Best Economics Universities In Germany

Last Updated on December 15, 2022

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Germany is a great choice for international students interested in studying economics or business because of its robust economy and booming corporate sector. Students from all over the world flock to Germany because of its highly ranked colleges, minimal tuition fees in public universities, and low cost of living. International students prefer  to study in Germany for economics because of a number of reasons:

  • Around 60 economics universities in Germany provide degrees at various levels of education. Students with a degree from an economics university in Germany can earn up to 90,000 EUR per annum.
  • Economics courses rank 8th among the highest paying courses for recent graduates in Germany.
  • According to DAAD, over 100,000 international students had enrolled in economics and social sciences courses at German universities in 2021.
  • 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  euros 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 euros per year at public institutions and up to 30,000 euros at private German universities.

Best Economics Universities in Germany

Top 10 German Universities for International Students in 2022

There are around 300 public universities in Germany out of which 30 institutions offer economics courses in Germany. One of them belongs in the top 50 universities for economics courses globally. Here is a list of the top economics universities in Germany and their rankings according to QS Global Rankings 2021.

UniversityQS Subject Rankings 2021Courses offered
University of Mannheim405 bachelor courses, 1 Ph.D. course
Ludwig Maximilian University of Munich501 bachelor course, 2 masters courses
University of Bonn622 masters courses
Humboldt University of Berlin712 masters courses, 2 Ph.D. courses
Free University of Berlin1361 bachelor course, 2 masters courses
University of Gottingen151-2002 masters, Ph.D. course

Economics Courses in Germany: Degree Types and Specializations

Economics courses in Germany are often preferred by international students, having a business-oriented mind, to study abroad. This is mainly because of the various specializations offered and the course curriculum being more concentrated towards business organization, finance and management. 

Economics courses are offered as a BSc degree at the undergraduate level. At the graduate level, MS, MA degree is usually available. International students who aspire on becoming a teacher of economics can apply for MEd courses providing vocational teacher training. A Ph.D. is given at the doctoral level of study.

Economics is a social science subject. Hence, it has various branches and specializations spreading across some parts of mathematics and statistics. Here are some of the popular specializations international students can opt for:

  • Econometrics
  • MIcroeconomics
  • Macroeconomics
  • Financial Economics
  • International Economics
  • Welfare Economics
  • Industrial Economics
  • Game Theory
  • Monetary Economics

Economics Universities in Germany: Undergraduate Programs

An undergraduate degree in economics in Germany is a 3-year course. There are no tuition fees required but the University of Mannheim is among one of the top universities which charge a tuition fee. However, it is far less than courses in the USA or UK. 

Below is a table showing some of the top institutions providing bachelor courses in economics in Germany and their course details:

UniversityCourse OfferedAnnual Fees (in EUR)
University of MannheimBSc Economics3,330
BSc Economics and Business Education
Ludwig Maximilian University of MunichBSc Economics130
University of BonnBSc Economics580
Free University of BerlinBSc Economics600
Heidelberg UniversityBSc Economics382
RWTH Aachen UniversityBSc Economics600
University of FreibergBSc Economics3,330
BSc Economic Science

Economics Universities in Germany: Eligibility for Bachelors

International students can Apply to German universities either through the college website or through uni-assist. Uni-assist is a centralized admission portal run by the German Academic Exchange Service (DAAD) which allows international students to apply for multiple universities via a common portal.

The academic requirements to pursue a bachelor in economics in Germany for international students are:

  • Secondary level school education with a minimum of 75% with maths and statistics as a subject
  • Passing the qualification assessment examination in Germany, called Feststellungsprüfung. The Feststellungsprüfung is an examination conducted by universities that assesses your proficiency in subjects that are crucial to your chosen degree program and also in German language.
  • Courses for international students are usually offered in English, but most bachelor courses are offered in German language. Hence, the German language test score, DSH level2 is required for international students applying for those courses.
  • English language proficiency test scores: IELTS– an overall minimum band of 6 and TOEFL- a minimum of 90 is required.

Documents Required

  • Official Transcripts
  • Test Scores
  • Letter of Recommendation (LOR)
  • Resume

UG Fees at Economics Universities in Germany

Bachelor in Economics in public universities of Germany is free. However, international students need to pay university fees and some other charges which usually range from 500 EUR to 1500 EUR a year.

Economics Universities in Germany: Postgraduate Programs

Usually, a 1-2 year course, masters in Economics in Germany is offered with a concentration on advanced analytical learning and quantitative training. International students with a graduate degree in economics immediately find jobs as this course prepares them for knowledge in economic methods and their implementations on a high theoretical level. 

