The German education system offers quite a few favourable options to study economics in the renowned institutions for future economists, market analysts, investors and bankers. A lot of applicants opt for studying economics in Germany because of the high quality and prestige of German universities. Here is the list of some prominent universities that are chosen by students who are eager to study economics and relative disciplines in Germany: Ludwig Maximilian-University of Munich, Bonn graduate school of economics, University of Mannheim, Freie University of Berlin, Humboldt University of Berlin, University of Frankfurt am Main (Goethe University Frankfurt), University of Göttingen

How much does it cost to study economics in Germany?

Studying economics in Germany generally doesn’t require great investments. The current situation is quite favourable for students both domestic and international. Undergraduates at public universities in Germany can study for free, with just a small fee to cover administration and other costs per semester. Nevertheless, nobody knows how long this free education system in Germany is going to last because some examples of reintroducing tuition fees for non-EU students have recently taken place. Private institutions in Germany are usually dependent on tuition fees for their funding and set their own fees for studying economics up to €20,000 per year. As far as Master’s degree in economics in Germany is concerned, tuition fees for “non-consecutive” Master’s degrees vary between universities and may be around €5,000 per year at public institutions and up to €30,000 at private German universities.

How much does it cost to live in Germany?

Apart from tuition fees or their absence for studying economics in German universities, the cost of accommodation and living has to be taken into account as well. The average cost of living, concerning accommodation, transport, food etc., is about €9500-10000 per year depending on the region. Basically, the choice to study economics in Germany is comparatively cheaper than, for instance, in the UK, but also includes some notable costs, regarding costs of living in Germany, renting an apartment or paying for living in a student hall.

All in all, the decision to study economics in Germany and applying for one of the aforementioned German universities for the programs like MA in Economics and Management Science, or MA in Development Economics, or MA in Science in International Economics and Economic Policy with subsequent graduation may be more than beneficial. The prestige of the institution and its influence on the student’s future prospects as well as acquiring fundamental theoretical basis and strong practical skills applicable in the modern economic reality – that’s what study economics in Germany means.