Test of admission
The test of admission for winter term 2024/2025 will take place around end of March 2024, 2pm to 3:30pm and, is a physical presence test. The exact time and conditions will be confirmed in the invitation to the test which will be sent out around mid-March 17, 2024.
Please note: There is no other possibility - you have to take the test personally in Munich at LMU. Please be prepared to get your paperwork and travel arrangements done quickly in case you get an invitation. There is no funding / no reimbursement available for travel costs. We cannot provide accommodation.
Applicants who cannot attend the test at the regular date may be invited to a follow-up test around mid-April 14, 2024 (2pm to 3:30pm). Only circumstances beyond the control of the individual will make you eligible for an invitation to the second test. Explanations to justify circumstances beyond your control must be submitted via email: mgse-master@econ.lmu.de at the latest at the time of the test of admission I. You have to add documents that provide evidence that the circumstances are beyond your control. In the case of sickness, we require a doctor’s note, which has to be sent by regular mail to: Graduate Master Office, Department of Economics, Ludwigstr. 28, front bldg. Office 303, 80539 Munich, Germany. Candidates whose explanation has been deemed acceptable can take the test on the alternative date.
topCoverage of the test
The test lasts for 90 minutes and contains tasks from the following subject areas:
- Mathematical/Quantitative Methods
- Microeconomics
- Macroeconomics
- Empirical Economics
The tasks will be given in English.
You must achieve at least 60% of all possible points and 20% of the points in the relevant parts of the test in order to pass the test. The test will contain at least one question from each of the fields Microeconomics, Macroeconomics, Empirical Economics and Mathematical Methods.
To prepare for the test we recommend studying the following books/chapters:
Microeconomics
Varian H. (1999) „Intermediate Microeconomics“, W.W. Norton.
Please note that the chapters could be changed in following editions, the determining factor is the title!!!
- Chapter 12 (Decision under Risk)
- Chapter 29 & 30 (General Equilibrium)
- Chapter 36 (Moral Hazard & Adverse Selection)
Andreu Mas Colell et al. (1995), Microeconomic Theory, Oxford University Press:
- Chapter 6 A-C (Decision under Risk)
- Chapter 13 A-B (Adverse Selection)
- Chapter 14 B (Moral Hazard)
- Chapter 15-17 & 21 (General Equilibrium)
Macroeconomics
R. Hall and J. Taylor, Macroeconomics, Fourth Edition, W. W. Norton, 1993.
Empirical Economics
J. H. Stock & M. W. Watson: Introductions to Econometrics (3rd edition), Boston, MA: Addison-Wesley, 2011
- Chapter 1-9
- Chapter 11
- Chapter 13
Mathematical Methods
Chiang, A.: Fundamental Methods of Mathematical Economics, New York: McGraw Hill, 1984
Hoy, M., Livernois, J., McKenna, C., Rees, R. und Thanasis, S.: Mathematics for Economics, Don Mills, Ontario: Addison-Wesley, 1986
Test evaluation
Your solutions to the test problems will be evaluated by two members of the selection committee. Suitability for the Master’s Program in Economics is established when both evaluators agree that your performance is acceptable ("pass").
You will receive a non binding statement about your test result by e-mail as soon as possible. Details in regard of the estimated time for the evaluation will be communicated by e-mail to all candidates invited to the test of admission.