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Madrid – Business, Economics & Social Sciences
$6+ Million in Scholarships & Aid
Academics
Our mission is simple: to provide you with the best study abroad program possible—which includes the highest quality academic and cultural experiences.
We offer unique courses that explore Business, Economics, and Social Sciences, as well as other topics, through an in-depth and hands-on approach. World-class professors and course options at the prestigious, AACSB-accredited Universidad Carlos III Madrid (UC3M) enhance your academic experience and provide you with new perspectives in each day in class.
Create your own academic experience by selecting from the following program components. You must take 15-18 credits per semester. All program-specific courses are taught in English except for the language courses. Academic programming is scheduled five days a week.
- IES Abroad Spanish language course (required, 4 credits)
- IES Abroad English-taught area studies courses (optional, 3 or 4 credits each)
- IES Abroad Spanish-taught area studies courses (optional, 3 credits each)*
- Universidad Carlos III English-taught Business, Economics, and Humanities courses (optional, credits vary)
- Internship placement and seminar (optional, 3 credits)
*With approval, students with an advanced level of Spanish can take IES Abroad area studies courses taught in Spanish (list available on the Madrid - Language & Area Studies Program academics page) and Spanish-taught university courses.
Courses
These courses are taught at the IES Abroad center by local faculty.
To learn more about IES Abroad’s innovative theoretical and pedagogical approaches to teaching language abroad, refer to the IES Abroad MAP for Language & Intercultural Communication.
Art History
AH249 Spanish Art & Architecture | English | 4 Credits
AH/RL350 The Iberian Peninsula: Cultures & Religions through the Arts | English | 3 Credits
Data Science
DT332 Applied Data Science* | English | 3 Credits
DESCRIPTION: Data science is the craft that data scientists uses to answer meaningful business questions using available data. The mastery of the subject is essential for either managers which need to understand the insights that can be obtained from data and people that want to apply the scientific method to data. In this course, students will start questioning about how to link the business and data. A particular focus of the course will be upon the basics for applied data science, such as domain knowledge, visualization, data engineering, database management and statistical modelling. Among the most salient goals of the course will be an in-depth understanding of the most effective ways as to how communicate data insights as they are created. In particular, the course content covered during the semester is: Introduction to Python, Knowledge Discovery in Databases, ETL (Extract, Transform, Load), Data Exploration, Feature Engineering, delivering actionable insights, Visualization and Data Storytelling.
International Business
IBxxx Business Intelligence* | English | 3 Credits
DESCRIPTION: The global economy has given rise to specialist sectors that in turn have resulted in a distinctive vision of business activities. As information and knowledge are becoming increasingly specialised and fragmented, the obtaining of such knowledge has established itself as an independent company activity. Business intelligence focuses, therefore, on producing knowledge to be used in a highly competitive and globalised economy. It seeks to enable both companies and indeed countries to steal a march on their competitors and progress their strategies. Growth wise, business intelligence is not based on material activities, but on an intense search for data that can be transformed into useful and relevant knowledge. Accordingly, it consists of activities little given to measurement. This course offers a comprehensive vision of the idea of business and competitive intelligence in all its facets. On the one hand, the state perspective, as an instrument of power, and on the other hand, the business angle, as a commercial competitive advantage. On the basis of both these visions, which complement and feed into each other, the business leadership and strategic management sessions will result in a practical application of intelligence tasks.
IB/ST350 Econometrics for Business | English | 3 Credits
Internships
IN395 Internship Seminar: Leading Across Cultures | English | 3 Credits or 6 Credits
Management
MG/PS322 Organizational Behavior: Psychological Approaches in a European Perspective | English | 3 Credits
Mathematics
MT330 Linear Algebra | English | 4 Credits
Psychology
PS/MG322 Organizational Behavior: Psychological Approaches in a European Perspective | English | 3 Credits
Religion
RL/AH350 The Iberian Peninsula: Cultures & Religions through the Arts | English | 3 Credits
Spanish
SP101 Spanish Language in Context Novice Abroad I | Spanish | 4 Credits
SP201 Spanish Language in Context: Novice Abroad III | Spanish | 4 Credits
SP301 Spanish Language in Context: Emerging Independent Abroad I | Spanish | 4 Credits
SP303 Spanish Language in Context: Emerging Independent Abroad III | Spanish | 4 Credits
SP333 Spanish for Science & Engineering | Spanish | 4 Credits
SP351 Spanish Language in Context: Independent Abroad I | Spanish | 4 Credits
SP352 Spanish Language in Context: Independent Abroad II | Spanish | 4 Credits
SP402 Spanish Language in Context: Emerging Competent Abroad II | Spanish | 4 Credits
Statistics
ST/IB350 Econometrics for Business | English | 3 Credits
*Pending Curriculum Committee approval.
