Hi!

Tried to register, but it did not really work out...
Anyway, I would like to ask if you can please check my letter of motivation :-)
I hope it is at least good enoguh to justify the beginning of the 4th paragraph :-D

Thank you very much in advance.

Greetings!

Dear Sir or Madam,

I am a 4th Semester Business Administration student at XXX in . I am writing to apply for the Study Abroad program at the XXX.

There are several reasons I decided that the XXX was my outstanding favourite of ’s Universities. It has an excellent reputation within and far beyond. The XXX was recommended to me by both my professors and fellow students who had been there before. The courses I chose at the XXX are great to round out my first major (Finances) and I can also broaden my studies with units not offered in my home university.

I want to participate in the program, because it is a great opportunity to not only build an essential cosmopolitan base for working in a globalized business world, but first and foremost to grow personally by adapting to a foreign country with numerous unique places and by learning from new people and different cultures. , as a country with a strong historical background of cultural diversity, is therefore the perfect choice for me. Long before I began to study I had already been utterly sure that I wanted to spend parts of my studies in .

I bring along excellent English skills for the Study Abroad program and I really think living in can help me improve them even more. Being a very sociable person, I want to be part of the campus und sports life at the XXX. I am eager to make new friends in and to begin my studies at the XXX.

Thank you very much in advance for taking the time to consider my application. I am looking forward to hearing from you.

Yours sincerely,

XXX
I am part of an online editing and proofreading service. For more info on this service, please see my profile. Here is my revision of your first two paragraphs (which I would combine into one)

I am a 4th Semester business administration student at *** in Germany. I am writing to apply for the Study Abroad program at the ***. *** is my favourite of Australia’s universities because of its excellent reputation within Australia and beyond. The *** was recommended to me by my professors and by fellow students who had studied there. The courses at the *** will round out my first major (finances) and *** will offer me the opportunity to broaden my studies with units not offered in my home university.

I cut out some excess words ("outstanding favourite" is overkill) and combined sentences so they would be pithier. Watch the capitalization: "business administration" is lower-case as is "university" when it's not a specific university's name. I also changed the last sentence, so it's focus is why this university would be the best fit for you. Good luck!
I almost forgot: get rid of "Dear Sir or Madam"! The salutation should be "To The Selection Committee:" or to one person (check the program's website or call their office to find out whose name you should use).
Teachers: We supply a list of EFL job vacancies
Thanks!

The letter is on its way to the "selection committee" by now...but I actually didn't see your second post before sending it. I hope that'll be not too bad :-)