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    Top Economics Universities in Germany: Courses, Eligibility, Fees, Scholarships and Jobs

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    Anam Shams

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    Around 60 economics universities in Germany provide degrees at various levels of education. Students with a degree from an economics university in Germany can earn up to 90,000 EUR per annum. The two broad branches of this field- macroeconomics and microeconomics are offered as UG and PG degrees. Macroeconomics deals with the large scale economy and money market globally. Microeconomics deals with the working of a single unit of production and theories related to it. 

    International students prefer  to study abroad in Germany for economics because of a number of reasons:

    • Germany provides free higher education in all public universities. Hence, the monetary burden on an international student is less.
    • According to DAAD, over 100,000 international students had enrolled in economics and social sciences courses at German universities in 2019.
    • Economics courses rank 8th among the highest paying courses for recent graduates in Germany.
    Average Salary in Germany

    Best Economics Universities in Germany

    There are around 300 public universities in Germany out of which 30 institutions offer economics courses in Germany. One of them belongs in the top 50 universities for economics courses globally. Here is a list of the top economics universities in Germany and their rankings according to QS Global Rankings 2020.

    University Rank Courses offered
    University of Mannheim 45 5 bachelor courses, 1 Ph.D. course
    Humboldt University of Berlin 51-100 2 masters courses, 2 Ph.D. courses
    Ludwig Maximilian University of Munich 51-100 1 bachelor course, 2 masters courses
    University of Bonn 51-100 2 masters courses
    Free University of Berlin 51-100 1 bachelor course, 2 masters courses
    University of Gottingen 51-100 2 masters, Ph.D. course

    Economics Courses in Germany: Degree Types and Specializations

    Economics courses in Germany are often preferred by international students, having a business-oriented mind, to study abroad. This is mainly because of the various specializations offered and the course curriculum being more concentrated towards business organization, finance and management. 

    Economics courses are offered as a BSc degree at the undergraduate level. At the graduate level, MS, MA degree is usually available. International students who aspire on becoming a teacher of economics can apply for MEd courses providing vocational teacher training. A Ph.D. is given at the doctoral level of study.

    Economics is a social science subject. Hence, it has various branches and specializations spreading across some parts of mathematics and statistics. Here are some of the popular specializations international students can opt for:

    • Econometrics
    • MIcroeconomics
    • Macroeconomics
    • Financial Economics
    • International Economics
    • Welfare Economics
    • Industrial Economics
    • Game Theory
    • Monetary Economics

    Economics Universities in Germany: Undergraduate Programs

    An undergraduate degree in economics in Germany is a 3-year course. There are no tuition fees required but the University of Mannheim is among one of the top universities which charge a tuition fee. However, it is far less than courses in the USA or UK. 

    Below is a table showing some of the top institutions providing bachelor courses in economics in Germany and their course details:

    University Course Offered Annual Fees (in EUR)
    University of Mannheim BSc Economics 3,330
    BSc Economics and Business Education
    Ludwig Maximilian University of Munich BSc Economics 130
    University of Bonn BSc Economics 580
    Free University of Berlin BSc Economics 600
    Heidelberg University BSc Economics 382
    RWTH Aachen University BSc Economics 600
    University of Freiberg BSc Economics 3,330
    BSc Economic Science

    Economics Universities in Germany: Eligibility for Bachelors

    International students can Apply to German universities either through the college website or through uni-assist. Uni-assist is a centralized admission portal run by the German Academic Exchange Service (DAAD) which allows international students to apply for multiple universities via a common portal.

    The academic requirements to pursue a bachelor in economics in Germany for international students are:

    • Secondary level school education with a minimum of 75% with maths and statistics as a subject
    • Passing the qualification assessment examination in Germany, called Feststellungsprüfung. The Feststellungsprüfung is an examination conducted by universities that assesses your proficiency in subjects that are crucial to your chosen degree program and also in German language.
    • Courses for international students are usually offered in English, but most bachelor courses are offered in German language. Hence, the German language test score, DSH level2 is required for international students applying for those courses.
    • English language proficiency test scores: IELTS- an overall minimum band of 6 and TOEFL- a minimum of 90 is required.

    Documents Required

    • Official Transcripts
    • Test Scores
    • Letter of Recommendation (LOR)
    • Resume

    UG Fees at Economics Universities in Germany

    Bachelor in Economics in public universities of Germany is free. However, international students need to pay university fees and some other charges which usually range from 500 EUR to 1500 EUR a year.

