Please note: Due to the coronavirus pandemic, the application deadline for applicants who acquired their admission relevant degree outside the EU will be extended until August 20, 2020.

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Econometrics

A Joint MSc Program of the UA Ruhr Universities

TU Dortmund University
Ruhr University Bochum
University of Duisburg-Essen

About the Program

Econometrics is a four-semester, English-language master’s program of TU Dortmund University (TUDO), Ruhr-University 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 Faculty of Statistics @ TU Dortmund University. It combines the expertise and breadth of the participating faculties in empirical economic research and economics with the methodically oriented training of the statisticians and econometricians at Germany’s only Faculty of Statistics. This unique combination of training and research skills allows to offer a specialized curriculum for quantitatively-oriented students which covers a wide range of topics in econometrics and applied economics.

Students acquire the ability to combine methodological competence with proficiency in economics. They gain extensive knowledge of econometric methods and models and an in-depth understanding of central economic causal relationships and resulting econometric issues. The program particularly supports research-interested students in developing analytical skills with regard to specific research questions in economics and thus prepares optimally for a doctorate in econometrics or neighbouring disciplines. The master’s program in Econometrics thus prepares well for a career in econometrics, empirical economic research, evidence-based policy consulting, or operational research.

Graduates receive a joint MSc degree from the four participating faculties.

University Alliance Ruhr

Despite being one of the youngest university regions in the country, the Ruhr region has the densest educational landscape in Europe with a total of 22 universities and colleges. The University Alliance Ruhr (UAR) is a joint venture of TUDO, RUB and UDE. With more than 120.000 students and almost 1.300 professors, the UAR is Germany’s largest academic hub. It, among others, initiates cooperations 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 PhD program in economics. Excellent graduates of Econometrics thus have good prospects for pursuing a further career in academics or economic research.

Studying and Living in the Ruhr Area

Good news: both national and international students (including non-EU students) can study at the UAR universities for free – there are no tuition fees. You only pay about 300€ per semester to cover administrative costs and to give you access to free public transport in the region (semester ticket). Also Students in Germany benefit from affordable health insurance plans.
Furthermore, the Ruhr area has everything required to make the most of student’s life: affordable accommodation, jobs and a wide range of cultural, sporting and leisure activities. Moreover, with the semester ticket being valid for whole North Rhine-Westphalia one easily gets from place to place in the entire area quickly using public transportation. Attending several courses at different locations is thus no problem, even on the same day.

The student unions of the three universities mediate accommodation in student halls of residence and are happy to help you find a room on the local private housing market.

Requirements & Application

Interested in taking up the Master’s program in Econometrics? Please make sure that you are eligible for application and check that you meet the below criteria. Intake is every fall.

The application phase for the winter semester 2020 starts on 15.03.2020.

Deadline for applicants with a last relevant educational qualification from countries outside the European Union is August 20, 2020.

For applicants who have obtained their last relevant educational qualification in Germany (educational residents), the enrollment for the master program is accessible until the last Friday prior to the lecture period of the winter term.

For applicants with a qualification from a member state of the European Union, the application term is the same as for educational residents.

Please note that it may take several weeks for the International Office @ TU Dortmund University to process your application. 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 the organisation of a visa, accommodation etc. we advise international applicants from non-EU countries in particular to apply as early as possible.

To submit your application, click here.

We look forward to your application!

Qualifying Degrees

The program is aimed at quantitatively oriented students with a strong interest to acquire the necessary theoretical foundations for a career in econometric research. Especially the core modules are demanding in terms of mathematical rigor!

A BSc or equivalent degree in Economics, Mathematics, Statistics or a related discipline is required. At least 15 ECTS in both Economics and mathematics/statistics/econometrics are required.

Candidates who do not fully meet these credit requirements may in general be admitted on the condition that they successfully complete certain undergraduate level courses. If admission is subject to conditions, applicants will be informed thereof in their notification of admission. In any case, a regular application must first be submitted in due time.

Academic Curriculum Vitae

Applicants must submit an essay of at most two pages on their academic background in view of the pursued master program on Econometrics.

