Master of Science in Quantitative Decision Making in Economics and Management (QDEM)

The degree programme in “Quantitative Decision Making in Economics and Management” covers three subject fields that are complementary to each other. These are Econometric Methods, which includes statistical and econometrical methods of data analysis, operations research, data science, machine learning and data science, and Economic Behaviour & Strategy, which encompasses the scientific foundations of psychological, social and behavioural strategical interactions, economic decision-making and game theory. Through the combination of these course contents, students will be qualified to analyse and solve individual, social, and corporate strategic decision-making problems by employing a data-based approach and by utilising different analytic methods. During the programme, students acquire a solid overview of the three subject fields (econometric methods, management science & business intelligence, and economic behaviour & strategy) in the core modules. Through the elective modules in the subsequent specialisation phase, students obtain a deep theoretical and methodological understanding as well as practical skills, which qualifies them to employ relevant methods and to provide a critical interpretation of their results in a wide spectrum of decision-making situations. Students will be able to work in groups and elaborate on different problem-solving approaches. In addition, they will have the capability of presenting the knowledge obtained to a wide variety of audiences, such as experts and the general public. The Master of Science “Quantitative Decision Making in Economics and Management” (QDEM) is a modular programme, comprised of 120 Credit Points (CP). Typically, modules are 6 CP and students enrol in 30 CP each semester. These are divided into the following five parts: Fundamentals (Semester One; 30 CP): The methodological foundations are conveyed in five core modules, upon which the further phases of the programme are built: Mathematics/Statistics, Programming, Advanced Econometrics, Operations Research, Economic Decision Making. Academic Skills (Semester Two; 6 CP): Advanced methods of academic work will be taught in small groups. Additionally, students will attend one course on personal development. Specialisation (Semesters Two and Three; 42 CP): Students can choose up to seven specialisation modules from the three subject fields (i) Econometrics, (ii) Management Science & Business Intelligence and (iii) Economic Behaviour and Strategy. Also, two modules from the free part can be chosen. Research module (Semesters Two and Three; 12 CP): Students attend two applied project seminars either in one of the three subject fields or in two different subject fields. Master's thesis and Research Colloquium (Semester Four; 30 CP) The lessons are held in the form of lectures, tutorials, small groups and project seminars. PDF Download