Application

Entry requirements

To attend the Master program in Economics and Finance it is necessary to demonstrate to have strong knowledge of mathematics, economics and statistics at the undergraduate level.

Students with an Italian degree (ex. DM 270 /04) of the following classes:
l-7 Ingegneria civile e ambientale
l-8 Ingegneria dell'informazione
l-9 Ingegneria industriale
l-16 Scienze dell'amministrazione e dell'organizzazione
l-18 Scienze dell'economia e della gestione aziendale
l-20 Scienze della comunicazione
l-30 Scienze e tecnologie fisiche
l-31 Scienze e tecnologie informatiche
l-32 Scienze e tecnologie per l'ambiente e la natura
l-33 Scienze economiche
l-35 Scienze matematiche
l-36 Scienze politiche e delle relazioni internazionali
l-37 Scienze sociali per la cooperazione, lo sviluppo e la pace
l-41 Statistica

and students with an Italian degree (ex DM 509/99) in the classes equivalent to those listed above can apply.

Candidates can also enroll to the programme from undergraduate classes other than those listed above after positive evaluation of the Collegio Didattico or its delegates (an Admission Committee or the President of the Collegio Didattico) if they substantively satisfy the access requirements.

Candidates lacking of one or more of the following minimum entry requirements: will not be assessed by the Admission Committee:

a) at least 6 ECTS in the area of mathematics (MAT/01 MAT/09, SECS-S/06).
b ) at least 6 ECTS in the statistical area (SECS-S/01 SECS-S/05, SECS- P05): a statistics course or a basic econometrics one.
c) at least 12 ECTS in the economic area (SECS-P/01 SECS-P/03, SECS-P/06): at least one course of Microeconomics and at least one course of Macroeconomics.
d) evidence of computer skills (ECDL) or 3 ECTS in Computer Science (INF/01, ING-INF/05) or equivalent diploma.
e) As for the knowledge of the English language, a level C1 or higher (according to CEFR), properly certified (preferably through the TOEFL-test), is required. In this regard, the certification issued by SLAM-UniMI is accepted. On the web-site of the MEF-program, interested students may find the complete list of certifications of knowledge of the English language (level C1, or higher) that are recognized by the University of Milan.

As for the English language knowledge, a level C1 or higher (according to CEFR) properly certified (preferably through the TOEFL-test) is required. In the absence of any certification the Admission Committee reserves the right to not admit the candidate to the programme.

Each applicant will have to submit, together with the application, a detailed curriculum vitae. Failing to provide this document implies that the applicant will be excluded from the selection.

Students with foreign qualification are expected to meet the substantive requirements equivalent to the minimum requirements for students with Italian title. Such checking of the pre-requisites will be conducted by an Admission Committee appointed by the Faculty Board (Collegio Didattico).

Applicants who meet the minimum entry requirements (irrespective of their nationality) are assessed by the Admission Committee according to the following criteria grid:

Criterion: Academic curriculum
Description: length (i.e., number of years taken) and quality (i.e., average grade in the overall number of exams taken) of the undergraduate degree as well as the final graduation mark
Maximum score: 80

Criterion: Choice coherence
Description: coherence between the previous academic curriculum/professional experience (if any) and the learning objectives of the master's degree in Finance and Economics
Maximum score: 20

Applicants who obtain a score equal or less than 70 points are not admitted.
Applicants who obtain a score above 70 points but less than 80 points will be invited to an oral interview, held in English language and exclusively done via electronic devices (e.g.: via skype). The interview is aimed at examining in more depth the applicants background knowledge and motivation.
Applicants who obtain a score greater or equal to 80 points and satisfy the English knowledge requirements can be subject to further interview before admission.
Applicants not submitting any English knowledge certification (preferably the TOEFL-test) will be excluded even if they exceed the 80 points-threshold.


Students without an Italian degree or diploma can obtain 3 credits in Additional language skills: Italian by proving an Italian language proficiency at level A2 within the Common European Framework of Reference for Languages (CEFR). This level can be assessed by the end of the degree course in the following ways:

-by submitting the language certificate achieved no more than three years prior to the submission, at level A2 or higher, recognised by the University (the list of recognised language certificates can be found at: https://www.unimi.it/en/node/349/). The language certificate must be uploaded through the service https://informastudenti.unimi.it/saw/ess?AUTH=SAML, by choosing the category SLAM;
-by an entry-level test, organised by SLAM, which can be taken at the beginning of every semester.

Students who fail to reach level A2 will have to attend a 60-hour Italian course organised by SLAM and to pass the final test during the I semester of the second year of study in order to earn 3 ECTS credits of Additonal Language Skills: Italian.
Deadlines

Admission

Application for admission: from 15/03/2022 to 30/06/2022

Application for matriculation: from 01/04/2022 to 16/01/2023


Attachments and documents

Admission notice


Please note

Non-EU visa applicants are required to apply for admission no later than 31 May 2022. Applications submitted after the deadline will not be evaluated and it will in no case be possible to request the refund of the admission fee.

