Economics of Global Risk (EGR) Justus Liebig University Giessen

• Faculty 01 – Law
• Faculty 03 – Social Sciences and Cultural Studies
• Faculty 09 – Agricultural Sciences, Nutritional Sciences and Environmental Management 

The mandatory courses are conducted in English. Elective courses are offered in either English or German. It is possible to complete the entire degree programme in English by choosing from a sufficient number of English-taught elective courses.

Globalised economies are exposed to globalised risks. Financial crises, climate change, wars and geopolitics, or the spread of pandemics threaten globally integrated economies. All of these disruptions are global in nature. Households, firms, and policymakers must address risks that are no longer confined to national borders.

The MSc Economics of Global Risk is taught by research-active professors and provides both theoretical and practical in-depth knowledge of economic concepts related to global risks such as financial crises, climate change, geopolitical instability, and pandemics. Beyond lectures and seminars, you will take part in research projects that address real-world risk scenarios from an early stage. Addressing global risks requires professionals who combine economic expertise with strong quantitative skills and insights from related fields such as international politics, development studies, and international law. This programme prepares students to understand and navigate an increasingly uncertain global economy. Graduates are well-equipped for careers in government, NGOs, multinational corporations, and research institutions.

The core courses are in Economics. Students can choose additional courses from related disciplines such as business studies, political sciences, law, and agricultural studies. The Faculty of Law, the Faculty of Social Sciences and Cultural Studies, the Faculty for Agricultural Studies, and the Center for International Development and Environmental Research (ZEU) at JLU Giessen cooperate with the programme.

Classes begin in October (in 2025: on 13 October). We recommend that you arrive in Germany at least one week prior to the start of classes in order to attend the orientation events organised by both the department and the International Office of the university.

Application for enrolment starts:

• for applicants with a German Bachelor's: 1 June
• for applicants with an international Bachelor's degree: 1 May

Application deadline:

• for applicants with a German Bachelor's: 15 June
• for applicants with an international Bachelor's degree: 15 June

Please also check this website.

Apply via JLU online portal (German Bachelor's degree) or www.uni-assist.de (foreign Bachelor's degree).

The structure of the programme is defined by the study and exam regulation, containing detailed descriptions of the contents and goals of individual modules as well as definitions of the type of and requirements for individual assessments in the modules and the final examination for the programme. These regulations also define the available credits for each module and the required hours for the completion of the programme.

The Master of Science in Economics of Global Risk programme comprises three study blocks, each of which consists of different modules. In addition to the compulsory 120 ECTS, you can take optional extra courses amounting to 18 ECTS.

In the first three semesters, you will take five modules of six ECTS each. In the fourth semester, you will write your thesis (30 ECTS). However, you can be flexible with your programme in terms of the duration of your studies, as you have a total of eight semesters to complete your degree.

The Major consists of 60 ECTS, including seven compulsory modules and three compulsory elective modules.

• In addition to the "Trade Policy and Global Supply Chains", "Risk and Open Economy" and "Advanced Econometrics" compulsory modules, students must complete two research projects and two seminars within the Economics of Global Risk area.
• During the compulsory seminars, students will engage with important contemporary topics that are foundational to the degree programme.
• The two compulsory research projects may involve participating in ongoing research or learning to use software applications.
• Students also have a wide choice of three compulsory elective modules. This allows you to set individual priorities and prepare yourself optimally for your career entry.

The Minor comprises a total of 30 ECTS.

• In the Minor, students can choose modules from the list of compulsory elective modules in the Major and from other areas of business studies and economics.
• The students also have the opportunity to enrol in Master's modules from other disciplines amounting to maximum 12 ECTS. Alternatively, an internship equivalent to six ECTS can be completed, or other modules on cross-sectional topics such as Gender & Diversity or Business English can be taken. Within these 12 ECTS, ungraded achievements can also be included.

The Thesis module comprises 30 ECTS and concludes the Master's programme. The Master’s thesis should demonstrate that the student is capable of independently treating a defined research subject. When registering for the thesis module, the students must have successfully completed modules worth at least 60 ECTS and a seminar module. Please also note the following:

• You will write your thesis at one of the professorships in the area of Economics of Global Risk.
• You have six months to work on your thesis.
• The thesis may also be written as practical work after consultation with the supervising professor.

