Master in Economics

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Tuition fees*

Nacional: 1500€
International: 5000€
CPLP International: 2750€


Mainly daytime programme


2 years

* Tuition fees for the academic year 2023/24 (Full Tuition Fee). More information here.

The Master in Economics at FEP (English track and Portuguese track) is a pre-experience Master that offers complementary education in economic sciences at the University of Porto. The programme is targeted at newly first-cycle degree graduates in Economics, Finance, and Management. This is a two-year programme that builds upon the knowledge acquired in 1st cycle studies. The main purpose is to improve the core knowledge of Economics and the command of economic analysis tools, complemented with intermediate level specialization in applied economics. Master in Economics graduate students will be ready for a demanding professional career in private and public institutions and those with research-oriented interests can also access third-cycle (doctoral) studies. FEP has the necessary means to help students achieve their goals through:
  • rigorous teaching and procedures coupled with a flexible plan of studies, ensuring improved knowledge of core economics while allowing for diversified specializations in applied courses. The design of each student’s study plan follows these guidelines;
  • possibility of choice between English track and Portuguese track, and possibility of enrolling in the prestigious QTEM – Quantitative Techniques in Economics and Management – international programme;
  • quality and experience of faculty, research centres and supportive professional staff;
  • availability of information resources – bibliographic and data bases – required to conduct research;
  • individual tutoring in the definition of the plan of studies and in the dissertation or internship report work;
  • professional orientation and career planning counselling services;
  • a series of seminars with topics and speakers (outside FEP) that enable the bridge between academia and private and public organizations in the market place;
  • structured programme of curricular internships, with institutions dedicated to economic analysis and other private and public organizations that provide challenging opportunities to engage in a first work experience.

Anabela Carneiro
Director of the Master in Economics

Masters > Master in Economics

The Master of Economics course list can be consulted here.

Masters > Master in Economics

Target group

The Master in Economics is a pre-experience Master that offers high-quality education in economics as well as on quantitative methods and techniques for economic evaluation. The programme is designed to recent graduates in Economics, Management, Finance or related fields.

Student profile

Data referring to the 2022/2023 academic year.

Masters > Master in Economics

Career Opportunities

Master in Economics students are trained to pursue demanding professional or academic careers in public or private, national or international institutions, such as:

  • Financial institutions
  • Regulatory entities
  • Auditing and consulting entities
  • Non-financial companies
  • Government institutions
  • Economic and financial international organizations
  • Non-governmental organizations
  • Teaching and research institutions, etc.

Masters > Master in Economics


The Master in Economics ranks in the 23rd place in the Eduniversal Best Masters Ranking 2022 of the best programmes in Economics in Western Europe.

Masters > Master in Economics


Catarina Martins
Catarina Martins

“The Master in Economics at FEP was the obvious choice for me not only because of the recognized excellence of the Faculty, but also because the Master allows each student to personalize his/her pathway according to the areas of personal interest. Additionally, as a student of the ME, I applied to the QTEM programme, which was definitely a plus due to its international exposure. Overall, my academic journey as a Master student at FEP integrated in the QTEM gave me a broader understanding of Economics while also preparing me to face future professional challenges, since throughout these two years I could explore different subjects under various perspectives while also acquiring important quantitative tools, which are key in today’s world.”

José Verónico
José Verónico

“The Master in Economics (ME) is a program that has two points that for me were very important: the flexibility in choosing the plan of studies and the recognized quality of the contents taught. The first point is important because it allows the choice of a path that is adjusted to an entry in a more specialized environment, in business or academia, according to the given personal objectives. The second point guarantees the quality of training regardless of choice. In my case, contact with specialized curricular units in the area of economics motivated me to pursue my studies and enroll in the PhD in Economics. In addition, the demanding environment I experienced and the quality of knowledge acquired in the ME facilitated the adaptation to an academic degree of greater difficulty.”

Daniel Loureiro
Daniel Loureiro

“I chose the Master’s in Economics at FEP mostly because of the opportunity to build my own path. I did not regret, as I managed to significantly improve my knowledge on those fields. The professionalism and excellence of the professors was equally important during my journey, to develop the necessary theoretical and practical skills for the job market or for future academic challenges. Having enrolled in the PhD in Economics immediately after completing the Master, I realized the importance and the quality of both mandatory and optional courses. I am truly honored to have been a student of the Master´s in Economics at FEP and I recommend it to anyone interested in learning more about this fascinating science.”

