Master's Degree in Economics, Institutions and Financial Markets
Luiss Guido Carli, Rome
Tuition, per year
€16,000
Unverified. Not yet verified. A person has not opened the source for this cycle. Read off the institution own programme page on 13 September 2026 by a single research pass. It has NOT been independently re-checked: the verification stage of that run was stopped before it reached this record, so the record renders as unverified rather than claiming a receipt it does not have. The English requirement is held at unverified unless a per programme source URL was found. Figures here are a starting point for a reader, not a checked claim. Open questions: 1) No intake month is published. Neither the programme page nor any admission page I reached states when teaching starts, and https://www.luiss.it/en/university/academic-calendar and https://www.luiss.it/en/academic-calendar both return 404. intakeMonths is left empty rather than assumed to be September. 2) No minimum GPA or minimum degree mark is published for this programme. The only numeric admission thresholds published are GMAT 515 out of 805 and GRE 154 out of 170, and the 24 credit curricular floor. 3) The number of places for this degree is not published, although the ranking clause turns on it. 4) The RoME major has its own page at https://www.luiss.it/en/courses-and-masters-programmes/graduate-school/economics-institutions-and-financial-markets/rome-master-economics but it is not listed as a selectable track on any of the four master's admission routes. How a candidate applies to RoME is not stated on the pages I read. 5) No live application form exists yet. Both certification pages say the form is "available on this page", but no form or external application link is in the markup today, because applications open in December 2026. applicationUrl therefore points at the Luiss How to apply hub, not at a form. 6) The 2027/2028 admission notice is not yet published, so the documents list and deadlines here come from the route pages' advance summaries and may be superseded in November 2026. 7) The site is inconsistent about this degree's Italian track name. One page prints "Economics, Financial Institutions and Markets - Banks and Financial Intermediaries" where the others print "Economics, Institutions and Financial Markets - Banks and Financial Intermediaries". Luiss Guido Carli, Graduate School, Economics, Institutions and Financial Markets
Application deadline
closes in 188 days
English requirement
The university's own test
The university’s exact wording
“The clause for this programme, under the heading "Minimum academic requirements for admission to the selection process for the 2027/2028 academic year", section "Master's Degree in Economia, Istituzioni e Mercati Finanziari": "In addition, students must have at least a B2 level of English, which will be assessed during the admission test." The same page states the general rule that governs how that B2 is proved: "For degree programmes taught in English, in addition to meeting the minimum curricular requirements, applicants must have a level of English proficiency equivalent to at least B2. Depending on the admission route taken by applicants, proficiency at this language level is verified (for example, by passing the Admission Test in English or by submitting GMAT or GRE certificates)." The admission test route adds: "Luiss offers the option to take the Admission Test in either Italian or English... If you choose to take the Test in English, you will be able to apply for courses in both Italian and English." No IELTS, TOEFL, PTE, Duolingo or medium of instruction letter is named anywhere in this programme's admission pages. On the certification route the English check rides on the GMAT or GRE score itself: GMAT minimum 515 out of 805, or GRE minimum 154 out of 170 in the Quantitative and Verbal sections.”
