In this article, we take a look at the best Economics universities in Germany. For those looking to study in Germany, this article would also explain why you should pick up a course in economics.
At its core, economics is the study of people. It aims to explain what motivates human behavior, decisions, and reactions in the face of adversity or success. Economics is a branch of study that combines politics, sociology, psychology, and history.
When you study economics, you gain a toolkit of skills, approaches, and ways of thinking that you can use to solve a variety of problems. Economics is a fundamental discipline that underpins the study of business, management, and public policy.
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Is Germany Good For Economics?
We deal with economic issues every day: financial crises, the trading of emission rights, or the results of globalization are all topics that are frequently covered in the media, along with economic growth, wage inequality, and unemployment.
We all have to make a lot of economic decisions in our personal and professional lives at the same time. Students who study economics at German universities work on the analysis and resolution of these issues.
Through intensive instruction and a method-based approach, the integrated approach to economics education used in Germany produces high-quality graduates who can withstand the professional environment of the real corporate world.
German universities lead the world rankings of institutions of higher learning in economics and conduct groundbreaking research.
The top economics schools in Germany have a distinguished history and each faculty offers a broad selection of courses and programs, including Behavioral Sciences, Computer Science, Quantitative Economics, and Psychological Economics.
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General Entry Requirements For Economics Students In Germany
Students must either apply directly to the university or through uni-assist to be admitted to a master’s program at a German university.
The German Academic Exchange Service (DAAD) manages international applications for its member universities through the centralized admissions portal known as Uni-assist. Prospective applicants need to have the following.
- Bachelor’s degree in economics from a German or international university, or from a cooperative education university recognized by the state.
- There must be a minimum of 22 credits (ECTS) in economics, 6 credits in math, and 6 credits in statistics.
- GRE test scores (for non-EU students) with an oral language skills score of 140 points on the GRE revised General Test OR 320 points on the GRE test overall.
- Within a year of enrolling, documentation of CEFR Level A1 proficiency in the German language is required.
- The following examples provide evidence of English language proficiency (Level B2 of the Common European Framework of Reference for Languages):
- 6.0 IELTS
- TOEFL iBT: 90
- iBT TOEFL: 575
Documents Necessary
International applicants to German universities must submit the following paperwork:
- Resume/CV
- A motivational letter in English (maximum of 500 words)
- Two letters of recommendation from professors at universities.
- It is optional to submit a 10-page academic essay that the applicant has written as well as other documents pertinent to the application, such as (work) certificates for internships or other subject-related activities.
- A certification for entering higher education from a school where English is the primary language of instruction after at least two years of education.
- Statement of Purpose.
- For applicants with degrees from China, Vietnam, or Mongolia, the German Embassy must receive the original APS-certificate.
- Identity document or passport
- University entrance qualification
The List of Best Economics Universities In Germany
An economics degree provides you with advanced mathematical and statistical skills, as well as the ability to apply economic principles and models to problems in business, finance, and government.
More broadly, economic concepts can be used to decipher the logic of complex data, see how things relate to one another, and understand the larger context. Below are the best Economics universities in Germany.
University of Munich
The Munich Graduate School of Economics (MGSE) provides a prestigious doctoral program in Economics to exceptional young and motivated researchers.
Doctoral candidates at the MGSE receive extensive training in advanced economic methods. They are brought to the forefront of cutting-edge research.
Members are immersed in a stimulating research environment that includes an ambitious and outstanding faculty as well as a large network of research institutions and facilities. The MGSE does not charge tuition for doctoral program attendance.
The MGSE coordinates various institutions and programs as the department’s graduate education umbrella organization.
All doctoral candidates from these institutions or programs conduct their research and doctoral studies in accordance with the Department of Economics’ doctoral regulations.
A completed Master’s degree in economics is the standard entry requirement. They expect advanced Master’s level knowledge in microeconomics, macroeconomics, and econometrics. For tuition details click here.
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University of Mannheim
One of the most esteemed economics schools in Europe is located in Mannheim.
The top positions Mannheim’s economics department holds in the CHE ranking, the QS World University Ranking by Subject, the Times Higher Education Ranking, or THE Europe Teaching Ranking are examples of the numerous rankings that regularly attest to the exceptional quality of research and teaching in a national and international context.
The University of Mannheim has a global focus. As part of the ENTER Research Masters program, Master of Economics students have the chance to earn a dual degree at a prestigious European partner university.
Excellent master’s degree holders may also apply directly to the Graduate School of Economics and Social Sciences (GESS) in Mannheim’s PhD in Economics program. Compared to a traditional combination of a master’s degree and a subsequent doctorate, this results in two-year time savings.
Leaders in a variety of scientific fields are their professors. The Department of Economics also collaborates with renowned businesses and organizations like the nearby Center for European Economic Research (ZEW), the German Monopolies Commission, and the Singapore Competition Commission.
