Masters in Economics in Germany is a 2-year full-time program. It is a course in the study of micro and macroeconomics, game theory, international economics, quantitative techniques, etc. The average semester fees charged for a masters in economics in Germany range around EUR 120 (INR 10,777.76) - EUR 1500 (INR 1,34,721.99) per semester. All how to do masters in Germany queries include if German is required for the course. Well, most universities do require German during the admission process. You can apply in the private and public universities of Germany in summer and winter intakes.

We have given above an ROI graph. To explain it, ROI or Return of Investment is the monetary return value that you receive after studying in Germany. It is calculated in percentage value. The cost of studying in Germany along with your living expenses is your total value. In return for the expenses, the average salary you receive is your benefit. From the above graph we can see that University of Kiel provides the maximum return on investment equal to 578%. On the other hand, the University of Hamburg provides the least amount of return, 137%.

Now let us consider what are the requirements for masters in Germany. To study in the top universities in Germany for masters in economics, a bachelor degree is required. Moreover, the English Language Proficiency test scores of IELTS, TOEFL, PTE are also mandatory. The universities in Germany also require evidence of German Language Proficiency, such as TestDaf, DSH, Goethe, etc.

Why Study Masters in Economics in Germany?

To study in Germany, for masters in economics, you must enrol in the top universities of Germany. The universities in Germany provide many specializations in economics courses. We suggest that before applying, you must check the course page of a particular university. The below given points show why Germany is best for masters in economics:

• The universities in Germany such as University of Mannheim, LMU Munich, University of Bonn and others rank in the top 100 of the Times Higher Education World Rankings for Economics.
• It is reported that the demand and salary of economists in Germany increase by 16% every year.
• Germany has a growing economy, hence the rate of unemployment here is very low. The rate of unemployment is just 3.1%.

Top Universities in Germany for Masters in Economics

Best universities in Germany for masters in economics do not charge any tuition fees. A nominal semester fee is charged from the candidates. The universities in Germany accept applicants in two intakes of Germany, which are the summer and winter terms. The table given below shows the universities in Germany for masters in economics courses:

University	Semester Fees	Deadline 2024
Ludwig Maximilian University of Munich	EUR 129 (INR 11,586.09) per semester	April 30
Humboldt University of Berlin	EUR 307 (INR 27,573.10) per semester	May 31
Heidelberg University	EUR 151.05 (INR 13,566.50) per semester	September 30
University of Freiberg	EUR 1500 (INR 1,34,721.99) per semester	Summer Semester: May 15 Winter Semester: September 30
University of Tubingen	EUR 1500 (INR 1,34,721.99) per semester	May 15
RWTH Aachen University	EUR 303.49 (INR 27,257.85) per semester	September 1
University of Bonn	EUR 320 (INR 28,740.69) per semester	March 31
University of Hamburg	EUR 11,000 (INR 9,87,961.29) per year	March 31
University of Mannheim	EUR 1500 (INR 1,34,721.99) per semester	May 15
University of Kiel	EUR 120 (INR 10,777.76) per semester	Summer Semester: January 15 Winter Semester: July 15

EUR 1 = INR 89.81 as on March 29th 2024

How to Apply for Admissions?

To know how to do a masters in Germany, then the most important part is to acknowledge the correct application process. Some universities even charge an application fee from the candidates to apply to German Universities. The universities in Germany also recommend every applicant to pay any kind of fee through their official payment's portal. Given below are the application step for master's in economics in Germany:

• Select a university
• Visit the official website of the university
• Fill up the application form
• Provide the academic personal and professional details
• Mention the English language and German Language Proficiency test scores\
• Provide the supporting documents as required
• Pay the application fee if required
• Submit the application

Eligibility Criteria for Admissions

The eligibility criteria for pursuing courses of MS in Germany may depend on the university you are applying for. Pursuing economics in Germany would require the proper evidence of English and German Language Proficiency test scores. Some universities may also ask for a GPA score. The below-mentioned are some points to know what are the requirements for masters in Germany:

• A bachelor’s degree in a related field is preferred
• Minimum GPA score of 3.0
• Proper scores of English and German Language Proficiency tests
• Work experience may be required in some universities

Documents Required for Admissions

The documents required for admissions may vary according to your place of residence. A valid passport and German student visa are mandatory for admissions. Documents as required in a university must be submitted along with the application form. Given below are the important documents required at the best universities in Germany for masters in economics:

Masters in Economics in Germany Score Requirements

Apart from the general eligibility criteria, you would also be required to submit scores of certain exams to study in Germany. If you are worried about what are the requirements for masters in Germany, then let us inform you that scores of IELTS, TOEFL, TestDaf, DSH are required. Attach your test score report along with your admission form. The below-mentioned table shows the master degree in economics in Germany score requirements:

