Application period/deadline: November 1, 2017 - January 24, 2018
• An internationally comparable degree in Economics from an AASCB accredited business school
• Rigorous theoretical and empirical studies incorporating the latest research
• Hands-on experience in developing economic models and using econometric methods to perform economic and financial analysis
Oulu Business School’s International Master’s Programme in Economics (ME) is a two-year programme providing rigorous training in modern Economics. The programme equips you with a comprehensive understanding of the theoretical and empirical research methods used in Microeconomics, Macroeconomics, and Econometrics. You will have the opportunity to develop an interest in fields such as:
• Mathematical economics
• Industrial organisation
• Energy economics
• Urban and regional economics
• Environmental economics
• International macroeconomics
• Game theory
• Financial econometrics
Through group work and projects, you will learn to apply your economic expertise and acquire the problem solving, project management and presentation skills you will need in your career as an economist.
It is not compulsory to choose a specialization, but the two-year programme offers two specialisation options:
Energy Economics and Smart Grid courses bring the latest economic and technical energy research into the classroom and equip you with the skills you need to work as an economic researcher or consultant in energy related projects. Gain experience in multidisciplinary project work and employ your skills in Economics to analyse and solve business problems in tomorrow’s energy markets.
Financial Economics focuses on equipping you with skills that are relevant for an economist working within the financial sector. You will gain further knowledge of statistical modelling software and intensify your knowledge of econometric models used for forecasting macroeconomic and financial variables.
The professorship for Economics at the University of Oulu was established in 1959 and the department is a part the AASCB accredited Oulu Business School (OBS). Economists at OBS and at associated research centres (MAIGBE, SYKE) focus on research in Energy Economics, Social Economics, and Regional Economics. The department is renowned for its achievements in input-output modelling and Energy Economics. Current faculty members are active, among others, in the Finnish Economic Policy Council, the Finnish Climate Panel and the national BCDC energy research project. OBS organizes frequent seminars with Finnish and international visitors from business and academia. You are strongly encouraged to attend these events.
The master’s programme equips you with the skills you need as a professional economist working in business, government, international organizations, and research centres. Depending on your interests, you can, for example, work with market research in the financial sector, with strategic pricing and production decisions in private firms, and with fiscal and monetary policy within the public sector. The master’s programme also serves as thorough preparation for Ph.D. studies. The master’s programme provides you with an internationally comparable degree in Economics from an AASCB accredited business school. Upon completion of the master’s programme, you will be equipped to pursue a career as an economist in Finland or abroad.
Possible titles include:
• Economic Advisor
• Investment Advisor
• Industry Analyst
• Financial Analyst
• Economic Development Officer
• Economic Consultant
Students applying for the programme must possess an undergraduate or bachelor’s degree in Economics or a related subject. The quantitative nature of the ME programme ideally suits for those who have studied Economics, Finance, Accounting, Engineering, or Natural Sciences (e.g. Mathematics, Physics or Statistics).
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:
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.
Further information about the studies on the Master's programme website.
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. 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.