Visiting Master’s at CERGE-EI

Visiting Master’s at CERGE-EI

For Czech-speaking Master students (Master’s program “Ekonomie a Finance”) or for students of the Master in Economics and Finance, IES and CERGE-EI jointly offer a unique opportunity to study part of the track simultaneously at IES and CERGE-EI  

The scheme combines Master’s level courses at IES with PhD-level courses at CERGE-EI and is designed for strong and highly motivated students. As a result, IES Master’s students visiting CERGE-EI:

·     obtain their Master's degree in Economics and Finance from IES

·     complete the 1st year of the PhD coursework at CERGE-EI including General Exams, and may proceed to the 2nd year of the CERGE-EI PhD program if they wish

Visiting Master’s take the 1st-year PhD courses at CERGE-EI as equivalents to IES courses and receive credits. For example, CERGE-EI’s PhD courses “Macroeconomics I" and “Macroeconomics II” would jointly be recognized as equivalent to the IES’s Masters-level course “Advanced Macroeconomics.”

Key facts

·     High-quality, challenging PhD-level Economics courses at CERGE-EI.

·     All courses are taught in English. Academic Skills Center helps students develop Economics-specific language and academic skills.

·     No tuition fee associated with visiting CERGE-EI.

·     Option to complete the PhD in Economics program at CERGE-EI later on.

·     Your application for the Visiting Master’s scheme needs to be sent to CERGE-EI  by September 25 at the latest to be able to start by the beginning of the Winter Semester

Eligibility Criteria

·     Bachelor’s degree in economics, mathematics, financial mathematics, statistics, physics, or related fields, either at IES or elsewhere.

·     Enrollment in the IES Master’s Program

·     Strong background in mathematics.

·     Previous education in economics is not required but desirable.

·     Sufficient competence in English to complete English-taught courses.

How To Apply?

Send the following documents in electronic form by September 25, 2023 to the CERGE-EI Study Affairs Office, e-mail:

  • Application indicating that you wish to enroll in the Visiting Master’s scheme. Please use the form from here.
  • Curriculum vitae.
  • Statement of motivation: 1000-2000 word statement in English explaining your academic background, interests and career goals, and how the Visiting Master’s scheme will help you meet your objectives.
  • Bachelor’s degree transkript of records.


Other relevant documents that may increase your chances of being admitted to the Visiting Master’s scheme, such as additional study records, certificates, diplomas, etc. may be attached. You are also encouraged to submit TOEFL, IELTS, or other certified English language exam scores, as well as GRE, GMAT, or other proficiency test scores.

How Does It Work?

The contractual cooperation allows you to take the first-year PhD courses at CERGE-EI as equivalents to IES courses as follows:

·         Microeconomics I (Winter Semester) and Microeconomics II (Spring Semester): jointly recognized as equivalent to the compulsory IES course JEM215 Advanced Microeconomics

·         Macroeconomics I (Winter Semester) and Macroeconomics II (Spring Semester): jointly recognized as equivalent to the compulsory IES course JEM216 Advanced Macroeconomics

·         Statistics (Winter Semester) and Econometrics I (Spring Semester): jointly recognized as equivalent to the compulsory IES course JEM217 Advanced Econometrics


·         Microeconomics III, Macroeconomics III and Econometrics II (all delivered in Summer Semester, which is a CERGE-specific semester between mid-May and mid-July that follows the Spring Semester): individually recognized as three elective courses (“povinně volitelné”), each with 9 credits (total 27 credits). These would cover the IES Master’s Program requirements for the electives (at least 24 credits)

Below is an outline of the coursework and exams that most visiting Master’s students follow, particularly those who later intend to continue with the PhD program at CERGE-EI.

1st year: 

·         Take the CERGE-EI core sequence (that is, Microeconomics I, II, and III, Macroeconomics I, II and III, Statistics, and Econometrics I and II, during the three semesters from late September/early October to mid-July).

·         In parallel, take courses at IES, typically those needed for the selected specialization (called “core electives” in the MEF program), and eventually also some optional courses (“volitelné”).

·         Your 27 credits from the three CERGE-EI courses delivered in summer (Microeconomics III, Macroeconomics III and Econometrics II) will count as electives at IES (“povinně volitelné”)

End of 1st year: Take CERGE-EI Core General Exams.

2nd year:

·     Take the remaining IES courses necessary to earn your Master’s degree (the remaining courses needed for your specialization and electives or optional courses needed to satisfy the requirements in the study plan).

·     Spend one semester on an Erasmus exchange or other exchange program abroad (optional).

·     Take the compulsory Master’s Thesis Seminars I and II and write your Master’s thesis, supervised at IES or at CERGE-EI, or jointly.

End of 2nd year:

·     Pass the State Final Exam at IES by defending your Master’s thesis.

·     Transfer to the second year of the PhD program at CERGE-EI if you wish.

Transferring to the CERGE-EI PhD Program

IES students who wish to continue in the CERGE-EI PhD program are required to go through the regular CERGE-EI application procedure, typically during the second year of their Master's studies at IES.

The application deadline for the CERGE-EI PhD program is late March of each year.

Visiting Master’s students who complete all three core sequences (Microeconomics, Macroeconomics, and Statistics & Econometrics) and pass all three Core General exams are admitted directly to the 2nd year of the CERGE-EI PhD program. Those Visiting Master’s students who complete one or two sequences (for example, only Microeconomics) may be admitted to the PhD program on an individual study plan.

Admission to the PhD Program at CERGE-EI is conditional on having a Master's degree or its equivalent that can be nostrified in the Czech Republic. The IES Master's degree fulfills this legal requirement.

What If I Do Not Pass CERGE-EI Courses?

In the event that you do not pass a CERGE-EI course that counts as an equivalent to the IES compulsory courses (or that counts as an elective) in the 1st year, you have the following options:

  1. Pass the course in the 2nd year.
  2. Opt out back to the IES equivalent course(s). If you fulfill the criteria for the IES courses (signed up to the course, the course requirements are fulfilled), you may even try to pass the course in the same semester. If not, enroll on the IES course the following year. Please note that you can sign up for a single course at IES only twice during your studies.

Using the opt-out option does not eliminate the option to go through the regular CERGE-EI PhD admission procedure in the future.


There is no tuition fee for IES students participating in the Visiting Master’s scheme at CERGE-EI.