The Center for Economic Studies (CES) of the K.U.Leuven (Belgium) has recently been awarded the status of Marie Curie Training Site, in the field of international monetary economics. Therefore, the CES has a number of vacancies for fellows who are pursuing a PhD in economics, with a specialization in international economics for a period of minimum 3 months and maximum 1 year. The training that the CES offers is focused on the study of monetary integration and exchange rate economics. In addition, the CES organizes specialized seminars and courses in the area of international economics on a regular basis. The fellow will receive a monthly allowance according to the standard community contribution. The CES is an equal opportunity employer. Applications from women are warmly welcomed. Interested applicants should send their CV and 2 reference letters to : Prof. P. De Grauwe, K.U.Leuven, Center for Economic Studies, Naamsestraat 69, 3000 Leuven, Belgium.