The aim of the admission tests to the MSc in Global Economics and Finance is to select the most motivated and prepared applicants who want to become professionals in finance and economics.

! The applicant does not require to sit for the Admission tests in case if he/ she has 

>>>Certificate TOEFL (IBT min 80) / IELTS (min 6.0) / CAE / BEC Higher/ BEC Vantage AND

>>>GMAT or GRE.

The test results must be confirmed with official certificates from organizations authorized to administer such tests.

Our institutional codes for International tests:
GMAT: 0QB (0QB-Q0-97) (Lomonosov Moscow State University, Master of Science in Global Economics and Finance)

GRE: 2747 (Lomonosov Moscow State University, Master of Science in Global  Economics and Finance)


The First Group

23.06.2022, at 10.00 (MSC time) – English test, on-line via ZOOM.
28.06.2021, at 11.00 (MSC time) – Economics, on-line via ZOOM

The Second Group

22.07.2022 at 11.00 (MSK time) – Economics, on-line via ZOOM
25.07.2022 at 10.00 (MSK time) – English test, on-line via ZOOM

Questions and Answers Session  (Pre-exam consultation)

For admission test in English:

22.06.2022  at 12.00

For admission test in Economics:

27.06.2022  at 12.00

20.07.2022 at 12.00


The test results to be discussed on the next day after the exam.



Admission test for the English language is used to check the level of English language proficiency of the Admission seeker. It takes part for 1 hour 20 minutes.
The test is considered “passed” in case if the Enrollee gets min 40 points out of 100 possible points.

To pass the admission test you will be asked to write two essay on-line. Please download the Essay requirements for English test here.

! The applicant does not require to sit for the English language test in case if he/ she has a

  • Certificate TOEFL (IBT min 80) / IELTS (min 6.0) / CAE / BEC Higher/ BEC Vantage.



Admission test in Economics is aimed at assessing the professional competencies of the enrollee, necessary for the successful education at the MSc in Global Finance and Economics in English.

The test in Economics takes part for 45-60 minutes. The enrollee should try to present his answers to the exam questions in the most complete way.

! The applicant does not require to sit for the test in Economics  in case if he/ she has a

  •  GMAT (min 475) / GRE: (min 130) certificate.

To prepare well for the test in Economics we advise you to check the

We also advise you to pay particular attention to the following topics:

Topic 1. Monetary System

The kinds and the functions of money. Modern banking system: the structure and functions of the banking system. The Central bank and commercial banks: functions and interactions. Money creation with fractional-Reserve Banking.  The Money Multiplier.

Topic 2. Inflation and Unemployment

Identifying Unemployment; reasons for unemployment. How is unemployment is measured? The Classical Theory of Inflation.  The Cost of Inflation. Inflation targeting policy and it’s economic costs. The trade-off between Inflation and Unemployment: the Phillips curve.

Topic 3. Foreign Currency Exchange Rate and  Market

Exchange rate: Nominal and Real Exchange Rate.  Purchasing Power Parity. Factors affecting the real exchange rate. Exchange rate regimes. Characteristics and types of foreign exchange markets. Participants of the foreign exchange market. Open currency position.

Topic 4. Financial Markets

Types and functions of financial markets. International financial market: the international securities market and international foreign exchange market. Financial Intermediaries.  The role of financial intermediation in ensuring the effectiveness of economic development. Financial system regulation.

Topic 5. Monetary Policy and Regulation of the Banking System

Central bank: Mission, Role, and Functions. Central Bank of Russia and Monetary Policy.   Banking Supervision and Regulations of Banking Activities. Types of Banks and Non-bank Credit Institutions. Lending to corporate clients and individuals: application of financial ratios (calculation of indicators and their application for assessing the reliability of the client). Financial intermediaries in the market and their role in the distribution of financial resources.

Topic 6. The International Flow of Capital

The Market of Loanable Funds. The International Flows of Goods and Capital.  The Consequences of International Capital inflows into Domestic Market.  Transnational Corporations.  Risks Associated with the International Capital Flows. Regulation of International Capital Flows.

Recommended Literature

  1. Gregory Mankiw: Macroeconomics, Worth Publishers; Eleventh edition, 2021
  2. Frederic S. Mishkin: The Economics of Money, Banking and Financial Markets, The Pearson, 5th edition, 2018
  3. Simulations:  http://gmat.hult.edu/
  4. https://www.ets.org/gre/

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