Economics - Master's Programme
MSc in Business and Economics, major in Economics | 2 years | 120 credits
The Master’s programme in Economics brings you the quantitative skills and analytical mindset that are essential for a successful career in governmental organisations, international institutions, and private sector firms such as banks and economic consultancies.
Description
The programme provides you with deep and thorough knowledge of modern economic theories, concepts, techniques, and their applications. You will acquire the necessary skills to undertake advanced economic analysis and become familiar with state-of-the-art research. The rigorous and research-based education will enable you to undertake advanced economic analysis by applying modern economic theory and state-of-the-art tools for handling data and conducting econometric analysis (using, for example, STATA and MATLAB).
The programme offers a wide range of elective courses (60 credits in total) allowing you to specialise in your field of interest. You also have the opportunity to study one semester abroad at one of our international partner universities. We offer a high-quality learning experience. The lecturers are dedicated to teaching but also active in research, ensuring you access to the latest developments in their fields.
Taken together, the programme equips you with a comprehensive package of knowledge, skills, and tools crucial for understanding and analysing the key economic issues of today and tomorrow.
Exchange opportunity
You apply in February (during your second semester) to be able to go on an exchange in the autumn (during the third semester). In some cases, the fourth semester might also be an option. Note however that your Master’s essay cannot be written during your exchange, it must be written in Lund.
Apply here
Economics – Master's Programme
(lunduniversity.lu.se)
Application period:
Mid-October to mid-January
Contact
Master coordinator Economics
master [at] nek [dot] lu [dot] se (master[at]nek[dot]lu[dot]se)
Course Content
A unique feature of the Master’s programme in Economics is the ability to tailor your degree to your interest. You can choose from different specialisations or profiles:
- Econometrics
- Financial Economics
- International and Development Economics
- Macroeconomics
- Microeconomics
- Public Economics with Health and Labour Economics
This two-year MSc programme contains three types of courses:
Core courses: 30 credits in total
Specialisation courses (including elective courses): 60 credits in total
Master's essays: 30 credits in total (two essays of 15 credits each)
This design allows for a large degree of flexibility. Each specialisation has a recommended profile. Whilst free choice within the specialisation courses will be allowed as long as the specific prerequisites for the course are satisfied, it is expected that most students will follow these recommended profiles.
This is a preliminary course list, and is intended as guidance only. The course list may be subject to change. All courses given at the Department of Economics are found on their webpages.
Core courses (30 ECTS in total)
This block contains courses in mathematical methods, econometrics, microeconomics and macroeconomics. These are core courses for all students within the programme and you study them during your first semester.
The course presents modern microeconomic theory and a set of applications. The applications considered include: the theory of economic decision making under risk and uncertainty, non-cooperative game theory and the basic concepts of dominance, Nash equilibrium, and subgame perfection, the theory of monopoly, oligopoly theory, developing game theoretic models of competition in prices and quantities as well as sequential competition, the basic theory of incentive problems created by asymmetric information about actions or states of nature.
Course code: NEKN21 | Download syllabus
This course gives the basis that is needed to enable students to empirically analyse economic data without making unrealistic assumptions. Modern econometric techniques are treated, and at the same time considerable emphasis is placed on fundamental econometric thinking. Theoretical studies are interwoven with practical applications in the form of computer exercises.
Course code: NEKN31 | Download syllabus
The content of the course is the following topics:
- Elementary set theory (set inclusion, union, intersection)
- Elementary number theory (natural numbers, rational numbers, real numbers)
- Elementary functions (polynomial, exponential, logarithmic)
- Differentiation (basic rules, diufferentiation of elementary functions, total and partial, chain rule)
- Constrained optimization with equality and inequality constraints (Lagrange and Kuhn–Tucker)
- Convergence of series and limits (simple cases)
- Integration (basic rules, integration of elementary functions, one variable)
- Linear algebra (basic operations with matrices and vectors)
- Basic probability theory (what probabilities are, expected value, expectations operator, Bayes rule)
Course code: NEKN32 | Download syllabus
An important part consists of modern macroeconomic models based on individual forward-looking behaviour of firms and households. The course deals primarily with the short run, i.e. business cycle phenomena and stabilization policy. In addition, the determinants of long-run inflation and unemployment are studied.
The course begins with consumption and investment theory. These theories form the basis of the real business cycle theory where. Then follows New Keynesian models of the business cycle, which rely on temporarily fixed prices and wages. Next, the theories of structural unemployment are presented.
Course code: NEKN41 | Download syllabus
Specialisation courses, including electives (60 ECTS in total)
Within the programme you can choose from different specialisations. There is no requirement of following a specific profile (that is, one can take specialisation courses from different profiles), but it is highly recommended.
