Monaco has only one higher education institution – the International University of Monaco, where students can opt for specialisations in Finance, Luxury, Marketing, Sport, Business Management, and International Management. Founded in 1986, the university currently has 550 students (350 undergraduates and 250 postgraduates). Studying in the renowned Monegasque institution offers a prestigious double degree as well as the possibility to benefit from the countless local and international partnerships.
Starting in 2017, master students in International Management, in Luxury Management, and Sport Business Management have the possibility to obtain a double degree. The International University of Monaco signed an agreement with the European Business School (EBS) in Paris. The specialisations offered by the partner organisation are Digital Business and E-Commerce, or Entrepreneurship, and require Monegasque students to complete a semester of study that ends with both a thesis and a short internship.
2017 brought new partnerships for the International University of Monaco. First, IUM teamed up with MonacoTech Incubator – Accelerator to support entrepreneurship throughout the Principality. The joint effort is focused on startups with a higher probability of remaining in Monaco after the initial launch periods ends.
Another partnership signed in 2017 was the one with the Automobile Club de Monaco, the prestigious organisation behind the well-known Formula 1 Grand-Prix. The deal opened new opportunities for masters students in Sport Business Management, which can now back their theoretical knowledge with real-life work experience in organising premium sports events. The project started in 2016 but the initial group of students worked for Automobile Club de Monaco unofficially. They labelled their time with ACM as amazing and at the same time challenging.
The International University of Monaco has a number of other prestigious international memberships that offer its students premium career opportunities. IUC is a member of AACSB (Association to Advance Collegiate Schools of Business), EFMD (European Foundation for Management Development), ECIS (European Council of International Schools), PRME (Principles for Responsible Management Education), and EDBAC (Executive DBA Council).
Students of the International University of Monaco can access a vast network of higher education institutions from 13 countries with which IUC has bilateral exchange agreements.
The International University of Monaco is a private institution, and the high annual fees reflect its privileged position. All students are entitled to receive scholarships to help fund their studies. Financial aid ranges from €1,000 to €5,000 and is exclusively based on merit. Remarkable academic achievements, extraordinary leadership potential, and important contributions to the mission of the University are all weighted in when the funds are awarded. The university does not take into account the financial situation of its students. IUM merit-based scholarships are available for both undergraduates and graduates.
The budget for financial aid was increased for 2017, signalling the Principality’s firm commitment to supporting quality in education.