Unverified. Not yet verified. A person has not opened the source for this cycle. Read off the institution own programme page on 13 September 2026 by a single research pass. It has NOT been independently re-checked: the verification stage of that run was stopped before it reached this record, so the record renders as unverified rather than claiming a receipt it does not have. The English requirement is held at unverified unless a per programme source URL was found. Figures here are a starting point for a reader, not a checked claim. Open questions: 1) No intake month is published. Neither the programme page nor any admission page I reached states when teaching starts, and https://www.luiss.it/en/university/academic-calendar and https://www.luiss.it/en/academic-calendar both return 404. intakeMonths is left empty rather than assumed to be September. 2) No minimum GPA or minimum degree mark is published for this programme. The only numeric admission thresholds published are GMAT 515 out of 805 and GRE 154 out of 170, and the 24 credit curricular floor. 3) The number of places for this degree is not published, although the ranking clause turns on it. 4) The RoME major has its own page at https://www.luiss.it/en/courses-and-masters-programmes/graduate-school/economics-institutions-and-financial-markets/rome-master-economics but it is not listed as a selectable track on any of the four master's admission routes. How a candidate applies to RoME is not stated on the pages I read. 5) No live application form exists yet. Both certification pages say the form is "available on this page", but no form or external application link is in the markup today, because applications open in December 2026. applicationUrl therefore points at the Luiss How to apply hub, not at a form. 6) The 2027/2028 admission notice is not yet published, so the documents list and deadlines here come from the route pages' advance summaries and may be superseded in November 2026. 7) The site is inconsistent about this degree's Italian track name. One page prints "Economics, Financial Institutions and Markets - Banks and Financial Intermediaries" where the others print "Economics, Institutions and Financial Markets - Banks and Financial Intermediaries". Luiss Guido Carli, Graduate School, Economics, Institutions and Financial Markets
- LevelMaster's degreeLaurea Magistrale
- SubjectBusiness and economics
- Taught inTaught in Italian and English
- Length2 years
- DeliveryOn campus
- StartsNot yet read
- AdmissionRestricted, entrance testThere is an entrance test
- Minimum markNot yet read
The money
What you pay, and what you must prove you have.
Two different things, kept apart on purpose: a bill you pay, and a balance a visa officer needs to see that never gets spent.
What you pay
Tuition, per year
€16,000
about PKR 5,143,000
Why this figure, and not a lower one
Italian state fees usually scale with an assessed household indicator. Where the call states one figure it appears above; where it states a scale, this page says so rather than averaging it.
Read off the institution own programme page on 13 September 2026 by a single research pass. It has NOT been independently re-checked: the verification stage of that run was stopped before it reached this record, so the record renders as unverified rather than claiming a receipt it does not have. The English requirement is held at unverified unless a per programme source URL was found. Figures here are a starting point for a reader, not a checked claim. Open questions: 1) No intake month is published. Neither the programme page nor any admission page I reached states when teaching starts, and https://www.luiss.it/en/university/academic-calendar and https://www.luiss.it/en/academic-calendar both return 404. intakeMonths is left empty rather than assumed to be September. 2) No minimum GPA or minimum degree mark is published for this programme. The only numeric admission thresholds published are GMAT 515 out of 805 and GRE 154 out of 170, and the 24 credit curricular floor. 3) The number of places for this degree is not published, although the ranking clause turns on it. 4) The RoME major has its own page at https://www.luiss.it/en/courses-and-masters-programmes/graduate-school/economics-institutions-and-financial-markets/rome-master-economics but it is not listed as a selectable track on any of the four master's admission routes. How a candidate applies to RoME is not stated on the pages I read. 5) No live application form exists yet. Both certification pages say the form is "available on this page", but no form or external application link is in the markup today, because applications open in December 2026. applicationUrl therefore points at the Luiss How to apply hub, not at a form. 6) The 2027/2028 admission notice is not yet published, so the documents list and deadlines here come from the route pages' advance summaries and may be superseded in November 2026. 7) The site is inconsistent about this degree's Italian track name. One page prints "Economics, Financial Institutions and Markets - Banks and Financial Intermediaries" where the others print "Economics, Institutions and Financial Markets - Banks and Financial Intermediaries".
