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Economics×

University of Helsinki, Full Time Masters Degrees in Economics

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Are you looking forward to a future as an expert in Agricultural, Environmental and Resource Economics? As a graduate of our Master’s Programme in Agricultural, Environmental and Resource Economics, you can find employment in the national or international market, for example at universities, research institutes, the public sector or in business, or you can become a self-employed entrepreneur. Read more
Are you looking forward to a future as an expert in Agricultural, Environmental and Resource Economics? As a graduate of our Master’s Programme in Agricultural, Environmental and Resource Economics, you can find employment in the national or international market, for example at universities, research institutes, the public sector or in business, or you can become a self-employed entrepreneur.

The Viikki Campus offers optimal resources for studying the unique range of subjects offered by our programme. Upon graduating you will be a professional in applied economics in agricultural, environmental and resource-focused fields. You will be well versed in topics such as climate policy, sustainable agriculture and food security.

The Master's programme comprises two study tracks:
1. Agricultural economics
-Languages of instruction: Finnish, Swedish, English

2. Environmental and resource economics
-Language of instruction: English

As a graduate of the study track in Agricultural Economics you will have the ability to:
-Support decision-making in the public and private sectors in various roles as a consultant, researcher or public servant.
-Analyse and communicate the impact of policies on fields relating to agriculture, the environment and natural resources.
-Apply economic theories and quantitative methodologies, such as econometrics and numerical modelling, to issues in the field.

As a graduate of the study track in Environmental and Resource economics you will have the ability to:
-Identify the socio-economic drivers of natural resource use and environmental degradation.
-Analyse the effects of policies on the environment and on natural resource usage.
-Formulate recommendations to support decision-making in both the public and private sectors.
-Apply microeconomic theory and quantitative methods (econometrics, analytical and numerical dynamic modelling, game theory).

The University of Helsinki will introduce annual tuition fees to foreign-language Master’s programmes starting on August 1, 2017 or later. The fee ranges from 13 000-18 000 euros. Citizens of non-EU/EEA countries, who do not have a permanent residence status in the area, are liable to these fees. You can check this FAQ at the Studyinfo website whether or not you are required to pay tuition fees: https://studyinfo.fi/wp2/en/higher-education/higher-education-institutions-will-introduce-tuition-fees-in-autumn-2017/am-i-required-to-pay-tuition-fees/

Programme Contents

Studytrack: Agricultural economics
After completing the study track in agricultural economics you will be able:
-To apply the concepts and central theories of agricultural economics.
-To apply perspectives of economic, ecological and social sustainability.
-To analyse and develop the business operations of agricultural and rural enterprises as well as intensify production in a sustainable manner.
-To analyse the operation of agricultural and food markets.
-To analyse the international political steering of agriculture.

The study track of agricultural economics combines expertise in business administration and economics with knowledge of the special features of agriculture, rural enterprises, the food market and related policies. Through studies in agricultural economics, you will learn to apply theories and models used to define the profitability and competiveness of agricultural and rural enterprises and the farm-level factors contributing to profitability and competiveness. You will examine the operation of the market and assess various policy options. The studies include practice-oriented assignments that build your decision-making and career skills, and your self-confidence to apply theoretical knowledge in practice.

Studytrack: Environmental and Resource Economics
In this studytrack you will receive a state-of-the-art economic education in environmental and natural resources policy. The courses are divided into three groups:
-Theoretically focused courses in which you will gain a deep understanding of static and dynamic models and applications of game theory.
-Courses focusing on quantitative methods in which you will gain the ability to run numerical simulations and apply econometric methods.
-Thematic courses focusing on relevant challenges in environmental and resource policy.

Selection of the Major

Studytrack: Agricultural economics
Graduates of the Bachelor’s Programme in Environmental and Food Economics can continue directly to the Master’s Programme in Agricultural, Environmental and Resource Economics, provided that they specialised in agricultural, environmental and resource economics for their Bachelor’s degree. In addition, graduates of the Bachelor’s Programme in Agricultural Sciences can continue directly to the study track in agricultural economics, provided that they have completed the module in agricultural economics for their Bachelor’s degree.

Applicants from other programmes and universities must have completed a sufficient amount of studies in economics, mathematics and statistics. Some of these studies may be incorporated into the Master’s degree as optional studies. If there are more applicants than student places, admission will be based on your previous academic performance and the applicability of your Bachelor’s degree.

Studytrack: Environmental and Resource Economics
The studytrack offers three mandatory modules and several optional modules. You can choose two thematic modules in order to focus on issues of interest to you. See the research focus below.

Programme Structure

Studytrack: Agricultural economics
The scope of the Master’s level studies is 120 credits, including both field-specific advanced studies and optional studies in the field or from other degree programmes. The minimum scope of field-specific advanced studies is 60 credits, 30 of which are accounted for by the Master’s thesis. You are recommended to focus on your Master’s thesis during your second year of Master’s studies.

