Economics – (M.Sc.)

Contents

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.

Accreditation

Hanken was awarded the EQUIS accreditation in 2000. The accreditation was renewed in 2005 and 2008. The Hanken MBA was awarded the AMBA accreditation in 2008. The accreditation was awarded for five year, which is the maximum length.

Funding details

Since university education in Finland is funded by the State through the Ministry of Education and Culture, students enrolled in a regular degree programme at Hanken pay no tuition fees. The students must however pay an annual student union membership fee of approximately EUR 100.

Applicants must ensure that they have adequate funds to support themselves financially throughout their entire period of study in Finland. International students who cannot show proof of sufficient funds for living expenses during their period of study in Finland will not obtain a residence permit. Full-time foreign degree students can work up to twenty hours a week during the academic year and full time during vacation periods. The right to work is unrestricted for EU-citizens. However, it might prove very difficult to find a suitable job and the unemployment figures in Finland are quite high. Most employers also demand knowledge of Finnish and/or Swedish. Accepted students should therefore not plan to obtain part-time work, scholarships, fellowships or other financial assistance upon arrival in Finland.

Hanken International Master's Student Scholarship

Hanken offers a limited number of scholarships for international master's degree students. The scholarship amount is EUR 6000 per year for two years (EUR 12 000 in total). In order to be eligible for a scholarship, an applicant has to fulfill all of the following criteria:

• the applicant should have foreign (non-Finnish) citizenship
• the applicant's permanent residence should be outside Finland at the time of application
• the applicant's previous degree should be from a non-Finnish higher education institution (applicants currently studying at a Finnish higher education institution are not eligible for a scholarship)
• the applicant should move to Finland in order to study at Hanken
• the applicant should not be entiteld to student financial aid through the Social Insurance Institution of Finland (KELA)

The scholarship application is submitted at the same time as the application for admission to the chosen Master's Degree Programme at Hanken. There will be a specific question regarding the scholarship on the application form and therefore no separate application is needed.

The scholarship is paid in four installments of EUR 1500 during the first year and in two installments of EUR 3000 during the second year. In order to recieve the first installment the student must have completed at least 6 credits after the first exam week. The second installment is paid if the student has completed at least 22 credits in total after the second exam week. The third installment is paid after the third exam week if the student has completed at least 36 credits in total and the fourth installment after the fourth exam week if the student has completed at least 52 credits in total.

The first installment of the second year is paid after the second exam week if the student has completed at least 78 credits in total. The final installment will be paid if the student has completed his or her master's degree by the first graduation day of the following academic year.

Scholarships are awarded in order of merit and the selection criteria are the same as for admission to the Master's Degree Programmes (academic performance, GMAT/GRE test score and motivation). Scholarship applicants will be notified about the outcome of the selection at the same time as the admission results are released. Scholarship recipients will receive more detailed information with their admission package.