Economics

Economics at Ruhr University Bochum offers students a comprehensive and rigorous education in understanding the complex mechanisms of markets, economies, and global financial systems. The program combines theoretical foundations with practical applications, equipping graduates with analytical skills essential for addressing contemporary economic challenges. Students will explore core areas such as microeconomics, macroeconomics, econometrics, and economic policy, gaining insights into how economic agents interact and how economies evolve over time. The curriculum emphasizes quantitative methods and data analysis, preparing students to interpret economic data accurately and develop evidence-based solutions.

Throughout the program, students have the opportunity to specialize in areas like international economics, development economics, or financial economics, tailoring their studies to align with their career interests and goals. The university encourages interdisciplinary learning, integrating aspects of political science, sociology, and law to provide a well-rounded understanding of economic issues in a societal context. Practical experiences, including internships and projects with real-world applications, are incorporated to bridge academic knowledge with industry practice.

The faculty members are renowned experts in their fields, providing mentorship and fostering an engaging academic environment. The program also benefits from modern facilities, access to extensive economic databases, and collaboration with economic institutions, enhancing the learning experience. Graduates of the Economics program at Ruhr University Bochum are well-prepared for careers in academia, public policy, financial sectors, consulting firms, and international organizations. They possess critical thinking abilities, quantitative skills, and a global perspective necessary to navigate and influence today's interconnected economic landscape. With a strong emphasis on research and innovation, this program aims to develop competent economists capable of contributing meaningful solutions to economic problems at national and international levels.

Educational organisation

The MSc in Economics is a two-year (four-semester) degree programme. The first three semesters are scheduled for coursework while the fourth semester is reserved for the Master's thesis. A total of 120 ECTS (European Credit Transfer System) credit points have to be completed, which implies a workload of 30 ECTS credits per semester. In order to graduate, students need to earn 90 ECTS through coursework and 30 ECTS through the Master's thesis. The programme differentiates between:

• core modules: Macroeconomics I, Macroeconomics II, Microeconomics I, Microeconomics II (5 ECTS per module) and Econometrics and Microeconometrics (10 ECTS per module). During the Master's programme students have to earn at least 30 ECTS in the core modules. The core modules provide students with a solid knowledge base in economics at Master's level which can then be complemented with more specialised electives.
• specialised electives: every semester, there are about 20 different economics electives offered in the fields of Applied and Theoretical Microeconomics, Empirical Economics, Energy Economics, International and Development Economics, Macroeconomics and Finance, Economic Policy etc. The class size in specialised elective modules is usually small (10-30 students).

Moreover, students have the option to take up to 15 ECTS in modules offered by RUB's Department of Management or in economics-related courses offered by other faculties at Ruhr University Bochum, Technical University Dortmund or University Duisburg-Essen (University Alliance - UA Ruhr). If students opt for one of the two specialisations, they need to complete 40 ECTS in electives that are allocated to the respective specialisation. Of course, students may also choose courses according to their own preferences without obtaining any specialisation.

Study abroad unit(s)

The programme structure does not mandate a study abroad semester. However, students can integrate a semester abroad in their Master's studies. Therefore, we highly encourage our students to spend a semester at one of our partner universities. Students studying abroad via an exchange programme will be exempt from tuition fees at the host institution.
Furthermore, students have the opportunity to participate in a double degree programme in cooperation with the University of East Anglia in Norwich, UK. After spending the summer semester in Bochum, students study two subsequent semesters in Norwich. Students can earn either a MSc in Experimental Economics or a MSc in Industrial Economics from Norwich. For the fourth semester, students come back to Bochum. Students receive a rebate for tuition fees in Norwich.
Each winter semester, up to ten students are admitted to "PHBS-RUB Double Master in Economics and Finance" with the Peking University HSBC Business School (PHBS) in Shenzhen, China. Successful Double Master's students are awarded two degrees: MSc in Economics (RUB) and Master of Finance (PHBS). RUB Double Master's students spend their first year at RUB and their second year at PHBS.

