MSc in Wirtschaftswissenschaften

Are you interested in better understanding pressing global challenges such as inequality, climate change, or technological change, and in exploring how these affect society? Do you want to learn how to develop recommendations for firms or create policies to help address these challenges? If so, then this master’s program in Economics could be the perfect fit for you!

This program follows a unique, challenge-driven teaching approach, focusing on societal challenges and teaching economic theory and empirical methods as tools to address these challenges. In this way, you will learn a broad range of theories and methods, ranging from labor economics, growth theory, and industrial organization, to behavioral and experimental economics, applied econometrics, and data science.

Fast facts

• Make well-founded decisions and formulate policy advice
• Develop a career as a policymaker or business manager
• 1-year, full-time master’s, taught in English
• Starts in September
• Weekly: 8 hours classes, 12 hours group work, 20 hours independent study
• Double Degree available
• You’ll get an MSc in Economics

Specialisations

The program allows you to choose one out of our three specializations, based on your preferences. Each specialization focuses on a specific societal challenge and comprises two courses: The first one is a more foundational course, whereas the second one consists of real-life case studies.

After the compulsory foundational courses, you will have to choose one of the following three specializations to gain more detailed knowledge in an area of your interest:

(!) Please note that these specializations will be offered from the academic year 2023-2024 onwards.

Inequality and social inclusion

Rising inequality is one of the key topics we frequently encounter in media and policy debates. Progressing globalization, expanding financial markets and skill-biased technological change are identified as the main drivers of income inequality within and across countries. Rising income inequality is considered a potential threat to the stability of political systems and economic growth due to reduced opportunities and the social exclusion of low-income households. While the public debate usually focuses on income inequality and wealth, many other inequalities arise in societies challenging the policy. For instance, we observe gender inequalities in the labor market, unequal access to education and health systems, and intergenerational and interregional inequality associated with climate change.

This specialization is designed to provide clarity on the topic of inequality by generating a clear understanding of inequality and resulting policy goals. After you have studied this specialization, you will be able to answer the following questions:

• What is inequality and how can it be measured and identified?
• How do we evaluate inequality and what should the goal of distributional policy be?
• What are the causes and consequences of inequality?
• How can we act on inequality?

While we will focus on the economic perspective addressing these questions, we will also incorporate views of other social sciences.

Sustainable and resilient economies

Individual behavior can collectively drive people and systems towards unsustainable and vulnerable states, where common resources are exhausted and collapse, competition erodes redundancies and systemic risks build up. In this specialization, we will identify under what circumstances such dynamics arise, and how public and private risk management could be used to increase resilience and sustainability. Important concepts touched upon in this specialization are asymmetric information, time inconsistency, self-fulfilling prophecies, and contagion. To analyze the causes and consequences of problems of sustainability and resilience, we will focus on three extremely important real-world cases: i) climate change and natural hazards, ii) management of the global commons and iii) financial system fragility.

After you have studied this specialization, you will be able to answer the following questions:

• What dynamics cause the vulnerability and the unsustainability of societies?
• How generalizable are these issues across different applications and fields?
• How can economic theory on the micro/meso/macro level be used to analyze real-life cases of unsustainability and vulnerability?
• How to choose and use the right methodology to analyze a specific case of unsustainability and vulnerability?

Technology, markets, and societal change

New information and communication technologies change existing markets, lead to the generation of new markets, and profoundly affect the actors in these markets. Companies have been able to leverage the availability of big data and new digital technologies to fundamentally change the functioning of existing markets. New technologies have also led to the creation of entirely new markets and labor relations. Many of these impacts of new technologies have the potential to be welfare improving. However, many new technologies pose at the same time grave and unprecedented challenges: Providers of platforms often not only match buyers and sellers but also sell to buyers themselves. Digital ecosystems lock in consumers and foster network externalities on a dramatic scale. In these cases, new technologies give rise to fundamentally new, problematic market dynamics, as evidenced by the dominance of key players such as Amazon or Google.

This specialisation analyses the challenges that arise from new technologies and how this changes society.  After you have studied this specialisation, you will be able to answer the following questions:

• How do new technologies affect existing markets?
• How do new technologies lead to the creation of new markets?
• What are potential competition and antitrust issues?
• What is a responsible (governmental) reaction to new technologies?

Why this program?

