Program Overview

  • 2 years

    Duration

  • 850 CHF/Semester

    Tuition Fees

  • Nov/Apr

    Application Deadline

  • Full Time

    Pace

  • On-Campus

    Study Time

  • English

    Language

The Universities of Bern and Basel are offering a Master's degree in International and Monetary Economics (MIME), a unique program in Europe that combines monetary and international economics with financial markets using modern macroeconomic analysis tools. The program is delivered in English and is run jointly by the two Universities, which aim the ambitious students who have a strong background in economics and quantitative methods and who are willing to be challenged.

Career

Economic globalization, international issues regarding monetary policy, and macroeconomics, in general, are becoming increasingly relevant. The MIME program gives the opportunity to the student to extend their knowledge regarding the monetary system and international economics, preparing students for careers in:

  • Central banks
  • International institutions
  • Financial regulatory authorities
  • International economics
  • Financial markets

Key Facts

Autumn Semester

  • Application Deadline

    April 30, 2021

Spring Semester

  • Application Deadline

    November 30, 2021

  • Credit 90 ECTS/3 Semester

Admission Requirements

Minimum required score:

80
120

Minimum required score:

550
677

Minimum required score:

215
300

Minimum required score:

6
9

Application and Admission

The application process consists of two stages:

Stage 1 (pre-application)

The applicants submit a short CV and a list of the courses taken together with the grades achieved in individual courses as well as the grade point average (GVA). If available, GRE or GMAT scores could also be submitted. Please send your pre-application to [email protected] (University of Basel).

Stage 2 (application)

Those who are found to satisfy the minimum MIME requirements are invited to initiate the official application process. If accepted, the students are expected to have obtained their BA by the time courses start.

Admission

  • Proof of completion of a bachelor degree (180 ECTS) earned from a Swiss university, showing good knowledge in quantitative methods with one of the two following qualifications: Bachelor qualification in the field of economics or in economics sciences with a Major in economics and a minimum final grade of 5.0 (unrounded).
    Grade scale: 6.0 to 1.0; 6.0=best, 4.0=pass.Bachelor qualification in a discipline associated with economics sciences (content, methodology) and a minimum final grade of 5.0 (unrounded), as well as a test, result in the GMAT-test or GRE-rest in the upper range of performance (i.e., a result achieved by the top 20% of candidates).
  • Proof of proficiency in English at Level B2 of the European language portfolio. This proof must be provided prior to admission to the Master’s program. The regulations of the University of Basel make clear which types of certificates correspond to the required level.

Master’s Program – Applicants with Swiss Qualification

Documents for an online master’s application with a bachelor’s degree from a Swiss higher education institution:

  • Declaration of consent
  • Passport photo
  • Passport or ID card
  • Current CV in table form
  • Higher education institution degree relevant to admission (degree certificate, degree transcript/transcript of records, diploma supplement)
  • Academic progress summary for current studies (if relevant higher education institution degree has not yet been completed)
  • Degree certificate and degree transcript/transcript of records from other studies completed at recognized higher education institutions (where available)
  • Maturität / secondary/high school leaving certificate (if the applicant holds such a certificate)
  • Confirmation of exmatriculation

Master’s Program – Applicants with Foreign Qualification

Documents for an online master’s application with a bachelor’s degree from a non-Swiss higher education institution:

  • Declaration of consent
  • Passport photo
  • Passport or ID card
  • Current CV in table form
  • University degree relevant for admission (degree certificate, degree transcript/transcript of records, diploma supplement)
  • Academic progress summary for current studies (if relevant university degree has not yet been completed)
  • Degree certificate and degree transcript/transcript of records from other studies completed at recognized higher education institutions (where available)
  • Maturität / secondary/high school leaving certificate (if the applicant holds such a certificate)
  • Confirmation of exmatriculation if the applicant has already matriculated at another Swiss higher education institution

Important:

A bachelor’s degree or equivalent degree from a foreign university recognized by the University of Basel only allows access to the master’s degree if this allows admission to the desired master’s degree at a university in the higher education system of its acquisition. It may be the place of study evidence required.

Recognized university degree

A university degree is only formally recognized if all of the following requirements are met:

  • The academic degree/title awarded is recognized by the state in the respective educational system.
  • The course is recognized/accredited in the respective educational system by the responsible official authority.
  • The degree was awarded by a recognized university and at least 80% of the course work was acquired at a recognized university.
  • The degree was obtained at the Bachelor / Master level or an equivalent level. Qualifications of the advanced training level (MAS, DAS, CAS, EMBA, postgraduate diplomas, etc.) are not recognized for admission.

For a degree that was acquired through distance learning, the following additional requirements must be met:

  • The learning outcomes of distance learning are comparable with those of the corresponding face-to-face study in the respective education system.
  • The degree acquired in distance learning must enable access to further studies at the next higher level in the corresponding education system, including face-to-face studies

PDF: www.unibas.ch/dam/jcr:e24d8854-2f4b-44c4-b73f-80ac5b7d5abe/MIME%202020.pdf

For further information, check the official website: https://www.unibas.ch/de/Studium/Bewerbung-Zulassung/Anmeldung.html

Fees and Funding

Tuition Fees

  • National Students

    850 CHF/Semester

  • International Students

    850 CHF/Semester

Living costs for Basel

  • Living Costs

Funding

Study and living costs (per month)

Living costs vary significantly depending on personal circumstances and individual requirements. The following breakdown is therefore intended to serve as a guideline.

