Studies at University of Oulu 2016-2017

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.

International Master's Programmes

Finance, Master of Science (Economics and Business Administration), 120 ECTS

Profile of the Degree: 

The MF Program focuses on understanding the financial markets and financial market participants. Students will develop the skills necessary to analyze the interactions between the markets and participants. The program provides a strong foundation in the theoretical and empirical tools of modern finance. Topics covered include asset pricing, corporate finance, portfolio management and risk management. The approach is analytical and methodologically oriented.

Students in MF gain special insight into the areas of individual investor behavior and the management of alternative assets. The program provides students with the knowledge and skills required to work in specialist and executive positions in the financial sector. As a minimum precondition, an applicant needs to have an appropriate Bachelor's (or similar) degree. The quantitative nature of the MF ideally suits those who have studied business, economics, natural sciences or engineering. The program also gives a good basis for further academic studies at the postgraduate level.

Courses Required for the Degree: 

Studies consist of four modules, each of which corresponds to 30 ECTS credits. The modules are scheduled for four semesters / two years (total of 120 ECTS credits).

See below: Course Structure Diagram for academic year 2015-2017


Learning Outcomes: 

General Learning Outcomes

  • Analytical thinking and problem solving – our graduates are able to solve business and/or economic problems and make business decisions.
  • Disciplinary knowledge – our graduates demonstrate deep and coherent understanding of an academic field of study.
  • Business knowledge - our graduates demonstrate deep understanding of their own profession, and are able to use, process and analyze economic and/or business information.
  • Globally responsible leadership – our graduates are able to act as future generators of sustainable value for business and society.
  • Communication skills - our graduates demonstrate professional oral and written communication knowledge and skills appropriate for business situations.

After completing the International Master’s Degree Programme in Finance (in addition to the skills and knowledge gained at the undergraduate level) 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
  • recognize differences between traditional thinking and ‘new facts’ in finance
  • choose and apply the most important methods in financial econometrics
  • show expertise in a specific subject area by conducting independent research and reporting on the implementation and results of the research.
Arrangements for Recognition of Prior Learning: 

The recognition of prior learning follows the main principles as defined by the University of Oulu.

More information: Recognition of Prior Learning (RPL)

Modes of Study and Teaching: 

The student studies full-time, corresponding to 60 credits per year. This equals to 1600 hours of student workload per year. The full degree (120 credits) can be completed in two years, studying full-time. The studies are carried out as contact teaching.

Language of Instruction: 


Examination Regulations, Assessment and Grading: 

Assessment methods and criteria for the studies: The degree-related studies can be completed based on the curriculum. The study units are primarily completed by attending examinations and they are assessed by the person responsible for the study unit. The assessment is often based on the grades of final or mid-term exams. Also other assessment criteria are used, including exercises, term papers and work reports etc. 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.

Grading: 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.

The grade of Master’s Thesis shall not be considered when determining the average of advanced studies.

Occupational Profiles of Graduates: 

Specialist and executive positions in private, public and third sector organizations.

Access to Further Studies: 

After completing the International Master’s Degree Programme in Finance the student is eligible to apply for Doctoral level studies.

More information: University of Oulu Graduate School (UniOGS)

Graduation Requirements and Final Project: 

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:

More information: Graduation timetable for degree students

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”.

Basic information

Level of the Degree: 
Master's Degree
Duration of Studies: 
2 years
ECTS Credits: 
Language of Instruction: 
Graduate Profiles: 
Quantitative Analyst
Portfolio Manager
Market Strategist
Chief Investment Officer (CIO)
Location of Instruction: 
+358 (0)294 487784
sinikka.moilanen (at)


Applying Information: 
The master's programme is applied for through
Application Period: 
December 15, 2015 – January 29, 2016 (15.00 GMT +2)