Economics (VWL) - Master of Science

The special profile of the Master's degree program in Economics at Osnabrück University is the combination of a broad-based economic education with the possibility of individual specialization. The subject areas of microeconomics, macroeconomics, finance, international economic policy, statistics/econometrics and environmental economics offer a wide range of in-depth courses.

The course language in the Master's degree program in Economics is English, individual elective components are offered in German. Proof of German language skills is not required for the application. Through certain subject combinations, students can choose to specialize in Empirical Economics or in Sustainability, Behavior and Environmental Policy :

Empirical Economics

Modern economics is increasingly using empirical methods in its research. The School of Business Administration and Economics is particularly strong in this area, as the three subject areas of Macroeconomics, International Economic Policy and Statistics/Econometrics conduct uniform empirical research and together form the Institute of Empirical Economic Research.

With the focus on Empirical Economics, we offer students research-based teaching in which they acquire a strong methodological foundation in the fields of statistics and econometrics on the one hand and receive an application-oriented education in which various economic policy issues are addressed on the other. A special feature is that students also work independently on empirical projects and carry out estimates, e.g. as part of a larger project seminar.

Sustainability, Behavior and Environmental Policy

This specialization is aimed in particular at students who want to understand the connection between environmental problems, human behaviour and the economy, learn about and discuss possible solutions and actively shape a social transformation towards greater sustainability in their future careers.

The unique selling point of this focus area is the combination of environmental economics with findings from behavioral economics. The latter lies at the interface with psychology and allows an expanded understanding of human behavior beyond the model of homo economicus traditionally used in Business Administration and Economics, e.g. by taking into account bounded rationality and willpower, the role of values and social norms as well as innovative policy approaches such as so-called nudges. At the same time, environmental economics offers important insights into the role and design of economic incentive instruments in environmental policy (such as CO2 pricing) and the correlation between economic growth, resource consumption and environmental quality. However, sustainability transformation also requires a solid understanding of our economic system.

Economists have very diverse fields of application. They are in demand wherever strategies are developed that require a sound understanding of economic behavior and long-term forecasts based on this. Examples include consulting, strategy or sustainability departments in companies and banks. Economists are also needed in ministries and other public institutions as well as research institutes and international organizations. Students benefit from the above-average labor market situation for economists.

Graduates in Economics have a strong understanding of microeconomic and macroeconomic processes. The specific field of work depends on the analytical skills, individual interests and specialization during the course: some graduates want to analyze current market developments for companies or develop new business strategies; others, on the other hand, want to contribute to better regulating economic life and making it more sustainable.

The Master's degree course in Economics is designed for a standard period of study of four semesters. This corresponds to a total of 120 credit points (CP), of which 10 CP are allocated to the compulsory area, 90 CP to the compulsory elective area and 20 CP to the Master's thesis.

The School of Business Administration and Economics has reorganized the Master's degree course in Economics for the winter semester 2022/2023: While it was previously possible to specialize in only one focus area, there are now two focus areas - Empirical Economics and Sustainability, Behavior and Environmental Policy - to choose from.

The following diagram shows the new structures of the Master's degree course in Economics from the winter semester 2022/2023:

Master's degree program "Economics"
(120 CP in four semesters)

¹ The compulsory module Advanced Methods of Business and Economics can be taken either in the first or second semester, depending on the time of admission. The diagram shows the course for students starting in the winter semester.

² In the compulsory elective area (90 CP), at least 60 CP must be chosen from the area of economics and methods and at least 10 CP from the area of business administration. Furthermore, the modules can be combined into one of the two specializations.

Color codes:

Of the 120 CP to be completed in the degree program, 10 CP are allocated to the compulsory area, 90 CP to the compulsory elective area and 20 CP to the Master's thesis.

In the compulsory area, the module "Advanced Methods of Business and Economics" is completed for 10 CP. Here, students acquire advanced skills in the microeconomic analysis of business and economic issues as well as in econometric analysis and apply these to specific examples. Depending on the time of admission, the compulsory module is taken either in the first or second semester. The diagram shows the course of study for the winter semester.

Of the 90 CP in the compulsory elective area, at least 60 CP must be chosen from Economics and Quantitative Methods and at least 10 CP from Business Administration. The remaining 20 CP can be taken both in economics and in business administration as well as in related disciplines. The modules in the compulsory elective area can also be optionally selected in such a way that one of the two specializations is shown. Overall, the compulsory elective area is characterized by a high degree of flexibility. This allows students to configure their studies to suit their own interests and career goals.

The examination regulations contain binding answers to questions about the course of study, the examinations to be taken, the final thesis, the certificates and many other aspects of the course.

The access requirement is a Bachelor's degree of at least 180 CP in a suitable or closely related degree program. The Master's admission regulations contain detailed information on the content requirements that must be fulfilled.

In particular

1. 15 CP in mathematics, statistics or econometrics, of which at least 8 CP in statistics or econometrics, and
2. 25 CP from the field of Economics

must be demonstrated.

In addition, English language skills must be at level B2 according to the Common European Framework of Reference for Languages (CEFR). The details are also regulated by the admission regulations. Proof of German language skills is not required.

Important: If possible, a permanent Internet address for the module descriptions of the completed Bachelor's degree program should be provided with the application (in the case of foreign module descriptions, translations in German or English should be available. If no internet address can be provided, a corresponding pdf file can be uploaded instead.

Especially if your Bachelor's degree does not have the exact title "Economics" or "Volkswirtschaftslehre", the module descriptions are important for assessing your suitability.

You can already apply if you are about to complete your Bachelor's degree (proof of 150 CP).

Further information on the access requirements can be found in the  admission regulations.

 International applicants with foreign certificates apply via the  uni-assist service center.

The following documents, among others, must be uploaded to the online application portal:

• Bachelor's degree certificate or proof of credits of at least 150 CP
• English language certificate
• A personal declaration that
  - a comparable Master's degree program has not yet been completed
  - a comparable Master's degree program has not yet been definitively failed or the right to take examinations has been lost
• Module descriptions (if possible)

The  admission regulations contain information on further documents to be submitted.