The MSc Economics program follows a unique teaching approach. Classical, generic economics education focuses heavily on advanced theory and methods but often treats real-world applications as an afterthought. At Maastricht University, we turn this around. We start by identifying important societal challenges and then teach economic theory and empirical methods to equip you with the knowledge and skills to address them.

Strong community

Our program prioritizes community building, organizing social events and study trips regularly. You will also be invited to participate in different research activities, such as seminars or research workshops.

Career Preparation

With our challenge-driven teaching approach, combined with our small-scale education at Maastricht University, you will develop key skills needed to succeed in your professional life. Working on real-life case studies in an international classroom will allow you to sharpen your critical thinking, develop your professional communication skills and prepare you for an international working environment.

We will also work with you on your labor market profile, together with the experts on our advisory board. You will also get the opportunity to interact with and learn about different career opportunities from our alumni, who join classes regularly as guest lecturers.

Problem-Based Learning

As with most UM programs, the School of Business and Economics uses Problem-Based Learning (PBL). In small tutorial groups of no more than 15 students, you seek solutions to ‘problems’ taken from real-world situations. Instructors only give help as needed, allowing you to develop independence and problem-solving skills useful to your career. This dynamic, collaborative system has one of the highest knowledge retention rates of any teaching method.

The International Classroom

UM offers an international environment where our differences become our strengths. From day one, you’ll be challenged with differing viewpoints and experiences as you interact with staff and students from all over the world. These interactions help foster your understanding and ability to navigate our globalized world. The School of Business and Economics is one of the most international faculties at Maastricht University, with international students (60%) and staff (55%) representing roughly 60 different nationalities.

Take your degree anywhere!

The SBE has the ‘Triple Crown’ of accreditations: from the American AASCB, the British AMBA, and the European-wide EQUIS. This means that your degree is recognized in most places throughout the world: perfect for an international career or postgraduate studies abroad.

Maastricht University (UM) is the most international university in the Netherlands and, with nearly 22,000 students and 4,400 employees, is still growing. The university distinguishes itself with its innovative education model, international character, and multidisciplinary approach to research and education.

Thanks to its high-quality research and education, as well as a strong focus on social engagement, UM has quickly built a solid reputation. Today, it is considered one of the best young universities in the world.

Fast facts

• 50% students & 40% staff from abroad (100+ countries)
• almost 40% of our students study abroad
• curriculum and research focus on international themes
• Certificate for Quality in Internationalisation (CeQuInt)
• 400 international partnerships
• Living lab and expertise center Europe
• UM is the sixth-best Young University in the world

The European University of the Netherlands

Located in the heart of Europe, UM can rightly call itself the European university of the Netherlands. More than half of our student population and almost half of our academic staff come from abroad. Together, they represent more than 100 different nationalities.

We are anchored in the Eu(region)

Maastricht University aims to play a leading role in the sustainable economic development of Limburg. We do this through Kennis-As Limburg, an ambitious strategic program that aims to connect the campuses in Maastricht, Geleen, Venlo, and Parkstad to form a single knowledge center.

We are ‘the young future of Europe’

UM is the coordinator of Young Universities for the Future of Europe (YUFE). This alliance of eight universities is currently developing a model for a ‘truly European university’. Students will be able to follow a study program comprised of courses from the eight partner universities.

We collaborate within WUN and YERUN

UM is the only Dutch university in the Worldwide Universities Network (WUN), which consists of 18 research universities on six continents. As one of the top young universities in the world, UM is also one of the 18 founding members of the Young European Research Universities Network (YERUN).

Innovative education

Small-scale and international

Problem-Based Learning

Since our establishment, we have fully implemented Problem-Based Learning (PBL) in our teaching and we are continuously developing it further. Students are challenged not only to develop professional expertise but also to work on their talents, interests, and skills. PBL helps them become true global citizens.

International orientation

UM can rightly call itself the European university of the Netherlands. This starts with our international students and staff, who represent more than 100 nationalities. But it is also reflected in the content of our programs, most of which are taught in English. We see ourselves as a 'living lab' and a center of expertise for Europe.

Employability

Providing excellent preparation for the labor market—is our commitment. At Maastricht University, students are given the space to develop academically, professionally, and personally. This helps them become active, globally-oriented citizens with 21st-century skills or, in other words, easily employable professionals.

