Study Program - Faculty of Business Administration and Economics

Notes on the study program M.Sc. International Economics and Management

Introductory presentation for the M.Sc. International Economics and Management

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Conditional Admission

The Faculty of Business Administration and Economics offers students who do not fulfil the content requirements the opportunity to make up to 30 ECTS that are missing for admission to the Master's degree programme in International Economics and Management as part of an enrolment subject to conditions. The missing study components are shown in the letter of admission so that you know in which fields you are missing ECTS for admission to the Master's programme before you start your studies.

The requirements must be made up by taking Bachelor modules. You can also start your Master's programme at the same time. The Guide for Conditional Master's Students contains the most important information for international students.

As long as you have not fulfilled all conditions, you can take up to 60 ECTS in the Master's programme. Further ECTS from the Master's programme can only be taken as soon as all requirements have been fulfilled and proof of passing has been submitted to the Office of Academic Affairs (e.g. via a screenshot from PAUL).

Please note that the requirements are not shown on your Master's transcript. The work you have completed as part of the requirements only serves to fulfil the admission requirements; they are not included in the Master's degree programme in terms of grades or ECTS credit points.

If you have any questions about the prerequisites and the modules to be taken, you can contact the study programme coordination at any time.

Programme Coordination M.Sc. IEM Guide for conditional Master students

Choice of Study Tracks

Students of the M.Sc. International Economics and Management have the opportunity to choose an informal study track as part of their studies. The following study tracks are currently offered: Data Science in Economics, Cooperation and Competition or Global Markets and Globalization. The successful completion of a study track requires the selection of a specific combination of modules corresponding to the chosen study track (30 ECTS + Master's thesis). As soon as the modules assigned to the study track have been completed and the Master's thesis has been registered, confirmation of the choice of study track must be applied for from the program coordinator. This application for designation must be made before completion of the Master's thesis/the respective module (as the last course achievement), as designation can no longer be carried out after completion of the degree program. The completion of the study track will then be shown on the degree certificate.

Choice of Study Tracks

Data Science in Economics

Students who choose the Data Science in Economics track acquire theoretical knowledge of modern statistical and econometric methods and gain practical skills and experience in the processing, analysis and visualisation of structured or unstructured data. Special emphasis is placed on methods of causal analysis, forecasting economic and financial data, big data and statistical learning as well as the acquisition and application of programming skills in R, Stata or Python. Students also learn to understand the economic value of data and to interpret and effectively communicate the results of their analyses.

Data scientists are highly sought after by companies in all industries as well as public institutions, especially when they combine technical skills with a sound knowledge of statistical principles and economic thinking. In addition to excellent earning and career opportunities in the private sector, graduates with a specialisation in Data Science in Economics have all the skills and knowledge necessary for a successful career in an empirically oriented field of science, such as an empirical doctoral dissertation in economics.

Master's thesis

For the Data Science in Economics track, the following counts as a Master's thesis:

Any Master's thesis supervised by Professors Yuanhua Feng, Oliver Müller or Hendrik Schmitz. Regardless of the specific topic.
A Master's thesis supervised by any other professor in Faculty 1 (Management) or Faculty 4 (Economics) in which you conduct an empirical analysis.

List of possible modules

This list is complete. If a module is offered at the faculty that could fit with Data Science but is not listed here, this module unfortunately cannot be credited. Unfortunately, this module does not count for the Data Science Track
This list also contains modules that are no longer offered. Nevertheless, these modules are included in the list as some students have taken them in the past and can use them for the Data Science Track.
The compulsory module M.184.4479 Econometrics is not included in this list. 30 ECTS are required in addition to M.184.4479 Econometrics.

