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

MSc (Econ. & Bus. Adm.) in Economics

Profile of the Degree: 

The Oulu Business School Master's programme in economics offers 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. An economics major can use the title economist. Job markets for economists are typically broad.

Courses Required for the Degree: 

Degree structure:

Advanced studies in major subject 60 ECTS
Minor studies 60 ECTS

Total: 120 ECTS

Learning Outcomes: 

General Learning Outcomes

  • Analytical thinking and problem solving - students are able to solve business and/or economic problems and make business decisions
  • Business knowledge - our graduates demonstrate in-depth understanding of their own profession, and are able to use, process and analyze economic and/or business information
  • Interdisciplinary knowledge - our graduates are capable of integrating knowledge across business and other scientific disciplines in solving business/economic issues.
  • Global knowledge in business - our graduates are able to manage business activities in a global environment
  • Communication skills - our graduates demonstrate professional oral and written communication knowledge and skills appropriate for business situations

After completing the Master of Science (Econ. & Bus. Adm.)  degree in economics, the student

  • can choose and apply economic theories
  • can use and evaluate the newest scientific research and scientific tendencies in their own work
  • can use necessary quantitative methods in independent research
  • can give expert statements in their field of expertise
  • recognizes the traditional and new approaches in economics and can interpret their empirical applications
  • can interpret the economic processes and causes and effects of economic relationships and compare the characteristics and applicability of economic models in different situations
  • can write about and discuss economic phenomena applying economic thinking
  • is able to do independent research work and write and present research reports showing expertise in some field of economics
  • can apply economic theories in practical decision making and is able to give well-founded expert statements in his/her own field of expertise
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 (120 ECTS credits) can be completed in two years, studying full-time. The studies are carried out as contact teaching.

Language of Instruction: 

Lectures in Finnish, exams can be taken also in English. Literature mainly in English.

Examination Regulations, Assessment and Grading: 

The degree-related studies can be completed based on the curriculum. This means that the student studies the advanced 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 term papers. Also other assessment criteria are used. Study unit descriptions give more exact information on the assessment of study units. Master’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. When assessing doctoral dissertations and licentiate’s theses, verbal grading kiittäen hyväksytty (Approved with Distinction), hyväksytty (Approved) tai hylätty (Rejected) can be used. In numerical scale zero stands for fail.

In determining the final grade for a study module, a credit-weighted average is utilized. The grades of Pro Gradu Theses and Diploma Theses shall not be considered when determining the average of advanced studies.  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: 

Economist. The job markets for economists are typically broad. The occupational profiles of graduates include demanding specialist and executive positions as well as research and teaching positions in corporations, governmental agencies or third sector organizations, amongst others.

Access to Further Studies: 

After completing Master of Science degree in Economics and Business Administration the student is eligible to apply for Doctoral 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 Master’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 degree provides qualification to use the honorary Finnish title of “ekonomi”. The degree provides language proficiency required of personnel in public bodies in Finland, in accordance with the Language Proficiency Section 6:

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: 
Master's Degree
Duration of Studies: 
2 years
ECTS Credits: 
Language of Instruction: 
Graduate Profiles: 
Location of Instruction: 
+358 (0)294 482912
rauli.svento (at)


Applying Information: 
The degree is part of a five-year degree programme which is applied for through the joint application system at The main language of instruction in the degree programme is Finnish. Read more detailed information about admission requirements and applying from The Applicant’s Guide 2013.