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:

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:

Courses in the Autumn semester

4325: Accounting for Decision and Control
4105: Theories of the Firm 
4407: Labour Economics 
4425: Micro 2
4505: Macro 2 
4394: Financial Econometrics 
4615: Microeconometrics 
4616: Time Series Econometrics
5360: Financial Engineering

Courses in the Spring semester

5361: Macro Finance 
5362: Empirical Asset Pricing 
4542: Monetary Economics 
4118: Business Data Analysis 

Intensive courses in August 2023

5419: Behavioral Economics and Finance (10 ECTS) - CANCELLED IN AUGUST 2023

4805: Summer Topics in Economics (5 ECTS)
4810: Summer Topics in Economics (10 ECTS)


You register for August courses in May at the same time as registration for courses placed in the Autumn semester.


Deadline for registration for reexamination is on October 15.
You register by sending an email to When you contact us via email, always use your AU-mail..

Curriculum - Autumn 2023

Please refer to the AU course catalogue for the full curriculum.

4325: Accounting for Decision and Control (10 ECTS) – Core Course - CANCELLED IN 2023


Course structure in Finance (latest update: April 2023)

4345: Asset Pricing (10 ECTS) – joint lessons with cand.merc.
4346: Corporate Finance (10 ECTS) – joint lessons with cand.merc.
5360: Financial Engineering (10 ECTS) – Core Course
6361: Advanced Financial Engineering (10 ECTS)


4105: Theories of the Firm (10 ECTS) – Core Course
4407: Labour Economics (10 ECTS) – Core Course
4425: Micro 2 (10 ECTS) – Core Course
4428: Politics and Economics of the EU (10 ECTS)
5102: Economics of Marketing (10 ECTS) - CANCELLED IN 2023
5418: Health Economics (10 ECTS)
5440: Environmental Economics (P) (10 ECTS)
5461: Development Economics (10 ECTS) - CANCELLED IN 2023

4505: Macro 2 (10 ECTS) – Core Course
4518: The Economics of the Welfare State (10 ECTS)
5522: International Economics (10 ECTS) - CANCELLED IN 2023
5524: Economic Growth and the Environment (10 ECTS)

4394: Financial Econometrics (10 ECTS) – Core Course
4615: Microeconometrics (10 ECTS) – Core Course
4616: Time Series Econometrics (10 ECTS) – Core Course
4645: Machine Learning Methods in Empirical Economics (10 ECTS)
5637: Appl. Micro Econometrics (P) (10 ECTS)
6954: Mathematical Analysis (10 ECTS)

Curriculum - Spring 2023

Please refer to the AU course catalogue for the full curriculum.


No courses in this Teaching Group for Spring 2022

Course structure in Finance (latest update: March 2022)

4347: Derivatives (10 ECTS) (Joint lessons with Derivatives at cand.merc.)
5361: Macro Finance (10 ECTS) – Core Course
5362: Empirical Asset Pricing (10 ECTS) – Core Course
5363: Empirical Asset Pricing (P) (10 ECTS)


4427: Economics of Competition and Regulation (10 ECTS)
5401: Empirical Human Ressource Management (10 ECTS)
5415: Micro and Macro Models of the Labor Market (P) (10 ECTS)
5425: Applied Public Policy (P) (10 ECTS)
6450: Advanced Microeconomic Theory (10 ECTS)
6455: Decision Theory (5 ECTS) (second part of 6450: Advanced Microeconomic Theory)

4542: Monetary Economics (10 ECTS) – Core Course
4562: Housing Economics and Policy (10 ECTS)
5527: The Economics of Pension and Demographics (10 ECTS)


4118: Business Data Analysis (10 ECTS) – Core Course
5620: Economic Forecasting (P) (10 ECTS)
6327: Advanced Financial Econometrics (10 ECTS)
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 – Autumn 2023

Please find the course descriptions in the course catalogue.

Preapproved courses at Mathematics-Economics: 
Pricing and Hedging of Derivatives (10 ECTS) (level: 6xxx)
Graph Theory 1 (10 ECTS) (level: 5xxx)
Multiple Criteria Optimization (10 ECTS) (niveau: 5xxx)
Insurance Mathematics (10 ECTS) (niveau: 6xxx)

Preapproved courses at Statistics:
Monte Carlo Simulation (10 ECTS) (level: 6xxx)

Preapproved merc.-courses:
International Finance (10 ECTS) (niveau: 5xxx)
Real Estate Finance and Investments (5 ECTS) (niveau: 5xxx)
AI for Business Intelligence (10 ECTS) (niveau: 5xxx)

Accounting Theory (cand.merc.aud) (5 ECTS) (niveau: 5xxx)
Financial Accounting Regulation (cand.merc.aud) (10 ECTS) (niveau: 5xxx)

Pre-approved courses – Spring 2023

Please find the course descriptions in the course catalogue.

Preapproved courses at Mathematics-Economics: 
Fixed Income Analysis (10 ECTS) (level: 6xxx)
Mixed Integer Optimization (10 ECTS) (level: 5xxx)
Applied Optimization: Vehicle Routing (10 ECTS) (level: 5xxx)
Modelling, Simulation and Analysis (10 ECTS) (level: 5xxx)

Preapproved merc.-courses:
Accounting Information Systems (5 ECTS) (level: 4xxx)
Organising and Leading Digitalisation (5 ECTS) (level: 4xxx)
Strategy (5 ECTS) (level: 4xxx)
Business-to-Business Purchasing Management (10 ECTS) (level: 4xxx)
Empirical Corporate Finance (5 ECTS) (level: 5xxx)
Corporate Valuation (10 ECTS) (level: 4xxx)
Financial Intermediation (10 ECTS) (level: 5xxx)