Updated on May, 23 2024 06:55 IST
MS in Economics in Germany
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MS in Economics in Germany is great for students who want to achieve brilliant career prospects. Also, it is ideal for students interested in macro and micro-level professional prospects as well. As a student of MS in economics one would be learning about the various aspects pertaining to the rules, regulations, practices and the trade policies that govern both national and international markets. During the duration of this degree the student would get to study about the various factors governing the world of finance, debt, tax policies, econometry, investment and insurance. Moreover one would also closely explore the relationship that exists between the supply and demand chains. To excel in this particular course one needs to possess great analytical and critical thinking skills. Because economics is something that affects all parts of one’s life, a student pursuing MS in economics should also possess a multidisciplinary approach when going into this degree. Germany is the third largest economy in the whole world. Not only that it is also an educational hub with 11% international students. There are plenty of reasons why students are attracted to Germany for their higher studies. Students get to study free in Germany with an affordable and comfortable lifestyle. In this article, let us look for jobs, scholarships, and universities students would like to enrol for the most in Germany.
| Program | MS in Economics |
| Course duration | 2 years |
| Language of Instruction | English |
| Tuition Fees | Free |
| Living cost in Germany | 1000 EUR per month |
| Sessions | 2 - Summer and Winter |
Germany is an ideal place to study STEM courses. Here are the top 6 reasons for students to study masters in economics in Germany.
Low Tuition Fee: There is no tuition charge for students who choose a public university. Although administrative charges do apply. Public institutions do not charge tuition fees, and private universities charge a low tuition fee.
Affordable Lifestyle: Along with free study in Germany, students can live an affordable lifestyle because of low expenses and taxes. The government of Germany also supports students with different part-time job opportunities and scholarships.
Exposure To Diverse Culture: Germany welcomes many students from overseas each year. Cultural diversity will promote students to have connections from all over the world. Students in MS in economics will be exposed to cultural diversity from varied backgrounds.
Curriculum: Universities for MS in economics in Germany follow a special curriculum that integrates quantitative and method-based procedures to produce better results. The curriculum is made for a better real-world corporate and professional approach.
Scholarships: The government, research foundations, and private institutions offer various scholarships to students who want to study in Germany. There are plenty of scholarships for students to apply to and get a seat in their desired university.
Jobs: Germany has one of the highest employment rates in the whole world. Different MNCs and public companies offer economists plenty of job opportunities with high-paying salaries.
Germany is a hub for masters in varied courses and is great for commerce-based courses like economics. With world-class facilities, extremely experienced faculty and pocket-friendly education, Germany attracts students from all over the world to pursue MS in economics.
To ensure that you get admitted to a German university for your studies abroad, make sure that you meet all the following criteria:
You must complete a minimum of 12 or 13 13 years of your school life and must have passed your high school (10+2) with economics, math or any commerce-related field as a discipline, and marks not less than 50%.
You must have completed your graduation from a recognised university in a related field with at least 50% aggregate in all three or four years of graduation.
Since it is an international degree and most universities in Germany teach in English, you must take up and pass English proficiency tests like IELTS, with a score range of 6.5 to 7 bands, or TOEFL, with a 90-100 score range.
More and more universities in Germany are turning to using the English language as their main preferred language of instruction and imparting knowledge as students visit Germany to pursue their higher studies from varied countries, and the English language serves as a standard ground of understanding between them. Hence, you are required to take up tests to prove your English speaking and writing ability, like IELTS or TOEFL. Though rarely, some universities that teach in German may also ask you to be a B1 level scholar in German language proficiency.
If you want to pursue MS in economics at a German university, you will typically get two chances in a year to apply and take admission. To ensure your admission to your desired university for MS in economics in Germany, take note of the following deadline for application:
Primary intake: Also known as the September or the summer intake, the application process in this primary phase of admissions begins around April and lasts till mid-July for students to begin their classes in the same year.
Secondary intake: For students who somehow miss the deadline in the first phase of admissions, the secondary intake opens the opportunity for applying again from October till mid-January. Also known as the March or winter intake, this phase lets students start their classes from the next academic year onwards.
