International Finance

  • Degree
    Master of Science (M.Sc.)
  • Type of study
    Full-time study
  • Standard period of study
    3 semesters
  • Commencement of studies
    Winter semester (1 Oct)
  • Credits (ECTS)
  • Language of instruction
  • Department / Central Institute
    Department of Business and Economics

Degree programme

The HWR Berlin offers the consecutive, English-language master's degree program in International Finance, which is aimed at qualified bachelor's graduates from Germany and abroad. The advanced, innovative, practice-based teaching of the Master’s degree programme prepares its students for the real-world challenges by focussing equally on Corporate and Capital Market Finance. The program highlights the international perspectives of finance, is particularly practice-oriented and modern. A focus is on asset and risk management as well as on qualifications around fintechs and sustainability. The international orientation of the program is matched by the cosmopolitan nature of the student body. Graduates of the degree are well equipped with the skills requisite to addressing the complex issues with which their later careers will present them.

Selected students can pursue a double degree with ESC Rennes in France, whose master's degree in finance is highly regarded internationally.

Professional field

The master's degree program offers a broad spectrum of subjects and enables graduates to take on a variety of challenging tasks in internationally active companies and financial institutions. The feedback from graduates in our network confirms: They have first-class career prospects in Germany and abroad and are active in all areas of finance.

The qualification Master of Science (M.Sc.) also provides opportunities for service in the higher levels of German public administration.

Degree structure

In their first semester, students of this degree programme complete an advanced foundation stage followed by in-depth studies in the second semester. The third semester is reserved for the master's thesis and the oral master's examination, unless an internship or a semester abroad is completed. In this case, the study programme is extended from three to four semesters.

The teaching of all seminars in English enables students to develop their understanding of the language, thereby preparing them for an international career. Teaching is provided through seminars and makes use of case studies to practice the application of theoretical knowledge in a practical setting.

First semester

  • International Corporate Finance
  • Econometrics
  • Financial Economics
  • Corporate Financial Theory and Policy
  • Tutorial seminar

Second semester

  • International Accounting
  • Financial Risk Management *
  • Management of International Asset Portfolios *
  • Elective from the Master’s pool
  •  Current Issues in Finance and Technology *
  • Tutorial seminar

* To be chosen: 2 out of 3 courses

Third semester

  • Oral examination
  • The Master’s thesis
  • Research seminar
  • Bachelor's or equivalent degree in Business Studies from an accredited university
  • Internship (at least 6 months), referring to financial topics; if not shown, an internship can be done during the third semester; in this case, the programme will be extended from three to four semesters
  • At least 210 European credit points (ECTS). Applicants with 180 European credit points (ECTS) will be required to obtain the additional 30 ECTS, for example by completing a placement in the third semester (the programme will then last four semesters)
  • Evidence specifically of having completed undergraduate modules in basic lectures in Capital Market Finance, Corporate Finance, Statistics
  • Excellent English skills proved by TOEFL – at least iBT 83, or IELTS – at least 6.0. You do not need to provide further English certificates if you hold a GMAT.
  • Letter of motivation in English
  • Curriculum vitae in English

In addition, if applicable:

  • Proof of work experience in the field of studies if you have worked for at least one year (showing the content and period of employment)
  • A GMAT/ GMAT Focus with a score above 600 points; with a GMAT/GMAT Focus no extra English proof has to be submitted

Applicants with a degree from a German university:
Please, apply online through the HWR Berlin application platform (S.A.M.).

Applicants with a degree from an university abroad:
Students with a Non-German Bachelor degree apply at uni-assist e. V.

Programmakkreditiert durch den Akkreditierungsrat

Students who acquired less than 210 European Credit Transfer System [ECTS] points in their Bachelor course must obtain the missing credit points for example by way of an integrated period of practical training, for which 30 ECTS points are awarded. This internship semester is scheduled in the third semester, after the theoretical phase and before the completion of studies. The master programme will thus last four semesters.

The content of the internship has to relate to the focus of your master studies. After enrollment you can place a request for accreditation of previous work experience or internships.

Alternatively, the missing 30 ECTS may be gained through studies abroad during your third semester. More information will be given after the start of studies upon request.

You will not have to acquire extra ECTS if your Bachelor programme was not accredited according to the ECTS point system. This generally holds true for non-EU-study programmes.

Students who have already gained 210 ECTS points in their Bachelor and completed an internship may do an additional voluntary internship in their third semester.

All information on the offered modules and lectures can be found on the online campus management system S.A.M. (Study Administration Management).

All regulations, forms and documents can be found in your faculty site.

Fees and grants

  • Tuition fees


  • Semesterfee

    ca. € 300 per semester (incl. local transport semester ticket)

Information for prospective students

Student Counselling Services

Admission and enrolment

Office for Applications, Admissions and Enrolment

Office hours:

Mon 14.00–16.00
Wed 10.00–12.00
Thu 14.00–16.00

Student advisory service

Department of Business and Economics
Kerstin Muhlack-Büchel
Student Office

Academic Director

Department of Business and Economics
Prof. Dr. André Tomfort
Professor of Financial Analysis and Management

Double Degree Cooperation with Triple-Accredited Rennes School of Business (RSB)

For more information: doubledegree(at)