-Madison, LBS, Imperial College, INSEAD, Bocconi and many others), and in the offices of leading Russian and multinational companies. Our graduates have joined leading investment banks (Renaissance Сapital, Troika Dialog, Barclays Capital) and companies such as McKinsey, BlackRock, KPMG, CitiBank, Deloitte, Ernst &Young, A.T. Kearney, Goldman Sachs and others. Around 400 graduates (out of 1000 that have received the double degree) have been accepted to Master’s or PhD programmes at some of the leading universities in the world. 

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11) Don’t worry about fees; various forms of financial support are available to ensure that the best applicants have access to the programme, irrespective of their family’s income

Although ICEF charges tuition fees, the bursary system ensures that students from all socio-economic backgrounds can access the programme. Upon enrolling at ICEF, around 50% of students are granted bursaries, which are valid for the duration of the programme.

An important aspect of ICEF’s system is the availability of various levels of bursaries for students that are fulfilling their academic requirements. Top ICEF students – including, for example, Olympiad winners – tend to receive full scholarships. The objective system for assessing academic achievement ensures that access to an ICEF education depends solely on the personal traits and diligence of the student, and guards against any sort of discrimination whatsoever based on wealth, race, religion, gender or ethnicity.

ICEF students also have access to the student loan programme supported by the Russian government, which is operated by Sberbank and RosInterBank.

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