Economics / Volkswirtschaftslehre Otto von Guericke University Magdeburg

This research-oriented Master's programme conveys the necessary skills for students to analyse complex economic problems, issues, and policy solutions on their own, with the help of advanced empirical methods, analytical research skills, and theoretical models.

The policy-oriented programme focuses on theoretical and empirical analyses of economic policy measures in different areas, such as trade, the environment, the labour market, and social policy. Tools studied and applied for this purpose include both traditional theoretical analyses, advanced empirical methods for evidence-based policy analysis, and behavioural economic analyses, such as laboratory experiments.

The student body is multinational, and takes a strong theoretical and quantitative approach.

The Economic Policy Analysis degree programme qualifies graduates for management and specialist tasks in all areas of national and international public organisations and private companies as well as in university and non-university scientific institutions. Graduates are particularly qualified for jobs and positions in all areas in which economically relevant policy measures are decided upon, conceived, or analysed (such as ministries, economic research institutes, associations, economic analysis departments in companies, and economic university institutions).

Furthermore, our graduates will be excellently prepared for admission to a doctoral programme in economics.

This Master's programme offers a professional economic qualification at a graduate level. The foundation of this programme consists of modules in quantitative methods, microeconomics, and macroeconomics as well as evidence-based policy analysis.

Especially the seminars in specialisation (second and third semesters) enable students to understand the complex institutional and social framework conditions of economic and economic-political research and to incorporate these in scientific analysis and problem-solving.

Programme Structure:
Compulsory modules = Econometrics, Microeconomics Analysis, Macroeconomics Analysis

Compulsory elective modules for specialisation, including two seminars or a seminar and a scientific project, will prepare students for the Master's thesis research and writing.

Supplementary modules may be chosen for being even more flexible in the field of specialisation of each student.

The final semester is reserved for the module Master's thesis and seminar. Here, candidates must demonstrate their ability to independently research a selected topic using scientific methods in order to be successful.

During the study programme, students have to expect a weekly workload of approx. 20 hours of classroom studies and at least 20 hours of independent studies. Master's studies include lectures to learn new concepts, tutorials to foster discussions and practice techniques, and seminars to apply theories and methods to an assigned project. The seminars include an academic paper plus a presentation, and they prepare students for the Master's thesis.

Students must be able to work independently on an academic level. This study programme is theoretical and mathematically oriented in an analytical manner. The knowledge of statistical methods and applications is highly important.

Module descriptions

IWH – Halle Institute for Economics Research

There are no integrated internships. However, students are encouraged to complete a self-organised, voluntary internship at the end of their studies. The faculty believes it is valuable to gain professional experience within German and international workplaces. Internships must be organised independently. Furthermore, AIESEC, Enactus, and additional student organisations, as well as the University Career Service, can provide opportunities and support.

The study programme is designed for students with an educational background in economics. Prospective students should have an interest in economic issues relating to economic policy and have advanced knowledge of quantitative methods in mathematics, statistics, or econometrics.

Applicants must provide proof of a relevant academic degree in economics (Bachelor's, "Diplom", etc.) from a university recognised in Germany with a GPA from 1.0 up to 2.9 (according to the German grading system). A degree is considered relevant if a minimum number of credits were obtained in economics, business administration, and quantitative methods modules. Detailed information regarding admission requirements (i.e. relevant degree, letter of motivation, and proof of English skills) is available on the study programme's website:
EPA Details and Requirements.

Currently, the semester fee is 311.30 EUR. It covers services offered by the "Studentenwerk" (student union) and the student representatives. Enrolled students receive the "Deutschlandsemesterticket" for free use of public transport throughout Germany, along with student discounts in the campus cafeteria and more.

A minimum of 992 EUR per month must be budgeted for accommodation, cost of living, health insurance, books, and miscellaneous expenses. In comparison with many other towns and cities, the rental prices in Magdeburg are still relatively low. There are no tuition fees for the majority of programmes, and the semester fee already includes the cost of bus and tram travel within Magdeburg. The following link provides a fair picture of the cost of living in Magdeburg: Finance.

