Program Outline

• How Does It Work?
• Preparatory Semester
• First Year—MA/PhD Courses at CERGE-EI
• Second year—Elective Courses and/or Erasmus Exchange at IES
• Transferring to the CERGE-EI PhD Program
• Extra options

How Does It Work?

Below is an outline of the program that most students follow, particularly those who intend to continue with PhD program at CERGE-EI. However, individual study plans are also possible.

• Apply to the Master’s program "Economic Theory" at the IES, and submit the required attachments
• Attend Preparatory semester at CERGE-EI
• 1st year: Take CERGE-EI core sequences (3 semesters from early September to mid June)
• End of 1st year: Pass CERGE-EI Core General Exams.
• 2nd year: Take the remaining IES courses, spend one semester at an Erasmus exchange abroad (optional), write your Master thesis. The thesis is supervised either by a CERGE-EI or IES faculty member, or can be written under joint supervision.
• End of 2nd year: Pass IES State Exams and Master thesis Defence. Transfer to the PhD program at CERGE-EI.

Preparatory Semester 

Before the start of each academic year, candidates for the MA/PhD program at CERGE-EI attend the summer Preparatory Semester, during which they receive intensive training in intermediate microeconomics, and macroeconomics, and mathematics. This is in view of the fact that a) many applicants do not have a background in modern economics equivalent to “western” standards and b) their knowledge of mathematics is frequently at different levels. The Preparatory Semester thus allows CERGE-EI to provide future students with a common background on which to build their graduate study.

Candidates must exhibit satisfactory performance in the Preparatory Semester in order to be admitted to the program. Along with providing an education in basic modern Economics, the Preparatory Semester serves as a selection process for the MA/PhD program. Typically, about 60 students attend the Preparatory Semester and about 30 students are offered admission to the MA/PhD program in the fall.

Joint Masters students may be required to attend the Preparatory Semester courses and take the Midterm and Final Examinations. However, if they do not succeed in passing midterm and/or final examinations, they cannot be admitted to the Joint Masters program but can continue with the Economic Theory Master's program at IES.

First Year—MA/PhD Core Courses at CERGE-EI 

Organisation of the academic year at CERGE and at IES is different. There are three semesters of study in the first year at CERGE-EI: Fall, Spring, and Summer. The academic year at IES is divided into a winter semester and a summer semester.

In this first year, students follow a common curriculum designed to provide a strong foundation in the following areas:

• Microeconomics
• Macroeconomics
• Statistics
• Econometrics
• English Academic Writing (Spring and Summer only)

Equivalent Courses

You may earn up to 86 credits (21 core credits, 30 track-obligatory credits, 35 elective credits).

In order to recognize your credits visit Master Program Director at IES (doc. Oldřich Dědek) with the list of courses that you want to have recognized as equivalents.  Use the following form. Pay the visit by the end of each examination period at IES (end of January for winter semester, beginning of September for summer semester) at latest.

CERGE-EI curriculum also includes English courses on Academic Writing, Advanced English—Combined Skills, and Research Methodology. You have the option to enroll into these courses as well. Two of them will be recognized as electives. If you do not take the English courses and later continue to the CERGE-EI Ph.D. program, the individual study plan will specify a minimum English curriculum (such that you complete at least 50% of the English curriculum of regular CERGE-EI students).

General Examinations

Students are strongly recommended to take final examinations after each semester and General Exams at the end of the academic year. Even though passing General Exams is not required to obtain the Masters degree from Charles University, it is required for continued study in the PhD program at CERGE-EI (one make-up is allowed for each exam). See the CERGE-EI PhD program outline for more details.

Second year—Elective Courses and/or Erasmus Exchange at IES 

Students take courses at IES in order to complete the IES Master program requirements. The courses include a few required courses and a large option of electives. Details are available at the IES website.

Transferring to CERGE-EI PhD Program 

Applicants who want to continue with the CERGE-EI PhD program shall go through the regular CERGE-EI application procedure during the 2nd year of Masters studies at IES. Students who complete all three core sequences (Microeconomics, Macroeconomics, and Econometrics) and pass all three Core General Exams will be admitted directly to the second year of CERGE-EI MA/PhD program. Those students who complete one or two sequences (for example, only Microeconomics) may start the PhD program on an individual study plan, i.e. combining 1st year core and 2nd year field sequences.

Upon successful completion of the second year of CERGE-EI MA/PhD program students are granted a Master of Arts degree which is chartered by the New York State Board of Regents. While CERGE-EI MA degree has an absolute charter issued in the USA, PhD degree is fully accredited in the Czech Republic and has an absolute charter issued in the USA. However, only students who have a Master degree or its equivalent prior to coming to CERGE-EI may be awarded a Czech PhD degree upon completion of CERGE-EI PhD program.

Extra options 

In case you do not pass a CERGE-EI course, you have the following options to complete the Master’s program in Economic Theory:

1. Pass the course later.
2. Opt out back towards the IES equivalent course(s). If you fulfill criteria for the IES courses (signed into the course, course requirements fulfilled), you may even try to pass the course in the same semester. If not, enroll for the course next year. Notice that you can sign up for a single course at IES only two times.

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