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MSc in Financial Economics

Radboud University Masters Programmes

Full time September MSc Full-time: 1 year

About the course

Understanding modern financial economics, which includes asset pricing, risk management, monetary policy and financial regulations for pursuing careers at, for example, banks, capital funds and finance ministries.

The spectacular growth of international capital markets is creating great opportunities. But, as the latest financial crisis has shown, this also entails major challenges for financial decision-makers and regulators of financial markets. The academic Master’s specialisation in Financial Economics is ideal for students who want to understand the workings of global financial markets, from asset pricing and risk management to monetary policy and financial regulation. It provides you with the necessary knowledge and skills set for careers in not just banks, investment funds, and

Read more about this course

Entry Requirements

1.A Bachelor's degree in Economics – or a closely-related discipline – from a research-oriented university, with sufficient background in Research Methods and Mathematics
2.A proficiency in English (Non-native speakers of English* without a Dutch Bachelor's degree or VWO diploma need one of the following):
a.A TOEFL score of ≥90, with subscores not lower than 18
b.A IELTS score of ≥6.5, with subscores not lower than 6.0
c.Cambridge Certificate of Advanced English (CAE) or Certificate of Proficiency in English (CPE) with a mark of C or higher
3.A letter of motivation


€2,143 (from EEA countries); €11,471 (from non-EEA countries).

Course Content

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Student Profile(s)

Ivailo Rumenov Sulichky

My very first choice to study was the Netherlands. Afterwards, it was only a matter of time until I found my way and was able to continue my higher education in Nijmegen. Radboud University provides a great opportunity to obtain a degree in a high-ranking, international university, which is located in the heart of Western Europe. On top of that, the Master’s programme in Economics is the best in its field in the Netherlands, having won several awards during the past few years. All of this enabled me to develop academically in the best educational environment possible and to acquire professional career possibilities in the future.

The programme itself is quite challenging. Radboud University is one of 13 research universities in the Netherlands which means that the programmes in the NSM are mainly focused on theoretical and empirical research. My track is International Economics and Business, which is characterized by its diversified study in Economics. All of the Master’s degree programmes at the university have educational curriculums which are very intensive. The professors and tutors are highly-skilled, as they possess both professional and academic experience, but at the same time they are very approachable. They always find time to answer students’ questions, and if necessary they will offer to schedule an appointment with you if you need additional information.

Student life abroad is rather different than at home, but this contributes to the intensity of the international education experience. Although it has its ‘ups and downs’, I can definitely say that I have not regretted that I chose Radboud University for a single minute. The university played a significant role during the timethat I was preparing for my arrival, and during the first few weeks in the Netherlands. They provided me with a great deal of the information necessary to assure that my arrival would be unproblematic.

To all those who are hesitating whether or not to choose this institution as their next step towards higher education, I can only encourage you to contact someone at the university, or even better, to visit the campus and to see for yourselves what Radboud University is all about. Here are a few words to help you get by while you are in the Netherlands: feel free to communicate with everyone here, do not be reluctant to ask questions and keep an open mind towards the possibilities that come your way.

Stan Leistra

"The financial world already drew my attention during my studies of Economic geography. I therefore chose an elective in finance, which I liked so much that I decided to enroll in a tailor-made pre-Master's programme for the Financial Economics track of the Master's programme in Economics. Some of the courses in this premaster programme are more general, other courses are track-specific. Fortunately I liked the financial courses most, reaffirming my choice for financial economics. In addition, I liked the small-scale set-up of studying Economics in Nijmegen, making it quite personal. Small-scale teaching also has its drawbacks of course. You can't really hide for the lecturer's questions, which is especially inconvenient if you had quite some drinks with your friends in one of the many local pubs the night before! Seriously, small-scale teaching also implies that you feel ‘at home' right away. Students and lecturers are really committed to the programme and its quality. This is also one of the programme's major strengths: combining an open atmosphere and personal touch, Economics in Nijmegen is accessible, personal and providing high-quality teaching at the same time."

Suzanne Boelens

"I liked it so much, I switched to Accounting and Finance"
Suzanne Boelens from the Netherlands specialised in Accounting and Finance:
"I chose Business Administration in Nijmegen for its social angle. But after one year of studying I realised I missed the more numerical, economic side. Business Administration definitely offers many interesting theories, but hard core economic analyses are pretty scarce. That's why I decided to do some electives in Economics, which I liked so much that I switched to the Economics Master's track in Accounting & Finance. This track also pays attention to the management structure of organisations, a feature I like. It offers insight into people's motivation for the choices they make within organisations, using this to analyse how to ensure that the right choices are being made.

After completing my studies in Nijmegen I will be working for one of the main accountancy firms in the Netherlands. At the same time I will also follow a programme to become a chartered accountant (RA in Dutch). That's something I would never have thought of four years ago, but to which I'm really looking forward right now!"

