|1st Semester (September - January)||ECTS||2nd Semester (January - May)||ECTS|
|Macroeconomics||6||History of Economic Thought
|Microeconomics||6||Econometric Methods II
|Economic Growth||6||Elective in Economics area
|Games and Contract Theory||6||Elective in Economics area
|Econometric Methods I||6||Free Elective||6|
|Research Seminar in Economics I||6|
|Research Seminar in Economics II||6|
|Master dissertation in Economics||48|
A wide range of courses is available to complement the core course modules. These can be in specific areas of economics or political economy or from areas such as finance, management, marketing, and quantitative methods.
Note: The courses below are examples of modules which may be offered; however, the School reserves the right to alter, omit or add optional modules within the overall framework described above:
- Contemporary Labour Market
- Topics in Industrial Economics
- Monetary Theory and Policy
- Competition Policy and Regulation
- Pricing Strategies
- Environment, Energy and Sustainability
- International Finance
- Financial Derivatives
- Portfolio Management
- Management Consulting
- Business Analytics
- Strategic Entrepreneurship
- Informatics for Economics and Management
- Economics of Banking and Financial Markets
Academic Year 2019/2020
|Welcome Day||02 September 2019
|Kick-Off Activities||02 - 06 September 2019
|Period of Lectures||09-09-2019
|Exams 1st Term||14-10-2019||26-10-2019|
|Exams 2nd Term||02-12-2019||14-12-2019|
|Second Chance Exams||06-01-2020||11-01-2020|
|Period of Lectures||03-02-2020||16-05-2020|
|Exams 1st Term||16-03-2020||28-03-2020|
|Exams 2nd Term||18-05-2020||30-05-2020|
|Second Chance Exams||08-06-2020||16-06-2020|
Note: Some exams may be done during the courses period
||September 2020 to May 2021
|Project/Dissertation||Delivery no later than 30th September 2021
Note: some changes can be made yet to the calendar. Students should NOT book their flight back before knowing the exact dates of all examinations, including Second Chance exams.
Lectures in the 1st year are mandatory to all students and take place in a full-time schedule, usually in the afternoon period.
Alexandra Ferreira Lopes (DE)
Alexandra Ferreira-Lopes is an Assistant Professor at the ISCTE - IUL and she is affiliated with BRU-IUL and CEFAGE-UBI research centers. She earned her PhD in Economics from ISEG - Instituto Superior de Economia e Gestão da Universidade de Lisboa (ISEG - UL, Lisbon, Portugal). She is an author of a number of articles about Open Macroeconomics, Business Cycles, Endogenous Growth Theory, and Empirical Economics, published in international peer-reviewed journals such as Ecological Economics, Economic Modelling, Open Economies Review, Oxford Economic Papers, Public Finance Review, and Regional Studies.
Catarina Roseta Palma (DE)
Catarina Roseta-Palma is Associate Professor in the Department of Economics at ISCTE-Instituto Universitário de Lisboa. Her main research interests are in the area of water management, where she has focused on groundwater management and water pricing policies. She is interested in models that take into account behavioral effects. She has also worked on sustainable development, including growth models as well as green accounting, and decision making under uncertainty, namely stochastic and robust optimal control. She has several publications in these areas. She has worked with Regional Water Boards (ARH Alentejo and Algarve) and with INAG (Portuguese Water Authority), and she has been a consultant for the Portuguese Environment Ministry and the European Commission. She was nominated by the government to the Portuguese Commission for Green Fiscal Reform (2014). She is a member of the European Association of Environmental and Resource Economists, in whose conferences she regularly participates, and where she was elected EAERE Council Member for the period 2010-2013 (vice-president for 2012-2013). She is also in the Iberian Association of Environmental and Resource Economists (AERNA), where she was a member of the Board in 2005-2009. She has taught Environmental Economics, Public Economics, and Microeconomics at the undergraduate as well as graduate level, and she coordinated a graduate degree in Corporate Sustainability (2007-2008). She is also the coordinator of the MSc in Economics (2012-2016).
Fátima Ferreiro (DEP)
Maria de Fátima Ferreiro is an assistant professor at Department of Political Economy (School of Human and Social Sciences) with a PhD in Economics (ISCTE-IUL) about ‘Economics, Property Rights and Agriculture’. Her activity as a teacher is related with courses of History of Economic Thought, Social Economics, and Economics and Territory. Her research and publication areas are mainly related with territory and sustainability, environmental values and ethics, public decision and social economics. She is a member of Dinâmia-CET/ISCTE-IUL.