Internships

Internships are encouraged, but not an integrated part of the programme.

Forms of assessment

There are various forms of assessment, such as written and oral exams (usually in lectures), homework assignments (in tutorials), presentations and seminar/research papers (common in seminars). In total, students have to earn 90 ECTS through modules.
The Master's thesis is an independently written, scientific research paper in the area of economics. The Master's thesis is to completed during the course of 14-20 weeks. Students earn 30 ECTS upon successful completion of the thesis.

Course objectives

A Master's degree in economics provides you with a wide array of subject-specific and transferable skills, such as analytical skills, problem-solving, numeracy, communication and computing. Employers will value your understanding of decision-making, your acquired skills, and your experience of viewing problems in a domestic and international context.
Endowed with these essential skills, graduates of the "MSc in Economics" are much sought-after by the private sector and public institutions alike. Ultimately, our students will be equipped with the knowledge they need in order to build exciting, fulfilling careers.

Language requirements

Applicants need to have English language skills of Level B2 according to the Common European Framework of Reference for Languages. The following proof of English proficiency will be accepted:

• TOEFL (Test of English as a Foreign Language) with a minimum total score of 87 points (internet-based)
• IELTS (International English Language Testing System) with a minimum overall band score of 6.5
• Cambridge First Certificate in English (FCE) or Cambridge Certificate in Advanced English (CAE)
• proof of a Bachelor's degree with English being the medium of instruction (Evidence of this will either need to be included on a transcript/degree certificate or letter from your university, both need to be officially signed and sealed.)
• certified copy of the German "Abitur"-certificate
• Native speakers from Australia, Canada, Great Britain, New Zealand, South Africa, and the United States are exempt.

English proficiency tests other than the ones listed above, and test scores older than two years from the date of application are not accepted.

Academic requirements

A Bachelor's degree in economics or a related discipline (business, statistics, mathematics, political science, international relations, etc.) with at least six semesters of regular period of study (180 ECTS), and with coursework equivalent to at least 40 ECTS credit points in economics and at least 15 ECTS in statistics and mathematics. For detailed and up-to-date information on admission requirements please visit our website http://www.rub.de/econmaster.

Enrolment fees

Approx. 300 EUR per semester. The fee also includes a semester ticket covering state-wide public transport in North Rhine-Westphalia and entitles students to reduced rates in museums, theatres and other institutions.

Costs of living

Minimum of 670 EUR per month to cover personal and living expenses

Job opportunities

It is possible for some students who are performing well to find a part-time assistantship at one of the chairs at the Faculty of Management and Economics or elsewhere at the university. Vacancies for students are posted by means of bulletin-board flyers on campus and online (faculty's and chairs' websites), and you should apply directly to the contact person listed.
You can also find general job postings on RUB's "Jobbörse".
Please note that academic part-time jobs at the chairs are not assigned based on financial need but rather on academic merit.

Funding opportunities within the university

The Ruhr University Scholarship Fund awards scholarships to students who perform outstandingly academically and are involved in special projects. However, students need to be studying at RUB already before being eligible to apply.
http://www.ruhr-uni-bochum.de/bildungsfonds/info-studierende/en/index_en.html

Arrival support

Services provided by the programme coordinator include advice/assistance in all organisational issues, especially during the preparation phase.
Services of RUB's International Office include advice/assistance in visa affairs; foreigners' registration authority questions; accommodation as well as an orientation week each semester to acquaint international students with Ruhr University, the city of Bochum, the Ruhr area and life in Germany.

Services and support for international students

Services provided by the programme coordinator include continuous administrative and social support.
Services of RUB's International Office include advisory service for social and personal affairs, a continuous cultural programme with excursions and cultural events and intercultural tutors.

Accommodation

Accommodation is available through the "AKAFÖ" (student services) or on the private housing market. The "AKAFÖ", the academic office of support and student representation, maintains 18 student halls of residence in Bochum. Please refer to http://www.akafoe.de/en/wohnen/.