The advanced studies comprise at least two modules of 15 credits. The modules are:
-Agricultural markets and policy
-Business economics
-Rural entrepreneurship
-Environmental and natural resources

In addition, your studies must include at least 15 credits of methodological studies. The studies encompass a practical training period and seminars, and they can include career orientation and career planning. You will also need to complete a personal study plan (PSP).

The scope of optional field-specific studies and studies offered by other degree programmes is 30–40 credits.

Studytrack: Environmental and Resource Economics
The studytrack lasts four semesters, lasting approximately 22 months (1st year beginning of August- 2nd year beginning of June).

Core modules (45 ECTS)
-Environmental economics
-Natural Resource Economics, dynamic optimisation and numerical models
-Environmental valuation, applied econometrics and cost-benefit analysis

Thematic modules (30 ECTS) Choose two of the following:
-Climate change
-Baltic Sea protection
-Agricultural economics and agri-environmental policy
-Forest economics

Internship and Master’s thesis seminar 15 credits (ECTS)

Master’s thesis 30 credits (ECTS)

Career Prospects

According to the labour market surveys conducted by the Finnish Association of Academic Agronomists, graduates from the study track in agricultural economics have been successful in finding employment – often before graduation. The programme alumni have found positions in various organisations in the public and private sectors in Finland, and many have pursued international careers in Europe or further afield. This study programme provides you with wide-ranging skills for starting a business and for serving in various expert or managerial positions, even if the focus of studies is on applied agriculture. Consequently, possible job titles are numerous: specialist, teacher, entrepreneur, researcher, senior officer, product manager, head of finance, etc. If you are interested in developing your expertise further, you can pursue postgraduate studies in the doctoral programmes offered by the University of Helsinki or another university in Finland or abroad.

The Environmental and Resource Economics Master of Science offers promising career paths in government, research, consultancy, industry, NGOs and international organisations.

Internationalization

-You can complete a practical training period abroad or go on a student exchange.
-You can work as a member of an international research group in Finland or abroad.
-You can complete part of your degree in English by taking courses given by international teachers.

As a student in the programme, you will have opportunities for internships, visits and study exchanges with partner universities. Visiting foreign lecturers give intensive courses as part of the thematic modules. As a student you will also be able to join our international research networks.

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This programme prepares you for a career as an economist in business, financial markets and the public sector. Upon completing the programme you will be awarded the Master of Social Sciences degree, having demonstrated that you have developed many skills needed in your future career. Read more
This programme prepares you for a career as an economist in business, financial markets and the public sector. Upon completing the programme you will be awarded the Master of Social Sciences degree, having demonstrated that you have developed many skills needed in your future career:
-Profound knowledge of economic theory and familiarity with scientific economic literature.
-The ability to apply economic theory to solving practical problems and interpreting economic phenomena.
-Familiarity with econometric methods and the ability to apply them to practical research problems.
-The ability to collect and interpret empirical data.
-The ability to communicate conclusions and assess the significance of the assumptions made for them.
-Fluency in communicating economic issues to different domestic and international audiences as well as the capability to work independently and in multidisciplinary cooperation.
-Readiness to assess your own professional performance and systematically develop it.
-Knowledge of sources of economic information and the ability to adopt new tools of economic analysis.

The programme comprises two tracks. The Research track is more demanding in that it gives more profound knowledge of economic theory and econometric methods than the General track. This track is particularly suitable if your goal is to pursue a doctoral degree in economics. Profound knowledge of economic theory and methods is also useful in many demanding careers as an economist.

The degree requirements in both tracks correspond to international standards, which will help you when finding employment and pursuing further studies towards a doctoral degree in Finland and globally.

The University of Helsinki will introduce annual tuition fees to foreign-language Master’s programmes starting on August 1, 2017 or later. The fee ranges from 13 000-18 000 euros. Citizens of non-EU/EEA countries, who do not have a permanent residence status in the area, are liable to these fees. You can check this FAQ at the Studyinfo website whether or not you are required to pay tuition fees: https://studyinfo.fi/wp2/en/higher-education/higher-education-institutions-will-introduce-tuition-fees-in-autumn-2017/am-i-required-to-pay-tuition-fees/

Programme Contents

The module of Economic Theory and Econometric Methods, which you will take in the autumn semester of your first year of study, is the foundation of the programme. It covers the central microeconomic and macroeconomic theory as well as basic econometric methods. After completing this module, you can choose from a wide selection of fields of economics to concentrate on. Optional studies consist of additional courses in economics, or other university-level courses. In addition, an internship or a labour market project is included in the degree requirements.

The programme mostly comprises lecture courses. The courses on economic theory and econometric methods consist of lectures and exercise sessions; for the most part they are completed by taking a written examination. Depending on the track, you take 3 to 4 field courses, selected based on your interests so that they form a meaningful whole. Additional field courses in economics can be included in the optional studies. In the field courses, you will be exposed to different teaching methods, such as problem-based learning and other group activities and seminars. Your grades in many field courses will be based on assignments, presentations and term papers in addition to a final examination.

