The practical studies comprise two types of modules.

• Mandatory modules (no choice regarding the business unit) must be completed by all students.
• Elective modules generally provide students with the opportunity (unless this contravenes operational concerns) to express individual preferences regarding a practical internship.

As far as the sequence of the modules is concerned, the modules should, as a rule, be taken in the order indicated, although students may change the sequence within a practical studies period, eg between P3A and P3B. In the event of operational bottlenecks at the units accepting students, the sequence can be altered and the modules rescheduled in consultation with the University.
During practical study P4C, students may opt to complete a practical internship on their own initiative at a different suitable institution in Germany or abroad, in particular at partner central banks within the ESCB and other European supervisory authorities. Alternatively, students should complete the module in an area relating to their future professional career, if this is known and feasible.