Graduate Programme

Analysis and Policy in Economics (APE)

The APE Programme offers high-level, research oriented courses in theoretical and applied
economics. It is well-established as one of the leading graduate programmes in Economics in
Europe, and many of its former students hold positions in top European and U.S. universities,
as well as in international organizations, public administrations and central banks. The APE
programme is jointly organized by a number of top French academic institutions: EHESS,
ENS, Ecole des Ponts Paris-Tech and University Paris 1 Panthéon-Sorbonne.

APE students benefit from the research environment of the Paris School of Economics,
internationally recognized as leader in environmental and demographic economics,
international and development economics, labor economics and economic theory,
macroeconomics, public policy evaluation. In terms of the curriculum, the APE graduate
programme offers a wide range of courses thanks to the diversity of the academic
institutions involved.

For students who receive the master degree, the primary career paths are non-academic
positions in public administrations, banks and insurance companies as Economists, Analysts
and Statisticians - as well as pursuing in a PhD programme.
The Paris School of Economics

The Paris School of Economics is a French research center of

international standing in Economics, resulting from the merger
of leading research and teaching institutions: CNRS, Ecole des
Ponts, EHESS, ENS, INRA and University Paris 1. It brings
together more than 500 students enrolled in Master and PhD
programmes, entirely in English.

APE teachers are international experts in their field:

Hippolyte d’Albis, Luc Arrondel, Antoine d’Autume, Luc Behaghel, Agnès Bénassy-Quéré,
Florin Bilbie, Francis Bloch, Jean-Marc Bonnisseau, François Bourguignon, Bernard Caillaud,
Christophe Chamley, Jean-Bernard Chatelain, Mireille Chiroleu-Assouline, Andrew Clark,
Denis Cogneau, Daniel Cohen, Olivier Compte, Fabrizio Coricelli, Bernard Cornet, Gabrielle
Demange, Lionel Fontagné, François Fontaine, Philippe Gagnepain, Stéphane Gauthier,
Pierre-Yves Geoffard, Roger Guesnerie, Marc Gurgand, Jean-Olivier Hairault, Jean Imbs,
Nicolas Jacquemet, Philippe Jehiel, Michel Juillard, Frédéric Koessler, Sylvie Lambert, Karen
Macours, David Margolis, David Martimort, Eric Maurin, Katrin Millock, Thomas Piketty,
Sandra Poncet, Jérôme Pouyet, Xavier Ragot, Hillel Rapoport, Ariell Reshef, Lise Rochaix,
Gilles Saint-Paul, Katheline Schubert, Claudia Senik, Jean-Marc Tallon, Olivier Tercieux, Jean-
Philippe Tropeano, Thierry Verdier, Bertrand Wigniolle, Ekaterina Zhuravskaya...
Career Opportunities
For students with the Master degree, many choose to continue studying within a PhD
programme (at PSE or else). Others enter directly the professional world as economist and
statistician in national administrations in France and other countries, or in international
organizations, bank and insurance companies.

The career opportunities for young PhDs are academic positions in French or international
universities, research institutions and international organizations. Students benefit from the
excellence of the PSE when entering the Academic Job Market.

Some examples of entities Alumni are working at: Air France KLM, AMSE, AXA France, Bank
for International Settlements, Banque de France, Berkeley University, BNP Paribas, European
Central Bank, Harvard, J-PAL/MIT, New York University, OECD, Paris School of Economics,
Réunion des Musées Nationaux, TSE, World Bank, Yale…

Undertaking a PhD at PSE

Students can access the PSE doctoral programme
(“École Doctorale d’Économie ED465”) after they have
completed, with the required academic results, a PSE
Master programme. The thesis work, which is
necessary training for research, is carried out under
the direction of a thesis supervisor, with the support
of a thesis committee. In an encouraging environment
with high academic standards, PSE offers exceptional scholarly training, as shown by the
prizes won every year by our young doctors, notably : Young Economist Award (G. Zucman,
N. Guyon…), AFSE Thesis Prize (F. Henriet, G. Cassan…), Banque de France (F. Le Grand, J.
Hagenbach, S. Osotimehin…).
APE Master Programme: Detailed Curriculum
The APE Master programme is a two-year programme corresponding to the two-year
coursework of U.S. Ph.D. programmes. It can lead to the PSE-Doctoral programme. All
compulsory courses and most elective courses are offered in English.
The first year of the Master programme (year M1) is mostly devoted to basic and
methodological courses in micro and macro-economics, econometrics and economic history.

