MATHEMATICS - ECONOMICS

Introduction

During my MSc studies I worked as a student teacher, which means that teaching now comes naturally to me. I’ve got used to being in front of a group and presenting material in a way they can easily understand. It’s been an enormous help in my present job. I also make great use of the academic skills I gained in my studies, such as an analytical way of thinking, a systematic working method and the ability to solve problems.

ANDERS HØJ SØRENSEN
Graduate, MSc in Mathematics – Economics
Consultant, Trapeze Group Europe


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 when they do. 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.

STRUCTURE OF THE DEGREE PROGRAMME
The MSc in Mathematics–Economics programme is taught at the Department of Mathematics and the Department of Economics and Business. It counts as 120 ECTS credits. Students specialise through course activities and projects and through a thesis. In the first week, students structure their own individual study programme with the help of a lecturer by choosing courses from a course catalogue. The programme is designed on the basis of each individual student’s academic qualifications, interests, and subjects studied at BSc level. The study plan must be approved by the board of studies before the student can register for exams.

STUDY TRIPS AND FESTIVE TRADITIONS
The study environment for mathematics–economics has a reputation for enthusiastic, active student involvement. The social and academic associations at the department keep up a number of festive traditions and organise many events. These include company visits and study trips, alternating annually between trips abroad and trips to Copenhagen.

CAREER PROFILE
Job prospects for mathematics–economists 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 for mathematics–economists, with many being employed as problem-solvers in consultancy and telecommunications companies. Planning departments in large industrial or manufacturing companies also represent a relevant job market. In the public sector, there are jobs in administration and planning at universities and other educational institutions, on supervisory boards and in ministries. The degree programme also qualifies graduates for a career as a researcher.

Admission requirements

The following Bachelor’s degrees qualify students for admission to the Master’s degree programme in Mathematics-Economics:

  • 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. Depending on the courses in the Bachelor programme there can be specific requirements for the course combination in the Master's programme. 

The following other degrees can provide admission to the Master’s degree programme in Mathematics-Economics:

  • A Bachelor’s degree amounting to at least 60 ECTS credits in Mathematics-Economics can qualify the student for admission.

Other qualifications can provide admission to the Master’s degree programme, provided the
university assesses that their level, extent and content correspond to the degrees mentioned
above.

Language Requirements

Since English is the language of instruction in all subjects, all applicants are required to provide evidence of their English language proficiency. 
Please see the page on language requirements.

Documentation Requirements

Please see the general admission requirements.

Programme structure

The Master’s degree programme in mathematics–economics is taught at the Department of Mathematical Sciences and the School of Economics and Management and counts as 120 ECTS credits. You specialise by participating in course activities and projects and by writing a thesis. During your very first week, you structure your own individual study programme with the help of a teacher by choosing courses from a course catalogue. Your programme is based on your academic qualifications and interests and the subjects you studied for your Bachelor’s degree. The plan must be approved by the Board of Studies before you can enrol for examinations.

For more information about the individual courses, go to: kursuskatalog.au.dk/en/

Academic regulations

Forms of teaching

At the University of Aarhus, you are in close contact with researchers in a way that you rarely experience at other universities. The door to the professor’s office is always open if you need clarification of the study material, and you are encouraged to ask questions at lectures and during project work. We make heavy demands on your academic skills and independence. In return, you gain considerable benefits in the form of academic challenges and scientific knowledge, in addition to broad competences.

The teaching at the university focuses on independence, critical thinking and collaboration. Part of the teaching is in the form of lectures that introduce new angles to the material compared with the textbooks and give you a general overview of the subject. You also receive extensive guidance when working with examples and projects.

The varied forms of teaching, collaboration in groups and the opportunity for close scientific dialogue with the researchers provide you with general competences that are in great demand in the global job market. These competences include abstract, critical and independent thinking, analytical skills and strategic planning. You can use these skills in many contexts – even in jobs you didn’t know you were qualified for.

The teaching is divided into two semesters per year. For an example of a course calendar, go to: studerende.au.dk/en/studies/subject-portals/studies/teaching/teaching-calendar/

PhD programme

If you have the necessary skills and interest, you have the option of applying for admission to the PhD programme. You can apply when you have completed your Bachelor’s degree and one year of your Master’s degree or when you have completed your Master’s degree. In the PhD programme, you start working on a research project and are gradually trained through courses and personal guidance to become a researcher.