Here are some of the universities offering economics masters in Germany and their details:

UniversityCourse OfferedDuration (in years)Annual fees (in EUR)
Ludwig Maximilian University of MunichMS Economics2265
MS Quantitative Economics
Heidelberg UniversityMS Economics2355
Humboldt University of BerlinMS Agricultural Economics13679
MS Economics and Management Science23679
University of FreibergMS Economics22681
M.Ed Economic Science
University of TuebingenMS Management and Economics23094
MS International Economics
MS Economics and Finance
MS European Economics
RWTH Aachen UniversityM.Ed Economics – Vocational School Teacher2294
MS in Economic Geography
MS in Economics
University of BonnMS Economics26703
MA Ecumenical Studies
Free University of BerlinMA Economics2321
MS Public Economics
University of GoettingenMS International Economics2746
MS Development Economics
University of HamburgMS Economics2328
MS Health Economics and Health Care Management
University of CologneMS Economic Research2577
MS Economics

Economics Universities in Germany: Eligibility for Masters 

International students applying for masters can also apply through Uni-Assist.

  • Passed a bachelor’s degree in economics or related field with maths and statistics in the degree course. 
  • A minimum of 60% in undergraduate is demanded by most universities.
  • GRE scores of minimum 320
  • Proof of basic German language skills (CEFR Level A1 or DSH level2)
  • English language proficiency test scores: IELTS- an overall minimum band of 6, TOEFL- 90, 

Documents Required

The documents that are needed during the time of admission is listed below:

  • Resume
  • Letter of motivation in English (maximum of 500 words)
  • 2 letters of recommendation
  • Academic essay
  • Official transcripts
  • GRE, IELTS, TOEFL, DSH scores

PG Fees at Economics Universities in Germany

Most public universities in Germany provide higher education free of cost. Students just need to pay the enrollment fee/ university fee which ranges from 500 – 1500 EUR annually. Some universities charge tuition fees which range from 2,500- 6,700 EUR annually.

Economics Universities in Germany: Doctoral Programs

A Ph.D. in economics in Germany helps a student specialize in a particular aspect of a subject that interests him. It gives a detailed insight into the subject and prepares a student for research-based jobs. Ph.D. in Germany with economics is usually a 3-4 year course offered in public universities with no tuition fees. 

The table below shows some of the universities providing doctorate degrees in economics and their details:

UniversityCourse OfferedDuration (in years)Annual fees (in EUR)
University of GottingenPh.D. Economic Sciences3NA
Humboldt University of BerlinDoctor of Philosophy [Ph.D.] Berlin Doctoral Program in Economics and Management Science (BDPEMS)4NA
Doctor of Philosophy [Ph.D.] European Ph.D. in Socio-Economic and Statistical Studies (SESS)3NA
Goethe-Universität FrankfurtPh.D. in Economics4NA
University of MannheimPh.D. in Economics5NA
University of KonstanzDoctorate in Quantitative Economics and Finance3NA

Economics Universities in Germany: Eligibility for Ph.D. 

The eligibility criteria for international students to get admission in economics doctoral courses in Germany are:

  • A masters degree from a recognized university in economics or any related specialization with a minimum of 50%
  • Doctoral applicants from India must subject their master’s degree to an equivalency test with a German degree. The Dean’s office of your chosen university will be doing this check.
  • A writing sample showing your interest in the subject
  • Language proficiency tests – IELTS- an overall minimum band of 6.5; TOEFL- 80; DSH- 2 (for courses taught in German)

Documents Required 

  • Official Transcripts
  • Language Test scores
  • Hand-signed CV
  • Statement of Purpose (SOP)
  • Test scores for studying in Germany

Ph.D. Fees at Economics Universities in Germany

There are no tuition fees for a Ph.D. in Germany for international students in most universities. However there are some university or administration charges that a student has to pay every semester depending on the course structure.

Economics Universities in Germany: Scholarships Offered

Higher education is free in public universities in Germany. Affordability coupled with an almost-negligible tuition fee attracts more than 350,000 international students to study in Germany every year. 

However, the cost of living is high and some of the top private universities charge high tuition fees. Hence, international students opt for scholarships. Scholarships for international students in Germany are either private or corporate houses funded or government-funded.

