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Master's Programme in Economics

  • Number of credits 120 Credits

A growing need for knowledge in economics is a feature of an ever-evolving society. The Master's Program in Economics seeks both to broaden the content of the undergraduate program and to provide students with essential tools for advanced studies and a career as an economist. The faculty members teaching and supervising in the Master's Program in Economics have a strong standing in the international research community and good connections to authorities and firms. The programme is offered by the AACSB accredited Umeå School of Business, Economics and Statistics.

While studying

The first two courses at the program give you the mathematics and econometrics skills you need for advanced level studies in economics and the rest of the semester focuses on microeconomics. The second semester contains courses in macroeconomics and labour or public economics and the first master's thesis. The courses during the third semester depend on your choice of specialization. The third semester is also when you can do an internship or go on an exchange. Finally, the fourth semester contains a course within your specialization, and the final master thesis.


Within the scope of CERE and with our partners at Swedish University of Agricultural Science we have created a profile in Environmental and Resource Economics and together with the Faculty of Medicine we can offer a profile in Health Economics. If you chose to study the general profile you have good opportunities for exchange studies or internships in Sweden or abroad. No matter what your choice is, it will be a great experience and good to have on your CV!

Specialization: Environmental and resource economics
Specialization: Health Economics


You will, most of the time, follow traditional lectures. The teachers are mainly professors from the Department of Economics, but we try to involve guest professors to make use of their expert skills. Each course covers five weeks and you only take one course at the time (i.e. no parallel reading). A normal week will have approximately 12-15 lecture hours. During the rest of the time you are supposed to study on your own, or together with your fellow students. You can of course visit the professors during their office hours.


Some of the courses, especially during the second year, will use seminars instead of lectures. The seminars are often used for discussing relevant scientific articles, current issues within economics etc.
Students at the program are also encouraged to attend the higher seminars held by the department, where invited guests present their research.


You can use part of your time as a student at the program for a work placement or an internship. Doing an internship can be a good investment. Take the chance to try your wings and to show your skills!

You can do the internship during the third semester, which will be registered as a 15 or 30 credit course (equivalent to 10 or 20 weeks). The internship should be done at a suitable work place in Sweden or abroad, and the only requirement is that your job can be related to your education. You must find the internship position on you own (even if we are posting all positions we get information about) and the position must be approved by the program coordinator.

Students at the program have been doing internships at places like:

  • The European Investment Bank
  • The Ministry of Finance
  • Svenska Spel
  • The Swedish Parliament
  • North Sweden, Brussels
  • County and Municipality Administrations
  • Major banks

Study Abroad

Studying abroad is a perfect way to combine academic studies and a cultural experience. As an international student at the program you are already studying abroad but why not experience another country as well? By studying abroad, you can increase number of courses to choose from. Even if we offer you a full program, we can't offer courses within all fields of economics. Instead, we give you the possibility to apply for exchange studies at universities around the world. As an exchange student you are exempt from tuition fees at our partner universities (but you may still need to pay tuition to Umeå University).

Master Theses

During your time at the program you will write two 15 credit theses. These will be written at the end of each of the two years and they are good opportunities to shape your education as you to choose your own subject, which helps you take your studies in your preferred direction. In order to help you the department will give you a supervisor with whom you can discuss you research question, econometric issues and how to write your thesis in the best possible way.

Sustainability perspective all the more important

We have worked with sustainability in our education for many years by emphasizing social and environmental aspects as important complements to the economic perspective. Questions around sustainability get a whole lot bigger attention in today's firms and organizations and we lifted these questions up early in our educational programs. We are certified by the environmental management system ISO-14001 and we are members of the international networks PRME and GBSN.

Programme overview

1st Semester (fall)
Mathematics. Econometrics. Microeconomics I. Microeconomics II.

2nd Semester (spring)
Labour Economics or Public Economics. Macroeconomics I. Master Thesis I.

3rd Semester (fall)
Courses within the profile "Environmental- and Resource Economics". Courses within the profile "Health Economics". Elective if no profile is chosen.

4th Semester (spring)
Labour Economics or Public Economics. Environmental and Resource Economics or Health Economics. Master Thesis II.

Career opportunities

The program emphasizes the theoretical aspects of economics, but also applied parts. The combination of great theoretical skills and good econometric knowledge is very attractive on the job market in many sectors.

The future career as an economist allows you to choose among various paths. Many of our students are striving for a future as a researcher and apply for a PhD position after graduating from the Master's Programme.

Other options for an economist are to work as an expert in the public sector, to work for the central bank or the government but also to work in the private sector, especially in the financial sector.

Our alumni typically work with advanced analytical tasks e.g. at Sweden's Central Bank, the Ministry of Finance, the Competition Authority, research centers and universities and of course in all major Swedish banks. These employers, among others, will be important for you and other students in the future as well.


Master of Science (60 credits). Major field of study: Economics
Master of Science (120 credits). Major field of study: Economics. Specialization in Environmental- and Resource Economics or Health


Questions and answers

Contact us

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Contact person for the programme is:
Tomas Raattamaa