For more information, go to: phd.au.dk/gradschools/scienceandtechnology/ 

Student life

The study environment for mathematics–economics benefits from an excellent canteen and the many committed and active students. The social and academic associations at the department offer a number of festive traditions and they organise many events. The mathematics–economics students have their own association, as well as Tågekammeret (the Cloud Chamber) and Eulers Venner (Euler’s Friends), which are responsible for most of these activities. The department also organises company visits and study tours. These alternate from year to year between trips abroad and to Copenhagen. A special newsletter called Giffen is published for the students of mathematics–economics.

Campus – a unique place

The University of Aarhus is unique, especially because the buildings are grouped in one campus area close to the Aarhus city centre. The campus has many green areas and a beautiful park surrounding a small lake. Here you also find student accommodation and an underground system of corridors, which means that you don’t have to get your feet wet going from the canteen to your study area. There are also lecture theatres and a host of activities ranging from sports days to the regatta on the lake, interesting lectures, a film club, libraries and university celebrations. The campus ensures that you have easy access to the canteen, student counsellors, teachers, the bookshop, the State and University Library and the Friday bar.

 

Aarhus as a study centre

The university is not all Aarhus has to offer. As the second-largest city in Denmark, Aarhus has numerous different cultural activities. The well-known Aarhus Festival is celebrated for a week at the beginning of September every year and the streets really come to life. During the rest of the year, you can visit different music venues and concert halls in the city or find entertainment at one of the many theatres in Aarhus. The city’s many museums include ARoS – the major international art museum, which is a spectacular place for visual experiences. If you have had enough of cultural activities, you can ride your bike to the beach in no time or go for walks in the Risskov woods or in the beautiful woods around Marselisborg. The forty thousand young students in Aarhus make up 17.5% of the population, which leaves its mark on city life. Aarhus is a young, dynamic city with plenty of opportunities.

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Career

Job functions for grads

This data is derived from AU's 2013/2014 employment survey. This data should not be considered a completely accurate representation of the labour market and job functions for all graduates of the individual degree programmes. It exclusively represent the responses submitted to the survey in the years in question.

Competence profile

With a Master’s degree in mathematics–economics, you have the following competences:

 

  • You have general knowledge of mathematics–economics and detailed knowledge of key disciplines, methodologies, theories and concepts within mathematics–economics.
  • You can independently plan, manage and implement projects and apply the results in scientifically relevant decision processes.
  • You can assess the applicability and appropriateness of theoretical, experimental and practical methodologies for the analysis and solution of scientific questions and issues.
  • You can structure your own competence development independently and critically.
  • You are able to systematically and critically familiarise yourself with new subject areas.
  • You can communicate academic questions and issues to both a scientific and a general audience.
  • You can collaborate constructively to solve subject-related issues.

 

Job profile

A large part of the mathematics–economics graduates work in the private job market. In recent years, many graduates have been employed in consultancy firms or telecommunications companies. The tasks here mainly consist of analysing problems for a company, for example, in order to subsequently develop a model that can be used to solve the specific problem at hand. In that way, you act as both a supervisor and a problem-solver.

Virtually all graduates who specialise in finance get work in the financial sector, such as banks, insurance companies or other financial institutions.

Planning departments in large industrial or manufacturing companies also represent a relevant job market for mathematics–economics graduates. The increased focus on maximising or minimising areas such as cost structures is just one of many examples of a field where you can apply the tools you learn when studying mathematics–economics.

Another are of employment is teaching, typically at a business college. A number of graduates find work in public administration and planning – at universities and other educational institutions, for example, or on supervisory boards and in ministries.

Some mathematics–economics graduates go abroad, where they are employed in private sector companies. In recent years, several graduates from the University of Aarhus have been employed by banks in the UK, for example. Another trend worth mentioning is the increasing number of graduates who are employed in research positions abroad, either in the private business sector or at public research institutions, such as universities in Europe or the USA.

Employment opportunities for mathematics–economics graduates are extremely good – both in Denmark and internationally. You therefore have many career options after completing your degree. For more information about job opportunities, go to: www.nat.au.dk/erhverv/