Henrique Monteiro (DE)
Henrique Monteiro is Assistant Professor at the ISCTE-IUL Business School and a researcher at BRU-IUL. He earned his Ph.D. in Economics from ISEG-UTL. His main research interests are in environmental and natural resource economics, especially in the area of water management and applied microeconometrics. He has published his work in Water Resources Research, Review of Urban and Regional Development Studies and International Review of Economics Education. He also worked as a consultant for the European Commission, the River Basin Authorities of Alentejo and Algarve and the Regional Government of Madeira.
Isabel Salavisa (DEP)
ISABEL SALAVISA CURRICULUM VITAE - A SYNTHESIS June 2012 ISABEL SALAVISA is Associate Professor of Economics at ISCTE-IUL (Instituto Universário de Lisboa), in Lisbon. Holding a degree and a Mestrado in Economics (ISEG), she obtained her PhD in Economics at ISCTE-IUL, under the supervision of Robert Boyer, CEPREMAP, Paris. She has extensive experience in lecturing, research, research coordination, conferences organisation and scientific and academic institutions coordination. Her research has been conducted mostly at DINAMIA-CET, Centre for Socioeconomic and Territorial Studies (from ISCTE-IUL), internationally evaluated as a Centre of Excellence, where she is Director since 2004. The main topics are innovation and international specialization, technological innovation and employment and sectoral studies. At present she is carrying on research on innovation, new energy technologies and the transition to an environmentally sustainable paradigm. Over the last years she has been dedicated to the study of entrepreneurship in high-tech sectors and the role of social networks. Her research experience extends to contributions to the design of specific public policy programmes, in the fields of industrial restructuring, innovation promotion and technological innovation and employment. She published, edited and contributed to several books, published articles and presented papers in a great deal of international and national conferences and workshops. She has supervised dissertations at all levels (undergraduate, Master and PhD.) and has taught at several post-graduation courses. She is a member of the European Association on Evolutionary Political Association (EAEPE), of the Recherche & Régulation Association and has been of the former DIME (Dynamics of Institutions and Markets in Europe) Network of Excellence (VI FP of the EU).
Joaquim Ramalho (DE)
Joaquim J.S. Ramalho graduated in Economics from the University of Evora in 1993 and received a masters degree in Mathematics Applied to Economics and Management from the Technical University of Lisbon (ISEG-UTL) in 1996. In 2002, he completed his PhD in Economics at the University of Bristol. Since 2016, he is Professor at ISCTE-IUL (Dep. Economics) and before that he taught at the University of Evora for 23 years. His research focuses on theoretical and applied microeconometrics, and he has published in a variety of academic journals, including the Journal of Econometrics, Oxford Bulletin of Economics and Statistics, Econometric Reviews, Computational Statistics and Data Analysis and International Journal of Industrial Organization.
José Dias Curto (DMQGE)
José Dias Curto is associate professor at Instituto Universitário de Lisboa (ISCTE-IUL Business School, Quantitative Methods Departament) and investigator at Business Research Unit (BRU-IUL), Lisboa, Portugal. He earned his PhD in Quantitative Methods for Management from the Instituto Universitário de Lisboa (ISCTE-IUL), MA in Management from Instituto Universitário de Lisboa (ISCTE-IUL) and Bachellor's degree in Economics from Instituto Superior de Economia, Portugal. His primary research focuses statistics and econometrics with applications to finance, accounting and economics. List of journals where he published: Research in International Business and Finance, Journal of Business Ethics, Annals of Economics and Finance, Economic Computation and Economic Cybernetics Studies and Research Journal, Review of Quantitative Finance and Accounting, Journal of Applied Statistics, Journal of International Financial Markets Institutions & Money, Statistical Papers, International Statistical Review, European Accounting Review, Australian Accounting Review.
Luís Francisco Carvalho (DEP)
Luís Francisco Carvalho is an Assistant Professor at the Department of Political Economy of ISCTE-IUL and holds a Phd in Economics from ISCTE-IUL. He his researcher at DINAMIA’CET-IUL, Centre for African Studies (CEA-ISCTE-IUL), and Centre of African and Development Studies (CESA-ISEG-UTL). His research interests cover the History of Economic Thought, Development Theories and Policies, International Political Economy, and African Studies. He has worked as a consultant for the Portuguese Education Ministry.
