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Master's Degree in Economic and Business Analytics

Data is considered "the oil of the 21st century". But just collecting data isn't enough. Bright minds know how to manage and oversee huge amounts of data and get the most out of the information. You could be one of these data experts.

How can we improve our health care system? Can we prevent large amounts of food from grocery stores from ending up in the trash? How can online shops increase sales?  Nothing works if we do not collect data and information - whether in research, in the fight against crime, or for any company that wants to be successful. The new Master's degree program "Economic and Business Analytics" can show you how to keep track of huge amounts of data, how to interpret data, how to make it profitable for companies and to benefit society, and how to make business decisions based on this data.

 

Key Facts

Degree

Master of Science (MSc)

Duration

4 Semesters

ECTS

120 Credits

Language

English

Location

Linz

Program

Full-Time

Why This Degree is Particularly Attractive

  • Your expertise will be highly sought after: Businesses and society need university graduates who are familiar with data-based decision-making.
  • The interlocking of areas in economics and business administration as well as in business informatics is unique in Austria.
  • Specializing in areas such as the digital economy, financial markets or healthcare gives you a head start.
  • As part of a special mentoring program, each student is assigned to a professor in order to get direct, constructive feedback, discuss personal areas of expertise, and help develop ideas for a future career.

Areas of Specialization

The program begins with basic courses in "Applied Economics" and "Management, Digital Transformation and Technologies" and applying analytical methods in the following subject areas:

  • Econometrics: Learn to combine economic theories with statistical methods and make estimates and forecasts based on different data.
  • Decisions in firms: How does a company find employees who are the right fit? How can a company motivate employees and does 'money only' matter and play a key role?
  • Data Mining: Learn the methods and tools you need to find hidden patterns in an organization's integrated and clean data sets to derive real business value from this type of information. You can, for example, analyze a customer's purchases in his/her online shopping cart to find out which other products he/she is more likely to also put in the cart.
  • Operations Research: Optimize distribution networks, simulate business processes, improve resource utilization. Competitive companies make plans and decisions based on quantitative models and methods.

Afterwards you can choose from three of the following, optional interdisciplinary modules:

  • Organisation and Markets: Managerial Economics, Regulation and Antitrust, Organization, Marketing Analytics
  • Financial Economy: Financial Economics, Corporate Finance, Asset Management
  • Digital Economy: Industrial Organization & Internet, Online Marketplaces, Software Business, E- Business
  • Health: Health Economics, Epidemiology and Evaluation, Human Resources in Healthcare
  • Analytic Methods I & II

 

What You Will Learn in the Program

What can you do once you have completed this degree? Here are a few answers:

  • By combining courses in data analysis, microeconomic theory and strategic management, you will acquire the high-level of analytical skills needed to successfully manage the rapidly growing volumes of data.
  • The unique combination of economics, business administration and business informatics allows you to prepare relevant information, to analyze and to draw sound, evidence-based conclusions.
  • You can specialize in areas such as financial markets, health or the digital economy to sharpen your profile.
  • With your acquired skills and Master of Science degree, you are highly sought after in all areas of industry and at public institutions as an educated specialist and proven expert.

Career Prospects

Digitization, the Internet of Things and Big Data are the source of extensive and far-reaching changes at corporate headquarters. Data analysts and strategic consultants are needed in all areas.

  • As a business leader, data mining and analyses help you to make sound strategic decisions and reliably manage business decisions.
  • As a data scientist working in grocery retail, you help to forecast sales for each branch. Not only do you cut business costs, you also prevent high amounts of food waste.
  • As a data analyst in a health insurance fund, you analyze an insured individual's drug consumption and the doctor's visits. Based on statistical analysis methods, you develop recommendations to improve patients' health.
  • You analyze online stores and the effects of pricing, customer reviews, and e-commerce certificates. This not only helps stores increase their sales, but also helps customers find the products they really need.

My degree is an outstanding basis for a career in a variety of fields. The theoretical and "lateral thinking" processes have helped me to understand and analyze complex systems and processes, such as those at hospitals.“
Florian Steininger (M.Sc.) studied at the Institute of Economics and specialized in Applied Econometrics and Health.

Program Structure

Students in the Master's degree program Economic and Business Analytics must successfully pass the following subjects:

Subject ECTS Credits
Principles in Applied Economics 12
Principles in Management 12
Principles in Analytic Methods 24
Interdisciplinary  Optional Modules 36
Autonomous Coursework 12
Master's Thesis incl. Master's Thesis Seminar 24

 

Admission Requirements

Graduates of a Bachelor's or Diploma degree program in "Business" (JKU), or a comparable academic degree program equivalent in content and scope, meet the admission requirements for the Master's degree program "Economic and Business Analytics". Contact the Admissions Office for additional information about the admission requirements.

