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Curriculum

Major Economics

Throughout the entire Bachelor's programme in Economics, you will be equipped with the necessary tools for economic careers and research in the digital age. The focus is on understanding global social and economic challenges, such as globalisation, financial crises, unemployment or pension provision.

Curriculum Overview

Core Competencies

In the Major Economics, we focus on a holistic education. Our graduates are prepared to take on leadership roles and social responsibility in a highly dynamic environment. Soft skills are developed through the University of St.Gallen’s Contextual Studies.

Graduates of the Major Economics develop five core competencies:

  • they gain an understanding of international economic contexts and the most important economic institutions and interest groups.
  • they also understand macroeconomic events, how this multitude of decisions is coordinated, and which economic policy measures result from this.
  • they develop a clear understanding of the behaviour and decisions of microeconomic agents like governments, households, and businesses.
  • they learn how to deal confidently with data - from preparation to analysis and interpretation.
  • they acquire in-depth methodological and theoretical knowledge required for empirical economic research.

Explanation of the Study Structure

The curriculum of the Major Economics consists of three components: the Core studies (84 ECTS credits), the Contextual studies (24 ECTS credits). Completed is the degree with the  Bachelor’s Thesis, including the Thesis Preparation Colloquium (12 ECTS credits). While the Core studies focus on developing students' expertise in economics, the Contextual studies are designed to enhance their social and cultural competencies.

The order of semesters in which you can take compulsory courses is only a recommendation and you can change it according to your needs. Especially when planning an exchange study, it may make sense to complete the courses in a different order.

The Assessment Year at the University of St.Gallen (HSG) is the first year of the Bachelor's programme, during which students acquire a broad foundation of knowledge in economics and law. The curriculum includes both Core studies and Contextual studies, amounting to a total of 60 ECTS credits. The Core studies include mandatory subjects such as Business Administration, Economics and Law. The required Electives, either Mathematics for Economics or Law for Law Studies, is determined by the chosen Major. The Contextual studies cover areas such as skills development, cultural and social sciences, and foreign languages. Throughout the year, students must complete various assessments, including written exams, seminar papers, group projects, oral exams, and presentations.

learn more about the Assessment Year

After successful completion of the Assessment Year, you will deepen your knowledge of economics in the Major Economics The degree programme is divided into three parts: Compulsory Pillar, Core Electives and Electives Pillar.

As a full-time programme, the Major Economics is designed for a standard period of study of four semesters. The study period can be extended to a maximum of ten semesters. You will earn a total of 120 ECTS credits.

Do you want to study the Major Economics in German or English? You can decide for yourself by choosing the respective courses, although some of the compulsory courses are only offered in English. Which ever way, our students are excellently prepared for a career in German and English-speaking companies or organisations. You must also complete at least 8 ECTS credits in the opposite language.

Foreign languages are important to us. By the time you complete your Bachelor's degree, we require proof of proficiency in two foreign languages (in addition to your school language). You will attend a first foreign language during the Assessment Year, and learn a second foreign language when studying in the chosen Major. The range of foreign language courses offered is broad; in addition to European languages, there are courses in Arabic, Chinese and Japanese at various levels of proficiency.

Your degree programme consists of the Compulsory Pillar, the Core Electives and Electives Pillar, which are presented separately below.

The compulsory subjects give you a clear profile. In two semesters, you will receive subject and topic-related training in the core disciplines of Economics, Methods and basic Business Administration topics totalling 52 ECTS credits. Thanks to the concentration on the third and fourth semesters, you can organise the fifth and sixth semesters as you wish and easily complete an exchange semester. In addition, you will gain valuable insights into current Economic topics and learn how to deal with large amounts of data.