Miguel Carvalho (DE)
Miguel Carvalho is an Invited Auxiliary Professor at the ISCTE-IUL Business School. Graduated in Physics, he earned his MSc in Economics at ISEG-UL, and PhD in Economics at Tilburg University, Netherlands. He was a Researcher at Catolica Lisbon is and since 2014 at ISCTE. He has done research in Theoretical Behavioral Economics, Industrial Organization, Environmental Economics, International Monetary Economics and Transportation Economics.
Sofia Vale (DE)
Sofia Vale is assistant professor at ISCTE-IUL. She holds a PhD in Economics from ISCTE-IUL and she is member of the research center BRU-UNIDE/ISCTE-IUL. She has been lecturing Macroeconomics and Economic Growth in IBS. She was the former director of the Bachelor in Economics and is currently the director of the PhD in Economics and a member of the Department of Economics Scientific Comitte. She is a member of the International Editorial Board of Panoeconomicus and has published her research on growth, tourism, and health in international journals as Economic Modelling, Journal of Economic Studies and Applied Economics Quarterly.
Sudipto Karmakar (DE/Banco de Portugal)
Sudipto Karmakar is a Research Economist at Bank of Portugal's Department of Economic Studies and an invited Associate Professor at ISCTE-IUL. He has earned his Ph.D. from Boston University, USA. His fields of specialization are banking, macroprudential policy and the links between the real and financial sectors. He has also been a technical adviser/ visiting researcher at the Bank for International Settlements, Switzerland. He has published in the International Journal of Central Banking, the Journal of Financial Stability and in the Economics Letters.
Vivaldo Mendes (DE)
Vivaldo Mendes is a professor of Economics at the Instituto Universitário de Lisboa (ISCTE-IUL) since 1998. He obtained a Ph.D. in economics from the University of Sussex, and got a bachelor degree in economics from the Instituto Superior de Economia e Gestão of the Lisbon University. He has hold various university management positions over the last two decades, from Vice--Rector of ISCTE--IUL between 2005 and 2009, President of the General Assembly of ISCTE--IUL from 1995 to 1999, Head of the Department of Economics of ISCTE--IUL between 2011 and 2014, to member of the Scientific Council and Director of the Master in Economics of the former institution, and member of two specialized commissions of the Council of Portuguese Universities (CRUP), among others. Vivaldo Mendes has taught a large amount of courses, ranging from macroeconomics, microeconomics, monetary and financial economics, to international economics. He has published in the fields of macroeconomics, optimal monetary policy, and dynamic complex systems.
In the scope of this programme, ISCTE Business School provides a Welcome Day to its students, which consists in a Welcome Session with the Dean of the School, all of the Directors of masters, and a presentation from ISCTE Junior Consulting, ending with a guided visit to ISCTE’s facilities.
The best and most memorable programmes are distinguished from the first moment. ISCTE Business School organizes the first day of classes for team building activities that since the beginning of his academic life, the true freshmen create team spirit and friendship.
These activities will allow the student to:
- Get to know your colleagues in a relaxed and friendly environment enabling contact and networking;
- Discover IBS reality, the environment, infrastructures and support services;
- Start the process successfully of changing a high school student to an undergraduate student mind-set;
- Realize the new challenges that expecting a student of Masters and their professional opportunities and contact with the testimonials from alumni.
IBS Mentoring Programme is a personal development project, reserved for our best Masters Students. Through this programme, they can contact a former IBS Student.
The aim of this programme is to allow students to complement their academic background and training at ISCTE Business School with a better knowledge of the economic and business reality where they will integrate in the near future.
With their mentors, students have the opportunity to discuss their academic progress and career prospects, and benefit from their recognised professional experience that will help them clarify many of the most pressing issues.
For more information about IBS Mentoring Programme, contact email@example.com
Tiago Gonçalves, IBS Mentor
Manager planning and controlling management at EDP innovation and EDP ventures
BSc in Management 2006
"On a personal level has been truly rewarding to contribute in some way, through my career, experience and knowledge for a whole new generation of managers. It is certainly an enriching experience for Mentors, forcing them to resume contact with life and academic difficulties and concerns that students face today.
Companies Represented (Edition 2016/2017)
Tuition Fees for International Students* 2019/2020
|1st Year||€ 7.000|
|2nd Year (dissertation/project)||€ 2.800|
Tuition Fees for National and EU Students 2019/2020
|1st Year||€ 2.900|
|2nd Year (dissertation/project)||€ 1.600
During the first year the tuition fee can be paid either in one lump sum or spread over nine instalments.
