World-Class Economics

Education and Research in Ukraine

 KSE founders:

• Economics Education & Research Consortium

(EERC)

• The Victor Pinchuk Foundation

KSE contributors
Core Sponsors: Scholarships and Other
Support Providers:

• Eurasia Foundation • Citigroup Foundation

• Victor Pinchuk Foundation • Concorde Capital
• Open Society Institute • Dragon Capital
• Swedish Ministry for Foreign Affairs • Finnish Embassy to Ukraine
• Swedish Agency for International • Kytasty Foundation
Development (SIDA) • SEB Bank
• The Global Development Network • Swedbank
• EERC/KSE Faculty
KSE MA Program
As an international consortium of donors, 12 years ago, in Kyiv,
EERC created the western-standard Master’s Program in
Economics, similar to other schools, also created by
international donors:
• Center for Economic Research and Graduate Education
(Prague)
• Central European University (Budapest)
• New Economic School (Moscow)
KSE MA mission

• To create a new generation of economists

• To create a sustainable local capacity for economic

research and education
KSE International Advisory Board
• Professor Robert Baldwin, University of Wisconsin, USA
• Professor Charles Becker, Duke University, USA
• Professor Irwin Collier, Freie Universitat Berlin, Germany
• Professor Paul Gregory, University of Houston, USA
• Professor John Earle, Central European University, Hungary
• Professor Peter Kennedy, Simon Fraser University, Canada
• Professor Larysa Krasnikova, NaUKMA, Ukraine
• Professor Joseph Pelzman, George Washington University,
USA
• Professor Mark P. Taylor, Global Market Strategies Group, UK
• Professor Jürgen Wolters, Freie Universitat Berlin, Germany 
KSE Board of Directors
• Victor Pinchuk, Honorary Chair

• Max Alier, International Monetary Fund

• Anders Aslund, Co-Chair; Peterson Institute for International Economics
• Tom Coupe, Ex officio, KSE
• Richard Ericson, Chairman of the Research Network IAB; East Carolina University
• Paul Gregory, Chairman of the KSE IAB; University of Houston
• Sten Luthman, Swedish Ministry of Foreign Affairs
• Hryhoriy Nemyria, Vice Prime Minister for Foreign Affairs
• William Newton-Smith, Open Society Institute (OSI)
• Gerardo della Paolera, Global Development Network
• Leonid Petukhov, Geo Alliance Concern
• Irina Paliashvili, RULG-Ukrainian Legal Group, P.A.
• Regina Yan, Co-Chair; Eurasia Foundation
• Yuriy Yekhanurov, Ukrainian Presidential Secretariat
KSE VIP-persons
• The Honorary Chairman of the Kyiv School of
Economics: Victor Pinchuk

• Co-Chairs of the KSE Board of Trustees:

Anders Åslund (Peterson Institute for International
Economics) and Regina Yan (Eurasia Foundation)

• KSE Director: Tom Coupé

The Kyiv School of Economics is
• an internationally recognized Centre of Excellence that
ranks with the best schools in Central and Eastern Europe
• competitive on the world market, in both economics
education and research
• a school that produces the future generation of
economists in the region.
• financially stable: in addition to support from international
and local donors, the Victor Pinchuk Foundation has
committed to support KSE with 10 million dollars for 10
years.
KSE offers students
• KSE offers 2 MAs: MA in Financial Economics and MA in Economic
Analysis

• KSE provides unique training in economics modelling and analysis

• All classes taught in English

• An academic curriculum modelled on the best economics and financial

economics graduate programs in North America and Western Europe

• A joint program with the University of Houston that provides KSE

students with a master’s degree in economics accredited in the US
KSE offers students

• Active partnerships with foreign educational and research institutions

(Stockholm School of Economics, Norwegian Institute of International
Affairs, CERGE-EI, Prague and many others)

• Opportunities for internships at the best Ukrainian companies,

government structures and international institutions

• Unmatched access to economics literature, Western textbooks, statistical

databases, econometrics software, and modern computing facilities
Why is KSE different?