Module number	Module name	Module coordinator	ECTS	Currently offered (summer semester 2025)
M.184.4451	Financial Econometrics and Quantitative Risk Management	Feng, Yuanhua	5	X
M.184.4454	R for Data Science	Feng, Yuanhua	5
M.184.5452	Topics in Financial and Economic Data Science	Feng, Yuanhua	5
M.184.5451	Statistical Learning for Data Science with R and Python	Feng, Yuanhua	5
M.184.5453	Advanced Time Series Analysis and Forecasting	Feng, Yuanhua	5
M.184.4475	Applied Microeconometrics using Stata	Lück, Sonja	5	X
M.184.5480	Seminar Microeconometrics	Schmitz, Hendrik	5	X
M.184.5489	Microeconometrics	Schmitz, Hendrik	10	X
M.184.5481	Using Big Data to Solve Economic and Social Problems	Kesternich, Martin	5
M.184.5333	Data Science for Business	Müller, Oliver	5
M.184.5331	Applied Machine Learning for Text Analysis	Müller, Oliver	10
M.184.5334	Deep Learning for Computer Vision	Müller, Oliver	10
M.184.5362	Advanced Models and Methods of Operations Research	Schryen, Guido	10	X
M.184.5363	OR Case Studies	Schryen, Guido	10
M.184.4487	Special specialisation in econometrics/statistics in the Master's programme	Feng, Yuanhua/Schmitz, Hendrik	5
M.184.4488	Special specialisation in econometrics/statistics in the Master's programme	Feng, Yuanhua/Schmitz, Hendrik	10
M.184.4452	Advanced Econometrics using R and Python	Feng, Yuanhua	5
M.184.5420	Impact Evaluation in Environmental Economics Using Field Experiments	Kesternich, Martin	5	X
M.184.5498	Economic Research	Schmitz, Hendrik	10

Study track coordinator: Prof. Dr. Hendrik Schmitz

Cooperation and Competition

Cooperation and competition are two sides of the same coin and are at the centre of social interaction. This applies at various levels. Individuals compete for scarce opportunities such as well-paid jobs, excellent grades or mating opportunities. Recurring opportunities open up the scope for co-operation and the formation of social networks. Companies compete for customers. Repeated competition creates incentives for cooperation, such as collusive behaviour. Nations compete for resources, land or a clean environment. Repeated interaction and the threat of permanent collapse open up opportunities for co-operative agreements that can ultimately save our planet.

The Cooperation and Competition track brings together all modules related to these core problems of social interaction. From the perspective of consumers, businesses and society, this track provides students with the necessary knowledge and skills for an in-depth and thorough analysis of cooperation and competition. Our graduates have found jobs in strategy consultancies, competition authorities, economic research institutes, healthcare and academic institutions.

List of possible modules

This list is complete. If a module is offered at the faculty that could fit Cooperation and Competition but is not listed here, this module unfortunately cannot be credited. Unfortunately, this module does not count for the Cooperation and Competition Track.
This list also contains modules that are no longer offered. Nevertheless, these modules are included in the list because some students have taken them in the past and can use them for the Cooperation and Competition track.

Module number	Module name	Module coordinator	ECTS	Currently offered (summer semester 2025)
M.184.4442	Seminar on Game Theory	Haake, Claus-Jochen	5
M.184.4443	Cooperative Games	Haake, Claus-Jochen	5
M.184.4444	Noncooperative Games	Haake, Claus-Jochen	5
M.184.4466	Advanced Microeconomics	Haake, Claus-Jochen	5
M.184.4467	Auctions, Incentives, Matchings	Haake, Claus-Jochen	10	X
M.184.4468	Advanced Game Theory	Haake, Claus-Jochen	5
M.184.4469	Advanced Game Theory	Haake, Claus-Jochen	10
M.184.4490	Topics in Competition Policy	Hehenkamp, Burkhard	5
M.184.4492	Health Economics - An International and Institutional Perspective	Hehenkamp, Burkhard	5	X
M.184.4497	Cases in Competition Policy	Hehenkamp, Burkhard	5	X
M.184.4498	Contests and Innovation	Hehenkamp, Burkhard	5
M.184.4499	Seminar Contests and Innovation	Hehenkamp, Burkhard	5
M.184.5490	Seminar Information Economics	Hehenkamp, Burkhard	5

Study track coordinator: Prof. Dr. Burkhard Hehenkamp

Globalisation and Global Markets

The primary aim of the Globalisation and Global Markets track is to provide students with a deeper insight into modern globalisation and the different conceptions of it among academics and the public. The focus is on the future of globalisation and how to achieve balanced global development as we face today's global challenges in the fields of world trade, finance and labour markets.

