Economics (MSE) FAU Erlangen-Nürnberg

The Master of Science in Economics (MSE) is a modern, internationally-oriented Master’s degree programme that provides students with profound knowledge of economics. It is aimed at students with a strong interest in applied economics seeking a first-rate education, preparing them for a wide variety of career paths.

A special focus of the programme lies on modern methods of data analysis. All core subjects and a wide range of electives are taught in English.

Students can specialise and participate in courses across five fields of specialisation:

• Labour Economics: Students explore the area of labour economics from different perspectives. They study theoretical models, delve into current empirical work on labour market issues, and learn how to apply empirical research tools to examine labour market policies.
• Macroeconomics and Finance: This field of specialisation contains macroeconomics, applied econometrics and finance. Included courses cover topics such as monetary policy, international economics, or banking, and methods such as time series econometrics or macro modelling. The field prepares for jobs at central banks and commercial banks, international organisations, and academic research.
• Public Economics: This field of specialisation is focused on the analysis of tax systems and government expenditures, public finance and public policy as well as regional, urban and development economics. Students apply microeconomic theory together with modern methods of data analysis to evaluate a variety of policies.
• Energy Markets: This field of specialisation considers relevant aspects of energy markets, such as market design, energy transformation towards a low-carbon system and climate policies. These issues will be addressed not only from a theoretical perspective but also using empirical methods, such as computational, econometric, and behavioural/experimental approaches.
• Health Economics: Students who specialise in this field study the supply and demand for medical services from a microeconomic perspective. Students explore a variety of markets in the health sector to learn how to optimally design a health care system.

The MSE is a two-year programme split into four teaching semesters. For graduation, students are required to earn a total of 120 ECTS. In the first semester, the students obtain an education providing a solid background in all major fields of economics. The six compulsory courses (all taught fully in English) comprise Mathematics for Economists, Applied Econometrics, Microeconomics, Game Theory, Macroeconomics: Economic Theory, and Macroeconomics: Business Cycles.

In the second and third semesters, students choose 12 courses, including at least 10 economics electives and up to two free electives, such as language courses. By selecting a combination of electives, students can specialise in different fields. These include Labour Economics, Macroeconomics and Finance, Public Economics, Energy Markets, and Health Economics. Participation in at least one seminar is mandatory.

In their final semester, students write a Master's thesis. In doing so, students demonstrate their ability to address an economic question or topic independently. They then present and discuss their theses in a related seminar.

The programme also supports students who want to collect up to five credits via an internship at one of our selected partner institutions, including several research institutes located all over Germany. The programme collaborates with the Competence Centre on Behavioural Insights (CCBI) at the European Commission’s Joint Research Centre (JRC) in Brussels. MSE students have the opportunity to gain hands-on experience at the intersection of behavioural science and policy through a three-to-four-month internship at the CCBI.

• Bachelor's degree with GPA no lower than 2.49 according to the German grading system
• At least 40 ECTS in economics and quantitative courses combined (not counting business or finance)
• Evidence of sufficient English skills (at least the B2+ level of the CEFR, details below)
• A letter of application in English of no more than two pages (font = Arial, font size = 11pt, line spacing 1.5, page margins > 2cm, maximum 800 words, file format = PDF) outlining your qualifications relevant for the study programme, with particular emphasis on your preparedness for the compulsory modules and the specialisation(s) you plan to focus on

FAU does charge tuition fees for students from non-EU states. Using the fee finder, you can quickly check whether you are required to pay tuition fees. Irrespective of tuition fees, all students are required to pay a semester contribution of 82 EUR per semester. As of winter semester 2026/27, FAU will be charging a processing fee of 100 EUR per application for applicants from non-EU states. 

General guidelines on the average costs that can be expected are provided by the results of the social survey undertaken by the German National Association for Student Affairs in 2021 (prices may vary):

According to this study, students who no longer live with their parents should have an average amount of 1,106 EUR per month at their disposal. However, monthly expenditures for personal lifestyle vary a lot. For former West Germany, the study revealed the following details on average expenditure:

• Rent, including ancillary costs (in Erlangen, Nuremberg and surrounding areas): 410 EUR
• Food: 198 EUR
• Clothing: 46 EUR
• Travel costs (public transport and/or car): 89 EUR
• Study materials (depending on subject): 31 EUR
• Health insurance, doctors, medicine: 100 EUR
• Telecommunications: 31 EUR
• Leisure, culture, sports: 65 EUR

According to a study by the German National Association for Student Affairs, around 63 percent of all "first-time students" have a regular job — and not just during the holidays. On average, they work around eight hours a week for an average wage of 13 to 16 EUR per hour. Students can have a "600 EUR job" or work as a student trainee in a company or as a student assistant in the university — both during and outside the lecture period. Information on the legal conditions relating to part-time jobs for students is available in the brochure "Jobben" (part-time jobs) published by the German National Association for Student Affairs. FAU’s job portal is also updated regularly with new advertisements for part-time jobs.

