MS in Economics in Germany: Top Germany Education Consultant

Germany, with its great tradition in economic thinking, thus hosts some of the finest universities globally for an MS in Economics student. The country has an exceptionally good environment for students planning to pursue an MS in Economics.

Germany has the largest economy in Europe and the fourth-largest in the world. Having a GDP of over €4 trillion, Germany forms one of the central cores of the European Union, leading globally in industries such as automotive, engineering, and technology. Pursuing an MS in Economics in Germany is a strategic choice.

Successcribe takes you through everything you need to know about studying for your Masters in Economics including the top universities, admission requirements, career prospects, and why to study in Germany.

Top Universities for MS in Economics in Germany 

Germany is home to some of the leading universities that provide the master’s program in Economics in Germany. These universities are ranked as top universities in global ranking and the graduates from these universities are highly recognized and respected in the job market.

The Top Universities for Masters in Economics in Germany are following:

Also Check: Cyber security in Germany Public Universities

Why Study MS in Economics in Germany?

Reasons why Germany is considered the best place for MS in Economics:

• Top-notch education: As a country, Germany hosts some of the best universities around the globe, such as the Ludwig Maximilian University of Munich and the University of Mannheim, which have both acquired international reputations due to their brilliant programs in economics. It has institutions featuring in the QS top 100 rankings in economics, therefore one is assured of getting the most up-to-date research exposure and a challenging academic environment.

• Low tuition fee: The majority of public universities in Germany do not charge tuition, except for some cases wherein international students are asked to pay. For example, students normally just have to bear the semester fee of around €200-€500 per semester for public transport.

• Strong Employment: Having the lowest unemployment rate in the whole of Europe, mainly below 5%, the strong economy in Germany, especially in the field of finance and consulting, coupled with public policy, allows high prospects for economics graduates.

• High Research Output: German universities contribute towards global research in economics with more than 20,000 research papers every year. The tight research background in such an environment thus enables students to work on extremely innovative projects together with top-notch economists.

• Many Career Opportunity Paths: A graduate can start working upon graduation in any field, such as finance, public policy, international institutions, and academia. Some illustrative facts: starting working economists with a Master’s in Germany earn €45,000-€60,000 a year and have good opportunities to further climb the career ladder.

• Networking Opportunities:  Over time, it places individuals at an advantageous networking junction through the European Central Bank located in Frankfurt and other multinational companies. This avails the gateway opportunities to the students in very essential networking and internship areas.

• Quality of Life: In the case of health and transportation safety, Germany stands at the top of the indices. Barring this, the nation also hosts over 10,000 cultural fests across different cities and towns, offering an excellent treat to international students

Job and Salaries after Completing MS in Economics in Germany

The strong and diversified economy of Germany offers several career options to students who have completed their MS in Economics. With a strong interest in Economics, graduates earn really good in the market. Professional Economists are always in high demand in the job market. Some of the Job roles along with their salary are mentioned below:

Requirements for MS in Economics in Germany

Candidates must meet the following criteria to study for their MS in Economics in Germany

• Applicants must have a Bachelor’s Degree in Economics or a Specialized Subject related to Economics with a minimum percentage of 60 – 70%.

• Evident language proficiency through the following, either one of the below:

For English-taught programs: IELTS- 6.5 and above; or TOEFL – 90 and above.

For German-taught programs: Goethe – B2 level and above; DSH- Level 2/3.

• APS Certificate: This is for students from India and a few other countries.

• Proof of Financial Means: Blocked account totaling €11,208 or a scholarship/sponsorship.

• Health Insurance: Mandatory for all students. The public insurance will be €110 per month.

• Documents for Application:

SOP

LORs (2-3)

CV

Transcripts

• Visa Application: APS certificate, proof of financial means, health insurance, and a letter of admission are required. Sometimes, it may take 2-3 months for processing.

• University-Specific Criteria: This might include entrance exams, work experience, or other document requirements.

Successcribe is ready to help you from the collection of the right documents to securing your APS certificate and guiding you through the visa process, even the university applications and blocked accounts are taken care of. Our highly personalized counseling will ensure that you move through all the requirements with ease so that you remain focused on your future. Successcribe can turn your dream of studying in Germany into a reality.

Scholarships available for International Students 

For MS in Economics in Germany, there are different scholarships available for international students. Students with high grades in their academics are eligible to apply for these scholarships. Some of the scholarship names with their expected amount is below down in the table:

Cost of Living for International Students 

Although the cost of living is reasonably inexpensive in Germany compared to the other EU countries, there is a significant difference concerning which city one would wish to live in. Below is an estimate of the average month-to-month expenses for international students:

Accommodation:

Rent: € 300 – € 700; Shared apartments or student dormitories

Utilities: € 100 – € 200; Electricity, heating, water

Food:

Groceries: € 150 – € 250

Eating Out: €50 – €100

Transportation:

Public Transport Pass: €30 – €100, depending on the city

Bicycle Purchase (Optional): €50 – €200; this is a one-time cost

Health Insurance:

Public Health Insurance: €110 – €120 per month

Private Health Insurance: Varies, usually more expensive than public insurance

Other Costs:

Study Materials: €20 – €50

Internet/Phone: €30 – €50

Leisure Time: €50 – €100

Total Estimated Monthly Cost:

Total: €700 – €1,200 per month

These costs approximate well how much you might expect to pay for your MS in Economics studies in Germany. In general, expenditure is lower in smaller cities and might be on the higher side in bigger cities like Munich and Berlin.

Conclusion

World-class education, outstanding job opportunities, and a lively cultural experience are the following described features, which combined, make an MS in Economics in Germany one of the best courses in Germany. Highly ranked universities in Germany offer one of the best study environments to pursue studies. More so, the low fees are accompanied by numerous scholarship opportunities, making it affordable to most international students.

An equally strong economy and a diversified job market in Germany mean that the graduates will be equally prepared for successful careers in the fields of finance and public policy. Our philosophy at Successcribe focuses on seeing you through the university selections and visa process, with the ultimate intention of making your stay and study in Germany a successful and smooth experience. Let us turn your academic aspirations into reality.

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