The aim of the master’s programme in economics is to give students a wide understanding of economic issues and a comprehensive knowledge of econometric and mathematical tools of analysis. When studying in the programme, the students will develop the following skills:
- analytical thinking: the ability to analyse a wide range of economic phenomena by using different theories;
- scientific thinking: the ability to apply the economic theory in practice;
- methodological skills: the ability to use econometric and mathematical methods; and
- communication skills: the ability to structure and report economic analysis orally and in writing.
Core programme studies 84 cr
Compulsory studies 54 cr
1) Enrollment to the seminar held in autumn semester by 31.5. (in the previous spring) and to the seminar held in spring semester by 31.10. (in the previous autumn).
Economics MSc Thesis Information: aalto-econ.fi/gradu/
It is recommended that students who wish to continue to doctoral studies choose a wider combination of courses in micro- and macroeconomic theory than the minimum requirements. It is also possible to choose the Research Master in Economics major from the beginning of the master's studies.
Elective studies 30 cr
Choose at least 30 credits of elective studies.
Students can also complete advanced courses of economics offered by the University of Helsinki and Hanken School of Economics within the Helsinki GSE cooperation. The courses available from all of the three universities are listed below:
Aalto University 2022-2024
1) Customized Student Business Project must be agreed in advance, see course description in Sisu for more details. Only for Aalto students.
At the consent of the programme director it is possible to include 1-2 courses offered by other subjects at the School of Business or by other schools of the Aalto University. This enables the student to focus on a certain area of economics, e.g. financial economics. These courses must meet the goals and requirements of the programme. For more information, you can contact the planning officer of Economics.
Advanced courses in University of Helsinki and Hanken School of Economics
Within the Helsinki GSE cooperation the students can also complete advanced courses of economics offered by the University of Helsinki and Hanken School of Economics.
To take courses at the other two universities, you must apply study rights for the courses and fill in a study right application form at https://www.helsinkigse.fi/studies/enrollment
Please note that the teaching periods may differ in different universities.
More information about Helsinki GSE studies
Hanken School of Economics 2022-2024
Course name and code |
ECTS credits |
Teaching period 22-23 |
Teaching period 23-24 |
Behavioral Economics (26037) |
5 cr |
II |
I |
Competition Economics (26033) |
5 cr |
IV |
IV |
Economics of new ventures and innovations (26043) |
5 cr |
I |
I |
Empirical Industrial Economics (26041) |
5 cr |
II |
no teaching |
Markets and industrial organization (26044) |
5 cr |
IV |
II |
Money and Banking (26035) |
5 cr |
|
I |
University of Helsinki 2022-2024
Master’s Programme in Economics
Course name and code |
ECTS credits |
Teaching period 22-23 |
Teaching period 23-24 |
Applied Macroeconometrics 1 (ECOM-411) |
5 cr |
IV |
IV |
Applied Macroeconometrics 2 (ECOM-412) |
5 cr |
I |
I |
Applied Macroeconomics (ECOM-410) |
5 cr |
I |
I |
Contract Theory (ECOM-419) |
5 cr |
III |
no teaching |
Econometrics 1 (ECOM-G314) |
5 cr |
II |
II |
Economic Justice (ECOM-452) |
5 cr |
- |
IV |
Experimental Economics (ECOM-448) |
5 cr |
- |
IV |
Health Economics (ECOM-447) |
5 cr |
I |
no teaching |
Macroeconomics 1 (ECOM-G312) |
5 cr |
I |
I |
Macroeconomics 2 (ECOM-G313) |
5 cr |
II |
II |
Microeconomics 1 (ECOM-G310) |
5 cr |
I |
I |
Microecoomics 2 (ECOM-G311) |
5 cr |
II |
II |
Money and Monetary Policy (ECOM-434) |
