English-language Master of Science – full-time in four semesters!

  • Semesters 1 to 3: courses and seminars, delivered on the campus of Vietnamese-German University
  • Semester 4: Writing Master thesis with accompanying Master thesis seminar − opportunity to participate in the "Experience Frankfurt" module

Following the core advanced fundamentals courses (semesters 1 & 2), the modular curriculum offers courses in four fields during the specialization phase (semesters 2 & 3). The specialization phase also involves

  • practice topics courses taught by financial practitioners and economic policy decision makers, as well as
  • transferable skills courses complementing the program-specific learning.

In semester 4, the thematic focus of the Master thesis may be chosen in accordance with the individual professional and personal interests.

Any questions?

Get in touch!

Dr. Le Van Ha




Advanced fundamental courses (7 x 6 CP) ensure that students acquire a thorough knowledge in the core areas of finance, economic theory, and quantitative methods as well as in programming as needed in finance and economics.

  • Asset Pricing
  • Microeconometrics & Data Science
  • Microeconomics
  • Financial Econometrics & Macroeconometrics
  • Macroeconomics
  • Corporate Finance
  • Programming Languages
Advanced Topics (Specialization) - Semester 2 & 3

During the specialization phase, the modular curriculum offers advanced topics courses in four fields. Students choose six of the advanced topics courses offered (6 x 6 CP). The fields of specialization are:

Asset Pricing

With advanced course topics from areas such as Behavioral Finance, Big-Data-Based Personal Finance, Computational Finance, Credit Risk, Derivatives, Hedge Funds, Investment & Pension Finance, Real Estate Finance.

Corporate Finance

With advanced course topics from areas such as Banking & Securitization, Banking and the Real Economy, Financial Systems, International Financial Architecture, Market Microstructure, Mergers & Acquisitions.


With advanced course topics from areas such as Comparative Economic Analyses, Economic Growth, Fiscal Stabilization Policy, Household Finance & Macroeconomics, International Macroeconomics, Labor Markets and the Macroeconomy, Monetary Theory & Policy, Macroeconomics & Social Insurance, Economics of Taxation.

Econometrics & Data Science

With advanced course topics from areas such as Applied Financial Development, Empirical Asset Pricing, Empirical Monetary Economics, Financial Econometrics of High Frequency Data, Household Finance Econometrics, Macroeconometric Forecasting, Multivariate Statistics for Large Micro Data Sets, Stochastic Calculus in Finance and Economics.

Developing Transferable Skills - Semester 2

Transferable skills courses (2 x 3 CP) will support students in developing their personal abilities essential for a career in financial markets and economic policy analysis. Among others, the transdisciplinary topics taught may include:

  • Digital Leadership
  • Intercultural Competence
  • Strategic Networking
  • Negotiating
  • Working in Teams
  • Personality-Based Communication
  • Professional Writing & Presenting
Practice Topics in Global Finance - Semester 3

The practical aspects of the curriculum are deepened by practice topics courses (2 x 3 CP), focusing on how models and methods as studied in the advanced fundamentals and advanced topics courses are applied by financial market practitioners and economic policy decision makers. These courses are taught by high-level practitioners from central banks, treasuries, international organizations and the private financial sector. The topics taught may include:

  • Bank Governance
  • Financial Market Ethics
  • Financial Market Startups
  • Global Financial Markets Exhibiting Quantitative Easing and Tightening
  • Microfinance
  • Private Equity & Venture Capital
  • Risk Management in Financial Institutions
  • Securities Markets
  • Sovereign Risk
Master Thesis & Seminar - Semester 4

The Master thesis (24 CP) is a substantive piece of work that demonstrates a student’s in-depth familiarity with a particular topic from the program’s fields. A typical thesis will provide an original, critical synthesis of existing research, as well as evidence of the student’s ability to carry out independent research, using relevant theoretical and/or empirical methods.

The student’s work on the Master thesis will be facilitated through individual advising by a program faculty member as well as a Master thesis seminar (6 CP), providing opportunity to obtain feedback on the Master thesis project from peers and a wider range of faculty members. The Master thesis is to signal to future employers the student’s ability to carry out independent work on challenging and substantive issues in global finance and/or economic policy analysis.

Experience Frankfurt - Semester 4

Within the optional "Experience Frankfurt" module of the program offered annually in early summer, students will have the opportunity to

  • conduct in-depth academic research at Goethe University institutes as part of their work on the Master thesis and maintain close personal contact with their Master thesis advisor
  • get to know major institutions of the German and European financial and monetary system located in Frankfurt and engage in discussions with experts working for these institutions
  • (optionally) attend (free or cost-reduced) German language courses to learn or improve prior German language skills.

In case a student registers for the optional "Experience Frankfurt" module of the program, the student will be enrolled at Goethe University Frankfurt for the duration of the fourth semester, allowing free access to Goethe University Frankfurt and free or cost-reduced access to parts of the broader public infrastructure. While the major parts of the "Experience Frankfurt" module are free of charge for program participants, expenses for travel, accommodation and meals are not included.


Networking is an integral part of the study experience. We regularly invite prominent guest speakers from various backgrounds to talk about current topics in the global financial industry. While chatting with the experts in an intimate setting, students and alumni gain unique insights into how these experts are dealing with industry-specific challenges and opportunities. Make sure not to miss any of our expert talks and mark your calendars with the upcoming dates.


The GFE program features rigorous advanced fundamentals and specialization courses in Finance and Economics, backed by supporting courses in Econometrics, Data Science and Programming. Based on my great experience with the academic environment at VGU, I strongly believe that graduates from GFE will make glittering careers in the world of finance and economic analysis.

Giang Anh Minh TamBFA/VGU 2016