Partner Institution(s)
Enrolling in courses at a local university is a great way to meet Spanish students and improve your language skills. You are strongly encouraged to enroll in at least one local course. Course offerings vary each semester.
Partner university courses are not guaranteed to be offered in the coming semesters as IES has no control over the courses offered by partner institutions.
Universidad Carlos III de Madrid
A relatively new institution, the Universidad Carlos III de Madrid (UC3M) has already established leading programs in the areas of Economics, Business Administration, and Law, while its efforts in Engineering and Research are gaining international recognition. Faculty and students come from around the world to join UC3M in its role as a truly global institution.
Courses are available in the following disciplines and most are taught in English. Spanish is an option for some, depending on language level.
Location & Commute Time
Business and Economics courses are offered at the Getafe campus of UC3M, which is located approximately 45 minutes outside of the city center of Madrid by train. UC3M also offers a free bus service between their campuses.
Internships
Did you know that, while in Madrid, you can intern as part of your study abroad experience? With a part-time internship, you’ll gain global work experience that will increase your job readiness and give you an advantage after graduation. With an internship, you will:
- Take an important step in your career development by navigating the professional world with our support.
- Learn more about yourself both personally and professionally and build confidence in the process.
- Experience what working in Madrid is really like and gain an authentic understanding of the workplace culture while developing real, applicable job skills that will bolster your career readiness.
- Begin building an international network by making connections with coworkers and peers.
All of our internships are supervised and earn IES Abroad credit. You participate in a 3-credit seminar to complement the practical experience you gain during the internship for a greater understanding of work life in your host country.
Personalized Job Placements
Once you indicate your interest in an internship, we work with you to find the ideal placement that satisfies your interests and goals. We’ve placed students with a wide variety of organizations and businesses. If we don’t currently offer placements in your field of interest, we will look for one that’s right for you.
Field Trips & Events
Even though your adventure starts in Madrid, our field trips take you outside the city to discover the culture and traditions of your host country and beyond. All of these trips are included in your program cost.
Alarcón-Valencia
2 days | Fall
Visit Spain's third-largest city, Valencia, rich with delicious cuisine, excellent weather, and countless cultural outlets, including the Ciutat de les Arts i les Ciències (the City of Arts & Sciences), one of Europe's most unique cultural and scientific complexes. Includes a stop in the beautiful town of Alarcon for a delicious breakfast at its 8th-century Moorish Castle.
Alcalá De Henares
1 day | Fall
The birthplace of the illustrious Don Quixote author Miguel de Cervantes, Alcalá de Henares is home to one of the most prestigious universities in Spain. It has been declared a UNESCO World Heritage Site for its monuments, historic churches, convents, and university buildings.
Aranjuez
1 day | Spring
The palace of this city close to Madrid was the place chosen by the kings of Spain to spend the spring months due to the good weather and the vast and stunning gardens. Aranjuez was declared a World Heritage Site by UNESCO in 2001.
Ávila
1 day | Spring
Ávila has the most emblematic and spectacular city walls in Spain, built during the Medieval ages, they surround the old town that is full of monasteries, palaces and churches.
Córdoba-Almagro
2 days | Spring
A UNESCO World Heritage Site, Córdoba is a living legacy of different cultures that settled here throughout its history. The most important symbol of the city is the Mosque-Cathedral; it is one of the most beautiful examples of Muslim art in Spain. A visit to the Medina Azahara, the city of the Caliphs, is included. We will stop in the picturesque town of Almagro (declared a Historic-Artistic Site) to eat at the Parador.
El Escorial
1 day | Fall
Visit this royal site that was once the residence of the King of Spain, as well as a monastery for the Roman Catholic Church. The palace is also the burial site for nearly every king and queen since the 16th century.
Segovia
1 day | Fall & Spring
Famous for its Romanesque and Gothic architecture, Segovia has one of the longest and best preserved Roman aqueducts in all of Europe.
IES Abroad field trip destinations, activities, and lengths of stay may vary according to term and availability.