    Economics Universities in Germany: Postgraduate Programs

    Usually, a 1-2 year course, Masters in Economics in Germany is offered with a concentration on advanced analytical learning and quantitative training. International students with a graduate degree in economics immediately find jobs as this course prepares them for knowledge in economic methods and their implementations on a high theoretical level. 

    Here are some of the universities offering economics masters in Germany and their details:

    University Course Offered Duration (in years) Annual fees (in EUR)
    Ludwig Maximilian University of Munich MS Economics 2 265
    MS Quantitative Economics
    Heidelberg University MS Economics 2 355
    Humboldt University of Berlin MS Agricultural Economics 1 3679
    MS Economics and Management Science 2 3679
    University of Freiberg MS Economics 2 2681
    M.Ed Economic Science
    University of Tuebingen MS Management and Economics 2 3094
    MS International Economics
    MS Economics and Finance
    MS European Economics
    RWTH Aachen University M.Ed Economics - Vocational School Teacher 2 294
    MS in Economic Geography
    MS in Economics
    University of Bonn MS Economics 2 6703
    MA Ecumenical Studies
    Free University of Berlin MA Economics 2 321
    MS Public Economics
    University of Goettingen MS International Economics 2 746
    MS Development Economics
    University of Hamburg MS Economics 2 328
    MS Health Economics and Health Care Management
    University of Cologne MS Economic Research 2 577
    MS Economics

    Economics Universities in Germany: Eligibility for Masters 

    International students applying for masters can also apply through Uni-Assist.

    • Passed a bachelor’s degree in economics or related field with maths and statistics in the degree course. 
    • A minimum of 60% in undergraduate is demanded by most universities.
    • GRE scores of minimum 320
    • Proof of basic German language skills (CEFR Level A1 or DSH level2)
    • English language proficiency test scores: IELTS- an overall minimum band of 6, TOEFL- 90, 

    Documents Required

    The documents that are needed during the time of admission is listed below:

    • Resume
    • Letter of motivation in English (maximum of 500 words)
    • 2 letters of recommendation
    • Academic essay
    • Official transcripts
    • GRE, IELTS, TOEFL, DSH scores

    PG Fees at Economics Universities in Germany

    Most public universities in Germany provide higher education free of cost. Students just need to pay the enrollment fee/ university fee which ranges from 500 - 1500 EUR annually. Some universities charge tuition fees which range from 2,500- 6,700 EUR annually.

    Economics Universities in Germany: Doctoral Programs

    A Ph.D. in economics in Germany helps a student specialize in a particular aspect of a subject that interests him. It gives a detailed insight into the subject and prepares a student for research-based jobs. Ph.D. in Germany with economics is usually a 3-4 year course offered in public universities with no tuition fees. 

    The table below shows some of the universities providing doctorate degrees in economics and their details:

    University Course Offered Duration (in years) Annual fees (in EUR)
    University of Gottingen Ph.D. Economic Sciences 3 NA
    Humboldt University of Berlin Doctor of Philosophy [Ph.D.] Berlin Doctoral Program in Economics and Management Science (BDPEMS) 4 NA
    Doctor of Philosophy [Ph.D.] European Ph.D. in Socio-Economic and Statistical Studies (SESS) 3 NA
    Goethe-Universität Frankfurt Ph.D. in Economics 4 NA
    University of Mannheim Ph.D. in Economics 5 NA
    University of Konstanz Doctorate in Quantitative Economics and Finance 3 NA

    Economics Universities in Germany: Eligibility for Ph.D. 

    The eligibility criteria for international students to get admission in economics doctoral courses in Germany are:

    • A masters degree from a recognized university in economics or any related specialization with a minimum of 50%
    • Doctoral applicants from India must subject their master’s degree to an equivalency test with a German degree. The Dean's office of your chosen university will be doing this check.
    • A writing sample showing your interest in the subject
    • Language proficiency tests - IELTS- an overall minimum band of 6.5; TOEFL- 80; DSH- 2 (for courses taught in German)

    Documents Required 

    Ph.D. Fees at Economics Universities in Germany

    There are no tuition fees for a Ph.D. in Germany for international students in most universities. However there are some university or administration charges that a student has to pay every semester depending on the course structure.

    Economics Universities in Germany: Scholarships Offered

    Higher education is free in public universities in Germany. Affordability coupled with an almost-negligible tuition fee attracts more than 350,000 international students to study in Germany every year. 

    However, the cost of living is high and some of the top private universities charge high tuition fees. Hence, international students opt for scholarships. Scholarships for international students in Germany are either private or corporate houses funded or government-funded.