Admission

Applicants  who meet the minimum entry requirements (irrespective of their nationality) are assessed by the Admission Board according to the grid below. 

Applicants who obtain a score equal or less than 70 points are not admitted.

Applicants who obtain a score above 70 points but less than 80 points will be invited to an oral interview held in English language and exclusively done via electronic devices (e.g.: via Skype).

Applicants who obtain a score equal or greater than 80 points and satisfy the English knowledge requirements might be admitted without any interview.

Applicants not submitting any English knowledge certification (preferably the TOEFL test) will be excluded even if they exceed the 80 points-threshold.

  • Criterion: academic curriculum (maximum score: 80)

Length (i.e., number of years taken) and quality (i.e., average grade in the overall number of exams taken) of the undergraduate degree as well as the final graduation mark

  • Criterion: choice coherence (maximum score: 20)

Coherence between the previous academic curriculum/professional experience (if any) and the learning objectives of the Master’s degree in Finance and Economics

Applicants who obtain a score above 70 points but less than 80 points will be invited to an oral interview held in English language and exclusively done via electronic devices (e.g.: via Skype). The interview is aimed at examining in more depth the applicants' background knowledge and motivation.

For an idea of the appropriate level of knowledge, competences, and skills, candidates may consult the following textbooks:

Mathematics

Topics: Calculus, Linear Algebra

Suggested reference:

  • Sydsæter, K., Hammond, P. (2008) Essential Mathematics for Economic Analysis, (3 edition), Pearson. Chap: 1-10 (Calculus I), 15-16 (Vector and Matrices)
  • Simon, C.P., Blume, L. (2010) Mathematics for Economists, W. W. Norton & Company

Economics

Topics: Principles of Microeconomics: Consumer theory; Intertemporal choice; Uncertainty; Market equilibrium; Producer theory; Forms of market; Game Theory

Suggested reference:

  • Varian H. (2009) Intermediate Microeconomics. A Modern Approach, 8th edition, Norton, New York, N.Y. Chapters: 1-6; 10; 12; 14-16; 18-28.

Topics: Principles of Macroeconomics.

Suggested reference:

  • Blanchard O. (2010) Macroeconomics, 5th edition, Pearson Prentice-Hall, Upper Saddle River, N.J., 2010.

Statistics

Topics: Elementary Probability and Random Variables; Descriptive Statistics;  Statistical inference.

Suggested references (any of those):

  • Trosset M.W. (2009) An introduction to statistical inference and its applications with R, CRC Press.  Chapters: 3, 4, 5, 8, 9, 10, 11, 14.
  • Ross S. (2010) Introductory Statistics, 3d Edition, Elsevier
  • Moore D., McCabe G.P., Craig B. (2012) An Introduction to the Practice of Statistics, 7th edition, W.H. Freeman & Company

Econometrics

Topics: Linear Regression Model With One or More Regressors: Estimation and Testing, Instrumental Variables.

Suggested reference:

  • Stock J., Watson M. (2010) Introduction to Econometrics, 3rd Edition, Addison-Wesley.
Further information

University fees

For students enrolled on bachelor’s, master’s and single cycle degree programmes are divided into two instalments of different amounts and with different payment deadlines:

  • the first, corresponding to the minimum amount, is the same for all students 
  • the second - technically referred to as an ‘all-inclusive fee’-  that is variable.

Students can also be entitled for tuition fee reductions such as:

  • lowering for students who meet high merit requirements 
  • fixed amounts calculated on the basis of the student's citizenship group for those with income/property abroad
  • support for students who have political refugee status.

More info at: Fees - current academic year

Scholarships and benefits

The University also provides a range of financial benefits to students meeting special requirements (merit, financial or personal conditions, international students), including:

Students who decide to study in Italy often find themselves thrown into a system and a culture which are very different from those of their own countries; they must also deal with unfamiliar and, at times, complex bureaucratic procedures.

At our University they can now count on the Welcome Desk a service designed for students, doctoral students and interns who have come to Milan for the first time, but also to those who already live in the city and need to verify the validity of academic qualifications obtained abroad in order to enrol on one of our courses.

The Welcome Desk is aimed to be the international students’ point of reference for all the initial necessities of their new adventure in Milan and at the University.

The Welcome Desk has put together a short guide – that you can download here to outline the various steps you need to take in order to obtain documents, to enroll on a course, to take an Italian language course, take advantage of the services and opportunities we offer, to live and get around in the city of Milan.

Welcome Desk via S. Sofia, 9/1 – 20122 Milan

InformaStudenti service, selecting the "International" category

The office only receives by appointment.
In order to fix an appointment, you can use the service InformaStudenti (https://informastudenti.unimi.it), selecting ‘First year international students’ from the drop-down menu.
Applicants who are not enrolled, yet, can register to the service as external user.