A completed bachelor’s in economics or an equivalent degree with at least 180 ECTS credits, or six semesters of typical study time, is required for admission to the Master of Economics program. The academic record must have been evaluated with an average grade of at least 2.5 at the time of application (German grading system). For tuition details click here.
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University Of Bonn
The BGSE offers a two-year master’s degree in economics program as well as a two-year plus three-year doctoral program with an integrated master’s degree. Within the master’s program, students who want to pursue a doctorate can choose to specialize in economic research and then proceed with the dissertation stage.
You will graduate from the master’s program with a sophisticated understanding of contemporary economics that combines economic theory with cutting-edge training in econometrics and cutting-edge statistical software.
You will have the chance to use your analytical toolkit in a variety of research-oriented classes because you will be armed with the necessary mathematical and methodological foundations. Click here for tuition details.
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Technical University of Munich
One of the top faculties at the university is the Department of Economics at the Technical University of Munich.
Each year, the Department welcomes thousands of bachelor’s, master’s, and doctoral students who are interested in economics, finance, and business. For tuition, details click here.
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University of Göttingen
The Department of Economics (Faculty of Business and Economics) and the Department of Agricultural Economics and Rural Development jointly offer the English-language Master of Science in Development Economics (Faculty of Agricultural Sciences).
It expands on the well-regarded Master of Science in International Economics and Master of Arts in Agribusiness programs, which already had a strong focus on development-related issues.
A comprehensive four-semester program devoted solely to the study of development economics issues is now available through this research-oriented master’s program. For details about tuition, click here.
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University of Cologne
The University of Cologne’s Master of Economics program offers a research-focused curriculum with classes covering a variety of economic disciplines.
As a student, you have a lot of freedom in selecting the subjects you want to concentrate on. You can also decide to concentrate on various subfields or fields altogether. The primary subjects are:
- Market Behavior and Design
- Economic Policy and the Markets
- Data analysis and empirical techniques
- Environmental Change and Energy
You can conduct research projects thanks to the program’s empirical and analytical focus, which prepares you to analyze economic phenomena using cutting-edge research techniques.
You will be equipped to start a professional career in many private and public institutions that require economic expertise once you complete the program.
You can choose to continue your education by enrolling in a PhD program in economic research.
A large portion of the MSc Economics program is international in both content and presentation.
With a large percentage of international students from various backgrounds enrolling in the program, it offers an international study environment in Germany.
Additionally, a large portion of the faculty has an international background, having either grown up abroad or received their education abroad. For tuition details, click here.
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Humboldt-Universität zu Berlin
The Master of Science in Economics program aims to impart the knowledge and skills of a quantitatively oriented economist interested in workable solutions to economic issues in a world that is becoming more complex and challenging to categorize.
The two-year duration of the master’s degree program in economics is planned. By choosing the appropriate courses, a master’s degree program can serve as preparation for a doctoral degree program.
The Faculty regularly evaluates the courses to ensure that the offered programs can be completed within the typical period of study. This is something that the Faculty places a high priority on. For tuition details, click here.
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University of Hamburg
The environments that economists work in today are more complex and globally competitive. The Master of Science in Economics at Universität Hamburg effectively reacts to these changes.
The program, which is entirely taught in English, places a strong emphasis on quantitative abilities and cutting-edge approaches to empirical research. It promotes practical work, links it to policy, and gets students ready for the economic challenges and circumstances they will face in the real world.
The course offers thorough instruction in mainstream economics’ best practices. In-depth studies in areas of particular personal interest are optional for students to pursue, and they are meant to ease the transition into independent research.
Students who want to work in higher education, research, or consulting on both a national and international level should apply to this program. For tuition details, click here.
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University of Tuebingen
The M.Sc. in Economics builds on the faculty’s experience and standing in various areas of economics. It provides a great deal of flexibility and is their most adaptable economics program. This program is for you if you want to be able to select courses from the areas of economics that most interest you.
For societies to successfully navigate major future challenges like achieving sustainable growth and averting intolerable levels of economic inequality or unemployment, economic experts will become more and more crucial.
You have all the flexibility you need to create your unique academic profile and become an expert thanks to the wide selection of electives and field courses available to you.
After completing this program, you’ll be able to comprehend the forces behind significant economic trends and what they mean for businesses, employees, and governments.
You will learn the abilities needed to professionally analyze economic data and comprehend the reasoning behind economic issues. For tuition click here.
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Free University of Berlin
The following admission requirements must be met by applicants in order to be admitted to the master’s program:
A bachelor’s degree in economics or a degree equivalent with at least 50 credits in economics and at least 30 credits in mathematics, statistics, or econometrics is required.
