M.Sc. Economics

The duration of the programme is 2 years (4 semesters). To complete the programne, 120 credit points (ECTS) are necessary. The awarded degree is Master of Science in Economics.

The intake is always in the winter term (starting in October).

The Master of Science in Economics teaches students the skills needed to thoroughly analyse economic issues and problems, understand and apply the relevant academic theory, and use the correct formal and empirical methods. This in turn will allow them to find creative approaches to problem solving and predict the political and social consequences of economic activity. Graduates will typically work in leading positions ibn banks, firms, research institutes, syndicates, public administration, or start an academic career.

• The programme comprises a basic area (48 credits) which provides a sound education in many relevant fields of economics as well as training in soft skills.
• In the specialisation area (48 credits) students acquire deeper knowledge in a particular field according to their interests.
• In the master's thesis (24 credits) students demonstrate their ability to apply their knowledge and skills to an economic research question within the field of their specialisation.

An extensive description of the curriculum you find in the handbookpdf, 579 kb · de.

The teaching language is English (except for very few elective courses in German).

Only the specialisation area "Regional Dynamics" requires German proficiency (DSH-2). So it is possible to complete this program without German. But we recommend to learn German which is partially credited for the curriculum.

We expect a sound pre-education in economics, mathematics, and statistics. We expect in particular a basic knowlege of microeconomics (e.g. Varian's textbook on Microeconomics or comparable), macroeconomics (e.g. Blanchard's textbook on Macroeconomics or comparable), basic algebra (including vectors and matrices), calculus (derivatives, integrals) and statistics (estimation, hypothesis tests). Furthermore, we expect some knowledge in further fields of economics (e.g. international trade, public finance, economic policy, industrial economics etc.). Please note that we are restrictive in counting courses as "economics" courses. Courses related to business administration, accounting, management, business finance etc. do not count, also courses with a more descriptive content, such as regional specifities of a certain econonmy, do not count. The education should also have a certain broadness, too strong  specialisation is unwarranted. In general, we apply the criteria in a strict manner because of the very high number of applicants.

In case that you hold already a master degree, we will usually acknowledge only the education from your Bachelor program. Relevant courses from your master program might eventually be credited for our program. But this requires that they are part of your pre-education to get the admission.

We cannot directly measure the quality of your education. Having several courses e.g. in microeconomics does not necessarily mean that the education in microeconomics is sound. If possible, please submit official syllabi of the courses which are relevant for admission. We offer a "Bridging Course Ecoomics" to fresh up the Bachelor knowledge in mathematics, microeconomics, and macroeconomics. In some cases this Bridging Course can be made obligatory for a conditional admission. A brief syllabus of this course you find herepdf, 81 kb · de.

Before you apply you should be sure that this programme fits your interests and is suitable for your future plans. Make also sure that your financial situation allows for a study of two years. Recall that the faculty does not provide grants.

The application platform Master Service Center may also ask for a motivation letter. Keep it short! Some hints you find herepdf, 17 kb · de.

Application requirements:

• University degree with a duration of at least 3 years and at least 180 ECTS.
• Final grade has to be 2,5 or better (German grading system). Applicants with a Bachelor degree must be within the 65% of the best in their year.
• Required pre-education (minimum): 6 ECTS in mathematics, 6 ECTS in statistics, 30 ECTS in economics. However, also the quality, level, and broadness of the pre-education is taken into consideration, not only the number of credits.
• Language proficiency: English B2 (Common European Framework of Reference for Languages), certified by IELTS 6.0 or TOEFL 90 (IBT). For exceptions see FAQExternal link. German proficiency is not required but recommended.

For a detailed description of the application procedure see the official page of the Master Service Centre. You have to apply by using the online application platform. The Master Service Center supplies you with all information, i.e. the procedure and required documents. If you have any questions regarding the application documents of the application process, please use the contcact facilities of the Master Service Center.

The online application platform opens from April 1st, the deadline for application is July, 15th! The deadline is strict. The program starts in the winter semester only!

Important: If you need a visa, many embassies require to schedule an appointment until July 1st in order to get the visa before October (semester start). This means that you should apply as soon as possible! The earlier you apply with complete documents, the earlier the Master Service Center can process them, and the earlier you receive the admission letter which is necessary for the visa interview.

Workflow:

After the Master Service Center has checked your documents, translated the grades etc., the Admission Commission gets access to your documents at the application platform. The commission will make the decision quite quickly (in most cases in 1-2 days, in some cases 1 week). After the decison is made, the Master Service Center is in charge to inform you. Henceforth, if you haven't heard anything about your application, it doesn't help to contact the faculty (program coordinator, or Dean, or examination office) to ask about the application status! In most of the cases, the faculty has not yet access to your appliction documents. We understand that many applicants are in need of visa. But this applies to 95% of the applicants of our master program. Henceforth, it is not possible to speed up the process for individual cases.  We kindly ask you to refrain from requests regarding the status of your application.

Further notes:

• Read thispdf, 21 kb · de first before you start the online application process.
• Be sure that you want to apply for a research-oriented program in economics. The programme is not about Business Administration, Managament, Finance, or Accounting.
• Don't translate your grades into our grading system by yourself. Don't translate your credits into our ECTS by yourself. This is done by our Master Service Centrer.
• If you got an admission letter (and a visa, if necessary), the International Office of the FSU (not the faculty) is in charge for the enrolment process of international students. Please note that you have to enrol in person in Jena, and there exists a deadline for enrolment.

