Top 10 German Universities to Study Economics and Econometrics 2020
Economics is a key member of the family of social sciences. It encompasses all the disciplines and issues that are related to economic and financial situations and systems.
Areas of study under Economics cover every aspect between production and consumption and also the study of how resources are sourced, allocated, consumed and replenished all over the world. Economists must therefore study elements of Politics, Geography, Law, Math, History, Psychology, and Public Relations at both local and international scopes.
The field of Economics consists of two broad categories, which are: Macro-economics and Micro-economics.
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Macroeconomics holistically studies the economies of entire systems and territories (like countries), highlighting issues such as Inflation, GDP, Economic growth and Policies, and Employment Rates.
On the other hand, Micro-economics studies the details of the constituents of the economy. It takes a close look at consumer behaviour and perception, exchanges and linkages between households, organizations and producers, among similar issues. Students of Economics are provided with deeper understanding of how the world works and how markets function. This includes analysis on how goods, products and services are priced, how they are distributed and marketed, and how different countries in different climes have widely-varying standards of living and GDP.
Conversely, econometrics deals more with statistics and quantitative analysis. It is essentially the application or integration of statistical mechanisms and methods to economic data, in order to postulate theories or test existing economic hypotheses. It may also be applied in forecasting future trends by analyzing past and present data.
Eventually, the knowledge of economics and econometrics will help students to make better decisions concerning daily or periodic issues in life or at work, and also imbue them with the ability to solve complex problems in a complex world.
To ensure this, many universities offer students the opportunity to practice what they have learnt so far in a real-life work environment. Students gain invaluable skills and perspective of the workplace, thus making them both knowledgeable about the field and suitable for jobs upon graduation.
Graduates of economics typically work for banks, investment advisors or stock exchange managers. A handful work in academia, and the rest live their careers as Consultants or government staff.
Whatever your career choices are, an education in Economics leaves you thoroughly-equipped to add good value wherever you are placed.
The field of Economics and Econometrics holds immense potential for those seeking careers therein, and there is a growing demand for economic experts from around the word to help address the economic challenges and to provide viable solutions to economic problems.
Germany stands out an a world-class provider of excellent university education to both local and international students.
Furthermore, degrees from German Universities are regarded highly all over the world, as opposed to degrees acquired from some under-developed and developing countries.
If you want to build a successful and impactful career as an Economist, you should seek to get educated at a top study destination like Germany. Many universities in Germany rank among the top institutions offering quality education in Economics and Econometrics.
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This post highlights the top ten German universities for studying Economics and Econometrics in 2020, courtesy of After School Africa. Scroll down to view the list below:
- Ludwig-Maximilians-Universität München (LMU Munich)
- Heidelberg University
- Humboldt University of Berlin
- University of Freiburg
- University of Tübingen
- RWTH Aachen
- University of Bonn
- Free University of Berlin
- Georg-August-Universität Göttingen
- Ulm University
Ludwig-Maximilians-Universität München (LMU Munich)
This university is a global leader in the field of education. According to the Times Higher Education World University Rankings for 2020, the university ranked 1st overall in Germany and 32nd overall in the world. Degree programs that are available in the Department of Economics at the university include: Economics Majors; B.Sc. Economics, M.Sc. Economics, Master in Quantitative Economics (MQE); Bologna-minors; and Ph.D. program in Economics, offered by the Munich Graduate School of Economics. Students get to benefit from intensive, demanding course work and exposure to research. Find out more information here: www.en.econ.uni-muenchen.de/studies/degree_programs/dokt_stud/index.html
The Faculty of Economics and Social Sciences at Heidelberg university is one of the most prestigious in the country. The faculty of economics at the university features a perfect blend of economics and econometrics with contemporary economic concepts and principles; for example, behavioural and psychological economics. Additionally, students enrolled at any of the available programs also have the opportunity to learn about adjacent disciplines under the social science umbrella, like sociology and politics. This integrated approach to economics education yields high quality graduates who go on to become successful in their careers later in life.
