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This Master's degree programme in economics allows students both to gain a professional qualification and to prepare for a possible doctoral degree. In the first stage of this programme, students take the Master's courses. In the second stage, graduates with excellent grades can progress directly to their doctoral studies and obtain a PhD.
The programme can be fully completed in English; no advanced German skills are required.

The programme is structured as follows:
  • first semester: compulsory modules
  • second and third semesters: specialisation - elective modules

Students must choose 12 modules, including at least 10 elective economic modules within the following specialisation fields:
  • Labour Economics
  • Macroeconomics and Finance
  • Public Economics
  • Energy Markets
  • Health Economics

  • fourth semester: Master's thesis and Master's seminar

Optional doctoral phase: graduates of the programme can credit courses to their doctoral studies.

Educational organisation

In the first semester, students are given a thorough foundation in economics with six mandatory courses, including Macro- and Microeconomics, Econometrics, and Mathematics.
In the second and third semesters, students specialise by choosing from a broad range of subjects within the five specialisation fields. Students must choose 12 modules, including at least 10 elective economic modules within the specialisation. Students are able to choose two free modules from the overall faculty programme.
The participation in at least one seminar is compulsory, this serves as preparation for the Master's thesis in the fourth semester. Students are most welcome to attend more seminars.
Students can choose between research- and practice-oriented courses, so that they are perfectly prepared for their future career. With respect to the research-oriented specialisation, there is the opportunity to attend various research seminars organised by the department or by the neighbouring Institute for Employment Research (IAB).
To gain practical experience, students can do an internship at renowned companies, economic research facilities, or other (inter)national institutions and substitute one elective module with our internship-module. Writing an external Master's thesis with these companies and institutions is also a popular way for our students to smoothly transition between studying and employment.
The programme assigns personal mentors to the students and offers yearly field trips to varying cities and their respective companies and institutions.

Study abroad unit(s)

The programme supports studying abroad and thus offers easy recognition of foreign credits.

Course objectives

The programme provides you with profound knowledge in economics and prepares you for a range of careers in various fields. The main career aims are academic and analytical work for universities and research institutes, international organisations, public authorities, associations, consultancy firms, and large companies.

Language requirements

Evidence of sufficient English skills of at least B2 level of the CEFR; equivalent internationally recognised English language tests are accepted.

Academic requirements

Qualification for university entrance: school certificate (e.g. Abitur, Bachillerato).
University degree (Bachelor's degree or equivalent) with above-average grades in economics, mathematics, social sciences, engineering or related disciplines
Candidates who have not completed their Bachelor's studies at the time of application must provide an official transcript of all examination results to date and their weighted average grade. A minimum of 135 ECTS (75% of required credits for completion) are required.

Enrolment fees

The contribution to student services currently amounts to 42 EUR per semester. An additional charge of 65 EUR per semester covers the mandatory basic "semester ticket", a transit pass that provides students with unlimited access to public transport in the metropolitan region of Nuremberg from 7pm to 6am on weekdays and at all times at weekends. (For an additional optional charge, the validity of the pass can be extended to 24 hours a day, seven days a week.)

Costs of living

The cost of living can only be approximated very generally, as the needs and living conditions of every student are different.
Rent: 250-600 EUR per month
Health insurance, doctor, medicine: approximately 70 EUR per month
Food: approximately 165 EUR per month
Study materials: approximately 30 EUR per month (depending on the subject)
Transport: minimum 65 EUR per semester
Student services: 42 EUR per semester
For more information, see:
General information on the average cost of living in Germany is available online:

Job opportunities

Students have the opportunity to work as student assistants for the department chairs and for international companies (e.g. Siemens, GfK or Nestlé Schöller) in Nuremberg.

Funding opportunities within the university

The Central Office for International Affairs offers scholarships from Bavarian state funding to allow highly qualified international students in Master's, "Diplom", and State Exam degree courses to complete their degrees.

Services and support for international students

The Student Advice and Career Service (IBZ) will provide you with detailed information on all important topics relating to your studies (study courses, subject combinations, application requirements, support with organising your study programme and complying with all assessment/examination requirements) and on settling in at the beginning of the semester (coping with particular difficulties, changing subjects or suspending studies). For more information, see
The Career Service of FAU will provide you with information on career opportunities and the specifics of an application procedure in Germany. For information, see:
The Student Service Centres (SSC) and student advisers in the faculties will provide you with further advice on your particular course of study. Programme coordinators organise subject-related orientation events and guide you through the entire study period.
The Central Office for International Affairs (RIA) will provide you with detailed information on accommodation, visa issues, and scholarship possibilities. In cooperation with the IBZ, it also organises information events and general orientation courses for first-semester-students.
The Alumni network provides students with many topics and events for professional advancement. See:


Erlangen and Nuremberg are attractive cities with a historic flair and modern infrastructure. Therefore, the housing market is quite tight. FAU will do its best to assist new students in finding accommodation.
Student halls in Erlangen and Nuremberg can only provide accommodation for a small number of students. Another option is the private housing market. If you extend your search to neighbouring towns, such as Fürth and Forchheim, your choice of accommodation is much larger and rents are lower, while the well-developed local public transport system ensures that you're never far away from the university. In addition, there is the option to sublet a room, or you can share a flat with other students. This option not only saves you money but also helps you settle in quickly and make friends in your new home. You can find information to help with your housing search on specialised websites and the university's notice boards.
Detailed information on finding accommodation is available at
If you need further assistance, you can also turn to the Accommodation Service of the Central Office for International Affairs (RIA). E-mail:
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Study mode:On campus Languages: English
Local:$ 5.28 k / Semester(s) Foreign:$ 8.04 k / Semester(s)
Deadline: Jul 31, 2023 StudyQA ranking: 1234 You need IELTS certificate