Applied Economics

Applicants who are (will be in the academic year 2021/2022) graduates of a Bachelor's, Master's or Engineering degree (graduates who have completed their first or second cycle of higher education) will be included in the admission procedure. In the case of a different field of study, it will be assessed whether the studies completed in that field are related to the studies at FSEV UK in that field of study.  

The knowledge of microeconomic theory and macroeconomic theory based on mathematical models of economic processes, operations research, statistics and econometrics is an essential prerequisite for a candidate to study the study programme in applied economics. He/she is expected to be able to work with statistical, econometric and optimization software such as Matlab, Eviews or Frontline in MSExcel at a basic user level. Basic knowledge and experience in data collection, processing and analysis is an important attribute of the candidate.  

The graduate of the Master's degree programme in Applied Economics will acquire knowledge of microeconomic theory and macroeconomic theory based on mathematical models of economic processes, operations research optimization, econometrics, mathematical modelling of socio-economic processes, modelling of banking operations, international economics, actuarial mathematics and statistics. In addition, the student will gain knowledge in monetary policy, game theory and payments.  The course also includes the use of software products in statistics, econometrics and optimisation (such as Matlab, EViews and Frontline systems), as well as a student placement course where students can test their knowledge and gain practical skills in partner organisations.  The structure of the MSc in Applied Economics is designed to allow the student to adapt his/her study plan during the course of his/her studies through compulsory electives, so that he/she can specialise in either macroeconomic and microeconomic modelling, statistics and econometrics and/or optimisation and finance. 

This knowledge will enable him/her to identify and analyse socio-economic problems, to build economic and mathematical models of them and to find appropriate methods for solving the problems. In doing so, he/she will be able to use adequate software, verify the propositional ability of the models used. He/she will also be able to apply statistical methods of data analysis, understand statistical data and methods of their evaluation. He/she will be able to use the acquired knowledge in investment decision-making and in the field of insurance. He/she will be able to analytically evaluate problems arising in the modern information environment, in the management of manufacturing and non-manufacturing enterprises, in banks, in the insurance industry and on stock exchanges. As a result, he/she will be able to implement the results of quantitative methods in the management of manufacturing and non-manufacturing enterprises, profit and non-profit organizations. He/she will therefore also be able to work in a managerial capacity in central management bodies. In the course, systematic attention is paid to the economic interpretation of mathematical models and the interrelationships of the various models. Knowledge of the English language is a prerequisite. The graduate is therefore able to conduct professional communication in English, to keep in touch with developments in the field and to participate in the work of top management. 

Graduates' employability:

Investment executive (manager)  
Project specialist (project manager)  
Specialist in optimisation and rationalisation of work (standard setter)  
Controlling specialist  
Analysts in the field of management and organisation of work  
Process optimisation specialist  
Data analyst  
Financial analysts and specialists in finance, insurance and other financial services  
Pension fund portfolio specialist  
Mutual fund portfolio specialist
Economic analyst, forecaster  
Specialists in economics  
Specialist in national economy  
Analyst of the labour market and the social situation of the population in public administration