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Master in Economics

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Key success factors• A position of excellence through the production of original intellectual work that creates a diffe-

rence in teaching and expertise, recognized for and by businesses and organizations; • Strong added-value relations with the real world via the capacity to create durably valuable,

mutually beneficial relationships with businesses, coupled with a long intellectual tradition;• A connection to the world through international networks, the regular presence of students and

teaching staff of many nationalities, and their international mobility and communication tools; • Efficient and innovating governance;• An openness towards the world because of its crossroads location at the center of Europe

and its ease of access and because of its multilingual culture, its multitude of frontiers and the dynamism of its exports

30 minutes from Maastricht and from Aachen1 hour from Brussels and from Köln2 hours from Luxemburg and Frankfurt2,5 hours from Paris3 hours from London.

Our Strategic Objectives• To strive for academic excellence; • To foster international relations; • To ensure the relevance of programmes and activities to a managerial career.HEC-ULg provides undergraduate and postgraduate training programs and conducts research activities, while promoting those human values, behaviors and attitudes that are essential for managers.

Our Strategic IdentityTeaching and research are organized around 6 peaks of excellence, which ensure coherence and expertise:• Asset & Risk Management;• Social Enterprises & the Social Economy;• Economic Analysis & Public Governance;• Supply Chain Management & Quantitative Methods;• Tax Institute; • Human Resources Management & Organizational Change.

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Facts and Figures

Do you possess a high level of intellectual curiosity and a desire to understand the society you live in? Do you think about the best ways in which to use the resources available to you to meet current challenges? Are you interested in the complexities of trade (goods, servi-ces, and information) and the economic impact of these?

Our Master in Economics (120 ECTS) is made for you!

The aim of HEC-ULg’s Master in Economics is to train economists who are able to understand and analyze a wealth of qualitative and quantitative data related to markets, consumer behaviors, company results, etc. and can make the data understandable and usable by others. Such analysis and the advice based on it should enable companies and governments to take routine or strategic decisions every day, in a globalized environment where technological change is increasingly rapid.

A general core curriculum (55 ECTS)The program is structured around a general core curriculum. This allows each student to acquire a solid basis of knowledge in economics-rela-ted subjects and to develop a deep capacity for analysis and a critical view of the infor-mation and the society around us.In addition to the general courses, this core curriculum also comprises a module on the History of Economic Thought (5 ECTS) and a transversal activity: Intercultural Studies (2 ECTS).All these courses are taught in English.

Total number of students: 2,200Percentage of international students: 15%

STUDENTS

80 Professors (Core Faculty), 105 Affiliate

Professors and Invited Professors (Adjunct

Faculty), 73 researchers (scientific staff) and 70

students enrolled in the Economic and Management

Science PhD Program

FACULTY

Bachelor’s and Master’s programs, each with a range of specializations, a Docto-ral program, an OpenBordersMBA, and a number of executive and company-specific programs

EDUCATIONAL PROGRAMS

5 departments, 11 research centers, or operating units, internationally active in various management fields

TEACHING & RESEARCH

Well-equipped facilities: several computer rooms; a wealth of bibliographical resources; a ‘Trading Room’ connected to real-time national and international mar-ket prices and providing financial simulationsUseful services: a Careers Service to facilitate the re-cruitment of managers; a complete e-learning platform that promotes interaction between teachers and stu-dents and between students themselves; partnerships with companies mean that grants can be awarded to our students abroad or to visiting foreign students

FACILITIES & SERVICES

A strong network of 14,000 Alumni around the world, working in all the

market and non-market sectors, including public and private outfits of all

sizes and organizational structures

ALUMNI

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Specializations (60 ECTS)We offer two specializations that provide you with rigorous summary and analysis skills based on modeling and econometric methods:

> Economic Analysis and Public Governance aims to give you high-level training in economic analysis and quantitative methods, in order to offer strategic solutions for the growth and governance of companies, NGOs, or public institutions.

This specialization prepares you for a career as manager or director in:

• SMEs and large companies• Regulatory agencies (energy, telecoms…)• Departments carrying out economic and statistical studies• International organizations (IMF, World Bank, EBRD…) and non- governmental organizations• Public finance services and other administrative offices• Public management• Health sector management• Teaching and research in economics.

> Economics and Finance offers you dual training in economics and finance. Financial markets play an important role in our modern economies. It is now indispensable to recognize and understand the strong interconnection between the financial sector and economic growth. The «Economics and Finance» option prepares you for a career as manager or director in:

• Banks or non-banking financial institutions, banking regula-tion institutions

• Large companies• Departments carrying out economic and monetary studies

• The National Bank of Belgium, Central European Bank• International organizations (IMF, World Bank, EBRD…)• Public finance services and other administrative offices• Teaching and research in economics.

Regardless of the specialization you choose, during the course of your Masters studies you will be required to undertake an internship, write an internship report and complete a final assessment project on the same topic. This specialization in a precise field of study should allow you to use the knowledge you have acquired to develop in-depth expertise. This expertise will be a stand-out advan-tage when attending job interviews.

A Skills Portfolio (5 ECTS) completes your theoretical training by adding a soft skills element. It gives you access to intensive workshops focusing on the acquisition of transversal skills.

