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:
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 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 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:
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|
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:
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.
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|
International students applying for masters can also apply through Uni-Assist.
The documents that are needed during the time of admission is listed below:
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.
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|
The eligibility criteria for international students to get admission in economics doctoral courses in Germany are:
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.
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|
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|
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.
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.
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.
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'.
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.
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.
I pay € 1500 as the tuition fee and € 170 as the semester contribution. I think I contribute an average fee.
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.
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.