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Economics and Institutions
Master of Science
Economics and Institutions (Master of Science)
Degree Programme
The M.Sc. programme ‘Economics and Institutions’ is offered by the School of Business
and Economics. The duration of the degree program is 2 years or 4 semesters. The
awarded degree is ‘Master of Science’.
Characteristics of the M.Sc. Programme
The course offers rigorous training in all major fields of economic theory and policy. Its
focus on the economic analysis of institutions is unique. The economic analysis of
institutions comprises the study of formal and informal rules that are backed by
sanctions. Institutions are important in all areas of economic interactions in practice and
too often they are not given adequate consideration by researchers who believe in
frictionless markets. Institutions play a role in almost all social processes in the real
world, e.g. the existence of principal-agent relationships in many organisations such as
firms or governments, the design of specific institutions in economic policy such as
Competition Laws or Central Bank Laws, or the voluntary provision of public goods as in
co-operatives or by micro-credits in developing countries. Students gain insights into
these issues and are exposed to solution concepts that are suitable for many economic
problems found in practice.
Economic research and training is highly internationalised in Marburg, as all academic
staff members have established strong, sustainable partnership programmes and joint
research projects with universities in Europe, the USA, and other parts of the world. The
focus of the faculty on institutional economics is underlined by MACIE, the Marburg
Centre for Institutional Economics, which recently celebrated its 50th anniversary. The
Economics staff emphasises the importance of a friendly and open teaching
environment. Students are welcome to approach professors and engage in debates on
relevant economic issues.
Aims
The Master of Science in Economics and Institutions at the Philipps-Universität Marburg
is designed to provide students with a comprehensive training for a career as a
professional economist in government or business, as well as a solid basis for an
academic career.
Structure
Detailed Curriculum
Following the Bologna-Guidelines on European university education, the course is
structured in a way that 30 credit points (ECTS) should be achieved every semester. A
Credit Point reflects a workload of approximately 30 hours per Semester. The different
parts of the master’s programme consist of up to 120 ECTS. The programme comprises
the core areas ‘Research Methods’, ‘Institutional Economics’, a specialisation in either
‘Economic Policy’ or ‘Money, Accounting, and Finance’, ‘Key Qualifications’, ‘Electives’,
and the ‘Master Thesis’.
To accommodate the increasing demand for Economists equipped with methodical
skills, in the Research Methods (12 CP) students are trained in a variety of analytical
tools, such as Microeconomics, Empirical Macroeconomics, or Empirical Institutional
Economics.
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The area ‘Institutional Economics’ (36 CP) provides students with broad competences in
the field of economics at an advanced level. Again, the focus is to strengthen the
methodical skills of the students while applying these to practical economic problems.
In the ‘Economics Specialisations’ (18 CP), students select either ‘Economic Policy’ or
‘Money, Accounting, and Finance’ to deepen their knowledge in the respective fields. At
least two seminars are mandatory, underlining the importance the programme places on
developing practical and transferable skills.
The ‘Electives’ (18 CP) help students to focus on their favoured profile of qualification.
Students can get insights into a number of related fields, in particular business- and
management-oriented problems, social sciences, languages, or further deepen their
economics skills.
The idea of the ‘Key Qualifications’ (6 CP) is to supply the students with job specific
qualifications which should facilitate their lifelong learning process. This may involve
participation in research work, seminars on ‘Economic and Business Soft Skills’ and/or
tutoring at the Bachelor’s level.
The ‘crowning achievement’ of the course is the Master Thesis (30 CP) that allows
students to apply the skills they have acquired during the programme. They can choose
an economic research topic and undertake theory- or policy-oriented research using a
multitude of possible methods under the guidance of an experienced professor.
Occupational Fields
Practical Qualifications
Due to the unique combination of specific training in the economic analysis of
institutions and general Economics courses in all core fields, graduates from this
programme will be well-equipped to tackle many practical problems. Scientific writing
and presentation skills pertaining to real world applications are trained in seminars that
constitute a major part of the course. In addition, jobs for professional Economists
(financial sector, international organisations, research institutions, public administration,
etc.) typically require a solid training in research methods. Reflecting this demand, the
course also offers a broad menu of analytical tools, ranging from game theory to
empirical methods.
