Master of Business Administration and Economics – Risk Management
FernUniversität campus, Germany
Master of Science in Business Administration and Economics – Risk Management
FernUniversität in Hagen (University of Hagen)
Business Administration, Economics & Risk Management
Program Overview: M.Sc. Business Administration and Economics – Risk Management
The Master of Science in Business Administration and Economics with a specialization in Risk Management at FernUniversität in Hagen equips you with a comprehensive understanding of how to identify, analyze, and evaluate risks facing companies, financial institutions, and public bodies. Building on your previous economics degree, this program develops your ability to create and implement effective measures for handling risk events across diverse organizational contexts.
The program is structured into a compulsory part covering core topics such as finance and risk management in supply chains, alongside a compulsory elective part where you can tailor your studies to your career goals. You can choose from a wide range of subject-specific modules as well as general business administration, economics, quantitative, and legal modules to create a personalized learning path.
As Germany's only state-run distance learning university, FernUniversität in Hagen offers maximum flexibility, allowing you to adapt your studies to fit your professional and personal life. The program uses a modern blended learning approach combining digital study materials, online collaboration, and occasional on-campus sessions, making it ideal for working professionals seeking to advance their expertise in risk management.
Key Program Highlights
- Flexible distance learning format designed for working professionals, with part-time study options available
- Specialization in risk management covering supply chain risks, financial crises, and corporate risk strategy
- State-recognized M.Sc. degree from Germany's largest public university with over 70,000 enrolled students
- Extensive elective module selection allowing you to customize your studies across business, economics, quantitative, and legal fields
Curriculum & Modules
The curriculum combines compulsory core modules in risk management and quantitative methods with a flexible selection of elective modules. This structure ensures you gain essential risk management competencies while tailoring your studies to your individual career aspirations and professional interests.
Risk Management Fundamentals
10 ECTSComprehensive introduction to the principles and frameworks of risk management, covering risk identification, assessment, evaluation, and mitigation strategies in corporate and institutional settings.
Finance and Financial Risk Management
10 ECTSIn-depth study of financial markets, instruments, and the analysis and management of financial risks including market risk, credit risk, and liquidity risk.
Risk Management in Supply Chains
10 ECTSExamination of risks arising from supply chain disruptions, delays, and failures, with strategies for building resilient and adaptive supply chain networks.
Business Mathematics and Statistics
10 ECTSAdvanced quantitative methods and statistical techniques essential for modeling, measuring, and analyzing risk in economic and business contexts.
Accounting and Controlling
10 ECTSStudy of financial reporting, management accounting, and controlling processes that underpin sound risk-informed decision-making in organizations.
Master's Thesis
30 ECTSAn independent research project in which you apply the knowledge and methods acquired throughout the program to investigate a risk management topic of your choice in depth.
Elective Modules
Admission Requirements
Admission to the M.Sc. Business Administration and Economics – Risk Management program requires a completed undergraduate degree with relevant subject-specific knowledge in economics or business administration. Uni4Edu can guide you through the entire application process and help you verify whether your qualifications meet the program requirements.
Academic Requirements
- Undergraduate DegreeCompleted bachelor's degree (or equivalent) with a standard duration of at least six semesters from a recognized university
- Subject-Specific KnowledgeDemonstrated knowledge in economics or business administration, typically evidenced by your undergraduate degree and transcript
- Minimum ECTSAt least 180 ECTS credits from the qualifying undergraduate degree
- International QualificationsForeign degrees are assessed for equivalency to German university standards; contact Uni4Edu for guidance on credential evaluation
- Catch-Up OptionMissing subject-specific knowledge may be completed via Open Access Studies before starting the master's program, subject to faculty approval
Language Requirements
- Language of InstructionGerman – this program is offered and assessed exclusively in German
- German ProficiencyInternational applicants typically need DSH-2 or TestDaF 4x4 or equivalent proof of German language proficiency
- English ProficiencyNot required as the program is conducted entirely in German
Required Documents
Application Deadlines
For personalized admission guidance, document verification, and application support, please contact Uni4Edu
Scholarships & Funding
FernUniversität in Hagen is a state-funded public university with very low semester fees, making it one of the most affordable options for a master's degree in Germany. Additional scholarship opportunities are available through German funding organizations to further support your studies.
Deutschlandstipendium (Germany Scholarship)
EUR 300 per monthA merit-based national scholarship program funded jointly by the federal government and private sponsors, available to high-achieving students at German universities regardless of nationality.
DAAD Scholarships for International Students
Varies by programThe German Academic Exchange Service (DAAD) offers a range of scholarships for international students pursuing master's degrees in Germany, covering living expenses and study costs. Contact Uni4Edu for eligibility details.
Political Foundation Scholarships (Studienstiftung, Friedrich Ebert, Konrad Adenauer, etc.)
Up to EUR 1,350 per monthGermany's major political and academic foundations offer generous scholarships to talented students based on academic merit, social engagement, and personal potential. Uni4Edu can advise you on the best fit for your profile.
For detailed tuition fee information, please contact Uni4Edu — we will guide you through the costs and available funding options for this program.
Career Prospects
Graduates of the M.Sc. Business Administration and Economics – Risk Management are well prepared for demanding roles in companies, consulting firms, financial institutions, and the public sector. The specialization in risk management opens doors to a wide range of responsibilities, from corporate risk strategy to regulatory compliance and beyond.
Typical Career Roles
Potential Employers
Rankings & Recognition
FernUniversität in Hagen holds a unique position as Germany's only state-run distance learning university. Due to its specialized distance-learning model, it is often excluded from conventional university rankings. However, its Faculty of Business Administration and Economics has been recognized for strong research intensity and quality in independent evaluations.
| Subject | Ranking Body | Rank |
|---|---|---|
| Business Administration | CHE Ranking | Top Group for Research Intensity |
| Economic Sciences | CHE Ranking | Ranked (Last Update 2023) |
| Business Informatics | CHE Ranking | Ranked (Last Update 2023) |
| Distance Learning Excellence | EADTU Member | Leading European Distance University |
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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