Unverified. Not yet verified. A person has not opened the source for this cycle. Read off the institution own programme page on 13 September 2026 by a single research pass. It has NOT been independently re-checked: the verification stage of that run was stopped before it reached this record, so the record renders as unverified rather than claiming a receipt it does not have. The English requirement is held at unverified unless a per programme source URL was found. Figures here are a starting point for a reader, not a checked claim. Open questions: 1) No intake month is published. Neither the programme page nor any admission page I reached states when teaching starts, and https://www.luiss.it/en/university/academic-calendar and https://www.luiss.it/en/academic-calendar both return 404. intakeMonths is left empty rather than assumed to be September. 2) No minimum GPA or minimum degree mark is published for this programme. The only numeric admission thresholds published are GMAT 515 out of 805 and GRE 154 out of 170, and the 24 credit curricular floor. 3) The number of places for this degree is not published, although the ranking clause turns on it. 4) The RoME major has its own page at https://www.luiss.it/en/courses-and-masters-programmes/graduate-school/economics-institutions-and-financial-markets/rome-master-economics but it is not listed as a selectable track on any of the four master's admission routes. How a candidate applies to RoME is not stated on the pages I read. 5) No live application form exists yet. Both certification pages say the form is "available on this page", but no form or external application link is in the markup today, because applications open in December 2026. applicationUrl therefore points at the Luiss How to apply hub, not at a form. 6) The 2027/2028 admission notice is not yet published, so the documents list and deadlines here come from the route pages' advance summaries and may be superseded in November 2026. 7) The site is inconsistent about this degree's Italian track name. One page prints "Economics, Financial Institutions and Markets - Banks and Financial Intermediaries" where the others print "Economics, Institutions and Financial Markets - Banks and Financial Intermediaries". Luiss Guido Carli, Graduate School, Economics, Institutions and Financial Markets
To be considered, once
€150
about PKR 48,000
Paid to the university when you submit. Non-refundable, and separate from anything the visa itself costs.
Unverified. Not yet verified. A person has not opened the source for this cycle. Read off the institution own programme page on 13 September 2026 by a single research pass. It has NOT been independently re-checked: the verification stage of that run was stopped before it reached this record, so the record renders as unverified rather than claiming a receipt it does not have. The English requirement is held at unverified unless a per programme source URL was found. Figures here are a starting point for a reader, not a checked claim. Open questions: 1) No intake month is published. Neither the programme page nor any admission page I reached states when teaching starts, and https://www.luiss.it/en/university/academic-calendar and https://www.luiss.it/en/academic-calendar both return 404. intakeMonths is left empty rather than assumed to be September. 2) No minimum GPA or minimum degree mark is published for this programme. The only numeric admission thresholds published are GMAT 515 out of 805 and GRE 154 out of 170, and the 24 credit curricular floor. 3) The number of places for this degree is not published, although the ranking clause turns on it. 4) The RoME major has its own page at https://www.luiss.it/en/courses-and-masters-programmes/graduate-school/economics-institutions-and-financial-markets/rome-master-economics but it is not listed as a selectable track on any of the four master's admission routes. How a candidate applies to RoME is not stated on the pages I read. 5) No live application form exists yet. Both certification pages say the form is "available on this page", but no form or external application link is in the markup today, because applications open in December 2026. applicationUrl therefore points at the Luiss How to apply hub, not at a form. 6) The 2027/2028 admission notice is not yet published, so the documents list and deadlines here come from the route pages' advance summaries and may be superseded in November 2026. 7) The site is inconsistent about this degree's Italian track name. One page prints "Economics, Financial Institutions and Markets - Banks and Financial Intermediaries" where the others print "Economics, Institutions and Financial Markets - Banks and Financial Intermediaries". Luiss Guido Carli, Graduate School, Economics, Institutions and Financial Markets
What you must prove you have
Funds you must show, per year
€10,179.85
Health cover, minimum
€30,000
How these two are decided
Funds you must show: in your own account, or evidenced by a sponsor or an award. Cash is refused.
Health cover: emergency treatment and repatriation, across the Schengen area, for as long as the visa lasts.
Universitaly (MUR)checked
Who may hold the money, and the refusal of cash, are the embassy’s own rules for a study visa rather than the university’s.
Embassy of Italy, Islamabadchecked
Rent, food and travel are in none of the figures above. What a month actually costs in Italy.
Amounts are in euro, as published. €1 = PKR 321.43, 30 August 2026.