CourseECTSLecturerLanguageSemester
3,135 Accounting, Controlling, Auditing4Prof. PhD. Florian Eugster
Prof. Dr. Dennis Fehrenbacher
EnglishAutumn
3,220 Mikroökonomik II4Prof. Dr. Stefan BühlerGermanAutumn
3,202 Microeconomics II4Prof. Dr. Stefan BühlerEnglishAutumn
3,210 Makroökonomik II4Prof. Dr. Winfried KoenigerGermanAutumn
3,212 Macroeconomics II4Prof. Dr. Winfried KoenigerEnglishAutumn
3,220 Data Analytics I: Statistik (BVWL)6Dr. Tobias SutterGermanAutumn
3,222 Data Analytics I: Statistics (Economics)6Prof. PhD. Francesco AudrinoEnglishAutumn
3,230 Data Handling: Import, Cleaning and Visualisation4Dr. Aurélien SallinEnglishAutumn
4,135 Accounting Controlling, Auditing4Prof. Dr. Peter Leibfried
Prof. Dr. Matthias Mitterlechner
GermanSpring
4,200 Mikroökononik III6Prof. Ph.D. Michèle Müller-IttenGermanSpring
4,202 Microeconomics III6Prof. Ph.D. Michèle Müller-IttenEnglishSpring
4,212 Macroeconomics III6Prof. Guido CozziEnglishSpring
4,220 Data Analytics II: Empirical Research Methods6Prof. Ph.D. Beatrix Eugster
Prof. Dr. Johanna Kutz
EnglishSpring

In the Online Course Directory you can find the entire course offering and the course factsheets. In the respective course factsheet you will find more information on the topic, structure and exam type. 

 

Building on the solid foundation of the Compulsory courses, you can sharpen your study profile, deepen your individual interests and broaden your Economic perspective with courses offered in the Core Electives Pillar. 

You can choose between 20-32 ECTS credits of Core Electives Pillar are which are made up of the Core Electives Economics, International Affairs, Management, Finance and Computer Science (16-28 ECTS credits) and the Core Electives Law for Economists (4 ECTS credits). The Core Electives enables students to deepen and broaden their knowledge in the core disciplines of the compulsory area and/or combine it with other courses.

 In the Electives Pillar, you have the opportunity to attend courses focussing on other topics. 

The following courses are currently offered in the Core Electives Economics, International Affairs, Management, Finance and Computer Science:

Offered coursesProgrammeECTSSemester
3,130 Corporate Finance (BBWL)BBA4Autumn
3,318 Intergenerational FairnessBIA4Autumn
3,585 Applied Monte Carlo Simulation in RDSF4Autumn
5,108 Business Analytics and Data Science ApplicationsBBA4Autumn
5,111 Fundamentals of CybersecurityBBA4Autumn
5,115 Asset-backed Commodity TradingBBA4Autumn
5,117 Real Estate Finance and InvestmentsBBA4Autumn
5,120 Designing Digital Business ModelsBBA4Autumn
5,124 Financial Statement Analysis and Corporate ValuationBBA4Autumn
5,127 Management in the Digital EconomyBBA4Autumn
5,129 Blockchain and MoneyBBA4Autumn
5,135 Introduction to Human-Computer InteractionBBA4Autumn
5,139 Strategic ForesightBBA4Autumn
5,149 Equity Investing and Fundamental AnalysisBBA4Autumn
5,152 Risk ManagementBBA4Autumn
5,153 Dealing with Uncertainty in Dynamic MarketsBBA4Autumn
5,155 Machine Learing in FinanceBBA4Autumn
5,240 Game Theory and ApplicationsBEcon4Autumn
5,241 Prompt Engineering for EconomistsBEcon4Autumn
5,242 International Economics (VWL)BEcon4Autumn
5,244 Economic HistoryBEcon4Autumn
5,250 Declining BUsiness Dynamism: Drivers and ConsequencesBEcon4Autumn
5,251 Data Analytics: Statistical ProgrammingBEcon4Autumn
5,252 StadtökonomieBEcon4Autumn
5,253 Optimal Decision MakingBEcon4Autumn
5,256 Public Policy Evaluation: Theory, Tools, and ApplicationsBEcon4Autumn
5,258 Introduction to Environmental EconomicsBEcon4Autumn
5,262 Public Economics: Public PolicyBEcon4Autumn
5,263 Behavioral and Experimental EconomicsBEcon4Autumn
5,267 Ökonomie des GlücksBEcon4Autumn
5,268 Behavioral MacroeconomicsBEcon4Autumn
5,910 Coding wit AIBCS3Autumn
4,130 Corporate Finance (BBWL)BBA4Spring
4,309 The Politics of Climate ChangeBIA4Spring
4,315 Multilateralism and the Challenges to the Rules Based International OrderBIA4Spring
4,583 Mathematical Tools for Data SciencesDSF4Spring
6,100 Business and Market ResearchBBA4Spring
6,121 Data-driven Service Design and ManagementBBA4Spring
6,124 International Accounting from the Perspective of a CFOBBA4Spring
6,137 Ökonomie der CO2 neutralen StadtBBA4Spring
6,138 Strategies and Business Practices of Swiss Global SMEsBBA4Spring
6,140 Asset-backed Commodity TradingBBA4Spring
6,141 Principles of Financial and Actuarial MathematicsBBA4Spring
6,142 Applied Corporate Valuation (BBWL)BBA4Spring
6,143 InvestmentsBBA4Spring
6,155 Machine Learning in FinanceBBA4Spring
6,156 Introduction to Financial DerivativesBBA4Spring
6,244 Introduction to Market DesignBEcon4Spring
6,246 Monetary EconomicsBEcon4Spring
6,250 Democratic Choice and Social WelfareBEcon4Spring
6,252 Stochastic Methods in FinanceBEcon4Spring
6,258 Evaluation of Labour PolicyBEcon4Spring
6,264 Introduction to Normative EconomicsBEcon4Spring
6,268 Wettbewerbspolitik: Theorie und PraxisBEcon4Spring
6,270 Time Series AnalysisBEcon4Spring
6,272 Money, Banking and FinanceBEcon4Spring
6,274 Database Fundamentals for Data ScienceBEcon4Spring
6,305 Introduction to Fixed-Income MarketsBEcon4Spring
6,306 Business and Politics: A risk PerspectiveBIA4Spring
6,313 Egalitarian Capitalism in CrisisBIA4Spring
6,318 Economics of Climate ChangeBIA4Spring
6,902 Introduction to Big Data AnalyticsBCS3Spring
6,912 Financial Time Series in PythonBCS3Spring
X,XXX Public Economics: Public FinanceBEcon4Spring
X,XXX Financial EconometricsBEcon4Spring

In the Online Course Directory you can find the entire course offering and the course factsheets. In the respective course factsheet you will find more information on the topic, structure and exam type. 

Please note that the range of courses corresponds to the current planning status.

Building on the solid foundation of the Compulsory courses, you can sharpen your study profile, deepen your individual interests and broaden your Economic perspective with courses offered in the Core Electives Pillar. 

You can choose between 20-32 ECTS credits of Core Electives Pillar are which are made up of the Core Electives Economics, International Affairs, Management, Finance and Computer Science (16-28 ECTS credits) and the Core Electives Law for Economists (4 ECTS credits). The Core Electives enables students to deepen and broaden their knowledge in the core disciplines of the compulsory area and/or combine it with other courses.

 In the Electives Pillar, you have the opportunity to attend courses focussing on other topics. 

The following courses are currently offered in theCore Electives Law for Economists:

Offered coursesProgrammeECTSSemester
3,145 Business and Tax LawBBA8 (only 4 can be credited)Autumn
3,324 European LawBIA4Autumn
3,512 Integrative Course International Trade Law & PolicyBLE4Autumn
5,248 Economic Incentives and the Law: A Decision-Theoretic ApproachBEcon4Autumn
5,265 Climate Law and Policy in Europe and AbroadBEcon4Autumn
5,300 International LawBIA4Autumn
5,402 SteuerrechtBLaw4Autumn
5,415 VölkerrechtBLaw4Autumn
4,145 Wirtschafts- und SteuerrechtBBA8 (only 4 can be credited)Spring
6,402 SteuerrechtBLaw4Spring
6,424 EuroparechtBLaw4Spring
6,522 European Economic LawBLE4Spring

In the Online Course Directory you can find the entire course offering and the course factsheets. In the respective course factsheet you will find more information on the topic, structure and exam type. 

