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Programme overview

We train professionals for top-ranking banks, foundations, financial and research institutions, that are in demand on the global labor market.

2007 saw the start at ICEF of the international master’s program created with the academic support from The London School of Economics (LSE). With skills requirements identical to those of the industry, the program brings together the Russian traditions of scholastic education and the British expertise in delivering master’s degree programs.

Extensively supported by practicing experts, we offer comprehensive training in Economics, Finance, and Econometrics that students complete over a short period of time. It allows our alumni - a total of almost 400 – to find employment at investment banks, at research institutions globally, and domestically.

The programme is delivered in close cooperation with employers. For instance, a scholarship fund is established by VTB Bank for the best-performing students, specialists from leading companies conduct courses and master classes, job offers are submitted to our Career Centre on a regular basis. The contacts the programme and its professors maintain with the international research community enable our students to engage in research, which they do also via ICEF International Laboratory of Financial Economics.

Programme requirements

Since instruction is in English, candidates are expected to have advanced English language skills. Candidates should be able to produce IELTS (≥6.0), TOEFL (≥80), BEC V (grade A), BEC H, FCE (grades A, B), CAE, CPE certificate or sit an internal examination. One more essential requirement is the in-depth knowledge of mathematics (please click here for the full list of topics). Requirement number three is stay focused on studies. This master’s degree programme is what guarantees solid knowledge and skills, as well as career opportunities, but juggling it with work is highly unrecommended.

2 years
Full-time Programme
25 state-funded places
10 fee-paying places
12 fee-paying places for international students
Instruction in English

Programme advantages

  • consistency with UK Quality Assurance Agency for Higher Education standards;
  • instruction shared by Russian finance practitioners and visiting professors from foreign universities;
  • faculty staff with PhD degrees from USA’s and Western Europe’s leading universities;
  • individual learning paths: office hours, mentorship programme, career guidance, wide selection of electives, internship opportunities;
  • alumni association: those already in the industry mentoring students and sharing job offers before they go public.



Our courses are designed to equip you with:

  • current methods of statistical and econometric analysis;
  • ability to deal with massive arrays of information, retrieve, verify, supply and synthesize missing data;
  • ability to make core forecasts of corporate financial performance, financial and industry-specific markets performance, and various economic variables;
  • presentation skills, article writing and skills in reporting analytics to expert communities; and
  • principles of and legal framework for professional standards.

Alumni career paths

Employees at:

  • Sberbank CIB
  • Morgan Stanley 
  • VTB Capital
  • Goldman Sachs
  • Barclays 
  • HSBC 
  • Credit Suisse 
  • Fleming family and partners
  • Citi Group
  • McKinsey & Company
  • RF Central Bank
  • Raiffeisen bank
  • Xenon Capital Partners

PhD candidates at:

  • University of California, Berkeley
  • University of Chicago
  • University of California, San Diego
  • University of Pennsylvania
  • University of Wisconsin, Madison
  • University of Rochester
  • University of Minnesota
  • Duke University
  • London School of Economics
  • London Business School
  • Wharton Business School
  • Bocconi University
  • Toulouse School of Economics
  • University of St. Gallen

How to enroll

To apply to HSE ICEF, please prepare your portfolio to help us assess your qualifications.