Master of Science in Econometrics
MSc in Econometrics
Prof. Dr. Christoph Hanck / Prof. Dr. Carsten Jentsch
The Master of Science in Econometrics is a two-year English-language master’s program of TU Dortmund University (TUDO), Ruhr University of Bochum (RUB), and the University of Duisburg-Essen (UDE).
The program is offered jointly by the faculties of economics of the three universities and the Department of Statistics at TU Dortmund University. This unique combination of training and research skills allows for offering a specialized curriculum for research-oriented students who are interested in deeply understanding and further developing econometric methods for empirical economic research. As this requires rigorous training in mathematics and statistics, the focus on these subjects is bigger than for typical degree programs in economics.
About the Master’s Program in Econometrics
Econometrics is a branch of economics that deals with the quantitative analysis of economic relationships using mathematics and inferential statistics. Econometric methods are used in many areas of economic research and constitute the basis for empirical applications in many fields such as labor economics and finance. Furthermore, the application of econometrics becomes increasingly important for decision support in companies, governments, financial institutions, and other organizations.
While quantitative methods are frequently used in applied research, many economists are not taught the mathematical background necessary to fully grasp the underlying concepts, let alone further develop such techniques. To fill this gap and to respond to the growing demand for highly qualified professionals, the master’s program in Econometrics aims to provide students with both extensive methodological knowledge and an in-depth understanding of central causal economic relationships and resulting econometric issues.
Graduates receive a joint MSc degree from the three participating universities.
The program comprises compulsory modules, elective courses, and a master's thesis. In the four compulsory modules, students receive rigorous training in statistics, econometrics, and time series analysis. The core curriculum also conveys skills in applied research, statistical programming, research project management, and statistical consulting.
Elective modules and seminars train students in economic theory and provide further specialization in applied and theoretical econometrics. During their studies, students focus on a specific field of research according to their individual preferences and acquire specialist methodological knowledge, e.g. in financial econometrics or health economics.
While core modules and most electives are taught in English, students have the opportunity to attend selected German-language courses.
Graduates of the MSc in Econometrics are well qualified to be tomorrow's experts in the increasingly complex world of new data emerging in all areas of social sciences, economics, business, and finance. Students are particularly well prepared for a further career in econometrics, empirical economic research, and evidence-based policy consulting.
Excellent graduates interested in pursuing an academic career are supported in developing analytical skills tailored to specific research questions. The program thus prepares optimally for a doctorate in econometrics or related disciplines.
What makes the UA Ruhr stand out
The University Alliance Ruhr is a joint venture of TUDO, RUB, and UDE. With more than 120.000 students and 1.300 professors, it is Germany’s largest academic hub. Among others, the UA Ruhr initiates cooperation in research, teaching, and administration. Both the education of economists and economic research benefit from these joint activities, in particular through the RWI – Leibniz Institute for Economic Research and the RGS – Ruhr Graduate School in Economics, which offers a fast-track Ph.D. program in economics.
The Ruhr area has everything to make the most of a student’s life: affordable accommodation, jobs, and a wide range of cultural, sporting, and leisure activities.
Furthermore, both national and international students (including non-EU students) study at the UA Ruhr Universities for free, as there are no tuition fees. The semester fee is only about 350€ and allows free use of public transportation in all of North Rhine-Westphalia.
Requirements and Application
The program is aimed at quantitatively oriented students with a strong interest to acquire the necessary theoretical foundations for a career in econometric research. A BSc in Economics, Statistics, Mathematics, or related disciplines is required. Since Econometrics is a quantitative program, especially the core modules are demanding in terms of mathematical rigor. Accordingly, evidence of proficiency and interest in mathematics/statistics is required. We offer pre-courses before the start of the lecture period, in which students with a weaker background in mathematics are strongly encouraged to attend.
Please see the department's website for detailed information on admission requirements and the application process. Note that it is mandatory for the application to upload an essay on the academic background (of at most two pages) in view of the pursued master's program in Econometrics.
The application phase for winter 2023 starts on March 15, 2023. The deadline for applicants with a last relevant educational qualification from countries outside the European Union is July 15, 2023.
Students with a relevant degree obtained in EU/EAA countries may apply until October 6, 2023.
Please note that processing applications may take several weeks and so the period between confirmation of admission and the beginning of the semester may be short if the documents are submitted late. In order to ensure sufficient time for getting a visa, accommodation, etc. we advise international applicants from non-EU countries, in particular, to apply as early as possible.