It is possible to find a part-time job as a research or student assistant at one of the faculties or in the university administration (maximum: 80 hours per month). Other opportunities are student jobs at different companies, restaurants, and shops. Information on how to find a job can be found on our website: Career Service.

Our Career Service Centre provides on-campus workshops as well as a job and internship search portal. A semi-annual job fair on campus is offered exclusively for students.

The "Studentenwerk" (student union) in Magdeburg manages the on-campus halls of residence (mostly one- to four-room apartments). Currently, the monthly rent ranges from 200 EUR to 500 EUR per room (approx. 12 to 35 square meters), depending on the size and furnishing. Rooms in the halls of residence are limited in number. The accommodation application can be found on the website of the Studentenwerk.
The Studentenwerk assists all new students in finding adequate accommodation, either on or off campus. Private accommodation is available on the Magdeburg accommodation market. However, fully furnished units are in somewhat short supply.

Otto von Guericke University Magdeburg (OVGU) was founded in 1993 and is one of Germany's youngest universities. It was formed by a merger of the existing technical university, the teacher training college, and the medical school. The university now comprises nine faculties and about 12,600 students and is becoming increasingly more important as a centre for education and research. It plays an important role in the regional capital of Magdeburg, which is developing into a centre for business, scholarship, and culture. The university is a member of many organisations and committees. It is named after Otto von Guericke (1602 to 1686), Magdeburg's famous citizen, whose pioneering research into the vacuum brought him renown well beyond Germany's borders. The university aspires to teach and research in the tradition of this great scientist, philosopher, and engineer and to continue with his humanist work.

At the Otto von Guericke University Magdeburg, students can choose from more than 100 study programmes in various areas of study and specialisation. There are also many possibilities to combine different subjects across faculties. To open up to qualified students from all over the world, the Otto von Guericke University is vastly expanding its offers of programmes taught in English. The conditions for students are ideal, with modern laboratories, experimental workshops, and clinics equipped with high-performance computers and an excellent staff-student ratio. The offer of a sound, thorough education, combining a high level of theoretical expertise with practical experience, makes Magdeburg an attractive choice.

In recent years, research at the university has gone through a decisive change, from applied research to innovative, fundamental research. Among the many areas represented, the neurosciences, immunology, non-linear systems, new materials, processes and products, computational visualistics, social transformation, communication, and culture deserve a special mention. The university hopes to make a significant contribution to economic and social development in Magdeburg and the surrounding area through its research. Equally, disciplines such as humanities, economics, and management, which have been established more recently at the university, have already made their mark on our research profile. Special emphasis is placed on close cooperation between teaching staff and students.

The Otto von Guericke University is a proud member of the European University Alliance EU GREEN, which is aiming to be your gateway to sustainability. Together, we aim to be a broad European hub for education, research and innovation in sustainability that goes beyond the consortium borders and acts globally to provide solutions to local or regional challenges, which can be replicated at a global level.

Magdeburg also attracts students because it offers accommodation with either a single bed or twin beds in its halls of residence.

Take a virtual trip through our international campus!

As the capital of the federal state of Saxony-Anhalt, Magdeburg is the seat of the state parliament and administration. The town is more than 1,200 years old and has about 242,000 inhabitants. Its excellent location on the River Elbe and its proximity to Berlin, Hanover, and Leipzig have proven to be a significant asset to the city. In the 19th century, the town developed into an important industrial and trade centre. Nowadays, another quite distinctive feature of Magdeburg is its considerable research and innovation potential at the university, the Max Planck and Fraunhofer research institutes, and the university of applied sciences, which are all located in close proximity to each other. Magdeburg offers an extensive park and garden landscape, a rich cultural and sports life, and an ideal atmosphere for being a student. Please visit the website: www.magdeburg.de.