The Center for Monetary and Financial Studies (CEMFI) is an institution, established by the Bank of Spain in 1987. Its main purpose is to provide graduate education and research in economics. CEMFI makes available a high-quality Graduate Program, leading to the official degrees of Master in Economics and Finance and PhD in Economics. The Master in Economics and Finance is a two-year full-time program, which aims to prepare students for a wide variety of public and private careers. It also serves as the first two years of the PhD in Economics at CEMFI. With regard to this, The PhD in Economics at CEMFI consists of two years of graduate course work and research training in the Master in Economics and Finance, followed by three years of full-time PhD dissertation work. The purpose of the program is to shape researchers, who can make significant contributions to scientific knowledge in economics. The program received the Quality Distinction (“Mención de Calidad”) of the Spanish Ministry of Education for the academic years 2007-2008 to 2010-2011. Finally, CEMFI also organizes a Summer school, which mission is to provide established practitioners and academics from all over the world with an opportunity to update their training.
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