Knowledge Centers

Program Overview

by Super User.

The Research Masters programs at Nova SBE aim at training highly qualified independent researchers, in the fields of Economics and Finance, for positions in international academia and research institutions, as well as for top positions in business companies, financial institutions or governmental organizations. The focus is on endowing the candidates with state-of-the-art theoretical and empirical tools that allow them to advance the frontier of research and/or provide evidence-based policy or business recommendations.

The primary goal of the Research Master is to deepen the knowledge of theory in Economics or Finance and develop the research skills required for those who intend to continue their studies in the Doctoral Program. Thus the Research Master can work as the coursework phase of the Doctoral Program.

The Research Masters prepares students for the PhD program both at Nova SBE and in top international graduate schools. Around 40% of the Research Masters graduates hold or are about to obtain doctoral degrees from prestigious schools such as New York University or the University of Chicago.

 Research Masters Structure

The first year endows the students with the basic tools and exposes them to different fields of research in Economics, tailored to their individual interests. Research workshops are organized in January and June of the first year with the purpose of launching the students on a research path and matching them with a potential adviser.


First Year


Sep - Dec


Feb – May



Core Courses

Microeconomic Policy Analysis

Games and Markets


Research Workshop

Microeconometrics or Macroeconometrics


Research Workshop

Macroeconomic Analysis

Mathematics I

Mathematics II



Game Theory



10.5 ECTS

The second year covers advanced material in economic theory. Progression to the PhD program is conditional on proficiency in Microeconomic and Macroeconomic Theory, evaluated in comprehensive exams in June of the second year. The students also have to write a research paper which, together with the coursework, grants them the Research Masters in Economics diploma. 


Second Year


Sep - Dec


Feb – May




Core Courses

Microeconomic Theory I




Microeconomic Theory II


Comprehensive Exams


Work Project Completion and Defense

Macroeconomic Theory I

Macroeconomic Theory II

Advanced Mathematics

Advanced Econometrics




Work Project


Research Group


Research Group

This group meets every week over the two semesters. Some of the meetings work as a “matching seminar” where students are exposed to Faculty research interests with the objective of choosing a research topic and a supervisor. In the other meetings students present their own work. The participation in this seminar is compulsory for second year students. Other students are also encouraged to attend it.
More information here


  • Format
    The Research Masters in Economics or Finance is a full time Pre-Experience program, thus not suited for working students. It requires full-time commitment, including classes all day long.

    - Students are expected to complete their program in two years (four semesters). 

    - The Research Masters is entirely delivered in English, including exams, class-work, support materials and the Masters’ Work Projects. 

    Upon Completion
    Upon completion of the program the students are awarded a Research Masters degree in Economics or Finance.
    Students that only complete the coursework of the program receive a Post Graduate Certificate.
  • Who?
    To be admitted in the Research Masters Program, candidates must have an undergraduate degree in Economics or related fields, with a good level of mathematics.
    Candidates from other backgrounds will be considered but may be requested to attend a list of undergraduate courses to be defined by the Admissions Committee. Students' performance will determine admission in the program.

    Note that Nova SBE is temporarily not accepting new candidates for the Research Masters in Finance.


    - Until July 2013

    Results will be communicated approximately one month after the submission of the applications.

    Candidates must apply online. Click here.
    Additionally, candidates must send the following documents by email This email address is being protected from spambots. You need JavaScript enabled to view it.:

    - Letter of intent - in the applicant's own words;
    - Recommendations in the form of two letters of reference, either in sealed envelope or sent to the above email address, directly by the two referees of the applicant's choice

    The Admissions Committee may invite the applicant to a Skype or phone interview.

  • Fees
    1st Year – 2700 € per semester 
    2nd Year – 1650 € per semester and by each additional semester 

    Enrolment fee
    The enrolment fee must be paid after being accepted in the program, during the enrolment period defined by the school. Successful candidates will be required to pay an initial non-refundable, non-transferable 450 €  to guarantee their place on the program.

    Students will then be eligible for a 450 € reduction in their first semester fee, once they enroll.

  • Funding
    Nova SBE is able to offer tuition scholarships to the very best candidates.

    Our scholarships consist of a partial tuition waiver between 30%, 60% or 90% and are awarded based on the combination of the 3 following main factors: 
    · Contribution to life and community in previous academic studies
    · Extracurricular activities and social engagement
    · Academic achievements

    Students may also apply for positions as Teaching Assistants or Graders at Nova SBE. If you are interested in pursuing this opportunity please send an email to the This email address is being protected from spambots. You need JavaScript enabled to view it..

    Students enrolled on the Research Master Programs may eventually be able to receive financial assistance from the Universidade Nova de Lisboa, through its Social Services Departments

    Applicants that wish to apply for fellowships are encouraged to investigate the various alternatives:
    - FCT-Fundação para a Ciência e a Tecnologia, usually has doctoral fellowships available. Visit FCT's website
    - The Fundação Oriente awards scholarships for doctorate degrees as well as research work on subjects connecting Far Eastern countries to Portugal in any field of knowledge.

    The “Amélia de Mello” Award.
    Given by Fundação Amélia de Mello to the highest grade in the class-work leading to the Research Master (in Economics or Finance).

  • For more information please contact:

    Research Masters Office
    Graça Semedo
    This email address is being protected from spambots. You need JavaScript enabled to view it. 
    Tel: (+351) 21 380 16 00


Research Masters in Economics - Finance

by Super User.

The primary goal of the Research Master is to deepen the knowledge of theory in Economics or Finance and develop the research skills required, for those who intend to continue their studies in the Doctoral Program.

Thus the Research Master can work as the course work phase of the Doctoral Program.

This course work is followed by a comprehensive exam in economic or finance theory, which tests the strength and scope of the candidate’s education, ensuring that only those who are genuinely prepared to conduct research will proceed. Only upon approval in these comprehensive exams, with the grade of good, is the student allowed to apply for the PhD and to begin work on the doctoral dissertation, an original piece of work prepared under the supervision of an academic advisor.

After being approved in the exams, at the end of the Research Master, students will be able to obtain a Research Master Degree in Economics or Finance, when they publicly defend their project work, produced under the guidance of a supervisor.

The Research Master Program at NOVA SBE is a program aimed at providing a solid basis, at an advanced level, for students wishing to receive training and gain a competitive edge from a scientific standpoint.

The students that choose to proceed and enter the Doctoral Program, will have access to a series of workshops and advanced courses taught by researchers in their respective areas.