Germany is one of the top destinations for students seeking a world-class education in economics. With globally ranked universities, low or no tuition fees, and a strong economy that offers abundant career opportunities, pursuing a Master’s in Economics in Germany can be a smart choice. Whether you seek affordable education when you study abroad, global exposure, or post-study work opportunities, Germany has it all.
Key highlights:
- Benefits of Studying Master’s in Economics in Germany
- Interesting Facts About Germany
- Master’s Degree in Economics in Germany – Course Overview
- Top Universities in Germany for Economics
- Eligibility Criteria for MS in Economics in Germany
- Cost of Studying Master’s in Economics in Germany
Benefits of Studying Master’s in Economics in Germany
Here’s why it’s a good idea to pursue an MSc in Economics in Germany:
Student-Friendly Environment
Germany’s vibrant student cities, such as Berlin, Hamburg, and Munich, provide an enriching environment for international students. These cities offer affordable housing, cultural events, and a dynamic student community, making them ideal for academic and personal growth.
Vast Career Opportunities
Graduates with a Master of Economics in Germany can explore diverse career opportunities across industries, including consulting, risk management, banking, and finance. The country’s strong economy and global business presence make it a hub for high-paying and growth-oriented jobs in both domestic and international markets.
Strong Foundation for Higher Studies
For those aiming for PhD programmes or research careers, a Master’s in Economics from Germany serves as a strong academic foundation. Germany is home to prestigious research institutions that emphasise innovation and advanced studies, making it an excellent place for academic growth.
Also Read: Highest-Paying Jobs in Germany Students Must Know
Interesting Facts About Germany
| Number of international students in Germany | |
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| Post-graduate work visa |
Master’s Degree in Economics in Germany – Course Overview
Course Structure
Most universities offer a modular structure, combining compulsory courses such as Advanced Microeconomics and Macroeconomics, Econometrics and Empirical Economics, and Mathematical Foundations for Economics with elective subjects like Analytical Economics, Behavioural Economics, Financial and Macroeconomics, and Competition and Regulation Economics.
Research and Exposure
Most programmes strongly emphasise independent research. Several universities offer study-abroad programmes, internships, and research assistantships, enabling students to gain practical experience and international exposure.
Career Options and Future Prospects
Graduates are well-prepared for careers in banking, consulting, public policy, research, and multinational corporations or may choose to pursue a PhD in Economics.
Top Universities in Germany for Economics
Let’s explore the best universities in Germany for Economics for post-graduate courses in English as per the Quacquarelli Symonds (QS) and Times Higher Education (THE) rankings.
- QS Category – QS World University Rankings by Subject 2024: Economics & Econometrics (German-specific)
- THE Category – World University Rankings 2024 by Subject: Economics & Econometrics (German-specific)
| Sr. No. | University | QS Rank | THE Rank |
|---|---|---|---|
| 1 | Ludwig-Maximilians-Universität München | 1 | 1 |
| 2 | Universität Mannheim | 2 | 15 |
| 3 | Rheinische Friedrich-Wilhelms-Universität Bonn | 3 | 5 |
| 4 | Humboldt-Universität zu Berlin | 4 | 3 |
| 5 | Freie Universität Berlin | 6 | 7 |
Eligibility Criteria for MS in Economics in Germany
Academic Requirements
To pursue an MS or MA in Economics in Germany, you must complete a bachelor’s degree in Economics or a related field.
Language Proficiency
For a Master’s in Economics in Germany, students must prove their proficiency in the language of instruction, which is English. They require an IELTS score of at least 6.0 or a TOEFL iBT score of 80. Some universities have stricter language requirements.
Required Documents
- Academic transcripts
- CV or Resume
- Statement of Purpose (SoP)
- Letters of Recommendation (LOR)
- Valid passport
Also Read: All You Need to Know Before Pursuing a Master’s in Germany
Cost of Studying Master’s in Economics in Germany
Public universities in Germany are well-known for offering quality education at affordable rates. At institutes like Ludwig-Maximilians-Universität München and Freie Universität Berlin, students have to pay a nominal student union fee per semester of €66.50 and a student union fee of €62.
Cost of Living in Germany
On average, students spend €410 per month on rent and €198 on food and groceries. While applying for a German student visa, you may need to prove you have access to €992 per month or €11,904 per year to support yourself.
Pursuing a Master’s in Economics in Germany is a rewarding investment in your future. However, managing finances for tuition, living expenses, and other costs can be a challenge.
That’s where Avanse Financial Services steps in to support your academic aspirations. With our hyper-personalised education loan for study abroad programmes, you can leave your financial worries behind. Our student loan solutions cover tuition fees, accommodation, travel, and other education-related expenses so you can focus on excelling in your studies.
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