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Master's Programme in Economics

  • Number of credits 120 Credits

The Master’s programme in Economics will look to grow your analytical mindset and to provide you with the tools to dissect complex and challenging economic problems. There is an emphasis placed on problem-solving skills that are essential for a successful career as an economist, in government and public policy making, private sector and international organisations, or to continue with PhD studies in economics.

The programme is offered by the AACSB accredited Umeå School of Business, Economics and Statistics.

About the programme

If you are a student that is wanting to understand and evaluate economic policy and perform advanced economic analysis, our Master’s programme will deepen your knowledge of modern economic theories, their techniques and application. The programme will therefore equip you with a strong theoretical foundation with the option to specialize in either Environmental and Resource Economics, or Health Economics as your profile of choice. Taken together, the programme provides a deep understanding of economics, that allows you to analyze key current as well as future economic issues, and provide you with competencies that will kick-start your career as an economist.

While studying

The first two semesters are the same regardless of your profile choice. The first semester gives you the mathematical and econometrical skills you need for advanced level studies in economics as well as in-depth knowledge in microeconomics. The second semester contains courses in macroeconomics and labour or public economics and a 15 credit thesis.

The courses during the third semester depend on your choice of specialization. The fourth semester contains one course in labour or public economics regardless of your profile choice and continues with a course in either environmental and resource economics or health economics. The semester ends with the final master thesis.


You will, most of the time, follow traditional lectures. Each course is five weeks long and you only take one course at the time (i.e. no parallel reading). During a normal week you will have approximately 12-15 lecture hours and during the rest of the time you are supposed to study on your own, or together with your fellow students. Your professors and other advisory staff will be available during their office hours, and always welcome your contact.


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 programme are also encouraged to attend the higher seminars held by the department, where invited guests present their research.

Master Theses

Both the first as well as the second year of the programme concludes with a 15 credit master thesis. These are an opportunity to further shape your education, as by selecting your own topic you can take your studies in a preferred direction. The department will assign you a supervisor with whom you can discuss your research question, econometric issues and assist you with how to write your thesis in the best possible way.

Choose your specialization

  • Specialization: Environmental and resource economics
    Provided in collaboration with the Centre for Environmental and Resource Economics (CERE) and with our partners at the Swedish University of Agricultural Science.

    Good environmental quality is a part of society's welfare. Environmental and resource economics is a way of incorporating the value of nature into society's decisions and, thus, encouraging a sustainable development.

    Environmental and resource economics deals with economics, the environment, and the management of our natural resources, including energy resources. The point of departure in this master profile is that these resources are important for our welfare and therefore knowledge of how to manage them are crucial for individuals and the society as a whole.

  • Specialization: Health Economics
    Provided in collaboration with the Department of Epidemiology and Global Health at the Faculty of Medicine.

    Health economics is concerned with the infinite demand for longevity and health and how to manage the limited resources available to satisfy these needs. However, it is not all about sound financial solutions for the healthcare industry, but also analysis and evaluation of how society as a whole through pricing, taxes and education influence our choices around food, physical exercise, and other health affecting aspects.

    Knowledge such as this is becoming increasingly important, to for example assist with obesity prevention, societal impact on public health, and how to bridge the gap between differing socioeconomic groups and standards of health.

Sustainability perspective all the more important

Sustainability gets more and more attention in today's firms and organizations and we prioritize these questions in our programmes. Together with our students we are working for a more sustainable business school. Our work on sustainability takes as a starting point the 17 sustainable development goals and Agenda 2030 and our specializations in environmental or health economics give you a great opportunity to increase your knowledge.

We are certified by the environmental management system ISO 14001 and we are members of the international networks Global Business School Network (GBSN), Principles for Responsible Management Education (PRME), and Sustainable Development Solutions Network (SDSN).

Read more about our work on sustainability

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)
Studies within your profile.

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

Career opportunities

The programme emphasizes the theoretical aspects of economics as well as 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. Our students may strive for a future as researchers, or to work as an expert in the public sector, to work for the central bank or the government, but can also work in the private sector, e.g. 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 at all major Swedish banks. These employers, among others, will be important for you and other students in the future as well.


Degree of Master of Science (60 credits). Major field of study: Economics.
Degree of Master of Science (120 credits). Major field of study: Economics. Specialisations available: Environmental- and Resource Economics and Health Economics.

Questions and answers

Contact us

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Contact person for the programme is:
Tomas Raattamaa