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Thread: Confused between Msc economics at BGSE and Masters in economic analysis at UC3M

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    Confused between Msc economics at BGSE and Masters in economic analysis at UC3M

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    I have got admit from MSc economics program at BGSE (not advanced track) got rejection from their Phd track and also from master of economic analysis program at UC3M. Economic analysis program at UC3M leads to their PhD program but I am not sure how good their PhD program as it doesn't seem they have a good placement records but they pay a monthly stipend of 900 euros. I was wondering how good BGSE's master program to prepare for a good PhD program in either US or Europe? as I had horrible grades in mathematics in undergrad. Also how much sense it makes to go to BGSE instead of a PhD track program and waste additional one year after graduation for application to PhD programs and then enter one?
    PS: I am not from Spain

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    Re: Confused between Msc economics at BGSE and Masters in economic analysis at UC3M

    If your maths is not truly exceptional, do not go to BGSE. I know the programme from a friend and it is no good if you're already amazing at maths

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    Re: Confused between Msc economics at BGSE and Masters in economic analysis at UC3M

    Quote Originally Posted by ahududu View Post
    If your maths is not truly exceptional, do not go to BGSE. I know the programme from a friend and it is no good if you're already amazing at maths
    This is a bit unclear to me. Do you mean that you should only go to BGSE if you're exceptional at math because it's difficult to succeed in the program without strong math?

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    Re: Confused between Msc economics at BGSE and Masters in economic analysis at UC3M

    Quote Originally Posted by hallowedelegy View Post
    This is a bit unclear to me. Do you mean that you should only go to BGSE if you're exceptional at math because it's difficult to succeed in the program without strong math?
    Yes, precisely what I am saying. You should only go to BGSE, if you already know necessary maths to succeed in a PhD or be very close to that point (meaning Calc1-2-3, LA and RA should be taken before the programme). When you have those necessary skills and go there, you can learn economics and its intuition without struggling too much with the maths side.

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    Re: Confused between Msc economics at BGSE and Masters in economic analysis at UC3M

    Lol at the person who downvoted my comments. I know the programme very well and instead of disliking, it would be better to disprove what I am saying if you can lol. It would actually help OP to decide.

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    Re: Confused between Msc economics at BGSE and Masters in economic analysis at UC3M

    Quote Originally Posted by ved23 View Post
    I have got admit from MSc economics program at BGSE (not advanced track) got rejection from their Phd track and also from master of economic analysis program at UC3M. Economic analysis program at UC3M leads to their PhD program but I am not sure how good their PhD program as it doesn't seem they have a good placement records but they pay a monthly stipend of 900 euros. I was wondering how good BGSE's master program to prepare for a good PhD program in either US or Europe? as I had horrible grades in mathematics in undergrad. Also how much sense it makes to go to BGSE instead of a PhD track program and waste additional one year after graduation for application to PhD programs and then enter one?
    PS: I am not from Spain
    If you have terrible grades in mathematics, how sure are you that you'd even get into a good PhD programme to begin with? The purpose of doing a rigorous masters is to help cover up bad grades. Posting your full profile using the standard template will help.

    The BGSE normal track is tough, but is not even close to the rigour of a full first-year PhD sequence; the advanced track is what's comparable to first year courses. Given that you got a fully funded offer from UC3M, and since you have sub-par undergraduate grades, it seems like a no-brainer to attend a rigorous masters programme. You should email them for placement data if what's available online is insufficient or vague. Do note, though, that if they are going to be paying you a stipend, the faculty members might not be so keen to write solid letters when you apply elsewhere after having also consumed (presumably) free tuition. If you really are keen in the programme, try to reach out to students from previous cohorts, and get a feel of things.

    The BGSE masters programme is decent preparation for a PhD (even the normal track). As long as you prepare adequately, it shouldn't be too difficult. The class size is also fairly large so it might be tough to score in the top 25% of the cohort consistently, since a fair number of people enter the programme specifically to bolster their profile for PhD applications.

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    Re: Confused between Msc economics at BGSE and Masters in economic analysis at UC3M

    Tutonic is right.

    UC3M's PhD is very good. It doesn't have the placement record of BGSE's PhD program though, partly because it's less international.

    Am I understanding correctly from your post that UC3M rejected you? Or did they accept you? If they accepted you, I would not expect to do well with a subpar math background. UC3M's PhD program is very, very tough. They're known to fail people. If I'm reading correctly on their website, they accept 20 people into the master's in economic analysis each year, and 10 people into the research phase of the PhD each year. If you don't think you'll be in the upper 50% of students, you should probably decline the offer.

