How is the program structured?

ISET offers a two-year Master's program in Economics:

  • In the first year, all students take the same four economics courses (Macroeconomics, Microeconomics, Statistics/Econometrics, and Mathematics for Economists), plus supplementary English/Academic Writing courses taught at three different levels for the entire duration of first year.
  • In the second year, students are given the opportunity to draw up an individual plan of elective courses. These electives are taught by highly-qualified and internationally-recognized resident and visiting faculty. They cover a wide spectrum of fields such as energy economics, environmental economics, labor economics, resource economics, experimental economics, industrial organization, mechanism design, game theory, finance, health economics, education economics, advanced macro, advanced econometrics, development economics, cost-benefit analysis, program evaluation, advanced mathematics, time series, agricultural economics, open economy macro, economic growth, financial econometrics, and topics in macroeconomics, among other fields. A star-studded list of visiting professors teaching some of the elective and core courses at ISET has included professors from Bonn University, Chicago University, City University of New York, Stanford University, Hebrew University, Warwick University, Western Ontario University, and University of Pennsylvania, to name just a few.
  • Students are required to demonstrate mastery of technical research skills by writing and defending a master's project, applying the tools they acquired in their studies. The master's project represents a significant piece of independent economic research, critically reviewing or interpreting current economic research. Master's projects are on a topic chosen by the student with guidance from faculty.
  • In the second year, students can choose to enroll in one of the concentrations offered at ISET (and thus tailor their study plan, with the help of their faculty advisor, to suit their needs and meet the concentration requirements). The currently-offered concentrations at ISET include "Agricultural Economics", "Energy Economics and Natural Resources Management", "Macroeconomic Policy", "Private Sector Development", "Human Resources Economics" and "Economic Theory". The subject of the students’ writing project (thesis or critique) has to be related to their concentration.

The curriculum is supplemented by internships, faculty-led research projects, and frequent opportunities to interact with policymakers and practitioners.

All courses are taught in English.

What will my schedule look like?

The School's academic calendar is broken into five two-month “mini-terms,” beginning in September and running through early July. Each mini-term comprises seven weeks of instruction and one week for review and exams. A normal course load is four courses per mini-term. Most courses meet twice per week, not including recitation sessions.

Students study at ISET full-time and typically do not hold outside jobs during the academic year. Courses normally meet during the day. At least a few times a week, lectures start at 9:30am and run through 4:45pm.

The Program includes three breaks: New Year's break (three weeks); Spring break (one week); Summer break (July-August).
International recognition:

Students earn three European Credit Transfer System (ECTS) credits for each course consisting of 21 hours of instruction. 120 credits are required to complete the MA. The ECTS credit system facilitates recognition of the degree internationally. Additional coursework in Academic Writing/English and Professional Skills is also required.

ISET uses the U.S. grading system (A-B-C-D-F).


16, Zandukeli St,
0108 Tbilisi,

Telephone: (+995 32) 250 71 77
Fax: (+995 32) 299 86 44