Our Program
Applicant's Profile
The Master of Economic Theory is primarily tailored for individuals who have completed their undergraduate studies in Economics or related fields, possess strong quantitative skills, and demonstrate a keen interest in pursuing an academic career. The program predominantly attracts students who wish to pursue an Economics PhD at top universities worldwide. Additionally, ITAM offers a PhD program for those who choose to continue their studies at our institution. While the Master's program is open to students from diverse backgrounds upon completing their undergraduate studies, it is essential to note that most of our courses are conducted in English, and a solid foundation in quantitative skills is required. Proficiency in linear algebra, calculus, and statistics is a prerequisite for enrollment.
With over 20 years of experience, our Master's program has gained a strong reputation. During this time, more than 120 of our students have been successfully admitted to PhD programs globally. Notably, 12% of our students secured placements in the top three programs (Harvard, MIT, and Stanford), while 60% were admitted to universities ranked within the top-20 worldwide.*
* According to the US News 2022 Economics PhD ranking.
Graduating Student Profile
Our Master program academically prepares students to enroll in Doctoral level courses. Students will acquire the skills, discipline and knowledge required to excel in their PhD. They will gain experience doing academic research and familiarize with the rigor that scientific research entails.
10 Reasons to study the Master in Economic Theory at ITAM
1. A program designed to study a PhD
The Master in Economic Theory is a leading program in Mexico and Latin America to prepare students with the required skills to succeed at an Economics PhD program. In fact, it is the only Master program in Mexico designed with this specific purpose in mind.
2. Courses taught by specialists
The math and statistics courses, which give the foundation for the economics’ courses, are taught by the faculty from our Math and Statistics Department. As for the economics’ courses, those are taught by our full time faculty affiliated to ITAM’s Center for Economic Research.
3.Positioning of graduates abroad
The Master in Economic Theory has more than 20 years of experience placing students at top Economics PhD programs in the U.S. and worldwide.
4. Faculty affiliated to the ITAM Economic Research Center
All our faculty affiliated to the Center for Economic Research dedicates most of their time to develop high-quality research papers in a great variety of topics. To learn more about our faculty’s areas of expertise and developed research, visit the Center of Economic Research’s webpage.
5. Research projects under the supervision of our faculty
The students in the Master of Economic Theory develop research projects under our faculty’s supervision, which later become their thesis and writing samples for applications. This is part of the Master’s program curriculum. Through this, they begin to develop their research abilities and learn how to complete a research project of their own.
6. ITAM Economic Research Center Seminars
The Center for Economic Research also organizes weekly research seminars (link). Researchers from leading worldwide universities are invited to present their most recent work. Students are invited and motivated to attend.
7. Links with Economics Departments at universities around the world
Our seminar has contributed to strengthen our Center for Economic Research network. This has importantly contributed to build an international reputation of being one of the leading research institutions in Latin America. This benefits our students when they apply to PhD programs by making ITAM and our program recognized worldwide.
8. Scholarship Programs
ITAM has a generous scholarship program for Master in Economic Theory students. Those students with a high performace receive a 100% scholarship.
9. PhD Program
Those students that finish the Master in Economic Theory program and wish to continue their PhD studies at ITAM, can do so in our PhD program.
10. Worldwide program
The Master of Economic Theory welcomes applications from students of all nationalities and backgrounds.
Abilities that you will develop
Our students develop the knowledge and technical skills required to successfully enroll in a top Economics PhD program. It also promotes that students get involved with our faculty in research projects to begin developing research experience.
After graduating
Most of our students apply and enroll in Economics PhD programs at high-level universities in the U.S. and worldwide. Those who do not enroll at PhD programs sometimes enroll in other graduate programs or become employed at the public or private sector. Our graduates who wish to continue their studies at ITAM can also do so in our Economics PhD program.
Program Coursework
I
First Semester
ECO-51111 Consumer and Producer Theory
Créditos: 6 Departamento Académico de Economía
EST-51104 Econometric Principles
Créditos: 6 Departamento Académico de Estadística
MAT-54109 Mathematical Analysis I
Créditos: 6 Departamento Académico de Matemáticas
II
Second Semester
ECO-51112 General Equilibrium
Créditos: 6 Departamento Académico de Economía
ECO- 50213 Advanced Microeconometrics
Créditos: 6 Departamento Académico de Economía
MAT-54110 Mathematical Analysis II
Créditos: 6 Departamento Académico de Matemáticas
ECO-52111 Dynamic Macroeconomics I
Créditos: 6 Departamento Académico de Economía
III
Third Semester
ECO-51113 Game Theory
Créditos: 6 Departamento Académico de Economía
ECO-50514 Advanced Macroeconometrics
Créditos: 6 Departamento Académico de Economía
ECO-52112 Dynamic Macroeconomics II
Créditos: 6 Departamento Académico de Economía
Elective
IV
Fourth Semester
MAT-54130 Measure Theory
Créditos: 6 Departamento Académico de Economía
Elective
Elective
International Students
We welcome applications of students from all nationalities. ITAM is a non-discriminatory institution which welcomes diversity. All our courses are taught in English. In addition, our Exchange Office offers Spanish courses and different resources to ease international student’s adaptation to a Spanish-speaking country.
Moreover, Mexico City is a cosmopolitan capital with an important migrant presence. Historically, it has welcomed citizens from a wide range of nationalities.
Program requirements and admission process
To apply to the Master program, the candidate must comply with the following requirements:
1. Completed bachelor’s degree.
2. Obtain a minimum score of 160 points in the quantitative section of the GRE general test.
3. Obtain a minimum score of 90 points in the TOEFL or prove an equivalent English proficiency.
4. Meet the program’s course pre-requisites: multivariable calculus, linear algebra, probability theory, statistical inference and intermediate microeconomics and macroeconomics. The program director might request your official transcripts and some course syllabus to prove that you meet these course pre-requisites.
5. Complete the paperwork process required by ITAM’s admission office.
The admission office will let all applicants know if they were accepted to the program. For further reference, request our calendar of admission process to the Admissions Office.
Financial Aid
ITAM has a very generous scholarship program for the Master in Economic Theory students, including those coming from abroad. All high performing students receive a scholarship that covers between 30 and 100 percent of the tuition cost. To be eligible for this benefit, students must accomplish a minimum GPA, be enrolled full-time and actively participate in research activities. We also motivate our students to become teaching or research assistants with our faculty members.
