International Trade, Finance, and Development (ITFD) is a demanding master program that combines rigorous analytical training with a focus on policy. The course starts with a set of classes in growth, finance, trade, and statistics, and then proceeds to more applied topics. Starting in the second term, students can chose one of two specialized tracks – development, and international trade and finance. Students choose from a wide array of courses, from evaluating development programs to the dynamics of foreign exchange markets. In addition, students prepare a policy project that allows them to apply the skills acquired. In the third term, outside experts share their experiences of applying economic analysis to real-life problems, whether it is in reshaping policy, devising trading strategies, or helping children in Africa.
The ITFD program faculty have worked on a wide range of policy issues related to topics covered in our program. They have held academic positions at MIT, NYU, Maryland, Chicago, Stanford and Cambridge, and have worked at international organizations – from the World Bank to the ECB – and in private sector firms, either as staff members or consultants. Each year in the spring term, leading policy specialists from international organizations, NGOs, or private corporations join the program faculty to lead a series of policy courses that provide a real-world perspective on topics covered in class.
Students complete a thesis at the end of the academic year under the supervision of a faculty member, allowing them to specialize in a policy topic of their choice. Program graduates will be well-equipped for employment in development organizations, NGOs, government agencies, central banks, multinational firms, and investment banks; others tend to join highly selective doctoral programs.
Upon successful completion of the program, students will receive a Master Degree in Specialized Economic Analysis awarded jointly with the Universitat Autònoma de Barcelona and the Universitat Pompeu Fabra.
The ITFD program is a full-time nine-month master program structured in three terms: Fall term (from September to December), Winter term (from January to March) and Spring term (from April to June). For more information please download the academic calendar.
Students are strongly advised to take the Math and Statistics review course offered in September. More information is available on the ITFD courses page.
The degree requires the successful completion of 60 ECTS (European Credit Transfer System) credits of graduate courses (6 credits are equivalent to a 40 hour course), some compulsory and some elective. The students' final program must be discussed with and approved by their Master Director.
The academic performance of each student is reviewed regularly. Attention is given to the maintenance of normal academic progress, through a combination of formal written examinations and coursework. Core courses will award grades. Some optional courses may be evaluated on a pass/fail or pass with honors/pass/fail basis.
The ITFD program takes place at the Ciutadella campus at Universitat Pompeu Fabra in central Barcelona. The campus is within walking distance of both the beach and the city's financial, cultural and governmental centers. Students can take advantage of a wide array of services and activities offered by the UPF.