Master of Science in Financial Economics/ FINEC
Get an overview of the international master's study program with teaching language English.
|Study Program:||Financial Economics
|Degree:||Master of Science (M.Sc.)|
|Duration:||4 semesters, full-time study program|
|Type:||Research, strong theoretical orientation|
|Size:||Classes with approx. 70 students|
|Tuition:||Subsidized by the German goverment for all students|
|Admission:||Documents + academic requirements|
|Special requirements:||English skills proof|
|Modules:||Overview of classes: program structure|
|Credits:||ECTS 120, including master's thesis|
|Regulations:||Study- and exam regulations|
|Begin:||Winter semester only (October)|
|Internships:||Not integrated in the study program|
The study program is designed for:
Students who want to acquire knowledge, methods, and skills that are expected of professional applied economists or financial analysts and managers. The program builds upon a strong foundation in economic theory, econometrics, and quantitative finance that is provided within the first and second semesters. Later on, generally from the third study semester, students will specialize. The M.Sc. in Financial Economics prepares students for challenging future careers in the private and public sectors of economies worldwide as well as for future scholarly research endeavors; for example, our doctoral program in economics.
During the first and second semester students obtain 50 ECTS (credits) in compulsory modules. Afterwards, students may choose between three electives: specialization modules, a scientific project, and a compulsory elective seminar. The fourth semester is reserved for the master thesis, including a research seminar. Candidates must demonstrate their ability to work independently on a selected topic using scientific methods.
The study program is structured in:
Compulsory modules (45 ECTS)
like: Stochastics, Econometrics, Microeconomic Analysis, Macroeconomics Analysis, Foundations for Finance, Financerial Engineering, Financial Institutuions,...,
Academic Methods ( 5 ECTS),
Compulsory elective modules (specialization) with 40 ECTS, including a seminar (10 ECTS) and a scientific project (15 ECTS), and
the module written master thesis paper and master thesis seminar (30 ECTS).
The last (4th) semester is reserved for the module master thesis paper and master thesis seminar (30 ECTS). Here candidates must demonstrate their ability to work independently on a selected topic using scientific methods in order to be successfully.
* 1 ECTS stand for a work load of 30h (5 ECTS = 150h per module, goal 30 ECTS per semester)
Applicants must show proof of an academic degree in a relevant subject (economics, finance, business) from a recognized university. A strong knowledge in advanced mathematics and statistics is a requirement for admission to our master study program. Our program is suitable for graduates willing to acquire theoretical skills in financial economics, international economics or macroeconomics.
An academic degree of a recognized university/institution in Germany is considered relevant with:
a minimum of 60 credits /ECTS or 12 modules in: economics, business administration plus
18 credits/ ECTS or 4 courses of quantitative modules.*
* Quantitative modules are modules like: mathematics, statistics, and econometrics, research methods, etc.
Students must demonstrate fluent written and spoken English on an English level C1, such as the knowledge and skills necessary to complete academic papers.
You can see all valid options to prove your English skills here.
TOEFL, IELTS, GRE, GMAT
- all English instruction and examination
- balanced mixture of local and international students
- support by the universities excellent international office
- large community of international students supported by international student organisations
The university has a variety of offices to support students during their studies, including workshops and personal counseling. Specifically, this program gives its students the opportunity to visit the International Study Program office to receive personal counseling regarding study organization and advice. At the beginning of the winter semester an academic orientation seminar is offered. Additionally, multiple presentations are held for students by students SIMP-SON, about university life and integration into German society.
The FINEC program and the skills which it provides have proved attractive to employers in a wide variety of industries. Most of our graduates work as business, market, or political economists in foreign and multi-national companies, consultancy firms, financial institutions, or international organizations. If you would like more information about career services, internships, job search counseling, job interviews, etc., please check out the Career Service Center which is an institution of the Otto-von-Guericke University Magdeburg.
Our faculty fosters well-established relationships with reputed universities in many countries. If a graduate student wishes to study abroad for one semester (the third semester is suggested), we will be happy to advise him/her and provide credit transfer counseling. Travel grants may be available on an individual basis and must be applied for. For detailed information and counseling, please visit the homepage of the International Office and the exchange program data base "MOVE ON".
There are no compulsory internship requirements; however, graduate students are encouraged to complete at least one internship over the course of their studies. This helps students gain experience within a German or international workplace environment. Internships must be self-organized. AIESEC, IAESTE, and Leonardo provide opportunities and assistance to both German and international students.
A brief introduction to the educational system in Germany
The university system in Germany is based on a strong self-organizing structure, which includes familiarizing yourself with the study handbook and regulations. Students should be very responsible, organized, and flexible to ensure that they can finish the program successfully. A typical study week involves approximately seven lectures of 90 minutes each, plus two or three tutorials. Prior to and after attending lectures, students are required (approx. 3 hrs/wk per class) to independently study in order to expand and reinforce their understanding of the material introduced in class.
Students must expect a weekly workload of 22 to 26 hours of classroom studies, including lectures to learn new concepts and methods, tutorials to discuss concepts and practice methods, and seminars to apply the knowledge on concepts and methods by writing an academic paper and giving a presentation in a teamwork project.