Teaching at PhD-level
The two-year International Master of Science in Quantitative Economics (IMSQE) MSc programme is an elite fulltime MSc programme at the Department of Economics and Business, Aarhus BSS. Students tailor their own study programme on the basis of a range of advance-level courses with a quantitative orientation and selected PhD-level courses. The programme requires strong analytical skills in quantitative methods and there are special requirements regarding the level an qualitative contents of written assignments.
The IMSQE programme provides its students with a number of outstanding qualifications. They will acquire analytical skills at a very high level, and they will thus be able to apply the methods that they have learned to new cases, to formulate new theories, to formulate and test hypotheses, and to reflect upon the validity and relevance of various scientific methods and substantive theories within the field. This implies that the students will be able to go well beyond reproduction of known material, and working independently on new topics within the area will be a core competence of the elite students.
The purpose of the IMSQE programme is to provide candidates with advanced-level training within the analytical, quantitative disciplines of macroeconomics, microeconomics, economics, econometrics, finance and accounting. The IMSQE programme aims at recruiting candidates within quantitative economics and management internationally in competition with leading institutions such as London School of Economics, Oxford University and Cambridge University.
Candidates completing the IMSQE programme will acquire analytical skills at a very high level which are in increasing demand. Potential future employers of the candidates are Danish as well as international organisations, consulting firms, ministries and government agencies, and financial institutions such as commercial banks, mortgage institutions, pension funds, insurance companies and investment banks. Furthermore, the IMSQE programme provides an excellent opportunity for candidates to continue their studies at PhD level. For students who wish to continue in the PhD programme, a special transitional arrangement will be provided to bridge the transition from the IMSQE programme to research training.
Find further information about the IMSQE programme here.
Access to the Master’s degree programme in Quantitative Economics at Aarhus University requires the successful completion of one of the following bachelor’s degree programmes:
- Bachelor’s degree in economics and management from Aarhus University (bsc.oecon.)
- Bachelor’s degree in economics and management from the University of Copenhagen (bsc.oecon.)
- Bachelor’s degree in economics and management from the University of Southern Denmark (bsc.oecon.)
- Bachelor’s degree in economics from Aalborg University (BSc in economics)
- Bachelor’s degree in mathematics-economics from Aarhus University (BSc in mathematics-economics)
- Bachelor’s degree in mathematics-economics from the University of Copenhagen (BSc in mathematics-economics)
- Bachelor’s degree in mathematics-economics from the University of Southern Denmark (bsc.scient.oecon.)
- Bachelor’s degree in mathematics-economics from Aalborg University (BSc in mathematics-economics)
Apart from a successfully completed, relevant Bachelor’s degree a grade point average of 8.5 (according to the Danish 12 point grading scale) or above is required to qualify for admission to the IMSQE programme. When calculating the grade point average, the admissions committee assesses each applicant on the basis of the average mark of the Bachelor’s degree at the time of application. Marks/grades obtained after the application deadline will not be included in the GPA.
Applicants without the educational background described above, who have completed a Bachelor’s degree in Economics at other universities, may have their study activities evaluated to determine if admission is possible. However, please notice that these applicants must, as a minimum, have a grade point average of 8.5 (according to the Danish 12 point grading scale) or above and have the following areas covered in their Bachelor’s degree programme in order to be considered for admission to the programme:
- Microeconomy (20 ECTS)
- Macroeconomy (20 ECTS)
- Statistics and Econometrics (20 ECTS)
- Finance and Investment (20 ECTS)
- Mathematics (15 ECTS)
As only a limited number of students are admitted each year (20 in 2013), meeting the admission requirements does not in itself guarantee admission to the programme.
Students with a hard-to-assess but promising record may be required to take an admission test. Furthermore, all students applying may be called in for an interview.
In evaluating qualified applicants, the admissions committee assesses each applicant on the basis of the following criteria:
- Grade point average of the qualifying BSc degree at the time of application (50 %)
(marks/grades obtained after the application deadline will not be included in the GPA)
- Grades obtained in courses of particular relevance to the IMSQE programme, e.g. in mathematics and statistics (25 %)
- General relevance of the qualifying BSc degree for the IMSQE programme (25 %)
Since English is the language of instruction in all subjects, all applicants are required to provide documentation for their English language qualifications.
Please see the page on English language requirements.
The IMSQE programme is a two-year, full-time programme of instruction corresponding to 120 ECTS credits within the areas of macroeconomics, microeconomics, economics, econometrics, finance and accounting. The courses in the IMSQE programme consist of a mixture of regular MSc courses with a quantitative orientation and PhD courses offered through the PhD programme in economics and management. Furthermore, there are special requirements regarding the level and qualitative contents of written assignments, and particular emphasis will be put on the students’ analytical, quantitative skills.
Besides the courses constituting the formal programme of study, the students are expected to take a number of special, intensive courses at the PhD level offered through various network programmes like the Danish Graduate Programme in Economics (DGPE) and the Danish Doctoral School of Finance (DDSF). Further, a Summer School will be organized in August between the first and second year, where the students must attend lectures for two weeks and prepare a written report.
A personal academic advisor - or mentor - from the faculty associated with the programme will be appointed to each student in the IMSQE programme. The advisor will assist the student in putting together the individual study programme.
To complete the IMSQE programme a total of 80 ECTS credits must be earned from elective courses marked as IMSQE courses on the course plan. This has to include a minimum of 30 ECTS advanced level Master’s courses (courses numbered 6xxx).
You can find further details on this in the academic regulations.
The IMSQE courses are:
Time Series Econometrics
Derivatives and Risk Management
Accounting for Decision and Control
Advanced Financial Economics
Advanced Financial Econometrics
In addition to the course work, written work makes up the remaining 40 ECTS credits. Of these 10 ECTS credits must be earned by completing a written assignment, while the final MSc thesis is equivalent to 30 ECTS credits. In the assessment of the final thesis, special emphasis will be put on the student’s analytical, quantitative skills. The thesis may thus be shorter than a regular MSc thesis, but a very high level of independence is required. The student must defend the thesis orally at a public defence where an external examiner will also be present.
Find the academic regulations here
The Department of Economics and Business is located at the AU campus at Fuglesangs Allé, DK-8210 Aarhus V. At the campus you will find all important facilities including the main library and lecture halls.
The active student environment at Aarhus BSS offers a wide range of both academic and social activities.
As a student at the IMSQE study programme you will have a supervisor from among the faculty at Department for Economics and Business, see 'Faculty and staff'.
IMSQE student testimonials:
Adalheidur Osk Gudlaugsdottir
The elite programme gives me an edge that other job applicants may not have. So this entire programme has been good for me - and also for my CV.
Stephanie Bendorff Røpcke
My strong analytical skills and my experience with working in an international environment are clearly the greatest gains from the programme.
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Graduates of the elite programme acquire analytical skills at a very high level. Potential future employers for elite graduates include Danish as well as international organisations, consulting firms, ministries, government agencies and financial institutions, including commercial banks, mortgage institutions, pension funds, insurance companies and investment banks.
Progress to the PhD programme
Students who are interested in pursuing an academic career may also progress to the PhD programme. The school offers a special transitional arrangement for elite students who wish to continue their research training in the PhD programme.