Thanks a lot for the information and your opinions.
@dresdentech „The PhD duration in Europe is shorter than at prestigious US universities and PhD is regarded as a toxic chemical substance outside academia.“
I know some people in german economics programs, who will receive their Dr. within three years. So do others in „phd-schools“ here in germany. So your chances on the job market depend on the degree you received, not the knowledge you collected and the expertise you have?
@all of you: I agree with you, the quality and the reputation of the university and the master-program itself is a much more important factor than the existence of a good beh.-econ-faculty. The good programs you recommeded are quite expensive. At this point I just cannot afford them. I applied for some stipens, but the decision takes months (you know how it is).
Given my financial situation, i think picking the best possible program is my way to go. I am particularly interested in programs focussing on microeconomic theory. Which programs/universities would you recommend (europe, germany)? I do not think about chances on the job market outside the academic world right now. I "just" want a good, research oriented program at a good university, that provides a basis for a phd-program. I want to have the opportunity to collect knowledge about the topics I am interested in and learn from professors who are actually researching in these topics/fields.