5 cr |
III |
III |
Political Economy of Development (ECOM-449) |
5 cr |
III |
III |
Public Economics 1: Taxation Policy (ECOM-440) |
5 cr |
III |
III |
Public Economics 2: Expenditure Policies (ECOM-441) |
5 cr |
- |
IV |
Search Theory (ECOM-438) |
5 cr |
IV |
|
Master’s program in Agricultural, Environmental and Resource Economics (AGERE)
Course name and code |
ECTS credits |
Teaching period 22-23 |
Teaching period 23-24 |
Advanced Natural Resource Economics (AGERE-E09) |
5 cr |
IV |
IV |
Cost-Benefit analysis MOOC (AGERE-002) |
5 cr |
IV |
IV |
Economic Valuation Methods (AGERE-003) |
5 cr |
II |
II |
Economics of Aquatic Resources: Numerical Models (AGERE-E06) |
5 cr |
I |
I |
Environmental Economics I: Theory (AGERE-E01) |
5 cr |
II |
II |
Environmental Economics II: Mechanisms (AGERE-E02) |
5 cr |
III |
III |
General Equilibrium Modelling (AGERE-004) |
5 cr |
|
IV |
Introduction to Dynamic Optimization (AGERE-E08) |
5 cr |
III |
III |
Solving environmental problems with data (AGERE-E11) |
5 cr |
- |
IV |
Changing theme course in Agricultural economics (AGERE-A07a) |
5 cr |
IV |
no teaching |
Students aiming at the Doctoral Programme or jobs that require advanced methodological skills can apply for the major Research Master in Economics. Research master courses are arranged within the Helsinki Graduate School of Economics cooperation.
Economics students who wish to complete Research Master in Economics must apply for the major. The application period is once a year in the Spring.
To be eligible for the major, student should have a grade point average of at least 4.00 in the core B.Sc. courses, i.e. Intermediate Microeconomics, Intermediate Macroeconomics, Econometrics and Mathematical Methods of Economics. For students from other programs, previous studies must prove sufficient knowledge in economics, mathematics and statistics. To be eligible for the major student's study right must also be valid for at least two years. Student can start completing the research master courses only after the approval of the programme director.
Research Master info for Economics students at Aalto, Spring 2022
Core programme studies 84 cr
Compulsory studies 39 cr
1) Enrollment to the seminar held in autumn semester by 31.5. (in the previous spring) and to the seminar held in spring semester by 31.10. (in the previous autumn). See further information at http://aalto-econ.fi/gradu/
2) The Math Camp is held 14.8-25.8.2023
Helsinki Graduate School of Economics, Research Master courses 45 credits
The research master courses are arranged within the Helsinki Graduate School of Economics cooperation. The course details are given on the course host university’s (Aalto University, Hanken School of Economics or University of Helsinki) Sisu page. The research master track courses (Advanced Econometrics, Advanced Macroeconomics and Advanced Microeconomics) are listed on Helsinki GSE website at: https://www.helsinkigse.fi/courses/
Compulsory studies 30 cr
Code |
Course name |
ECTS credits |
Teaching period |
University |
ECON-L2100 |
Advanced Microeconomics 1 |
5 op |
I |
Hanken |
ECON-L2200 |
Advanced Microeconomics 2 |
5 op |
II |
Aalto |
ECON-L3100 |
Advanced Macroeconomics 1 |
5 op |
I |
HY |
ECON-L3200 |
Advanced Macroeconomics 2 |
5 op |
II |
HY |
ECON-L4100 |
Advanced Econometrics 1 |
5 op |
I |
HY |
ECON-L4200 |
Advanced Econometrics 2 |
5 op |
II |
HY |
Elective studies 15 cr
Choose 3 courses from the following:
Code |
Course name |
ECTS credits |
Teaching period |
University |
ECON-L2300 |
Advanced Microeconomics 3 |
5 op |
III |
Aalto |
ECON-L2400 |
Advanced Microeconomics 4 |
5 op |
IV |
Aalto |
ECON-L3300 |
Advanced Macroeconomics 3 |
5 op |
III |
HY |
ECON-L3400 |
Advanced Macroeconomics 4 |
5 op |
IV |
HY |
ECON-L4300 |
Advanced Econometrics 3 |
5 op |
III |
HY |
ECON-L4400 |
Advanced Econometrics 4 |
5 op |
IV |
Aalto |