The degree course in Business Mathematics was introduced in 1983 as a diploma course at the Technische Hochschule Karlsruhe. This meant that the Universität Karlsruhe (TH) was one of the first universities in Germany to recognise the high requirement for mathematicians in industry and retail with advanced skills in the specialist field of economics and business engineering - which is still the case today. Nowadays Business Mathematics at the Karlsruhe Institute of Technology (KIT) is a modern, future-orientated and interdisciplinary degree course that combines the subject of Mathematics with Economics and Business Engineering. The degree course is split equally between the Department of Mathematics and the Department of Economics and Management, and graduates are awarded the academic degree Master of Science (M.Sc.) after a standard period of study lasting four semesters.
The Master's degree has restricted admission. Admission criteria are as follows:
- A Bachelor's degree in a mathematical, economics or business engineering-related subject area.
- Successful participation in the following modules: Fundamental Mathematics (min. 20 ECTS credits), Stochastics (min. additional 8 ECTS credits), Business Studies or Economics (min. 15 credits).
- An existing examination entitlement in the Master's degree course of Business Mathematics or a related course.
If the number of applicants exceeds the number of course places available, a ranking list will be created.
The selection procedure and creation of the ranking list for applicants will be regulated by the Selection procedure statute and its update list. For better readability, here you find a (not legally binding) version of the selection procedure statute including the updates.
The Master's degree in Business Mathematics can be studied following the Bachelor's degree in mathematics or economics and business engineering. Other Bachelor's degrees can also be recognised, as long as they are worth at least 180 ECTS credits and include basic skills in the fields of Mathematics, Stochastics, Economics and Business Engineering.
The Master's degree in Business Mathematics is characterised by the diverse, forward-looking connection between mathematics and economics/business engineering in theory and practice. There is particular emphasis on the skill of mathematical model formation for solving business engineering problems, as well as on interpreting mathematical results for the application being analysed. The course teaches a sound knowledge of practical mathematical methods in the fields of stochastics and optimisation, a broad knowledge of mathematical and economics/business engineering subjects, as well as specialised in-depth knowledge of specific subjects, and also includes the latest research.
In the Master's degree, you need to earn a total of 120 credits based on the following structure, approximately evenly divided over four semesters:
|Business Mathematics (M.Sc.)|
|Subject Mathematics||Subject Economics/Business Engineering|
|Finance - Risk Management - Managerial Economics
|Applied and Pure Mathematics / Optimisation or Analysis
|Operations Management - Data Analysis - Computer Science
|Seminar (3 credits)||Seminar (3 credits)|
|Choice area and key qualifications (12 credits)|
|Master's thesis (30 credits)|
The Master's thesis is usually written in the fourth semester. It can be supervised by both Departments involved and should if possible be on a theme that is relevant to Business Mathematics both in content and in a methodological sense. Tackling the chosen theme with appropriate depth is essential.
For the Master's degree in Business Mathematics, one of the following three study profiles is selected: Financial Engineering & Actuarial Sciences or Operations Research or Classic Business Mathematics. While there is maximum flexibility with combining the modules in the last profile, the other two course profiles are created by selecting modules from certain areas to define focuses. You can find more information about this in the course scheme.
Part of the degree is acquiring key and interdisciplinary qualifications. For this area there are interdisciplinary lectures on social themes, complementary specialised units to teach you how this specialist knowledge can be applied in your everyday working life, competence training courses for specific development of soft skills, as well as foreign language tuition in a specialised context.
The examinations that have to be taken to gain a Master's degree are defined in the study and examination rules and its update list. For better readability, here you find a (not legally binding) version of the study and examination rules including the updates. The degree course scheme complements and explains the study and examination rules and gives specific examples of how the course can be organised. Detailed information about the different modules is available from the module handbook (provisional version).