Otto-von-Guericke-Universität Magdeburg

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Financial Economics/ FINEC

Study Program: Financial Economics
Degree: Master of Science (M.Sc.)
Duration: 4 semesters
Language: English
Type: Research, theoretical orientation
Classes: ca..30 students
Tuition: Subsidized by the German goverment for all students
Admission: Documents + Academic Requirements
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
Accreditation: ACQUIN

Study program description:

The Master program in Financial Economics/FINEC is designed to equip students with the knowledge, methods, and skills that professional applied economists or financial analysts and managers are expected to possess. The program builds upon a strong basis in economic theory, econometrics, and quantitative finance provided within the first and second semester. Later on, namely from the third study semester, students will specialize. The M.Sc. in Financial Economics program prepares students for challenging future responsibilities in the private and public sectors of economies worldwide as well as for future scholarly research endeavours as, for example, in our doctoral programme in economics.

During the first  and second semster students obtain 50 credit points in compulsory modules. Afterwards, students may choose between three elective, so called specialization modules, pass an scientific project and a compulsory elective seminar. The fourth semester is reserved for a master thesis including a research seminar. Candidates must demonstrate their ability to work independently on a selected topic using scientific methods.

Academic requirements for admission:

Applicants must proof an undergraduate degree in a relevant subject (economics, finance, business) from a recognized university. A strong knowledge in advanced mathematics and statstics is a requirement for admission to our master study program. Our program is suitable for graduates wanting to acquire special theoretical skills in financal economics, international economics, or macroeconomics.

An undergraduate degree 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.

Proof of English skills and list of other options

GRE/ GMAT test scores are essential to compare the qualifications of applicants and evaluate their academic and analytical-mathematical knowlegde. The tests are designed to examine the applicant's understanding of elementary mathematical concepts and his/her ability to reason quantitatively and to solve problems in a quantitative setting.  The language of instruction and assessment in our full-time master's study program is exclusively English. Students must demonstrate fluent written and spoken English on a graduate level, such as the knowledge and skills necesary to complete academic papers. Applicants with good scores in the GRE/ GMAT thereby show sufficient proof of a good performance in the English language. 

Minimum scores: GRE, Graduate Record Examination; General Test, quantitative part = 148 pts. and verbal part = 143 pts.
GMAT, Graduate Management Admission Test, total score of 550 pts. or higher.

International elements:

- 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.

Counseling options:

The university has a variety of offices to support students during their studies, including workshops and personal counseling. Exclusively for ISP students, the program coordinator of International Study Program Office assists with study organization and advising. Additionally, an academic orientation seminar is offered at the beginning of the winter term as well as multiple presentations which are held by students for students (SIMP-SON) about university life and integration into German society.


The whole range of the program and the skills which it provides have proved attractive to employers in a wide variety of industries. Most of our graduates of the M.Sc. in International Economics & Finance work as business, market, or political economists in foreign or multi-national companies, consultancy firms, financial institutions, or international organizations. If you would like more information about career services, internships, job search counselling, job interviews, etc., please check out the Career Service Center which is an institution of the Otto-von-Guericke University Magdeburg.

Study abroad:

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 faculty.


There are no compulsory internship requirements. However, graduate students are encouraged to complete at least one internship over the course of their studies in order to gain experience within a German, or an international, workplace culture and environment. Internships must be self-organized; furthermore, the AIESEC, IAESTE, and Leonardo Da Vinci organizations provide opportunities and assistance to both German and international students.

A short 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, self-organized, and flexible to ensure that they can finish the program successfully. A typical study week involves approx. 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.

Letzte Änderung: 16.03.2018 - Contact Person: Webmaster
Program Director:

Prof. Dr. Peter Reichling


4 students DAAD
"The five years I spent studying in Magdeburg turned out to be the happiest time in my life. The highly mathematically and statistically oriented undergraduate and graduate courses covering a wide range of economic fields helped me to develop a deep understanding in the spheres of Management, Economics and Finance.The ISP program has always been ranked in the top five best English taught programs in Germany. The various exchange program possibilities, selective courses as well as lectures and seminars of guest professors from all over the world, give you the opportunity to shape yourself into a potential successful businessman/woman, academic researcher, analyst or any other position you are striving to acquire."

M.Sc. E. Zhuomin
Senior Market Analyst, Shanghai, China