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Scholarships

Top 10 Best German Universities For Economics

Published by
Nathaniel Azamosa

Looking for the top German universities to study economics? Certainly, Germany has some of the best universities to make your dream a reality. Therefore, if you have the penchant to study economics and econometrics in Germany, this may be the opportunity to make your dream a reality. Here, in this article, you will get to know what made the course a special one, how you can study it in Germany and several other factors. Read on…

What is Economics?

 Generally, economics is a key member of the family of social sciences. Besides, it encompasses all the disciplines and issues that are related to economic and financial situations and systems.

Areas of study under Economics cover all aspects including 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, Maths, History, Psychology, and Public Relations at both local and international scopes.

Furthermore, the field of Economics consists of two broad categories, which are: Macro-Economics and Micro-Economics. 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, microeconomics studies the details of the constituents of the economy. It takes a close look at consumer behavior and perception, exchanges, and linkages between households, organizations, and producers, among similar issues. Thus, students of Economics are provided with a deeper understanding of how the world works and how markets function. This includes an analysis of 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.

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. Moreover, that is why we have listed the top German universities to study economics and econometrics.

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 world to help address the economic challenges and to provide viable solutions to economic problems.

Hence, Germany stands out as 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. Some of these Germain universities offer free tuition.

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.

Therefore, this post highlights the top German universities to study Economics and Econometrics, 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
  1. Ludwig-Maximilians-Universität München (LMU Munich)

This university is one of the top German universities to study economics and econometrics. Besides, it 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 coursework and exposure to research. Find out more information here: www.en.econ.uni-muenchen.de/studies/degree_programs/dokt_stud/index.html 

2. Heidelberg University

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, including behavioral and psychological economics. Additionally, students studying 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. In turn, these graduates go on to become successful in their

careers later in life. This is a strong reason that made the school one of the top German universities to study economics and econometrics.

To find out more about the courses offered in this faculty, visit their website at: www.uni-heidelberg.de/en/study/all-subjects/economics 

3. Humboldt University of Berlin

Since its 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. Furthermore, the faculty boasts a wide range of courses and programs at the undergraduate, master’s, and postgraduate levels. This is particularly in Economics, Business Administration, and related specializations. For that reason, we made it our third top German university to study economics and econometrics.

More information about this university can be found at their website: www.hu-berlin.de/en/studies/counselling/course-catalogue/program-descriptions/vwl 

4. University of Freiburg

According to the Times Higher Education World University Rankings for 2021, the University of Freiburg ranked 4th best in Germany and 86th on the world rankings among universities offering programs in Economics and Econometrics. The 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.

Additionally, 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 likewise famous for their expertise in the subject. Moreover, 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 

5. 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 2021 in Economics. Interestingly, 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, it produces economics graduates of the highest standard. That is why the school made it to the top German universities to study economics and econometrics.

For more information about the university and its programs, visit their website at www.uni-tuebingen.de 

6. RWTH Aachen

Sixth on the list of top universities in Germany to study Economics is the Rheinisch-Westfälische Technische Hochschule (RWTH) Aachen. It also ranks 99th on the Times Higher Education World University Rankings for 2021 in Economics. Further, 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 studies.

Find more information at www.wiwi.rwth-aachen.de 

7. University of Bonn

For the first time in a very long time, the University of Bonn is featured on the top ten listings for top German universities to study economics and econometrics. According to the 2021 Times Higher Education World University Rankings in Economics and Econometrics, the university ranked 7th in Germany and 105th in the world. Besides, the requirements for studying here are relatively the same as with other universities in Germany and Europe. Also, international students must have their IELTS test scores sent and approved by them before they may gain admission to study courses in the English language medium.

Find more specific information about the Economics program at the University of Bonn at: www.econ.uni-bonn.de 

8. 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 courses. As per the Times Higher Education World University Rankings in Economics for 2021, the university ranked 8th in Germany and 117th in the world. That is also why it

ranks #8 among our ten top German universities to study economics. 

Find more information at www.fu-berlin.de

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9. Georg-August-Universität Göttingen

The faculty of Business and Economics prides itself in providing excellent, holistic, and multidisciplinary education to students at all levels of study. Also, it offers great education to both local and international students. More to the point, 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 

10. Ulm University

This year’s surprise candidate of the top German universities to study economics is Ulm University, Germany. It ranks 10th in Germany and 141st in the world based on the Times Higher Education 2021 World University Rankings for Economics and Econometrics. The university is particularly warm and welcoming to international students. The faculty of Economics offers several undergraduates, 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 best German Universities to study Economics. As a result, if you need more information, endeavor to click on the links to each individual school’s official website for detailed information. Drop your comments in the column below.

This post was last modified on August 4, 2022 7:23 pm