Applied Economics and International Economic Policy

Study mode:On campus Study type:Full-time Languages: English
Deadline: Jul 15, 2024
601–800 place StudyQA ranking:5824 Duration:2 years
This Master's programme builds upon the former programme "Internationalisation and Economic Policy", which received an excellent evaluation in the CHE ranking (top six in Germany). The academic focus is on scientific research: theoretical and methodological knowledge forms the basis of an internationally aligned and application-oriented approach. In the course of the programme, various specialisations can be chosen, e.g., in the field of international economic relations, economics of the labour market, health economics, and financial economics.
Applied Economics and International Economic Policy puts an analytical focus on the world economy and regional integration dynamics (including disintegration pressure) in the EU, ASEAN, Mercosur, andNAFTA; and also includes deep regional integration approaches such as TTIP and TPP. Not only trade effects but also foreign direct investment dynamics and Schumpeterian innovation dynamics are analysed. Moreover, labour market dynamics and challenges for fiscal policy, monetary policy, tax policy, and innovation policy as well as the design of the globalisation process are discussed. Financial market dynamics and international capital flows are also highlighted. This includes empirical analysis plus the debate about institutional changes in G20 and the EU, respectively. There is also a focus on the role of international organisations.
We emphasise problem-based learning, so you will not only write papers on an individual basis but also as part of a group of students working collectively on a particular international economic policy problem or on theoretical and empirical issues.

It is also possible for students to gain practical experience through a research-oriented internship. The internationally oriented knowledge transfer is complemented by study visits to international institutions (e.g. the ECB, the European Commission, the OECD, the WTO, the ITU, and the IZA). English is the language of instruction in all compulsory modules. The same applies for various elective modules. The Master's thesis and papers written in the framework of seminars can also be submitted in English. Altogether, it is thus possible to study the entire programme in English.

Please note that some prior knowledge of international economics and statistics is expected of students. As an indicator of your current level, a self-assessment online test can be completed here (http://welfens.wiwi.uni-wuppertal.de/fileadmin/welfens/daten/Skripte/Selbsttest/test.htm).

Professors, researchers, and representatives from major international organisations (e.g., from Brussels/European Commission, Frankfurt/European Central Bank, Bonn/BNetzA, Hamburg/GIGA German Institute of Global and Area Studies, New York/Columbia University) make up the staff for these courses, which emphasise active learning approaches in small groups. Internet-based teaching is also available, as is a helpline for foreign students.

Excursions to the European Commission, the European Parliament and the European Central Bank are included and may become part of your studies.

Educational organisation

Structure
Each of the four modules in the compulsory part (Pflichtbereich) must be studied. Additionally, three modules must be chosen from the various modules offered in the elective part (Wahlpflichtbereich). Two seminars must also be completed. In the supplementary part (Ergänzungsbereich), either one module can be chosen from all the Master's modules on offer, or, alternatively, a third seminar can be selected. According to §12 of the examination regulations, not all modules can be studied or combined with each other. Successful completion of each module and each seminar is awarded with 10 credit points, the Master's thesis with 20 credit points.

Compulsory Part (Pflichtbereich, four modules)
MWiWi 1.19 International Corporate Governance
MWiWi 2.5 International Macroeconomics and Globalisation
MWiWi 2.13 Advanced Microeconomics and Public Finance
MWiWi 4.2 Applied Econometrics

Elective Part (Wahlpflichtbereich, three modules)
MWiWi 1.1 Controlling
MWiWi 1.4 Innovations- und Technologiemanagement
MWiWi 1.9 Kapitalmarkttheorie und Portfoliomanagement
MWiWi 1.10 Strategic Service Management
MWiWi 2.2 Economic Integration and the World Economy
MWiWi 2.3 Employment Theories and Policies
MWiWi 2.6 Economics of Innovation
MWiWi 2.8 International Economics
MWiWi 2.11 Health Economics
MWiWi 2.12 Environmental Economics and International Policy Issues
MWiWi 4.6 Mathematics

Seminars
Two seminars must be studied. These two seminars must be assigned to modules which have already been completed in the course of the study programme, or which will be completed in the further course of the study programme.

Supplementary Part
Any module from all the Master's modules on offer may be studied. Alternatively, a third seminar can be chosen. This third seminar must however be assigned to a module which has already been completed in the course of the study programme, or which will completed in the further course of the study programme. Alternatively, a (research oriented) internship can be completed. An internship enables students to obtain professional experience in an integrated manner during their studies. Relevant contacts will be offered by the Chair.

Master's Thesis

Internships

Voluntary internships at the European Institute for International Economic Relationships (EIIW) are available (with a salary and limited availability).
See: http://www.eiiw.eu

Forms of assessment

100 ECTS for exams (lectures) and semester papers (seminars) plus 20 ECTS for the Master's thesis

Course objectives

Skills to be acquired (please note: requirement for starting the programme is basic knowledge in mathematics and statistics; see information at http://welfens.wiwi.uni-wuppertal.de/index.php?id=3314&L=1):

Students will learn how to link economic theory and empirical analysis and apply standard and new approaches to economic policy and company strategies. They will also become familiar with how international law influences economic policy. Developing theoretical models in international correlation and deducing empirical hypotheses will be important in their analysis of studies on economic, corporate and political problems.

