How do economic policies affect businesses and households? Why do financial crises occur? How do international developments shape our economies? And how can we use economic models and empirical data to analyse these questions?
The Master's Programme in Economics at the University of Graz provides you with the theoretical knowledge and quantitative skills needed to address such questions. Combining modern economic theory with empirical methods and real-world applications, the programme offers a research-oriented education and considerable flexibility to pursue your individual interests.
To enrol into the Master’s Programme, you must have completed a relevant undergraduate degree. If you did not complete this at the University of Graz, you must submit an application for admission to the Master’s programme.
Key facts: What the Master’s Programme Economics at the University of Graz has to offer
- A solid foundation in modern economics
Deepen your understanding of microeconomics and macroeconomics and learn how to analyse economic issues using modern theoretical and empirical models. The programme places particular emphasis on connecting economic theory with practical applications and addressing current economic and societal challenges.
- A strong focus on quantitative methods
Mathematics, statistics and econometrics, together with game theory and computational economics, form a central part of the programme. You will learn how to develop economic models, analyse data and apply computational methods to investigate complex economic questions.
- Flexibility and individual specialisation
The programme combines a common foundation in economic theory and methods with a broad range of electives. Depending on your interests, you can specialise in areas such as public economics, international economics, economic policy, development economics or environmental and climate economics. You can also complement your economic training with courses from related disciplines.
- Research-oriented education
Engage with current economic research and develop the skills needed to formulate and investigate your own research questions. A dedicated module on economic research and academic writing prepares you for your master's thesis. The programme also provides an excellent foundation for pursuing a PhD in Economics or a related field.
- International perspective and diverse career opportunities
The programme is taught in English and has a strong international orientation. It prepares you for demanding positions in business, research, public administration and international organisations. In particular, its quantitative focus opens up attractive career opportunities in economic analysis, economic research, policy consulting and data science.
FAQs
The Master’s programme in Economics comprises 120 ECTS credits and is structured over four semesters.
| MODULE | ECTS |
|---|---|
| Quantitative Methods | 12 |
| Economic Methods | 12 |
| Foundations of Economics | 12 |
| Applied Economics | 12 |
| Elective modules in Economics | 24 |
| Elective modules in related fields | 8 |
| Economic Research and Writing | 8 |
| Master’s Thesis | 24 |
| Defence of the Master’s Thesis | 2 |
| Free Electives | 6 |
| Total | 120 |
Building a strong foundation
The first part of the programme focuses on essential theoretical and quantitative skills. Core courses include:
- Mathematics and Applied Statistics
- Econometrics
- Game Theory
- Computational Economics
- Macroeconomics
- Microeconomics
Choosing your areas of interest
In the Applied Economics module, you select two of the following four courses:
- Public Economics
- International Economics
- Economic Policy
- Environmental and Resource Economics
The Electives in Economics module allows you to choose additional courses worth 24 ECTS credits from a broad range of advanced topics, including:
- Information Economics and Economic Design
- Advanced Public Economics
- Advanced Macroeconomics
- Globalization and Development
- Time Series Econometrics
- Advanced Environmental and Climate Policy
- Climate Change Economics
- Topics in Economics
Courses from Applied Economics that you have not already completed may also be selected as electives.
In addition, you can broaden your academic profile by taking courses from other disciplines within the Faculty of Social and Economic Sciences and by choosing free electives.
Developing your own research
The Economic Research and Writing module prepares you for independent scientific work. In the Economic Research and Writing Lab, you develop research questions, explore appropriate methods and strengthen your academic writing and presentation skills.
The programme concludes with a master's thesis and its defense, allowing you to demonstrate your ability to independently investigate an economic research question.
A Master's Programme Economics opens up a wide range of career opportunities in Austria and internationally.
Depending on your interests and specialisation, potential career paths include:
- Business and finance: banks, insurance companies, consulting firms and internationally operating businesses.
- Research and data analysis: universities, economic research institutes, such as WIFO and IHS, and positions in quantitative analysis and data science.
- Economic policy and public administration: government ministries, public institutions, central banks and economic policy consulting.
- International organisations: institutions such as the European Central Bank, OECD, World Bank or United Nations.
The programme also offers excellent preparation for doctoral or PhD studies in Austria or abroad.
To be admitted to the Master's Programme in Economics, you need a relevant bachelor's or diploma degree and sufficient proficiency in English.
A bachelor's degree in Economics or a bachelor's or diploma degree in Volkswirtschaftslehre from an Austrian university meets the academic admission requirements.
For applicants with other degrees from recognised higher education institutions, the following academic background is particularly relevant:
| Subject area | ECTS |
|---|---|
| Mathematics, Statistics and Econometrics | 18 |
| Specialisation in Economics (e.g. International Economics, Public Finance or Economic Policy) | 12 |
| Specialisation in Economics (e.g. International Economics, Public Finance or Economic Policy) | 18 |
| Total | 48 |
Applicants who have completed at least 48 ECTS credits in these subject areas but do not fully meet the specified distribution may be admitted subject to supplementary examinations of up to 30 ECTS credits.
If fewer than 48 relevant ECTS credits have been completed, or if more than 30 ECTS credits of supplementary examinations would be required, admission is not possible.
All applications are assessed individually according to the applicable admission regulations. Applicants must also provide evidence of sufficient English proficiency in accordance with university requirements.
Yes, admission may be possible, depending on your academic background.
Admission is not determined by the title of your bachelor's degree alone. What matters is whether you have acquired sufficient knowledge in mathematics, statistics, econometrics and economics.
If you are currently studying Business Administration and are considering a Master's degree in Economics, we recommend choosing relevant economics and quantitative courses during your bachelor's studies.
Your eligibility for admission, including any supplementary examinations, will be assessed based on your completed coursework.
