Apply now to the International Economy and Business MSc Program
of the Institute of World Economy
At the Institute of World Economy, we offer multiple paths to enrollment. Whether you want to do your studies completely in Budapest, or you would like to improve your skills through a double degree program. Whether you want to work for a MSc or a PhD degree. You’ll find an accessible path to meet your goals.
Check out here the Admission Requirements to join our International Economy and Business MSc Program.
Our Admission Requirements
1) A Bachelor’s degree
Applicants are required to present an authenticated copy of at least a BA/BSc degree both in the original language and in English, as well as an official copy of the transcript of their studies. Graduating students need to send their certificates after the defense of the thesis work.
2) Successful entrance exam
3) Language requirements
The English-language skills of applicants are tested both in the written and the oral parts of the entrance exam and, therefore, a certificate proving the English-language skills of the applicants is not required to be enclosed in the application package.
Be sure to pass The Entrance Exam
Entrance exams to the Master’s Programs consist of the following two parts:
Evaluation of the submitted application material (70 points)
Oral test: A telephone or Skype interview (most likely will take place in June) (30 points)
The purpose of the interview is not just to measure applicants’ verbal competences and their motivation for joining a program, but their background knowledge and preparedness for participating in an MSc program. Interviews are evaluated, among others, on the basis of how successful applicants are in communicating their ideas, what career plans they have in mind, how they think they can benefit from the Master’s program in order to meet their future goals, what kind of basic knowledge they have acquired and how they are devoted to deepen their knowledge further.
The admission is determined by a board composed of the delegates of the departments responsible for the education of the programme. The number of admitted students: Maximum 40
Web pages, online books and other resources which may be useful for preparing for the entrance exam:
The International Economics Study Centre
(International trade theory and policy; International finance)
(German weekly political and economic magazine)
comment section (British daily business broadsheet)
(American bimonthly journal on international relations)
(commentaries by Nobel laureates, statesmen, economists etc.)
(British weekly news, politics and business magazine)
leaders (British daily newspaper)
The New York Times,
opinion section (American daily newspaper)
The Wall Street Journal,
opinion section (American daily political and economics broadsheet)
(online information policy portal set up by Centre for Economic Policy and Research)
Oral test: motivational discussion and assessment of academic preparedness
The main aspects of the evaluation are how deep the applicant’s background knowledge is for participating in the MSc program, how strong are the applicant’s verbal competences and commitment for the program, how relevant the student considers the knowledge provided by the program, what carrier opportunities he or she sees, how he or she manages to communicate his or her ideas, how solid his or her style is.
Applicants of the MSc programme have to take part in the entrance exam of the faculty. During the entrance procedure, 100 points can be earned.
Submitted application material (CV, motivation letter, transcript) – maximum score: 70 points;
Oral exam (motivational and knowledge-assessing discussion in English) – maximum score: 30 points;
and a maximum of 10 extra points can be obtained up to 10 (see below).
Out of the 100 points which can be earned at the MSc entrance exam, the maximum amount of the extra points is 10. Below are the conditions that entitle the students for additional points.
For scientific achievements, 5 points are given, if the student has a ranking at OTDK (National Scientific Student Competition) or national equivalent.
a. For sport achievements earned within 3 years before the application, 5 points are given for a ranking better than fourth at World and European Championships and 3 points for the same results at national championships, if the competition is organised by the International Olympic Committee, the International Paralympics Committee, the International Committee of Sports for the Deaf, or the FIDE. Only one achievement will be counted.
b. For language competences, 3 points are given for a second exam certificate of type “C” intermediate level, acknowledged by the Hungarian state, from any living foreign language, and 5 points for the same type at advanced level. If the student has more certificates from a language, the higher is counted. A certificate of type “A” or “B”, intermediate or advanced, can be accepted to earn 3 or 5 points, respectively, if the student has an official report on not being able to pass the other type for his or her special educational needs.
The conditions of giving additional points within the frames of positive discrimination are the following:
a. 4 extra points are given for a disadvantaged applicant
b. 8 extra points are given for a multiply disadvantaged applicant
c. 8 extra points are given for conditions involving child-care
d. 8 extra points are given for an impaired applicant
Our Application Procedure
The Faculty welcomes applications during the entire academic year of 2019/2020. The MSc in International Economy and Business program is launched once a year (in September). Application deadline:
30th May 2020 (for September 2020 intake)
Application packages should contain the following items
1. A completed application form (online form)
2. An authenticated copy of the BA/BSc degree
3. An official transcript of studies
4. Curriculum Vitae
5. A motivation letter
6. A copy of applicant’s passport
7. A copy of receipt proving payment of application fee
Application packages have to be posted in hard copy to the postal address of Corvinus University of Budapest OR have to be sent in an electronic form to Miklós Jánoki (firstname.lastname@example.org) by the application deadline.
Successful candidates receive the certificate of acceptance in online form via E-mail, as well as in hard copy via post so that, in case it is applicable, the visa application procedure can be started in time.
Application fee: 120 EUR
The application fee is non-refundable.
Tuition fee is 610 000 HUF for EEA citizens and 2600 EUR for non-EEA citizens per semester.
→ Please transfer the tuition fee for the two semesters of the next academic year until the end of June to our bank account.(For EU citizens, as they do not need a residence permit, only one-semester tuition fee has to be paid by the given deadline.)
→ Please note that registration is conditional upon the receipt of the fee.
→ If the tuition fee for two semesters does not arrive in time, we will not be able to send a letter of acceptance to you about the arrival of the payment, which you need for the residence permit application at our Embassy.
→ Please note that the university is unable to offer postponement of payment, or to provide an installment payment scheme.
Bank account details for paying application and tuition fee
Bank account holder:
Budapesti Corvinus Egyetem
The name of the bank:
OTP Bank Nyrt
The address of the bank:
1051 Budapest, Nador utca 16
Bank account number:
Under “comments” please add: your name 121019 IEB
Visa and Residence Permit
Successful candidates will receive immediately a notification of acceptance by which their visa application can be accelerated if necessary. The Faculty can assist in the visa application process.
For EU nationals we recommend obtaining an EHIC card in their home country.
For students coming from non-EEA countries, we can recommend a private health insurance company the University is in contract with, offering its insurance package at a reduced price (around EUR 230 per year). When arriving at Hungary you need a valid travel insurance till you get insured here.
To read more about health care issues, please click here.
Successful applicants are expected to arrive to Hungary by the 1st of September.
For Hungarian Citizens
We would like to draw your attention to the fact that the detailed requirements for Hungarian citizens to be admitted are accurately listed in the “Admission Bulletin for Higher Education ” / Felsõoktatási Felvételi Tájékoztató / published by the Ministry of Culture and Education annually in December and valid for the next academic year.
Please note that the deadline for applications to comply with central regulations of each year.You have to apply through http://www.felvi.hu/