MS in Economics in Germany produces competent graduates who can use mathematical models to quantitatively describe and analyze problems that arise in companies, research, government, financial institutions and other organizations.
This course is generally 2 years long and offered at a meagre cost (tuition fees and low student contribution fees) in public universities in Germany.
Applicants can apply directly to German Universities for Masters in Economics programs. Alternatively, international applicants can also apply via Uni-assist.
For those wondering what Uni Assist is, it is a centralized admissions portal run by the German Academic Exchange Service (DAAD) and handles international applications for its member universities.
Why Study a Master in Economics in Germany?
- Some Leading universities for masters in economics, like Munich Technical University and the University of Heidelberg, are in Germany.
- Zero to low tuition fees
- GRE/GMAT scores are not compulsory
- The salary of professional postmasters in economics ranges from Euro 40,000 to 50,000 annually.
Top Universities for MS in Economics in Germany
THE Ranking 2023 |
University |
Courses Offered And Duration |
38 |
Ludwig Maximilian University of Munich |
|
151-200 |
Heidelberg University |
|
=78 |
Humboldt University of Berlin |
|
86 |
University of Freiberg |
|
91 |
University of Tuebingen |
|
301-350 |
RWTH Aachen University |
|
105 |
University of Bonn |
|
151-200 |
Free University of Berlin |
|
151-200 |
University of Goettingen |
|
201-250 |
University of Hamburg |
|
151-200 |
University of Cologne |
|
Specializations areas
- Innovation and Change
- World Economy
- Economics and Strategy
- Public Economics
- Quantitative Economics
- Quantitative Macroeconomics
- Regional Dynamics
- General Economics
|
Masters in Economics in Germany Fees
University |
Master in Economics Fees in Germany |
Free University of Berlin |
No tuition fees. Limited semester fees and contributions |
Ruhr-University Bochum (RUB) |
No tuition fees Semester fees: €320 per semester to cover administrative costs and to give you access to free public transport in the region (semester ticket) |
Friedrich Schiller University Jena |
No tuition fees |
University of Heidelberg |
No tuition fees |
University of Mannheim |
No tuition fee Semester fees:194. 30 Euros for domestic students Semester fees: 1,500 for International students |
Ludwig Maximilian University of Munich |
No tuition fees Semester fees: less than 150 Euro |
RWTH Aachen University |
No tuition fees Semester fees: less than 150 Euro |
Masters in Economics in Germany Requirements
Application Requirements/ Document Checklist
- Certified copy of university transcripts- mark sheet, character and provisional certificates.
- Certified copies of higher secondary qualification (+2)
- Letter of Motivation
- A current CV
- GRE/GMAT Scores is asked
- Application fees
- Proof of Scholarship
- English test scores
- Passport
University Specific Requirements
Free University of Berlin
- Course name: Master of Science in Economics
- Course duration: 4 semesters/ 2 years
- English Test Scores:
- IELTS: An overall of 6.5 with no band score less than 6.0
- Academic Requirements: Applicants need a Bachelor's degree in economics with at least 50 credit points and at least 30 credit points in mathematics, statistics, or econometrics.
Technical University of Dortmund
- Course name: Masters in Econometrics
- Course duration: 4 semesters/ 2 years
- English Test Scores: (B2 level English)
- IELTS: An overall of 6.0 with no band score less than 6.0
- Academic Requirements: Applicants must have a Bachelor's degree in economics, statistics, or mathematics with a minimum final GPA of 2.7.
Friedrich Schiller University Jena
- Course name: MSc Economics (Research-oriented)
- Course duration: 4 semesters/ 2 years
- English Test Scores: (B2 level English)
- IELTS: An overall of 6.0 with no band score less than 6.0
- TOEFL: An overall score of 90
- Academic Requirements: Applicants must have a minimum 3-year Bachelor's degree in economics, statistics, or mathematics with a minimum final GPA of 2.5 or 65%.
University of Heidelberg
- Course name: MSc Economics (Research-oriented)
- Course duration: 4 semesters/ 2 years
- English Test Scores: (B2 level English)
- IELTS: An overall of 6.5
- TOEFL IBT: An overall score of 90
- TOEFL CBT: A minimum of 230
- TOEFL PBT: A minimum of 570
- Academic Requirements: Applicants need a university degree in Economics or a closely related degree with a minimum GPA of 2.5.
University of Hohenheim
- Course name: Master of Science in Economics
- Course duration: 4 semesters/ 2 years
- English Test Scores: (B2 level English)
- Academic Requirements: Applicants need a minimum of 3 years of Bachelor's degree in business administration, economics or other related degree with a minimum of 2.5 GPA.
University of Mannheim
- Course name: Master of Science in Economics
- Course duration: 4 semesters/ 2 years
- English Test Scores: (B2 level English)
- IELTS: Overall 6.0
- TOEFL: Overall 70
- Academic Requirements: Applicants need a minimum of 3 years of Bachelor's degrees in economics, finance, mathematics and statistics with a minimum GPA of 2.5.
Scholarship
Even though the tuition fees for education in Germany are already lower than in most other countries, it still offers various scholarships to international students through government and non-government scholarships.
Some of the most popular scholarships offered by Germany are:
- DAAD Scholarship
- RWTH International Academy Women in Engineering Scholarship
- Development-Related Postgraduate Courses (EPOS) Scholarship
- UDE scholarship
- Surplace Funding for Master Degree Programme
- Friedrich Ebert Foundation Scholarship
Among these scholarships, DAAD is Germany's most popular scholarship for graduate students. The value of the DAAD Scholarship is a monthly award of EUR 850,00 for Master students and EUR 1,200.00 for PhD students (beginning with September 2018).
This scholarship may also cover health insurance and travel allowance.
To be eligible for DAAD Scholarship in Germany, applicants must fulfil the following criteria:
- Apply to graduate programs in Germany
- A minimum of 2 years of post-study work experience in the relevant field.
- A Minimum of 6.0 in IELTS, 550 in TOEFL Paper-based, 213 in TOEFL Computer-based and 80 in Internet-based.
- Hand-signed CV
- Confirmation of employment and Professional Letter of Recommendation from employer
- German Language ability for programs in the German language.
Scope after completing MS in Economics in Germany
Depending on your chosen specialization, you can work in ministries and international organizations, in politics or in banking and insurance.
Economics graduates can join the federal, state and local administrations, the European Central Bank, the Bundesbank, the Federal Statistical Office, and chambers and associations.
Role |
Annual Average Salary in EUROs |
Data Analyst |
64,078 |
Data Scientist |
98,504 |
Economist |
79,307 |
Research Analyst |
64,787 |
Business Intelligence Analyst |
70,624 |
Economic Analyst |
65,602 |
Analytics Consultant |
70,881 |
Market Research Analyst |
51,124 |
Finance Director |
153,088 |
Risk Analyst |
77,754 |
Data Engineer |
86,242 |
Finance Associate |
77,666 |
Compliance Manager |
84,786 |
|