Some of the non-government scholarships are tabulated below:

ScholarshipAwarding CommitteeAward (in EUR)
Leke van den Burg Prize for research on systemic riskEuropean Systemic Risk Board (ESRB)5000
The Friedrich Ebert Stiftung ScholarshipFriedrich Ebert Foundation830 per month
Women in Economic ScholarshipEuropean Central Bank10,000
Heinrich Boll Scholarships in Germany for International StudentsHeinrich Boll FoundationVaries
JN Tata Endowment ScholarshipTata Trust11,976

The government of Germany also sponsors financial aid for international students to study in Germany. Scholarships provided by DAAD  ( German Academic Exchange Service) are mentioned below: 

ScholarshipAwards (in EUR)
Research Grants- Doctoral Programs in GermanyMonthly 850 for graduate students; Monthly 1,200 for doctoral students
Graduate School Scholarship Programme (GSSP)Monthly 1,200
Helmut-Schmidt-Programme (Master’s Scholarships for Public Policy and Good Governance – PPGG)Monthly 850
Baden-Württemberg Stiftung: The Baden-Württemberg-STIPENDIUM for University Students600- 1400 per month
Federal Ministry of Education and Research: Germany Scholarship300 per month

Economics Universities in Germany: Career Scope 

Best Universities in Germany for Economics | expatrio.com

To get jobs in Germany after pursuing a degree in economics, international students should master the German language as it is the primary language in the country and companies prefer to recruit students who have mastered it.

  • An economist in Germany in his mid-career earns approximately 38% more than a fresher in the field.
  • The average economist salary in Germany is 64,488 EUR per year or an equivalent hourly rate of 31 EUR. In addition, they earn an average bonus of 1,748 EUR per annum.
  • The salary of professionals in the economics and finance industry is expected to rise by approximately 16% by 2025.
  • Economics and econometrics sector jobs rank 7th in the highest paying salaries in Germany.
  • European Central Bank is one of the highest recruiters of economics graduates in Germany

Some of the job titles you can apply for and their annual salary range is given below:

Job TitleAverage Annual Salary (in EUR)
Economist24,000 – 96,000
Financial Controller53,000 – 96,000
Data Analyst38,000 – 68,000
Pricing analyst37,000 – 69,000
Statistician74,000 – 100,000
Market Researcher54,000 – 122,000
Finance Expert59,000 – 64,000
Investment Analyst53,000 – 75,000
Investment Banking Analyst60,000 – 102,000
Postdoctoral Research Associate31,000- 63,000

Last but not the least, a degree from economics universities in Germany is a golden opportunity for international students because of the low or no tuition fees in most universities. Though the living cost is high and can go up to around 850 EUR per month. The students earn salaries of around 60,000 EUR per annum without investing much in the cost of study.

Best Universities in Germany for Economics

69 Typical German Things - What is Germany Famous & Known for | CBS

With a strong economy and a thriving business world, Germany is a top choice for international students who are interested in studying economics or business. Highly-ranked universities, no tuition fees, and an affordable cost of living attract students to Germany from all around the world.

There are various German university ranking tables that can help you to find the best German universities. In this guide, we will take a look at the field of economics and some of the top business universities producing economics graduates in Germany.

Study economics in Germany

German universities often have a strong focus on the sciences and research

Most institutions offer economics, business, and mathematics courses, all with a contemporary and international scope. With both Bachelor’s and Master’s degrees available to international students, Germany is a popular destination for business-oriented minds, who are looking for degree programs and economics majors to gain international experience and great chances on the job market.

Economic study programs start with basic skills in the independent scientific analysis of economic questions and contemporary economic concepts to then move into a more in-depth look at business administration, finance, various economic sectors, and economic issues.

German universities offer a high level of Economics education which translates into real-world experience. Requirements for economics courses vary depending on the university and type of program or courses offered but generally include a higher education qualification, English or German language abilities.

Below we provide details on some of the topmost research institutions and top universities offering programs for BBA, Bachelor of Business Administration, postgraduate levels, and Doctorate Degree programs or other economics-related courses and adjacent disciplines.

Is Germany good for economics?

Economic issues accompany us in our daily lives: economic growth, wage inequality, and unemployment are as present in the media as financial crises, trading of emission rights, or the effects of globalization. At the same time, we all have to make a multitude of economic decisions in our personal and professional lives. In the study of economics at universities in Germany, students enrolled to deal with the analysis and answers of these questions.

The integrated approach to economics education in Germany produces high-quality graduates who learn skills and quantitative methods through intensive instruction using a method-based approach to withstand the professional climate of the real corporate world.

