Look for an elegant, pale historic building topped with decorative windows and intricate stonework-this is the Schebek Palace in front of you, home to CERGE-EI.
Welcome to CERGE-EI-where the magic of modern economics meets the grandeur of Prague’s golden past! Imagine, just for a second, the faded shuffle of determined footsteps echoing through these halls, a kind of quiet symphony of shoes and ambition. It’s a fitting soundtrack. Schebek Palace, the building before you, wasn’t always the nest of economic masterminds it is today. No, this building just steps away from the Old Town riches, has seen generations come and go, and since 1991, it’s where some of Central and Eastern Europe’s sharpest minds gather to crack the toughest economic puzzles.
In the early 1990s, Prague was humming with the hopes of change, and the air was electric with possibility. A group of visionary thinkers, including Jan Švejnar and Jozef Zieleniec, looked at a continent dusting itself off after the tumble of communism and thought, “Let’s train a new kind of economist!” Mind you, these students weren’t just after any dry, old economics degree. No, CERGE-EI is a brilliant blend-a partnership between Charles University, the Czech Academy of Sciences, and, believe it or not, it runs its academic programs under a permanent charter from New York State. Imagine strolling through Prague, earning an American-style PhD without ever leaving the shadow of Gothic spires!
But wait, don’t get lost in the paperwork just yet. Pop your head around, and you’ll feel the energy of about 120 students from over 30 countries. You’d likely hear a delightfully confusing mix of languages in the hallways, from Czech to Russian to English-someone is always debating, perhaps about microeconomics or who makes the strongest coffee. At CERGE-EI, the students don’t just read dusty books; they dive into real problems, filling the marble corridors with laughter and sometimes the sound of heated argument over labor economics.
The powerhouse faculty-20 permanent members, with dazzling PhDs earned from the US and Western Europe-are as international as their students. Some have accents as thick as molasses, others pepper their lectures with jokes that only economists laugh at, but don’t worry, there’s often a real laugh echoing somewhere. And if you think this castle of knowledge only belongs to theorists, think again! Students here can hop to partner universities, from Cambridge in the UK to Bordeaux in France and even the University of Pennsylvania, through exchange programs that guarantee their research travels as widely as their imaginations.
Academically, the air is heavy with high expectations. The PhD program follows an American model-first there’s a crash course year in micro, macro, and econometrics (with plenty of caffeine on tap). Complete two intense years? Congratulations, you leave with an MA degree, perhaps with a few battle scars from tough dissertations or an epic econometrics exam! For those brave enough to continue, a full PhD stands before them, usually sealed by writing three major research papers. And just so students don’t have to live off day-old bread rolls, many receive tuition waivers or stipends, working as research or teaching assistants.
Let’s not forget CERGE-EI’s claim to fame-it’s consistently ranked as one of Europe’s top places to study economics, and its faculty and students have left their mark on the world. There’s research into everything from how economies bounce back after crises, to why people buy what they do in the market. They run regular seminars, host global conferences, and house the largest economics library in Central and Eastern Europe. Picture the gentle click of books being reshelved and the joyful groan of opening a well-loved tome.
But all work and no play makes Jack a dull economist! Since 2009, students battle for squash supremacy every year. And come springtime, there’s a burst of laughter and wild swings at the annual Prague Charity Softball tournament.
And, not just about numbers and graphs, CERGE-EI has an IDEA-literally! The Institute for Democracy and Economic Analysis, founded by CERGE-EI, is a think tank full of bright minds working to make public policy better for everyone.
So, as you stand here among the echoes of history, listen carefully: the discussions, research, and playful banter swirling around you are all part of a grand experiment to push human understanding forward. Maybe the next Nobel-winning economist is walking just behind you-or maybe, if you’re brave enough to peek inside, you’ll catch the spark yourself.
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