Business Mathematics B.Sc.

 

Management scientists with a strong background in mathematics are able to solve complex economic problems using mathematical methods, and they are increasingly doing so using state-of-the-art data-based algorithmic procedures. Tasks include, for example, analysis and optimization of operational processes, intelligent warehousing and location planning, reduction of resource consumption, opportunity and risk assessment, and forecasting in the insurance and financial sectors.

These tasks require creative and innovative solutions.

The interdisciplinary Bachelor’s program at RWTH equips students with this special expertise by combining the study of mathematical structures and techniques with a critical consideration of economic problems and models. The focus is on the analysis and solution of mathematical and economic problems on the one hand and their mathematical modeling on the other. In addition to traditional methods from applied mathematics and economics, innovative computer-aided methods are applied. Special emphasis is placed on the areas of optimization/management science and statistics/econometrics.

In contrast to the more application-oriented courses offered by other universities, some of which are geared to specific industries, the focus of the RWTH program is on theoretical aspects of mathematical modeling, methodological aspects, and a consistent focus on mathematical fundamentals. At the same time, application scenarios are continually taken into consideration. Accordingly, the degree program is based on three pillars:

• Mathematics
• Economics, and
• Business Mathematics

Fixed components of the program include computer-based applications in the areas of optimization and statistics, including a statistics lab course.

A corporate internship can be integrated into the course via the Practical elective module. The department, which has numerous contacts with business and industry, supports students in the search for a suitable host company.

 

Degree Content

In the first three semesters, the curriculum provides for basic studies in mathematics, economics and computer science. From the fourth semester onwards, students have the opportunity to choose modules of their own interest from the mandatory elective area and thus develop an individual profile in management science and mathematics. An essential component is the final Bachelor's thesis, which represents the student’s first independent work on a topic in business mathematics. The course is rounded off by modules in the areas of Basic Skills and Data Literacy.

Instructors, tutors and departmental advisors help students to master the challenges of the degree program. Mentors support them in finding and implementing solutions to problems in the course of their studies.

Curriculum
Fundamentals in Mathematics	Introduction to Management Science and Mathematics	Fundamentals in Economics
	Programming, Algorithms, Data Literacy
	Specialization in Management Science and Mathematics
Advanced Mathematics	Specialization in Management Science and Mathematics	Advanced Economics
Bachelor's thesis and Basic Skills components

Further information in German is available at the website of the Management Science and Mathematics degree program.

Programs Abroad

The Business Mathematics program encourages students to participate in international mobility initiatives. Students are recommended to study abroad in the fifth or sixth semester, in particular.

Students benefit not only from the Faculty's own study abroad programs, but also from the University's strategic partnerships with international universities. For example, while completing their final project or paper they can complete a brief stay at one of the IDEA League universities. The UROP Abroad program, the only one of its kind in Germany, offers the opportunity to participate in research projects at international universities as a Bachelor student. These stays abroad are partially funded by RWTH financial aid.

All of RWTH's cooperative programs are presented on the webpages about study abroad.

 

Prerequisites

Prerequisite for Enrollment

Participation in the RWTH Mathematics/Natural Sciences and Economics self-assessments.

 

Career Prospects

Business mathematicians are able to analyze and solve problems with the help of mathematical and information technology methods, always keeping economic requirements in mind. Graduates of this interdisciplinary program have a wide range of career opportunities open to them.

Business economics graduates are sought after in the finance, insurance, and IT sectors as well as in management consulting. In addition, graduates are active in all corporate functions that require analytical thinking skills and use mathematical methods and algorithms to support decision-making processes under uncertainty. Business economists are active in controlling and corporate management; typical tasks include optimizing production or logistics processes and running statistical analyses of large data sets, for example in opinion and market research.

Due to their expertise in quantitative methods and their interdisciplinary education, RWTH graduates have excellent job prospects. Business, industry, and public administration are increasingly looking for highly qualified specialists with core competencies in mathematics and business and expertise in statistics and optimization.

 

Master's Degree Prospects

Graduates of the Business Mathematics Bachelor’s program have the opportunity to complete an English-taught Master's program in Management Science and Mathematics. The Master’s program will be offered for the first time in the 2024/25 winter semester.

Graduates also have the opportunity to enroll in the Data Science master's program. Graduates who are willing to complete a number of additional requirements may also pursue the Master's programs in Business Administration and Mathematics.

Graduates from the University’s research-oriented Master's programs are equipped to enter a varied range of careers, including doctoral study.

 

Module Handbook and Examination Regulations

The module handbook provides a description of all modules of a degree program and offers a comprehensive insight into the program contents.

The examination regulations are comprised of legally binding provisions on learning objectives, prerequisites for study, the course structure and processes, and examination procedures.

Regulations that generally apply to all Bachelor's and Master's degree programs, including information on language proficiency requirements, can be found in RWTH's General Examination Regulations. These general regulations are further specified and complemented by the subject-specific examination regulations.

If two examination regulations are valid for a degree program during a transition phase, the most current version shall apply to students enrolling in the program for the first time.

Please note that only the German examination regulations are legally binding.

Module Handbook
Subject-Specific Examination Regulations
RWTH's General Examination Regulations

 

Faculty

The Bachelor course of study in Business Mathematics is offered by the Faculty of Mathematics, Computer Science and Natural Sciences in collaboration with the School of Business and Economics.