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Program structure

90 of the 120 credit points are collected through course work in modules of (typically) 6 ECTS. 30 credit points are awarded to the Master thesis, in which you work independently on an academic research topic under the supervision of an experienced professor.

The specific courses offered within each module typically vary from term to term, but the main qualifications acquired in the alternative courses within a module are the same. The currently available courses are registered in MARVIN. A list of courses and their assignment to modules can be found there. 

1. Foundations (24 credits)

Three mandatory modules:

  • Introduction to Institutional Economics
  • Decision-Making in Strategic and Non-Strategic Settings
  • Introduction to Behavioral Economics

And a fourth module to be chosen from Applied Econometrics of Quantitative Methods in Empirical Finance.

This areas The offers introductory courses in institutional economics and behavioral economics, which are central components of the program. Furthermore, theoretical microeconomics and empirical analysis lay important foundations for the subsequent course of study.

2. Institutions and Behavior: Theory (18 credits)

One mandatory module:

  • Seminar in Institutions and Behavior: Theory

Four modules from which two have to be chosen:

  • Institutions and Behavior: Theory
  • Law and Economics
  • Public Economics
  • (Topics in Institutions and Behavior: Theory Abroad)

This area offers advanced courses in institutional economics, which are methodologically influenced by a theoretical approach. To further consolidate this methodology, students are encouraged to engage intensively and independently in current research literature in a seminar.

3. Institutions and Behavior: Empirics (18 credits)

One mandatory module:

  • Seminar in Institutions and Behavior: Empirics

Five modules from which two have to be chosen:

  • Empirical Macroeconomics
  • Experimental Economics
  • Institutions and Behavior: Empirics
  • Empirical Development Economics with Reference to the MENA-Region
  • (Topics in Institutions and Behavior: Empirics Abroad)

This area offers advanced courses in institutional economics, which are methodologically influenced by a theoretical approach. To further consolidate this methodology, students are encouraged to engage intensively and independently in current research literature in a seminar.

4. Specializations (30 credits)

One can specialize in either one of the following areas:

4.a Political Economy

Five modules have to be chosen:

  • Economic Aspects of Political Institutions
  • Economic Policy
  • Political Economy of Corruption and Shadow Economy
  • Political Economy of Islam
  • Inequality and Diversity
  • Digital Societies
  • Researching Inequality and Diversity
  • Researching Digital Societies
  • Researching International Politics and Conflict
  • (Topics in Political Economy Abroad)

This specialization focuses on how the political sphere influences the economy and vice versa. For example, actors such as politicians are understood as self-interested decision-makers and political competition before elections is analyzed. This field of study examines various topics from this perspective.

4.b Specialization: Sustainability 

Five modules have to be chosen:

  • Behavioral Economics and Sustainability
  • Introduction to Geography
  • Sustainable Development Economics
  • Challenges to Sustainable Development
  • Geographies of Sustainable Transformation
  • Innovation and Knowledge for Sustainable Development
  • Economic Growth and Sustainability
  • Space and Policy
  • Climate Change
  • Life on Land
  • Soil and Water Resources
  • Advanced Statistical Methods
  • Advanced Empirical Social Research Methods
  • Environmental Modelling
  • Remote Sensing
  • (Topics in Sustainability Abroad)

In this specialization, students learn about various social and organizational challenges related to sustainability and possible tools for addressing them. This approach is based on various methods and an interdisciplinary approach.

4.c Specialization: Money, Accounting, and Finance

Five modules have to be chosen:

  • European Monetary Economics
  • International Macroeconomics and Finance
  • Corporate Finance and Institutions
  • Advanced Management Accounting I: Value-based Management
  • Advanced Management Accounting II: Managerial Decision Making, Governance, and Control
  • Advanced Management Accounting III: Data Analysis and Empirical Research
  • Asset Pricing Theory/Capital Market Theory
  • Behavioral Finance
  • Quantitative Methods in Empirical Finance
  • Selected Problems in Banking and Finance/Banking
  • Seminar Advanced Management Accounting
  • Seminar Case Studies in Entrepreneurial Finance
  • Seminar Current Topics in Behavioral Finance
  • Seminar Finanzierung und Banken für Fortgeschrittene
  • Seminar Household Finance
  • (Topics in Money, Accounting, and Finance Abroad)

This specialization offers economic and business perspectives on the financial market and prepares students for careers in this sector.

5. Electives

When selecting electives to round out your studies (up to 18 credits), you may choose any module from the Specializations (including those in the track you did not choose as a specialization), or advanced seminars. You can also select courses from the export modules of the Master of Science in Business Administration, language courses, or any other eligible courses offered at the University of Marburg, ranging from humanities to social science to natural science. Some of these courses are offered in English, some in German. 

In addition, in courses offered in the module Key Qualifications you are given explicit training in some extremely relevant soft skills, including intercultural communication, project management, academic writing, and effective presentation of information. You can also actively participate in a research project at the School of Business & Economics, or gain new insights into career orientation through a creditable internship

Also, courses from studies abroad or from the EUPeace initiative and its module "Perspectives on Peace, Justice, and Inclusive Societies" can be credited here.

5. Master thesis

The Master thesis (30 credits) is your opportunity to apply the skills you have been taught and demonstrate how much you have learned. A theory- or policy-oriented research question is studied using appropriate methods from the economist’s toolkit.

Writing the Master thesis will teach you to:

  • conduct an in-depth analysis of a research question in the field of economics
  • apply your knowledge in the area of economics or quantitative methods
  • structure and formulate a scientific argument and follow important rules associated with scientific work