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Master of Science

Master Economics

If you’re already studying Economics and would like to find out more about specific details of your master programme, you’ll find what you’re looking for on the Master Economics Programme Structure pages.

Thank you for your interest in the master's programmes of the WiSo-Faculty.

On this webpages you will find all required information on the Master Economics - you will get a sneak peak into the programme structure as well as all facts about the admission criteria and the selection procedure.

In a nutshell

  • Standard period of study: 4 semesters, full-time
  • Start: Fall term
  • Degree title: Master of Science (M.Sc.)
  • Language: English
  • Fees: Only Social fee
  • Application Deadline: June 15th 2019

The Faculty’s excellence in both teaching and research was obviously one of the main reasons I chose the University of Cologne. However, it is particularly Cologne’s unique charm which makes studying here so worthwhile. It is not merely a good place to work. Above all, it is a very good place to live!

Jakob, Master in Economics, 3rd semester

Only the best for your career

Graduates find possible fields of employment in specifically economic dominated areas of public institutions like ministries, central banks, agencies, and public authorities (like antitrust divisions or regulatory authorities), European institutions (like the European Commission) or international institutions (like the OECD, IWF or World Bank). Additionally, universities and research institutes as well as economic departments of private institutions (banks, consulting agencies, larger industrial corporations, organisations or the media) offer jobs for economists. Moreover, graduates of this programme are especially in demand in other areas of the private sector (like consulting agencies, investment banking or corporations of the network industry). The M.Sc. Economics at the WiSo-faculty of the University of Cologne widens ýour knowledge gained in your bachelor studies and makes you an expert in your respective area. For many managing positions of different industries and for certain professions in research and teaching, a master is indispensable.

In order to get an impression of the various career prospects, please read interviews with our graduates.

As the University of Cologne is state-funded, there are no tuition fees, just a biannual “semester contribution” of slightly more than 250 euros, which includes the semester ticket for public transport throughout North Rhine-Westphalia. All in all, joining University of Cologne means investing in an excellent education – and your professional future – without paying a fortune.

Some examples of the questions Economics students look at

  • How is economic growth generated?
  • How can unemployment be permanently reduced?
  • How does globalisation affect the German/European economy?
  • What are the effects of unequal distribution of wealth?
  • How do people behave in markets?
  • Do we need a reform of the healthcare market?
  • What are the effects of different taxation systems?
  • Which methods are suitable for assessing economic policy measures?
  • From an economic point of view, was it right to introduce the euro?
  • How should the ECB control the interest rate?
  • Should there be tough debt ceilings for states?
  • What impact do certain political decisions have on prosperity and growth?

Economics - Master of Science

Information on the application

From the middle of April onwards you can submit your application via WiSo Faculty's Master's Application Portal. Applicants with a (bachelor’s) degree acquired abroad must additionally apply via uni-assist online as well as postal until 15 June (date of receipt). If you apply for our Double Master’s Programme(s) the deadline is 30 April (date of receipt).

Detailed information about the admission procedure, admission deadlines and required documents are provided at the application website.

We are looking forward receiving your application!

Curricular design

The master programme Economics consists of 120 ECTS (European Credit Transfer System) Points and is designed as a 4-semester full-time programme. It is a consecutive master degree based on a bachelor degree within the field of economics.

The Core and Advanced Section of the master programme economics contains 30 credit points. This area covers content-specific and methodological basics of micro and macroeconomics, statistics, econometrics and mathematics. These competencies enable students to comprehend scientific literature of economic science and furthermore to independently analyse economic problems on an advanced theoretical and empirical level.

In the Specialisation Section, you choose two out of seven different subareas (“fields”). In each one, you have to obtain 18 credit points in three specialisation modules. These fields reflect the Faculty’s specialist research and application areas in the area of economics. Additionally, you have to earn 18 credit points in the area of ‘Selected Issues in Economics’. This area contains a portfolio of selected field courses and gives you the opportunity to gain further insight into the different fields of economics at the WiSo-Faculty. For example, in order to develop a better understanding of a particular field module, you can choose a single module in statistics without having to choose the whole ‘Statistics and Econometrics’ field.

The fields are structured as follows:

  • Design and Behavior
  • Energy Economics
  • Growth, Labor and Inequality in the Global Economy
  • Markets and Institutions
  • Macroeconomics, Money and Financial Markets
  • Public Economics
  • Statistics and Econometrics
  • Selected Issues in Economics

Students also have the possibility to have credits acquired during a semester abroad accounted for at the WiSo-Faculty.

The Supplementary Section serves as an additional section to develop a more specific profile – either by deepening and specialising or by diversifying knowledge. Further modules of the extensive course offer of the faculty from economics as well as from social sciences or business administration are available to students. Examples for modules are e.g. finance, corporate strategy, economic psychology or economic geography. This area covers 12 credit points.

Detailed information concerning the curricular design is available on our homepage on the Programme Structure pages. Especially at the beginning of your studies, individual consultations will help to make the right choices over the course of the programme.


Most of our courses are offered in English language. Therefore, it is possible to apply without knowledge of German language and to complete you master's degree in English. For our Master of Science in Economics, a large number of different nationalities interested in studying apply. Thus, we ensure you to study in an international as well as intercultural environment. We maintain cooperation with more than 130 partner universities throughout the world, so it easy for you to go a semester abroad. Alternatively, you can take part in one of our study tours or other short programmes. More information and offers can be found at

Double degree option

In addition to our regular master’s programme, students have the option to study the Double Master’s Programme in Economics in cooperation with Keio University. Students of the international study programme spend one year at the WiSo Faculty and one year at Keio University. After successful completion of the programme, they are awarded two degrees.


Students who wish to pursue a PhD should get more information on the webpages of the Master of Economic Research or the Cologne Graduate School of Economics (CGS-E).

Practical Experience

In the M.Sc. Economics, students profit from the theory- and methods oriented approach of the WiSo Faculty of the University of Cologne that combines research and teaching with practice.

As a student of the WiSo Faculty, you benefit from an approach that is based on theory and methods, combining both research and teaching with practical elements. The teaching at our faculty has benefited from many years of experience in working with companies and visiting lecturers from different professional fields. Many of the visiting lecturers are professionals and managers who bring important industry experience to the programmes, resulting in sector-specific, up-to-date programme content for our students. This ensures that the programmes reflect the real world by combining the practical and the theoretical, whilst also promoting knowledge-sharing between you and companies. A selection of our corporate partners can be found in this overview.

Axel Ockenfels

Who seeks to solve economic problems and create better institutions, needs to know how people react to incentives.

Axel Ockenfels, Department of Economics (Research focus: Economic Design, Experimental and Behavioral Economics, Industrial Economics)