The PhD in Economics of FGV EPGE is a course that aims to train academics to dialogue with the most advanced topics in Economics at the global level.
The emphasis of PhD is quantitative, bordering selected fields of economic science, but seeking to train academics with sophisticated mastery of all relevant areas of economics. The PhD is completed with the defense of a thesis that represents an original contribution to the literature on the chosen subject.
The PhD Program of FGV EPGE follows the model of the main international economics departments, sharing the same Basic Cycle and Research Areas of the Master’s Program. Students pursuing the doctoral degree have an ideal deadline of forty-eight (48) months and a maximum of fifty-four (54) months to obtain the degree. This deadline is counted from the date of entry into the PhD course.

Research Lines
•    Economic Development
•    Econometrics
•    Finance
•    Applied Microeconomics
•    International Economy
•    Monetary Economy
•    Economic Theory


Access to the PhD program of FGV EPGE is granted in two ways:
In the first, students enter the Master’s degree course at FGV EPGE, subsequently pursuing the PhD.
The second form is through the Direct PhD. In it, students enter the PhD program directly, without attending a Master’s degree. The Master’s degree is not a requirement for access to the direct PhD. There is also no need for a degree in Economics.

EPGE will select its applicants for the Direct PhD Program in Economics through two possible forms of entry, which may occur simultaneously, if it is in the applicant’s interest, provided that the documentary and regulatory requirements of each process described in the Public Notice are met.

1 – External Selection
Traditionally, FGV EPGE selects its students from the PhD Program through analysis of academic information and documents.
In this form of entry, applicants for the PhD Program are selected by a Committee composed of the Program’s Professors, which will take into consideration, in addition to other attributes, the Letters of Recommendation, possibilities and the applicant’s aptitude to the academic activities required in the course, as well as their performance on the ANPEC or GRE exams.
Please read the Public Notice for more details regarding the selection process.

2 – Selection by grade equal to or greater than eight (8) in the optional course of the EPGE Graduate Program called “Introduction to Mathematical Analysis”
Alternatively to the traditional External Selection process of FGV EPGE’s Direct PhD Program in Economics, the School may also accept students who have obtained a grade equal to or greater than eight (8) in the Introduction to Mathematical Analysis Course.
Students from any Higher Education Institution in economics or related fields (such as Engineering, Mathematics, Administration, and Statistics) are eligible to enroll in this course.
The course will be offered annually from August to October.
Information on the student selection process for the Introduction to Mathematical Analysis course should be obtained from the FGV EPGE website.
Please read the Public Notice for more details on the PhD Program selection process
FGV EPGE is especially interested in motivated students and seeks to facilitate the access of young people to the PhD program. To this end, it invites undergraduates and graduates from all areas – in particular, Economics, Mathematics, Statistics, Engineering and Administration – to participate in our admission process.

Click here to access the list of documents required for enrollment.

Click here for more information on the Regulation.

Click here to access the ANPEC 2020 exam calendar.
‒    Registration: until July 31, 2019   
‒    Examinations: September 25 and 26, 2019
‒    Result: November 4, 2019

Click here to access the GRE (Graduate Record Examination – General Test).

PhD Program Calendar
Registration – 8/1 to 10/15/2019
Registration Formalization (delivery of documentation) – 1/8 to 15/10/2019
Results Release – 6/11/2019
Enrollment – from 12/11/2019 to 22/11/2019
Leveling Module * – 25/11 to 20/12/2019 – Description

Beginning of the Compulsory Subjects – 13/1/2020
* The approval of the applicant for either form of entry in EPGE’s Direct PhD Program will allow entry into the Program as early as November 2019 through optional enrollment in the Leveling Module. The purpose of the Leveling Module is to provide preliminary knowledge for the School’s math courses.

Applicants approved in the FGV EPGE selection process are exempt from payment of the course tuition fees and may apply for scholarships through funding agencies.  The values and rules for obtaining and maintaining scholarships are subject to the rules established by public funding agencies, namely: CNPq (National Council for Scientific and Technological Development), CAPES/PROEX (Coordination for Improvement of Higher-Education Personnel / Academic Excellence Program), and FAPERJ (Research Support Foundation of the State of Rio de Janeiro). Partnerships with a number of private institutions have also made it possible over the past few years to provide additional scholarships.


FGV EPGE’s PhD Program is exempt from tuition fees for its students.



  • Math Leveling


  • Macroeconomic Theory I
  • Macroeconomic Theory II
  • Macroeconomic Theory III
  • Microeconomic Theory I
  • Microeconomic Theory II
  • Microeconomic Theory III
  • Game Theory
  • Economic Theory and Advanced Macroeconomics I
  • Economic Theory and Advanced Macroeconomics II
  • Statistics I
  • Statistics II
  • Mathematical Analysis I
  • Mathematical Analysis II
  • Econometrics I
  • Brazilian Economy Seminars
  • Econometrics Field Subject



  • Economic Development
  • Econometrics
  • Finance
  • Applied Microeconomics
  • International Economy
  • Monetary Economy
  • Economic Theory

The elective subjects will be subject to the availability of the program’s professors, and their offering will be released quarterly.


The Open Day – a Meeting held with the Coordination – is an opportunity organized by FGV EPGE, which enables applicants or those interested in the first selection of the PhD in Economics to learn more about the course, students and faculty, objective, and other information that should contribute to a more assertive choice.

Two meetings will be held, on the dates below. To participate, prior registration is required.

•    28/8/2019 – at 6 p.m. – Sign up
•    18/9/2019 – at 6 p.m. – Sign up


•    André Garcia de Oliveira Trindade
•    Andres Carvajal
•    Afonso Arinos Mello Franco Neto
•    Alexandre Loureiro Madureira
•    Aloisio Pessoa de Araujo
•    Caio Ibsen Rodrigues de Almeida
•    Carlos Eugênio Ellery Lustosa da Costa
•    Cecília Machado Berriel
•    Cezar Santos
•    Felipe Saraiva Iachan
•    Fernando de Holanda Barbosa
•    Francisco Junqueira Moreira da Costa
•    Giovanni Maggi
•    Humberto Luiz Ataíde Moreira
•    João Victor Issler
•    Kazuhiro Hara
•    Leandro Gorno
•    Lucas Jóver Maestri
•    Luis Henrique Bertolino Braido
•    Marcelo Cortes Neri
•    Marcelo Jovita Moreira
•    Marcelo Sant’Anna
•    Paulo Klinger Monteiro
•    Pedro Cavalcanti Gomes Ferreira
•    Renato Fragelli Cardoso
•    Renato Galvão Flôres Junior
•    Ricardo de Oliveira Cavalcanti
•    Rubens Penha Cysne
•    Sérgio R. da Costa Werlang

Dean of FGV EPGE
Rubens Penha Cysne

Deputy Dean of FGV EPGE
Aloisio Araujo

Coordinators of the Academic Graduate Program
Lucas Jóver Maestri
Humberto Luiz Ataíde Moreira


Telephone: +55 21 3799-5479 and +55 21 3799-5860
Address: Praia de Botafogo, 190, room 1123
CEP: 22250-900 | Rio de Janeiro | RJ | Brazil

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