Springe direkt zu Inhalt

Information for Prospective Students

Plakat MSc Economic Systems-5

-Consecutive Master's degree-


The MSc program in Economic Systems in cooperation with the Faculty of Economics and Business of the University of Belgrade is designed for high-achieving students with an interest in:

  • theoretical models and empirical methods in comparative and international economics.
  • socio-economic development and economic policy in emerging economies, especially in East-Central and Southeastern Europe.
  • the elaboration of applied economic solutions under global and institutional uncertainty, the evaluation of their effects as well as the design of necessary regulations and activities in this context.
  • advanced academic training in economics and quantitative methods.
  • performing economic analysis from an interdisciplinary perspective.
  • Flyer University of Belgrade here.

Why Study Here?

The Institute for East European Studies (ZI OEI) at Freie Universität Berlin is a premier area studies institution in Europe and concentrates on interdisciplinary research about Eastern Europe, Russia, and Eurasia. The OEI chair in Economics of Eastern Europe, Russia, and Eurasia focuses on the long-run effect of imperial legacies in East-Central Europe and the former Soviet Union, game-theoretic and formal methods in political economy and natural resource economics, and the role of culture, migration, and forced population transfers on political preferences and economic development. Furthermore, it maintains a strong interest in energy and climate economics with reference to energy transitions in Turkey and the Middle East as well as in Central Asia. Furthermore, it provides students with solid scientific foundations and practical experience to become skilled economists with a focus on emerging markets and with career opportunities in the following areas: 

  • public and private sectors
  • international organizations
  • universities and research institutes
  • civil society.

The MSc in Economic Systems is organized in cooperation of the Faculty of Economics and Business at the University of Belgrade. Students spend their first year of studies at the University of Belgrade and their second year of studies at Freie Universität Berlin.


The structure of the program is defined by the study and exam regulation, containing detailed descriptions of the contents and goals of individual modules as well as definitions of the type of and requirements for individual assessments in the modules and the final examination for the program. These regulations also define the available credits for each module and the required hours for the completion of the program.

The master's degree program teaches general theoretical and empirical economic skills (microeconomics, macroeconomics, econometrics), which build on the foundations of a previously completed economics or mathematics-oriented degree program. The course introduces students to comparative, international, and institutional aspects of economics, with a regional focus on emerging countries, particularly Eastern Europe. In addition, practical and theoretical in-depth knowledge of interdisciplinary area studies, with a focus on Eastern Europe, is taught. In geographic terms, the concept of Eastern Europe used here includes Russia and the post-Soviet states as well as East-Central and Southeastern Europe. The principles of academic work and good academic practice are introduced and applied.

 The program provides theoretical and practical knowledge related to Southeastern Europe and the entire post-socialist region. Students explore critically contemporary and historical economic and political problems in the region and work in groups to develop useful analyses. In doing so, they practice adopting an interdisciplinary perspective. Students deal with gender and diversity aspects in work processes and are encouraged to critically reflect on and apply these findings on an ongoing basis.

The master's program year at the Faculty of Economics and Business of the University of Belgrade is divided into the following areas (60 CP):



1. FS

Mathematics and Modelling


Applied Microeconomics

5 LP

Intermediate Public Finance

5 LP

Topics in Economics or Growth Theory and Economic Policy

6 LP

Intermediate Econometrics

5 LP


6 LP

2. FS

Policy Analysis and Impact Evaluation


Machine Learning and Data Mining


Intermediate Macroeconomics

6 LP

Applied Macro-Finance

6 LP

Professional development: Internship and LanguageCourse

5 LP

3. FS

Economies of Russia, Eastern Europe, and Eurasia

10 LP

Selected Topics in Economics

12 LP

Selected Topics in East European Studies

8 LP



Comparative Economics

10 LP

Research and Writing

5 LP

Master’s Thesis

15 LP

1. Foundation area of 55 CP, in which the following modules must be completed:

a. Compulsory modules:

  • Module: Mathematics and Modelling (5 LP)
  • Module: Applied Microeconomics (5 LP)
  • Module: Intermediate Public Finance (5 LP)
  • Module: Intermediate Econometrics (5 LP)
  • Module: Microeconometrics (6 LP)
  • Module: Policy Analysis and Impact Evaluation (6 LP)
  • Module: Machine Learning and Data Mining (5 LP)
  • Module: Intermediate Macroeconomics (6 LP)
  • Module: Applied Macro-Finance (6 LP)

b. Compulsory elective modules: One module from the following two modules must be selected and completed:

  • Module: Growth Theory and Economic Policy (6 LP) or
  • Module: Topics in Economics (6 LP)

2. Practical work experience of 5 CP: The following module must be completed.

  • Module: Professional development – Internship and Language Course (5 LP)

The master's program year at Freie Universität Berlin comprises a specialization area of 45 CP and a master's thesis of 15 CP. The following modules must be completed:

  • Module: Economies of Russia, Eastern Europe, and Eurasia (10 LP)
  • Module: Comparative Economics (10 LP)
  • Module: Research and Writing (5 LP)
  • Module: Selected Topics in Economics (12 LP)
  • Module: Selected Topics in East European Studies (8 LP)

The master’s thesis should demonstrate that the student is capable of independently treating a defined research subject. Following successful completion of the program, the candidate will be awarded the degree Master of Science in Economic Systems.

Career Opportunities

The master's degree program provides the scientific basis and practical experience for a career as an economic expert for emerging markets in the following areas, among others: Economic analysis and economic consulting in the public and private sector, international organizations, non-governmental organizations (NGOs) and scientific institutions. In addition, the master's program qualifies students for a doctorate in economics or social sciences per the respective admission requirements.