To fully ensure your candidature for MS in economics at a German university, be it a privately-owned or state-owned university, you should prepare beforehand and be ready with all the necessary documents and credentials to avoid any last-minute mishaps and panics that can have the risk of your admission getting cancelled. Before applying for MS in economics in Germany, make sure you have the following documents:
Valid identity proofs like passport, VISA, recent passport-sized photograph, etc.
Proof of qualifying examinations like TOEFL, IELTS, German B1 level proficiency(if needed), etc.
Academic credentials like your high school grades, graduation mark sheet, etc.
Character proofs like letters of recommendation, statement of purpose, etc.
Germany is the only country in Europe that offers the most cost-effective education. Offering degrees that are recognised globally, and world-class education through highly educated faculty members, Germany allows you to have the best education globally at very menial prices. While most German universities offer free-of-cost education to international students, the minimum tuition fee may differ for different universities at times.
Take a look at the following table to understand the fee structure of German universities offering masters in economics.
| University | Fees |
|---|---|
| The University of Tubingen | 3,012 EUR per year |
| Technical University of Munich | 276 EUR per year |
| Humboldt University of Berlin | 216 EUR per year |
| Free University of Berlin | Free of Cost |
Before applying for any scholarship, a student should have eligibility for MS in economics in Germany. Here is a list of top scholarships one can apply for if they wish to pursue higher education in Germany:
The Deutschlandstipendium
The Friedrich Ebert Stiftung
Heinrich Böll Foundation
Konrad-Adenauer-Stiftung (KAS) Scholarships
Bayer Foundations
Marie Sklodowska-Curie Aid
MAWISTA Scholarship
HEMHOLTZ Association Grants
Hamburg University of Applied Sciences Scholarship
Leipzig Graduate School of Management Scholarship
Ulm University Specialized Scholarship
RWTH Aachen Scholarship
The DAAD Scholarships
Want to apply for admission to MS in economics in Germany? There are 161+ English language MS courses for economics in 80 + Universities in Germany. Look out for the given list of top universities below:
Technical University of Munich
Humboldt University of Berlin
University of Munich
University of Bonn
University of Mannheim
University of Gottingen
University of Hamburg
University of Cologne
Go through the following listed steps to get admission to a course in Economics in Bulgaria:
Our professionals will undertake an extensive study on the courses and universities you wish to apply to, meticulously revising their specifics such as eligibility criteria, papers necessary, and examinations required for admission.
Consult with us for assistance in registering on the website's admissions page and carefully filling out the application form without errors.
Our team will assist you in gathering and submitting all relevant documentation, including high school transcripts, eligibility certificates, equivalency certificates, passports, and other university-mandated paperwork.
Submit the application payment to complete the application process.
Following that, you may be required to take a university-sponsored entrance exam by certain universities. Our guidance advisors will assist you in preparing for the interview if applicable.
Some universities may also require you to take an English entry exam or provide proof of language skills.
If the college accepts your application after analyzing all of the information you provided in the form as well as your performance in the entrance exams, you will receive a confirmation email, and we will assist you in completing all of the final formalities to book a seat at your preferred institution.
Our team will assist you throughout the admissions process, from accommodation to visa provision.
What are the most popular branches when applying for MS in economics in Germany?
Some popular branches of MS in economics are International Business Development, Science in Applied Economics, Applied Economics (Banking and Financial Markets), and Panthéon Sorbonne. Most of the students who are admitted to masters in economics go for these specialised courses.
What is the highest paying job after completing MS in economics in Germany?
Some of the highest paying jobs after completing MS in economics in Germany are Economist (8800 EUR / Yearly), Market Research Analyst (6000 EUR / Yearly), Credit Analyst (6500 EUR / Yearly), Statistician (5700 EUR / Yearly), and Financial Analyst (4600 EUR / Yearly).
What is the minimum eligibility for MS in economics in Germany?
A bachelors degree in economics is the minimum eligibility for MS in economics in Germany.
Which companies recruit students with a MSdegree in economics?
Different MNCs and companies related to research fields, healthcare, and finance hire students after MS in economics. There are different government jobs too open for students pursuing economics.
Is MS in economics in Germany an expensive course?
Students taking admission to private universities for a MS in economics in Germany will have to pay about 31,000 EUR to 26,000 EUR approx, depending on the university choice. MS in economics in Germany is a mid-ranged course with high opportunities and job prospects.
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