For decades, economists, politicians and business leaders have written about globalisation with very different views and perspectives. While many have pushed globalisation in finance and trade, others have questioned the merits of globalisation, the role of international trade organisations and the benefits of a global economy that sponsors free trade and global markets.

However, globalisation is unstoppable. The result is a new commercial reality - the emergence of global markets for standardised consumer goods and services on an unprecedented scale. Companies that have adapted to this new reality benefit from enormous economies of scale, scope and control in production, sales, marketing and management. By translating these advantages into lower world market prices, they can decimate competitors who are still stuck in the old assumptions about how the world works. Managing globalisation requires a balance between markets and regulation and between the global economy and the nation state.

Given the ever-changing world situation, future business leaders and political representatives in a globalised world with global markets will be required to have new skills and core methodological competencies, such as knowledge of industrial ecology, to achieve sustainable levels of production in a circular economy business model. The career opportunities available to those who have acquired the extensive catalogue of required skills that underpin this track will not only challenge us all, but will also open their minds to an unrelenting passion to make the world a better place for us all. A "win-win" situation for all of us now and for future generations.

List of possible modules

This list is complete. If a module is offered at the faculty that could fit Globalisation and Global Markets but is not listed here, unfortunately this module cannot be credited. Unfortunately, this module does not count for the Globalisation and Global Markets Track.
This list also contains modules that are no longer offered. Nevertheless, these modules are included in the list because some students have taken them in the past and can use them for the Globalisation and Global Markets track.

Module number	Module name	Module coordinator	ECTS	Currently offered (summer semester 2025)
M.184.4411	International Finance - Currencies and Exchange Rates	Gries, Thomas	10
M.184.4412	Global Growth and Development - Perspectives of Global Regions	Gries, Thomas	10	X
M.184.4417	Applied Global Growth and Development (not offered anymore)	Redlin, Margarete	5
M.184.4418	Quantitative Trade Policy Analysis	Aichele, Rahel	10
M.184.4420	International Economics	Baumgarten, Daniel	5	X
M.184.4421	International Economics (not offered anymore)	Gilroy, Bernard Michael	10
M.184.4423	Economic Foundations of Development Theory and Policy (not offered anymore)	Gilroy, Bernard Michael	5
M.184.4426	Advanced Macroeconomics ( not offered anymore)	Gilroy, Bernard Michael	10
M.184.4425	Applied Financial Economics ( not offered anymore)	Peitz, Christian	5
M.184.4427	Seminar Applied International Economics	Baumgarten, Daniel	5
M.184.4428	Advanced Topics in Labour Economics	Baumgarten, Daniel	5

Study track coordinator: Prof. Dr. Thomas Gries

FAQs Study Tracks

Do I have to choose a study track?

It is not compulsory to choose a study track. The M.Sc. International Economics and Management programme covers a broad spectrum of subjects and opens up the possibility of a wide range of internationally oriented career paths. A specialisation offers you the opportunity to focus on a specific subject area and to make the corresponding profile within the degree programme even more visible to the outside world.

When can I choose a study track?

Students enrolled in the M.Sc. International Economics and Management have the opportunity to choose a Master's study track. If you are already enrolled, please make sure that you have enough ECTS credits free to complete the study track. The 30 ECTS must be completed as part of the elective modules (economic/general electives; not in the additional area).

How can I choose and apply for a study track?

