QEM  The QEM (Models and Methods of Quantitative Economics), also known as "Erasmus Mundus QEM", is an Erasmus Mundus post-graduate master's degree in economics. The program combines "core economic theory with related quantitative disciplines such as Probability, Statistics, Econometrics, Finance, Actuarial Science, Mathematical Modelling, Computation and Simulation, Experimental Design, and Political Science." It is offered by a consortium of four universities: Université Paris 1 Panthéon-Sorbonne (co-ordinating institution), Universitat Autònoma de Barcelona, Universität Bielefeld, and the Università Ca' Foscari Venezia with a network of Associated Partners consisting of international academic institutions as well as public and private companies, as aside. Related degrees include the EMLE-European Master in Law & Economics and the EMIN - Erasmus Mundus Joint Master in Economics and Management of Network Industries. QEM students are required to study at two of the four participating universities of the Consortium. This academic mobility enables students to benefit from the diversity in strengths of each university on a wide range of issues, and to meet and work with professionals from various backgrounds. In particular, it provides the students the opportunity to learn and integrate with different European cultures. Upon successfully completing the programme, students are awarded a QEM Joint Degree from the partners of the consortium. The QEM consortium provides career assistance to the students, including help with internships and job placement for graduates. The language of instruction is English and the partner universities also provide European language courses for graduates. The Erasmus Mundus QEM was the first European Joint Master degree in Economics; it was approved by the European Union in 2006. The QEM is organised and managed by an executive committee, joint graduate committee, and an advisory board. The executive committee meets regularly to define QEM activities and improve on the intra-consortium mobility conditions suggested by EACEA. These QEM activities are then managed by the joint graduate committee. The advisory board is made up of professional experts in the field of economics, including Nobel Prize winners Edward C. Prescott, James Mirrlees and Reinhard Selten.