To find out more about the courses offered in this faculty, visit their website at: www.uni-heidelberg.de/en/study/all-subjects/economics
Humboldt University of Berlin
Since inception, the faculty of Economics and Business Administration at the Humboldt University of Berlin has distinguished itself through its continued commitment to ground-breaking research and intensive teaching in all aspects of Economics. Their approach reveals a slight focus on the application of quantitative methods and concepts to economic issues. The faculty boasts a wide range of courses and programs at undergraduate, masters and postgraduate levels, both in Economics, Business Administration, and related specializations.
More information about this university can be found at their website: www.hu-berlin.de/en/studies/counselling/course-catalogue/program-descriptions/vwl
University of Freiburg
According to the Times Higher Education World University Rankings for 2020, the University of Freiburg ranked 4th best in Germany and 86th on the world rankings among universities offering programs in Economics and Econometrics. Albert Ludwigs University of Freiburg (as it is officially called) is one of the topmost research institutions in Germany, with a rich history dating back several decades.
The Faculty of Economics and Behavioral Sciences offers Bachelor’s, Master’s and Doctorate degree programs in Economics, Business and Management to both local and international students. The faculty and staff are renown for their expertise in the subject, and students who graduate from here are in high demand in the job market.
For more information about the university, go to www.uni-freiburg.de
University of Tübingen
Following hot on the heels of the University of Freiburg is another university, the University of Tübingen. It ranks 91st on the Times Higher Education World University Rankings for 2020 in Economics and Econometrics. The school’s faculty of economics and social sciences combines a theoretical and method-based approach to teaching and research, all with a contemporary and international scope, thus producing economics graduates of the highest standard.
For more information about the university and their programs, visit their website at www.uni-tuebingen.de
Sixth on the list of top ten universities in Germany to study Economics and Econometrics is the Rheinisch-Westfälische Technische Hochschule (RWTH) Aachen. It also ranks 99th on the Times Higher Education World University Rankings for 2020 in Economics and Econometrics. All the programs and courses offered by the School of Business and Economics at RWTH Aachen imbue students with the knowledge, skills and abilities to enter into the real corporate world and to thrive in the harsh professional climate that exists in many climes and organizations. Students also have the opportunity to gain international exposure during their study.
Find more information at www.wiwi.rwth-aachen.de
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University of Bonn
For the first time in a very long time, the University of Bonn features on the top ten listing for top universities in Germany. According to the 2020 Times Higher Education World University Rankings in Economics and Econometrics, the university ranked 7th in Germany and 105th in the world. Requirements for studying here are relatively the same as with other universities in Germany and Europe, and international students are required to have IELTS test scores sent and approved by them before they may gain admission to study courses in English language medium.
Find more specific information about the Economics program at the University of Bonn at: www.econ.uni-bonn.de
Free University of Berlin
The School of Economics and Business at the Freie Universität du Berlin offers a wide range of program options in Economics, Business, Accounting and Finance for students to choose from. Whether you are an undergraduate, master’s level or doctorate level student, this faculty has a course that suits your aspirations. Little wonder, they rank highly among other German universities offering Economics and Econometrics courses. As per the Times Higher Education World University Rankings in Economics and Econometrics for 2020, the university ranked 8th in Germany and 117th in the world.
Find more information at www.fu-berlin.de.
The faculty of Business and Economics prides itself in providing excellent, holistic and multidisciplinary education to students at all levels of study. It offers great education to both local and international students, and many courses are provided in English language medium. In addition to the courses and programs offered, the faculty also boasts a vibrant international and multicultural community with a strong emphasis on research and international industry exposure.
For further information about the faculty of Business and Economics, please visit the official website at: www.uni-gottingen.de/en
This year’s surprise candidate is the Ulm University, Germany. It ranks 10th in Germany and 141st in the world based on the Times Higher Education 2020 World University Rankings for Economics and Econometrics. The university is particularly warm and welcoming to international students. The faculty of Economics offers several undergraduate, master’s and doctorate programs for professionals to get trained in.
For further information, please visit their website at: www.uni-ulm.de
Now you know the top ten German Universities to study Economics and Econometrics. Need more information endeavour to click on the links to each individual school’s official website for detailed information. Drop your comments in the column below.