Studying away from home

  • Education costs 2 CHF 100/200
  • Accommodation incl. utilities CHF 600
  • Food 3 CHF 350
  • Clothing CHF 100
  • Health care 4 CHF 200
  • Transport 5 CHF 100
  • Leisure, culture 6 CHF 200
  • Misc. additional costs 7 CHF 200
  • Total (rounded) CHF 2,000/2,100

The Social Services team is available to explain and offer advice on any issues regarding financing (grants, scholarships, etc.)

For further information, please check the official website: https://www.unibas.ch/en/Studies/Advice/Funding.html

Getting a Student Visa

Since Switzerland is a part of the Schengen zone, a Schengen visa will win you the right to go to the country, but if you want to stay there as a student, you must take a few more steps. The procedures are different for EU/EFTA and non-EU/EFTA students.

After getting the acceptance letter, follows the process of setting an appointment with the Swiss embassy or consulate in your country. The procedure takes time, so make sure to set the appointment six months prior to your studying. The processing time for the short stay visas is around 10-15 days, and for long stay visas, eight to ten weeks.

For each document required, you have to provide the original along with three copies. The papers should be in English or in one of Switzerland’s national languages (German, French, Italian, or Romansh). If they are not in one of these languages, you will need a certified translation of those documents. 

Switzerland Student Visa Requirements

  • The completed and signed application forms for a long stay visa (D type) in one of the languages mentioned above. 
  • Passport – valid three months beyond the planned stay.
  • Four passport-size biometric photographs.
  • Letter of acceptance (certificate of enrollment) issued by a Swiss university.
  • Paid visa application fee. 
  • Proof of payment of the registration and tuition fees (for the first year of your studies).
  • Proof of sufficient financial coverage: copies of bank statements or a letter from the bank provided by you or your supervisor. Funds are supposed to cover living costs in Switzerland for the duration of schooling (21,000 CHF or 19,200 EUR at the beginning of each year of your studies).
  • Scholarship/Loan proof (if available) from an institution that proves that the scholarship or loan will cover all expenses for the study.
  • CV.
  • Letter of motivation, which should also include your professional plans for the future.

Submitting the Switzerland student visa application

After filling the application and completing all required documents, you should submit them in person at the Swiss embassy/consulate at the designated time of your appointment. Along with submitting your documents, you are required to pay the Swiss student visa application fee. 

After receiving your Swiss Student Visa

You may enter Switzerland after you receive a student visa. Within the first two weeks of arrival, you have to register at the local Residents Registration Office of your canton as well as visit the cantonal migration office in order to obtain a residence permit form.

B permit (a biometric card) is the type of residence permit for student stay. Prior to that, you will receive an attestation that allows you to open a Swiss bank account. It will take up to 8 weeks for your B permit to be processed. 

Student Visa Validity

The student visa or the B permit obtained in Switzerland initially is valid for one year. After one year, you have the option to extend it. However, updated proof of income is required in order for your student visa to be extended.

Protip

If you’re a student who wants to study in Switzerland but are not quite sure what are the steps of the student visa application process,  you are advised to read the following resources on Everything You Need To Know about getting a visa for Switzerland.

Work Permit

Find out all you need to know about work permit regulations for working part-time (during studies) and full-time (after graduation) in Switzerland.

Work while studying in Switzerland

For many international students in Switzerland, working while studying is an ideal option. Still, that is not recommended by some universities since it can distract and affect your academic work. With job boards and other advisory services, other schools facilitate job searches to help students. During the school year, students’ working hours are limited, and there are a few requirements they need to fulfill.

How many hours are international students allowed to work per week?

International students can work up to 15 hours a week in part-time jobs. But during semester holidays students can work full-time.

 

When are students allowed to start working?

Students from outside the EU/EFTA countries may start working only 6 months after starting their degree program.

Is there a work permit required for students working part-time?

Citizens from EU-27/EFTA states do not require authorization for short-term employment up to three months or 90 days per the calendar year. For an extended time, they will have to earn a residence permit. Third-country nationals are obliged to submit numerous documents to prove their eligibility for a work permit in Switzerland.

What job can I get as a student in Switzerland?

During your years as a student, there are many part-time jobs that you can do. For most students, employment in retail, restaurants, and others are sought-after options. However, a lack of language skills (in German, French, or Italian) can limit your employment chances. 

Work after graduation in Switzerland

Upon your graduation, you have the right to look for a permanent job in Switzerland. Prior to that, a residency permit that allows you to search for a job should be obtained. The permit is only valid for 6 months, and it cannot be extended.

What requirements do students need to fulfill in order to receive a residency work permit?

In order to receive the residency work permit, you have to provide proof that you:

  • Have graduated. 
  • Are financially able to support your say.
  • Have secured housing.

Are students allowed to work during this 6 months period?

During this six month period, graduates can work up to 15 hours a week. These rules do not apply for EU/EFTA nationals as they benefit from the freedom of movement under bilateral agreements.

How difficult is for international students to find a permanent job after graduation in Switzerland?

A non-EU/EFTA can get a job in Switzerland only if there are no qualified individuals from within the Swiss labour market or from an EU/EFTA state that apply for the position. Employers are required to show that they made “big efforts” to find qualified applicants from EU/EFTA countries or nationals who already have a permit to work. Furthermore, employers must show why those with priority to get the job were not suitable candidates for the position.

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