Economics

Programme Focus

Economics forms the basis for a general and systematic understanding of economic transactions in society. The subject builds on a logically consistent structure, which relies on rational criteria for decision making. While practical knowledge related to some specific profession remains useful in helping you enter the job market, you will need more general knowledge to allow you to adapt when developments in technology make old tasks obsolete.

The Master's Programme in Economics offers you a balanced mix of broad perspective and deep insights into economic theory together with practical training in using economic data, and in communicating your findings. Economics offers perspectives on essential features of all types of markets ranging from local retailers to global currency markets.

The Department of Economics at Hanken School of Economics is located together with the economics departments of University of Helsinki and Aalto University. The Helsinki Center of Economic Research facilitates (HECER) close cooperation across the boundaries of these three universities both in research and teaching.

The Master's Programme in Economics is designed to meet high international standards comparable with programmes in economics offered at other leading business schools. The programme is implemented in close cooperation between the three partners of HECER, which gives the capacity to offer an extensive spectrum of high-quality courses. The Master's Programme consists of compulsory core courses in microeconomics, macroeconomics and econometrics as well as specialized courses in important fields of economics.

The faculty at the Department of Economics at Hanken School of Economics is closely connected to the international research community, experienced in terms of teaching and prominent in private and public service also outside the academic world. The faculty has a particularly strong academic background in industrial economics, financial economics and labour economics.

The economics graduates have performed prominently well in a wide spectrum of careers that require economic expertise and analytical skills. Examples include careers as expert economists, analysts, specialists and consultants in private firms in industry, in the financial sector, in research institutes, in public administration and in international organizations. The Master's Programme also gives a solid background for doctoral studies in economics.

A student perspective on the Economics programme

Programme Structure

The Master's Degree Programme in Economics is designed to meet high international standards comparable with programmes in economics offered at other leading business schools. The programme is implemented in close cooperation between the three partners of HECER, which gives the capacity to offer an extensive spectrum of high-quality courses.

The two-year Master's Degree Programme in Economics, totaling in 120 ECTS credits, consists of the following components:

1. Core Courses (24 ECTS credits)
2. Programme-Specific Studies (24 ECTS credits)
3. Thesis and Research Seminar (42 ECTS credits)
4. Elective Courses (30 ECTS credits)

Core Courses (6 ECTS credits each):

• Microeconomics I: Basics
• Microeconomics II: Game Theory
• Macroeconomics I: Growth and cycles
• Macroeconomics II: Short term fluctuations
• Econometrics I
• Econometrics II

The student should select four core courses. The selection should cover one course in microeconomics, one course in macroeconomics and one course in econometrics.

Programme-Specific Courses (24 ECTS credits)

The following field courses are required as Programme-Specific Studies (6 ECTS credits each):

• Banking and Finance
• Industrial Organization
• Competition Policy

In addition the student can select one Programme-Specific field course among the following annually organized courses (6 ECTS credits each):

• International Economics
• Labor Economics
• Macroeconomics of Labor Markets
• Applied Econometrics
• Development Economics I
• Development Economics II

Thesis and Research Seminar (42 ECTS credits)

Students are required to write a Master's thesis (30 ECTS credits) as well as to participate in a research seminar series (12 ECTS credits).

Elective Courses (30 ECTS credits)

Students have to complete 6 ECTS credits in language studies. Apart from that the elective courses can be selected among core courses in economics, among field courses in economics or among courses offered in other subjects such as, for example, finance, business administration, accounting, statistics or mathematics.

The following courses in economics (6 ECTS credits each) are not offered annually. But, if these courses are offered they can be selected as elective courses. Public Economics, Globalization and Growth, Money and Monetary Policy, Empirical Macroeconomics, Macroeconometrics, Financial Econometrics, Environmental Resource and Energy, Advanced Economic Theory, Market Design, and Contracts.

Faculty and Partners

Who we are:

The faculty at the Department of Economics at Hanken School of Economics is closely connected to the international research community, experienced in terms of teaching and prominent in private and public service also outside the academic world. The faculty consists of five professors. The faculty has a particularly strong academic background in industrial economics, financial economics and labour economics.

Our teaching faculty consists of

• Professor Rune Stenbacka
• Professor Tom Berglund
• Associate Professor Staffan Ringbom
• Associate Professor Mikael Juselius (Vasa Campus)
  
• Assistant Professor Topi Miettinen
• Secretary Helen Malmsten

In addition we regularaly invite distinguished faculty for teaching assignments.

Career Paths

The economics graduates have performed prominently well in a wide spectrum of careers that require economic expertise and analytical skills. Examples include careers as expert economists, analysts, specialists and consultants in private firms in industry, in the financial sector, in research institutes, in public administration and in international organizations. The Master's Programme also gives a solid background for doctoral studies in economics.

As a student at Hanken you will also have the opportunity take full advantage of the services provided by our Career and Recruitment Services, Ekonomforum . Ekonoforum gives you assistance when you are looking for an internship or need career guidance. Through Ekonomforum you can also get involved in Hanken's mentorship programme.

Application and Further Information

For full details on the application process and admission requirements please go to: www.hanken.fi/admissions