Master's in Responsible Economics and Finance

Responsible Economics and Finance is a two-year international Master’s programme offered by the accredited Oulu Business School. It provides training in modern economics with a special focus on responsibility in economic and financial analyses.

Students are provided with a comprehensive understanding of the relationship between sustainability and financial, real estate and energy markets.

Responsible Economics and Finance

Degree title

Master of Science (Economics and Business Administration)

Study places


Duration of studies

2 years


120 credits

Teaching method

On campus

Next application period

8-22 January 2025

Programme profile

Top reasons to study Responsible Economics and Finance

  • An internationally comparable master's degree in Economics and Business Administration from an AACSB accredited business school that enables you to apply for work within the EU and globally.
  • Students are provided with the necessary knowledge and skills to navigate the complex economic and environmental challenges of the 21st century both at the global and regional levels.
  • Build your unique graduate profile with a master's thesis on responsibility issues – choose your topic from the Oulu Business School’s wide range of research areas.
  • Get hands-on experience in developing economic models and using modern quantitative methods to perform economic and financial analysis for the requirements of present-day society and businesses.
  • Graduates from the programme have high employability and diverse career opportunities in domestic and international firms and organizations.

Study Responsible Economics at the Oulu Business School

The Responsible Economics and Finance (REF) programme offers a thorough mastering of solutions to real-world economic and financial problems originating from the issues related to climate change, biodiversity loss, and efficient integration of renewable energy and other resources into the economic system, both locally and globally. In addition, the resilience of complex adaptive systems and the challenges of welfare measurement are cutting through themes.

The programme equips its students with the necessary skills to analyse and interpret empirical models and data related to the above-mentioned themes and prepares students to work in a variety of sectors, including financial and energy markets, real estate, banks, governments, and non-governmental organizations.

Economics at the Oulu Business School (OBS) has a wide portfolio of research projects, which provides you with insights on current issues in energy and environmental economics, regional and real estate economics, international macroeconomics and finance, and health and social economics.

OBS organizes frequent seminars with Finnish and international visitors from business and academia, and students are strongly encouraged to attend these events.

Core skills and competence

In this master’s programme, students gain essential skills to address global challenges. The core courses of the curriculum will cover foundations of:

  • Economics and finance
  • Responsibility/resilience issues
  • Banking
  • Environmental economics
  • Energy and real estate markets
  • Macro-financial analysis.

Students learn optimal resource utilisation and adaptability. More specifically, the financial markets theme deepens understanding on, for example, responsible banking and forms of alternative finance.

The theme of real estate markets explores sustainability, including green buildings and urban planning, whereas energy market and environmental analyses are especially related to the questions on environmental valuation, the economic principles of pollution control and policy instruments and economic analysis of incentives, consumer’s role and regulation for sustainable energy system.

Finally, the macroeconomic theme examines responsible policy actions related to business cycle fluctuations and economic growth, connecting them to well-functioning financial, energy, commodity, and real estate markets both at regional and global levels.

You are a great fit for our programme if

The ideal applicant for the Master’s in Responsible Economics and Finance is:

  • intellectually curious, with a robust background in economics, keen analytical acumen, and a passion for sustainability.
  • ethically driven, globally minded, and committed to addressing the pressing economic challenges of our times.
  • research-focused and articulate, you thrive in collaborative environments and aspire to lead in sectors where economic responsibility is paramount.
  • Your career trajectory is aligned with innovative solutions in financial, energy, and real estate markets, underpinned by a dedication to responsible practices and sustainable development.

Programme structure and courses

Studying in the REF programme includes group work and projects, through which you will learn to apply the tools you have learned for different types of tasks. In addition, you acquire the requisite skills to succeed in an economist’s career. These include solving many types of economic problems, managing projects, and giving professional presentations. Elective courses allow you to tailor your degree towards your individual interests and career goals.

For detailed information about courses and the programme structure, look at the study guide:
See study guide for Economics programme structure and courses

Career opportunities

The programme equips graduates with the skills they need as professional economists working in business, government, international organizations, and research centers. After graduation, they will be competent in analysing the role of responsibility in connection to financial, energy and real estate markets, emphasising sustainable development, climate change, and resource management.

Depending on their interests, they can for example work with market research in the financial sector, in private firms, and with fiscal and monetary policy within the public sector. The programme also serves as thorough preparation for doctoral studies.

Possible job titles for our newly graduates include:

  • Economist
  • Policy Advisor
  • Industry Analyst
  • Financial Analyst
  • Data Analyst
  • Economic Development Officer
  • Economic Consultant
  • Business Reporter.

Welcome to Oulu Business School

Economics has been taught at the University of Oulu since the founding of the university making it an established study and research field of the AACSB accredited Oulu Business School.