The collaboration between the Magyar Nemzeti Bank (MNB) and the Corvinus University of Budapest (CORVINUS) is the Bank's largest educational cooperation program. In the spirit of the collaboration agreement concluded between the MNB and the CORVINUS in 2015, the central bank supports the scientific and educational tasks of the CORVINUS in several areas.
Collaboration between the Magyar Nemzeti Bank and the CORVINUS covers the following areas:
One of the most significant results of the joint work is the MNB Department, which continued to operate as an MNB Institute from the summer of 2020 as a result of the organizational restructuring of CORVINUS. One of the most important pillars of the cooperation is the education activity and the management of the renewing of the Master's Degree Program in Economic Analysis in Hungarian and English. The comprehensive reform of the master’s programmes began in January 2020. In addition to the lecturers of the MNB Institute, MNB senior executives, experienced professionals and a number of foreign academic and central bank experts help to acquire a wide range of knowledge, which is unique in the Hungarian economics higher education market. In addition to the theoretical knowledge, the practical applications also play a key role in the Master's degree in Economic Analysis, thanks to which students can experience the benefits of experience-based education. One of the unique elements of the program is the Central Bank Analyst specialization, the subjects of which enable students to deepen their knowledge in financial and economic policy, as well as to acquire econometric and macroeconomic expertise. The program started with unexpected success in its first year, which became the largest specialization in the master's program in all four years. The MNB Institute also participates in the joint dual-degree MBA program of Fudan University and CORVINUS with the so-called Economic Governance subject.
The MNB Institute strives to build a cohesive, strong community between students, as well as students and lecturers, for which purpose it also organizes community-building programs and professional discussions with MNB experts. In addition to the above, the MNB provides a number of scholarships, research opportunities, supports the student participations in summer universities and offers several internship programs at the MNB. The MNB Institute has announced 9 different competitions so far, which have motivated more than 1,000 students to participate, from undergraduate to doctoral students.
Another goal of the MNB Institute is to proactively participate in the internationalization of the CORVINUS and in the spreading of economic knowledge. Many noted foreign central bankers and economists were invited to the “Economania lectures” to share their experiences and views with students. In addition, the MNB Institute has organized several independent and co-organized conferences over the years, in cooperation with the Hungarian Economic Society, the GEO Department and the MNB Education Club. The MNB Institute strongly supports the students' scientific work, announces joint research and number of thesis topics.
In November 2017, the MNB Institute's blog, Economania, was launched. The aim of the site is to write about professional issues in an understandable way for interested readers and to present the latest economic theories to the Hungarian public.
Department of Economic Geography, Geoeconomics and Sustainable Development
Within the framework of the cooperation, the central bank also provides support to the Department of Economic Geography, Geoeconomics and Sustainable Development. Thanks to the support, an interdisciplinary organizational unit has been established where geopolitical-economic geography, spatial planning and development are integrated with the fields of environmental economics and sustainable development.
In the spring of 2016, the Department relaunched the Master's Program in Regional and Environmental Economics, which became outstandingly successful in a short time due to its renewed content and the applied innovative teaching methods, not only domestically, but also internationally. In 2019, Eduniversal ranked it being the 36th in the global list of master's programmes in the field of sustainable development and environmental management.
As a result of the cooperation, Specialization in Geopolitics and Regional and Settlement Development was started in the undergraduate courses of international studies and sociology. At the initiative of the MNB, a new geopolitical doctoral sub-program was launched in 2017 within the framework of the Multidisciplinary Doctoral School of International Relations, where education is conducted in English.
Thanks to the constantly expanding education and research portfolio, the Department has become the country's number one social science workshop focusing on sustainability, in the work of which the organizational units and staff of the Magyar Nemzeti Bank also actively participate.
Fudan – CORVINUS Double Degree MBA Program
With the professional support of the Magyar Nemzeti Bank, the Fudan - Corvinus Double Degree MBA was launched in February 2019 with the participation of the 36th best university in 2021 QS World University Ranking, the Shanghai Fudan University and the Corvinus University of Budapest accredited by the Association of MBA (AMBA). This is the first dual business degree program in China & Central Europe to offer unique regional knowledge through the presentation of key leadership trends and an understanding of Eastern and Western business culture. The language of the Program is English.
Upon successful completion of the training, participants will obtain the following degrees:
- Master of Finance (MSc) from Fudan University, and
- Master's in Business Administration (MSc) from Corvinus University of Budapest.
As part of the educational experience and student journey, through international teaching methods, business projects and current international case studies, and through intensive discussion of them, the Program aims to give participants a new perspective. In addition to the leading lecturers of the two universities, the leading experts of the Magyar Nemzeti Bank also give lectures.