    Some of the non-government scholarships are tabulated below:

    Scholarship Awarding Committee Award (in EUR)
    Leke van den Burg Prize for research on systemic risk European Systemic Risk Board (ESRB) 5000
    The Friedrich Ebert Stiftung Scholarship Friedrich Ebert Foundation 830 per month
    Women in Economic Scholarship European Central Bank 10,000
    Heinrich Boll Scholarships in Germany for International Students Heinrich Boll Foundation Varies
    JN Tata Endowment Scholarship Tata Trust 11,976

    The government of Germany also sponsors financial aid for international students to study in Germany. Scholarships provided by DAAD  ( German Academic Exchange Service) are mentioned below: 

    Scholarship Awards (in EUR)
    Research Grants- Doctoral Programs in Germany Monthly 850 for graduate students; Monthly 1,200 for doctoral students
    Graduate School Scholarship Programme (GSSP) Monthly 1,200
    Helmut-Schmidt-Programme (Master’s Scholarships for Public Policy and Good Governance - PPGG) Monthly 850
    Baden-Württemberg Stiftung: The Baden-Württemberg-STIPENDIUM for University Students 600- 1400 per month
    Federal Ministry of Education and Research: Germany Scholarship 300 per month

    Economics Universities in Germany: Career Scope 

    To get jobs in Germany after pursuing a degree in economics, international students should master the German language as it is the primary language in the country and companies prefer to recruit students who have mastered it. Some of the job titles you can apply for and their annual salary range is given below:

    Job Title Average Annual Salary (in EUR)
    Economist 24,000 - 96,000
    Financial Controller 53,000 - 96,000
    Data Analyst 38,000 - 68,000
    Pricing analyst 37,000 - 69,000
    Statistician 74,000 - 100,000
    Market Researcher 54,000 - 122,000
    Finance Expert 59,000 - 64,000
    Investment Analyst 53,000 - 75,000
    Investment Banking Analyst 60,000 - 102,000
    Postdoctoral Research Associate 31,000- 63,000
    • An economist in Germany in his mid-career earns approximately 38% more than a fresher in the field.
    • The average economist salary in Germany is 64,488 EUR per year or an equivalent hourly rate of 31 EUR. In addition, they earn an average bonus of 1,748 EUR per annum.
    • The salary of professionals in the economics and finance industry is expected to rise by approximately 16% by 2025.
    • Economics and econometrics sector jobs rank 7th in the highest paying salaries in Germany.
    • European Central Bank is one of the highest recruiters of economics graduates in Germany

    Last but not the least, a degree from economics universities in Germany is a golden opportunity for international students because of the low or no tuition fees in most universities. Though the living cost is high and can go up to around 850 EUR per month. The students earn salaries of around 60,000 EUR per annum without investing much in the cost of study.

    Reviews

    EK
    8.5 /10

    My sister's friend had suggested to me this college as he also graduated from here and now is doing great and working at a top-notch company. He is also earning a handsome amount of money. I was attracted to his growth and decided to opt for this university. I applied online through the uni-assist app for € 75.

    Fees :

    The University of Duisburg-Essen does not charge us any tuition fees. However, a semester contribution of approximately € 200 was paid by me twice every year. I think I paid an average cost for my studies.

    CA
    8.5 /10

    I always wanted to pursue my masters from abroad. I explored many colleges and universities online before getting admitted to the University of Erlangen-Nuremberg. The other universities didn't attract me as this university did. There are various facilities that attracted me to pursue my masters from this college. My previous academics also helped me a lot in taking admission. I have applied online through the portal of this university known as 'campo'.

    Fees :

    My university does not charge us any tuition fees except for a couple of degree programs of professional development & working professionals. However, each and every one of us is required to pay a semester fee of € 120, which includes student services fee and a fee for the basic semester ticket, twice every year.

    AS
    8.7 /10

    The university was suggested to me by my career counselor on the basis of my interests and performance in the previous academics. I surfed the web about the university and read a lot of positive reviews about it. Finally, I applied to the university via the uni-assist application by paying an application fee of € 75.

    Fees :

    I pay € 1500 as the tuition fee and € 170 as the semester contribution. I think I contribute an average fee.

    SG
    9.2 /10

    World university ranking and the rich infrastructure are my only reasons for which I got attracted and opted for this university. One of my cousins also graduated from this university and now is doing great and earning a handsome amount. I have applied online through the official website of the university. No application fee was charged.

    Fees :

    Annually I have to pay € 3000 as the tuition fee, € 300 as the tuition fee, and € 1100 as the health insurance fee. All in all, it came to be around € 3500 in total for a year. I think the amount is having the worth here at this university.

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