Entry requirements
What this call asks of you.
The admission model first, because it is the one that closes a degree for a year. Everything below it is quoted from the university's call for applications for this cycle, in its order.
How it admits
Restricted, entrance test
accesso programmato
The university's own wording
“Luiss prints neither "accesso libero" nor "accesso programmato" on this programme's pages in either language. The restriction is stated in substance on the admission route pages. Admission test route: "Rankings are determined for each degree programme indicated as a first choice, based on the score obtained in the Test, expressed out of 100. The Committee sets a minimum admission threshold for each degree course or specialisation, taking into account the scores achieved by candidates, the allocated number of places, and the aim of fostering a diverse class composition. If places remain available, the Committee may also consider the degree programmes indicated as second choices." Certification route: "The Commission reviews the applications and decides whether to admit candidates based on their score, taking into account the number of places available for each degree programme." The course choice is binding: "Please note: your course choice is binding for admission, ranking, and subsequent enrolment." The number of places for this degree is not published on any page I could reach.”
Entrance tests
The university's own testGMATGRE
What the call asks for
Admission is open to students enrolled in or graduates of one of the following degree programmes: L-18 (Ministerial Decree 270/04) and 17 (Ministerial Decree 509/99) Economics and Business Management; L-33 (Ministerial Decree 270/04) and 28 (Ministerial Decree 509/99) Economics
In addition, students must have at least a B2 level of English, which will be assessed during the admission test.
Students from degree programmes other than those listed above may only be admitted if they have at least 24 university credits in total (either already earned or still to be earned) in at least three of the following subject areas: Business (ECON-06/A; ECON-07/A; ECON-08/A; ECON-09/A; ECON-09/B); Economics (ECON-01/A; ECON-04/A; ECON-05/A); Statistics (STAT-01/A; STAT-02/A; STAT-04/A; MATH-03/A; MATH-03/B); Law (GIUR-01/A; GIUR-02/A; GIUR-03/A; GIUR-05/A; GIUR-06/A; GIUR-10/A)
A bachelor's degree, either already obtained or to be obtained by 18 November 2027, which allows enrolment in a master's degree programme in Italy
Certification route only: you hold one of the following international certifications: GMAT with a minimum score of 515 (out of 805); GRE with a minimum score of 154 (out of 170) in the Quantitative and Verbal sections.
Admission test route only: Luiss offers the option to take the Admission Test in either Italian or English. If you choose to take the Test in Italian, you will only be able to apply for courses taught in Italian. If you choose to take the Test in English, you will be able to apply for courses in both Italian and English.
If you hold a foreign qualification, enrolment is subject to verification of its validity by the Luiss Admissions Office. You must check the validity of your qualification in advance, as well as any procedures required to obtain a study visa.
Admission test route: when applying, you can list up to two Master's degree programmes in order of preference, and the courses you choose must fall within the same subject area, either Economics or Law/Political Science. Certification route: applicants may apply for only one Master's Degree programme.
The English rule
The university's own test
“The clause for this programme, under the heading "Minimum academic requirements for admission to the selection process for the 2027/2028 academic year", section "Master's Degree in Economia, Istituzioni e Mercati Finanziari": "In addition, students must have at least a B2 level of English, which will be assessed during the admission test." The same page states the general rule that governs how that B2 is proved: "For degree programmes taught in English, in addition to meeting the minimum curricular requirements, applicants must have a level of English proficiency equivalent to at least B2. Depending on the admission route taken by applicants, proficiency at this language level is verified (for example, by passing the Admission Test in English or by submitting GMAT or GRE certificates)." The admission test route adds: "Luiss offers the option to take the Admission Test in either Italian or English... If you choose to take the Test in English, you will be able to apply for courses in both Italian and English." No IELTS, TOEFL, PTE, Duolingo or medium of instruction letter is named anywhere in this programme's admission pages. On the certification route the English check rides on the GMAT or GRE score itself: GMAT minimum 515 out of 805, or GRE minimum 154 out of 170 in the Quantitative and Verbal sections.”