Proof of your proficiency in English (level B2 CEFR) if the degree was not earned at an institution where English is the language of instruction and English is not the student’s first language.
All applicants whose first language is not German and who received their initial degree from a university (or equivalent institution) where the language of instruction is not German are required to take the DSH, or German Language University Entrance Exam for Foreign Students. For tuition, details click here.
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Heidelberg University
The macroeconomic focus on mathematical and statistical techniques is combined with contemporary economic approaches in Heidelberg (e.g. behavioral and experimental economics). Students can also learn more about related social science fields that are nearby.
There are 14 professorships at the Alfred Weber Institute for Economics, which is active in all fields of economic study. It is particularly evident at the global level in the fields of economic theory research, particularly in decision and game theory, experimental economics, and behavioral economics.
Additionally, there are specialized research areas in global commerce, development economics, and an independent environmental economics research center.
This diversity of research interests is reflected in the teaching, creating a learning and working environment that is focused on research. For details about tuition click here.
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University of Freiburg
Their two-year master’s of science (M.Sc.) in economics program develops broad analytical skills as well as the specific methods required to address issues unique to the profile that is selected, including those in finance, information systems, network economics, and politics and economics.
The master of science program emphasizes developing analytical skills rather than trying to cover every aspect of the subject because the instructors are of the opinion that in a rapidly evolving economic and business environment, what matters is the student’s capacity to recognize, organize, analyze, and deal with problems as they arise. For tuition click here.
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Technical University Berlin
The bachelor’s degree in economics program provides students with a depth of economic knowledge that helps them comprehend intricate economic relationships.
These fundamental scientific concepts aid in the identification of the direct and indirect effects of economic policies in today’s globally connected and highly globalized world. You will be introduced to methods for analyzing economic relationships step by step.
You will come across a variety of methodological content at the beginning of your studies, such as statistics, mathematics, and computer science.
Later on in your education, you’ll learn how to apply this fundamental knowledge to develop a thorough comprehension of interdisciplinary relationships and processes, with a focus on competitive analysis, the structuring and management of infrastructure markets, or the analysis of environmental economic issues. For tuition click here.
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Ulm University
This institution carries out research and imparts knowledge on a variety of economic issues and topics. Empirical research using data sets and experimental research into human decision-making behavior in collaboration with the computer lab ULESS are two particular foci of this institute. However, this institute also has a strong theoretical foundation thanks to its work in the areas of contract and auction theory.
Students can choose from a wide range of lectures, from fundamental introductions to topics like behavioral economics, information economics, and competitive strategy to specialized courses focused on applications like energy or environmental economics. For tuition details click here.
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Technical University Dresden
An extremely diverse selection of courses is offered by the Faculty of Business and Economics.
Two bachelor degree programs (Business and Economics and Business Education and Management Training), two diploma programs (Industrial Engineering and Business Information Systems), and three master’s degree programs are available for students to choose from (Business Administration, Economics, Business and Economics Education). For tuition details click here.
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Is Germany good for economics?
Germany is a top choice for international students who are interested in studying economics or business because of its robust economy and thriving business community.
German universities are highly regarded, there are no tuition fees, and the cost of living is reasonable, bringing in students from all over the world.
How much does it cost to study economics in Germany?
German public universities don’t have any tuition fees, which makes it a great place to study abroad. German MS in Economics tuition ranges from 265 to 6,703 euros per year.
Is Economics Taught in English in Germany?
The only language of instruction for all required courses and the vast majority of elective courses is English.
German is taught in a few electives, particularly those in business administration or health economics specializations.
How long does it take to study economics in Germany?
The BA in German and Economics program lasts four years.
Can I study in Germany without knowing German?
In a word, no! You don’t need to speak German to attend a German university as long as you can meet the minimum language requirements for the degree program you want to enroll in.
However, if you take into account courses that are taught in both English and German, you will have more options.
Which university in Germany is free?
Even the top universities in the nation’s public higher education system are free to attend in Germany!
Is Germany cheap for international students?
Germany not only offers free education, but it is also a reasonably priced nation. The average monthly cost of living for students, including housing, is between 700 and 1,000 EUR.
How do I become an economist in Germany?
In Germany, there are numerous ways to earn a “Business Economist” credential. For instance, you could attend a university, complete ongoing vocational training at a trade school or specialized academy, or pass a test for advanced training.
Can I study Bachelor in Germany in English?
Universität Freiburg is one of few German universities that offer a bachelor’s degree program taught in English, allowing international students to pursue either a Bachelor of Arts (BA) or a Bachelor of Science (BSc), depending on their major.
This is in addition to offering a variety of English-language master’s programs.
Does the university of Munich teach in English?
Over 100 English-language lectures and seminars are offered each semester by all 14 departments at HM Hochschule München University of Applied Sciences (HM).