Please note that the range of courses corresponds to the current planning status.

In the Electives Pillar (0-12 ECTS credits), you can choose from a wide range of courses from the other Majors. This allows you to organise your studies according to your individual preferences - either through a broad portfolio of courses or by focusing on courses in a specific subject area.

In the Online Course Directory you can find the entire course offering and the course factsheets. In the respective course factsheet you will find more information on the topic, structure and exam type. 

Please note that the range of courses corresponds to the current planning status.

Do you want to give your degree programme a profile to communicate it to future employers? In the Major Economics, you can voluntarily choose a specialisation relevant to your degree. This will be shown on your final transcript.

The voluntary specialisationsare geared towards the different interests of the students and further sharpen the labour market profile. A voluntary specialisation can be chosen in one of the following areas:

  • Economic Data Science
  • Economic Policy
  • Business Economics

In order to complete the Major Economics with one of the above voluntary specialisations, you must complete at least 16 ECTS credits from a defined list of courses and write your Bachelor's Thesis in the corresponding subject area. You must clarify in advance with the programme management of the Major Economics whether the topic you choose for your bachelor's thesis is relevant to the specialisation in terms of its content.

You can find the current range of courses for the voluntary specialisations in the Online  Course Directory.

The Bachelor's Thesis (12 ECTS credits) is an academic research paper. The topic of the Bachelor's Thesis should be related to one or more subject areas of the Economics degree programme. In the Bachelor's Thesis, you will be guided by the relevant scientific research designs and principles.

Thesis Preparation Colloquium
The «Thesis Preparation Colloquium» is designed to promote academic maturity in relation to student research. The main objective of this Colloquium is to enable students to design, develop, conduct and document independent scientific research projects. The Colloquium is intended to support students in the preparation of their Bachelor's Thesis.

During the Colloquium, students have the opportunity to improve their research question and discuss a suitable research design.

The Colloquium is offered in the Autumn and Spring. Attendance is compulsory and it is recommended to complete the course towards the end of the degree programme, but before registering for the Bachelor's Thesis. The Colloquium is not graded.

Internationalisation and intercultural exchange are important topics in the Major Economics. Many of our students are drawn to one of our partner University worldwide in their fifth or sixth semester. We very much welcome you spending an exchange semester either at one of our partner Universities or at a University of your choice. You can also gain up to 32 ECTS credits abroad and, above all, acquire intercultural skills without having to interrupt your studies.

Here you will find a summary of the most important legal provisions in the Bachelor's degree programme.

discover more

Voluntary Specialisations in the Major Economics

Digitalisation and the abundance of data are changing the world. Companies are reinventing their business models, global trade is shifting online, and governments are finding new ways to interact with citizens. How can machine learning and econometrics make data useful? How can companies and governments develop tailored solutions? How is digital trade changing competition? The data-driven future requires new skills.

Employers: Positions that demand comprehensive knowledge of handling large datasets in a digital environment can be found across all sectors of the economy: in private companies, consulting firms, government and research institutions, as well as in the financial industry. The competent analysis of big data and digital transformation also provide many current research topics for a dissertation.
To complete the Major Economics with the designated specialisation in «Economic Data Science», you must earn at least 16 ECTS credits from the courses listed below and write your Bachelor’s Thesis in the field of «Economic Data Science».

Whether the chosen Thesis topic can be classified under this specialisation must be clarified in advance with the Programme Management of the Major Economics.