The application file
- Certification route, from the FAQ What do you need to apply: Identity document/passport showing citizenship.
- Certification route: Certificate of enrollment or degree with a transcript of records.
- Certification route: A valid, official GMAT or GRE certificate.
- Certification route, during the application process: attach the GMAT or GRE certificate with the corresponding score
- Certification route, during the application process: authorise Luiss to receive the official score via the certifying body's platform: gmac.com / mba.com for the GMAT; ets.org for the GRE
- Admission test route, required documentation: Passport or identity card showing citizenship
- Admission test route, required documentation: a certificate of enrolment or a degree certificate (transcript of records) showing a list of exams, credits (CFU), the field of study (SSD), and the degree class
English, accepted proofs
- The university's own test
Only what this call names. A proof another degree at the same university accepts is not on this list unless this call says so too.
Before any of it counts
Start the legalisation chain first
A degree awarded outside Europe has to be attested and legalised before an Italian university reads it. That chain is decided by the country you apply from, and no office on it publishes a turnaround.
The degree
About this degree.
A two year Luiss Guido Carli master's degree in economics and financial markets, worth 120 ECTS, offering three majors: Banks and Financial Intermediaries in Italian, Economics, Data and Policy Analysis in English, and RoME in English with the Einaudi Institute for Economics and Finance. It suits economics or business graduates who want quantitative training for banking, policy analysis or a research career, and who can sit the Luiss Admission Test or submit a GMAT or GRE score.
This is a two year Master's Degree at Luiss Guido Carli in Rome. Luiss places it in the Graduate School. The degree is worth 120 ECTS. The programme page classifies it as LM-56. Teaching is in English and Italian. The year published on the page is 2027/2028.
The university's full description
You choose one of three majors when you enrol. Banks and Financial Intermediaries is taught in Italian. Luiss describes it as a pathway for students who want to work in banks, asset management companies, insurance companies and funds. Economics, Data and Policy is taught in English. It combines economic skills with the use of data to support business, public and institutional decisions. RoME, the Rome Master in Economics, is taught in English. Luiss runs it with the Einaudi Institute for Economics and Finance for a select number of students, and it focuses on advanced economic research methodologies.
The study plan is published on the programme page itself. The Banks and Financial Intermediaries major opens with Mathematical Methods for Finance at 10 ECTS, Monetary Theory and Policy at 8 ECTS, Advanced Corporate Finance at 6 ECTS and Markets and Financial Intermediaries Law (advanced course) at 6 ECTS. Its second semester adds Economics of Uncertainty and Behavioural Finance, Financial Market Economics, Econometrics for Finance and Portfolio Theory and Management, each 8 ECTS. Its second year adds Banking institutions and risk management and Non-Bank Financial Intermediation, each 6 ECTS.
The Economics, Data and Policy Analysis major opens with Quantitative Methods for Economics, Econometric Methods and Applications and Microeconomic Analysis, each 8 ECTS, plus Cases in Antitrust and Competition at 6 ECTS. Its second semester adds Macroeconomic Analysis at 8 ECTS, then Policy Evaluation, Financial Economics, Financial Contracts and Strategy and Strategic Decision Making, each 6 ECTS. Its second year adds Public Economics and Policies and Machine Learning for Economists, each 6 ECTS.
The RoME major runs Mathematical Methods for Economics, Mathematical Statistics, Microeconomic Analysis, Market Law and Regulation, Macroeconomic Analysis and Advanced Corporate Finance at 8 ECTS each, Econometric Theory at 10 ECTS and Economic Workshop at 4 ECTS in the first year. Its second year runs Asset Pricing and Advanced Financial Economics at 8 ECTS each, three electives worth 12 ECTS, and one core course chosen from Applied Microeconomics or Advanced Macroeconomics at 6 ECTS.
