Admission to all Master’s and Ph.D. programs at the GSEFM occurs as part of a competitive process on the basis of the review of the application dossiers by the faculty admissions committee. In evaluating the application dossiers, the admissions committee inter alia gives consideration to the following factors:
Beyond previous education emphasizing quantitative methods, a strong interest in the substantive issues covered in the GSEFM program for which an application is submitted to as well as the ability to communicate clearly are essential for successful studies. This should be documented by a short essay answering the following questions:
Question #1 (answer not to exceed 2,000 words):
Describe how in your academic work to date you have demonstrated expertise in making use of mathematical/statistical methods and/or other areas of logical reasoning. Make sure to include a short description of the methods you have used, and briefly explain why you chose to use those methods rather than alternative methods.
Question #2 (answer not to exceed 2,000 words):
Choosing an area of research within the Ph.D. program [MSQ: within the track of the MSQ program] at GSEFM that you are applying for, describe how you would structure a term paper that is supposed to (i) address a question that - within this area of research - is topical, (ii) review what conclusions can be reached on the basis of the current state of the literature, and (iii) make proposals how the literature may need to be extended so as to reach a sound conclusion.
Fields of Previous Studies, Previous Degree, and Grade Point Average
An undergraduate specialization in economics or business administration is not required. As the first-year courses in the GSEFM programs assume familiarity for example with multivariable calculus, statistics through simple regression, and matrix algebra, adequate mathematical preparation is very important. The minimum previous degree prerequisite is a bachelor's degree (to be completed at the time of beginning of program studies), in a degree program with thorough coverage of quantitative methods. Candidates who have not completed a bachelor's degree in a degree program with thorough coverage of quantitative methods must have completed (at the time of beginning of their program studies) a master's degree in a degree program with thorough coverage of quantitative methods. While there is no minimum grade point average, given the quality of applications regularly received by the GSEFM, the admissions committee's standard should be expected to be well above a "B" grade point average.
Two Letters of Evaluation
Two confidential letters of evaluation, at least one of them by an active university lecturer, that give evidence of the candidate’s aptitude for the chosen program are required. These letters shall be submitted either in sealed envelopes or by e-mail directly by the evaluator. Evaluations consist of the evaluation form and a free written statement by the evaluator.
All applicants are expected to take the quantitative section of the Graduate Record Examination (GRE). Applicants to the programs in Finance, or Marketing can substitute the GRE quantitative score for the GMAT quantitative score. While both tests also contain verbal and analytical writing sections, the admissions committee does not require these to be taken. A quantitative score in the upper 20th percentile is the minimum score providing evidence in favor of reasonably strong quantitative skills for the Ph.D. programs, while a quantitative score in the upper 25th percentile is sufficient for the MSQ programs. Test scores that are older than four years on the deadline for the stage in which the complete application is submitted (January 31, March 31, or May 31, respectively) cannot be accepted. Given the quality of applications regularly received by the admissions committee though, individual admissions are likely to be conditioned on a significantly better test performance. The GRE Designated Institution Code for GSEFM is "7276". The GMAT Designated Institution Codes are "7HK-9Q-90", "7HK-9Q-96", "7HK-9Q-92", "7HK-9Q-26", "7HK-9Q-23", "7HK-9Q-97", depending on the program.
The exclusive language of all GSEFM programs is English. Sufficiently strong English language skills may be documented in one of the following forms: (i) A diploma/degree certificate from a secondary school with English as the official language of instruction (the secondary school must have been attended for at least two years); (ii) At least one year of successfully completed university-level studies in a degree program being exclusively taught in the English language; (iii) Test of English as a Foreign Language (TOEFL) or International English Language Testing System (IELTS) scores. The minimum scores are as follows: TOEFL/iBT: 93; TOEFL/PBT: 580; IELTS: 7.0. The TOEFL Designated Institution Code for GSEFM is "7276".