I do not think anyone without a Masters degree would be accepted there, let perhaps highly mathematical and renowned backgrounds be the exception. Ah well, what regards the competitiveness, I guess they have intakes between 5-10, and more than 100 applications per year. If you search in this forum, I'm pretty sure you'll find profiles of people who got accepted/rejected there to get a better understanding of the requirements.
The program is joint with Stockholm University and IIES. I would rate the course program in the 10-30 area (some even higher), it highly depends on the course unit and who gives which course (but I am sure you can find that out using "the internet"). There are some visiting professors from top US institutions that teach at the program. Trivially, your chances afterwards depend on your skills and your supervisor's marketing. And then again, the latter depends on your supervisor (but again, I am sure you can find out who that could be).