New Economic School


The New Economic School, founded in 1992, is a private graduate school of economics in Moscow. NES’s degrees are highly valued both in Russia and abroad. The mission of the New Economic School is to benefit Russia's private and public sectors through excellence in economics education and research.

The core of NES is its resident faculty of 30 young economists with PhDs in economics and finance from the world’s leading universities, including Harvard, MIT, Columbia, NYU, LBS, and Wisconsin-Madison. NES faculty represent Russia in the global economic community, participating in international research conferences and publishing articles in top peer-reviewed international journals, including Econometrica, American Economic Review, Quarterly Journal of Economics, Review of Economic Studies, Journal of Economic Perspectives, Journal of Economic Literature, Journal of European Economic Association, Journal of Finance, Journal of Business, and American Political Science Review.

NES is ranked the best economics institution in the former communist countries in the research ranking by RePEc (Research Papers in Economics). SSRN (Social Science Research Network) ranks NES in the top 30 economics departments in the world. NES's think tank CEFIR (Centre of Economic and Financial Research) is ranked in the top 25 economic think tanks in the world by RePEc. Further, NES launched two other research centers in 2011: Center for Demographic Studies and Center for New Media and Society.

NES offers three academic programs: a two-year master program in economics, a professional development program in finance, and an undergraduate program jointly with the Higher School of Economics. NES is also active in executive education. In 2011, together with one of the world's leading business schools INSEAD, NES launched an executive education program developed specifically for 500 top managers from Sberbank. The program’s curriculum corresponds to the first year of a standard business school MBA and offers a unique combination of two methodological approaches: face-to-face training with interactive business case discussion and teamwork, and on-site virtual training.

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This school also offers:


Master of Arts in Economics

Campus Full time September 2017 Russia Moscow

This program has brought NES its high reputation over its twenty years of existence. The MAE diploma is highly valued both in Russia and internationally. [+]

Master of Arts in Economics The Master’s of Arts in Economics (MAE) program, founded in 1992, is the New Economic School’s first and primary program. This program has brought NES its high reputation over its twenty years of existence. The MAE diploma is highly valued both in Russia and internationally. The MAE academic program takes students through two years of study. It is similar in content to masters’ programs and the first two years of PhD programs in the best American and European economics departments. The MAE program brings students to a deep understanding of the foundations of modern economic education – microeconomics, macroeconomics, econometrics, and more specific fields of modern economic science. Throughout both years of study, students take English language courses. They master the peculiarities of academic writing and get valuable experience giving scientific presentations. All students also take part in the Research Seminar, which offers a framework for student research complete with decoted faculty supervision. This collaborative project culminates with students writing and defending Term Papers and Master’s Theses. The academic year (from September to June) contains five seven-week modules, each ending with a week-long examination session. Early classes cover economic disciplines at the undergraduate level. A high level of math preparation together with rigorous classes allows students to master the basic concepts of economic theory within several months. The curriculum of the second half of the program’s first year contains intermediate- and advanced-level courses, some of which correspond to the first-year graduate coursework at PhD programs in economics. All first-year courses are obligatory; a typical course entails two lectures and one discussion session per week. Teaching assistants grade weekly homework assignments. As a rule, homework grades factor into final course grades, and beyond the final exam and homework assignments, a course may also include a midterm exam, essays, quizzes, and other forms of assessment. All components of the education process at NES require students to develop both deep comprehension of the fundamentals of economics and consistent academic self-discipline. The second-year curriculum requires each student to take advanced graduate courses (Advanced Macroeconomics and Advanced Econometrics) as well as 15-20 module-long elective courses. Each student is to take at least three elective courses from six general fields of modern economic theory: Development Economics, Industrial Organization, International Economics, Labor Economics, Public Economics, and Econometrics. Students select the remainder of their electives from a number of courses in more specialized fields such as finance, data analysis, development, and advanced macroeconomics. In addition to this coursework, all second-year MAE students participate in research projects under supervision of NES professors, providing them with crucial research experience during their studies. Since 1995, NES has facilitated a few hundred research projects in all fields of economics, both theoretical and applied. Research groups include 4-12 students and 1-3 professors. The formation of research groups is competitive and takes into account students’ research interests. The Research Seminar meets weekly and gives students the unique opportunity to keep up with the latest developments, new ideas, facts, and methods relevant to their fields. Students in the Research Seminar learn to work with relevant literature, write research papers, and give scientific presentations. By January of the second year of study, each student writes and defends their own Term Paper, and by June their own Master’s Thesis. Lastly, in spring the MAE program holds a conference whose main presenters are the second-year MAE students. [-]

Masters in Finance Programme (MiF)

Campus Full time September 2017 Russia Moscow

The mission of the New Economic School (NES) is to benefit Russia’s private and public sectors through excellence in economics education and research. [+]

Masters in Finance Program (MiF) Welcome to MiF at NES! The mission of the New Economic School (NES) is to benefit Russia’s private and public sectors through excellence in economics education and research. NES was created in 1992 to introduce to Russia a master’s degree program in economics. The success of this program turned NES into the best economics institution not only in Russia, but in all of Eastern Europe. Our faculty publishes in the leading international journals and prominently represents Russia in the international economics and finance profession. In January 2007 we launched a new Masters in Finance (MiF) program supported by Morgan Stanley to reach early- and mid-career finance professionals. In June of 2008 we awarded diplomas to the first cohort of MiF graduates. The students and the alumni report that our dreams about the great finance program in Moscow are coming true. We have a program that both meets international standards of quality and provides knowledge useful in the daily life of the Russian finance community. There are more than 100 graduates of MiF program. The Masters in Finance program relies on the permanent faculty in economics and finance, and visiting professors from the leading universities and business schools in the world. The key advantage of the program is its unique cooperation with the private sector. Leaders of the Russian - and international - finance community participate in shaping the program’s curriculum, give guest lectures and teach full courses. This cooperation helps the program to fulfill its goal of providing students with skills based on cutting-edge financial research and applicable to the modern world of finance. The success of our new program requires more than just the excellent permanent and visiting faculty and cooperation with the private sector. 20 years of NES history has taught us that the School’s most valuable asset is neither faculty, nor staff, nor academic resources or curriculum; it is our students. Since 2007, the Masters in Finance program has attracted excellent students. Our goal is to continue to bring in the best and brightest professionals from the Russian finance community - those who will be able to elevate their field to a new level. Only the most talented and motivated students will make the Masters in Finance program what we envision it as: the best finance program in Russia, a path to a successful career, and an essential source of future leaders for Russia's economy and society. [-]