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  • Tuition Fee:
  • / Year
  • Foreign: $ 11.3k / Year
  • Languages of instruction:
  • English
  • Deadline:
  • 15 March 2016

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    The two-year elite International Master of Science in Quantitative Economics (IMSQE) programme is a special programme offered by the Department of Economics and Business. The programme corresponds to 120 ECTS credits within the areas of economics, econometrics, finance, and accounting. Enrolled students can tailor their own study programme on the basis of a range of advanced-level core courses with a quantitative orientation, including selected PhD-level courses. The programme requires strong analytical skills in quantitative methods, and there are special requirements regarding the level and qualitative content of written assignments.

    Outstanding international research environment

    The elite programme is an international programme. The department is renowned for setting high academic standards and collaborates closely with many internationally recognised researchers. The IMSQE programme is based on the department’s outstanding research environment, covering broad areas of economics, finance, accounting and econometrics. A core part of the department’s research environment is the Center for Research in Econometric Analysis of Time Series (CREATES), with Nobel Laureate Robert F. Engle serving as a member of the centre’s advisory board.

    Your own personal academic ADVISOR

    Each student enrolled in the IMSQE programme is assigned a personal academic advisor from the department’s academic staff.

    Outstanding analytical skills

    The programme provides students with outstanding analytical skills.

    IMSQE graduates often find work at large consultancy firms and financial institutions.

    Continue at PhD level

    The IMSQE programme provides an excellent opportunity for graduates to continue studying at PhD level, and the department offers a special transitional arrangement for IMSQE students who wish to continue research training as part of the PhD programme.

    The IMSQE programme is a two-year, full-time programme of instruction corresponding to 120 ECTS credits within the areas of economics, econometrics, finance and accounting. The courses in the IMSQE programme consist of a mixture of regular MSc courses with a quantitative orientation and PhD courses offered through the PhD programme in economics and management. Furthermore, there are special requirements regarding the level and qualitative contents of written assignments, and particular emphasis will be put on the students analytical, quantitative skills.

    Besides the courses constituting the formal program of study, the students are expected to take a number of special, intensive courses at the PhD level offered through various network programmes like the Danish Graduate Programme in Economics (DGPE) and the Danish Doctoral School of Finance (DDSF). Further, a Summer School will be organized in August between the first and second year, where the students must attend lectures for two weeks and prepare a written report.

    A personal academic advisor - or mentor - from the corps of faculty associated with the programme will be appointed to each student in the IMSQE programme. The advisor will assist the student in putting together the individual study programme.

    Course Work

    The course work makes up a total of 80 ECTS credits. The IMSQE programme has a number of core courses that are guaranteed to run annually (each course is equivalent to 10 ECTS credits). The courses labeled advanced are PhD level courses which presuppose that the student has acquired substantial knowledge of the field beforehand, typically by following courses at the MSc level. The core IMSQE courses are:

    • Micro 2

    • Macro 2

    • Time Series Econometrics

    • Micro-Econometrics

    • Derivatives and Risk Management

    • Accounting for Decision and Control

    • Mathematical Analysis

    • Advanced Microeconomics

    • Advanced Macroeconomics

    • Advanced Econometrics

    • Advanced Corporate Finance

    • Advanced Financial Economics

    • Advanced Financial Econometrics

    • Advanced Accounting

    However, to allow for additional flexibility, the student may in consultation with his/her advisor - choose to complement the courses above with a (limited) number of other courses, which may be of particular interest to the student. The general requirement is that these additional courses should have one of the core IMSQE courses listed above as a required course (this will follow from the relevant course description). Examples of such courses are (it cannot be guaranteed that all of these courses will be offered on an annual basis):

    • Fixed Income and Credit Risk
    • Corporate Finance and Governance
    • Macro Labor
    • Labor Economics
    • Economics of Education
    • Industrial Organization
    • Advanced Programming
    • Applied Time Series and Financial Econometrics
    • Applied Micro Econometrics
    • Computational Methods in Econometrics

    Finally, the student may apply to the Study Board to get other courses approved (that will require approval from the advisor of the student and from the Director of Research).

    Written Work

    In addition to the course work, written work makes up the remaining 40 ECTS credits. Of these 10 ECTS credits must be earned by completing a written assignment, while the final MSc thesis is equivalent to 30 ECTS credits. In the assessment of the final thesis, special emphasis will be put on the students analytical, quantitative skills. The thesis may thus be shorter than a regular MSc thesis, but a very high level of independence is required. The student must defend the thesis orally at a public defence where an external examiner will also be present.


    University requirements

    You apply online through the Aarhus University self service system. To be able to apply online, you first have to create a self service account. Once you have created your account and logged on the self service system, please select the option "Application form for free movers (non-exchange)".

    Please be aware that you need to start your application within 24 hours of creating the self service account.

    To best prepare your application, it is important to understand the structure and the different locations of Aarhus University. Aarhus University has three different campuses (located in Aarhus, Herning and Emdrup) and is divided into four faculties, which are subdivided into 26 departments.

    Remember when choosing courses that you may only take courses at one location and within one faculty. You may not choose courses at more than two different departments. 

    It is important that you have a relevant academic background for the courses that you apply for. You must have taken courses at your home university within the specific subject field you have applied to in order to be accepted to any of the departments. 

    EU students can sign up for 5 ECTS to 30 ECTS during a semester. To obtain a study and work permit, students from outside the EU/EEA have to study 30 ECTS in total (20 ECTS at one department). If you choose courses at more than one department, it is important that you choose at least 20 ECTS at one department. Students applying for courses at Aarhus BSS, should only apply for courses at one department.

    At the application form, you can apply for housing as well, if needed.

    Documents to be attached with your online application:

    You will be required to attach the following documents to your application:

    • Official transcript of records from your home university (must be in pdf format and must be in English!)
    • Copy/Scan of passport
    • Transcripts from bachelor studies (for master students only)

    Students applying to Aarhus BSS only: Students must upload a letter confirming that they will be able to transfer credits from Aarhus University to a degree at the home institution. If you cannot provide this documentation, you will be assessed according to the admission requirements of the relevant degree programme(s). Students can complete and upload this template or a similar document from the home university.  

    Processing times and notification

    You will be informed approximately six weeks prior to semester start whether you meet the prerequisites to be enrolled in the requested courses. However, as enrolment in courses for free mover students is dependent on available space in the relevant courses, you will not receive final confirmation about course enrolment until approximately two weeks prior to semester start. If there is space left in the courses, you will receive a notification about this and an invoice. Only after the invoice has been paid in full, will you receive a Letter of Enrolment and be enrolled in the requested courses. Please be aware that due to this procedure, Aarhus University cannot guarantee that free mover students will be admitted and enrolled in courses by semester start. 


    Program requirements

    Access to the Masters programme in Quantitative Economics at Aarhus University requires successful completion of a BSc.oecon, BSc.polit, BSc.scient.oecon or similar from Danish universities or an equivalent/similar degree from non-Danish institutions (e.g. a BSc in Economics or Mathematical-Economics).For applicants with a Danish BSc degree a grade point average of 8.5 (new Danish grading scale) is required. Applicants with a BSc degree from a non-Danish institution a grade point average of B (the ECTS grading scale) is required. Applicants failing to meet the requirements in terms of grade point average may be admitted due to excellent performance in courses of particular relevance for the IMSQE programme.Only students who meet these requirements should apply.English language requirementsSince English is the language of instruction in all subjects, all applicants are required to provide evidence of their English language proficiency. English Language Requirements IELTS band: 6.5 TOEFL paper-based test score : 560 TOEFL iBT® test: 83
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