• Hard Work

• Modern, Advanced Economics

• Western-trained Faculty
What is special about KSE?
• KSE faculty include experienced Western and
Western-trained professors (with Ph.D. degrees from
abroad, great teaching experience and publications in
international journals)

• KSE invites top professors to teach at the program

or visit the program to give a public and academic
lectures
Why is western-trained faculty important?

• Best Guarantee for ‘Modern’ economics

• Best Guarantee for international approach
• Best Guarantee for quality education
• Best Guarantee for quality research
KSE professors
Full-time faculty (name, degree, university where degree was obtained):

• Elena Besedina, Ph.D., Bocconi University

• Tom Coupé, Ph.D., Free University of Brussels
• Olena Nizalova, Ph.D., Michigan State University
• Denys Nizalov, Ph.D., Michigan State University
• Pavlo Prokopovych, Ph.D., University of Michigan
• Oleksandr Shepotylo, Ph.D., University of Maryland at College Park
• Hanna Vakhitova, Ph.D., University of Kentucky
• Volodymyr Vakhitov, Ph.D., University of Kentucky
• Olesia Verchenko, Ph.D., University of Virginia
• Valentin Zelenyuk, Ph.D., Oregon State University
KSE professors
Visiting professors (name, affiliation):

• Roy J. Gardner, Indiana University

• Iikka Korhonen, Helsinki School of Economics and Business Administration
• Lilia Maliar, University of Alicante
• Seguei Maliar, University of Alicante
• Aaron Mehrotra, Economist, Institute for Economies in Transition/ Bank of Finland
(BOFIT)
• Arne Melchior, NUPI
• Topi Miettinen, Research Fellow, Stockholm School of Economics (SITE)
• Bent Sorenson, University of Houston
• Robert Swidinsky, University of Guelph
• Matti Viren, Professor, University of Turku
KSE professors
Part-time faculty, residing in Ukraine (name, degree, university where
degree was obtained; affiliation):

• Larysa Krasnikova, Candidate of Economic Sciences, Institute of

Cybernetics; NaUKMA
• Irina Lukyanenko, Doctor of Economic Sciences, Kyiv National
Economic University; NaUKMA
• Edilberto Segura, MBA, Stanford University and Ph.D., Columbia
University; SigmaBleyzer
• Volodymyr Shportyuk, Candidate of Physical and Mathematical
Sciences, Kyiv State University; NaUKMA
KSE curriculum
First Year Courses:

• Macroeconomics
• Mathematics for Economists
• Microeconomics
• Statistics and Econometrics
 KSE curriculum
Second Year Courses:
MA in Financial Economics
• Monetary Economics
• Issues in Financial Economics and Strategy
(Top Professors Course)
• Theory of Corporate Finance
• Financial Economics I
• Emerging Capital Markets
• Financial Economics II
• Issues in Financial Economics
• •
Money and Banking
• International Finance
• Research & Economic Policy Analysis
Workshop
• Thesis Workshop
MA in Economic Analysis
• Public Economics I
• New Economic Geography
• Issues in Financial Economics and Strategy
(Top Professors Course)
• Economic Policy Analysis I
• Labor Economics I
• International Trade I
• Issues in Microeconomics I: Information Economics
• Advanced Macroeconomics I
• Industrial Organization I
• Economics of Europe
Game Theory
• Demography and Transition
• Research & Economic Policy Analysis
• Thesis Workshop
Tuition at KSE
The tuition fee at the Kyiv School of Economics is Euro 3,000 per student per year.
For Ukrainian Students:
•  For the first year of studies (2010-11 academic year), KSE provides:
•  10 full first-year scholarships covering the full first-year tuition fee of the top 10
students based on the admission exams
• 20 partial first-year scholarships covering half of the first-year tuition fee (i.e. Euro
1,500) of the students ranked from 11 to 30 on the admission exams.
For the second year of studies (2011-12 academic year), KSE provides:
 
