Economics (Eng.) – Field of study catalogue MU
“When a thousand words is worth one model”
The Economics study programme offers a way for its students to obtain in-depth knowledge in the area of economic theory in terms of its development, its alternative forms, and the substance of its argumentation. Moreover, this knowledge is combined with mastering the basics of quantitative tools and techniques used both in economics and in other scientific disciplines. The knowledge and skills from the Bachelor’s study programme are developed and extended, especially in the history of economic theories and alternative economic thoughts. The aim is to prepare professionals able to solve theoretical and applied economic problems and to think analytically based on mastering the techniques of theoretical economics and understanding the relevance and limits of their use.
In accordance with the concept of the study programme, the final theses (except the double-subject combination with Applied Mathematics) are focused on economic theory, its development, alternative approaches, and philosophical and methodological frameworks. Typically, the topics involve the comparison of theoretical approaches, the study of the nature of their theoretical arguments, and the relevance and limits of their applications.
As for the formal aspect of thesis, work with the theoretical opinions of various authors is expected. The main contribution of the thesis (based on the theoretical thoughts of other authors) may be achieved in analysis, generalization, finding of implicit assumptions and constraints, comparison, synthesis, and applications. Even private mapping and structuring theoretical discussions on selected topics are permissible forms. Conversely, the use of mathematical methods is not necessarily required.
Combining the Economics study programme with another study programme (e.g. Applied Mathematics) accentuates the synergic effects of the particular combination. The study of Economics and Applied Mathematics (formerly Mathematics-Economics) opens a way for students to gain a unique combination of knowledge of theoretical and applied mathematics, current trends in economic theory, and applications of universal quantitative tools and techniques used both in economics and in other scientific disciplines. The skills and knowledge from the Bachelor’s study programme are developed in the areas of advanced mathematics, statistics, classical and Bayesian econometrics, economics, and macroeconomic modelling.
The final theses in this combination focus on topics both in mathematics and in economics. Theses in economics include the application of mathematical and statistical tools in economics, economic modelling (micro and macro), and economics methodology. The topics should be based on the use of mathematical and statistical techniques (where appropriate) or on formal mathematical interpretations of economic theory. Acceptable thesis forms include empirical works, works based on economic and mathematical models, surveys and summaries of tools and techniques from the fields of econometrics and statistics, usually accompanied by a demonstration of their applications to verify their robustness, and characteristics of any theoretical or empirical extension.
After successfully completing his/her studies the graduate is able to:
- master the main concepts of economic theory in detail and to understand the corresponding scientific articles
- apply theoretical knowledge in solving specific economic case studies, including the building of formal models
- comment on and interpret current economic developments within the context of modern economic theories, possibly using appropriate quantitative tools and techniques
- identify analytically hidden connections and consequences of the economic impacts of economic policy
- write an academic text dealing with problems of economic and economic policy, including competent arguments and opinions based on quantitative analysis of empirical data
Graduates have the prerequisites to apply for positions in the areas of theory and research in the field of economics and related disciplines. They should be eligible for positions in economic journalism and economic analysis for the needs of the public and private sectors. They should have a good starting condition for doctoral studies in economics at the Czech universities or at universities abroad.
Graduates have found jobs in the following workplaces:
* Masaryk University (lecturer and researcher);
* The Office for the Protection of Competition (public procurement, mergers or defining the relevant market and abuse of dominant position);
* KPMG (audit);
* Automotive Lighting (statistical evaluations and analysis of the reliability of production processes);
* Česká spořitelna (corporate banking).
Graduates of the Economic and Applied Mathematics double-subject study programme have found jobs in the following workplaces:
* The Czech National Bank (supervision of financial markets and the banking sector);
* National Bank of Slovakia (economic analyst);
* Home Credit and Home Credit International (risk management and statistical analysis);
* KPMG (auditing, business analyst);
* OG Research (macroeconomic analysis, modelling, and prediction of emerging economies);
* Air Bank (analyst, data processing, risk management, and programming);
* UniCredit Bank (investment analyst, risk management, product management, and private banking);
* Health Insurance Company of the Ministry of Interior (analyst, analysis and data processing, projections);
* Research Centre for Toxic Compounds in the Environment, Masaryk University (CFO);
* APS Holding SE (senior analyst, investment funds analyst, evaluation and prediction of the risk and performance of investment portfolios);
* Czech Insurance Company (insurance market analyst, internal auditor);
* Acrea (exclusive distributor of IBM SPSS software, lecturing and training in the application of statistical methods);
* AXA (senior system analyst).
The standard duration of studies is four semesters. For admittance to the final state examination, students must earn a total of 120 ECTS credits for type A/required, type B/selective, and type C/elective courses. Type A/required courses constitute the basis of the discipline and their share is the largest part of credits (including credits for courses focused on writing a Master’s thesis). Students choose type B/selective courses according to their interests and intended professional specialization. The remaining credits can be earned from type C/elective courses offered in the curriculum of the given study programme or from other courses offered by any other study programme. The total minimum number of credits is defined by the study and examination regulations of Masaryk University, the guidance note about the general study requirements, and the current study catalogue. Students can access the study catalogues through the faculty website.
The final state examination in the Economics study programme is oral and has three parts:
- Thesis defence (a projector is available)
- Examination in Economics (student draws one question): questions and methodological guidelines for the exam can be found on the department website
- Examination in Economics Theory
More information about graduation requirements can be found on the department website: https://www.econ.muni.cz/o-nas/organizacni-struktura/561100-katekonomie/szz-na-ke
After completing the Master’s degree study programme, it is possible to continue further studies in any doctoral degree study programme (after satisfying the admission requirements).