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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. Research Methods

Two mandatory modules:

  • Theoretical Economics
  • Empirical Economics

The modules can be completed in each term; It is highly recommended to complete them at the beginning of the program.

You will learn to:

  • understand models of individual decision making, general equilibrium analysis, and game theory
  • use econometric methods to analyze microeconomic or macroeconomic data
  • translate theoretical hypotheses into applied data work, using statistical software

These modules will prove advantageous to your career because you will gain confidence in:

  • analyzing choice problems and anticipating strategic behaviour of decision makers due to your knowledge of game theory
  • making educated comments on empirical studies and conducting your own empirical work using the widely used software STATA

2. Institutional Economics

One mandatory module:

  • Seminar on Institutional Economics

Nine modules from which five have to be chosen:

  • Applied Institutional Economics
  • Behavioral and Experimental Economics
  • Development Economics
  • Economics of Political Institutions
  • International Institutional Economics
  • Law and Economics
  • Non market Institutions
  • Public Economics
  • Theoretical Institutional Economics
  • Seminar Advanced Institutional Economics

You will learn to:

  • perform an economic analysis of legal rules and regulations
  • deal with models of moral hazard and adverse selection as well as with mechanisms for overcoming the corresponding inefficiencies
  • understand the role of the government in a market economy
  • apply the various approaches of institutional economics to specific problems in the different field of economics

These modules will prove advantageous to your career because you will gain confidence in:

  • mastering models of institutions and applying them to real-life question
  • designing institutions based on a theoretical analysis of individual objectives and behavioral constraints
  • analyzing and critically discussing institutions in an international context
  • assessing international institutions in an international context
  • critically assessing the effectiveness of different policy instruments
  • evaluating economic policies

3. Economic Specializations

One can specialize in either one of the following areas:

3.a Economic Policy

One mandatory module:

  • Seminar on Economic Policy

Five modules from which three have to be chosen:

  • Economic Policy
  • International Economic Policy
  • Political Economics
  • Monetary Economics
  • Macroeconomics and Finance

These modules will teach you to:

  • discuss selected economic policies, such as competition policy, monetary policy, tax policy, policy for developing countries, and critically analyze specific international problems of economic policies at a theoretical and practical level
  • competently write and present economic papers and successfully defend your arguments in academic discussions
  • These modules will prove advantageous to your career because you will gain confidence in:
  • your knowledge about various fields of economic policy
  • investigating macroeconomic problems due to your thorough understanding of theoretical principles and empirical regularities

3.b Money, Accounting, and Finance

One mandatory module:

  • Seminar on Money, Accounting, and Finance

Three modules have to be chosen:

  • Macroeconomics and Finance
  • Monetary Economics
  • Import Modules from Business Administration

These modules will teach you to:

  • analyze business finance and capital markets as well as monetary macroeconomics
  • understand, at an advanced level, accounting principles and analysis
  • formulate a scientific argument
  • These modules will prove advantageous to your career because you will gain confidence in
  • analyzing issues pertaining to financial markets, monetary macroeconomics, and accounting
  • the possibilities and limitations of modern finance theory, monetary macroeconomic theory, and modern accounting theory
  • solving problems encountered in practice, particularly in financial institutions

4. Electives

When selecting electives to round out your studies (18 credits are required), you may choose any module in the area of Institutional Economics or Economics Specializations (including those in the track you did not choose as a specialization). 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. Every semester a list of courses to be taught in English is published. 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 Department of Economics.

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