Masters > Master in Economics

Other information

More information here.

More information here.

More information here.


Public Debt and Economic Growth Nexus: A Meta-analysis Approach
Ana Rita Soares de Barros
Supervisors: Ana Paula Ribeiro (FEP) & Vítor Carvalho (FEP)

Fiscal Dominance in Advanced Economies:A Post-Covid Possibility
André Filipe Vilaranda Alves
Supervisor: Manuel M. F. Martins (FEP)

Análise de Eficiência do Setor da Construção dos Países da União Europeia: Uma aplicação do método Data Envelopment Analysis
Inês do Carmo Gouveia Dias
Supervisor: Elvira Silva (FEP)

Inside the Black-Hole: Does Negative Interest Rate Policy Enhance Bank Lending? Evidence from the Portuguese Experience
Marta Bacelar Xavier Moreno de Sousa
Supervisors: Manuel M. F. Martins (FEP) & Emma (Sujiao) Zhao (Banco de Portugal)

Big Data, Capitalism and Socialism
Nuno Francisco Pinto Medeiros
Supervisor: Mário Graça Moura (FEP)


Santos, Helena, e Miranda, Marta (2022). “Disentangling economics and culture in European policies for cinema: what can we learn from Portugal and non-commercial exhibition?”, International Journal of Cultural Policy (in press).

Barros, Diana, e Teixeira, Aurora (2021). “The technology balance of payments and international competitiveness: a panel data analysis of southern European countries, 2000-2017”, The European Journal of Comparative Economics, 18(1), 105-136.

Cardoso, Sara M., e Teixeira, Aurora. (2020). “The Focus on Poverty in the Most Influential Journals in Economics: A Bibliometric Analysis of the “Blue Ribbon” Journals”, Poverty & Public Policy, 12(1), 10-42.

Gil, Pedro M., e Iglésias, Gustavo (2020), “Endogenous Growth and Real Effects of Monetary Policy: R&D and Physical Capital Complementarities”, Journal of Money, Credit, and Banking, 52(2):1147-1197.

Carvalho, João B., e Costa, José (2020), “O Impacto do Metro do Porto nos Preços Imobiliários: Uma Reavaliação”, Revista Portuguesa de Estudos Regionais, 53: 89-108.

Gil, Pedro M., Almeida, André, e Castro, Sofia (2017), “Rich Transitional Dynamics, Physical Capital and Technology Intensity”, Oxford Economic Papers, 69(3): 678-706.

Soares, Luísa, e Chaves, Cristina (2017), “Sustainability and the Firm – From the Global to the Corporate Ecological Footprint”, in Zacher, L. W. (Ed.), Technology, Society and Sustainability: Selected Concepts, Issues and Cases, Springer: 397-423.

Barbosa, Diogo, Carvalho, Vítor, e Pereira, Paulo J. (2016), “Public Stimulus for Private Investment: An Extended Real Options Model”, Economic Modelling, 52: 742-748.

Ribeiro, Ana P., Silva, Sandra T., e Guimarães, Duarte (2016), “Macroeconomic Fundamentals of Poverty and Deprivation: An Empirical Study for Developed Countries”, European Journal of Development Research, 27: 37–66.

Almeida, Álvaro, e Cima, Joana (2015), “Demand uncertainty and hospital costs: an application to Portuguese public hospitals”, The European Journal of Health Economics, 16(1): 35-45.

Garrido-da-Silva, Liliana, Castro, Sofia, e Vasconcelos, Paulo B. (2015), “Discrete dynamics for the core-periphery model”, Spatial Economic Analysis, 10(1): 36-51.

Work Project and Internship Reports

Proposta de Modelo de Avaliação das Ideias e Projetos de Inovação Operacional da REN – Redes Energéticas Nacionais, SGPS, S.A.
Diana Moreira Vieira Nunes Beato
Internship: Redes Energéticas Nacionais, SGPS, S.A.
Supervisor: Aurora Teixeira (FEP)

Estimação do custo direto unitário do internamento de indivíduos que sofrem de doenças do foro mental em Portugal
Miguel Maria de Sousa Santos Andrade Leite
Project: One.Cost, Laboratório de Investimento Social e Fundação Calouste Gulbenkian
Supervisor: Nuno Sousa Pereira (FEP)