Daily Life
Part of making you feel at home in Madrid is doing our best to help you feel safe and cared for. Whether it is an orientation program that makes you feel prepared, housing that is well-located and comfortable, or the field trips that take you places off the beaten path—we’re all about our student services.
Orientation
Our Comprehensive Orientation & Re-Entry Experience (CORE™) begins at home with our virtual orientation to help you prepare for your IES Abroad experience. Our orientation introduces you to the IES Abroad Madrid staff, your fellow students, and the city of Madrid. Orientation continues throughout the semester with activities focusing on academic and cultural adjustment. Detailed information about housing, public transportation, culture, health and safety, and other important topics are also covered.
During your in-person orientation, IES Abroad organizes guided visits around Madrid with Spanish university students, as well as a day trip to Segovia. There is also a range of cultural events, such as intercambios, cooking classes, a flamenco workshop, and sports available for you to participate in. Some of these activities include visits to high-tech companies throughout Madrid, where you will become familiar with the Spanish work culture.
Housing
We want to make sure that your greatest challenge is deciding which landmarks to see first or discovering the best café-not finding a place to live where you feel comfortable. We do our best to locate housing that is reflective of how the local students are living. Our goal is that when you leave Madrid, it will feel like home.
Homestays – Live in Spanish homes with señoras or families and eat breakfast and one additional meal per day (either lunch or dinner) with your hosts when the program is in session. In many cases, more than one IES Abroad student is placed in the same homestay.
Homestays with Kitchen Privileges – If you are interested in a homestay but prefer to purchase your food and prepare your meals, you may wish to consider this option. With this option, you receive a meal credit. A very limited number of these placements are available.
Apartments – Shared apartments located in residential areas in Madrid. Apartments are furnished and feature fully equipped kitchens. Utilities and WiFi access are included, as well as the support of a Spanish compañero. Space is limited, and meals are not included.
Colegios Mayores – Colegios Mayores are dorms located on the UCM campus and throughout the city. You will have a single room with a shared bath. This housing option includes 18-21 meals per week in student cafeterias. Colegios Mayores are ideal for outgoing students with a high level of Spanish language who want to integrate into local, more traditional student culture, participate in Colegio activities, and are willing to abide by the rules of the Colegio.
Extracurricular Activities & Cultural Events
Take advantage of the cultural events we organize in Madrid, such as:
- Visit the Palacio Real and other heritage sites in Madrid
- Lessons in Spanish cooking and flamenco workshop
- Tour local museums
- Activities with Spanish students such as "Intercambios", tapas, and more!
University Clubs & Events
There are many opportunities for you to participate in the life of the city alongside local Spanish students at the Universidad Carlos III de Madrid (UC3M). We encourage you to take advantage of the any extra-curricular activities open to you at UC3M.
Volunteer Abroad
When you volunteer in Madrid, you have the chance to make a difference in the local community while meeting new people and gaining a new perspective on the world. If you are passionate about volunteering abroad, just let the on-site staff know at the beginning of your term. Past volunteer opportunities in Madrid include:
- Collecting food for the underprivileged
- Helping chronically sick children
- Working with the elderly
Get to Know Your New City
Visit La Tabacalera
Catch a free concert or art show at La Tabacalera, an old tobacco factory turned funky cultural center.
Take a Walk in the Park
Spend a lazy Sunday afternoon walking down la Gran Via and la Calle, then picnic and people watch in Parque del Retiro.
See La Plaza Mayor
Witness the breathtaking architecture and history found in la Plaza Mayor—Madrid’s central square. A must-have photo!
Enjoy Fresh Foods
Stop by the farmers' market in Casa de Campo the first Saturday of every month to taste the best local products.
Explore Must-See Museums
Include Museo del Prado, Museo Thyseen-Bornemisza, and Centro de Arte Reina Sofía on your to-do list while in Madrid. You don’t want to miss some of the top art museums in the world!
Program Cost
Consider these prices as a starting point. We encourage you to contact your study abroad office to determine the actual cost to you when factoring in financial aid, scholarships, your home school policies, and other factors.
| Term | Tuition | Housing | Insurance | Total |
|---|---|---|---|---|
| Fall 2021 | $15,180 | $3,960 | $230 |
$19,370 |
Scholarships & Aid
Use our budget worksheet to calculate your costs
$6+ Million in Scholarships & Aid
Our Center
The IES Abroad Madrid Center is located in the heart of Universidad Complutense’s main campus, inside the Colegio Mayor Nuestra Señora de Guadalupe residence hall. It’s in easy walking distance of two museums—the Museo de América and the Museo del Traje.