There is a wide range of scholarships available for outstanding students. In addition to requiring applicants to have excellent grades, most scholarship programmes have additional conditions regarding cultural, political, religious, or social involvement. If you have any questions about the application procedure or selection criteria, you can contact the Student Advice and Career Service (IBZ) or speak directly to FAU’s liaison officer for the scholarship organisation you wish to apply to.

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Our diverse range of professional events and consultation services for members of all of FAU’s faculties are designed to support students, graduates and doctoral candidates when planning and starting their careers. This service is available for up to one year after graduation.

The services we offer include career guidance and advice on applying for jobs, job application training, and seminars as well as presentations and information on specific careers.

The cities of Erlangen, Fürth, and Nuremberg offer a very good standard of living. They are popular places to live, meaning that accommodation is in high demand but often in short supply. This is particularly the case during the period before the start of a new semester. We therefore recommend that you start looking for accommodation as soon as possible. If you are flexible and also look in the surrounding area, you will have a better chance of finding somewhere affordable to live. The region has an excellent public transport system, so you should not have any problems getting to your place of study or work.

It is worth checking the available accommodation on the Internet every day, as new accommodation becomes available on a day-to-day basis. It pays to be flexible when it comes to the price, location, and available facilities of your accommodation.

Student Services Erlangen-Nürnberg runs its own student accommodation in Erlangen and Nuremberg. You will be informed about how to apply for a room in Student Services accommodation while you are in the process of applying to be admitted to FAU.

Founded in 1743, Friedrich-Alexander-Universität Erlangen-Nürnberg (FAU) is now one of the largest research universities in Germany with 39,865 students and 278 degree programmes. The five faculties cover the entire spectrum of modern academic disciplines — from humanities, social sciences and theology to medicine, law, economics, sciences and engineering.

One of FAU’s defining features is its commitment to interdisciplinary teaching and research, which frequently goes beyond the boundaries of individual subjects.

FAU’s outstanding research and teaching are reflected in top positions in both national and international rankings as well as the high amount of DFG funding that its researchers are able to secure.

FAU is based in three cities — Erlangen, Fürth and Nuremberg. Each of the FAU campuses is closely connected to the social and economic pulse of these cities. Studying and city life at FAU go hand in hand, so much so that it’s hard to tell city and campus life apart.

"Moving Knowledge" is our motto and guiding principle at FAU. Therefore, we strive to generate knowledge to shape the future responsibly and openly share knowledge with all stakeholders in society to drive prosperity and create value. We also use knowledge to improve our world for future generations.

FAU’s two main sites, the cities of Erlangen and Nuremberg, are located at the heart of the Nuremberg Metropolitan Region, one of the most prosperous and successful regions in Europe. Both Erlangen and Nuremberg have their own unique charms. Erlangen is a city of 100,000 inhabitants, was the former home of the Huguenots, and it is a key location for Siemens. Nuremberg is a city with a metropolitan flair and a population of half a million. The opera, theatre, and museums, along with a lively pub scene and nightlife, offer plenty of opportunities to relax after a day in the lecture theatre, lab, or library. The highlights of the cultural calendar in Erlangen include the "Hörkunstfestival" (acoustic art festival), International Comic Salon, "figuren.theater.festival" (puppet theatre festival), "Poetenfest" (poetry festival), and the "ARENA… of the young arts" theatre and performance festival. A wide range of cultural institutions open their doors to visitors during the Blue Night in Nuremberg, and once every two years, the Long Night of Sciences gives the public a chance to take a look inside research institutions in Erlangen, Nuremberg, and Fürth. In summary, the mixture of academia, innovative companies, art, and culture makes the region the perfect place for creative minds. There is also plenty on offer for keen athletes and nature lovers. Fränkische Schweiz, a paradise for climbers and walkers, is located to the north of Erlangen and is at FAU’s doorstep. Water sports enthusiasts will love the Franconian lakes and the university’s water sports centre, which is located just south of Nuremberg.