It is a well-known spanish university (I'd say they are only under CEMFI and Barcelona GSE, here in Spain) and well ranked in Europe (check some rankings such IDEA, QSUniversity or phdecon).
What you should keep in mind is that MAE is completely oriented to the Phd, so if want to do something leading to the labor market after the MSc look for another option. In fact, they propose an integrated program, 2-year of the master program where after the first year you are requiered to pass some "qualifying examns" (about the content of first year courses) in order to be elegible for the Phd program (furthermore you should achieve a specific academic performace in your grades). After this two years you can eiter start their 3 year Phd program or apply to another university (althought the purpose is to complete the 5 years there I have heard that there is no problem regading this last option).
About the coursework, the first year is devoted to a lot of study in the main areas (math, macro, micro and econometrics), while in the second year you are allowed to choose among a number of elective courses. I have heard that it is a rigurous program, highly demanding on quantitative skills. In addition, I think that they are particularly strong in econometrics (I think that in macro too, but I can't ensure that to you...) and have good faculty staff with many professors who obtained their Phd from foreign and reputated universities, as a great Phd placement (not as good as CEMFI for example, but good from my point of view)
Moreover, they offer a numer of scolarships ever for the master as counterpart of some TA duties (I haven't bee awarded with one, sadly... at least for now). You can check for more information on their website or even in this forum. (and if finally I go there, which is likely, your can ask me when you are applying of course)