Our Center is your connection point for all things IES Abroad.
- Take your IES Abroad courses in the Center’s classrooms
- Meet with staff in their offices
- Study in the student lounge
- Have lunch in the cafeteria
- Relax with the friends in the garden
- Burn some steam off in the small gym
Other features include WiFi, printer access, and a library.
Our Staff
Elvira Munoz, Ph.D.
Center Director
Dr. Elvira Muñoz has been the IES Abroad Madrid Center Director since 2005. She served a two-year appointment as Associate Director for the Education Abroad program at the University of California Madrid. Her association with the University of California began at UCLA, where she was a Lecturer and Associate Undergraduate Vice Chair of the Mathematics Department, 2000–2002, and visiting Assistant Professor, 1995–2000. Dr. Muñoz received two Distinguished Teaching awards during her career at UCLA. She also has taught mathematics at State University of New York at Stony Brook, Universidad Autónoma de Madrid, Universidad Carlos III de Madrid, and Universidad Complutense de Madrid. She holds a Ph.D. and M.A. in Mathematics from Université Paris XI, and a B.S. in Mathematics from Universidad de Salamanca. Her considerable experience abroad also includes work and study in Germany, Sweden, and Brazil.
IES Abroad Madrid Staff
María José Cacho
Assistant Administration and Student Services
Marta Camacho
Academic Advisor
Yolanda Charlán
Student Affairs Coordinator
Angel López
Student Affairs Coordinator
Gemma Muñoz Garcia
Senior Academic and Internship Coordinator
Yolanda Real
Assistant Director of Administration
Health & Safety
With 70 years of experience, we are proud to set the standard for health and safety in study abroad. Our Chicago-based and on-site staff are all highly trained and experienced in the matters of health, safety, and crisis management. We are here for you from predeparture to your return, and are ready to support you—no matter what time zone you’re in.
In response to COVID-19, enhanced safety guidelines will be implemented this year—such as social distancing and personal protective equipment (PPE) in on-site classes, in-country field trips and travel only, and apartment or residence hall housing (no homestays) that ensures proper space should self-quarantining be necessary.
How We Support You
We plan for "what if" so that you don't have to. From international health insurance included in the cost of your program to highly-trained local staff who can connect you to English-speaking healthcare providers, we are working around the clock to ensure your health and safety while abroad.
Learn more about the support you can expect to receive on our programs, including:
- International health insurance through CISI in the case you need to see a doctor or mental health professional
- 24/7 emergency support whether you encounter an issue while traveling or in your host city
- Location-specific health and safety information presented at orienation by on-site staff
- TripTracker system allowing you to share independent travel plans in case you need to be contacted swiftly in a crisis
- A mandatory cell phone policy so that you can be contacted locally and receive any emergency updates via call or text
- Crisis drills so that you feel prepared to respond to an emergency should one arise
- And more!
Health & Safety Resources
You safety begins with being accurately informed from the moment you're considering study abroad through to the day you return home.
Take note of ways you can maintain your health and stay safe abroad while reviewing our resources, including:
- IES Abroad MAP for Student Health, Safety & Crisis Management
- Study Abroad Safety Tips for Traveling
- IES Abroad Student Blogs on Safety and Mental Health
- And more!
Fall 2021
We all know that Fall 2021 is going to look a bit different from other study abroad terms, but that doesn’t mean it still won’t be the most incredible semester of your life!
We’re working hard to keep you safe and well, so you can focus on what you came to do—live and learn abroad (and have some fun along the way!). Below is a summary of the main tweaks to the program this semester, which may be updated as more details become known. You can learn even more about our measures for all programs on our Fall 2021 Health & Safety page.
Academics & Partner Universities
Know that you’ll be learning from the best of the best this fall. On our Business, Economics & Social Sciences program, you’ll have the option to take courses taught by world-class IES Abroad faculty at our Center or Universidad Carlos III de Madrid (UC3M).
