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Economics and Business Administration - Finance

Master (2 years) of Economics and Business Administration (Finance), 120 ECTS
Economics, commerce, management and accounting

Institution Aarhus University (AU)
Campus Aarhus
Duration 2 years
Tuition per term (Non-EU/EAA/CH) 5000 EUR
Tuition per term (EU/EAA/CH) 0 EUR
The Master’s degree programme in finance is a comprehensive, research-based university education in finance with a strong focus on developing quantitative and analytical skills relevant to the financial industry. The programme introduces the students to state-of-the-art theoretical and empirical models of financial decision-making, asset and derivative pricing, financial institutions and intermediaries, and corporate finance.  

Financial theory and asset pricing
Students will obtain a strong foundation in standard financial theory and learn how to apply both theoretical and empirical models to analyse financial assets such as stocks, bonds and derivatives, as well as real assets such as investment projects within the firm. The objective is to equip the students with the ability to demine the fair prices of financial and real assets using relevant asset pricing models, identify the risk premia required by investors for bearing risk and discuss their sources, and characterise how investors and financial institutions trade off risk and return when forming optimal portfolios.  

Financial institutions
Students are introduced to the different players in financial markets today and study their role in setting prices and allocating capital. Asset managers and intermediaries are central to the financial system. They provide liquidity to market participants, facilitate financial transactions and risk-sharing and help ensure an optimal capital allocation between financial institutions, firms and households. The students will learn about asset management in financial institutions and discuss the role, impact and importance of asset managers and intermediaries for the financial system.  

Analytical and quantitative skills
Students will be trained in relevant econometric methods needed to carry out empirical studies and implement both theoretical and empirical models in finance using real-world financial data. Being able to handle and work with data is becoming an essential and highly valued skill, and the use of real-world data is thus a natural component of many courses on the programme and used in exercises, exams and written projects. The use of programming languages is widely adopted in the industry as well, and the use of programming languages is therefore integrated into courses and exams when relevant.


Aarhus BSS hosts a rich and varied programme of activities for you as a student, both study-related and social. Our many student associations host events ranging from lectures and company events to career days and sports days, Friday bars, and celebrations, so there is plenty of scope for meeting and networking with like-minded people, discovering new areas of academic interest, and socialising with fellow students.  


Upon graduation, students can take up positions in banks, investment companies, pension companies, regulatory bodies, consultancy firms, fintech and finance departments in non-financial companies. The degree programme also provides an excellent basis for a subsequent PhD programme.


Aarhus BSS (School of Business and Social Sciences) is one of the five faculties at Aarhus University. Aarhus BSS ranks among the largest business schools in Europe, encompassing both traditional business and social science disciplines in its broad academic portfolio. Aarhus BSS holds the distinguished AACSB, AMBA and EQUIS accreditations and is thus a Triple Crown School.


At Aarhus BSS, we conduct research and teaching at the highest academic level. We provide our students with the exact knowledge, skills and experience that are essential for engaging in professional business activities in a global marketplace.  

Our broad portfolio enables us to attract researchers, lecturers and students from all over the world. With their help, we have built an international environment that promotes the exchange of different academic and cultural views and fosters new experiences and friendships.

We encourage our students to take a semester abroad at one of the school’s approximately three hundred partner universities around the world. Studying abroad is an excellent opportunity to expand your horizons academically, culturally and personally. It is also a great opportunity for you to acquire valuable international experience and qualifications that are in high demand in companies and organisations everywhere.


In general, admission to a master’s degree programme requires successful completion of a relevant and recognised university degree equivalent to a Danish bachelor’s degree in level and length (180 ECTS). In addition, you must meet the specific requirements for the individual programme, including language requirements. If you wish to study a master’s degree at Aarhus University, please check out our page ‘Am I qualified for admission’:

If you are curious about how to submit a master’s degree application to Aarhus University, then make sure to check out our ‘Apply Now’ page. Here you can find information about relevant fees, guides, and video tutorials on how to use the application portal:

There are the same English language requirements for all international students with a few exceptions. The general English language requirements for master’s degrees can be found here:

Aarhus University offers a limited number of Danish state scholarships for highly qualified non-EU students applying for master’s degrees. You can read more about scholarships here:

Students from outside the EU are generally required to pay tuition and application fee. You can consult our page Tuition fees for master’s degree programmes:

Would you like to chat with a fellow student from your country, or with someone who studies the programme you are interested in? You can get help with your questions from Aarhus University’s Student Ambassadors:


Application date
Jan 15
Start date
Sep 01


Application date
Mar 01
Start date
Sep 01


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