The scholarships for Doctorate in Economics from the Bank of the Republic of Colombia offer five places to sponsor doctoral studies in Economics abroad, up to a maximum of the fourth year of the program.
Professionals from different careers with undergraduate or postgraduate degrees related to economic sciences (example: Economics, Business Administration, Industrial Engineering, Public Accounting, Finance or Mathematics, among others) can apply. It is not required to have a master’s degree.
This sponsorship is offered so that as of the second semester of 2022 the applicant can: 3. The beneficiary selected for 2022, who stands out for his or her outstanding academic merits, may be awarded the honorary denomination “Lauchlin Currie”, which does not represent additional economic benefits.
1. Start a doctorate in Economics abroad
2. Continue a doctorate in Economics abroad
As a contribution so that the country has an increasingly numerous and select group of professors, researchers, and public officials in the field of economics and economic law, the Banco de la República supports doctoral studies in Economics, and a doctorate or master’s degree in economic law at foreign universities of recognized academic excellence.
The program is aimed at Colombian professionals who are going to work in public entities, universities, or private non-profit entities, in the latter case dedicated to teaching or economic research.
These postgraduate degrees are granted to start or finish doctorate or master’s programs in Economic Law, and a doctorate in Economics, in accordance with the requirements set forth in these regulations.
The six (5) quotas that make up this program, whose characteristics are explained below, are:
1. Five (4) for a doctorate in Economics, the first of which, called “Lauchlin Currie”, may be awarded to the best new beneficiary ( a) of each year, if their academic merits are outstanding.
2. One (1) for lawyers who wish to pursue doctoral studies (preferably) or a master’s degree in Economic Law. If the academic merits of the beneficiary are sufficient, this quota will be called “Enrique Low Murtra”.
The honorary designations of the programs only constitute recognition of the exceptional qualities of the applicants but do not represent additional economic benefits to those provided for in these Regulations.
DURATION OF THE PROGRAM
The studies are granted for up to a period of two or four years depending on the program to which the candidate is applying (without taking into account the leveling courses), at the end of which it is considered that he will obtain the corresponding degree.
The Department of Incorporation, Development, and Culture of the Banco de la República may authorize the extension of the duration of the program annually for up to two (2) years, provided that it is demonstrated to the full satisfaction of the Department that in that time the beneficiary will be able to achieve the candidacy for a doctorate or complete their doctoral thesis, whose project should have been approved by the university.
At the end of each academic year, the beneficiary must send the Bank a document where it can be verified that it was approved for the following period.
The beneficiary is obliged to return to the country within the month following the date of completion of the study program certified by the university. The Department of Incorporation, Development, and Culture of the Banco de la República may authorize an extension of up to two (2) years the time to return to the country, solely for the purpose of completing the doctoral thesis. During this time the beneficiaries will not continue to receive financial aid.
When a medical incapacity occurs during the completion of the authorized academic program, the Department of Incorporation, Development, and Culture of Banco de la República may approve the suspension of studies for the period in which the university accepts.
In order to know the approved period of suspension, the student will submit to the Bank the application communication to the university and the certification issued by it.
During the suspension of studies accepted by the university and approved by the Department of Incorporation, Development, and Culture of Banco de la República, the economic coverage will continue to be paid to the beneficiaries who continue abroad, with the exception of the cost of enrollment.
If the tuition fee has been transferred and paid to the university, this must be applied to the period in which the beneficiary resumes studies. In any case, the economic benefits will not be extended for longer than the period initially authorized to advance the studies (2 or 4 years).
In the event that the beneficiary returns to the country, the transfer of economic coverage will be suspended, and once he resumes his studies, the aid will be transferred for up to the time initially authorized.
The quota granted by the Banco de la República (Central Bank of Colombia) will cover the following items:
1. Cost of education (includes tuition, registration fees, registration, and degree). For the selected beneficiaries, the tuition cost of one month of preliminary studies of the language of the country where the studies or leveling courses are carried out in an institution of recognized prestige abroad will be defrayed, without in any case said aid exceeding the sum of US3,000.
In cases of academic loss of a subject for the first time, the value will be charged to the total commitment; in case the loss is for the second time, the value must be assumed by the student.
2. Round-trip air tickets in economy class, including the value of departure taxes and the costs associated with the issuance of a visa for the beneficiary and his family (spouse or permanent partner and up to two minor children).
If the beneficiary travels to study as a single person and gets married during the time of the program, the one-way airfare of their spouse or permanent partner will not be recognized, but the return ticket will be.
3. Medical and dental insurance, which covers external consultation, hospitalization, and surgery, if necessary, for the student and her family (spouse or permanent partner and up to two minor children).
ADDITIONALLY, THE FOLLOWING ITEMS WILL BE COVERED:
a. Support of the beneficiary
b. Support spouse or permanent partner (when the beneficiary travels alone in the company of his/her child(ren) and does not have a spouse or permanent partner, he/she will be entitled to receive the economic benefits intended for the latter)
c. Support for each child (up to two minor children)
d. Installation expenses
e. Other travel expenses (total round trip)
f. Annual allowance for books
g. Thesis expenses, one time only
1. Payment in currencies other than those mentioned will be equivalent in American dollars (US)
2. If there is money delivered to the beneficiary and not caused, it will be compensated with the economic resources to be delivered during the program.
3. If there is an amount in favor of the Bank or the beneficiary once the program is completed, it will be returned no later than three months following the exchange rate in force on the day the economic event takes place.
May 31, 2022: deadline for sending the digitized admission letter
June 22, 2022: publication of results on the Bank’s website