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Mathematics - Economics

Master (2 years) of Mathematics - Economics, 120 ECTS
Economics, commerce, management and accounting Mathematics, natural- and computer science

Institution Aarhus University (AU)
Campus Aarhus
Duration 2 years
Tuition per term (Non-EU/EAA/CH) 15300 EUR
Tuition per term (EU/EAA/CH) 0 EUR
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.


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.


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.


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.


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
  • Advanced Convex Optimisation
  • Markov Decision Theory
  • Simulation, Modelling and Analysis
  • Metaheuristics for Combinatorial Optimisation
  • Multiple Criteria Optimisation
  • Applied Optimisation: Location Planning
  • Applied Optimisation: Vehicle Routing

A bachelor’s degree amounting to at least 60 ECTS credits in Mathematics–Economics can qualify the student for admission. Other qualifications can also provide admission to the Master’s programme, provided the university assesses that their level, extent, and content correspond to the degrees mentioned above. A precise description of the admission requirements can be found on the study programme web page:


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).


In general, admission to a master’s degree programme requires successful completion of a relevant and recognised university degree equivalent to a Danish bachelor’s degree in level and length (180 ECTS). In addition, you must meet the specific requirements for the individual programme, including language requirements. If you wish to study a master’s degree at Aarhus University, please check out our page ‘Am I qualified for admission’:

If you are curious about how to submit a master’s degree application to Aarhus University, then make sure to check out our ‘Apply Now’ page. Here you can find information about relevant fees, guides, and video tutorials on how to use the application portal:  

There are the same English language requirements for all international students with a few exceptions. The general English language requirements for master’s degrees can be found here:

Aarhus University offers a limited number of Danish state scholarships for highly qualified non-EU students applying for master’s degrees. You can read more about scholarships here:

Students from outside the EU are generally required to pay tuition and application fee. You can consult our page Tuition fees for master’s degree programmes:

Would you like to chat with a fellow student from your country, or with someone who studies the programme you are interested in? You can get help with your questions from Aarhus University’s Student Ambassadors:  


Application date
Jan 15
Start date
Sep 01


Application date
Mar 01
Start date
Sep 01


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