NPDE: Admission and Scholarships

Admission Requirements

The selection of students is based on the assessment of the students' background, research potential and an interview.

Applicants are required to have completed a M.Sc. in Economics and/or Finance with a strong quantitative orientation, preferably entirely English-taught (or to complete it by 31 October 2020).  Also candidates with a M.Sc. in Mathematics, Physics or Engineering may apply.

Candidates should be fluent in written and spoken English. Although language certifications are not required, they will be considered by the admission committee together with other credentials. 

Documents to be submitted

  • Curriculum Vitae.
  • Two academic reference letters: letters must be sent directly by recommenders.
  • Official transcript of his/her undergraduate degree and master degree, displaying the overall grade (if applicable),the list of exams taken and their grades. If the master's studies have not been completed before filing the application, a photocopy of the provisional master's transcript will be needed.  If the academic transcripts are not written in English, or Italian, the applicant will also have to include the respective sworn translation in English.
  • Certificate of good working knowledge of written and spoken English (TOEFL, First Cambridge Certificate, Proficiency in English, IELTS or equivalent). If students have not yet obtained a language certification they can attach a personal letter stating they are able to follow Ph.D. courses taught exclusively in English and they would be willing to be contacted for an interview.
  • A Research Proposal (one-page).


  • Up to 6 students are admitted to the program each year. Two positions are reserved for non-Italian students (students who are not resident in Italy and graduated abroad). Scholarships of approximately € 13.590,00 each year (net of taxes) are available for at least 5 students (two of whom foreigners). The duration of each scholarship is 4 years, subject to performance. The monthly allowance can be increased up to 50% for students visiting a research institution or University abroad. Starting in the second year, there are also allowances for short-period mobility.
  • The Ministry of Foreign Affairs and International Cooperation (MAECI) offers grants in favor of foreign citizens not residing in Italy and Italian citizens living abroad (IRE) available also for Phd Programmes. Further information on the application requirements can be found on the webpage MAECI Grants and on the platform “Study in Italy”.

Admission Procedure

The admission procedure requires applicants to file a preliminary application by 15 April 2020 and a formal application (subject to admission at the preliminary stage) by 26 May 2020.

1. Preliminary Application
Interested candidates are invited to fill the online preliminary application form and enclose  the following mandatory documents:
  • a Curriculum Vitae (mentioning if a Master degree is expected by October 2020);
  • two reference letters;
  • a one-page research statement on a topic within one of the following research fields: Financial Economics, Macroeconomics, Microeconomic Theory, Economic History, Applied Microeconomics;
  • any other documents (such as research papers, Master dissertation, GRE, TOEFL) that may help to assess the candidate's qualifications.

2. Formal Application

Beside the preliminary admission candidates must send a formal application (enclosing all required documents) after the official call opens on 23 April 2020.

Promising candidates who have filled in the preliminary admission for the PhD program, will be notified by the coordinator when the official call opens. The  formal application has to be sent in due time with all documents indicated in the official call and represents the only way to be considered by the admission committee.

For more information on the formal admission procedure please click  here.