As part of the theoretical studies, the first two six-month stages of study, ie foundation course and advanced study, provide a broad base of theoretical knowledge and methodology. These two stages of study do not offer any elective modules.

By contrast, in in-depth study parts I and II, students can choose a specialisation. The University generally offers the following specialisations.

• A “Supervisory and financial stability functions”
• B “Bank operational functions”
• Q “Interdisciplinary and IT functions”

Each specialisation is geared towards the skills and methods that are particularly relevant in specific areas of a central bank or a banking supervisory authority. In accordance with the study regulations, each recruiting authority may modify the curriculum and structure of degree programme specialisations in agreement with the University. Accordingly, the Bundesbank and BaFin students have the following options for specialisation.

Despite the options for specialisation, the overall course of study remains general in nature and covers several core business areas. Hence the specialisations provide an indication of the graduates' subsequent area of employment but do not prejudice it.

Students can specialise not only in the area of theoretical studies. The practical studies also include elective modules, which should be coordinated with the selected specialisation to the greatest extent possible.