German universities conduct ground-breaking research and dominate the world rankings of universities offering higher education in Economics. The best German universities for Economics offer a rich history, and each faculty boasts a wide range of courses and programs, including Behavioral Sciences, Computer Science, Quantitative Economics, and Psychological Economics.

Where can I study economics in Germany?

Using our Study Finder, you can easily and quickly find an Economics program or university that is located in the very city you want to live in Germany. A few suggestions are Albert Ludwigs University in Freiburg, Heidelberg University, Humboldt University of Berlin, Ludwig Maximilian University in Munich, and the Munich Graduate School of Economics. These universities are among the top ten universities and business schools in Germany. Each university features intensive teaching and top training in all areas of Economics.

Which university in Germany is the best for international students?

Ludwig-Maximilians-University Munich

LMU was founded in 1472. In 2017/18, there were 8,515 international students, 5,269 of whom were women, out of an overall total of 50,918 students. The university is a global leader not only in economics, but also in higher education in general, and is one of the best universities in the world.

LMU offers over 200 courses on a wide range of subjects, including Economics, Economic Pedagogy, and Economic Mathematics. Bachelor’s degrees usually cover six semesters and Master’s degrees take between two and four semesters to complete.

There are different admission requirements for individual courses. Generally, German language proficiency is required, except for doctoral programs, English-language Masters, or double degrees. Aptitudes tests may be required by the school’s faculty when applying.

Applications for the summer semester are required by January 15th and by July 15th for the winter semester. International students must apply for a student visa several months in advance and arrange to open the necessary blocked bank account.

Rheinische Friedrich-Wilhelms-University Bonn

Rheinische Friedrich-Wilhelms-University Bonn, or more simply the University of Bonn, is ranked 13th in Germany. Offering over 200 courses, students can undertake Bachelor’s and Master’s degrees at the university. As well as Economics, Law and Economics courses, there are related teaching degrees available to students enrolled.

Founded in 1818, the university is attended by around 38,000 students, 4,500 of whom are from outside of Germany. Requirements for international students vary depending on the qualifications you hold, your language abilities and the course you are enrolling on.

Many courses at business universities in Germany are taught in English, making them very popular with students from all over the world. At the University of Bonn, the application process usually starts in June for the winter semester and the deadline is July 15th. For a summer semester start the deadline in January 15th. 

As of 2019, the University of Bonn will have six Clusters of Excellence, more than any other German university.

University of Mannheim

The University of Mannheim dates back to 1907 as a college for merchants. Today, the university has over 60 courses to choose from, many of which are centered around business and economics, such as Economic and Business Education, and Mathematics in Business and Economics.

All Bachelor’s degree courses start in the fall and are open for applications between May 15th and July 15th. The Master’s degree program application periods vary by subject and the semester, but usually open on March 15th or October 1st.

This smaller university has around 12,000 students, including international students from over 100 different countries. The university has an Internationalization Strategy which includes attracting students to the International Campus, offering multilingual courses and providing support for international students.

As one of the top universities in Germany for Master’s degrees, the University of Mannheim is especially strong in regards to Economics and Social Sciences.

It has been ranked in the top 20 European research institutions several times and number one in Germany for business and economics.

Free University of Berlin

The Free University of Berlin offers over 150 academic programs and has a strong focus on research. Founded in 1948, the university has always given and received international support, working with various institutions around the world. Ranked at number 6 in Germany and at 130 globally in 2018, the university has an excellent reputation including for courses in Economics and Business Administration.

As of the winter semester 2018/19, there were 33,000 degree students attending the university. 13% of Bachelor’s degree students and 27% of Master’s degree students were from other countries. 35% of the 4,000 doctoral students were from outside of Germany.

The qualifications needed, additional requirements and application periods vary from program to program. Students generally need to apply for the winter semester in June or July.

The university has many collaborative research centers, 9 as a host university, 10 as a participating institute.

University of Cologne

The University of Cologne or UoC is a prestigious institution that was founded in 1388. It has a long history as a center of science and research. In 2017/18, there were almost 49,000 students, over 5,000 of whom were international students.

Top Universities In Germany By Subject 2017

Want to study at one of the top universities in Germany? Well, fortunately, there are lots to choose from. The QS World University Rankings® features 43 German universities in the latest edition – only the US and the UK are represented more often.

