Management and Economics

The environment in which firms, consumers and governments act today calls for a systematic analysis of strategic interaction, comprehensive decision-making processes, and flexible adaptation strategies. The M.Sc. Program in Management & Economics offers a unique education that combines state-of-the-art management tools with game-theoretic concepts.

Managers of today’s firms operate in a global environment and must be prepared to quickly react to changing business and market conditions, competitors’ actions, and internal governance problems. The Management & Economics program gives students extensive insights in business and market environments with a core focus on managerial economics, personnel economics, and industrial organization.

The courses offered in the program deal with the strategic behavior of competing firms and focus on implementing management tools within the firms to provide an informational basis for successful business strategies, show how to use the firm’s accounting system for decision-making purposes, and account for potential information asymmetries. Moreover, students learn how to select appropriate performance measures, design efficient incentive systems, and develop strategies to build up and maintain the human capital needed in the firm.

Students of this program develop analytical and professional skills and learn how to apply advanced methods of game theory and principal-agent-theory to understand the implications of strategic interaction among different players.

The M.Sc. in Management & Economics is designed as a 3-semester program, taught according to the European Credit Transfer System. Successful completion requires students to achieve a total of 90 ECTS credits.

Compulsory courses teach the essentials of management and economics and emphasize the link between both areas. Specialization studies allow students to specialize according to their individual interests and abilities. Electives can be chosen from courses in business studies and in economics. 
Successful completion of the program also requires students to attend a Ph.D.-oriented seminar (6 ECTS credits) and to write a master thesis in English or German during their third and final semester. 

Admission to the Master of Science in Managerial Economics requires a Bachelor’s degree in Economics or Business Administration with excellent grades, preferably a degree that amounts to 210 ECTS credits. Applicants are expected to have solid intermediate level knowledge in quantitative methods of economics and microeconomic theory. Applicants must be fluent in English. Students entering with a 3-year Bachelor’s degree (amounting to 180 ECTS credits) are required to earn 30 additional ECTS credits (adding a fourth semester) in order to obtain a Master’s degree. This program is tuition-free.