M.Sc. Economics for Engineers and Natural Scientists
FernUniversität campus, Germany
Master of Science in Economics for Engineers and Natural Scientists
University of Hagen (FernUniversität in Hagen)
Economics
Program Overview: M.Sc. Economics for Engineers and Natural Scientists
The M.Sc. Economics for Engineers and Natural Scientists at FernUniversität in Hagen is specifically designed for graduates with a technical, scientific, or mathematical background who wish to gain a comprehensive understanding of economics and business administration. This distance learning program enables you to expand your professional horizons by combining your existing STEM expertise with essential economic knowledge.
In the compulsory part of the course, you will gain foundational insights into key areas of economics, including accounting, business management, microeconomics, and macroeconomics. The program also offers extensive elective options, allowing you to specialize in business and/or economics modules aligned with your professional goals and career aspirations.
As Germany's only state-funded distance learning university, FernUniversität in Hagen has been delivering high-quality academic education for around 50 years. The flexible study format allows you to adapt your studies to your life circumstances, making it ideal for working professionals seeking to advance into management or leadership roles.
Key Program Highlights
- Tailored specifically for graduates with engineering, natural science, or mathematics degrees — no prior economics knowledge required
- Maximum flexibility through modern distance learning with digital formats, posted study materials, and minimal on-campus attendance
- Internationally recognized M.Sc. degree from a state-run German university, equivalent to traditional Diplom and Magister qualifications
- Extensive elective catalog enabling personalized specialization in business administration and/or economics fields
Curriculum and Module Structure
The M.Sc. Economics for Engineers and Natural Scientists curriculum is divided into compulsory foundational modules and a broad elective program. The compulsory modules build your core economic knowledge, while electives allow you to specialize according to your career objectives and professional interests.
Foundations of Business Administration
10 ECTSCovers the fundamentals of business management including organizational theory, strategic management, and corporate decision-making processes relevant to modern enterprises.
External Accounting and Financial Reporting
10 ECTSIntroduces the principles of financial accounting, balance sheet analysis, and international reporting standards essential for understanding corporate financial health.
Microeconomics
10 ECTSExplores economic behavior at the individual and firm level, including market structures, pricing theory, consumer behavior, and resource allocation mechanisms.
Macroeconomics
10 ECTSExamines economy-wide phenomena such as GDP, inflation, unemployment, monetary and fiscal policy, and international economic relationships.
Investment and Finance
10 ECTSProvides a thorough grounding in corporate finance, investment appraisal methods, capital markets, and financial decision-making frameworks.
Master's Thesis
20 ECTSAn independent research project in which you apply economic theories and methods to a topic of your choice, demonstrating your ability to conduct scholarly work at an advanced level.
Elective Specialization Modules
Admission Requirements
This program is designed for applicants holding a degree in engineering, natural sciences, or mathematics. No prior knowledge of economics is required. Admission is subject to meeting the academic and language requirements outlined below. Contact Uni4Edu for personalized guidance on your application.
Academic Requirements
- Undergraduate DegreeCompleted bachelor's degree or equivalent (minimum 6 semesters) in engineering, natural sciences, mathematics, or a closely related technical discipline
- Degree ClassificationContact Uni4Edu for current minimum grade requirements
- Mathematical ContentSufficient mathematical and quantitative coursework in the prior degree program
- Technical BackgroundDegree must be in a STEM field — applicants with economics or business degrees should apply to the standard M.Sc. Economics program
- Prior Economics KnowledgeNot required — the program is specifically designed for students with no previous economics background
Language Requirements
- German ProficiencyThe program is offered and assessed exclusively in German; strong German language skills are essential
- DSH or TestDaFInternational applicants typically need DSH-2 or TestDaF 4x4 or equivalent certification
- Alternative ProofGoethe-Zertifikat C1 or completion of a German-language degree program may also be accepted
Required Documents
For personalized admission guidance, document verification, and application support, please contact Uni4Edu
Scholarships and Funding
FernUniversität in Hagen offers several funding opportunities to support students financially during their studies. As a state-funded university, semester contributions are already very affordable, and additional scholarships can further reduce the financial burden. Contact Uni4Edu for guidance on available funding options.
Deutschlandstipendium (Germany Scholarship)
EUR 300 per monthA merit-based scholarship open to all enrolled students at FernUniversität in Hagen, regardless of age or discipline. Initially awarded for one year with the possibility of renewal based on continued academic performance.
PROMOS Scholarship Program
Varies (monthly residence allowance plus travel grant)Funded by the DAAD, PROMOS supports study visits, internships, and language courses abroad. Both German and international degree-seeking students at FernUniversität are eligible to apply for stays of up to six months.
Erasmus+ Mobility Grant
Varies by destination countryProvides financial support for temporary study visits or internships at Erasmus+ partner universities across Europe. Master's students may be eligible for funding from their first year of study.
For detailed tuition fee information, please contact Uni4Edu — we will guide you through the costs and available funding options for this program.
Career Prospects
Combining a STEM background with advanced economics knowledge opens a wide range of career opportunities in management, consulting, and leadership roles. Graduates of this program are uniquely positioned to bridge the gap between technical expertise and business strategy, making them highly sought after in both the private and public sectors.
Potential Career Roles
Typical Employer Sectors
Rankings and Recognition
FernUniversität in Hagen is Germany's largest university by student enrollment and the only state-funded distance learning university in the German-speaking world. It is recognized in multiple international rankings and holds a strong reputation for its Faculty of Business Administration and Economics.
| Subject | Ranking Body | Rank |
|---|---|---|
| Business | EduRank | #65 in Germany |
| Business Administration (GRAS ShanghaiRanking) | ShanghaiRanking | #401 globally |
| Economics (CHE Ranking) | CHE University Ranking | Ranked — contact Uni4Edu for current data |
| Mathematics | EduRank | #68 in Germany |
How to Apply
Applying for this program is easy with Uni4Edu. Our team will guide you through every step of the process — from document preparation to final enrolment.
Contact Uni4Edu
Reach out to our team via email or phone. We will assess your profile and confirm your eligibility for this program.
Prepare Your Documents
Our advisors will provide you with a personalised checklist of required documents and help you prepare your application package.
Submit Your Application
Uni4Edu will submit your application on your behalf and keep you updated on its progress throughout the review period.
Receive Your Offer
Once accepted, we will help you understand your offer, arrange visa support if needed, and guide you through the enrolment process.
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