Compulsory courses (18 ECTS - old / 30 ECTS - new)

• Approches to Economic Science
• Empirical Methods
• General Key Qualifications (see Handbookpdf, 579 kb · de, section 2.5)
• Advanced Microeconomics (new)
• Advanced Macroeconomics (new)

Elective courses I (at least 24 ECTS - old / 12 ECTS -new)

• Advanced Microeconomics (old)
• Advanced Macroeconomics (old)
• Public Finance
• Public Choice
• Money and Financial Markets
• Regional Development
• Advanced Studies in Entrepreneurship (new)
• Economics of Innovation I: Innovation Decisions (new)
• International Trade (new)

Elective courses II (at most 6 ECTS)

• Supply Chain Management
• Technology Management
• Sustainable Asset Management
• Organisationsstrukturen
• Steuern und Unternehmensbewertung
• Konzernrechnungslegung
• Grundlagen des Internationalen Managements
• Decision Making
• Economics of Accounting
• Interdisciplinary Foundations (see Handbookpdf, 579 kb · de, chapter 2.4)

Note that the basic area is different in case of choosing the specialisation area "Regional Dynamics", see Handbookpdf, 579 kb · de, chapter 9.

"old" means:  before winter intake 2023/2024,
"new" means: from winter intake 2023/2024

Detailed information about the structure of these specialisation areas you find in the handbookpdf, 579 kb · de.

• Innovation and Change:
  Students of this specialisation area gain deeper knowledge on issues about technological progress and change. The fields of economics of innovation and entrepreneurship play a central role in this specialisation. Key questions related to the measurement and evaluation of economic change and progress are considered. The field has a focus on innovation, entrepreneurship, industrial dynamics and socio-economic networks. A variety of interesting courses from the broad field of economic change is taught. The spectrum of the courses reaches from introductory courses of microeconomic theory of innovative behaviour and market dynamics, and advanced topics of the economics of structural change and entrepreneurship, right up to use of quantitative economic methods.
  
  
• World Economy:
  In this specialisation area students can acquire knowledge of international economic relationships, focusing on theoretical and political aspects. Specific questions about the specialisation and trade pattern between different countries are key to several courses. Course topics range from pure theory of trade, development theory and policy, but also monetary issues of international economic relationships. On the political side,issues about competition or fiscal policy are looked at from an international perspective. A reading course is offered, allowing students to discuss scientific texts. In addition to this quantitative economics are taught to assess important issues in the other courses.
  
  
• Economics and Strategy:
  The specialisation "Economics and Strategy" is aimed at students with a quantitative background. The specialisation is academic, not vocational with an emphasis on understanding and analysing its subject. It does not require prior knowledge of economics, but it assumes a keen interest in and an openness to economic reasoning. Courses cover a range of different disciplines. They aim at understanding the structures and strategies of economic actors and how these actors provide and respond to incentives. Core courses put a particular emphasis on quantitative and analytical methods and their relevance for economic issues. Dedicated modules focusing on behaviour, complexity, innovation and strategic interaction address the most pressing issues in modern economics. Related research areas include corporate governance, market design, network economics, game theoretic approaches to strategy, executive compensation, organisational structure, negotiation, and system dynamics.
  
  
• Public Economics:
  This specialisation area concentrates on the economic analysis of the role of the state and its public sectors in a wider sense. Central questions about the functioning of the state as an economic actor are addressed. Topics regarding the revenue and expenditure side of government budgets, monetary and fiscal policy as well as the assessment of state interventions into the market outcome in closed and open economies play a crucial role in this area. Beyond that, important areas of public policy such as innovation and trade policy as well as education and migration policy are studied and students gain an insight into quantitative economics.
  
  
• Macroeconomics and Financial Markets:
  This specialization area imparts a comprehensive understanding of macroeconomics and finance, equipping students with strong analytical and numerical skills to thrive in their careers as economists in central banks, financial institutions, international organizations, government departments, and academia. The specialization covers a diverse range of theoretical and applied topics in Macroeconomics and Financial Economics, emphasizing the intricate interplay between financial markets and the (macro-)economy. Furthermore, the curriculum enables students to develop and evaluate economic policies that promote economic and financial stability, making it a highly valuable area of study in economics.
  
  
• Regional Dynamics:
  This specialisation area provides an interdisciplinary approach to a better understanding of regional dynamics. The perspectives both of economics and regional science (geography) are part of the program. This allows a more comprehensive approach to topics like migration, innovation and, more generally, economic and social change, which very often have an important regional dimension. Furthermore, also topics of special relevance for the local region are addressed. A special feature of this area is that it can be studied with an economics and a geographic background. German and English language skills are required.
  
  
• General Economics:
  This "specialisation" area can be chosen if you don't want to specialise too much. It covers a broad range of courses from various fields.

The master's thesis (24 ECTS) takes 4 months (plus preparation time). The topic of the thesis has to be related to your specialisation area. You should demonstrate that you are able to apply your knowledge and skills to an economic research question. You have the opportunity to suggest your own topics, and you have to look for a supervisor for it.

Within this master program we are currently offering two double degree master programmes in the field of economics in coorperation with Italian universities:

• Università degli dell' Insubria (Varese)
• Università di Trento

Further information can be obtained here de.

• If you complete a certain amount of courses which contain computer-based methods you could get the "DigiLab" certificate. For detailed information see here.
  
  
• If you complete a ceratin amount of courses which are related to sustainability and the SDG of the United Nations you could get the "Sustainable Business and Economics" certificate. For detailed information see here de.

• Handbook of the study programpdf, 579 kb · de: find here the entire structure of the curriculum, the study schedule, regulations for specific modules and language courses etc.
• Description of the modulesExternal link (Friedolin)
• Study orderpdf, 75 kb · de (English version, legally binding is the German version)
• Examination orderpdf, 150 kb · de (English version, legally binding is the German version)
• Official study and examination order de (in German)
• Semester datesExternal link