English Language Proficiency

Econometrics is an English-language Master’s program. Candidates must provide evidence of sufficient knowledge of English (at least level B2). We accept certificates for the following English-language tests: TOEFL internet-based test 100, International English Language Testing System (IELTS) Band 6.5 or similar certificates.


Please note: requirements outlined here are subject to change. Please visit the faculty website for specific information on admission requirements and the application process.

Coordinators

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Christoph Hanck

University of Duisburg-Essen

Christoph Hanck is Professor of Econometrics at University of Duisburg-Essen since August 2012. He received his doctorate in 2007, supervised by Prof. Dr. Walter Krämer, from TU Dortmund University. He subsequently joined the DFG Sonderforschungsbereich ‘Complexity Reduction in Multivariate Data Structures’ to then become a Postdoctoral Researcher at Maastricht University in 2008. From 2009 to 2012 he was Assistant and later Associate Professor in Statistics and Econometrics at Rijksuniversiteit Groningen. His research focuses on the analysis of nonstationary panel data and macroeconometrics. He is a faculty member of the Ruhr Graduate School in Economics.

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Carsten Jentsch

TU Dortmund University

Carsten Jentsch studied mathematics with a minor in business administration at TU Braunschweig from 2001 to 2007, where he received his doctorate in 2010. After a research stay at UC San Diego he became postdoc at the Economics faculty of the University of Mannheim in 2011 and at the SFB 884 ‘The Political Economy of Reforms’. Since 2015 he has been a member of the Elite Program for Postdocs of the Baden-Württemberg Foundation. After holding professorships at the Universities of Bayreuth and Mannheim, he has been working at TU Dortmund University since summer 2018. He is a faculty member of the Ruhr Graduate School in Economics.

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Christoph M. Schmidt

Ruhr University Bochum

Since 2002 Christoph M. Schmidt is head of the RWI - Leibniz Institute for Economic Research and professor at the Ruhr-Universität Bochum. He was appointed to the German Council of Economic Experts in March 2009 and has been its Chairman since March 2013. Schmidt received his Ph.D. from Princeton University in 1991 and completed his habilitation in 1995 at the Ludwig-Maximilians-Universität (LMU) of Munich. From 1995 to 2002 Schmidt was a full professor for Econometrics at the Universität Heidelberg. Since 1992 he has been a Research Affiliate of the Centre for Economic Policy Research (CEPR), London, since 1996 a CEPR Research Fellow, and since 1998 he is also a Research Fellow at the Institute for the Study of Labor (IZA), Bonn.

Program Structure

The program is divided into compulsory modules, elective courses and closes with the master thesis. In four compulsory modules (ME1 - ME4) with a total amount of 42 credit points, you acquire a sound knowledge 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 (ME5 - ME6) train students in economic theory (ME5) and provide further specialization in applied (ME6) and theoretical econometrics (ME7).

In ME6 and ME7, students focus on a specific field of research according to their individual preferences. This results in a flexible number of credits to be acquired by electives, which must, however, amount to a minimum of 11 and a maximum of 26 credit points in each of the elective module areas.

While core modules and many electives are taught in English, students have the opportunity to attend selected courses held in German.

Semester plans


ME8: Master Thesis


The master thesis demonstrates that students are able to independently apply and adapt scientific methods to an econometric problem within a given period of time. The processing time is six months. Topics for final theses are offered each semester by several university lecturers, so that students can choose between different offers. Students can also make their own suggestions for topics.

ME4: Time Series Analysis


The course initially covers methods of descriptive time series analysis. Then, structural theory and estimation of time series models are discussed. Core topics include approximation and elimination of trends, the theory of linear filters, ‘naive’ forecasting, exponential smoothing, stationary stochastic processes, optimal linear forecasts, ARMA-processes, the autocorrelation function, model identification and parameter estimation in the time domain.

ME6: Applied Econometrics


ME6 includes courses that focus on the application of advanced econometric methods to selected economic problems whereby emphasis is typically set on acquisition, processing and analysis of real data sets. In many courses, participants acquire in-depth knowledge in statistical programming.

