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Masters Degrees in Economics, Finland

We have 4 Masters Degrees in Economics, Finland

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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.


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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Application period/deadline. November 1, 2017 - January 24, 2018. An internationally comparable degree in Economics from an AASCB accredited business school. Read more

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:

• Economist

• 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).

For all enquiries, please refer to our enquiry form: http://www.oulu.fi/university/admissions-contact

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