Economics Osnabrück University

The Master's programme in Economics at Osnabrück University is offering students a broad-based education in economics whilst also providing them with opportunities for individual specialisation. The programme offers a wide range of advanced modules in fields as diverse as microeconomics, macroeconomics, public finance, international economic policy, statistics/econometrics, and environmental economics. Depending on their subject combinations, students will have the option of specialising in either Empirical Economics or Sustainability, Behaviour and Environmental Policy.
Empirical Economics
Modern economics is increasingly using empirical methods in its research. The School of Business Administration and Economics is particularly strong in this field, as the three chairs of macroeconomics, international economic policy and statistics/econometrics all follow an empirical approach and together make up the Institute of Empirical Economic Research. Our specialisation in Empirical Economics offers students research-based teaching, which provides them with both a solid methodological foundation in the fields of statistics and econometrics as well as a practical focus in their education in which they examine a number of key economic policy issues. One distinctive aspect of the programme is that students engage in independent empirical research and carry out their own statistical inferences, for example, in the context of a broader project seminar.
Sustainability, Behaviour and Environmental Policy
This specialisation is directed at students interested in understanding the connection between environmental issues, human behaviour and economics, in learning about potential policy approaches to address current environmental challenges, and who are looking to make a personal contribution to steering society towards greater sustainability in their future careers. The unique feature of this specialisation lies in its combination of environmental economics with findings from behavioural economics. The latter lies at the nexus between economics and psychology and goes beyond the traditional model of the "homo economicus" to open the way for a broader understanding of human behaviour, for example by accounting for constraints on rationality and willpower, for the role of values and social norms, and innovative political instruments such as so-called “nudges”. At the same time, environmental economics offers important insights into the role and design of economic incentive tools in environmental policy (e.g. CO2 pricing) and into the correlation between economic growth, emissions and environmental quality. Of course, the transformation to sustainability also requires students to possess a solid understanding of our economic system.

The standard duration of the Master’s programme in economics is four semesters. This equates to a course of study amounting to 120 credit points (CP), with 10 CP of mandatory courses, 90 CP of elective courses and 20 CP for the Master’s thesis.

Students are able to choose between two specialisations – Empirical Economics and Sustainability, Behaviour and Environmental Policy.

The mandatory component only consists of the module “Advanced Methods of Business and Economics” accounting for 10 CP. This module equips students with advanced skills in econometric analysis and the microeconomic analysis of business and economic issues, and demonstrates how these can be applied using concrete examples.

Out of a total of 90 CP in the elective component, students must take at least 60 CP in economics and quantitative methods and at least 10 CP in business administration. Students are free to select the remaining 20 CP either from among the economics modules, business administration modules or a different prescribed set of modules. Students are also free to select the modules in the elective component in such a way as to enhance one of their specialisations. The elective component offers students a high level of flexibility, enabling them to factor in their own interests and career plans as they progress through the programme.

Applicants must have completed a Bachelor’s degree in a relevant subject. For a subject to count as relevant, it must have covered a minimum of 60 ECTS credit points in economics, mathematics, statistics or econometrics, of which

• at least 25 ECTS credit points must be in economics and
• at least 15 ECTS credit points must be in mathematics, statistics or econometrics

Please note that in Germany, a distinction is made between economics (Volkswirtschaftslehre) and business administration (Betriebswirtschaftslehre): Economics studies how people and societies allocate scarce resources, focusing on the "big picture" of the broader economy and on policy design from the societal perspective. By contrast, business administration focuses on the specific management of a single organisation, teaching the skills needed to plan, organise, and manage the day-to-day operations, resources, and people within a company.

Therefore, it is not recommended to apply with a Bachelor's degree in Business Administration, Accounting, Finance, Commerce, Management or Marketing as the minimum requirements specified in the admission regulations with regard to quantitative methods and economics are not met in most cases.

