International Programmes 2021/2022

Financial Economics (FINEC) Financial Economics (FINEC)

Otto von Guericke University Magdeburg • Magdeburg

Master of Science in Financial Economics
In cooperation with

IWH - Halle Institute for Economics Research

Teaching language
  • English

Courses and examinations are exclusively in English.

Programme duration
4 semesters
Winter semester
More information on beginning of studies

The study programme begins with an orientation and welcome session in the week leading up to the start of the semester.

Application deadline

International applicants:
15 July for the following winter semester

Tuition fees per semester in EUR
Combined Master's degree / PhD programme
Joint degree / double degree programme

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 a global level. Prospective students must consider that FINEC is a strongly theoretical and math-oriented study programme.

Students will gain skills to conduct self-directed research relating to economics and finance. They will complete practical projects while applying specialised research methods, develop solutions for scientific questions independently 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 (doctoral programmes).

Learn more about our Master's study programme: FINEC information

Module descriptions

Course organisation

The programme includes a wide range of compulsory modules 45 ECTS (credit points) taking place 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 very theoretical and math-oriented study programme builds on students' strong knowledge of quantitative methods. Additionally, fluent and advanced academic English language skills at a minimum level of C1 are a strict precondition for this programme and for successful studies.

After mastering the basics, students may specialise by completing elective courses, including a seminar and a scientific project. This will lead to them writing the Master's thesis, which they will defend in a final corresponding 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 on an academic level expected of graduates.

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Types of assessment

For examinations, students have to expect written examinations, presentations, scientific project papers, teamwork, and case studies. However, the type of examination varies by course and can be found in the appropriate module handbook.

Examinations take place at the end of each semester, and registration is required in the beginning of each semester.

A Diploma supplement will be issued
International elements
  • International guest lecturers
  • Specialist literature in other languages
  • International comparisons and thematic reference to the international context
Integrated internships

There are no compulsory internship requirements. However, students are encouraged to complete a voluntary internship during the course of their studies. The faculty believes it is valuable to gain professional experience within German and international workplaces. Internships must be organised independently. Furthermore, the AIESEC and ERASMUS organisations and the University Career Service Centre provide opportunities and assistance to both German and international students.

Course-specific, integrated German language courses
Course-specific, integrated English language courses
Tuition fees per semester in EUR
Semester contribution

Currently, the semester fee is approx. 129.90 EUR. It covers services offered by the "Studentenwerk" (student union) and the student representatives. Enrolled students receive a semester ticket for free use of public transport, student discounts in the campus cafeteria, etc.

Costs of living

A minimum of 861 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 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

Funding opportunities within the university
Academic admission requirements

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 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: Strong and advanced knowledge in quantitative methods modules, including econometrics, statistics, and micro- and macroeconomics, as well as very fluent English skills on an academic level of (minimum) C1 and knowledge of academic writing are very important preconditions for successful participation in this programme.

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

Language requirements

Proof of advanced, academic English skills at a C1 level is required; these skills must be proved via a language proficiency test. A detailed, updated list of recognised test options and levels is available on the study programme's homepage: FINEC admission and language requirements.

Application deadline

International applicants:
15 July for the following winter semester

Submit application to

Possibility of finding part-time employment

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.


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 270 to 370 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 student union 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.

Career advisory service

Our Career Service Centre provides workshops as well as assistance for students in searching for jobs and internships. A yearly job fair, which is exclusively for students, is held on campus.

Specific specialist or non-specialist support for international students and doctoral candidates
  • Welcome event
  • Buddy programme
  • Specialist counselling

Otto von Guericke University Magdeburg

Content Bild
Faculty of Economics and Management © Otto von Guericke University Magdeburg

Otto von Guericke University Magdeburg 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 14,000 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 (1602-1686), 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 90 degree courses in various areas of study and specialisation. In addition to these, a range of postgraduate courses are offered. There are also many possibilities to combine different subjects across faculties. 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.

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!

30% International students enrolled at the School of Economics and Management
31 Countries worldwide that are home to our FINEC international students

University location

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 230,000 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: