Master's in International and Monetary Economics

The Universities of Bern and Basel offer a challenging Master’s program in International and Monetary Economics with the possibility of additional specialization in financial markets-banking-prudential regulation and quantitative macroeconomics. The program is in English and is run jointly by the two Universities.

In the light of the increasingly globalized world economy, international issues relating to monetary policy, and indeed macroeconomics in general, are becoming ever more important. This is particularly true of an open economy such as that in Switzerland, which earns a great deal of its income from exporting goods and services and from investments. However, it also applies to the EU area, which is becoming increasingly economically integrated (and is expanding), to developing economies and even to major established economies such as that of the USA, which are more affected by international developments now than in the past. Since this means that purely domestic economic aspects are becoming less important, relatively speaking, it is essential for the well-being of many economies to train skilled experts who are familiar with the issues in the international economy. The recurring crises in financial markets, and their implications for economies in general, show how important the functioning of the monetary sector is for today’s global economy. A sound understanding of monetary policy as well as of the financial markets and how they are regulated is therefore indispensable, and that is exactly what this Master’s program aims to develop.

The MIME is intended for ambitious students who have a strong background in economics and quantitative methods and who are willing to be challenged. Students acquire rigorous, state of the art tools in economics, econometrics and computational economics. These tools can be used in research, policy analysis as well as in pursuing a doctoral degree in economics or a related field. In addition, students acquire broad and deep expertise in monetary economics and financial markets.

The program is unique in Europe as it combines monetary and international economics with financial markets using the most modern macroeconomic analysis tools. Switzerland is ideally suited to the MIME program and offers excellent job opportunities to MIME graduates as it is home to many international institutions, has a large banking sector, runs independent monetary policy, is a very open economy and has a well known financial regulation agency.

The application process consists of two stages:

Stage 1 (pre-application): The applicants submit a short CV and a list of the courses taken together with the grades achieved in individual courses as well as the grade point average (GPA). If available, GRE or GMAT scores could also be submitted. Please send your pre-application to

Stage 2 (application): Those who are found to satisfy the minimum MIME requirements are invited to initiate the official application process.

If accepted, the students are expected to have obtained their BA by the time courses start.


Hauptgebäude/Studium/Aula/Studenten in Hörsaal
Basic information
Degree: Master of Science in International and Monetary Economics, Universitäten Bern und Basel
Number of credits: 90 ECTS credits
Degree programs: Mono 90 ECTS credits
Duration: 3 semesters
Language: English
Beginning studies: Fall semester

Program objectives

The emphasis is on helping the students develop a solid knowledge of modern macroeconomics (in particular in the areas of monetary, international and financial markets), master useful, practical quantitative tools and hone their analytical skills. At the end of their studies, graduates of the MIME program should

  • understand the role of the central banks and bank supervisory authorities in macroeconomic stability, especially with regard to their international connections,
  • understand the role of the central banks, bank supervisory and regulatory authorities and private investors (commercial banks, institutional investors, etc.) in international money markets,
  • have the ability to make or assess decisions on monetary policy according to the best scientific criteria,
  • be familiar with the historical background to international economic developments,
  • be familiar with different approaches and trends in monetary policy and the regulation of financial markets,
  • be able to consider and comment on current economic issues.

Areas of Specialization

The program offers up-to-date, challenging training in three areas: monetary theory and policy and international macroeconomics; banking, financial markets and banking regulation; and quatitative (econometric and computational) methods.


The program is designed as a 3-4 semester master program. It requires 90 ECTS points. ECTS points are earned by taking lectures, seminars and by writing a master thesis. The program starts in the fall of each year.

The specialized Master in International Monetary Economics program is worth 90 credit points under the European Credit Transfer System (ECTS) with a standard period of study of three semesters. With part-time study, the Master’s program will, accordingly, take longer.

The curriculum encompasses introduction, core and areas of specialization  courses, and a Master’s thesis.