Year M1 Course Tutorial

FIRST SEMESTER
Microeconomics 1 36 hours 24 hours
Macroeconomics 1 36 h. 24 h.
Econometrics 1 36 h. 24 h.
Game Theory 24 h. 18 h.
Economic History 24 h. -
International Economics 24 h. 18 h.
SECOND SEMESTER
Compulsory courses
Econometrics 2 36 hours 24 hours
Econometrics 3 24 h. 18 h.
Microeconomics 2 36 h. 24 h.
Macroeconomics 2 36 h. 24 h.
One course at the EHESS 24 h. -
Elective courses
Industrial Organization 18 hours -
Development Economics 18 h. -
Demographic Economics 18 h. -
Macroeconomic Policies 18 h. -
Labor Economics 18 h. -
Public Economics 18 h. -

TOTAL Min. 444 hours

During the second year (year M2), APE students choose advanced courses from a wide range
of areas covering all major fields of specialisation and write a Master dissertation.

Year M2 Course
FIRST SEMESTER
Elective core courses (4 compulsory)
Financial Economics 36 hours
Risk, Information and Time 36 h.
General Equilibrium Theory 36 h.
Behavorial Economics 36 h.
Incentives and Public Governance 36 h.
Industrial Organization 36 h.
Growth and Structural Changes 36 h.
Political economy 36 h.
Business Cycles and Stabilization Policies 36 h.
Disequilibrium and impecfections 36 h.
Development Economics 36 h.
International Macroeconomics 36 h.
International Trade 36 h.
Population Economics 36 h.
Environmental Economics 36 h.
Economics of Inequality 36 h.
Economics of Social Policies 36 h.
Economics of Education 36 h.
Health Economics 36 h.
Advanced Economic History 36 h.
Advanced Macroeconometrics 36 h.
Advanced Microeconometrics 36 h.
Workgroups (1 compulsory)
Microeconomics 36 hours
Macroeconomics 36 h.
International and development economics 36 h.
Demography economics 36 h.
Public economics 36 h.
TOTAL Min. 180 hours
Year M2 Course
SECOND SEMESTER
Elective courses (6 compulsory)
Applicat. of Impact evaluation in Development microeconomics 18 hours
Applied Labour Economics 18 h.
Computational Economics 18 h.
Coordination of expectations 18 h.
Duration Models 18 h.
Dynamic Optimization 18 h.
Economic policies and strategies for development 18 h.
Empirical Industrial organization 18 h.
Environmental Policy 18 h.
Experimental Economics 18 h.
Foreign Investment 18 h.
Games and Information 18 h.
Geography Economics 18 h.
Growth , Distribution and institutions in LDCs 18 h.
Historical Demography 18 h.
IO and applications to antitrust and regulation 18 h.
Migration 18 h.
Monetary and Financial Macroeconomics 18 h.
Neuro-Economics 18 h.
Panel Data 18 h.
Population Policy 18 h.
Public policy evaluation 18 h.
Search and Matching 18 h.
Subjective well-being 18 h.
Social Interactions 18 h.
Social Network 18 h.
Taxation 18 h.
Theories of collective choice 18 h.
Topics in Econometrics 18 h.
Topics in empirical political economy 18 h.
Topics in insurance economics 18 h.
Trade Policy 18 h.
Urban Economics 18 h.
Master Thesis
TOTAL Min. 288 hours
Applications
All applicants for the APE Master degree are subject to a selective admissions process. They
must demonstrate an excellent aptitude for learning the analytical and quantitative tools
that are the hallmark of the training at PSE. On the average, 20% of the M1 applicants are
successful, while 15% of the “external” M2 applicants get admitted (in M2, most of the slots
are dedicated to M1 students).

Dedicated website
www.pse-application.eu
See the dedicated brochure “PSE: how to apply on line?”

For students coming from Paris 1 and that wish to registered there,
you must also register on the Sésame Application website: https://sesame.univ-paris1.fr/

For September 2016

Applications (spring session is over)
before 29th May 2016 for an answer mid-July
The probability of acceptance is equal whether you apply in March or May*. However, we
encourage foreign candidates to apply in March to have more time to better prepare their
stay in Paris.
* Applications rejected in March will not be reconsidered in May

APE Master Registration Fees

Fees are around 250 euros per year, in addition to approximately 210 euros for social
security (for those under the age of 28). Studying at PSE is free of any additional fees.

Contact information

Tel: +33 143 136 343/2

E-mail: master-ape@psemail.eu

Visit our website: www.parisschoolofeconomics.eu

Brochure updated in March 2016