Economics is a quantitative social science discipline, so you are expected to have good basic command of mathematics and statistics. Your skills in these areas will be systematically developed in this programme. Especially if you aim for a career as an economist or for doctoral studies, you are advised to include further methodological courses in your optional studies. In addition to mathematics and statistics, courses in computer science are recommended.

The structure of the programme is comparable to those of the Master's programmes in economics offered by the best international universities. It differs from the Master's programmes of the Finnish business schools in that the demanding courses in economic theory and econometrics comprise a greater proportion, and the goal is above all to prepare you for a career as an economist. The research track corresponds to Master's programmes in quantitative economics offered by some foreign universities. In line with our programme, the research track will prepare you for a career as an economist and for doctoral studies in economics.

Selection of the Major

The programme has two tracks:
-General track
-Research track

You select the track when applying for the programme: your choice will determine the degree requirements. The difference between the tracks is that the Research track aims at providing more profound knowledge of economic theory and econometric methods, whereas the General track emphasises fields and applications of economics, and it is possible to include more optional studies in the degree. The Research track prepares you for doctoral studies in economics, and its degree requirements contain most of the doctoral-level core courses in economic theory and econometrics. Taking these courses as part of the Master's degree helps you to graduate faster from the doctoral programme later. Graduates from the Research track are given precedence for the doctoral programme in economics at the University of Helsinki. The Research track is also recommended if you are interested in taking the more demanding core courses to acquire more profound knowledge of economics even if your goal is not to pursue doctoral studies.

Programme Structure

The programme comprises 120 credits (ECTS, European Credit Transfer System), and it is designed to be completed in two years. The degree requirements consist of the following modules (in the General / Research track):
Advanced studies (at least 90 ECTS / 100 ECTS)
-Economic theory and econometric methods (30 ECTS / 45 ECTS)
-Research skills (10 ECTS)
-Master's thesis (30 ECTS)
-Field courses in economics (at least 20 ECTS / 15 ECTS)

Internship or Labour market project (5 to 15 ECTS)

Optional studies (15 to 25 ECTS / 5 to 15 ECTS)

After completing the unit in economic theory and econometric methods, you select the fields in economics that you want to concentrate on. It is advisable for you to include further advanced field courses in economics or methodological courses in your optional studies. The study unit in research skills prepares you for writing the Master's thesis, and familiarises you with scholarly work in economics, research ethics and reporting research results. In addition, you prepare a research proposal for your thesis. Integrated into the studies, the degree requirements include drawing up a personal study plan, and career planning. An internship period, a labour market project or other studies aimed at developing employment skills are also included (5 to 15 ECTS so that the extent of these studies and the optional studies amount to 30 ECTS in the General track and to 20 ECTS in the Research track).

Career Prospects

The Master's Programme in Economics at the University of Helsinki prepares you for a career as an economist in business and the public sector. Economists are employed in administrative, planning and development duties requiring economic expertise in various national and international organisations. Examples include an analyst career involving risk management, asset pricing and investment strategy, jobs related to analysing the market, production and pricing in companies, assessment and planning of economic policy, and communication. Analytical skills and knowledge of quantitative methods will be of central importance in your work as an economist. In particular, economists find employment in government, financial institutions, central banks, national and international organisations, and business.

The Research track prepares you for particularly demanding careers. It is also an excellent path to doctoral studies in economics. It is advisable to select the field courses and the topic for your Master's thesis in view of your interests and career goals. An internship is a good chance to acquire work experience in your area of interest.

Internationalization

The atmosphere at the Helsinki Centre of Economic Research (HECER) is quite international, consisting of the Discipline of Economics and the departments of economics at Aalto University and the Hanken School of Economics. The staff regularly publish in international journals and collaborate with foreign researchers. There are also several regular research seminars on a number of fields, where mostly foreign visitors present their work. In addition, foreign researchers often pay longer visits to the HECER, and a large proportion of the graduate students come from abroad.

All courses in the programme are taught in English, and a large proportion of Master's theses are written in English. The staff have ample experience at universities abroad, and there are several foreigners among them. Foreign graduate students act as teaching assistants, and exchange students from the universities involved in the HECER regularly take the courses of the programme. You can include study units in foreign languages arranged by the Language Centre in the optional studies.

The degree requirements meet internationally unified standards in economics. The University of Helsinki has a number of agreements with foreign universities that enable you to visit them to gain international experience and take courses offered there. Courses taken at the master's level at universities abroad can replace field courses in economics in the degree requirements, and you can include other university-level courses in your optional studies. The most suitable time for a visit to a foreign university is in the spring semester of your first year of study after completing the core courses in economic theory and econometrics. You can also include an internship abroad as part of your studies.

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