All three majors end with a Final Thesis worth 16 ECTS. All three include an internship, worth 6 ECTS on the Banks and Financial Intermediaries and Economics, Data and Policy Analysis majors and 8 ECTS on RoME. The first two majors also carry two Certificates of 6 ECTS each and 12 ECTS of elective courses. Luiss issues a notarised digital micro-credential on the blockchain when a student completes a Certificate.
Admission is by selection, not by open enrolment. Luiss draws up a ranking for each degree programme and sets a minimum admission threshold against the number of places. There are two routes into this degree. One is the Luiss Admission Test, which can be taken in Italian or in English. The other is direct admission on a GMAT or GRE score. Luiss asks for no IELTS or TOEFL certificate for this degree. English is checked inside the Admission Test, or through the GMAT or GRE certificate.
The single annual fee for the first year in 2027/2028 is 16,000 euro. Luiss splits it into three instalments and adds the regional tax. A participation fee of 150 euro is mandatory and is not refunded. Applications for 2027/2028 open in December 2026. The full admission notice, which will carry the complete requirements and calendar, is published from November 2026.
Where it leads
As the university states it on its own page. Not a placement rate and not a promise.
- Major in Banking and Financial Intermediaries: Financial analyst and portfolio manager
- Major in Banking and Financial Intermediaries: Risk Manager and Quantitative Analyst
- Major in Banking and Financial Intermediaries: Specialist in credit, insurance, and financial markets
- Major in Banking and Financial Intermediaries: Specialist in banking and financial regulation and supervision
- Major in Banking and Financial Intermediaries: Corporate finance consultant or specialist
- Major in Economics, Data, and Policy: Data-Driven Economist for Business
- Major in Economics, Data, and Policy: Development Projects Expert
- Major in Economics, Data, and Policy: Economic Policy Analyst
- Major in Economics, Data, and Policy: Financial Economist, specialising in risk management, investments, and quantitative analysis
- RoME Major: Typically, after completing a PhD that involves an additional four to five years of training, graduates naturally find employment opportunities in academia, research institutes, central banks, and international organisations such as the International Monetary Fund, the World Bank, and the OECD.
Asked about this programme
The questions this one gets.
Do I need IELTS or TOEFL for this degree?
No. Luiss names no English certificate for this master's degree. The requirement is a B2 level of English, and the page says it "will be assessed during the admission test". If you apply on the certification route instead, your GMAT or GRE score covers it.
What is the application deadline for 2027/2028?
It depends on the route. The GMAT or GRE certification route takes applications from December 2026 to 31 March 2027. The Luiss Admission Test route takes applications from December 2026 to 8 April 2027, with the test held from 19 to 22 April 2027.
What does the first year cost?
The single annual fee for the first year in 2027/2028 is 16,000 euro, payable in three instalments, plus the regional tax. A separate participation fee of 150 euro is mandatory and non-refundable when you apply.
Which majors can I apply to?
The admission pages list two tracks of this degree as choices: Banks and Financial Intermediaries, taught in Italian, and Economics, Data and Policy Analysis, taught in English. The RoME major is described on the programme page but is not listed as a choice on these four routes.
What if my bachelor's is not in economics?
You may still be admitted if you have at least 24 university credits in total, already earned or still to be earned, in at least three of the four subject areas Luiss lists: Business, Economics, Statistics and Law. The exact scientific sector codes are on the minimum curricular requirements page.
When is the full admission notice published?
From November 2026. The programme page says the competition notices will be published in October 2026, and the admissions pages say the notices will be available from November 2026. Until then the requirements and calendar on the route pages are described as initial information.
One programme, one university, once a year.
That is what Universitaly allows. Three questions tell you where you stand before you spend that choice: the degree level, what the visa wants in the bank, and how much calendar is left.
Universitaly (MUR)checked
The shortlist is a conversation
An advisor reads your documents against what this call asks for and tells you whether the file will clear, and if it will not, what to fix.
Tuition a year€16,000
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