The two-year MSc programme in Economics and Management gives students an in-depth familiarity with a range of economics and management disciplines. The programme is flexible, so that students can can specialise in a specific field or a combination of economics and management.
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In the company of Nobel Laureates
Students on the programme are based at the Department of Economics and Business Economics. The department is renowned for setting high academic standards, and the department engages in close collaboration with many leading international researchers, including Nobel Laureates Dale T. Mortensen (2. februar 1939 – 9. januar 2014) and Robert F. Engle. The department’s outstanding research environment includes the Center for Research in Econometric Analysis of Time Series (CREATES), where Nobel laureate Robert F. Engle serves as member of the advisory board.
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The academic environment at the department is characterized by international diversity: more than one-third both of faculty members and PhD students have an international background. The international atmosphere provides the basis for an enriched and exciting student life.
A personal academic profile
The department conducts research and teaching in the following fields:
The degree programme allows students to create a personal academic profile within one or across several of these fields. There is compulsory progression in the chosen courses, which ensures students' academic development. Each semester, the department offers about 30 elective courses. The broad range of courses allows you to specialise in a particular field of interest and to compose an individual course programme.
The MSc in Economics and Business Administration - International Economic Consulting – has been developed in close cooperation with major players of the industry and is organised to prepare students for various job functions within the fields of international economics. The programme will provide you with up-to-date theoretical knowledge required for applied economic analyses; relevant quantitative and empirical methods suitable for sectoral studies, policy impact analyses and forecasting; the training and concepts required for the implementation of national and international project consulting and, last but not least, introduce you to an exiting international environment.
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These and many other problems, their increasing complexity, their positioning at the border between economics and management and their placement in international contexts have been the backbone of the steadily growing demand for International Economic Consulting services. Large multinational corporations, regional and national policy makers, international organisations (like the World Bank, the EU and the OECD) and a growing number of non-profit interest groups require sound economic analyses and feasibility studies for an impressive range of issues and industrial sectors.
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This programme has a duration of 2 years and consists on 4 semesters.
1st semester: Prerequisite courses
The course Introductory Methods in Economic Consulting introduces widely applicable quantitative methods with a special focus on their relevance for policy analysis. The main aim of the course is to introduce and apply relatively simple methods and models that can be used for econometric analysis of empirical questions that inevitably arise when project evaluations are performed.
Another course is Advanced Methods in Economic Consulting, which comprises analysis and assessment of the economic consequences also involves estimation of the costs and benefits. Hence, a thorough knowledge of advanced applied econometric methods is necessary to solve many of the complicated economic consulting problems.
The course Advanced Industrial Economics is concerned with the theoretical and empirical understanding of the intensity of competition across industries and its effect on prices, quantities, quality choice, efficiency and market structure. It also studies the need of public intervention by describing the economics of competition policy.
The student will also follow the course Organisational Economics and Strategy, which studies how firms create a competitive advantage and maintain it, and analyses strategic choices regarding the boundaries of the firm, the incentive mechanisms and the organisational structure that will best serve their strategies.
Finally the student will follow the course Cost-Benefit Analysis (CBA) or Project Evaluation as it is sometimes referred to, is an essential tool in economic consulting. The purpose of CBA is to facilitate better decision-making. It ensures that resources are effectively allocated by estimating the monetary values - as far as this is possible - of all the benefits and costs to society of alternative projects, typically public investment projects.
2nd semester: Specialisation courses
The course International Economic Integration gives a broad understanding of the forces and effects of globalisation through technological and policy changes. Based on the theory of international economics we examine integration as driven by organisations like e.g. the World Trade Organization (WTO) and the EU.
Another course that you'll be introduced to is Developing and Emerging Economies. The course will focus on the opportunities and conditions for economic growth in developing and emerging economies and provide you with an understanding of the underlying economic mechanisms.
Alongside you will also follow the course Applied Economic Consulting. This course simulates the entire process surrounding a real-world economic consulting problem, including an introduction to various project management tools.
3rd semester: Electives or study abroad
In the third semester you can choose elective courses within your areas of interest. The courses can either be taken at Aarhus BSS during the semester, at AU Summer University or at one of our more than 300 partner universities abroad. You can also participate in internship programmes either in Denmark or abroad.
4th semester: Master thesis
The fourth semester is devoted to the final thesis. You may choose the topic of the thesis freely and so get a chance to concentrate on and specialise in a specific field of interest. We encourage students to work on topics that are related to international economic consulting and/or are performed in cooperation with a consulting company or a governmental or international institution.
The thesis may be written in collaboration with another student or it may be the result of your individual effort. When the thesis has been submitted, it is defended before the academic advisor as well as an external examiner.
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