Information about Fulfilling Equivalency Requirements

Equivalency

Equivalency requirements are considered fulfilled providing the prospective applicant has successfully passed courses in the following areas as part of a Bachelor's or Diploma degree program (minimum of the scope/level as specified):

  • 12 ECTS credits in Business Administration
  • 12 ECTS credits in Economics
  •  6 ECTS credits in Mathematics/Statistics

Equivalent Bachelor's or Diploma Degree Programs

The following Bachelor's degree programs are considered equivalent to the Bachelor's degree in Business & Economics at JKU:

University Bachelor's/Diploma Degree Progrm

Vienna University of Economics and Business

Wirtschafts- und Sozialwissenschaften

Vienna University of Economics and Business

Business and Economics

University of´Vienna

Betriebswirtschaft

University of´Vienna

Internationale Betriebswirtschaft

University of Graz

Betriebswirtschaft

University of Graz

Economics

University of Graz

Umweltsystemwissenschaften - Betriebswirtschaftslehre

University of Graz

Umweltsystemwissenschaften - Volkswirtschaftslehre

University of Klagenfurt

Betriebswirtschaft - Studienzweig Betriebswirtschaft

University of Klagenfurt

Betriebswirtschaft - Studienzweig Internationale Betriebswirtschaft

University of Klagenfurt

International Business and Economics

University of Innsbruck

Wirtschaftswissenschaften

University of Innsbruck

Internationale Wirtschaftswissenschaften (Diploma)

 

Supplementary Courses to Fulfill Equivalency Requirements

Providing a minimum of 6 ECTS credits have been completed in economics, business administration, mathematics or statistics as part of a Bachelor's degree program, the Rectorate may approve admission to the program and require the student to complete supplementary examinations of up to 24 ECTS credits in the reference program.

Information about Switching to the Master's Degree Program Management and Applied Economics

The curriculum for Economic and Business Analytics replaces the curriculum for Management and Applied Economics and is in effect beginning in Winter Semester 2019/2020. If you started your Master's degree in Management and Applied Economics before Winter Semester 2019/2020, you have the following two options:

Complete the Master's Degree Program Management and Applied Economics

You are entitled to complete the Master's degree program in Management and Applied Economics by the end of the Summer Semester 2023. We recommend this option, especially if you are already quite far along in the program. 

Switch to Economic and Business Analytics

If you wish, you can switch and enroll in the Economic and Business Analytics program (submit an application to the Admissions Office). This may be an attractive option, especially if you are still at the beginning of your studies in the Management and Applied Economics program. There are regulations about equivalency/credit transfer for courses and subjects you have already completed as part of the other program when switching to Economic and Business Analytics (submit an application to the Office of Examinations and Recognition Services). You find here (German only) the regulations to switch over.

Advanced Degree Programs

After successfully completing the Master's degree program, you can opt to pursue a doctorate degree:

 

Frequently Asked Questions

What is the difference between Artificial Intelligence (AI)
and Economic and Business Analytics (EBA)?

The degree program Economic and Business Analytics (EBA) has been designed for students who wish to pursue a degree in business and economics (WIWI). The EBA program focuses on business issues and the economic correlations and relationships in the sense of a structured model. Artificial Intelligence, on the other hand, focuses on methods.

Students in the EBA program learn how to process large amounts of data in order to confidently analyze issues and make evidence-based, business management decisions.

Graduates of the EBA degree program are highly qualified to pursue business positions at private companies or at public institutions. AI graduates will tend to pursue technical careers.

What is the difference between Statistics and
Economic and Business Analytics (EBA)?

The degree program Economic and Business Analytics (EBA) has been designed for students who wish to pursue a degree in business and economics (WIWI). The EBA program focuses on business issues and the economic correlations and relationships in the sense of a structured model. Statistics tends to focus more on developing methods.

Students in the EBA program learn how to process large amounts of data in order to confidently analyze issues and make evidence-based, business management decisions.

Graduates of the EBA degree program are highly qualified to pursue business positions at private companies or at public institutions.  Graduates in Statistics specialize in methods.

To what extent is empirical training based on "real" data sets?

You work with actual data provided by different institutions (such as social insurance institutions, Statistics Austria, etc.). This information is given to us as part of our research. We also encourage you to contribute and analyze company data sets (such as for your Master's thesis) as part of a collaboration projects.

Can I study part-time?

In principal, yes. However, there are courses that have mandatory attendance requirements during the day (such as internships, intensive courses), so you must be able to have a little flexibility in your schedule.

Can I take courses via online Distance Learning?

Occasionally we offer courses in this format. However, the majority of courses are on-site at the university. In the future, however, we aim to offer more online courses.

Where can I find detailed information about the curriculum online?

You can find an overview of all required courses under Program Details. New courses for this Master's degree program are still currently under review (last update: May 2019). We will make every effort to ensure that once approved, the information will available online.

What are the requirements for admission?

You should have successfully completed a minimum of 12 ECTS credits in Economics, 12 ECTS in Business Administration, and 6 ECTS credits in Mathematics/Statistics in your undergraduate degree program. If you are missing ECTS credits, you can be admitted to the program on the condition that you complete supplementary examinations and/or (individual) courses.

How fluent does my English have to be?

While we do not have any formal language requirements, we assume that you understand English-language textbooks written at a graduate degree level.

How do I start my studies at the JKU?

From the online pre-registration procedure to paying tuition fees - here you will find everything you need to know to help you take your first step to enroll!

Still Have Questions?

Do you need help registering or do you have questions about the program? Contact the JKU's Office of Student Information and Academic Advising (SIBS)!

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