MSc in Mathematics-Economics

Have you thought about how rates for a new mortgage loan should be fixed – with an interest-rate ceiling or as interest-only loans? In fact, it was mathematics–economics graduates who developed the model  used for fixing the cost of such loans. All major companies face complex problems, and many turn to a mathematics–economist to solve them.

Mathematics–economists are experts in designing optimisation strategies, something that requires great theoretical insight into both economics and mathematics. As a student of mathematics–economics, you have the option of specialising in a subject within a broad area, including one of the areas in which Aarhus University is particularly strong: mathematical finance, economics, and operations research.

BUILD YOUR OWN STUDY PROGRAMME

The MSc in Mathematics–Economics is taught at the Department of Mathematics and the Department of Economics and Business. Students specialise through course activities and projects and through a thesis. Students structure their own individual study programme in consultation with a lecturer. The programme is designed on the basis of each individual student’s academic qualifications, interests, and subjects studied at BSc level. Read more about the different tracks over the page.

STUDENT LIFE

As a student on the programme, you are based at the Department of Mathematics and at the Department of Economics and Business Economics. You therefore get to benefit from the facilities of both departments. The Department of Mathematics has its own canteen, computer rooms, library, and study areas shared by students. As a master’s student, you will be given your own desk in an office shared with other master’s students. The department also has a number of student organisations such as Euler’s Friends, the Kalkulerbar or Friday bar, and the mathematics– economists association (the MØF) through which academic activities, study trips, and social functions are organised.

The Department of Economics and Business Economics has nearly six hundred study spaces, a large canteen, and state-of-the-art high-tech facilities to meet students’ needs.

CAREERS

Job prospects for Mathematics–Economics graduates are extremely positive, and career opportunities are many. A large proportion of our graduates find work in the private sector. Banks and insurance companies are the major workplaces, with many graduates working as problem-solvers in consultancy and telecommunications companies. Planning departments in large industrial or manufacturing companies are also a relevant job market.

PROGRAMME STRUCTURE

The topics covered in the study programme depend on the track chosen by the student. There are three tracks on the programme: Economics, Mathematical Finance, and Operations Research.

Typical courses in Economics are: 

• Micro 2
• Macro 2
• Advanced Macroeconomics
• Microeconometrics
• Advanced Microeconomic Theory
• Advanced Econometrics

Typical courses in Mathematical Finance are: 

• Pricing and Hedging of Derivatives
• Stochastic Calculus
• Fixed Income Analysis
• Financial Engineering
• Financial Econometrics
• Monte Carlo Simulation

Typical courses in Operations Research are: 

• Graph Theory 1
• Graph Theory 2
• Mixed Integer Optimisation
• Markov Decision Theory
• Simulation, Modelling and Analysis
• Metaheuristics for Combinatorial Optimisation
• Multiple Criteria Optimisation
• Applied Optimisation: Location Planning
• Applied Optimisation: Vehicle Routing

SELECTION CRITERIA

As the Master’s programme admits only a limited number of students each year, meeting the admission requirements does not in itself guarantee admission to the programme. Student places are allocated on the basis of an overall assessment. In evaluating qualified applicants, the admissions committee assesses applicants according to the following criteria: academic background; overall grade level of bachelor’s degree; grades achieved on relevant courses; and relevant courses (measured in credit units) included in the bachelor’s degree.

Relevant courses include core courses within the subject areas of mathematics (linear algebra, mathematical analysis, measure and integration theory), probability theory and statistics, finance, operational research (linear and convex optimisation), and economics (microeconomics, macroeconomics, cost accounting).