Applicants may apply to the programme before completing their Bachelor’s degree if they provide proof that they have completed at least 150 ECTS credit points.

International applicants with foreign certificates must apply via uni-assist.

All applications must include the following documentation:

• Bachelor's degree certificate or transcript of records of at least 150 ECTS credit points in economics or related fields
• proof of English language proficiency
• course descriptions (module catalogue)
• Declaration
  (i) that a similar Master's has not yet been achieved and
  (ii) that a similar Master's programme has not been failed, or the right to examination has not been lost

Further information, including the admissions regulations in German, can be found on our course website.

Each semester, students are required to pay approx. 350 EUR as a semester fee (including free use of regional public transport services).

In order to cover personal expenses during the study programme, we recommend that students budget at least 860 EUR per month for accommodation, living, health insurance, books, and miscellaneous expenses.

Students who have completed their Bachelor's studies may be employed as student assistants.

The accommodation office of the student services ("Studentenwerk") offers modern single rooms in dormitories and helps students find private rooms and flats. The rooms must be rented for at least half a year. The cost of a single room in a student dormitory is approx. 180 to 350 EUR per month.

Osnabrück University is a dynamic place to study, offering a broad range of courses with strong research and quality credentials. The university is an integral part of Osnabrück − the City of Peace, a vibrant city that is rich in tradition and culture. Founded in 1974 alongside numerous other higher education institutions, Osnabrück University soon positioned itself in the German higher education landscape as a medium-sized university with the ability to attract the best brains and to secure sufficient financial resources. Employees appreciate the university’s family-friendly atmosphere.

High standards in academic supervision and support

The university offers 181 attractive, cutting-edge degree programmes. The wide range of subjects comprises future-oriented Bachelor's and Master’s programmes in

• Social Sciences and Human Sciences
• Mathematics, Computer Science, Natural Sciences
• Law and Economics
• Language, Literary and Cultural Studies
• Theology, Art, Music, Sports

The programmes prepare graduates excellently for the national and international labour market, offering them outstanding job prospects. The 14,000 or so students currently enrolled at Osnabrück University agree on the following:

• It is easy for new students to find their way around campus and the city of Osnabrück.
• Teaching staff are ready to listen.
• The degree programmes offer a wide range of interesting options.
• They enjoy studying here.

Osnabrück University attaches great importance to supervising and supporting its students. A total of 1,000 professors, lecturers, research assistants and research fellows teach and do research across nine schools.

A university in the heart of the city

A special feature of Osnabrück University is its location: many of its buildings are in the immediate vicinity of the historic old town, and are easy to reach on foot or by bicycle. This is where the Humanities and Social Science subjects and Psychology are located. The President’s Cabinet and the administration are housed in the former prince-bishop’s castle. Its bold yellow façades make the castle a hallmark and flagship of the university. The Natural Sciences – Biology, Chemistry and Physics – are located on a rapidly developing, attractive campus in the Westerberg district, alongside Mathematics, Computer Science, Cognitive Science and Environmental Systems Science. A stroll through Osnabrück University Botanical Garden, itself a teaching and research institution, provides a relaxing break.

Osnabrück, which has around 164,000 inhabitants, is the third-largest city in Lower Saxony. The image of the 1,200-year-old diocesan town is strongly shaped by the over 25,000 students who attend Osnabrück University or Osnabrück University of Applied Sciences. The medieval Old Town, featuring restored timber-framed houses, is a unique backdrop to the city’s gastronomy and art trade. Just a few steps away, modern shopping centres invite passers-by to browse and shop. Cities such as Hanover, Hamburg, Amsterdam and Berlin are within easy reach by car or train. Osnabrück is situated at the intersection of important junctions running from north to south and east to west (the A1, A30 highways). Münster-Osnabrück airport is just a 30-minute drive away. In Osnabrück, the most popular means of transport is the bicycle. The city also has a highly developed public transport network. The charming surroundings of Osnabrück are well worth a visit.