Courses - MSc in Economics
Your opportunities for course electives
Before you choose which courses you wish to follow, it is important that you familiarise yourself with the rules for course composition in your academic regulations. The requirements for the course composition are listed under the study diagram.
When considering which elective courses you wish to attend, please pay attention to the principles used for the time tables to avoid overlapping courses. Find the course clusters in the Course registration section or check the Timetables for overlapping courses.
Make sure to pay attention to the courses here, if you are studying Public Policy.
As there are several elective course variants, you can choose between several options within your mobility window:
- Electives at Aarhus University (offered for your study programme)
- Pre-approved courses
- Elective courses at AU Summer University
- Elective courses at a foreign university (exchange)
- Project-based Internship
- Non-pre-approved elective courses at Aarhus University and elective courses at other universities in Denmark (requires pre-approval).
Core courses
If you are enrolled in the master's degree programme in Economics without specialisation, you must make sure that at least three of your elective courses are core courses. The master's degree programme in Economics offers the following 13 core courses:
From autumn 2025 onwards, course codes will no longer be included in the titles. The former course codes are listed in parentheses below.
Courses in the Autumn semester
(4105:) Theories of the Firm
(4394:) Financial Econometrics
(4407:) Labour Economics
(4425:) Micro 2
(4505:) Macro 2
(4518:) Economics of the Welfare State (core course from the 2024 academic regulations)
(4615:) Microeconometrics
(4616:) Time Series Econometrics
(5360:) Financial Engineering
(5362:) Empirical Asset Pricing
The course 4325: Accounting for Decision and Control is no longer offered from Autumn 2023 onwards.
Courses in the Spring semester
(4118:) Business Data Analysis
(4427:) Economics of Competition and Regulation (Kernefag for 2024-studieordningen)
(4542:) Monetary Economics
(5361:) Macro Finance
Curriculum - Autumn 2025
Please refer to the AU course catalogue for the full curriculum.
Finance
Course structure in Finance (latest update: March 2025)
Asset Pricing (10 ECTS) – joint lessons with cand.merc.
Corporate Finance (10 ECTS) – joint lessons with cand.merc.
Financial Engineering (10 ECTS) - Core Course
Empirical Asset Pricing (10 ECTS) - Core Course
(P) Empirical Asset Pricing (10 ECTS)
Economics
Micro
Theories of the Firm (10 ECTS) – Core Course
Labour Economics (10 ECTS) – Core Course
Micro 2 (10 ECTS) – Core Course
Politics and Economics of the EU (10 ECTS)
Economics of Education and Inequality (10 ECTS)
Health Economics (10 ECTS)
5419: Behavioral Economics and Finance (10 ECTS)
5440: (P) Environmental Economics (10 ECTS)
Macro
Macro 2 (10 ECTS) – Core Course
The Economics of the Welfare State (10 ECTS) - Core Course from 2024 onwards
International Economics (10 ECTS)
Economic Growth and the Environment (10 ECTS)
Econometrics
Financial Econometrics (10 ECTS) – Core Course
Microeconometrics (10 ECTS) – Core Course
Time Series Econometrics (10 ECTS) – Core Course
Machine Learning Methods in Empirical Economics (10 ECTS)
(P) Appl. Micro Econometrics (10 ECTS)
Intensive courses in August 2025
Summer Topics in Economics (5 ECTS)
Summer Topics in Economics (10 ECTS)
Registration
You register for August courses in May at the same time as registration for courses placed in the Autumn semester.
Reexamination
The exams take place according to the following schedule:
Regular exam: August
1st re-exam: February
2nd re-exam: subsequent summer term (June/August)
Registration must be done via self-service, however, for the 3rd offering, registration must be done via email to the study administration at kandidat.bss@au.dk. You must use your AU email (student studentnumber@post.au.dk).
Curriculum - Spring 2025
Please refer to the AU course catalogue for the full curriculum.
Accounting
No courses in this Teaching Group for this Spring Semester
Finance
Course structure in 'Finance' (latest update: march 2024)
4347: Derivatives (10 ECTS) (Joint lessons with Derivatives at cand.merc.)
5361: Macro Finance (10 ECTS) – Core Course (joint lessons with 6371 – students are not allowed to enroll to both courses)
6371: Advanced Macro Finance (10 ECTS) (joint lessons with 5361 – students are not allowed to enroll to both courses)
Economics
Micro
4427: Economics of Competition and Regulation (10 ECTS)
5415: (P) Micro and Macro Models of the Labor Market (10 ECTS) ) (joint lessons with 6425 – students are not allowed to enrol in both courses)
6425: Advanced Micro and Macro Models of the Labor Market (10 ECTS) (joint lessons with 5415 – students are not allowed to enrol in both courses)
5425: (P) Applied Public Policy (10 ECTS)
6452: Advanced Microeconomics (5 ECTS)
6454: Behavioural Consumer Theory (5 ECTS)
Macro
4542: Monetary Economics (10 ECTS) – Core Course
4562: Housing Economics and Policy (10 ECTS)
Econometrics
4118: Business Data Analysis (10 ECTS) – Core Course
5620: (P) Economic Forecasting (P) (10 ECTS) (joint lessons with 6620 – students are not allowed to enrol in both courses)
6620: Advanced Economic Forecasting (10 ECTS) (joint lessons with 5620 – students are not allowed to enrol in both courses)
5646: (P) Applied Time Series Econometrics (10 ECTS) (joint lessons with 6646 – students are not allowed to enrol in both courses)
6646: Advanced Applied Time Series Econometrics (10 ECTS) (joint lessons with 5646 – students are not allowed to enrol in both courses)
6652: Advanced Econometrics (10 ECTS)
Pre-approved courses
The pre-approved courses will be a part of the mobility window in the Study Programme. For further information see your Academic Regulations.
Please note that time table overlaps may occur between oecon and courses offered by other Study Boards.
Registration is via the student self-service facility in the normal registration period.
Pre-approved courses – Spring 2025
Please find the course descriptions in the course catalogue.
Preapproved merc.-courses:
Empirical Corporate Finance (10 ECTS) (level: 5xxx)
Corporate Valuation (10 ECTS) (level: 4xxx)
Financial Intermediation (10 ECTS) (level: 5xxx)
Risk Management (10 ECTS) (level: 4xxx)
Asset Management (10 ECTS)
Pre-approved courses – Autumn 2025
Please find the course descriptions in the course catalogue.
Preapproved courses at Mathematics-Economics:
Pricing and Hedging of Derivatives (10 ECTS)
Preapproved courses at Statistics:
Monte Carlo Simulation (10 ECTS)
Preapproved cand.merc.-courses:
International Finance (10 ECTS)
Real Estate Finance and Investments (5 ECTS)
Generative AI with LLMs (5 ECTS)
AI Business Experiments (5 ECTS)
Reinforcement Learning for Business (10 ECTS)
Accounting Theory (cand.merc.aud) (5 ECTS)
Financial Accounting Regulation (cand.merc.aud) (10 ECTS)