• An exchange programme between the Department of Economics at Justus Liebig University Giessen and the University of Wisconsin-Milwaukee (UWM) has been in place since 1990. The core of the programme is the annual exchange of students and lecturers from both universities. Milwaukee is located in the US state of Wisconsin and borders Lake Michigan.
• Find out more about the programme here: https://www.uni-giessen.de/de/fbz/fb02/international/studieren-ausland/uwm-vwl.

No tuition fees

402 EUR (winter semester 2025/26, varies slightly with each semester)

The current semester contribution can be found here: https://www.uni-giessen.de/en/org/admin/departments/b/5/studoffice/sc.

Approximately 900 EUR

For admittance to the Master's programme, applicants need to fulfil the following admission requirements:

• Professionally qualifying German or equivalent foreign university Bachelor’s degree in economics or business studies or other Bachelor's degree with a share of at least 40 credit points (ECTS) in economics and 15 credit points (ECTS) in mathematics, statistics, or econometrics.
• Proof of English skills (see below)

The programme is taught entirely in English, therefore, applicants must demonstrate sufficient proficiency in both written and spoken English.

• Proof of English skills:
  • either: German university entrance qualification (demonstrated by school certificates)
  • or: minimum score of 72 in TOEFL IBT (internet-based test)
  • or: minimum overall score of 6 in IELTS
  • or: at least level B2 CEFR
  • or: proof of a Bachelor’s degree in English

Application for enrolment starts:

• for applicants with a German Bachelor's: 1 June
• for applicants with an international Bachelor's degree: 1 May

Application deadline:

• for applicants with a German Bachelor's: 15 June
• for applicants with an international Bachelor's degree: 15 June

Please also check this website.

Apply via JLU online portal (German Bachelor's degree) or www.uni-assist.de (foreign Bachelor's degree).

• Financial Aid for International Students at JLU in the Closing Phase of Their Degree: This is a partial scholarship for three to six months of 300 to 450 EUR per month (funding phase starting April or May every year). A Presidential Commission will decide on the awarding of the scholarships based on academic achievements, indigence, social or intercultural commitment, recommendations from academic staff and compliance with formal requirements. Information: www.uni-giessen.de/en/international-pages/study/grants/closingphase
• DAAD Scholarships for More Equity and Opportunity, for students with a disability, chronic illness, refugee status, parental or other care responsibilities www.uni-giessen.de/en/international-pages/study/grants/equalopportunities

Students may apply for a room in a shared flat or a single room in the halls of residence or search for private accommodation. More information via www.uni-giessen.de/acc

Career Service and special opportunities for international students: www.uni-giessen.de/en/faculties/research-centers/zfbk/career_services/

Our faculty has established a "Welcome Zone" for EGR students. Please visit the website to find out more: https://www.uni-giessen.de/en/faculties/f02/studies/academic-programs/master-egr.

Founded in 1607, Justus Liebig University Giessen (JLU), Germany, is a comprehensive university with a longstanding tradition which attracts around 26,000 students. JLU offers the full range of traditional and modern subjects with top-level teaching and research ‒ extending from classical natural sciences, law and economics, social and educational sciences, linguistics and cultural studies to a unique selection of life science subjects such as human and veterinary medicine, agricultural, environmental and nutritional sciences and food chemistry. The leading personae who carried out research and taught at JLU include a number of Nobel Prize winners, such as Wilhelm Conrad Röntgen (Nobel Prize for Physics in 1901) and Wangari Maathai (Nobel Peace Prize in 2004). Since 2006, research at JLU has received continuous funding from the Excellence Initiative schemes and the Excellence Strategy of the German Federal Republic and Federal States.

With around 94,000 inhabitants, Giessen has one of the highest student densities throughout Germany. Four higher education institutions with altogether 40,000 students provide a unique college-town atmosphere. The city offers plenty of leisure options for students, such as canoeing on the Lahn river, walks and picnics in its multiple green areas, cinemas with student concession tickets, the municipal theatre with a programme consisting of plays, opera and ballet as well as swimming pools and sports facilities, and a variety of pubs, restaurants and night life venues. The great thing about Giessen is that it's an easy place to navigate and, when the mood takes you, to escape into the picturesque surrounding countryside or the metropolis of Frankfurt am Main, which is about 60 kilometres away.