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!
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.
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
Admission Requirements
The admission requirements must be fulfilled until the application deadline:
Bachelor's degree
Application in the case of unfinished Bachelor studies: In cases where present Bachelor studies have not been fully completed, application is permitted if the candidate has earned at least 80% of the required credits and will have achieved the remaining results by 30 September at the latest. The specific admission criteria governing the designated course of study (including the overall grade) must already have been fulfilled on the basis of the exam results available at the time of application.
Overall grade of at least 2.7 (German grade) in the Bachelor’s degree
Fulfilment of the following subject-related requirements
At least 18 ECTS credits in Economics
OR
At least 40 ECTS in Mathematics
At least 48 ECTS credits in further Economics, Business Administration and/or Social Sciences
At least 15 ECTS credits in Statistics and/or Mathematics (methodological expertise only, no user expertise)
Within the selection process each applicant receives an individual score that consists of the following criteria:
Grade earned in the preceding Bachelor’s degree [68-34 points]
Result of the admission test TM-WISO/ GMAT/ GRE [32 - 0 points]
The criteria above are used to determine a score for each candidate. Study places are subsequently allotted according to an applicant’s position on the ranking list. The distribution of the points can be seen in the admission regulations and in this pdf-file. The results of the last admission procedure can be seen here.
Application documents
Authenticated documents required for the Master's online application portal by the WiSo Faculty:
Bachelor degree certificate | If you have not finished your bachelor studies but have passed at least 80% of the examinations (at least 144 credits in a bachelor degree carrying 180 ECTS credits), you can apply by submitting a confirmation of all credits earned so far, along with a provisional average grade computed and certified by your examination office. Please note that the remaining credits must be earned by 30 September.
Transcript of records (stamped and signed) | list of all taken modules and courses including grades and credits
Transcript of semester abroad | only if examinations passed abroad should be considered for the admission criteria as well | the courses have to be recognised by the home university as part of the bachelor programme and recorded in the transcript of records.
School leaving certificate | A-levels/ High school diploma
Official description of the content of all taken bachelor courses | e.g. course catalogue or PDF-file with link to course description at the website of the University)
If you are interested in the Double Master's Programme in Economics, please check the additional application documents.
Students who did not obtain their bachelor’s degree in Germany have to apply additionally via uni-assist. Please note, you have to document your education in detail. You start with the certificate from the last school you graduated from (which entitles you to begin university studies in your home country) and continue up to the current state of progress in your university studies. Furthermore, you have to hand in all documents in original language and additionally in sworn translation either in German or in English language. It is recommended to send the application documents to uni-assist 6 weeks before the application deadline. The following documents are needed:
authenticated (and translated) copy of bachelor degree certification or attestation of 80% studies and Transcript of Records | Please submit all certificates in their entirety: include the diploma certificate as well as the overview of subjects and grades. You must not omit any parts of the certificate (such as a diploma supplement) or single pages. In order to calculate your grade, uni-assist needs the grading system used by your university for your degree. More information can be read here.
authenticated (and translated) copy of university entrance qualification | e.g. A-level, High School diploma | Submit the certificate which allows you to start university studies in your home country | Please also check the country specific information.
authenticated copy of proof of English language proficiency
authenticated copy of all documents listed above in the original language |Only if the original document is not available in English or German language. Information about translation and authentication of documents can be read here.
only for applicants with Chinese (except Hongkong), Mongolian or Vietnamese bachelor’s certificates | original APS certificate| certified copies cannot be accepted!
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.
International
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 international.wiso.uni-koeln.de.
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.
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.
Who seeks to solve economic problems and create better institutions, needs to know how people react to incentives.