You can decide to choose a study track at any time during your Master's degree programme up to the time you register for your Master's thesis, as long as you meet the necessary requirements for the study track (you must have at least 30 open ECTS credits to be able to complete modules in the study track). You do not need to register or apply for the study track.

To apply for confirmation from the degree programme coordinator, you must request a grade overview from PAUL and send it to the degree programme coordinator (msc-iem@campus.uni-paderborn.de) together with the confirmation of your thesis. The confirmation will then be automatically forwarded to the Examinations Office so that the study track is noted on the degree certificate.

Important: As soon as the modules assigned to the study track have been completed and the Master's thesis has been registered, confirmation of the choice of study track must be requested from the programme coordinator. This request for designation must be made before completion of the Master's thesis/module (as the last course achievement), as designation can no longer be carried out after completion of the degree programme.

Which modules fit into my chosen study track?

The module lists for the study tracks can be found above in the field "Choice of informal study tracks". You must select modules totalling 30 ECTS from the module list assigned to the study tracks.

The modules in the study track are subject to the same regulations as all other modules. It is therefore important that you register for modules in the study track with a limited number of participants during the first registration phase.

Master's thesis: How do I find a suitable supervisor for my thesis?

The allocation to chairs for theses is carried out via the central allocation procedure for theses (except Department 3). It is therefore important that you select the most suitable supervisors for your chosen study track as part of the central allocation procedure for theses. If you are assigned a different supervisor, ask them for a topic that matches your specialisation. Have the confirmation form filled out so that you can submit it with your application.

Study track and other study programmes

In principle, it is possible to complete a study track together with other study programmes, such as the ASBE programme, the double Master's programme with Tohoku University or other programmes abroad, provided that all requirements are met. Courses that you complete at other universities can be recognised for modules of the study track, but you must pay particular attention to the choice of your modules.

Where can I get more information on the individual study tracks?

For information on the general procedure, you can contact the programme coordinator of the M.Sc. International Economics and Management programme.

For information on specific questions about the study tracks, you can contact the coordinator responsible for the individual specialisations. You can find the contact information in the respective field above.

Recognition of German Courses for International Students

As knowledge of German is an admission requirement for international students, and we also want you to integrate and feel at home with us, you must demonstrate knowledge of at least level A2 CEFR before completing the Master's programme.

Please note that only the following certificates are recognised:

Goethe-Institut certificates (level A2 or better)
TestDAF (TDN 3, TDN 4, TDN 5)
"German Language Test for University Entrance" (DSH) (DSH 1, DSH 2, DSH 3)
(a computer-based test ("C-Test procedure") directly after enrolment at Paderborn University)

Other (external) certificates cannot be recognised.

The required knowledge can also be acquired at Paderborn University in German courses lasting 240 hours.

The German courses (at least level A2) can be credited as “German for international students” in the compulsory elective area “General Elective” (5/10 ECTS). The grades are weighted according to the credits (starting with the course that fulfills the minimum requirements and then from top to bottom).

To credit these courses, please submit the examination certificate in Q4.334 OR send a copy to msc-iem@campus.uni-paderborn.de. Crediting is possible until the registration of the Master's thesis at the latest.

IMPORTANT!

If you do not wish to have any German courses credited, the language certificate A2.2 must be submitted to the Examinations Office by the time you register for your Master's thesis at the latest.

Double Master's programme of the Universities of Paderborn and Tohoku

Paderborn University and Tohoku University, Japan, offer a double Master's programme. It enables students to study simultaneously at both institutions and obtain a Master's degree in both the M.Sc. IEM and the Global Programme in Economics and Management at the University of Tokoku in four semesters.

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Asian Studies in Business & Economics

ASBE programme

Students of Master's degree programmes at the Faculty of Business Administration and Economics can apply for the Asian Studies in Business and Economics (ASBE) programme with a study visit to a partner university in Asia in the respective winter semester. The ASBE programme offers the best opportunity to shape your own CV in an international and targeted way.