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* > taught in englishitalic > optional

The Design of the Program

Core Curriculum Specialization Skills Portfolio

1st year 45 ECTS 15 ECTS

2nd year 10 ECTS 45 ECTS* 5 ECTS

*including courses (15 ECTS), internship (10 ECTS) and thesis (20 ECTS)

1st year (M1)ECTS

2nd year (M2)ECTS

45 10

Foreign Language (other than English and French)

3 Foreign Language (other than English and French)

3

Advanced Microeconomics 5 * History of Economic Thought 5

Public Finance 5 * Intercultural Studies 2 *

Game and Information Economics 5 *

International Macroeconomics 5 *

International Trade Economics 5 *

Industrial Organization 5 *

Advanced Macroeconomics 5 *

Econometric Methods 5 *

Intercultural Studies 2 *

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Economic Analysis and Public Governance

15 Economic Analysis and Public Governance

45

Topics in Empirical Economics 5 * Public Economics 5

Collective Choice and Budget Planning 5 Collective Choice and Budget Planning 5

Economic Theory of Competition and Regulation

5 * Economic Theory of Competition and Regulation

5 *

Introduction to Health Economics 5 Introduction to Health Economics 5

Development Economics 5 Development Economics 5

Labor Economics 5 Labor Economics 5

Economic geography 5 * Economic geography 5

European Economics 5 * European Economics 5 *

Public Finance and Economic Policy in Belgium and in Europe

5 Public Finance and Economic Policy in Belgium and in Europe

5

Introduction to Social Economy and Social Entrepreneurship

5 Introduction to Social Economy and Social Entrepreneurship

5

Topics in International Economics 5 * Topics in Empirical Economics 5 *

Thesis 20

Internship 10

Economics and Finance Economics and Finance 45

Topics in Empirical Economics 5 * Public Economics 5 *

Investments and Portfolio Management 5 *

Banking and Insurance 5 *

Empirical Methods in Financial Markets 5 * Tax and Law of Financial Institutions and Products

5

Fund Industry 5 *

Financial Risk Management 5 *

Financial Economics 5 *

International Finance 5 *

Thesis 20

Internship 10

SKILLS PORTFOLIO

Workshops 5 *SP

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Admission requirementsThe Master in Economics is open to undergraduate students who have completed a full university bachelor’s degree in Management (3 or 4-year Program). Other undergraduate students may also be accepted depen-ding on their professional and/or academic profile and the Admission Jury’s decision.

To apply, please submit the application form available on request: admission.be@ulg.ac.beYour application file (including all the requested documents) should be forwarded to: University of Liege - Admission Office, Place du XX-Août, 7-9 Bat A1, 4000 Liège – Belgium

Deadline for non EU applicants › end AprilDeadline for EU applicants › end August

Student’s personal development toolsNumerous possibilities are available to help you improve your personal development:

• A Skills Portfolio, composed of intensive workshops using very innovative and original methods such as drama, role-playing, musical creation, sports-based workshops for example. The focus is on the acquisition of transversal skills such as negotiation, written and oral communication, team leadership, critical thinking, etc. These workshops are taught in very small groups of students.

It is a unique opportunity to personalize your training and a quick and efficient way of showing evidence of these skills to recruiters!

• A compulsory internship in a company, in Belgium or abroad• 5-month study trip abroad • Several Junior Enterprises and Junior Companies managed by the students, providing services

to the community and consultancy work.

A participative teaching method and a strong international dimensionOur teaching uses numerous references to real and concrete cases, and even in-company immer-sion. It is centered on a task, readings, a project, simulations, or case studies, done either indivi-dually or in teams. Courses approach subjects from a resolutely international angle.The program’s Faculty has an international profile, and invites external conference speakers.We consider the development of language skills other than the mother tongue to be essential: the program includes the obligation to learn a second foreign language (Dutch, German, Spanish, or Italian) with the aim of achieving level C1 (according to the Common European Framework of Refe-rence for Languages) by the end of Master 2. The program also offers the possibility of studying a third language (beginner level).

Double Degree ProgramAt Master level, we have developed specific double degree agreements with several strategic partner universities. Through these value added agreements, during your master studies, you will have the opportunity to study for one year in one of these partner universities. After completion of your two-year program, you will receive a Master in Economics degree from HEC-ULg plus the degree of the partner institution. Up to now, we have developed double degree agreements with the University of Hohenheim and ISM University of Management and Economics (Vilnius). HEC-ULg International Relations team, in cooperation with academics, is currently working on other projects (among others with Universitat Autònoma de Barcelona). HEC-ULg is also part of the Uni-versity Network HERMES, a strategic alliance of 16 leading European universities.

InformatIon & ContaCtHEC Management SchoolUniversity of LiegeRue Louvrex 14B-4000 LiegeBELGIUMPhone : + 32 4 232 72 11hec@ulg.ac.bewww.hec.ulg.ac.be

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HEC Management School – University of LiegeRue Louvrex 14B-4000 Liege BELGIUMPhone : + 32 4 232 72 11 hec@ulg.ac.be

www.hec.ulg.ac.be

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