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Program structure


Course Portfolio


During the year students must take 3 mandatory core courses + 2 other core courses to choose among 4, and have access to a range of elective courses.

Compulsory Core Courses provide the fundamental building blocks in economic analysis and empirical methods essential for understanding how to go about formulating, analyzing, solving and testing an economic problem. They also provide a thorough understanding of global macroeconomic issues.

Students follow the 6 mandatory core courses:

  • Behavioral Economics
  • Econometrics
  • Exchange Rate Economics
  • Industrial Organization
  • Trade and Sustainable Growth
  • Seminars in Macroeconomics

Electives allow students to design their own personal curriculum to suit their career objectives.

Managerial Economics:

  • Business Analytics Using Python 
  • Cases in Economic Consulting
  • Data and Decisions: Applied Analytics
  • Economics of Social Networks 
  • Game Theory
  • Strategic Consulting

Financial Economics:

  • Country and Sovereign Risk Analysis
  • Economics and Management of Banks (taught in French)
  • Financial Cycles and Crisis (taught in French)
  • Quantitative Asset Management
  • Financing Decisions of Firms
  • Limits to Market Efficiency: Origins and Consequences
  • Mergers and Acquisitions
  • Monetary Policy
  • Risk Management 

The following courses are offered to students who have no background in economics:

  • Microeconomics
  • Macroeconomics
  • Financial Economics.

Nobel Prize winners in economics, professional economists, top bank managers and consultancy firms are invited to give lectures on important current economic issues throughout the academic year.

Examples of conferences:

  • Joseph E. Stiglitz (2001 Nobel Prize in Economics, Columbia University Professor): ‘Creating a Learning Society. A New Approach to Growth, Development, and Social Progress
  • Lars Peter Hansen (2013 Nobel Prize in Economics, University of Chicago Professor): ‘Sets of Models and  Prices of Uncertainty’
  • Thomas J. Sargent (2011 Nobel Prize in Economics): ‘Macroeconomic Theory and the Crisis’
  • Patrick Artus (Global Chief economist at Natixis): ‘Deflation in the Euro Zone and Application to Monetary Policy’
  • Jean-Christophe Mieszala (Director at McKinsey & Company): ‘The Strategic Stakes in the Banking Industry’
  • Robert Ophele (Second Director of French Central Bank): ‘Monetary Policy at a Time of Market Fragmentation, Regulatory Repression and Global Economic Desynchronisation’
  • Michel Crouhy (Head of research & development at Natixis): ‘Measuring Market Risk: From Value-at-Risk to Stress Testing and Scenario Analysis’
  • ...

Students have the opportunity to go on a study trip during the program, which includes company visits and networking events organized with HEC Alumni’s support.

Job market workshops aim to better prepare students for their job search and cover critical topics like CV presentation, assessment centers and interviews preparation.

Students are required to write a master thesis during the program. They will discuss their areas of interest with the program’s Academic Directors who will direct them towards the right tutors.

The professional experience requirement is satisfied when the student completes a professional experience of at least 4 months in fields related to their coursework at HEC Paris. It is, however, important to stress that this professional experience may not be an internship per se.

Our policy at HEC Paris is that the best type of internship is a full-time job! We strongly encourage our students to look for permanent hiring as soon as the academic year starts.

As an international business school, HEC Paris welcomes students from all over the world. Almost one hundred nationalities live on the campus. It's a fantastic opportunity to discover other cultures and to share exceptional moments, and it's important that students can communicate as much as they wish.

HEC Paris Learning Center of Languages aims at helping students to learn or strengthen any language they would like, providing a wide range of I.T. and print resources.

Students do not need to speak French to enroll in the program as all core courses and most electives are offered in English. However, some knowledge of French can be useful to enjoy the full HEC experience, become professionally bicultural and optimize networking with French students and alumni. This is why HEC Paris offers optional French language classes.

Prior to their studies, students may also register for a two week French language course (TEF certificate – all levels) in August. This is an exceptional opportunity to learn French before joining the Campus (extra fees are applicable).


Sponsored by a company, Certificates are a set of interdisciplinary courses corresponding to approximately 100 contact hours as well as business projects and other types of field work related to a given sector. Each student selected (in the 1st semester) for a certificate will be awarded an additional HEC certificate if he/she validates all the requirements of the course.