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Hochschule
"Hochschule" is the generic term for the various kinds of higher education or tertiary level institutions (Hochschultypen), such as universities, universities of applied sciences or colleges of art, film or music (Kunst-, Film- und Musikhochschulen), or colleges of education (Pädagogische Hochschulen).
Master
An internationally-recognised academic degree awarded for a programme that often builds on a previous Bachelor's degree. Master's programmes last between two and four semesters.
Universität
"Universität" means university and is used for research universities (wissenschaftliche Hochschulen) that offer a broad range of subjects (like arts and humanities, social sciences, natural sciences, economics and business administration, law, medicine). These institutions confer doctorates. The strong research focus benefits students in their training.
Please note, however, that English texts often use the term "university" generically, i.e. to cover all kinds of higher education institutions, for example, universities of the arts, universities of applied sciences, universities of education, etc.
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