A bachelor’s degree in economics or a related discipline (business, statistics, mathematics, political science, international relations, etc.) with a regular period of study of at least six semesters (180 ECTS credit points). Currently, we require that applicants provide previous coursework in their undergraduate degrees of at least 60 ECTS in economics, 15 ECTS in statistics/econometrics and mathematics, and 40 ECTS in management/business administration.
Good command of the English language, as the program is taught entirely in English. Applicants need to have English language skills according to the Common European Framework of Reference for Languages Level B2. The following proof of English proficiency will be accepted:
- TOEFL* (Test of English as a Foreign Language):Minimum total score of 87 points (internet-based)
- IELTS** (International English Language Testing System): Minimum Overall band score 6.5
- Cambridge First Certificate in English (FCE) and Cambridge Certificate in Advanced English (CAE)***
- Proof of a bachelor's degree with English being the medium of instruction (Evidence of this will either need to be included on a transcript or letter from your university, both need to be officially signed and sealed.)
- Certified copy of the German “Abitur”-certificate
- Native speakers from Australia, Canada, Great Britain, New Zealand, and the United States are exempt
English proficiency tests other than the ones listed above, and test scores older than two years from the date of application are not accepted.
The “Master of Science in Economics” is a two-year (four-semester) program with coursework in the first three semesters and a master’s thesis in the fourth semester. In order to graduate students need to complete a total of 120 ECTS credit points (European Credit Transfer System). It is therefore recommended that students complete 30 ECTS per semester, in order to graduate within the regular study period of four semesters.
The program has a modular structure. A module is made up of either one course or several individual courses which cover similar or complementary topics and are coordinated within the curriculum. Each module is worth a certain number of credits. The number of credits reflects the amount of time you need to spend on completing the module (class times, preparing and revising materials, studying for the exam, completing all assessments, etc.). Each credit point is roughly equivalent to a workload of 30 hours. We distinguish between two types of modules:
- Core Modules: “Macroeconomic Theory”, “Microeconomic Theory” and “Econometrics” (10 ECTS workload each). We highly recommend completing the core modules in the first year of study. While “Macroeconomic Theory” and “Microeconomic Theory” are offered in the winter semester, “Econometrics” is offered in the summer semester. Therefore, the order in which you complete the core modules depends on the semester you join the program (summer or winter).
- Specialized Modules: Every year there are about 20 different specialized economics modules offered in the fields of Applied and Theoretical Microeconomics, Empirical Economics, Energy Economics, International and Development Economics, Macroeconomics and Finance, Economic Policy etc. The class size in specialized modules is usually small (10-30 students).