Cutting-edge research

Working on the important issues of today

Transdisciplinary

Research at UM is interdisciplinary and transdisciplinary in nature. It is inspired by contemporary social issues and seeks to contribute to their solutions. To this end, researchers not only cooperate with colleagues from other disciplines and UM faculties, but also with Dutch and international institutions and businesses. Our research is also integrated with education at every level.

Research themes

Maastricht's identity is determined by its history, location, and the people who live and work here. Maastricht University's research reflects this and is centered on four themes: Quality of Life, Learning and Innovation, Europe in a Globalising World, and Sustainability and Circularity. Some of the issues that fall under these themes are healthy aging, climate change, demographic changes, the impact of technological developments, aging populations, healthy and affordable food, and the European integration process.

STEM research and education

For a number of years, Maastricht University has been hard at work on scientific research and education in the STEM* disciplines (science, technology, engineering, and mathematics; known as ‘bèta’ in Dutch). In our Sciences+, the plus refers to the cross-fertilization between the exact, medical, and social sciences, as well as the humanities. That is because it is precisely at these interfaces where the opportunities lie to make a difference for the future, also together with public and private partners.

We know what we stand for

Maastricht University is a young university in the heart of Europe with a clear global perspective. We see ourselves first and foremost as an open and inclusive academic community that strives for a good mix of Dutch, European, and other international students and that addresses both European and global issues in our education and research programs.

Recognition & Rewards

As part of the Dutch and international scientific community, Maastricht University has wholeheartedly joined the national initiative to redefine the recognition and rewards system for academics. In the coming years, we will ensure that academics are valued in a more equitable way for all of their tasks.

Diversity & Inclusivity

Maastricht University is committed to an inclusive culture, to an environment that is open and accessible to everyone. Where academic citizenship is part of who we are and it is recognized and rewarded. Where all students and staff feel at home. And where alumni are truly members of our community, in the Netherlands and around the world.

Sustainability

Maastricht University wants to contribute to a sustainable future for the planet, as described in the Sustainable Development Goals. By 2030, the university wants to be sustainable, We will therefore reduce our ecological footprint in our business operations, focusing on a CO2-neutral future, circularity, and health and well-being.

Why UM?

1. Personal approach to Problem-Based Learning

   Students at UM learn in small tutorial groups, which means you participate actively and acquire essential skills for your future. Tutors typically know you by the first name and are always accessible and approachable.

2. Unique programs

   UM offers a number of study programs that can be found nowhere else in the Netherlands. Examples include the Bachelor in European Public Health, the Master in Forensics, Criminology, and Law, and the Master in Global Health.

3. Most international universities in the Netherlands

   Most of our programs are also on offer in English, and 53% of our students and nearly 40% of our staff come from abroad. This makes UM the most international university in the Netherlands.

4. Research

   Our multidisciplinary research, from growing human tissue to exploring sustainability issues, provides a fertile breeding ground that feeds into our education. Academics are heavily involved in teaching, and interested students have a range of options for getting involved in research themselves.

5. Amongst the best young universities worldwide

   UM is the fifth best young university worldwide, according to the 2018 edition of the Times Higher education ranking for young universities. In other rankings, too, UM consistently achieves good scores: in 2018, UM placed 15th in the QS ranking for universities younger than 50 years.

6. Educational innovation

   We are continually working to improve our educational methodology in the UM Edlab, which also supports tutors and provides excellent programs for students.

7. The heart of Europe

   Maastricht lies at the southernmost tip of the Netherlands, in the very heart of Europe. In just a few hours’ time, you can be in Brussels, Amsterdam, Paris, or London, and several airports are within an hour’s drive. To Life@UM

8. The city of Maastricht

   From cinemas, theatres, and hundreds of cafes, bars, and restaurants to a brand new sports center and state-of-the-art study facilities under construction at the Tapijn site – Maastricht is a living city with a historic center. And every academic year kicks off with an unforgettable Inkom week.

9. Honours programs

   For students who like an extra challenge, we offer a suite of honors programs: Premium, MaRBle, and Honours+.

10. Finding a job

    Research by the UM Research Centre for Education and the Labour Market (ROA) shows that some 93% of graduates are working in a paid job within a few years of graduating (Maastricht University graduate surveys 2021).