CourseProgrammeECTSSemester
3,232 Mathematical Tools for EconomistsBEcon6Autumn
3,585 Applied Monte Carlo Simulation in RDSF4Autumn
5,108 Business Analytics und Data Science ApplicationsBBA4Autumn
5,111 Fundamentals of CybersecurityBBA4Autumn
5,135 Introduction to Human-Computer InteractionBBA4Autumn
5,155 Machine Learning in FinanceBBA4Autumn
5,241 Prompt Engineering for EconomistsBEcon4Autumn
5,251 Data Analytics: Statistical ProgrammingBEcon4Autumn
5,253 Optimal Decision MakingBEcon4Autumn
5,910 Coding with AIBCS3Autumn
4,583 Mathematical Tools for Data ScienceDSF4Spring
6,121 Data-driven Service Design and ManagementBBA4Spring
6,155 Machine Learning in FinanceBBA4Spring
6,252 Stochastic Methods in FinanceBEcon4Spring
6,270 Time Series AnalysisBEcon4Spring
6,274 Database Fundamentals for Data ScienceBEcon4Spring
6,902 Introduction to Big Data InfrastructuresBCS3Spring
6,912 Financial Time Series in PythonBCS3Spring
X,XXX Financial EconometricsBEcon4Spring

The course offerings may vary by semester, as not all courses are available every semester. Please refer to the current course catalogue for up-to-date information. This table serves as a guide. The Programme Management strives to update the list for each semester and to offer sufficient courses for each voluntary specialisation.

You can find more information in the current course listings at courses.unisg.ch.

«The Science of Sustainability»: Economics focuses on the efficient use of scarce resources within a society and is also referred to as "Economics" or "Ökonomie," derived from the Greek word «Oikos» meaning family or household.
Whether in a team, a company, or the economy as a whole, our resources for producing goods and services are limited. This raises two fundamental questions: How can a certain output be achieved with the least possible use of resources? And how can an ideal outcome be attained with a given set of resources? In the study of economics, these are two central questions, and one learns how a society can and should manage limited resources—labour, capital, nature, and time—sustainably.
Business Economics is an area of applied economics that deals with the financial, organisational, market-related, and environmental issues faced by companies. It covers topics such as the concept of scarcity, production factors, distribution, and consumption.

To complete the Major Economics with the designated specialisation in «Business Economics», you must earn at least 16 ECTS credits from the courses listed below and write your Bachelor’s Thesis in the field of «Business Economics».

Whether the chosen Thesis topic can be classified under this specialisation must be clarified in advance with the Programme Management of the Major Economics.

CourseProgrammeECTSSemester
3,130 Corporate Finance (BBWL)BBA4Autumn
5,115 Asset-backed Commodity TradingBBA4Autumn
5,117 Real Estate Finance and InvestmentsBBA4Autumn
5,120 Designing Digital Business ModelsBBA4Autumn
5,124 Financial Statement Analysis an Corporate ValuationBBA4Autumn
5,127 Management in the Digital EconomyBBA4Autumn
5,129 Blockchain and MoneyBBA4Autumn
5,139 Strategic ForesightBBA4Autumn
5,149 Equity Investing and Fundamentals AnalysisBBA4Autumn
5,152 Risk ManagementBBA4Autumn
5,153 Dealing with Uncertainty in Dynamic MarketsBBA4Autumn
5,240 Game Theory and ApplicationsBEcon4Autumn
5,250 Declining Business Dynamism: Drivers and ConsequencesBEcon4Autumn
5,267 Ökonomie des GlücksBEcon4Autumn
4,130 Corporate Finance (BBWL)BBA4Spring
6,100 Business and Market ResearchBBA4Spring
6,124 International Accounting from the Perspective of the CFOBBA4Spring
6,137 Ökonomie der CO2 neutralen StadtBBA4Spring
6,138 Strategies and Business Practices of Swiss Global SMEsBBA4Spring
6,141 Principles of Financial and Actuarial MathematicsBBA4Spring
6,142 Applied Corporate Valuation (BBWL)BBA4Spring
6,143 InvestmentsBBA4Spring
6,156 Introduction to Financial DerivativesBBA4Spring
6,244 Introduction to Market DesignBEcon4Spring
6,268 Wettbewerbspolitik: Theorie und PraxisBEcon4Spring
6,272 Money, Banking and FinanceBEcon4Spring
6,305 Introduction to Fixed-Income MarketsBEcon4Spring
6,306 Business and Politics: A Risk PerspectiveBIA4Spring
6,318 Economics of Climate ChangeBIA4Spring

