Master in Economics and Business Administration - Finance

Master in Economics and Business Administration - Finance is one of 23 English-taught Business Administration programmes at Master's Degree level in the register, offered by 6 institutions. 21 of them list an annual fee for students from outside the EU, EEA and Switzerland, from EUR 3,582 to EUR 15,000; this programme lists EUR 5,000 a year. 15 are recorded as free for EU, EEA and Swiss students.

What you study

This is a research-based master's in finance at Aarhus BSS, the business and social sciences faculty at Aarhus University. The teaching is in English and the degree runs over two years. The programme builds quantitative and analytical skills aimed at the financial industry.

You work with theoretical and empirical models of financial decision-making, asset and derivative pricing, financial institutions and intermediaries, and corporate finance. Three threads run through the courses:

• Financial theory and asset pricing. You learn standard financial theory and apply models to stocks, bonds, derivatives and real assets such as investment projects inside a firm. You work out fair prices with asset pricing models, identify the risk premia investors demand for bearing risk and discuss where those premia come from, and see how investors and institutions trade off risk and return when they build portfolios.
• Financial institutions. You look at the players in financial markets and their role in setting prices and allocating capital. Asset managers and intermediaries provide liquidity, facilitate transactions and risk-sharing, and help move capital between institutions, firms and households. You study asset management inside financial institutions and discuss what these intermediaries mean for the system.
• Analytical and quantitative skills. You train in econometric methods for empirical work and implement models on real-world financial data. Data shows up in exercises, exams and written projects, and programming languages are integrated into courses and exams where relevant.

Admission, language and next steps

To get in you need a relevant, recognised university degree at bachelor's level, equivalent to a Danish bachelor's in level and length (180 ECTS). You also have to meet the specific requirements for this programme, including the English language requirements that apply to international students. The programme is taught in English.

Apply directly to Aarhus University through its application portal, not through optagelse.dk, which is for undergraduate applications. The university's Apply Now page covers the portal, fees and guides, and the Am I qualified for admission page sets out the entry rules.

Students from the EU/EEA and Switzerland study free of charge. Other students pay a tuition fee set by the university, and applicants from outside the EU generally also pay an application fee. Aarhus University offers a limited number of Danish state scholarships for highly qualified non-EU applicants.

Aarhus BSS holds AACSB, AMBA and EQUIS accreditation. Students can spend a semester abroad at one of the school's roughly three hundred partner universities, and student associations run lectures, company events, career days and social activities.

Master’s applications go straight to Aarhus University, not through optagelse.dk, and the institution sets its own deadline. Entry requirements and language tests are set by the institution, so start from the official programme page. Our guides cover tuition fees, residence permits and housing.