CEMFI is a leading institution in research and graduate education in economics and finance. It was founded by the Bank of Spain in 1987. CEMFI’s graduate programs rest on our commitment to provide students with rigorous training in economics and finance. They include a Master in Economics and Finance and a PhD in Economics. Our placements and the careers paths of our graduates are the best endorsement of the value added of our programs. Complementing our graduate programs, we also organize a Summer School, which provides specialized frontier training to practitioners, academics, and graduate students.