University	English Language Proficiency Test Scores	German Language Proficiency Test Scores
Ludwig Maximilian University of Munich	TOEFL Score: 80 IELTS Score: 6.5	TestDaf, DSH, Goethe scores required
Humboldt University of Berlin	TOEFL Score: 72 IELTS Score: 5.5	DSH: Score required TestDaF: Level 4 Goethe: Official score required
Heidelberg University	TOEFL Score: 79 IELTS Score: 6.5	Scores required are TestDaF Goethe certificate B2 or C1 Deutsch C1 Hochschule
University of Freiberg	TOEFL Score: 70 IELTS Score: 5.0-6.0 PTE Score: 42-58	DSH 1 TestDaF 3 or 4 Goethe certificate B2 or C1
University of Tubingen	IELTS Score: 6.5 or more TOEFL Score: 79 or more	DHS Certificate: B2-C1 TestDaF Certificate or Telc C1 scores required
RWTH Aachen University	TOEFL Score: 100 IELTS Score: 7.0 PTE Score: 70	TestDaf, DSH, Goethe scores required
University of Bonn	TOEFL Score: 72 IELTS Score: 6.0 PTE Score: 59	Goethe Certificate B1 (min. 75% in the overall result) Telc Certificate B1 (min. 75% in the overall result) TestDaF Certificate showing the minimum level of TDN 3
University of Hamburg	TOEFL Score: 70 IELTS Score: 5.5	Test Deutsch: 16 points Goethe-Certificate C2 TestDaF Deutsch C1 Hochschule
University of Mannheim	TOEFL Score: 80 IELTS Score: 6.5	TestDaf: Level 4 DSD: Level 2 DSH: Level 2
University of Kiel	TOEFL Score: 90 IELTS Score: 6.5	DSH - 2 TestDaF scores required Telc C1 scores required

Cost of Attendance in Germany

Besides the cost of studying, other costs include the expenses of accommodation, food, books and supplementary materials, utilities, etc. The actual costs may vary depending on the location of the university and type of accommodation you are choosing. From the below graph, we can see that Ludwig Maximilian University of Munich is the most expensive, equal to EUR 16,716 (INR 15,01,341.90). As compared to it, the University of Kiel cost the least, equal to EUR 8,400 (INR 7,54,443.16) and is really affordable for students. The cost of living in Germany at the best universities in Germany for masters in economics are given below:

EUR 1 = INR 89.81 as on March 29th 2024

Scholarships for Economics in Germany

Foreign students can apply to a number of scholarships to study abroad. The scholarships available in the public universities in Germany for masters in economics are mostly awarded on merit basis. You can apply for all these scholarships in Germany for international students from the official website of a university. Master degree in economics in Germany scholarships are given below:

University	Scholarship Eligibility	Amount
Ludwig Maximilian University of Munich	Must be enrolled in a full-time program at the university Awarded on merit basis	Varies
Humboldt University of Berlin	Awarded to international students on their academic merit	EUR 725 to cover the expenses of student accommodation in Germany
Heidelberg University	Merit basis and financial need basis	Varies
University of Freiberg	Awarded to international students pursuing a masters program in the university	EUR 300 (INR 26,944.40)
University of Tubingen	Must have good academic records and a competitive GPA score	EUR 300 (INR 26,944.40)
RWTH Aachen University	GPA of 2.0 or higher Awarded on merit basis	EUR 300 (INR 26,944.40) as monthly stipend
University of Bonn	Available to all international candidates who have strong academic records	Varies
University of Hamburg	Must be enrolled in the university for a full-time graduate program Awarded on merit basis	EUR 850 (INR 76,342.46)
University of Mannheim	Must have good academic records Also awarded on financial need basis	Varies
University of Kiel	Academic excellence and past grades	EUR 300 (INR 26,944.40)

EUR 1 = INR 89.81 as on March 29th 2024

Work Permit for Germany

For undertaking any full-time or part-time employment in Germany, a work permit is required. A valid work permit visa Germany cost is around EUR 75 (INR 6,736.10). The different types of work permit available are general work permit, highly skilled work permit, EU blue card for Germany, etc. You must apply on the official website of the German Embassy for a work permit. The minimum processing time is 1–3 months. Given below are some important documents for a successful work permit:

• An updated passport for candidates who immigrate to Germany
• Offer letter of employment
• Health insurance certificate
• Updated CV
• Financial Proof
• University or college degree

Job Outcomes for Masters in Economics in Germany

The universities in Germany provide attractive career opportunities to students of economics. The average salary for a master’s degree in Germany, economics is approximately EUR 50,000 (INR 44,90,733.12). The jobs in Germany roles offered after masters in economics are survey researcher, market researcher, policy analyst, economist, etc. The below given table shows the master's degree in economics salary along with the job profiles:

Job Profile	Average Salary
Economist	EUR 45,000 (INR 40,41,659.80)
Survey Researcher	EUR 61,000 (INR 54,78,694.40)
Market Researcher	EUR 40,000 (INR 35,92,586.49)
Policy Analyst	EUR 42,000 (INR 37,72,215.82)
Data Analyst	EUR 62,000 (INR 55,68,509.06)

EUR 1 = INR 89.81 as on March 29th 2024

Top Recruiters for Masters in Economics in Germany

The major recruiters that offer full-time or part-time jobs in Germany to candidates may vary according to the particular year. We recommend that you must maintain an updates CV at the placement of these companies. The interviewers may also check your past academic record and achievements. The top recruiters masters in Economics in Germany are given below:

• Deloitte
• Deutsche Bank
• EY
• Vodafone
• Sonae

The universities in Germany advise all students to apply to the courses as early as possible. Some universities accept applicants on a first come first served basis. However, cross-check all your documents as fraud and old documents may result in the rejection of your application. Information average salary for Masters degree in Germany has also been added for reference.