The ASBE programme is based on 3 phases and comprises 4 modules (40 ECTS):

Phase 1: Foundations and preparatory measures
Phase 2: Events and studies in Asia
Phase 3: Presentation, evaluation and reflection

Further information on the ASBE programme can be found here.

Recognition of the ASBE programme in the M.Sc. IEM

Students participating in the Asian Studies in Business and Economics programme can have the ASBE I-IV modules credited in full.

The following regulation applies to the M.Sc. International Economics and Management programme:

Each of the modules ASBE (I), ASBE (III) and ASBE (IV) is an elective module in terms of examinations, which can generally be assigned to the field of "Economics: International Economics" (Econ-Elective). This assignment is predefined for the ASBE module (I).
The ASBE module (II) is essentially a project work, which is partly completed in Paderborn and partly in Asia. The project work can be supervised by any professorship in Department 4: Economics. In this case, the module must be assigned to the field of "Economics: International Economics" (Econ-Elective) as an elective module. If the project work is supervised by a professor from one of the other departments, it must be assigned either as an elective module in the field of "Business Administration: Management" (Management-Elective) or as a free elective module "General-Elective".
At least one of the modules ASBE (II), (III) and (IV) must be assigned to the field of "Business Administration: Management" (Management Elective) or the free elective module "General Elective". In addition to 2., crediting requires a corresponding specialisation of the module.
For crediting as a free elective module "General Elective", the fields "Business Administration: Management", "Business Administration: Taxation, Accounting & Finance", "Business Administration: Production, Logistics and Controlling", "Economics: International Economics", "Business Law", "Methods", "Business Education" or "Business Informatics" are available for selection. The assignment must be specified.

ASBE sample study plan

International Forum Economics and Management

The International Forum Economics and Management (IFEM) aims to create a platform for communication between international and German students on various topics. Through question-and-answer sessions, social activities and interesting discussions, students come into contact with other cultures and have the opportunity to exchange ideas about different customs, languages and economic research in different countries. Under the motto "Internationalisation at home", German students have the opportunity to get to know international students and the latter gain a deeper insight into German life. Certificates can be issued for successful participation.

Are you interested in the International Forum? Come to our events!

You can become a member of the International Forum Economics and Management (IFEM) and receive information and invitations to current events by sending us an e-mail: ifem@campus.uni-paderborn.de

(We are also happy to add you to our WhatsApp group if you send us your phone number!)

We look forward to meeting you!

Module Selection for Job Profiles

Job profile "Manager in Multinational Enterprise"

Characteristics:

Focus on internationalisation and competition in the field of Economics
Use of the elective module to expand the management content
Fewer methodological modules

Exemplary modules:

M.184.4173 Strategic Management

Example study plan "Manager in Multinational Enterprise"

Job profile "International Organisation"

Characteristics:

Specialisation through a mixture of internationalisation and research-oriented modules
Depending on the planned specialisation, methodological supplementation

Exemplary modules:

M.184.4411 International Finance - Currencies and Exchange Rates
M.184.4451 Financial and Time Series Econometrics

Example study plan "International Organisation"

Job profile "Work in NGOs"

Characteristics:

Specialisation in the field of Economics in modules focusing on growth, development, environment, globalisation
Strategic and globalisation-oriented modules in the management and elective area

Exemplary modules:

M.184.4412 Global Growth and Development - Perspectives of Global Regions
M.184.4423 Economic Foundations of Development Theory and Policy

Example study plan "Work in NGOs"

Job profile "Research-oriented Career"

Characteristics:

Higher proportion of methods
Specialisation in the field of Economics
Research-orientated modules in the fields of Economics and Management

Exemplary modules:

M.184.4413 Research and Independent Studies in Economics
M.184.4452 Advanced Methods of Empirical Economic Research

Example study plan "Research-oriented career"

General information on course content and the study plan, admission requirements, application information, career prospects and the start of the programme can be found on the programme website.

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