Financial Economics (FINEC) Otto von Guericke University Magdeburg

At the heart of this programme are issues relating to the financial sector, capital market theory, operating principles, and regulations of the banking and financial markets as well as empirical market research. This Master's programme is part of the International Study Programme (ISP Page Flow) and enables students to recognise and analyse economic problems on an academic and global level. Prospective students must consider that the FINEC study programme takes a strong theoretical and quantitative approach.

Students will gain skills to conduct self-directed research relating to economics and finance. They will complete practical projects while applying specialised research methods, independently develop solutions for scientific questions, and learn about the ethical and moral foundations necessary for business management worldwide.

The programme builds upon strong and advanced knowledge in economic theory, econometrics, and quantitative methods for finance. Students gain professional skills for challenging future careers in the private and public sectors of economies worldwide as well as for academic research endeavours (e.g. doctoral programmes).

Learn more about our Master's study programme on the FINEC website.

Module Descriptions

The programme includes a wide range of compulsory modules 45 ECTS (credit points) in the first two semesters. Mandatory modules on an advanced level include the following: Financial Engineering, Financial Institutions, Behavioural Finance, Finance, Stochastic Processes, Foundations for Finance, Microeconomic Analysis, Macroeconomic Analysis, Econometrics, and Company Evaluation.

This programme is highly quantitative-oriented and builds upon the students' strong knowledge of analytical and mathematical methods. Additionally, fluent and advanced academic English language skills at a minimum level of C1 are a precondition for this programme and for successful studies.

After mastering the compulsory studies, students may specialise by completing elective courses (45 credit points), including a seminar and a scientific project. In these modules, students will be academically prepared to write a research-oriented Master's thesis, which they will have to defend through a final presentation.

The curriculum includes an introduction to academic methods for research and studies, which prepares Master’s students for scientific writing and presentations.

Students should expect a weekly workload of approx. 20 hours of classroom studies and at least 20 hours of independent studies. Classroom 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 scientific project includes an academic paper and a presentation, and it prepares students for the Master's thesis.

Students must be able to work independently at an academic, research-oriented level.

Our school is primarily offering in-person classes. However, depending on the lecture style of the professor, some online modules may be offered. On-campus presence is required for a successful study programme.

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. Student organisations, such as AIESEC and Enactus, are active on campus. These organisations and the University Career Service Centre provide networking and support.

Applicants must provide a Bachelor's degree, diploma, or another equivalent degree in a relevant subject 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 with a minimum amount of credits, and applicants should have strong knowledge from courses in economics, business administration, and quantitative methods – for example, econometrics, advanced (business) mathematics, and statistics for economics. Additionally, applicants need to submit a letter of motivation stating skills, abilities, and interest in the study programme.

Please note: Advanced knowledge in quantitative methods modules, including econometrics, statistics, etc. as well as proficient English skills at a minimum level of C1 and knowledge of academic writing are important preconditions for successful participation in this programme.

Detailed information about admission requirements (i.e. relevant degrees, letter of motivation, and English skills) is available on the study programme's website:
FINEC's Admission 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.

On-campus opportunities for students in their third semester or higher are provided. German language skills are usually a requirement for application.
A semi-annual job fair is held on campus 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.