Master's Programme in Economics 120 credits

About the programme
The Master’s Programme in Economics will grow your analytical mindset and provide you with the tools to dissect complex and challenging economic problems. There is an emphasis placed on problem-solving skills essential for a successful career as an economist, in government and public policy making, private sector and international organisations, or to continue with doctoral studies in economics.
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.
Lectures
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 studies). 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.
Seminars
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's theses
Both the first as well as the second year of the programme concludes with a 15 credit master's 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 Sciences.
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 deal with economics, the environment, and the management of our natural resources, including energy resources. The point of departure in this master's 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 the 2030 Agenda 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
Courses
1st Semester (autumn)
Mathematics. Econometrics. Microeconomics with Applications.
2nd Semester (spring)
Labour Economics or Public Economics. Macroeconomics I. Master Thesis I.
3rd Semester (autumn)
Studies within your profile.
4th Semester (spring)
Labour Economics or Public Economics. Environmental and Resource Economics or Health Economics. Master Thesis II.
Programme coordinator is Tomas Raattamaa.

We integrate competencies in our programmes
In our programmes and courses we focus on competencies that are needed for your future professional life.
Future and 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 centres, 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.
Apply
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Autumn 2025
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Master's Programme in Economics
International admissions round
Autumn 2025 / Umeå / English / On site
Show more Show less
StartAutumn Term 2025
Number of credits120 credits
Type of studiesOn site
Study pace100%
Length2 years
Study locationUmeå
LanguageEnglish
Application codeUMU-M2018
Eligibility A Bachelor's degree or equivalent first-cycle qualification comprising of at least 180 ECTS or a corresponding qualification from an internationally recognised university. 75 ECTS in economics and 15 ECTS in statistics, econometrics, mathematics or equivalent. Documented language proficiency equivalent to English 6/B from Swedish upper secondary school.SelectionAcademic credits completed by the last application date (in the range of 30-285 credits equivalent to ECTS)
DegreeMaster of Science (60 credits). Major field of study: Economics
Master of Science (120 credits). Major field of study: Economics. Specialisation available: Environmental- and Resource Economics and Health Economics.ApplicationApplication deadline was 15 January 2025. The application period is closed.
Application and tuition feesAs a citizen of a country outside the European Union (EU), the European Economic Area (EEA) or Switzerland, you are required to pay application and tuition fees for studies at Umeå University.
Application fee: SEK 900
Tuition fee, first instalment: SEK 48,300
Total fee: SEK 193,200
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Master's Programme in Economics
Second admissions round for EU/EEA citizens
Autumn 2025 / Umeå / English / On site
Show more Show less
StartAutumn Term 2025
Number of credits120 credits
Type of studiesOn site
Study pace100%
Length2 years
Study locationUmeå
LanguageEnglish
Application codeUMU-P2018
Eligibility A Bachelor's degree or equivalent first-cycle qualification comprising of at least 180 ECTS or a corresponding qualification from an internationally recognised university. 75 ECTS in economics and 15 ECTS in statistics, econometrics, mathematics or equivalent. Documented language proficiency equivalent to English 6/B from Swedish upper secondary school.SelectionAcademic credits completed by the last application date (in the range of 30-285 credits equivalent to ECTS)
DegreeMaster of Science (60 credits). Major field of study: Economics
Master of Science (120 credits). Major field of study: Economics. Specialisation available: Environmental- and Resource Economics and Health Economics.ApplicationApplication deadline was 15 April 2025. Please note: This second application round is intended only for EU/EEA/Swiss citizens. Submit a late application at Universityadmissions.se.
Application and tuition feesAs a citizen of a country outside the European Union (EU), the European Economic Area (EEA) or Switzerland, you are required to pay application and tuition fees for studies at Umeå University.
Application fee: SEK 900
Tuition fee, first instalment: SEK 48,300
Total fee: SEK 193,200
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Autumn 2026
-
Master's Programme in Economics
International admissions round
Autumn 2026 / Umeå / English / On site
Application opens 16 October 2025Show more Show less
StartAutumn Term 2026
Number of credits120 credits
Type of studiesOn site
Study pace100%
Length2 years
Study locationUmeå
LanguageEnglish
Application codeUMU-M2018
Eligibility A Bachelor's degree or equivalent first-cycle qualification comprising of at least 180 ECTS or a corresponding qualification from an internationally recognised university. 75 ECTS in economics and 15 ECTS in statistics, econometrics, mathematics or equivalent. Documented language proficiency equivalent to English 6/B from Swedish upper secondary school.SelectionAcademic credits completed by the last application date (in the range of 30-285 credits equivalent to ECTS)
DegreeMaster of Science (60 credits). Major field of study: Economics
Master of Science (120 credits). Major field of study: Economics. Specialisation available: Environmental- and Resource Economics and Health Economics.ApplicationThe online application opens 16 October 2025 at 13:00 CET. Application deadline is 15 January 2026.
Application and tuition feesAs a citizen of a country outside the European Union (EU), the European Economic Area (EEA) or Switzerland, you are required to pay application and tuition fees for studies at Umeå University.
Application fee: SEK 900
Tuition fee, first instalment: SEK 48,300
Total fee: SEK 193,200
-
Master's Programme in Economics
Second admissions round for EU/EEA citizens
Autumn 2026 / Umeå / English / On site
Application opens 16 March 2026Show more Show less
StartAutumn Term 2026
Number of credits120 credits
Type of studiesOn site
Study pace100%
Length2 years
Study locationUmeå
LanguageEnglish
Application codeUMU-P2018
Eligibility A Bachelor's degree or equivalent first-cycle qualification comprising of at least 180 ECTS or a corresponding qualification from an internationally recognised university. 75 ECTS in economics and 15 ECTS in statistics, econometrics, mathematics or equivalent. Documented language proficiency equivalent to English 6/B from Swedish upper secondary school.SelectionAcademic credits completed by the last application date (in the range of 30-285 credits equivalent to ECTS)
DegreeMaster of Science (60 credits). Major field of study: Economics
Master of Science (120 credits). Major field of study: Economics. Specialisation available: Environmental- and Resource Economics and Health Economics.ApplicationThe online application opens 16 March 2026 at 09:00 CET. Application deadline is 15 April 2026. Please note: This second application round is intended only for EU/EEA/Swiss citizens.
Application and tuition feesAs a citizen of a country outside the European Union (EU), the European Economic Area (EEA) or Switzerland, you are required to pay application and tuition fees for studies at Umeå University.
Application fee: SEK 900
Tuition fee, first instalment: SEK 48,300
Total fee: SEK 193,200
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How to apply
Apply online via universityadmissions.se
You apply to our programmes and courses via universityadmissions.se – the official website for higher education applications in Sweden. There, you can track your application, check that your documents have been registered, and log in to find our your admission results.
Late applications
Admissions to most programmes and courses typically close after the final application deadline. However, some programmes and courses may still accept late applications if seats are available. These are marked “Open for late application” on universityadmissions.se. Please note that late applications are not guaranteed to be reviewed.
More about application and admission
Film about the programme
Hear from students who share their experiences of studying at an advanced level at Umeå School of Business, Economics and Statistics.
Frequently asked questions
Do I need to pay tuition?
With a few exceptions, all citizens of countries outside of the European Union (EU), European Economic Area (EEA) and Switzerland are required to pay tuition fees for education at Umeå University at the undergraduate and advanced level.
I will have to pay tuition. Are there any scholarships available?
There are a couple of different scholarship programs available for international students at the Master's Program in Economics. Don't miss this opportunity to finance your studies!
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