IES Abroad Courses Available in Fall 2021:
- AH249 Spanish Art and Architecture
- AH/RL350 The Iberian Peninsula: Cultures & Religions through the Arts
- CU/HS250 Spain and the Americas
- DT332 Applied Data Science
- FI/IB355 International Finance Management (ONLINE)
- IB/ST350 Econometrics for Business
- IN395 Internship Seminar: Leading Across Cultures
- MG/PS322 Organizational Behavior: Psychological Approaches in a European Perspective
- PS343 Psychology of Health and Well-Being (ONLINE)
- SP101 Spanish Language in Context Novice Abroad I
- SP201 Spanish Language in Context: Novice Abroad III
- SP301 Spanish Language in Context: Emerging Independent Abroad I
- SP303 Spanish Language in Context: Emerging Independent Abroad III
- SP351 Spanish Language in Context: Independent Abroad I
- SP352 Spanish Language in Context: Independent Abroad II
- SP402 Spanish Language in Context: Emerging Competent Abroad II
Explore all the course options from UC3M and find IES Abroad course syllabi on the “Academics” tab.
Health & Safety Protocols
We’re making sure that your learning experience is a safe one so you can focus on the topic at hand. So, to enhance effective social/physical distancing, IES Abroad is taking proactive measures in the classroom, including:
- limiting class enrollment sizes
- adjusting space layout and room choice
- and promoting student/faculty use of personal protective equipment (PPE).
Learn more about our health and safety measures for Fall 2021.
Housing
You’ll stay in a clean, comfortable residence hall or apartment (space is limited in apartments) where we’ve taken the utmost safety measures, including single occupancy rooms. At this time, homestays will not be offered through IES Abroad programs this fall. Learn more about the overarching housing policies for Fall 2021.
Field Trips
Across all IES Abroad programs, field trips will stay local and regional this fall. Your fields trips will all take place in Spain, which means you’ll get fully immersed in the culture(s) you came for! Possible trips include:
- Ávila - Ávila has the most emblematic and spectacular city walls in Spain, built during the Medieval ages, they surround the old town that is full of monasteries, palaces and churches.
- Aranjuez - The palace of this city close to Madrid was the place chosen by the kings of Spain to spend the spring months due to the good weather and the vast and stunning gardens. Aranjuez was declared a World Heritage Site by UNESCO in 2001.
- Alcalá De Henares - The birthplace of the illustrious Don Quixote author Miguel de Cervantes, Alcalá de Henares is home to one of the most prestigious universities in Spain. It has been declared a UNESCO World Heritage Site for its monuments, historic churches, convents, and university buildings.
- El Escorial - Visit this royal site that was once the residence of the King of Spain, as well as a monastery for the Roman Catholic Church. The palace is also the burial site for nearly every king and queen since the 16th century.
- Segovia - Famous for its Romanesque and Gothic architecture, Segovia has one of the longest and best preserved Roman aqueducts in all of Europe.
- Toledo - Known as the “city of three cultures”— Christian, Muslim, and Jewish—Toledo preserves an artistic and cultural legacy that makes the city an openair museum.
- Córdoba - A UNESCO World Heritage Site, Córdoba is a living legacy of different cultures that settled here throughout its history. The most important symbol of the city is the Mosque-Cathedral; it is one of the most beautiful examples of Muslim art in Spain.
Internships
Our optional, part-time internships have always been designed to give you experience in what it's really like to work in Madrid. For Fall 2021, part-time internships will be offered online. That said, we’re working hard to be able to offer in-person opportunities that align with our health and safety standards. You can count on having a part-time internship this fall—definitely virtually and potentially in-person—to help you gain a professional edge this semester.
Our Center
Our Center in Madrid is your go-to spot for classes, student services, and information. Serving as your campus away from campus, you can feel safe going to class or checking in with an IES Abroad staff member because, at a minimum, IES Abroad Centers will undergo daily cleaning and disinfection by professional cleaning services.
Cost
Cost details for Fall 2021 can be found on the Cost tab. Be sure to click through the linked total to view a thorough cost breakdown PDF. Consider those prices as a starting point. We encourage you to contact your study abroad office to determine the actual cost to you when factoring in financial aid, scholarships, your home school policies, and other factors.
Go Ahead & Get Started…With a Refund Policy that has your Back
As a mission-driven, not-for-profit, we are guided by two priorities as we navigate Fall 2021: to leave the door open for your opportunity to study abroad, and to strive to keep you safe and healthy. So, what’s our advice? Give yourself the chance to have an incredible adventure—even if it’s a bit different than planned!—and know we’re right alongside you as the details unfold.
And thanks to our Fall 2021 Refund Policy, there’s no commitment just yet. What’s more, once you start an application, you’ll be in the loop and hear directly from us if any changes are made to your program.
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