60 ECTS credits of specialisation courses and/or elective courses are required for each profile. These are recommended specialisation courses for this specific profile:
- Applied Microeconometrics (7,5 ECTS) – Course code: NEKN33 | Download syllabus
- Time Series Analysis (7,5 ECTS) – Course code: NEKN34 | Download syllabus
- Econometric Theory (15 ECTS) – Course code: NEKP35 | Download syllabus
60 ECTS credits of specialisation courses and/or elective courses are required for each profile. These are recommended specialisation courses for this specific profile:
- Economic and Financial Decision Making (7,5 ECTS) – Course code: NEKN22 | Download syllabus
- Time Series Analysis (7,5 ECTS) – Course code: NEKN34 | Download syllabus
- Foundations of Finance (7,5 ECTS) – Course code: NEKN81 | Download syllabus
- Empirical Finance (7,5 ECTS) – Course code: NEKN82 | Download syllabus
- Financial Valuation and Risk Management (7,5 ECTS) – Course code: NEKN83 | Download syllabus
60 ECTS credits of specialisation courses and/or elective courses are required for each profile. These are recommended specialisation courses for this specific profile:
- Advanced Course in Economic Integration (7,5 ECTS) – Course code: NEKN71 | Download syllabus
- Advanced Trade Theory (7,5 ECTS) – Course code: NEKN72 | Download syllabus
- Advanced Development Economics (7,5 ECTS) – Course code: NEKN73 | Download syllabus
During the first spring semester, you may choose one of the following two courses:
- Applied Microeconometrics (7,5 ECTS) – Course code: NEKN33 | Download syllabus
- Time Series Analysis (7,5 ECTS) – Course code: NEKN34 | Download syllabus
60 ECTS credits of specialisation courses and/or elective courses are required for each profile. These are recommended specialisation courses for this specific profile:
- Time Series Analysis (7,5 ECTS) – Course code: NEKN34 | Download syllabus
- Applied International Macroeconomics (7,5 ECTS) – Course code: NEKN42 | Download syllabus
- Economic Growth, Advanced Course (7,5 ECTS) – Course code: NEKP41 | Download syllabus
- International Macroeconomic Theory (7,5 ECTS) – Course code: NEKP42 | Download syllabus
60 ECTS credits of specialisation courses and/or elective courses are required for each profile. These are recommended specialisation courses for this specific profile:
- Applied Microeconometrics (7,5 ECTS) – Course code: NEKN33 | Download syllabus
- Economic Evaluation (7,5 ECTS) – Course code: NEKN51 | Download syllabus
- Economics: Advanced Health Economics (7,5 ECTS) – Course code: NEKN61 | Download syllabus
- Advanced Labour Economics (7,5 ECTS) – Course code: NEKN66 | Download syllabus
- Advanced Public Economics (7,5 ECTS) – Course code: NEKP51 | Download syllabus
You learn how to cope with a large workload and multiple deadlines, analyze and solve complex problems, and how to work together with different types of people. These are all skills that you will benefit from when entering working life.
– Audun Gjerde (Norway)
About Audun
"After finishing my bachelor’s in Business Administration in Norway I decided to pursue a Master’s in Economics, much due to my interest in macroeconomics. After doing a lot of research on potential universities through different rankings and accreditations, I ended up applying to Lund. It was also highly recommended to me by my supervisor at the time."
What is the programme like?
"The mandatory courses in the beginning of the programme gives you a good base knowledge within both economics and econometrics, and through the choice of courses and thesis topics you get the opportunity to specialize within your own field of interest. More importantly, you learn how to cope with a large workload and multiple deadlines, analyze and solve complex problems, and how to work together with different types of people. These are all skills that you will benefit from when entering working life.
Most courses are based on lectures, but also include computer labs and different assignments, and are usually concluded with a written exam. A lot of individual work is necessary in order to prepare for exams, but working in groups is both encouraged and expected as a lot of the assignments are solved in groups of two or more students. The interaction between students and teachers is very informal, and students are encouraged to ask questions and be active during the lectures. The lecturers are in general also available and happy to answer questions and help you also outside of the lectures.
There is a nice mix of students from different nationalities, backgrounds and fields of interest. This means that whatever topic you are struggling with, there is always someone who can help you out, and everyone is always happy to share their knowledge. It also gives you a large network all over the world within different industries."
What are you planning to do after your year/years in Lund?
My goal is to work in the intersect between macroeconomics and public policy, and I am currently applying for jobs within the public sector. However, a Master’s in Economics from Lund gives you a lot of freedom and opportunities to pursue different career paths within economics.
Other comments about the overall experience?
Lund is an amazing student city. The city and its activities are mainly built around the university and its students, and there is always something do also outside the studies.
The relationship between professors and students is, unlike in many other countries, very warm and informal. The professors are always available to students, and participation during class is encouraged.
– Alfred Romero Molina (Spain)
“I chose to study economics because of the financial crisis that hit Spain in 2008. I was curious about why it happened, and what could be done to solve it. In the Master’s in Economics, we learn sound economic theories in microeconomics and macroeconomics, and how to critically assess and challenge them. Furthermore, the programme equips us with the quantitative skills in mathematics, statistical methods and econometrics required to test theories, carry out policy analysis and pursue original research at the PhD level. You also learn to work in a truly international environment, and adapt to the different cultures and ways of working.
The workload is high and the pace is incredibly fast. The relationship between professors and students is, unlike in many other countries, very warm and informal. The professors are always available to students, and participation during class is encouraged. It is also worth mentioning that the programme has six different specialisations and that it offers a vast array of courses in each subfield. A course typically consists of lectures, assignments and a final exam. Generally, assignments are done in groups of two to four students. I find the assignments diverse and challenging, which forces us to be creative.
When I first selected the Master’s in Economics, I was sure I would end up doing a PhD afterwards. However, the programme has introduced me to new areas within the field of economics. I ended up being very interested in finance and, in particular, risk management. Before graduation, I secured a job in Spain as a Financial Risk Management Consultant at Deloitte.”
International opportunities
Lund is just the starting point. Explore the world during your studies.
Career opportunities
There is a broad and extensive labour market for economists both nationally and internationally. The demand for the competence of economists with a master’s degree is relatively constant over time or even growing.
You will be qualified for advanced positions within the private and public sectors. There is a broad and extensive labour market for economists both nationally and internationally. The demand for the competence of economists with a master’s degree is relatively constant over time or even growing. You will be qualified for advanced positions within the private and public sectors.
Graduates find employment in government authorities and public institutions, in large companies, in the financial sector, in private research centres, in the health sector and in a large number of international institutions such as central banks, government departments, OECD, EU, The World Bank, development agencies, economics consultancies, financial organisations, international corporations etc. The programme also provides excellent preparation for PhD studies.