The value relevance of individual and consolidated statements: a comparison for the Portuguese listed firms
Luís Eduardo Fernandes Honrado
Internship: Banco de Portugal, Central de Balanços
Supervisor: Margarida Mello (FEP)

Preços de Transferência: a questão do Country-by-Country Reporting
Marta Isabel Faria Pinto
Internship: KPMG, Departamento de Preços de Transferência
Supervisor: José Mendes Almeida (FEP)

IDI e transferência de tecnologia na União Europeia após 2014: uma reflexão a partir dos contributos da Agência Nacional de Inovação
João Luís Lima Campos
Internship: Agência Nacional de Inovação
Supervisor: Sandra Silva (FEP)

Competitiveness: the role of FDI and structural change
Rita Torres Pinto
Internship: aicep Portugal Global
Supervisors: Isabel Mota (FEP) and Sandra Silva (FEP)

State-Aids and Credit: Evidence from Portugal during COVID-19
(distinguished in 2022 as one of the 10 best theses on the Portuguese economy, awarded by Fundação Francisco Manuel dos Santos and Banco de Portugal)
Daniela Dias Costa
Supervisors: Manuel Duarte Rocha (FEP) & Sujiao (Emma) Zhao (Banco de Portugal)

Dinâmica dos preços de habitação em Portugal – os fatores fundamentais do mercado de habitação
(distinguished in 2020 with the André Jordan Award 2020 Edition – Master’s Dissertation Category)
Ana Luísa Mesquita Fernandes
Supervisor: José Costa (FEP)

Determinantes do incumprimento soberano: o papel do contágio – uma aplicação à Área Euro
(distinguished in 2020 by the 2020 Jacques Delors Prize jury, honorable mention)
Diana Raquel Santos Silva
Supervisors: Vítor Carvalho (FEP) & Ana Paula Ribeiro (FEP)

Firms’ Earnings Management and Loan Outcomes
(distinguished in 2020 as one of the 10 best theses on the Portuguese economy, awarded by Fundação Francisco Manuel dos Santos and Banco de Portugal)
Catarina Silva Martins
Supervisors: José Jorge (FEP) & Sujiao (Emma) Zhao (Banco de Portugal)

Exporter Firms Behaviour, Evidence from Portuguese Firms using Microdata
(distinguished in 2018 as one of the 15 best theses on the Portuguese economy, awarded by Fundação Francisco Manuel dos Santos and Banco de Portugal)
Luís Pedro Manso Machado
Supervisor: Paulo Guimarães (Banco de Portugal, FEP) 

A Ideologia Política e o Desempenho Económico à Escala Local – Uma Avaliação no Contexto dos Municípios Portugueses
(distinguished in 2018 as one of the 15 best theses on the Portuguese economy, awarded by Fundação Francisco Manuel dos Santos and Banco de Portugal)
Nathalie Figueiredo Lameiras
Supervisor: Maria Manuel Pinho (FEP)

Behavioural Economics and Tax Compliance – The role of identifiability, geographical distance and social norms on tax compliance: an experimental study
(distinguished in 2016 as one of the 15 best theses on the Portuguese economy, awarded by Fundação Francisco Manuel dos Santos and Banco de Portugal)
Joana Manuela Sá Paiva Loureiro
Supervisors: Teresa Proença (FEP), Carlos Mauro and Eva Oliveira

O Prémio Salarial dos Recém-Licenciados em Ciências Económicas e Empresariais: pós-Crise e pós-Bolonha
(distinguished in 2016 as one of the 15 best theses on the Portuguese economy, awarded by Fundação Francisco Manuel dos Santos and Banco de Portugal)
Rita Cunha Neves
Supervisor: Anabela Carneiro (FEP) 

Impacto das Políticas Macroeconómicas na Pobreza em Países em Desenvolvimento
Luciana Isabel Ribeiro da Silva
Supervisor: Aurora Teixeira (FEP)
(distinguished in 2018 with prize Leonor Vasconcelos Ferreira, awarded by FEP, Associação Portuguesa de Economia Política and Associação Portuguesa de Economia da Energia, 1st prize) 

A Incidência da Pobreza de Baixos Salários em Portugal
Ana Margarida de Oliveira Fernandes
Supervisors: Isabel Mota (FEP) and Anabela Carneiro (FEP)
(distinguished in 2018 with prize Leonor Vasconcelos Ferreira, awarded by FEP, Associação Portuguesa de Economia Política and Associação Portuguesa de Economia da Energia, honorable mention)


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