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    Re: Confused between Msc economics at BGSE and Masters in economic analysis at UC3M

    Quote Originally Posted by tutonic View Post
    If you have terrible grades in mathematics, how sure are you that you'd even get into a good PhD programme to begin with? The purpose of doing a rigorous masters is to help cover up bad grades. Posting your full profile using the standard template will help.

    The BGSE normal track is tough, but is not even close to the rigour of a full first-year PhD sequence; the advanced track is what's comparable to first year courses. Given that you got a fully funded offer from UC3M, and since you have sub-par undergraduate grades, it seems like a no-brainer to attend a rigorous masters programme. You should email them for placement data if what's available online is insufficient or vague. Do note, though, that if they are going to be paying you a stipend, the faculty members might not be so keen to write solid letters when you apply elsewhere after having also consumed (presumably) free tuition. If you really are keen in the programme, try to reach out to students from previous cohorts, and get a feel of things.

    The BGSE masters programme is decent preparation for a PhD (even the normal track). As long as you prepare adequately, it shouldn't be too difficult. The class size is also fairly large so it might be tough to score in the top 25% of the cohort consistently, since a fair number of people enter the programme specifically to bolster their profile for PhD applications.
    I have a dual degree in Economics and Engineering. I had not motivation in my first year that's why I didn't perform well in preparatory mathematic courses and then got interested in economics. I have performed decently in the engineering courses that used the preparatory mathematics, so I think I have a decent knowledge of mathematics required of Phd. My full profile is:

    Type of degree: Integrated first degree (Msc Economics + Bachelor of Engineering in Electronics and Instrumentation) from reputed university for Engineering in Indai

    Undergrad GPA: 7.31/10

    GRE: 169 Q 159 V

    Math Courses: Calc 1~3, Linear Algebra, Diff Eq, Probability

    Research Experience: Personal RA to professors, Thesis, two publications in tier 2 journals

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    Re: Confused between Msc economics at BGSE and Masters in economic analysis at UC3M

    Quote Originally Posted by ved23 View Post
    I have a dual degree in Economics and Engineering. I had not motivation in my first year that's why I didn't perform well in preparatory mathematic courses and then got interested in economics. I have performed decently in the engineering courses that used the preparatory mathematics, so I think I have a decent knowledge of mathematics required of Phd. My full profile is:
    You don't have any Real Analysis/Advanced Calculus in your transcript. Most of the decent programmes implicitly require you to have taken at least up to Real Analysis. A fair number of schools in the Top 20 explicitly state so. Therefore, your current math prep can only be seen as adequate, and not decent in any regard.

    Your undergraduate grades aren't terribly good by itself, so it'll be difficult to be admitted into a good school given that you have zero economics courses and subpar undergraduate grades; I say subpar because everyone applying to a decent school has good, if not perfect, grades, so a decent GPA is bad, by comparison, if you don't have other aspects in your profile to prop your application up (like graduate coursework, research experience and/or solid letters by renowned faculty).

    If the publication isn't in a Top 3-5 field journal or Top 10 (which is a stretch) general interest journal, then it has little value in your application.

    If the faculty member has had previous experience sending students to PhD programmes, try to find out which PhD programmes past RAs end up at. That'd give you a better sense of where to realistically aim for.

    Looking at the UC3M page, it seems that the MSc is just a feeder programme into their PhD. Before you make your decision, as I previously mentioned, you should email the programme admin for PhD placement information. If they're dodgy about it, then it's probably a sign that they don't place very well. Depending on the placement history of the UC3M MSc, BGSE might be the better alternative, albeit a considerably more expensive one.

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    Re: Confused between Msc economics at BGSE and Masters in economic analysis at UC3M

    You can find the placement on the website. They list students name and where they were placed. It is not unclear.

    Someone said above that they fail 50% of the cohort. I would say that it is very optimistic. This year they failed 2/3 of the cohort. I can confirm this.

    About the program, it is very demanding and will be very hard to find a program with the same level of econometrics as UC3M. Regarding Macro and Micro training it is very standard, but econometrics is very tough because it is the main field of the program.

    With respect to the scholarship, 900 euros is more than enough to live in Getafe, even going to a bar all weekends (pretending you will have time). However, if you want to live in Madrid it will be a bit problematic.
    Last edited by monster007; 03-01-2021 at 03:15 PM.

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