Studies at University of Oulu 2013-2014

The University of Oulu offers study opportunities with a solid academic foundation ranging from 5-6 year degree programmes and master’s programmes to doctoral training. There are also several possibilities such as open university studies, executive training and continuing education for developing and maintaining skills and competencies.

In addition to a variety of student exchange programmes, international master’s degree programmes in English are offered in six fields of study, making the university an international study environment.

5-6 Year Degree Programmes

BSc (Econ. & Bus. Adm.) in Economics or Finance

Profile of the Degree: 

Major studies in economics offer students a strong theoretical and methodological knowledge in Economics. Students also have the possibility to specialize in several fields of economics; e.g. growth and income distribution, environmental and natural resources economics and energy economics. In addition, students in the University of Oulu can choose strong minors to complement their major in economics. These include finance, accounting, statistics and mathematics. The learning process in economics is based on a cumulative increase of understanding about the economic processes. Lots of exercises and writing of term papers are included in lecture series.

Major studies in finance provide students with a firm foundation in the theoretical and empirical tools of modern finance. Topics covered include asset pricing, corporate finance, portfolio management and risk management. The programme provides students with the knowledge and skills required to work in managerial and executive positions in the financial sector, and gives a solid basis for further academic studies at the graduate level.

Courses Required for the Degree: 

Degree structure:

Compulsory studies 62 ECTS
Basic studies in major subject 25 ECTS
Intermediate studies in major subject 35 ECTS
Minor studies 50-60 ECTS
Possibly other studies in order for the total ECTS credits to equal 180

Total: 180 ECTS

Learning Outcomes: 

General Learning Outcomes

  • Analytical thinking and problem solving - our graduates will demonstrate analytical thinking skills by applying appropriate concepts and methods to solve business problems
  • Business knowledge - our graduates demonstrate knowledge of business processes and key functions of organizations
  • Interdisciplinary business knowledge - our graduates have knowledge across business disciplines
  • Global knowledge in a local context - our graduates understand fundamentals of global business processes and their implications in a local context
  • Communication skills - our graduates demonstrate oral and written communication skills appropriate for business situations.

After completing the bachelor’s degree in the degree programme in economics, the student 

  • recognizes and is able to interpret the economic cause and effect relationships
  • can choose and apply analytical basic methods of economics
  • recognizes and is able to use the basic concepts in economics
  • is able to acquire information from national and international economic literature and evaluate the information

After completing the bachelor’s degree in economics major, the student 

  • is able to analyze economic processes and causes and effects between economic variables
  • is able to write and comment economic phenomena using economic thinking
  • can choose, use, and apply the basis of mathematical modeling and econometric principles in economic problem solving
  • can define and use basic concepts of some special field in economics
  • can interpret economic news and evaluate the motives, behavioral principles and constraints of economic agents behind the news
  • is able to write a scientific report using research literature and present the report taking the audience into account

After completing the bachelor’s degree in finance major, the student is able to

  • describe the fundamental concepts and theories in finance
  • define and explain the efficient market hypothesis and its implications
  • identify and explain the basic principles of corporate finance, portfolio management and risk management
  • explain and apply the principles of asset valuation
  • choose and apply basic quantitative methods in finance
  • carry out small-scale programming (Excel, R-language, SAS)
  • write a research report based on existing theory and empirical literature in the field
Arrangements for Recognition of Prior Learning: 
Modes of Study: 

The student studies full-time, corresponding to 60 ECTS credits per year. This equals to 1600 hours of student workload per year. The full degree (180 ECTS credits) can be completed in three years, studying full-time. The studies are carried out as contact teaching.

Language of Instruction: 

Economics major: Finnish (exams can be taken also in English)
Finance major: English (basic level courses are taught also in Finnish)

Examination Regulations, Assessment and Grading: 

The degree-related studies can be completed based on the curriculum. This means that the student studies the basic studies, intermediate studies and elective studies the curriculum contains, in accordance with the curriculum. The study units are primarily completed by attending examinations and with written assignments and they are assessed by the person responsible for the study unit. The assessment is often based on the grades of final exams and/or term papers. Also other assessment criteria are used. Study unit descriptions give more exact information on the assessment of study units. Bachelor’s thesis shall be written as the final work in the degree. A Personal Study Plan PSP is compiled for each student, considering student’s prior learning.

Grading: (The University of Oulu Education Regulations 17§): a numerical scale 0-5 in whole numbers or verbal grading Pass or Fail is used in assessing a completed course. In numerical scale zero stands for fail.

In determining the final grade for a study module, a credit-weighted average is utilized. Separate provisions have been laid down for assessing the proficiency in Finnish and Swedish language required in accordance with the Government Decree on University Degrees (794/2004).

Occupational Profiles of Graduates: 

Economics major: economist
Finance major: managerial and executive positions in private, public and third sector organizations

Access to Further Studies: 

After completing Bachelor of Science degree in Economics and Business Administration the student is eligible to apply for Master’s level studies.

Graduation Requirements: 

In order to graduate, the student is required to have passed all the courses included in the degree, to have completed the Bachelor's thesis and the maturity test in acceptable manner and to have handed out the degree certificate request according to the Oulu Business School graduation timetable.

In addition, the student must show the required level of Finnish and Swedish language skills according to Act (424/2003, section 6, subsection 1) and the required level of knowledge in one foreign language to be able to follow the field specific development and work in an international environment (Government Decree on University Degrees 794/2004, Language Proficiency Section 6).

Qualification Requirements and Regulations: 

All education in the University of Oulu is based on the principles of the joint European credit transfer system (ECTS) which facilitates the transparency of education and the recognition of degrees at an international level. All degrees awarded from the University of Oulu are recognised by the Finnish Ministry of Education and Culture.

The Bachelor’s degree qualifies the student to complete a Master’s degree. The language proficiency requirements of the degree qualify the student for employment in the civil service according to the section on language proficiency, 6 §. Government Decree on University Degrees 794/2004, Language Proficiency Section 6 (Bachelor level)

Government Decree on University Degrees 794/2004, Language Proficiency Section 6: Language proficiency

1. The student must demonstrate in studies included in education for a lower or higher University degree or otherwise that he/she has attained:

(1) proficiency in Finnish and Swedish which is required of civil servants in bilingual public agencies and organizations under Section 6(1) of the Act on the Knowledge of Languages Required of Personnel in Public Bodies (424/2003) and which is necessary for their field; and

(2) skills in at least one foreign language needed to follow developments in the field and to operate in an international environment.

2. The provisions of subsection 1 do not concern a student who has been educated in a language other than Finnish or Swedish or a student who has been educated abroad. The language proficiency of such students shall be determined by the university.

3. For special reasons, the university may either totally or partially exempt a student from the requisite language skills referred to in subsection 1.

Basic information

Level of the Degree: 
Bachelor's Degree
Duration of Studies: 
3 years
ECTS Credits: 
Language of Instruction: 
Location of Instruction: 
+358 (0)294 482919
jukka.perttunen (at)


Applying Information: 
The degree programme is applied for through the joint application system at, the applicant must select either Economics or Finance. The language of instruction in the degree programme is Finnish. Read more detailed information about admission requirements and applying from The Applicant’s Guide 2013.