  • Econometric Analysis of Electricity and Financial Markets
  • Applied Time Series Analysis in Macroeconometrics
  • Topics in Economic Policy Evaluation
  • Microeconometrics in Health Economics
  • Econometric Applications in Monetary Economics

Electives

Participants acquire knowledge about current theoretical developments in micro- or macroeconomics, applied econometrics and econometric methods by attending selected courses from blocks ME5: Economics, ME6: Applied Econometrics and ME7: Econometric Methods. Focus lies on the discussion, adaptation and application of various econometric tools on the one hand and on advanced and up-to-date topics of economic interest on the other hand. .

ME5: Economics


Many econometric methods have been developed in line with developments in economics. Therefore, it is important for our students to be familiar with more recent theoretical developments and thus potential areas of application of econometric methods. Depending on the field of interest, the courses have a micro- or macroeconomic orientation. The curriculum covers a variety of courses from the following disciplines:

  • Applied Macro- and Microeconomics
  • Dynamic Macroeconomics
  • Game Theory
  • Health Economics
  • Public Economics
  • Financial Economics

ME7: Econometric Methods


Modules in ME7 have a strong methodological orientation, i.e. students have the opportunity to acquire in-depth knowledge of econometric methods in selected fields, for example:

  • Stochastic Processes
  • Unit Root and Cointegration Analysis
  • Analysis of Big Data and Machine Learning
  • Bayesian Econometrics
  • Multivariate Statistical Methods
  • Advanced Microeconometrics

ME1: Statistical Theory

Participants learn to use the formal language of statistics and gain knowledge of fundamental concepts in stochastics (M1a), decision theory (M1b) and asymptotic theory (M1c) which are required in order to analyze, apply and further develop statistical procedures.

ME2: Econometrics


ME2 deals with a wide range of fundamental econometric methods. Special emphasis is placed on asymptotic results to allow for a general discussion of the statistical properties of these methods. The main focus lies on a formally precise description of the concepts. Topics include the linear regression model, the generalized linear regression model, maximum likelihood estimation and inference, asymptotic theory, endogenous regressors, instrumental variables, generalized method of moments and regression models for time series data, among others.

ME3: Case Studies


The participants solve statistical problems in larger group projects, usually using raw economic data. They are trained in applied research and acquire skills in presenting statistical results and various interdisciplinary qualifications such as teamwork and know-how in project management, communication and consulting. Furthermore, students expand their methodological knowledge and gather experience in statistical programming.

Further information on the individual course areas can be viewed by clicking in the interactive semester plan above.


Please note that the semester plans presented here are for orientation only: they are intended to give you an overview over the modules and the distribution of credit points. Modules are arranged over the course of semesters in a way we consider beneficial for study progress. However, students are free to decide in which order they complete core courses and electives.

For more information on the structure and content of the individual courses, please refer to the module manual. If you have any further questions regarding the curriculum please contact our coordinators.

FAQs

Due to the Corona pandemic, it is difficult for me to obtain the required English language certificates at the moment. What can I do?

In this case, please supply any suitable available evidence of your proficiency in English, e.g., other certifications or English-language term papers.

I submitted my application X days ago. When will I hear from you?

We process applications and communicate decisions as soon as they come in. There may however be certain delays as the central administration first checks applications to all programs of the university for issues like completeness, and they have to handle many of these. We therefore kindly ask for some patience.

What should I include in the academic CV?

Please see the academic CV as an opportunity for you and us to summarize your motivation and suitability for the program. Feel free to include any information, such as prior courses, relevant skills, work experience, career goals etc., that you deem supportive of your application.

My undergraduate grades are just slightly worse than the minimum grade point average (in the German grading system) you ask for. Am I nevertheless eligible to apply?

Unfortunately, by law, we are not able to make exceptions here, such that we regret to say you cannot qualify for the program. Please note that (also by law) only the Bachelor GPA is relevant even if you already have a Masters degree.

I do not have EU citizenship. Do I have to leave Germany or can I stay and start working after I have obtained the Master’s degree?

