Economics

Overview

In Germany a clear distinction is made between economics (Volkswirtschaftslehre) and business administration (Betriebswirtschaftslehre): economics looks at how societies and individuals allocate scarce resources and designs policies at the macro and societal level, whereas business administration focuses on managing the operations and people within individual organizations. This Master of Science provides a broad, research-oriented grounding in economics while allowing students to tailor their studies through focused elective pathways. Core advanced modules cover microeconomics, macroeconomics, public finance, international economic policy, statistics/econometrics, and environmental economics.

Empirical Economics specialization

The Empirical Economics track emphasizes the growing role of data-driven methods in modern economic research. Teaching is closely tied to the Institute of Empirical Economic Research — composed of the chairs of macroeconomics, international economic policy, and statistics/econometrics — and combines a solid methodological foundation in statistics and econometrics with applied, policy-relevant work. A key feature is hands-on empirical training: students undertake independent empirical projects and perform their own statistical inference, for example as part of a larger project seminar.

Sustainability, Behaviour and Environmental Policy specialization

This pathway explores the links between environmental challenges, human behaviour, and economic policy. It uniquely integrates environmental economics with insights from behavioural economics — which moves beyond the traditional “homo economicus” model to account for bounded rationality, values, social norms and tools like nudges — while also covering economic incentive instruments such as CO2 pricing and the relationships among economic growth, emissions and environmental quality. Students develop both policy-relevant skills and a firm grounding in economic theory to contribute to transitions toward sustainability in public policy, research, or other professional settings.

Key facts and application notes

• Degree: Master of Science (Economics)
• Language of instruction: English
• Typical advanced module areas: microeconomics, macroeconomics, public finance, international economic policy, statistics/econometrics, environmental economics
• Specialisations available: Empirical Economics; Sustainability, Behaviour and Environmental Policy
• Practical component: independent empirical research and project seminar (Empirical track)
• For precise entry requirements, application procedures and deadlines, consult the university’s official admissions information.

Program structure and duration

The master’s degree runs for four semesters (two years) and comprises 120 credit points (CP). These are allocated as 10 CP of compulsory coursework, 90 CP of electives, and a 20 CP research-based Master’s thesis. The programme offers two named specialisations students may pursue: Empirical Economics, and Sustainability, Behaviour and Environmental Policy.

Key modules and learning outcomes

The single compulsory module, Advanced Methods of Business and Economics (10 CP), provides advanced training in econometric techniques and microeconomic analysis of firm and market problems. Students learn to apply these quantitative tools to real-world examples, equipping them to design, estimate and interpret empirical models and to perform rigorous economic analysis. The 20 CP Master’s thesis tests students’ ability to carry out independent, methodologically sound research and to communicate findings clearly.

Electives, specialisation and flexibility

The elective portion (90 CP) is designed for depth and customization. At least 60 CP must come from economics and quantitative-methods modules, and at least 10 CP must be taken in business administration. The remaining 20 CP can be chosen from economics, business administration, or other prescribed modules, allowing students to tailor their study plan to their chosen specialisation or career goals. This flexibility helps international students build either technical, research-oriented profiles (e.g., empirical methods) or applied, policy-focused skill sets (e.g., sustainability and behavioural policy).

Requirements (concise)

• Total programme length: 4 semesters (120 CP)
• Compulsory: Advanced Methods of Business and Economics — 10 CP
• Electives: 90 CP total
  • Minimum 60 CP in economics and quantitative methods
  • Minimum 10 CP in business administration
  • Remaining 20 CP selectable from economics, business administration, or other prescribed modules
• Master’s thesis: 20 CP (independent research)

Graduates leave the programme with advanced quantitative and empirical skills that are in demand across a range of sectors. Typical career paths include research and analysis roles in public policy institutions, environmental agencies, think tanks, and international organisations, as well as analytical and consulting positions in the private sector where data-driven economic analysis is required.

The programme also provides a solid foundation for those wishing to pursue doctoral study (PhD) in economics or related fields, particularly for applicants interested in empirical research or environmental and behavioural economic topics.