Introduction module: Advanced Topics in Economics

The complete introduction module is worth 18 ECTS. The aim is to bring all the students up to the same standard. It therefore has a broad base and includes the basic elements of studying Economics at Master’s level (microeconomics, macroeconomics and econometrics). The courses in this module are offered in parallel at both universities within the framework of their normal Master’s program.

Core module: Core Areas in Monetary Economics

Students have to obtain 24 ECTS in the core module. This comprises those courses which make this program a specialized Master’s program. They cover the key themes of the program in terms of content. The module also includes a seminar as part of which the students write and present a seminar paper (6 ECTS). The seminar is conducted by members of the faculties involved, but may also include experts with professional experience and potential employers for the graduates. The courses in this module are typically only offered at one of the two universities, so the students have to commute between them. The module includes a minimal amount of freedom of choice. The exact content of the module is determined by the Governing Board.

Specialization module: Areas of Specialization in International and/or Monetary Economics

Students can obtain 18 ECTS in the specialization module. In this module, they can choose from a wide selection of Master’s courses at the two faculties involved that are suitable for further specialization in the intended Master’s program. This module can also include courses from other faculties. In the specialization module, it is upon special request also possible to take courses that are not held in English. The aim of the specialization module is to give students the opportunity to build up a personal profile according to their interests or the career they hope to pursue. However, the Governing Board ensures that the content is to some extent related to the specialized focus of the MIME.

Courses in the core module can also be recognized for the specialization module if the student has already obtained the necessary number of points in the core module.

Master’s thesis

The Master’s thesis is worth 30 credit points. It therefore requires 900 hours of work, which equates to 20 weeks of full-time work. It can only be started after the introduction module has been successfully completed and at the end of the second semester. Because of the scope of the Master’s thesis, very high standards are set for its originality and for the intensity of the research required. It is supervised by at least one full-time member of one of the two faculties. The supervisor sets a subject in consultation with the student.

If the Master’s thesis is not accepted, it can be repeated once, with a new subject being set. If the thesis is rejected once again, the student is disqualified from the program.

Individual academic requirements

The following academic qualifications are required for admission to the specialized master's degree program in International and Monetary Economics (mono):

a) Bachelor’s degree in the branch of studies Economics from a Swiss university with a final grade of at least 5.0 (non-rounded grade for major or main subject)
b) Bachelor’s degree from a Swiss university in a branch of studies related to Economics in terms of content or methodology with a final grade of at least 5.0 (non-rounded) plus GRE or GMAT test in the top score range (a result achieved by the top 20% of candidates)
c) Bachelor’s degree in the branch of studies Economics from a recognized foreign university with a final grade corresponding to at least 5.0 (non-rounded grade for major or main subject) in the Swiss grading system
d) Bachelor’s degree from a recognized foreign university in a branch of studies closely related to Economics with a final grade equivalent to at least 5.0 (non-rounded) in the Swiss grading system plus GRE or GMAT test in the top score range (a result achieved by the top 20% of candidates)
e) Another recognized academic qualification at the recommendation of the Qualifications Commission

Recognition of the bachelor's degree will be individually decided upon if the degree is more than six years old. Additional attainments may be required. The ECTS credits will be listed separately in the diploma supplement as extracurricular attainments.

Language requirements

Evidence of having achieved a minimum of level B2 of the Common European Framework of Reference for Languages is required for admission to the master's degree program in International and Monetary Economics.

For questions regarding application and admission, please contact the Admissions Office.

Application and admission

The degree program can only be started in the fall semester.
Admission requirements 
Application deadlines

Current UniBE students

Apply for a change to the M Sc in International and Monetary Economics, Universität Bern in Zusammenarbeit mit der Universität Basel, by self-service as part of the re-registration for the next semester.
Renewal of semester registration → Self-service
Recognition of academic achievements
Procedure and timing of the renewal of semester registration

Application with a Swiss degree

Online application
Steps from application to registration

Application with an international degree

Online application
CHECKLIST - Documents for your application / Important information
Steps from application to registration

For questions regarding application and admission, please contact the Admissions Office.