Understanding economic growth, international income disparities and inequality

The Master in Economics at the University of Cologne offers a research-oriented study programme with courses from a wide range of economic areas. As a student, you are largely free to choose the subjects you intend to concentrate on, and you can opt to focus on different areas within and between fields. The main topics are:

• Market Design and Behavior,
• Markets and Economic Policy,
• Empirical Methods and Data Analysis,
• Energy and Climate Change

This programme provides you with:

• state of the art tools for the quantitative and qualitative analysis of economic problems in specific markets, national economies, and the global economy, such as monetary policy, climate change, or development.
• a wide range of possibilities for specialisation and maximum flexibility in your choice of courses.
• ample opportunities to complement your expertise in economics by choosing from additional courses in management, political science and sociology.

Key Facts

• Standard period of study: 4 semesters, full-time
• Scope: 120 ECTS
• Start: Fall term
• Degree title: Master of Science (M.Sc.)
• Language: English
• Fees: Only Social fee (approx. 280€ per semester including ticket for public transport, see here for more information)

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The Path to your Personal Expertise

The master's programe carries 120 ECTS credits and compromises a Core and Advanced Section, a Specialisation Section, a Supplementary Section and a Master Thesis.

The Core Section of the programme contains 24 credit points (four courses) and will introduce you to the central methods and insights of the main areas of modern economics: econometrics and statistics, macroeconomics and microeconomics.

In the Specialisation Section you choose courses from the main areas that reflect your substantive orientation in which you want to proceed with your studies.

In the specialisation on Empirical Methods and Data Analysis your focus is on the tools of empirical analysis. In Markets and Economic Policy your focus is largely on issues of public policy and the functioning of markets from a macroeconomic perspective. In Market Design and Behavior you focus on the microeconomic working of specific markets and how they should be regulated and the behavior of individuals in them.

The Supplementary Section in Economics offers both specialisation and generalisation. A particular concentration on energy markets and climate economics is possible in our specialised field Energy and Climate Change which builds on and deepens methods and insights from various areas of the specialisation section. You may also acquire particular skills of our interest by choosing further courses from any of the fields in the specialization section. You can also complement and deepen your studies with courses from our Master in Economic Research programme.

The Supplementary Section in Management and Social Science allows you venture into other fields within the Faculty, for example, complementing the study of labour markets with courses in Personnel Economics, deepening your understanding of public policy with expertise from political science, or of human behavior in Sociology.

With the master’s thesis, you show your ability to apply the skills you have acquired throughout the programme and conduct your very own research with an aim to contribute to scientific knowledge.

Apply Expertise

As a student of economics in Cologne, you benefit from the broad expertise of an internationally renowned faculty engaged in applied and theoretical research. Our teaching mirrors this expertise, and it is grounded in the newest research and insights. Our courses and seminars aim to bring you to the frontier of current research and policy discussions

International

The majority of the M.Sc. Economics programme is internationally oriented in both content and style. It provides an international study environment in Germany, with a high proportion of international students from diverse backgrounds enrolling into the programme.The programme can be completed entirely in English.

Career opportunities

The M.Sc. in Economics builds on the knowledge gained in your bachelor studies, giving you advanced expertise in your chosen field. This up-to-date range of economic topics makes you a sought-after expert in the analysis and development of solutions to economic problems and challenges.

A diverse range of employment opportunities are available to graduates in economics related roles in public institutions, such as:

• Government Ministries
• Private Financial Institutions
• Government Agencies and Authorities (e.g. competition or regulatory authorities and central banks)
• European Institutions (e.g. the EU Commission)
• International Institutions (e.g. OECD, IMF or the World Bank)
• Consulting Firms and Think Tanks
• Firms and Institutions Analysing Large Data Sets

Admission information and requirements

Application process and deadline:

• Applicants with a German bachelor degree apply via the WiSo Faculty’s master application portal
• Applicants with a non-German bachelor degree apply via the WiSo Faculty’s master application portal and additionally via uni-assist
• Application deadline is June 15th

Requirements and selection procedure:

A Bachelor degree or equivalent in the respective field (worth at least 180 ECTS credits) and an overall grade point average of at least 2.7 (German grade). Applicants must meet the following requirements:

• At least 18 ECTS credits in Economics and
• at least 48 ECTS credits in further Economics, Business Administration and/or Social Sciences and
• at least 15 ECTS credits in Statistics and/or Mathematics (methodological expertise only, no user expertise)

OR

• At least 40 ECTS in Mathematics
• English language skills level B2 CEFR

The successful completion of an admission test (TM-WiSo/ GMAT/ GRE) is highly recommended.

The Admissions Board will communicate its decision by the end of July. Enrolment usually takes place in August.