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Statistics - Probability - Mathematics in Economics (Master)
The master program in Statistics, Probability and Mathematics in Economics (SPME) equips students with the skills to analyse and solve a wide range of statistical and economic problems. Our programme provides sound, state-of-the-art knowledge in quantitative methods for statistical and economic analysis. The flexible structure of the SPME master's programme consists of a small, theory-based compulsory catalog and a wide range of options, thus providing a good opportunity to specialise according to your own interests, for example in the areas of statistics, probability theory, mathematics in economics and data science. Thanks to a good teacher-student ratio, you can develop your full potential and also collaborate on current research topics.
| Degree programme code | UE 066 395 - Master's Programme Statistics – Probability – Mathematics in Economics |
|---|---|
| Related master's programmes | Master's Programmes in Mathematics and Geoinformation, opens an external URL in a new window |
| Duration | 4 semesters |
| Credits | 120 ECTS |
| Language of instruction | English |
| Degree | Dipl.-Ing. (internationally comparable with "Master of Science") |
| Module structure | Statistics – Probability – Mathematics in Economics, opens an external URL in a new window |
Programme Structure
All detailed information on the structure and content of the programme can be found in the curriculum, opens in new window (PDF in German) or in the list of courses, opens an external URL in a new window in TISS.
Due to the wide range of choices available, courses do not have a recommended semester. In the first three semesters, students are usually required to complete
- Mathematical fundamentals totalling at least 17 ECTS
- Select at least one of the two specialisations (min. 19–24 ECTS):
- Statistics and Probability Theory: for example, Mathematical Statistics, Multivariate Statistics, Regression Models, Advanced Probability Theory or
- Mathematics in Economics: for example, Microeconometrics, Dynamic Macroeconomics, Game Theory, Nonlinear Optimisation, Applied Operations Research
- Subject specific electives totalling at least 20 ECTS
- Electives in the field of Data Science totalling at least 15 ECTS
- Free Electives and Transferable Skills (9 ECTS)
In the fourth semester, the focus is entirely on writing your master's thesis.
Further Information
Admission to the Master’s programme in ‘Statistics - Probability - Mathematics in Economic’ is possible after completing an eligible Bachelor’s degree at an accredited national or international post-secondary educational institution. To compensate for fundamental subject-specific differences between your previous education and the level of qualifications expected at TU Wien, supplementary examinations totalling a maximum of 30 ECTS credits may be required.
For example, the following Bachelor's programmes at TU Wien are considered eligible for a consecutive admission without supplementary examinations:
- Technical Mathematics
- Statistics and Mathematics in Economy
- Finance and Actuarial Mathematics
Please note that the admission review may take some time. Moreover, consider the general admission deadlines:
- Winter semester: July 7 - October 31
- Summer semester: January 7 - March 31
You can find the general admission requirements on the page Admission to Master’s Programmes.
Graduates are excellently prepared for careers in research, policy analysis, and the public as well as private sector. They combine sound theoretical knowledge with a repertoire of application-oriented techniques and models, enabling them to efficiently solve complex problems in business. As a result, they are among the most sought-after young professionals and usually have good prospects for well-paid jobs with opportunities for advancement.
They work in central banks, government agencies, (inter-)national institutions, consulting, finance, energy, industry, and data-driven startups (e.g. Tech, FinTech, HealthTech or E-Commerce) among others. Some also pursue a PhD at top universities abroad.The combination of mathematical and economic expertise makes our graduates highly sought-after professionals in an increasingly complex and data-oriented world.
Typical jobs are in:
- Data analysis and data science
- Economic and market research
- Analyst positions at central banks
- Energy forecasting
- Positions in public service and healthcare
- A wide range of opportunities in the startup environment
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Johanna Grames, Governmental Affairs and Health Economics for AOP Health, Senior Manager:
I would again choose to study SPME with a well-connected group of smart and engaged colleagues guided by passionate professors to get a scientific foundation in mathematics combined with exciting applications to understand economics and respective decision making.
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Nermina Mumic, Founder of the Startup Legitary:
The SPME master’s program combines strong mathematical foundations with advanced problem-solving and data-driven thinking. By bridging rigorous theory with real-world applications, the program lays the groundwork for innovation in AI, data science, and computational research.
At TU Wien, you can undertake one of the following doctoral programmes after completing your Master’s degree:
- 796 700 – Doctoral Programme in Engineering
- 796 600 – Doctoral Programme in Natural Sciences
- 796 300 – Doctoral Programme in Social and Economic Sciences