Master of Science in Economics and Institutions

The Master of Science in Economics and Institutions is offered by the Faculty of Business Administration and Economics. The duration of the degree program is 2 years or 4 semesters. It is accredited. The awarded degree is ‘Master of Science’.

The course offers rigorous training in all major fields of economic theory and policy. Its focus on the economic analysis of institutions is unique. The economic analysis of institutions comprises the study of formal and informal rules that are backed by sanctions. Institutions are important in all areas of economic interactions in practice and too often they are not given adequate consideration by researchers who believe in frictionless markets. Institutions play a role in almost all social processes in the real world, e.g. the existence of principal-agent relationships in many organisations such as firms or governments, the design of specific institutions in economic policy such as Competition Laws or Central Bank Laws, or the voluntary provision of public goods as in co-operatives or by micro-credits in developing countries. Students gain insights into these issues and are exposed to solution concepts that are suitable for many economic problems found in practice.

Economic research and training is highly internationalised in Marburg, as all academic staff members have established strong, sustainable partnership programmes and joint research projects with universities in Europe, the USA, and other parts of the world. The focus of the faculty on institutional economics is underlined by MACIE, the Marburg Centre for Institutional Economics, which recently celebrated its 50^th anniversary. The Economics staff emphasises the importance of a friendly and open teaching environment. Students are welcome to approach professors and engage in debates on relevant economic issues.