Economics

Study mode:On campus Study type:Full-time Languages: English
Foreign:$ 1.59 k / Year(s) Deadline: Feb 5, 2025
164 place StudyQA ranking:6060 Duration:2 years

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The Master program in Economics will give those familiar with economics the tools and insights to understand research and to be ready to perform policy analysis.

You will be given intensive courses in the main topics of economics to deepen your understanding of economics. You will also have lots of freedom and even to a small degree be required to take courses from other fields, in particular from business, management and finance.

There are two tracks. The academic track prepares for doing research and is the best choice for those who wish to later study for PhD in Economics. The nonacademic/business track puts more emphasis on the applied economics and on an education beyond economics.

Structure

Study focus A (academic orientation)

Compulsory module (52 ECTS)

  • Growth and Business Cycles
  • Microeconometrics
  • Macroeconometrics
  • Game Theory and Information Economics
  • General Electives

Alternative group of compulsory modules (44 ECTS)

  • Advanced Microeconomics
  • Dynamic Macroeconomics with Numerics
  • Specialization in Economics

Conversatorium for Masterstudents (4 ECTS)

Master thesis (16 ECTS)

Master examination (4 ECTS)

 

Study focus B (non-academic/business orientation)

Compulsory module (52 ECTS)

  • Growth and Business Cycles
  • Microeconometrics
  • Macroeconometrics
  • Game Theory and Information Economics
  • General Electives

Alternative group of compulsory modules (44 ECTS)

  • Consumption, Production and Welfare B
  • Applied Economics
  • Specialization

Conversatorium for Masterstudents (4 ECTS)

Master thesis (16 ECTS)

Master examination  (4 ECTS)

The Bachelor Study Programme of Economics and a Bachelor Degree in Economics will be recognized without further requirements for admission to the Master Study Programme of Economics. Graduates from other faculties at the University of Vienna or other equivalent university studies in foreign countries that total at least 180 ECTS from local or foreign post or secondary education will require:

Excellent knowledge of English through previous study which should be supported by the following minimum requirements: 

  1. Completion of a degree taught in English, or
  2. Language certificate that is not older than three years with the following minimum requirements: 
  • TOEFL:  ibt (internet-based);  at least 110;
  • IELTS:  Overall Band Score:  7; 
  • Cambridge Certificate in Advanced English (CAE):  from Grade C (a minimum of 180 points);
  • Cambridge Certificate of Proficiency in English (CPE):  from Grade C;
  • Language Centre of the University of Vienna: language competence proof to level C1.

A minimum of 150 should be reached in the Part Exam of the GRE revised General Tests on the topic “quantitative reasoning” within the last two years  

The GRE revised General Test is a standard test, which consists of three parts: 

  • Verbal reasoning;
  • Quantitate reasoning;
  • Analytical writing.

The Quantitative Reasoning section, in which mathematical knowledge is examined and a total maximum of 170 points can be acquired, is decisive.
In order to evaluate the equivalence of your degree please include in your application the hours per week and ects in all of your courses. In particular you need to demonstrate that you have acquired sufficient knowledge in the following fields: microeconomics, macroeconomics, game theory, statistics, econometrics and analysis (mathematics). Note that you may be given acceptance subject to taking some additional courses in our bachelor program in case you are missing sufficient background in up to two of these six areas.

Specific admissions requirements are listed in the curriculum. Application for admission is made through the University of Vienna's central admissions office.

Scholarships and grants related to the programme (provided by organizations other than the university):

ERASMUS

Students may be awarded an Erasmus+ EU grant to help cover the travel and subsistence costs incurred in connection with their study period abroad.

Erasmus+ students - whether or not they receive an Erasmus+ EU grant - are exempted from paying fees for tuition, registration, examinations and access to laboratory and library facilities at the host institution.

Scholarship of the Scholarship Foundation of the Republic of Austria 

Eligible for application are: descendents of forced labourers (regardless of their country of origin) or people coming from countries that have suffered exceptionally from the Nazi regime, especially from the recruitment of forced labourers.

Students meeting the above mentioned criteria can apply to pursue research on their bachelor thesis, on their diploma or master thesis or their dissertation.

Federal Aid for Students - Study Grant 

The federal aid measures of Austrian study financing can be divided into two sections: transfer payments, which students receive directly in cash (direct study financing), and expenses which students benefit from either by transfer payments to the students’ parents or non-cash benefits (indirect study financing).

Direct Federal Aid for Students

As a rule, direct federal aid to students is only granted on the basis of differentiated social criteria and only in cases of concurrent academic advancement. There are only a few cases of direct federal aid awarded to students purely on the basis of performance criteria. 

If you are a non-Austrian citizen, you must fulfil some special conditions to be granted equal status with Austrian citizens regarding all kinds of direct federal aid for students. Due to the complexity of the legal parameters it is mandatory that non-Austrian citizens contact the responsible study grant department for further information! 

  • Study grants
  • Grant near completion of studies
  • Study allowance for tuition fees
  • Student financial aid
  • Transport cost allowance
  • Child care subsidy
  • Insurance cost subsidy
  • Performance-related grants
  • Mobility grant
  • Incentive grants
  • Grants for study abroad (Travel cost allowance, Subsidies for language courses)
  • Orphan’s pension for students
  • Subsidized loans 

Indirect Federal Aid for Students 

Indirect federal aid for students, which represents an important component of social support during the course of studies, consists mainly of financial resources made available to students’ parents (and/or students via their parents). The legally determined obligation of the parents to care for their children until they developed a capacity for self-preservation constitutes the foundation of entitlement to this type of financial aid. Federal aid for students should provide support to parents in this effort. There are subsidies designed to be made available to students by subsidies for or reductions of certain expenses. The supportive character of these measures is indicated by the fact that indirect federal aid for children usually terminates at the end of a child’s 18th year of age. In case of students this period may be extended to the age limit of 24 or 25 years. 

Non-EU Student Exchange Program - Incoming Students

Students from non-European partner universities are entitled to study at the University of Vienna for one or two semesters under the Non-EU Student Exchange Program, provided the University of Vienna has concluded an exchange agreement with the student's home university and that the student has been nominated by the partner university.

Please note that you will need to be able to understand, speak and write German at an adequate level if you want to study at the University of Vienna.
Most of the courses are held in German. The following departments usually also offer some courses in English: Business, Law, English and American Studies, History, Political Science, Anthropology, Philosophy etc. 

ERASMUS - Incoming

Students from ERASMUS partner universities may spend one or two semesters at the University of Vienna within the ERASMUS programme. 
Participation in the programme is based on a bilateral agreement in the relevant field of study with the partner university, and on the student's nomination for an ERASMUS stay by the partner university.

Students should contact their home university to be nominated as an ERASMUS student at the University of Vienna (ERASMUS Code: A WIEN01). The nomination has to be done via our online nomination system.

ERASMUS students who wish to study at the University of Vienna do not need to have an official language certificate. However, during the online nomination procedure your home university must confirm sufficiant language skills when taking up your studies at the University of Vienna.

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