Top universities in Germany for accounting & finance

  1. Universität Mannheim (ranked 51-100 in the world for accounting & finance)
  2. Humboldt-Universität zu Berlin (101-150)
  3. Technical University of Munich (101-150)
  4. Universität Frankfurt am Main (101-150)
  5. University of Cologne (151-200)
  6. WHU – Otto Beisheim School of Management (151-200)

Top universities in Germany for art & design

  1. Bauhaus-Universität Weimar (ranked 101-150 in the world for art & design)
  2. Technische Universität Berlin (TU Berlin, 101-150)
  3. Universität der Künste Berlin (101-150)

Top universities in Germany for biological sciences

  1. Ludwig-Maximilians-Universität München (ranked 36th in the world for biological sciences)
  2. Ruprecht-Karls-Universitaet Heidelberg (41st)
  3. University of Göttingen (51-100)
  4. Technical University of Munich (51-100)
  5. Albert-Ludwigs-Universitaet Freiburg (51-100)

Top universities in Germany for business & management

  1. Universität Mannheim (ranked 51-100 in the world for business & management)
  2. Ludwig-Maximilians-Universität München (101-150)
  3. Technical University of Munich (101-150)
  4. Freie Universitaet Berlin (151-200)
  5. RWTH Aachen University (151-200)
  6. WHU – Otto Beisheim School of Management (151-200)

Top universities in Germany for civil & structural engineering

  1. Technical University of Munich (ranked joint 48th in the world for civil & structural engineering)
  2. KIT, Karlsruhe Institute of Technology (51-100)
  3. RWTH Aachen University (51-100)
  4. Technische Universität Dresden (51-100)
  5. Universität Stuttgart (51-100)

Top universities in Germany for computer science

  1. Technical University of Munich (ranked 40th in the world for computer science)
  2. KIT, Karlsruhe Institute of Technology (51-100)
  3. Ludwig-Maximilians-Universität München (51-100)
  4. RWTH Aachen University (51-100)
  5. Technische Universität Berlin (51-100)

Top universities in Germany for economics

  1. Ludwig-Maximilians-Universität München (ranked 51-100 in the world for economics)
  2. Rheinische Friedrich-Wilhelms-Universität Bonn (51-100)
  3. Universität Mannheim (51-100)
  4. Freie Universitaet Berlin (101-150)
  5. Humboldt-Universität zu Berlin (101-150)
  6. Universität Frankfurt am Main (101-150)
  7. University of Göttingen (101-150)

Top universities in Germany for electrical engineering

  1. Technical University of Munich (ranked 41st in the world for electrical engineering)
  2. KIT, Karlsruhe Institute of Technology (51-100)
  3. RWTH Aachen University (51-100)
  4. Technische Universität Berlin (51-100)
  5. Technische Universität Darmstadt (101-150)
  6. Technische Universität Dresden (101-150)

Top universities in Germany for law

  1. Ruprecht-Karls-Universität Heidelberg (ranked 39th in the world for law)
  2. Ludwig-Maximilians-Universität München (joint 40th)
  3. Humboldt-Universität zu Berlin (51-100)
  4. Universität Frankfurt am Main (51-100)
  5. Universität Hamburg (51-100)

Top universities in Germany for mathematics

  1. Rheinische Friedrich-Wilhelms-Universität Bonn (ranked 41st in the world for mathematics)
  2. Technische Universität Berlin (50th)
  3. Humboldt-Universität zu Berlin (51-100)
  4. Ludwig-Maximilians-Universität München (51-100)
  5. RWTH Aachen University (51-100)
  6. Ruprecht-Karls-Universitaet Heidelberg (51-100)
  7. Technical University of Munich (51-100)

Top universities in Germany for medicine

  1. Ruprecht-Karls-Universität Heidelberg (ranked joint 42nd in the world for medicine)
  2. Ludwig-Maximilians-Universität München (45th)
  3. Medizinische Hochschule Hannover (51-100)
  4. Technical University of Munich (51-100)
  5. Eberhard Karls Universität Tübingen (101-150)
  6. Rheinische Friedrich-Wilhelms-Universität Bonn (101-150)
  7. RWTH Aachen University (101-150)
  8. Universität Frankfurt am Main (101-150)
  9. Albert-Ludwigs-Universitaet Freiburg (101-150)
  10. Universität Hamburg (101-150)

Top universities in Germany for politics

  1. Freie Universitaet Berlin (ranked joint 17th in the world for politics)
  2. Humboldt-Universität zu Berlin (50th)
  3. Ludwig-Maximilians-Universität München (51-100)
  4. Ruprecht-Karls-Universitaet Heidelberg (51-100)
  5. Universität Mannheim (51-100)

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