Master of Science in Quantitative Decision Making in Economics and Management (QDEM) Johannes Gutenberg University Mainz

The degree programme in “Quantitative Decision Making in Economics and Management” covers three subject fields that are complementary to each other. These are Econometric Methods, which includes statistical and econometrical methods of data analysis, operations research, data science, machine learning and data science, and Economic Behaviour & Strategy, which encompasses the scientific foundations of psychological, social and behavioural strategical interactions, economic decision-making and game theory. Through the combination of these course contents, students will be qualified to analyse and solve individual, social, and corporate strategic decision-making problems by employing a data-based approach and by utilising different analytic methods.

During the programme, students acquire a solid overview of the three subject fields (econometric methods, management science & business intelligence, and economic behaviour & strategy) in the core modules. Through the elective modules in the subsequent specialisation phase, students obtain a deep theoretical and methodological understanding as well as practical skills, which qualifies them to employ relevant methods and to provide a critical interpretation of their results in a wide spectrum of decision-making situations. Students will be able to work in groups and elaborate on different problem-solving approaches. In addition, they will have the capability of presenting the knowledge obtained to a wide variety of audiences, such as experts and the general public.

The Master of Science “Quantitative Decision Making in Economics and Management” (QDEM) is a modular programme, comprised of 120 Credit Points (CP). Typically, modules are 6 CP and students enrol in 30 CP each semester. These are divided into the following five parts:

• Fundamentals (Semester One; 30 CP): The methodological foundations are conveyed in five core modules, upon which the further phases of the programme are built: Mathematics/Statistics, Programming, Advanced Econometrics, Operations Research, Economic Decision Making.
• Academic Skills (Semester Two; 6 CP): Advanced methods of academic work will be taught in small groups. Additionally, students will attend one course on personal development.
• Specialisation (Semesters Two and Three; 42 CP): Students can choose up to seven specialisation modules from the three subject fields (i) Econometrics, (ii) Management Science & Business Intelligence and (iii) Economic Behaviour and Strategy. Also, two modules from the free part can be chosen.
• Research module (Semesters Two and Three; 12 CP): Students attend two applied project seminars either in one of the three subject fields or in two different subject fields.
• Master's thesis and Research Colloquium (Semester Four; 30 CP)

The lessons are held in the form of lectures, tutorials, small groups and project seminars.

A Bachelor’s degree is required, consisting of six standard semesters of study. Candidates should have completed a minimum of 18 ECTS credits in management or economics, along with 19 ECTS credits in mathematics, statistics, econometrics, or quantitative empirical methods. If the degree has not been completed yet, applicants can still be considered for admission if they have obtained at least 135 ECTS credits in a Bachelor's programme designed for six semesters, awarding a total of 180 ECTS credits as per the European credit point system at the time of application.

Online entrance test: Comprised of a 90-minute-long multiple choice test, to assess students understanding of the foundational topics of the programme:

• mathematics (analysis, linear algebra, stochastic)
• statistics (descriptive statistics, estimation and hypothesis testing)
• microeconomics (basic concepts, game theory and information economics)
• basic knowledge of computer science (simple algorithms)

The content is typically covered in obligatory modules of a Bachelor’s degree in economics and management. You can find more information about the test and sample questions on our website and here.

The Johannes Gutenberg University Mainz charges an administrative fee of approximately 350 EUR per semester. This fee includes the "Deutschland-Ticket" for public transport, enabling free use of regional trains, buses, trams, and the underground throughout Germany at any time. More details can be found here.

Costs for student housing vary between 350 EUR and 500 EUR (check here and here for more details on accommodation).

The price for a lunch on campus is around 3 to 6 EUR. The German Academic Exchange Service also offers information on the cost of living in Germany. Please check here for further information.

The Rhine-Main area offers a rich array of job opportunities both in the private sector and in public institutions. Particularly successful students may also qualify for part-time jobs as research assistants or tutors.

The career service centre at Johannes Gutenberg University supports students and graduates in choosing a career, planning their professional future, and acquiring interdisciplinary skills. The centre offers a variety of services, such as counselling, workshops, and recruiting events. More information is available here.

Numerous shared houses or apartments as well as rooms in student housing make life affordable and allow getting in touch with other students. More information is available here.

With approx. 30,500 students from more than 120 nations, the Johannes Gutenberg University Mainz ranks among Germany's largest universities and is the scientific and academic centre of the state of Rhineland-Palatinate. Its 4,400 academics, including 570 professors, teach and conduct research at more than 100 institutes and clinics.

Solid placements in rankings of higher education institutions, numerous awards and a large number of projects supported by outside funds testify to the outstanding research achievements of the university's scientists.

Students have a wide range of subject options, covering almost the entire spectrum of university specialities: from the study of law and economics to the social sciences, humanities, and natural sciences and from medicine and dentistry to the integration of music, fine arts, and sports. The Department of Translation, Linguistics, and Cultural Studies trains translators and interpreters in numerous European and non-European languages. This multiplicity of fields enables and promotes interdisciplinary research and teaching at the Johannes Gutenberg University Mainz.

The Johannes Gutenberg University Mainz was originally founded in 1477, and it still strives to emulate the innovative spirit of its namesake, Johannes Gutenberg. The promotion and introduction of new ideas, the use of knowledge to improve people’s lives and encourage them to overcome the many boundaries they encounter daily – these are the underlying ambitions of the Johannes Gutenberg University Mainz.

In its everyday life, Mainz, as the state capital of Rhineland-Palatinate, proves that tradition and progress can mingle successfully. Looking back on a history spanning 2,000 years, Romans, electors, and personalities such as Barbarossa and Gutenberg have left their mark on the modern city of Mainz. Today, Mainz stands for cosmopolitanism and conviviality. Located on the River Rhine in one of Germany's most picturesque regions, the city of Mainz provides a pleasant background for student life, while the proximity of Frankfurt facilitates contacts with renowned public institutions and private firms.

Mainz always has an "open ear" for culture, and not only because the well-known Whitsun festival with theatre, music, and cabaret bears this name. State theatres, small stages, and other cultural centres provide a lively and varied array of offerings for all tastes. New and experimental forms of theatre are presented at the "studio theatre" (Kammerspiele), while the historic Moller building in the centre of the city presents opera, theatre, and ballet.

The state capital is furthermore a vital location for business, including many media companies such as the German Television ZDF (Zweites Deutsches Fernsehen), which promotes the image of its home town across Europe on a daily basis. Extensive wine-growing areas on the edge of the city are enticing places for a relaxing walk in the vineyards. Other delightful surrounding areas offer a wealth of opportunities for day trips: the charming Rheingau region with its famous monasteries such as Eberbach situated in the hills, a romantic boat trip on the Rhine, or a short tour through the splendid landscapes of the Hunsrück, Odenwald, and Taunus ranges of hills.