Mathematics-Economics, M.Sc.

  • Application Deadline
  • 24 months
  • English (book IELTS)
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. This programme is offered by Aarhus University.


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 of mathematics–economics 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 have the unique advantage of benefiting 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 600 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.

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
  • Operations Research.

Typical courses in Economics are:

  • (Advanced) Microeconomics
  • (Advanced) Macroeconomics
  • Economics of the Labour Market
  • Economics of the Welfare State
  • Econometrics.

Courses in Finance are:

  • Hedging and Pricing of Derivatives
  • Credit Risk
  • Fixed Income Analysis
  • Stochastic Processes
  • Advanced Financial Econometrics

Courses in Operations Research are:

  • Mixed-integer Optimisation
  • Semi-definite Optimisation
  • Multi-criteria Optimisation
  • Metaheuristics for Combinatorial Optimisation
  • Markov Decision Theory
  • Simulation, Modelling and Analysis.
For more information, please check the programme website.

Detailed Programme Facts

  • More details:
    • For February Start only applicants with a legal right of admission can apply
  • Programme intensity Full-time
    • Full-time duration 24 months
  • Credits
    120 ECTS
  • Languages
    • English
  • Delivery mode
    On Campus

English Language Requirements

You only need to take one of these language tests:

  • Minimum required score:


    The IELTS – or the International English Language Test System – tests your English-language abilities (writing, listening, speaking, and reading) on a scale of 1.00–9.00. The minimum IELTS score requirement refers to which Overall Band Score you received, which is your combined average score. Read more about IELTS.

    Book IELTS
  • Minimum required score:


    The TOEFL – or Test OF English as a Foreign Language – offers a paper-based test (PBT). The final, overall PBT score ranges between 310 and 677, and is based on an average taken from the three test components (listening, structure, and reading). The writing part of this test is scored separately on a scale of 0-6. Read more about TOEFL (PBT).

  • Minimum required score:


    The TOEFL – or Test Of English as a Foreign Language – offers an internet-based test (iBT). The final, overall iBT score ranges between 0 and 120, and includes a scaled average from the four components (reading, listening, speaking, and writing). Read more about TOEFL (iBT).

Academic Requirements

The following Bachelor’s degrees qualify students for admission:

  • A Bachelor of Science degree in Mathematics-Economics from Aarhus University, the University of Southern Denmark or the University of Copenhagen.
  • A Bachelor of Science degree in Mathematics from Aarhus University with elective subjects in Mathematics-Economics (e.g. financing, operations research, economics) equalling a total of 50 ECTS credits corresponding to one of the recommended course combinations, which qualifies for the Master's programme in Mathematics-Economics. 
For more information, please check the programme website.

Tuition Fee

  • International Applies to you

    13500 EUR/year
    Tuition Fee
    Based on the original amount of 13500 EUR per year and a duration of 24 months.
We've labeled the tuition fee that applies to you because we think you are from and prefer over other currencies.

Living costs for Århus

  • 6639 - 10060 DKK/month
    Living Costs

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.


StudyPortals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

The Global Study Awards: get funded with up to £10,000 to study abroad

Together with the ISIC Association and British Council IELTS, StudyPortals offers you the chance to receive up to £10000 to expand your horizon and study abroad. We want to ultimately encourage you to study abroad in order to experience and explore new countries, cultures and languages.