The course offerings may vary by semester, as not all courses are available every semester. Please refer to the current course catalogue for up-to-date information. This table serves as a guide. The programme management strives to update the list for each semester and to offer sufficient courses for each voluntary specialisation.

You can find more information in the current course listings at courses.unisg.ch.

«Economic Policy» offers timely and well-founded analyses of the decisions faced by policymakers. The range of topics spans from examining how individual markets can and should function to the broader interactions within the global economy. «Business Economics».

With a focus on the relationship between the state and the economy, economic policy addresses situations where government intervention is necessary, explores what options are available, and defines where the limits lie. When should the state implement regulatory measures to help the economy reach its full potential—and which measures should be taken?
Economic policy pursues a range of different goals and topics, which sometimes move in opposing directions—it addresses issues of stability, growth, the government’s provision of public goods, competition, and distributive justice. Other important aspects include the institutional framework in which economic policy decisions are made and the ability to empirically assess the effectiveness of political measures.
Through this specialisation, you will acquire valuable economic policy knowledge, which is highly sought after in organisations such as central banks, economic media, and international institutions.
To complete the Major Economics with the designated specialisation in «Economic Policy», you must earn at least 16 ECTS credits from the courses listed below and write your Bachelor's Thesis in the field of «Economic Policy»

Whether the chosen Thesis topic can be classified under this specialisation must be clarified in advance with the Programme Management of the Major Economics.

CourseProgrammeECTSSemester
3,318 Intergenerational FairnessBIA4Autumn
5,242 Economic Incentives and the Law: A Decision-Theoretic ApproachBEcon4Autumn
5,252 StadtökonomieBEcon4Autumn
5,256 Public Policy Evaluation: Theory, Tools, and ApplicationsBEcon4Autumn
5,258 Introduction to Environmental EconomicsBEcon4Autumn
5,262 Public Economics: Public PolicyBEcon4Autumn
5,268 Behavioral MacroeconomicsBEcon4Autumn
4,309 The Politics of Climate ChangeBIA4Spring
6,246 Monetary EconomicsBEcon4Spring
6,250 Democratic Choice and Social WelfareBEcon4Spring
6,258 Evaluation of Labour PolicyBEcon4Spring
6,264 Introduction to Normative EconomicsBEcon4Spring
6,268 Wettbewerbspolitik: Theorie und PraxisBEcon4Spring
6,306 Business and Politics: A Risk PerspectiveBIA4Spring
6,318 Economics of Climate ChangeBIA4Spring
X,XXX Public Economics: Public FinanceBEcon4Spring

The course offerings may vary by semester, as not all courses are available every semester. Please refer to the current course catalogue for up-to-date information. This table serves as a guide. The Programme Management strives to update the list for each semester and to offer sufficient courses for each voluntary specialisation.

You can find more information in the current course listings at courses.unisg.ch.

Contextual Studies

The Contextual Studies is another unique feature of the University of St.Gallen (HSG). It integrates knowledge across disciplines and strengthens the social and cultural competencies of our students distinctively. Students take a holistic approach by "thinking outside the box" and enrol in courses within focus areas and skills areas. The cultural and social science offerings in the focus areas are highly diverse and aligned with the study programme. In the skills area, students acquire additional competencies and practical skills necessary for success in the business world, e.g. presentation and negotiation techniques or programming. The Contextual Studies complements your main field of study and is awarded with 24 ECTS credits.
 learn more about the Contextual Studies

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