• For the MA in Financial Economics: 3 full second-year scholarships (covering the
full second-year tuition fee) and 7 partial second-year scholarships (covering half
of the second-year tuition fee, i.e. Euro 1,500).
• For the MA in Economic Analysis: 7 full second-year scholarships (covering the
full second-year tuition fee) and 13 partial second-year scholarships (covering half
of the second-year tuition fee, i.e. Euro 1,500).
Scholarships for international students

The students from Belarus and Moldova accepted to KSE are

awarded with full scholarships funded by the Swedish
International Development Agency (SIDA) and the
Norwegian Ministry of Foreign Affairs
KSE opportunities
• KSE offers great knowledge and skills
• KSE provides great career opportunities:
- Public sector (think tanks, government)
- Private sector (consulting, banks, investment, audit,
industry)
- International organizations (IMF, World Bank, etc)
• KSE provides opportunities for continuing
studies at the Ph.D. level abroad
KSE (EERC) graduates
• Total graduates: 442

• Went to study abroad: more than 100 graduates

(already obtained a Ph.D. degree: 46 individuals)

• Current Placement:
- Working in government & public sector: 23%
- Working in private sector: 60%
- Studying at PhD programs abroad: 17%
KSE (EERC) graduates international
Recent alumni successes
• Recent KSE alumni continue to excel both in academia and business. For example,
eleven students of the class of 2009 have been accepted by top PHD programs in
Western Europe and the United States.

• PHD Placement of the Class of 2009:

 1. Bostashvili Davit – University of Houston (USA);
2. Croitorov Olga – Universidad Carlos III de Madrid (Spain)
3. Gerasymenko Iuliia – Universidad Autonoma de Barcelona (Spain);
4. Grygorenko Oleksandr – CERGE-EI;
5. Grynkiv Galyna – PennState University (USA);
6. Iurchenko Oksana – CERGE-EI;
7. Ponomar’ova Yana – ESSEC (France);
8. Pypko Sergii – PennState University (USA);
9. Sikora Iryna – University of Alicante (Spain);
10. Yatsynovich Yury – University of California, Berkeley (USA).
11.Olha Zadorozhona - Bocconi University (Italy);
Recent alumni successes
• In 2009 “Business” Magazine featured the macroeconomics forecasts of the most reputed
Ukrainian think tanks. Three out of these 4 thinks tanks are represented by KSE graduates:
Dmytro Boyarchuk, KSE’2003, Executive Director, CASE; Ildar Gazyzulin, KSE’2003,
Chief Economist, ICPS; and Veronika Movchan, KSE’1999, Research Director, IER.
• Also in 2009, Eugen Dubogryz, KSE'2003, was named among the top three investment
analysts - European Emerging Markets Metals and Mining, according to the 2009 Extel
Survey
• According to the 2009 Thomson Reuters Extel Survey, the analytical team of Dragon Capital,
which includes 3 KSE alumni, has been recognized as the best analytical team in Ukraine.
• According to the 2008 Thomson Reuters Extel Survey (Focus CIS), the analytical team of
Concorde Capital has been recognized as the best analytical team in Ukraine. The leaders
of the team are Vladimir Nesterenko, KSE’2004, and Alexander Parashiy, KSE’2004.
• Alina Slyusarchuk, KSE’2008, has been appointed as an Associate in the Research
Department of Institutional Sales and Trading Division of Morgan Stanley (London).
• Yuriy Gorodnichenko, KSE’2001, is Assistant Professor at the University of California,
Berkeley. 
• Andriy Norets, KSE’2002, is Assistant Professor at Princeton University.
• Victor Tsyrennikov, KSE’2002, is Assistant Professor at  Cornell University.
• Bogdan Povoroznyk, KSE’2004, has been appointed as Economic Analyst at the Office of the
Chief Economist, EBRD.
• Iryna Ivaschenko, EERC’1998, has been appointed as IMF Resident Representative in
Budapest.
Main employers of our graduates (private sector)
Investment Funds and Banks
• Alfa Bank
• Alfa Capital
• Castle Finance
• Citi Ukraine
• Concorde Capital
• Dragon Capital
• Foyil Asset Management
• Horizon Capital
• Hypovereinsbank Ukrayina
• Index Bank
• ING Bank Ukraine
• KINTO
• Midland Group
• Millennium Capital
• Morgan Stanley
• OTP Bank
• Phoenix Capital
• Princeton Partners Group
• Raiffeisen Bank “Aval”
• SARS
• SigmaBleyzer
• Troika Dialog
• VAbank
• UkrSibbank
• UniCredit
Main employers of our graduates (private sector)
Industry and Other Private Sector
Strategic Consulting
• Colliers International
• Consortium "Industrial Group"
• Bain & Company
• DTEC
• Boston Consulting Group
• FedEx Corporation
• Roland Berger Strategy Consultants
• General Electric
• Kraft Foods Ukraina
Audit
• Kvazar Micro
• Deloitte
• Metinvest Holding
• Ernst & Young
• Nescafe
• KPMG
• PBN
• PricewaterhouseCoopers
• Procter & Gamble
• Prudens
• SCM
• Studio 1+1
• Tetra Pak
• Ukrtransnafta
Main employers of our graduates (Public sector)
Academia
• Auburn University, USA
• Cornell University, USA
• DIW – Berlin, Germany
• Florida Atlantic University, USA
• Georgia State University, USA
• Hebrew University, Israel
• Maastricht University, Netherlands
• Princeton University, USA
• State University of Pennsylvania, USA
• SUNY - Stony Brook, USA
• University of Alberta, Canada
• University of California Berkeley, USA
• Warwick Business School, UK
• University of British Columbia, Canada
• University of Bonn, Germany
• University of California, Irvine, USA
• University of Memphis, USA
• University of Saskatchewan, Canada
• Virginia Commonwealth University, USA
• Yale University, USA
Main employers of our graduates (Public sector)
International Organizations Local Policy Institutes
• European Bank for Reconstruction and • BEST
Development (EBRD) • Institute for Economic Research and
• International Finance Corporation (IFC) Policy Consulting (IER)
• International Monetary Fund • Institute for Social and Economic
• United Nations Development Program Research (CASE)
• World Bank • International Centre for Policy Studies
(ICPS)