For the 1st Year:
|1st installment||€ 500
|2nd installment||€ 300
||until 15 October 2019
|3rd installment||€ 300
||until 15 November 2019|
|4th installment||€ 300
||until 15 December 2019|
|5th installment||€ 300
||until 15 January 2020|
|6th installment||€ 300
||until 15 February 2020
|7th installment||€ 300
||until 15 March 2020
|8th installment||€ 300
||until 15 April 2020|
|9th installment||€ 300
||until 15 May 2020|
This tuition includes:
- Free access to all IBS facilities and general services
*The international student status is applied to students who:
- Are not nationals of a Member State of the European Union;
- Have foreign nationality different from that of a Member State and are legally resident in Portugal for less than two years, uninterrupted, on August 31 of the year in which they wish to join the ISCTE and children residing with them legally **;
- The nationality is not an African Portuguese speaking country, PALOP (As Deliberation of the Board of Management of ISCTE-IUL).
International Students must pay the whole tuition fee each year in a single lump sum at the enrolment.
** For residence time score effects in Portugal, does not fall time with a residence permit for study.
The application of international students to the masters of ISCTE-IUL is done online through the same portal as national students acess.
European Union (EU) and EEA (Iceland, Liechtenstein and Norway) citizens have the right to move to another EU Member State to live, study and work, but should contact the Department of Immigration and Border Control (SEF) after arriving in Portugal. Evidence will have to be provided of enrolment at ISCTE, as well as proof of health insurance coverage and sufficient financial resources.
Nationals of non-EU or non-EEA countries must apply for a study visa, which is a special permit granted to foreign students coming to Portugal. This visa must be obtained from the consular section of the Portuguese embassy or consulate in the country of residence. Should you have any doubts, please check with your local Portuguese embassy or consulate. The study visa may be granted on a multiple entry basis and is valid for one year.
The Portuguese Public Health System covers students from the EU holding a valid document issued by the health authority of the country of origin.
If you have private health insurance, ask your insurance company if it can provide extra medical coverage for your stay abroad. Be sure that your current health insurance policy is valid until the end of the programme. If you are not an EU citizen, check what documents you need to receive assistance in Portugal on your current health care plan. You must be sure you have appropriate medical coverage for the duration of your studies in Portugal.
ISCTE Business School gives the students the opportunity to apply to scholarships in order to help finance the tuitions.
You can also consult the credit options of the following financial institutions:
The ISCTE Business School strives to promote and develop a culture of merit. In order to highlight and reward the best students, and to value their individual effort and performance, the School has created incentives and goals for our students to strive towards.
Students who have concluded a Undergraduate Degree in an international or national university with at least one of the three international “Triple Crown” accreditations (AACSB, AMBA or EQUIS) and with a GPA (Grade Point Average) of between 15 and 20, on a scale of 0-20 are eligible to the Admission Award.
The Admission Award is indexed to the GPA as per the following table:
Undergraduate Degree GPA**
15 (on a scale of 0-20)
20% of the 1st year's tuition fee
16 (on a scale of 0-20)
40% of the 1st year's tuition fee
17 (on a scale of 0-20)
Full tuition fee of the 1st year’s Master Programme
** Students from International universities should submit their final classification to the conversion rule between ECTS echelons and the classification scale of the ISCTE Business School (from 0 to 20), according to the following:
“A” – Final classification between 16 and 20; “B” – Final classification between 14 and 15; “C” – Final classification of 13; “D” – Final classification between12 and 11; “E” – Final classification of 10; “F” – Final classification of 9 or below. Students whose evaluation on the above scale places them between two points should be given the award indexed to the lower evaluation.
To be eligible for the Admission Award, students must be accepted for a Full-time Master Programme managed exclusively by IBS.
The information herein is additional to the general rules of ISCTE-IUL which should also be read carefully.
See the regulation here.
*Subject to approval
Best Student Award
The ISCTE Business School awards a prize of €1,500 to the best student in each IBS Masters Programme.
For further information, please contact the IBS Master Programme secretariat:firstname.lastname@example.org
The MSc in Economics has an employment rate of 100% up to 12 months after completion of Programme. The sectors most represented in the recruitment of masters graduates are Audit & Consulting, Banking, Large Distribution & Retail and Telecommunications.
Some of the companies that hire masters students of IBS:
Getting a job
Students from European Union member states don't need, in most cases, a work permit and have better chances finding work, especially with Portuguese language skills.
Students from outside the European Union holding a study visa, may do complementary work while pursuing the studies for which the visa was granted. A work contract might be requested. For further information, please check the site of the Portuguese Service for foreigners and border affairs SEF (Serviço de Estrangeiros e Fronteiras).