Thinking beyond Boundaries
While the focus of the programme is on economics, students have the opportunity to
study other fields, such as business administration, social sciences, humanities or
languages. Key qualifications, for example presentation and discussion skills, will be
trained extensively.
Preparing for Research
While addressing the job requirements of many economists working in applied fields,
this programme exposes the students to research. Students get many opportunities to
write their own small (research or policy) papers and present and discuss these in class.
The last semester will be devoted to writing a Master’s Thesis that allows students to
address real-world or theoretical questions using modern research methods under the
guidance of research-oriented professors. Thus, the MSc Economics and Institutions will
be an excellent preparation for doing further research to obtain a PhD.
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Further Information
Further information on the degree programme “Economics and Institutions” is provided
on the website: www.uni-marburg.de/fb02 > Study > study programmes > Master of
Science in Economics and Institutions. The “Factsheets” available in the download
section provide detailed information on selection criteria, admission process and
structure of the programme. You can find the general course catalogue at:
https://qis.verwaltung.uni-marburg.de.
Admission and Application
Applications must reach Uni-Assist, an agency processing application material for the
University of Marburg, between May 1 and July 15 for admission in Winter Semester or
November 1 and January 15 for Summer Semester. Submitting your application material
as early as possible is recommended for international students who require a visa for
Germany. Applicants can find further information and access to online application (via
Uni-Assist) at www.uni-marburg.de > Student Life > What can I study > Degrees offered
> Economics and Institutions (M.Sc.) > Admission standards and form. Again, the
“Factsheets” provide comprehensive information. Link: www.uni-marburg.de/fb02 >
Study > study programmes > Master of Science in Economics and Institutions >
Downloads > Factsheet Application. Applicants with foreign qualifications: Please do not
hesitate to contact the International Office (see below) with any questions you might
have.
Admission Requirements
Applicants must fulfil the following admission requirements:
• A certificate for a completed B.A. or equivalent with emphasis on economics
or social science. During their course of studies, applicants should have
acquired at least 90 credit points (ECTS) in economics, business
administration, or economics-related methods as well as relevant sciences
(e.g. mathematics for economics students, statistics, etc.).
• A certificate of English skills at a C1 level of the Common European
Framework of Reference for Languages by the Council of Europe (see
below).
If students do not have completed their course of studies at the time of application, they
have to submit a transcript of records including a preliminary grade, calculated on the
basis of at least 144 ECTS credits.
For further information on the required level of English skills according to the Common
European Framework of Reference for Languages by the Council of Europe or on other
admission
requirements
please
see
the
website:
www.unimarburg.de/studium/bewerbung/sprachnachweise/sprachniveauc1?set_language=de
(currently only in German)
Application Factsheet for the Master of Science Economics and Institutions: www.unimarburg.de/fb02 > Study > study programmes > Master of Science in Economics and
Institutions > Downloads > Factsheet Application.
Credit Importation
According to the European Credit Transfer System (ECTS) the following credit points,
examinations and durations of study will be taken into account: Credit points,
examinations and durations of study from other German universities or
universities/colleges from other European countries of the Bologna declaration, as well
as from German universities of applied sciences (‘Fachhochschulen’).
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Information and Counselling
Mathias Born
Universitätsstraße 25, room 32
Tel.: 06421/28 25645, E-Mail: [email protected]
Course guidance service (ZAS)
Address:
Consultation hours:
Email:
Internet:
ZAS, Biegenstraße 10, 35032 Marburg
Monday 9.30 -12.30 and Wednesday/Thursday 14.00-17.00
[email protected]
www.uni-marburg.de/zas
Hotline für Fragen rund ums Studium
ZAS – Zentrale Allgemeine Studienberatung
Biegenstr. 10 • 35032 Marburg
www.uni-marburg.de/studium
[email protected]
Druck: Druckzentrum der Philipps-Universität