Curriculum MPEF 2nd year After completing the first year, students are evaluated. If admitted to the second year, MPEF students have to choose their PEF specialisation («Economics», «Econometrics» or «Finance»). Evaluation after the first year The evaluation of students will take place at the end of the second semester and is based on the following criteria: 1. average grade for all courses of at least 5.0 (including research seminar); 2. all 54 ECTS Credits in the compulsory and core elective courses, as well as the MPEF first year research seminar must be completed within one year; 3. minimum grade for the MPEF's first year research seminar of at least 5.0. (i) If admitted to the second year, MPEF students have to choose the PEF specialisation they will follow for the rest of their time in the programme. Like regular PEF students, MPEF students have to take PEF elective courses (24 ECTS Credits). Standard PEF rules apply to all students (courses from other universities, FINRISK or Gerzensee can be credited under these rules). Those courses will also be counted towards the second year courses of the Master's programme. For further information please contact the PEF office. (ii) If a student does not meet the above criteria they will no longer follow the MPEF curriculum. Students can however continue to attend the regular Master's programmes MiQE/F or MEcon if the academic standards are met. The MPEF courses that are part of the respective MiQE/F or MEcon curriculum can be credited accordingly. PEF elective courses As with regular PEF students, MPEF students take PEF elective courses (total 24 ECTS Credits). Master's Thesis MPEF students write a Master's Thesis during their second year. If accepted, the Master's Thesis is graded and weighted with 18 ECTS Credits. The Master's Thesis already includes considerable scientific work which may be extended to become an important part of the research proposal for the PEF Ph.D. programme. You have a maximum of one year to complete your Thesis. We require a topic from the MPEF core studies. The Thesis must be written in English and supervised by a core SEPS faculty member. The co-supervisor has to be a member of the PEF Programme Committee. Master's Degree After successfully passing the courses of the second MPEF year and completing their Master's Thesis, students obtain the Master's degree (usually after 2 years, but ideally earlier): Master of Arts HSG in Economics or Master of Arts HSG in Quantitative Economics and Finance (M.A. HSG). After successfully submitting and defending the research proposal, graduates are also automatically accepted for the PEF and enter its dissertation phase.