Master in Applied Economics and Finance (MSc)

Master in Applied Economics and Finance (MSc) is one of 4 English-taught Finance programmes at Master's Degree level in the register, offered by 1 institution. 4 of them list an annual fee for students from outside the EU, EEA and Switzerland; this programme lists EUR 8,000 a year.

MSc in Applied Economics and Finance is a two-year master's at Copenhagen Business School in Frederiksberg. It is taught in English and carries 120 ECTS. The programme takes its last intake in 2026, as CBS reorganises its master's portfolio ahead of the 2027 reform.

What you study

The programme mixes economics and finance, with about 45% economics and mathematics and 55% finance. You learn to use economic models, statistics and econometrics to analyse market trends, risk and performance. On the finance side, you work with corporate finance, portfolio management and risk analysis, connecting theory to practical applications.

Courses named on the programme page include Corporate Finance and Derivatives, Inter-firm Relations: Industrial Organization, Capital Market Theory and Applied Econometrics in the first semester. In the second semester you take Corporate Governance and Entrepreneurship, Big Data Analytics for Economic and Financial Decision-Making, Firms in a Global Macroeconomic Environment and a Business Project. The fourth semester is the master's thesis (Kandidatafhandling, 30 ECTS).

You also explore the economic environment of firms, incentive problems between stakeholders and management, financial analysis and investment decisions. Through econometrics you learn to manage data, test hypotheses and assess results, for example when evaluating a market entry or a restructuring.

How the programme is organised

The first year is structured around the courses listed above, with written exams on campus and some group exams. The third semester is open: you can take electives at CBS or other Danish universities, build a minor of typically three courses, go on exchange at one of CBS's more than 300 partner universities, or apply for the CEMS Master in International Management double degree. CEMS is a one-year programme taken alongside your CBS degree in the third and fourth semesters, with part of it at a CEMS university abroad.

Teaching mixes lectures with applied work. The programme aims to balance theory and application: you learn the models first, then apply them to practical examples. The first semester is described as tough, with many lectures and difficult subjects, and students often help each other through it.

Who it suits

Most students enter with a bachelor's in economics or business administration, typically from CBS. If your background is different, you should be up to speed on statistics and mathematics, particularly basic rules of optimisation, and familiar with basic microeconomics, macroeconomics and corporate finance. These skills are used from the start.

The programme enrols around 120 students each year, making it one of CBS's largest. About half come from outside Denmark, mostly from Nordic or European countries. Students are described as ambitious and active, and many hold student jobs, usually up to 15 hours a week.

Admission, language and next steps

Everything is taught in English. If your bachelor's was not taught in English, CBS recommends reading its guidance on English-taught master's programmes before applying. Applications for master's programmes go directly to CBS. Check the entry requirements and programme regulations on the CBS page for the exact documents and deadlines.

Because the last intake is in 2026, if you are considering this programme you should check the CBS page for how the reorganisation affects your options. CBS is moving towards more one-year full-time and part-time master's programmes from 2027.

Master’s applications go straight to Copenhagen Business School, 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.