Lisanne Uit de Weerd

"Accounting and Control was the perfect combination"
Lisanne Uit de Weerd is a graduate of the Master's programme in Economics, specialising in Accounting and Control. She now works for Deloitte Rotterdam:

"In 2013, I graduated with a Master’s degree in the field of Accounting & Control. At Radboud University, this study involves more than just accounting: Social aspects, ethics and corporate finance are all incorporated in the specialisation. Moreover, you have the opportunity to combine your studies with law and to prepare yourself for a Post-graduate study in Accountancy.

The courses are given in small groups, which leads to interaction taking place among the students and with lecturers. This high level of interaction is increased even more by the large number of presentations and cases which are presented by the students during the tutorials. These tutorials, and more specifically the discussions, trigger the students to be pro-active, skeptical and innovative. This method forces students to mix the theory they have learned with practice.

For me Accounting & Control was the perfect combination as I was able to finalize my Master’s degree in Accounting & Control and European Business Law simultaneously. My presentation and discussion skills, which I developed during my Master’s study, proved to be of great value in my professional career. I currently work at the Core Audit department of Deloitte Rotterdam in combination with my Post-Master’s study - International Executive Master of Auditing."

Julia Draaisma

"I would definitely recommend this Master's programme"
Julia Draaisma is a Master's student in Economics, specialising in International Economics and Business:

"The Master’s specialization in International Economics and Business offers courses on international trade, the behaviour of firms, financial systems and much more. It offers a broad perspective on a wide variety of economic problems and teaches one to solve them professionally.

The reason I chose this Master’s programme is the way it combines the research fields of economics and business, and factors in political science and sociology. As a result, I decided to write my Master’s thesis about the exchange rate and bounded rationality. In my thesis I search for empirical evidence that models based on bounded rational agents can accurately mimic the characteristics of the exchange rate. This is also based on a combination of international economics and sociology. I also think that the Master’s programme in International Economics & Business prepares you well for the future.

The focus of this programme is on a variety of economic issues and learning to deal with them. You are therefore eligible for many different professions. If you are interested in a broad perspective on economic issues, I would definitely recommend this Master’s programme."

Bernice Razenberg

"Better learning methods and a better atmosphere"
Bernice Razenberg specialised in Financial Economics:

"The financial economics programme offers students an in-depth understanding of influential entities, such as central banks and venture capital funds, in financial markets. The Master’s programme provides extensive knowledge of real-world scenarios, as well as of recent developments in the scientific discipline of finance.

To arrive at my choice for this particular university, several factors played a determining role. First, studying economics in Nijmegen is associated with small class-room sizes. This small-scale setup provides students with better learning methods and a better atmosphere. Additionally, with its Economics Plus programme, Radboud University distinguishes itself from others, since the economics study at Nijmegen not only teaches you the traditional approaches to finance, but also provides you with insights from other disciplines, such as mathematics, psychology and sociology. The courses equipped me with the right knowledge and abilities to start my career in investment management.

Nijmegen offers a broad variety of student associations and its large university sports centre enables you to practice almost any sport you can imagine. Practical matters, as well as social events are the point of focus during the RU orientation week, ensuring you are well prepared for student life. I quickly got to know both Nijmegen and Radboud University.

Studying at Radboud University Nijmegen has added value to my career and my personal life. I remember the four years spent here very fondly and if you are interested in the field of economics, I would certainly recommend Radboud University Nijmegen and its Master’s programme in Economics."

Nikie Knoben

"Your study is not only focused on one specific part of economics"
Nikie Knoben from the Netherlands specialised in International Economics and Business:

"I received my Bachelor’s degree in International Economics at Radboud University. I almost automatically decided to start my Master’s programme in International Economics and Business at the Radboud University as well. I specifically chose this programme because of its setup. Not only are you educated in international economics, but you also follow courses in corporate finance and international financial markets, to name just a couple. Therefore, your study is not only focused on one specific part of economics, which helps provide a broad education as an international economist. This helps to ideally prepare you for future jobs.

I certainly do not regret my choice of Master’s programme since I am interested in a lot of things within economics along with the international field. Empirical research is combined with theoretical frameworks and related to current issues, which makes this study really interesting and up-to-date."

Pascal van de Loo

"You are rewarded and inspired to be innovative and creative"
Pascal van der Loo from the Netherlands specialised in Financial Economics:

I took the Master’s programme in Financial Economics and it was definitely the right choice for me. Having already completed my Bachelor’s study at Radboud University, I knew what to expect for the Master’s programme: a challenging environment where you are required to push yourself to find solutions. Although the study is theoretical, it is not only about replicating ideas. On the contrary! You are rewarded and inspired to be innovative and creative. Simply said; anybody can replicate an idea for an essay, but by trying to do it in a different way or showing the capability to create ideas in whole new areas, that is when you will actually learn something.

