This English-language MSc is offered in cooperation with the Faculty of Economics and Business of the University of Belgrade and is aimed at high-achieving students who want rigorous training in both theoretical and empirical economics. The curriculum builds on a prior economics- or mathematics-oriented degree and emphasizes core tools—microeconomics, macroeconomics and econometrics—together with advanced quantitative methods. Students learn to design and evaluate applied economic solutions under global and institutional uncertainty, and to translate those solutions into policy and regulatory recommendations.
The programme combines comparative, international and institutional perspectives with in-depth area studies of emerging and post-socialist economies. Its geographic focus includes Eastern Europe broadly defined—Russia and the post‑Soviet states, as well as East‑Central and South‑Eastern Europe—while also addressing socio-economic development and policy challenges in these regions. Coursework and group projects encourage interdisciplinary analysis, critical engagement with historical and contemporary economic and political problems, and continual reflection on gender and diversity issues in research and teamwork. The programme also introduces and applies the principles of academic work and good academic practice.
Graduates gain the theoretical foundation and hands-on experience to work as economic analysts or consultants for public and private sector organisations, international organisations, NGOs and research institutions focused on emerging markets. The Master’s also prepares students for doctoral study in economics or the social sciences, subject to the respective doctoral admission requirements. The programme’s detailed module content, assessment types, credit allocations and required study hours are specified in the study and examination regulations.
Admission & programme facts (concise)
This two-year master’s is delivered across two institutions: the first year is taken at the University of Belgrade (60 CP) and the second year at Freie Universität Berlin (60 CP). The Belgrade year builds a broad quantitative and policy-oriented foundation in economics, while the Berlin year focuses on regional specialisation, deeper thematic courses and a research master’s thesis. Altogether the programme combines rigorous training in mathematics, econometrics and data methods with applied policy analysis and regional comparative perspectives.
Key foundational modules in year one give you strong analytical tools: mathematics and modelling, intermediate micro- and macroeconomics, public finance, intermediate and micro-econometrics, policy analysis and impact evaluation, machine learning and data mining, and applied macro-finance. You also choose between a course on growth theory and economic policy or a topics module, and complete a professional development module (internship plus language course) to gain practical experience and improve employability.
In Berlin you specialise through courses on the economies of Russia, Eastern Europe and Eurasia, comparative economics, research and writing, and selected topical seminars in economics and East European studies (total 45 CP), then complete a 15 CP master’s thesis that demonstrates your ability to carry out independent, original research. Graduates emerge with strong quantitative, empirical and region-specific expertise and are awarded the degree Master of Science in Economic Systems.
Core requirements (credit points, CP)
Year 1 — University of Belgrade (total 60 CP)
Year 2 — Freie Universität Berlin (total 60 CP)
Learning outcomes (high level)
This program requires a completed, professionally qualifying Bachelor's degree from a German university or an equivalent degree from abroad. Applicants whose first degree is not in economics or statistics can still qualify if they have built up sufficient prior coursework in relevant quantitative and economic subjects. You must also demonstrate English language ability; detailed acceptable tests and minimum scores are specified by the program. German language ability is not required for admission.
International applicants should be ready to document their degree and prior coursework so the admissions team can verify equivalence to the stated requirements (for example, by providing transcripts and course descriptions).
Admission requirements (summary)
Winter Semester (International)
31 May 2026
Winter Semester (EU/EEA)
31 May 2026
Graduates are prepared for roles as economic analysts and consultants in the public and private sectors, specialists for emerging markets in international organisations, NGOs, and research institutions, and advisors working on economic policy and impact evaluation in the region. The combination of quantitative methods and regional expertise also makes graduates competitive for positions requiring data‑driven policy analysis and economic consulting.
The programme also provides the academic foundation required for those who wish to pursue doctoral studies in economics or the social sciences, subject to the specific admission requirements of PhD programmes.