Economics of Global Risk (EGR) Justus Liebig University Giessen

Globalised economies are exposed to globalised risks. Financial crises, climate change, wars and geopolitics, or the spread of pandemics threaten globally integrated economies. All of these disruptions are global in nature. Households, firms, and policymakers must address risks that are no longer confined to national borders.

The MSc Economics of Global Risk is taught by research-active professors and provides both theoretical and practical in-depth knowledge of economic concepts related to global risks such as financial crises, climate change, geopolitical instability, and pandemics. Beyond lectures and seminars, you will take part in research projects that address real-world risk scenarios from an early stage. Addressing global risks requires professionals who combine economic expertise with strong quantitative skills and insights from related fields such as international politics, development studies, and international law. This programme prepares students to understand and navigate an increasingly uncertain global economy. Graduates are well-equipped for careers in government, NGOs, multinational corporations, and research institutions.

The core courses are in Economics. Students can choose additional courses from related disciplines such as business studies, political sciences, law, and agricultural studies. The Faculty of Law, the Faculty of Social Sciences and Cultural Studies, the Faculty for Agricultural Studies, and the Center for International Development and Environmental Research (ZEU) at JLU Giessen cooperate with the programme.

The structure of the programme is defined by the study and exam regulation, containing detailed descriptions of the contents and goals of individual modules as well as definitions of the type of and requirements for individual assessments in the modules and the final examination for the programme. These regulations also define the available credits for each module and the required hours for the completion of the programme.

The programme comprises three study blocks, and each consists of different modules. In addition to the compulsory 120 ECTS, you can take optional extra courses amounting to 18 ECTS.

In the first three semesters, you will take five modules of six ECTS each. In the fourth semester, you will write your thesis (30 ECTS). However, you can be flexible with your programme in terms of the duration of your studies, as you have a total of eight semesters to complete your degree.

The Major consists of 60 ECTS, including seven compulsory modules and three compulsory elective modules.

• In addition to the "Trade Policy and Global Supply Chains", "Risk and Open Economy" and "Advanced Econometrics" compulsory modules, students must complete two research projects and two seminars within the Economics of Global Risk area.
• During the compulsory seminars, students will engage with important contemporary topics that are foundational to the degree programme.
• The two compulsory research projects may involve participating in ongoing research or learning to use software applications.
• Students also have a wide choice of three compulsory elective modules. This allows to set individual priorities and prepare optimally for the career entry.

The Minor comprises a total of 30 ECTS.

• In the Minor, students can choose modules from the list of compulsory elective modules in the Major and from other areas of business studies and economics.
• The students also have the opportunity to enrol in Master's modules from other disciplines amounting to maximum 12 ECTS. Alternatively, an internship equivalent to six ECTS can be completed, or other modules on cross-sectional topics such as Gender & Diversity or Business English can be taken. Within these 12 ECTS, ungraded achievements can also be included.

The thesis module (30 ECTS) concludes the Master's programme. The Master’s thesis should demonstrate that the student is capable of independently treating a defined research subject. When registering for the thesis module, the students must have successfully completed modules worth at least 60 ECTS and a seminar module.

• Faculty 01 – Law
• Faculty 03 – Social Sciences and Cultural Studies
• Faculty 09 – Agricultural Sciences, Nutritional Sciences and Environmental Management

Application for enrolment starts

• for applicants with a German Bachelor's: 1 June
• for applicants with an international Bachelor's degree: 1 May 

Application deadline: 15 June

For admittance to the Master's programme, applicants need to fulfil the following admission requirements:

• Professionally qualifying German or equivalent foreign university Bachelor’s degree in economics or business studies or other Bachelor's degree with a share of at least 40 credit points (ECTS) in economics and 15 credit points (ECTS) in mathematics, statistics, or econometrics.
• Proof of English skills (see below)

403.43 EUR (summer semester 2026, varies slightly with each semester)

The current semester contribution can be found here: https://www.uni-giessen.de/en/org/admin/departments/b/5/studoffice/sc.

Approximately 900 to 1,000 EUR 

If you come to Germany from outside the EU or the European Economic Area (EEA), you will be required to present proof of financial resources already when you apply for a study visa. This serves as a guarantee that you can afford the cost of studying in Germany. Currently (as of 1 January 2025), you must prove that you have 992 EUR per month at your disposal, such as through a blocked account, proof of parental income or a recognised scholarship. For further information, please contact the German Embassy or Consulate in your country.

Giessen offers moderate living costs while being close to Frankfurt, a big city. Students can calculate about 400 to 500 EUR on average for rent, 150 to 200 EUR for food, 130 to 140 EUR for German statutory health insurance, and the remainder for leisure, travel, and other expenses.

• Partial scholarships for international students at JLU in the closing phase of their degree: Partial scholarships are possible for three to six months and range between 300 to 450 EUR per month. More: https://www.uni-giessen.de/en/international-pages/study/grants/closingphase

• DAAD scholarships for more equity and opportunity: Possible funding duration of one to six months, ranging from 300 to 450 EUR per month for students who face special challenges during their studies (a disability, a chronic illness, a refugee background, single parenting and those caring for close relatives in Germany). More: https://www.uni-giessen.de/en/international-pages/study/grants/equalopportunities

Career Service and special opportunities for international students: www.uni-giessen.de/en/faculties/research-centers/zfbk/career_services/

The cost of accommodation in Giessen ranges between 400 and 500 EUR/month on average. Students usually live in halls of residence provided by the Student Union (Studierendenwerk Giessen) or in shared flats from the private housing market.

Accommodation in the halls of residence is available between 240 and 420 EUR per month. The rooms are fully furnished and equipped with gas, electricity, warm water and internet. Students may apply for a spot in the halls of residence or search for private accommodation, ideally three to four months before starting their studies.

More information via www.uni-giessen.de/en/international-pages/study/around-gi/accommodation/where-to-live-in-giessen

Founded in 1607, Justus Liebig University Giessen (JLU), Germany, is a comprehensive university with a longstanding tradition which attracts around 25,000 students. JLU offers the full range of traditional and modern subjects with top-level teaching and research — extending from classical natural sciences, law and economics, social and educational sciences, linguistics and cultural studies to a unique selection of life science subjects such as human and veterinary medicine, agricultural, environmental and nutritional sciences and food chemistry. The leading personae who carried out research and taught at JLU include a number of Nobel Prize winners, such as Wilhelm Conrad Röntgen (Nobel Prize for Physics in 1901) and Wangari Maathai (Nobel Peace Prize in 2004). Since 2006, research at JLU has received continuous funding from the Excellence Initiative schemes and the Excellence Strategy of the German Federal Republic and Federal States.

With around 94,000 inhabitants, Giessen has one of the highest student densities throughout Germany. Four higher education institutions with altogether 40,000 students provide a unique university-town atmosphere. The city offers plenty of leisure options for students, such as canoeing on the Lahn river, walks and picnics in its multiple green areas, cinemas with student concession tickets, the municipal theatre with a programme consisting of plays, opera and ballet as well as swimming pools and sports facilities, and a variety of pubs, restaurants and night life venues. The great thing about Giessen is that it's an easy place to navigate and, when the mood takes you, to escape into the picturesque surrounding countryside or the metropolis of Frankfurt am Main, which is about 60 kilometres away.