Career Perspectives:
Participants will be able to derive recommendations from economic theory and empirical analysis. Students will acquire theoretical knowledge in an international context and derive empirically verifiable hypotheses from this theory; moreover, comparative studies on alternative policy approaches will be developed and evaluated. Students will be able to formulate and present political recommendations on the basis of scientific facts. The particular value of this Master's programme is not merely confined to its specialisation as regards its content.

Specific career options include:
  • Public Service
  • Political Organisations
  • International Organisations
  • Economic Research Institutes
  • Policy Units in Enterprises
  • Associations

Language requirements

Applicants must provide proof of their German and English skills.
Required English language skills:
  • TOEFL iBT (Internet-based): 79 points
  • TOEFL PBT (paper-based): 550 points
  • IELTS academic module: 6.0 band score
  • Cambridge Certificate in Advanced English: level 4
or another language certificate at level C1 of the European Framework of Reference for Languages

Enrolment is dependent upon proof of the necessary German and English language skills. Foreign students fulfil the language requirements if they can prove a command of the German language corresponding to at least level A2 of the Common European Framework of Reference for Languages (CEFR) (Gemeinsamer Europäischer Referenzrahmen für Sprachen (GER)).

If A2 German skills cannot be proven at the time of application, the applicant may be temporarily accepted if he or she provides proof of German language skills at level A1. Within the first two semesters of the study programme, the applicant must then acquire the required language skills (A2) and document them by means of a language certificate.

Academic requirements

As far as the President of the Bergische Universität Wuppertal is concerned, there is no special set of rules for admission to the Master's programme. However, there are certain prerequisites which applicants must meet (moreover, in the English Option Management and Economics there are specific English language requirements). Admission requires, in accordance with §2 of the Master Examination Rules, successful completion of a Bachelor's programme or Diploma programme in economics, business administration, or mathematical economics (or in other study fields considered as equivalent). The minimum grade is C in accordance with ECTS (if no such degree is shown on the certificate, a 2.5 mark is the minimum). Note that if the number of candidates exceeds capacity, there will be a special selection process based on written or oral examinations. Equivalence of other study fields is given if at least 100 performance points in the Bachelor's programme are related to business and economics (in particular in business administration, economics, business informatics, mathematical economics, methods of economics). Of these 100 credit points, at least 15 credit points must have been obtained in the field of economics, and at least 15 credit points in the field of business administration. In addition to a final written thesis, another 6 credit points must have been obtained through written papers that meet scientific standards.

The application must include:
  • Completed application form for admission
  • Officially certified copies of the school leaving certificate including the transcript of records, and of the Bachelor's or equivalent degree or of the diploma supplement including the transcript of records. If the certificates are in a language other than English, French, or German, an officially certified translation into German or English must also be submitted.
  • A short letter of motivation stating your choice and knowledge of the disciplinary science and indicating the format you choose for the entrance examination
  • The results of the IELTS/TOEFL test or a document certifying that you have taken your first degree in English. The TOEFL code number for uni-assist is 2727. Indicate this code to the Educational Testing Service so that your scores can be sent directly to them.

Enrolment fees

There are no enrolment fees. Students have to pay a compulsory fee including a social contribution called "Sozialbeitrag", a contribution to the student body called "Studentenschaftsbeitrag", and a fee for the "NRW-Ticket" for public transport within the state of North Rhine-Westphalia. The compulsory fee amounts to about 270 EUR per semester and is not a university fee.

Costs of living

A student's monthly expenses is approx. 650-700 EUR. This includes accommodation, general costs, health insurance, and learning materials.

Arrival support

See: http://www.international-students-wuppertal.de/

Services and support for international students

For the International Office, see: http://www.internationales.uni-wuppertal.de/en/basics/international-office.html
For the International Students Team, see: http://www.international-students-wuppertal.de/
For the Hochschulsozialwerk, see: http://www.hochschul-sozialwerk-wuppertal.de/en.html

Accommodation

You can either live in a residence or rent a room/apartment off campus. There are eight on-campus halls of residence with a total capacity of about 1,200 places. The rooms are mostly rented unfurnished. Rent is approx. 200-250 EUR. You can obtain information and apply for a place in a student residence at:
http://www.hochschul-sozialwerk-wuppertal.de/en/accommodation/looking-for-accommodation.html

As only a limited number of living quarters are available here, you can also inquire about private accommodation free of charge at the Central Accommodation Office of the Wuppertal University Social Services Office.
See: http://www.hochschul-sozialwerk-wuppertal.de/en/accommodation/contact.html
E-mail: wohnen@hsw.uni-wuppertal.de
See: http://www.hochschul-sozialwerk-wuppertal.de/en/accommodation/private-rooms.html
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