Programme director: Heidi Falkenbach

The Master’s Programme in Real Estate Economics offers students a thorough education in the field with a focus on economics, law and management of real estate. The programme gives students a profound knowledge of the dynamics of real estate markets. Student will attain a holistic understanding of the phenomena related to real estate markets, and learn techniques used for the analysis and management of real estate.

The programme combines the scientific disciplines of economics, management, land management and planning to provide students with the key skills needed in the wide range of careers in the real estate sector.

Courses within the programme cover the skills and knowledge required to manage real estate throughout its life cycle. All students in real estate economics will be introduced to various valuation methods, factors that affect the value formation of real estate and the management of real estate assets. All students will also increase their knowledge on institutions relevant to real estate, such land management system, environmental legislation and the planning system, and their role in real estate markets.

In the advanced studies, the students can deepen their knowledge in several, more focused areas of real estate economics by choosing courses in e.g. real estate finance, development, business and entrepreneurship, law and land management. By completing these studies, the students enrich their understanding of the management of real estate throughout their lifecycle and of the use and development of land resources.

The programme combines theoretical knowledge with real life projects and business cases, providing the students possibilities to gain hands-on experience and understanding of the complexity of the subjects. The programme applies versatile pedagogic methods to increase the student’s professional skills in e.g. team working and in the analysis of real life phenomena through theoretical frameworks.

Common studies (compulsory courses for all students, 36 cr)

Advanced studies (select 24 cr from courses below, note prerequisites)

REC-E4040 course should be placed in your free elective studies module (see below):

The master’s thesis is written on a topic related to the advanced studies of the degree programme.

The topic and the language of the master’s thesis are approved by the school upon application by the student; the school also appoints a thesis supervisor and one or two thesis advisors for it. The master’s thesis supervisor shall be one of the professors of Aalto University. 
The topic of the master’s thesis remains valid for one year.

The master's thesis includes a presentation and maturity test. 

Further instructions on the master’s thesis and the related process from Master's thesis.  

Elective studies

For your free elective studies module you can study courses offered by Aalto University or by other universities as it is possible by Aalto internal and inter institutional agreements and procedures and course specific prerequisites.
   
The structure of your Master’s Programme is designed so that you are able to study your major studies i.e. common and advanced courses during the first year. This leaves the second year for elective courses and Master’s thesis. It also makes it easy for you to go for student exchange during the second year.
Alternatively, you can deepen your expertise by taking more of our advanced courses as elective courses, or broaden your expertise by choosing courses from Aalto’s other programmes or from different universities.
The choice for elective studies is yours: the most important thing is that your elective studies complement your major studies, and provide you with expertise that you personally feel important and inspiring for your career.  
Please note that the total number of credits for a master's degree (major studies, elective studies and master's thesis) may not exceed 125 cr.

You can complete a minor subject and include it in elective studies. Please note that if you want to have a minor it needs to be master level minor. Please see the list of all minors offered by Aalto University under Minors.  

You can also include max 5 credits of practical training (ENG-E1010 Practical training) in your elective studies.  You can find information on practical training  on this page.
REC-E4040 Special Course on Land Management course should be placed in electives studies. 

Requirements of language studies

Language studies (min 3 cr) are a compulsory part of the Master’s degree (elective studies module) if they have not been completed as part of the Bachelor’s degree.
For international students, Finnish and Swedish language courses are highly recommended for elective studies.

According to Government Decree on University Degrees (794/2004), student shall demonstrate proficiency in Finnish and Swedish language that is required of central government staff in bilingual public organisations under subsection 1 of section 6 of the Act on the Knowledge of Languages Required of Personnel in Public Bodies (424/2003) andt hat is necessary for their own field; and proficiency in at least one foreign language that enablesstudents to monitor progress in their own field and operate in an international setting.

Students with Finnish Bachelor's degree

Compulsory language studies are included as part of the Finnish Bachelor’s degree for students who have studied in Finland and whose language of education is Finnish or Swedish. If the language studies have not been completed in the student’s Bachelor’s degree, the student must take 2 ECTS in the second national language and 3 ECTS in one foreign language, including both oral and written proficiency.

Other students

Students who have received their education in a language other than Finnish or Swedish, or received their education abroad, are required to complete 3 ECTS in one foreign language, including both oral and written proficiency. Relevant courses (marked with ‘o’ and ‘w’) are offered by the Aalto University Language Center.
Students who have received their education abroad and who already have excellent command of English (e.g. English as their first language) may choose 3 credits of Finnish or Swedish (basic level) courses instead, hence not covering the requirement of oral/written proficiency but meeting the language requirement of the degree.

Language studies are included in students’ elective studies and are agreed in the personal study plan (HOPS).

Please find more information about language courses and information about learning languages from the Language Centre of Aalto University.

Academic years 2022-2023, 2023-2024

Academic years 2020-2021, 2021-2022

Academic years 2018-2019, 2019-2020