Additionally, due to the small-scale setting of the lectures, you cannot just blend in but rather are forced to be pro-active and visible. This training helps me every day in my working life. I currently work at the Financial Risk Management department of Deloitte. We advise clients on challenging risk management topics and they require us to show them the next steps. We do not get paid for simply doing work they are able to do as well. They wouldn’t need us otherwise. We need to be innovative and creative and show them new ideas they hadn’t thought of. That’s something that I learned during my Master’s programme. Combined with an excellent environment to participate in extracurricular activities, I would definitely recommend this Master’s programme at Radboud University!

Jiaying Li

"This programme places an emphasis on students learning to think independently"
Jiaying Li from China enrolled in the pre-Master's programme in Economics:

"Before studying in Nijmegen, I had completed my Bachelor’s degree in Accounting & Finance in Dublin, Ireland. Since I had such a wonderful experience doing so, I decided to continue studying and go for a Master’s degree. I chose Radboud University from among my choices as I felt it offers many unique opportunities and experiences to Master’s students. I believe doing my Master’s degree at Radboud University will help me toward my goal of becoming a qualified accountant and financial expert. The outstanding international reputation, the educational quality and the research opportunities are the main reasons I chose this Master’s programme. In addition, this program places an emphasis on students learning to think independently; providing freedom for students to form their own opinions and inspiring creativity in the application of knowledge. Furthermore, the city is ideally located. Because of its central position, it is ideally placed for travel and exploration around the Netherlands and in Europe, which, as a Chinese citizen I hope to take great advantage of by sightseeing during my time here.

I am currently in the pre-Master’s programme for the track Accounting and Control. As an international student from China, this program is quite challenging and hard work is required. However, the courses are very helpful in building the foundation for enrolling in the Master’s degree programme. In the pre-Master’s programme, I receive training in researching independently and forming my own opinions which is very important for my self-development. I also have the opportunity to experience the Dutch education system during the pre-Master’s programme, especially since here students can discuss anything with the teachers including exam results. This is quite different from the Chinese education system I was used to.

I am glad that I chose to study at Radboud. When I applied for the full Master’s programme at the beginning of last year, I was disappointed to hear that I had been rejected. During this year, however, I am beginning to understand how valuable a pre-Master’s course is.

The focus on independent thinking and research sets Radboud University apart from others. Though it may be hard to begin with, studying here is well worth it."

Marleen Nicolai

"The beauty of doing Economics in Nijmegen"
Marleen Nicolai is 21 years old and in the final stages of the International Economics specialisation of the Master's programme in Economics.

"Before enrolling into the Master's programme, I did a Bachelor's programme in Business Administration, taking some Economics electives on the side. I liked that so much that I decided to complete the full pre-Master's programme for Economics, allowing me to enroll in the International Economics track of the Economics Master's programme. And I am still glad I made that choice! The courses are very interesting and lecturers never hesitate to give feedback on specific problems you might have with the study material. Moreover, the small scale of the programme made me feel at home pretty soon, allowing me to make many new friends. After finishing my Master's of Economics I hope to do a traineeship with a leading business enterprise or to start in one of the Dutch ministries. That's the beauty of doing Economics in Nijmegen: it gives you so many options that it allows you to choose whatever you like best!"

Merel Jansen

'This Master’s goes off the beaten track’
“I first did a Bachelor’s and Master’s in Political Science, but I wanted to further expand my knowledge and this Master’s specialisation very much appealed to me. Therefore, I decided to take a bridging programme (pre-Master’s) so that I could participate in this Master’s programme.What attracted me was the combination between the more hard-core Economic subjects and the less typical and perhaps even ‘softer’ subjects such as psychology, ethics and cultural studies. This combination gives a broader perspective on international business. This Master’s definitely goes off the beaten track.

My Master's thesis
“For my Master’s thesis I did a research that isn’t typically Economics. I looked at the codes of conduct of the top 200 global companies. I wanted to find out if the national culture of the country of origin of a firm, or the business sector in which the company is active, has influence on the content of a company’s code of conduct. And – if successfully implemented – codes of conduct, in their turn, influence company culture. I discovered that the national culture does influence the code, which implies that company culture is partly defined by the national culture in the country of origin of the firm and less on the business sector in which the company is active. This insight gives a better understanding in the way of thinking within companies and regarding the various actors and parties companies feel responsible for.

International atmosphere
“Although this Master’s is challenging for many students, I think they could have upped the pace for those interested to learn even more. I think that during this Master’s programme it’s very well possible to develop additional activities such as extra courses or an internship, which means you can adapt the study to your own preferences.

“I also liked the international atmosphere. About a quarter of my fellow students were from outside of the Netherlands, like Eastern-Europe and Southern-America, which was great. They sometimes had a totally different view on the subjects discussed and shared it with the group, giving us a new perspective on issues. Also, personally it was an enrichment.


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