If you’re already studying Health 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 Economics Programme Structure pages.
As student are largely free to chosse the subjects they wish to concentrate in, you can chooset to focus on different areas within and between fields, in line with the career you're aiming for: Economic Design and Behavior, Markets and Institutions, Microeconomics, Money and Financial Markets, Macroeconomics, Growth and Inequality, Public Economics, Statistics and Econometrics.
In a nutshell
Standard period of study: 4 semesters, full-time
Scope: 120 ECTS
Start: Fall term
Degree title: Master of Science (M.Sc.)
Language: English
Fees: Only Social fee (approx. 280€ per semester including ticket for public transport, see here for more information)
Application Deadline: 15 June 2021
Key Issues
On the origns of economic growth, international income differences, and inequality
How markets should be designed to achieve policy goals
How incentives and behavior shape optimal policies and institutions
Energy economics and climate change
How laboratory experiments help produce insights about behavior
Economics - Master of Science
To solve economic problems and create better institutions, you need to know how people react to incentives.
Apply Expertise
As student of economics in Cologne you benefit from a broad range of expertise in applied and theoretical economics, with an internatioanlly renowned faculty. In our teaching, we bring across both the theoretical foundations of economics, as well as the practical application of economic concepts to a range of pertinent policy problems. Our courses ans seminars bring you to the frontier of current research and polics decisions and allow you to specialize on various areas of expertise.
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?
International
Many of our courses are delivered in English. Our extensive number of cooperation agreements in the area of Business & Economics provides you with attractive options to spend a term abroad around the world. 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.
A diverse range of employment opportunities are available to graduates in specifically economicsrelated roles in public institutions such as government ministries, central banks, agencies and authorities (such as the EU Comission), international institutions (such as OECD, IMF or the World Bank). Research centres, universities and economics departments of private institutions (banks, consulting firms, large companies, associations or the media) are also potential emploxers. The M.Sc. in Economics widens the knowledge gained in your bachelor studies, giving you advanced expertise in your chosen field. For many managing positions in 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 biannual "semester contribution" of slightly more than 250 euros. This includes the "semester ticket" for public transportation throughout Cologne's home state of North Rhine- Westphalia. So, with us, you can invest in an excellent education - and your future - without paying a fortune.
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 submission of the test is not mandatory, but highly recommended.
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
We are currently revising the following contents. All current information will be available at the end of January 2021 at the latest.
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.
The application documents must be submitted to uni-assist 8 weeks before the application deadline. The documents will only be checked if the fee has been paid. The following documents are required:
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 diploma supplement
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) or Vietnamese bachelor’s certificates | original APS certificate| certified copies cannot be accepted!
Application and admission procedure
Information on the application process and deadlines can be found on the application website.
Current changes with regard to the Corona Pandemic are summarised here.
Standard period of study: 4 semesters, full-time | Start: fall term | Degree title: Master of Science The master's programe carries 120 ECTS credits and compromises a Core and Advanced Section, a Specialisation Section, a Supplementary Section and a Master Thesis.
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.
