Eötvös Loránd University, Department of Econonomics
1117 Budapest, Pázmány Péter sétány 1/a

International curriculum

We think Economics is not defined by its subject matter alone. Rather, we consider it a framework of analysis, a way of thinking about individual interactions and social phenomena. As such, the best way to learn it is not bound to a location, a culture or a language. While we make sure to also keep courses on offer that let students get to know the specific economic and cultural history of Hungary and Central Europe and other faculties of our university offer a plethora of localized courses too, our core program is staunchly and proudly international in nature. Thus even in the earlier Hungarian language version of the program we used to assign the best standard textbooks out there we could find and these tend to be English-language texts. In more advanced courses, where, in addition to textbooks, empirical research articles are also read, those are by necessity in English (and represent the experience of many countries around the world) since English is the lingua franca of scholarly research in our subject.


Current structure of the program can be found here.


Core textbooks


N. Gregory Mankiw: Essentials of Economics
Introduction to Economics (1st semester, mandatory course)

With its clear and engaging writing style, ESSENTIALS OF ECONOMICS, Sixth Edition, continues to be one of the most popular books on economics available today. Mankiw emphasizes material that you are likely to find interesting about the economy, including real-life scenarios, useful facts, and the many ways economic concepts play a role in the decisions you make every day.


Gary Koop: Analysis of Economic Data
Data analysis (1st semester, mandatory course)

Analysis of Economic Data introduces students to basic econometric techniques and shows the reader how to apply these techniques in the context of real-world empirical problems. The book adopts a largely non-mathematical approach relying on verbal and graphical inuition and covers most of the tools used in modern econometrics research. It contains extensive use of real data examples and involves readers in hands-on computer work.

Knut Sydsaeter, Peter I. Hammond: Essential Mathematics for Economic Analysis
Calculus (1st-2nd semester, mandatory courses)

An extensive introduction to all the mathematical tools an economist needs is provided in this worldwide bestseller.

Jeffrey Wooldridge: Introductory Econometrics
Econometrics (3rd semester, mandatory course)

Demonstrate how empirical researchers apply econometric methods to answer questions across a variety of disciplines. Timely applications and examples demonstrate impact on policy and support or disprove economic theories. More than 100 data sets are available in six formats for your flexibility.


Jack Hirshleifer, Amihai Glaezer, David Adam Hirshleifer: Price Theory and Applications
Microeconomics (2nd-3rd Semester, mandatory courses)

'For coverage, clarity, and cleverness, this is the best microeconomic book available today. Its engaging examples illustrate the importance and beauty of microeconomics. The book highlights relevancy without compromising rigor.' Todd Sandler, University of Southern California


Stephen D. Williamson: Macroeconomics
Macroeconomics (3rd semester, mandatory course)

This innovative textbook to teaching macroeconomics uses a thoroughly modern approach by building macroeconomic models from microeconomic principles.


Paul Krugman, Maurice Obstfeld: International Economics: Theory and Policy
International Economics (4th semester, mandatory course)

The textbook provides engaging, balanced coverage of the key concepts and practical applications of the two main topic areas of the discipline. For both international trade and international finance, an intuitive introduction to theory is followed by detailed coverage of policy applications.


Zwi Bodie, Robert C. Merton, David Cleeton: Financial Economics
Finance, Banking (2nd, 4th semester, mandatory courses)

This significant guide to finance has a broader scope and greater emphasis on general principles than most other books of its kind. Acclaimed authors Bodie and Merton offer an approach balanced among the three "pillars" of finance-optimization over time, asset valuation, and risk management

Roger Backhouse: The Ordinary Business of Life. A History of Economics from the Ancient World to the Twenty-First Century.
History of Economics Thought (4th-5th semester, mandatory courses)

Vividly written and unprecedented in its integration of ancient and modern economic history, this book is the best history of economics--and among the finest intellectual histories--to be published since Heilbroner's The Worldly Philosophers. It proves that economics has been anything but "the dismal science."

Paul Milgrom, John Roberts: Economics, Organization and Management
Industrial organization (4th semester, mandatory course)

A systematic treatment of the economics of the modern firm, this book draws on the insights of a variety of areas in modern economics and other disciplines, but presents a coherent, consistent, innovative treatment of the central problems in organizations of motivating people and coordinating their activities.

Joseph Stiglitz: Economics of the Public Sector
Public economics (4th semester, mandatory course)

What should be the role of government in society? How should it design its programs? How should tax systems be designed to promote both efficiency and fairness? Nobel Laureate Joseph Stiglitz uses his first-hand policy-advising experience to address these key issues of public-sector economics in this modern and accessible textbook.

Richard Baldwin, Charles Wyplosz: The Economics of European Integration
Economics of the European Union (5th semester, mandatory course)

The Economics of European Integration, 3/e provides students with an accessible presentation of the facts, theories and controversies driving rapid change in the heart of Europe. The authors combine essential elements of European history, institutions, law, politics and policies with clear and accessible explanations of the economic principles of European integration. The result is an expert analysis of the contemporary status of integration within the European Union.



Textbooks of elective courses

  • Barr: Economics of the Welfare State
  • Tietenberg: Environmental & Natural Resource Economics Cooter, Ulen: Law & Economics
  • Ehrenberg, Smith: Modern Labor Economic
  • Loury: The Anatomy of Racial Inequality
  • Folland, Goodman & Stano: The Economics of Health and Health Care
  • Kornai: The Economics of Shortage
  • DiPasquale, Wheaton: Urban Economics and Real Estate Markets
  • Ray: Development Economics
  • Fujita, Krugman, Venables: The Spatial Economy
  • Carlton, Perloff: Modern Industrial Organization
  • Motta: Competition Policy
  • Sherman: Market regulation
  • Brealey, Myers: Principles of corporate finance
    • ELTE TáTK
    • Közép-Európai Brókerképző Alapítvány
    • Concorde
    • CEU Department of Economics and Business