Mathematical models are the main tools for modern economic analysis. They are routinely applied to gain a better understanding of micro- and macroeconomic relationships, economic policy issues and managerial problems. Adequate design and competent analysis of economic models today often requires mathematical skills that go beyond the contents covered in standard Economics programs. The Master’s program in Mathematical Economics provides students with a background in Mathematics and Economics that allows them to apply competently and independently up-to-date methods of analysis to relevant issues in Economic Theory and Policy, Managerial Economics and Finance. Besides obtaining a strong background in the fields of Mathematics and Economics, students get acquainted with the current state of research in selected areas of one of the two fields and do the first steps towards own independent research. Strengthening soft skills like presentation techniques and group work is also an important aspect of the program. The combination of skills in Mathematics and Economics does not only offer good job perspectives in many sectors of the economy but in many cases has also been a good basis for a successful research career.
The curriculum of the program contains modules in Applied Mathematics (e.g. Numerical Mathematics, Stochastics, Discrete Mathematics), in Economics, where students may choose from a wide range of economic topics (e.g. Micro- and Macroeconomics, Finance, Strategic Analysis, Quantitative Methods, Production Planning) and a sequence of modules deepening knowledge in a selected area of Mathematics. Additional credits are earned in group-work on projects or reading courses. The Master Thesis is completed in an area of Mathematics or Economics and in conjunction with the thesis each student gives an oral presentation in a seminar.
The (Research) Master’s degree programme in Quantitative Economics (QE) is organized jointly by the Faculty of Business Administration and Economics and the Center for Mathematical Economics (IMW). Its quantitative analytical approach to economics provides the relevant skills to model and solve economic problems on an abstract level and to transfer the analytic solutions to real world applications. This encourages a flexible and creative approach to complex economic issues like those found typically in the real world.
All courses in the programme are taught entirely in English. Consequently, proof of German language proficiency is not required for admission. Furthermore, graduating with this Research Master’s in Quantitative Economics delivers the necessary qualifications for admission to the Faculty’s Bielefeld Graduate School of Economics and Management (BiGSEM).
Students can choose between two different tracks of the Master’s degree programme: The regular programme QE and the international track of QE. Both offer the same contents but the international track includes usually student exchanges at partner universities, because one of the two examiners of the Master's thesis needs to be a member of the partner university.
The Master’s degree programme in Quantitative Economics teaches students quantitative mathematical methods in economics and prepares them to carry out their own independent work at the cutting edge of research. In their first year, students attend obligatory courses delivering the main scientific and technological skills to carry out their own research. The University offers courses in economics that focus on different methods. Students will need to carry out research in their own specific field.
In their second year, students specialize in their chosen research field by attending in-depth lectures and seminars that will familiarize them with scientific issues and enable them to develop their own ideas on what to specialize in for the research project that will form their Master’s thesis in the fourth semester.
In each semester, students also attend supplement courses. Here, they are free to choose any courses. However, we recommend attending language courses and courses on intercultural competence when planning an exchange visit abroad. For incoming students, taking German language courses is crucial for being fully integrated.