Government Agencies
• Ministry of Finance of Ukraine
• National Bank of Ukraine
• National Electricity Regulatory
Commission of Ukraine
• State Tax Administration
Positions that our graduates occupy
• Vice President
• Chief Economist
• Deputy Director
• Head of Research
• Chief Consultant
• Financial Analyst
• Research Associate
• Assistant Professor
 KSE Public Lectures

From left to right:

Dr. Robert Engle (Nobel Prize 2003), Dr. Francis Fukuyama and Victor
Pinchuk
 KSE Public Lectures

From left to right:

Colin Powell (Former US Secretary of State) and Victor Pinchuk
Our Students and VIP-Persons

Victor Pinchuk, James Wolfensohn with our

with our students students
Our Students and VIP-persons

Vitaliy Klichko (right) and our student (left)

Our Students and VIP-persons

Svyatoslav Vakarchuk and Andriy Shevchenko with our students

Houston MA Degree
Admission Exams
• The criteria for admission include meeting a minimum score on
the KSE General Admission Test which consists of three parts
- mathematics, economics and English. An overall score,
including interview results, will be assigned to each applicant
who has been admitted to the interview.

• Maximum number of points an applicant can receive is 100, among

which:
• KSE General Admission Test – 70 points. Out of which:
- Economics Part – 30 points
- Mathematics Part – 30 points
- English Language Part – 10 points
• Interview – 30 points
KSE admission requirements
Admission to the KSE is based on merit and is open to
any citizen of Ukraine, Belarus and Moldova who meets
the basic eligibility requirements:
• Completed specialist’s or bachelor’s degree
• Proficiency in English
• Strong mathematical skills
• Submission of required documents for admission by
the specified deadline
• A prior specialization in economics is not essential.
How to apply to KSE?
Deadline for receipt of the applications is June 28, 2010.

The KSE General Admission Test and interviews will

be held in Kyiv on July 5-7, 2010.

All information is available online: www.kse.org.ua

Visit our web site

www.kse.org.ua