Non-EU citizens with health insurance and proof of financial means sufficient for living expenses may be granted an 18-month visa for job search after graduation. With a job there is the prospect of a residence permit or an EU Blue Card. Further information can be found on the DAAD website.

Where can I find the self-assessment and is it mandatory to take it?

The online self-assessment is not yet available. Once available it will be mandatory for future applicants to take it. However, this is not a test that you can fail: We would like applicants to assess their skills in statistics, economics and econometrics so that, if necessary, specific pre-courses can be taken.

I am currently studying in program A at University B and have taken courses in C, D and E. Am I eligible for the program?

We kindly ask for your understanding that we cannot provide an answer here. The purpose of the application process is to answer such questions. Please submit a full application such that we can consider your materials. The sooner you submit, the earlier we will be able to get back to you with a clear and definite answer.

How good do my German language skills need to be?

The core curriculum and most electives are taught in English. We recommend a good command of the German language (at least B1) if you are interested in taking German-language electives.

Can you offer scholarships to cover costs of living (housing etc.)?

While we can offer the program free of tuition, we unfortunately cannot offer any scholarships for such costs. Some external agencies, possibly in your home country, may be able to assist.

There regularly are opportunities for paid positions as student research assistants, which helps cover parts of the cost of living.

Can you help me with finding accommodation?

There are several student dormitories for which Accommodation is arranged by the associated student union (Studierendenwerk). The international offices are also happy to help you to find your way around the private housing market. Further information can be found via the following links:

Is there a possibility to pursue a PhD in econometrics/statistics/economics after completion of the MSc?

Yes. Professors at the UAR and elsewhere regularly seek qualified quantitatively trained candidates for which the MSc in Econometrics provides an excellent background.

What are ECTS points?

ECTS is for European Credit Transfer System. This system guarantees the comparability of achievements gained in the European Higher Education Area by issuing so called credit points (ECTS credits). These credit points exist to give an indication of the student’s average workload per semester or year. They do not function as an evaluation of performance. ECTS credits are only awarded if courses are successfully completed. This means that all of the relevant exams have to be passed.

When does the winter term start? When does the lecture period begin?

The winter term starts at October 1st. The lecture period usually begins in the 2nd week of the semester. Note that the lecture periods may vary between the UAR universities. Course dates and locations can be found in the online lecture catalogs:

It is often worthwhile to visit the website of the respective chair for further details on the schedule.

Which living costs should I roughly expect when studying in the Ruhr area?

You should expect to spend a minimum of €750 to €900 per month for basic expenses. The costs can be broken down roughly as follows:

  • Rent: €350 to €450
  • Health insurance: €110
  • Food: €260
  • Phone & Internet: €30 to €50


Note that the above is a minimum calculation which can be easily exceeded, in particular because rents differ significantly between different cities and districts. Also consider extra costs that you face upon arrival in Germany, some of which are the deposit for accommodation, fees for residence permit, household items etc.

Good news is that students enjoy reductions on many occasions. Student tariffs are available for mobile contracts and many leisure activities.

Do I need health insurance for studying in Germany?

Health insurance is mandatory for all students in Germany and you must present proof when you enroll. The good news is that healthcare is affordable in Germany and in some cases it is even possible to bring your own insurance. We advice you to read through the guide of the Germany Academic Exchange Service (DAAD).

Contact

If you have any questions about the program, please feel free to send an email or directly contact our coordinators. The student council @ TU Dortmund University is also available for questions.

Getting to TU Dortmund University

  • Faculty of Statistics
    TU Dortmund University
    Vogelpothsweg 87
    44227 Dortmund
    Germany
  • Faculty website

  • Faculty of Business and Economics
    TU Dortmund University
    Friedrich-Wöhler-Weg 6
    44227 Dortmund
    Germany
  • Faculty website

Getting to the Ruhr University Bochum

  • Faculty of Management and Economics
    Ruhr University Bochum
    Universitätsstraße 150
    44801 Bochum
    Germany
  • Faculty website

Getting to the University of Duisburg-Essen

  • Faculty of Business Administration and Economics
    University of Duisburg-Essen
    Universitätsstrasse 12
    45141 Essen
    Germany
  • Faculty website