Study at one of Norway’s leading schools of economics, with an international reputation in the fields of environmental and natural resource economics, energy, climate and development economics, and financial and commodity market analysis.
Economists have specialized knowledge on how the economy influences societies and the well-being of inhabitants. This makes economists well suited to work on issues in environmental policy, energy systems, development aid, enterprise development, trade policy and general economic policy. Economists are therefore in high demand in the private and public sectors as well as by many non-governmental organizations.
What will you learn?
NMBU School of Economics and Business will give you skills in economic analysis and broad insights on how economies work. You get extensive training in economic theory and analysis, in accordance with national and international standards.
In many of the more advanced courses, class sizes are small, allowing for more problem-oriented learning approaches where in-class discussion is central to the learning process.
This Master programme consists of some required theory and methods courses and the option to choose a specialization in one or more sub-disciplines in economics, such as:
• Environment, Climate and Energy Economics - Environment and Climate Oriented
• Environment, Climate and Energy Economics - Energy Oriented
• Development and Global Change
• Financial and Commodity Market Analysis
• Agri-Food Markets
Each specialization has a set of required core courses that can be supplemented with electives from organizational sciences and business management. Alternatively, you can choose a general program with a more interdisciplinary profile, by selecting electives from other faculties at NMBU such as in natural sciences, technology or other social sciences to tailor your education to your special interests. The completion of the degree culminates with the submission of a thesis and the successful oral defense of the work.
Some examples of topics analysed in the programme: • How to integrate environmental effects in economic analysis of ecosystem management, air and water pollution, and climate change. • How to combine economic growth and environmental protection - both at the firm level and at the national level. • How to design and implement international treaties, for example on climate issues. • How to reduce poverty and manage natural resources to increase human well-being without compromising resources or the environment. • How to organize energy markets to avoid monopolies and market manipulation. • How to analyze consequences of international trade agreements; and • How to explain why food, energy and other commodity prices are so volatile.
Modern economics is characterized by complexity and rapid changes. Decision-makers in both the private and the public sector demand an ever higher degree of the information that renders it possible to make the right decisions. Economists hold theoretical and methodological knowledge which equips them to function as premise providers in such situations. The programme provides comprehensive training in economic approaches, theories, topics and methods. This degree qualifies for work with economic analyses within business and public administration. It also qualifies for further studies at doctoral level.
1. An economic mindset with a recognition of interdisciplinary relationships
“Shouldn’t we first determine whether we are capable of answering such questions?”, posed John Locke after an evening of heated but fruitless metaphysical debate with friends (Philosophy: Problems and Perspectives, Solomon, 1977).
Have advanced theoretical foundation in economics, particularly in producer and consumer behavior, market structure and analysis, and uncertainty;
Have critical awareness, through exposure to the literature, of the complex connectedness of economics study in areas such as poverty and inequality, taxes and income distribution, growth and development, non-/renewable resource use and environmental management, domestic and international macroeconomic imbalances, policy and welfare analysis, and use this to analyze issues within economics;
Have in-depth knowledge and understanding of methods of analysis among survey design, experimental design, and econometric modeling to analyze economic data, establish causality versus correlation.
2. Equipped to address real-world problems with sustainability as a guiding principle “Knowing a great deal is not the same as being smart: intelligence is not information alone but also judgement, the manner in which information is coordinated and used.” – Carl Sagan (Cosmos, 1980)
Can identify contemporary problems to formulate researchable questions by which to analyze microeconomic behavior of individual agents and markets, and macroeconomic phenomena;
Have the aptitude to independently consult the economics literature to apply theory and reasoning when conducting qualitative and quantitative analysis to understand causal relationships, correlations, and the link between theory and empirical results;
Can consult economic literature and collect secondary data to analyze and interpret trends to be presented to management and colleagues;
Can assemble economic datasets and construct econometric models to analyze complex problems in a consistent way with the ability to detect logical flaws in the analysis;
Have a critical understanding of economic theory and its relevance for natural and environmental sciences, other social sciences, development studies, finance and commodity market analysis, and food and agricultural sciences; and
Have the proficiency to interpret and report results and communicate insights, through written and oral presentation, to specialists in the field, decision makers in business, policy makers in government and to society at large.
3. Social skills that prepare graduates to work collegially with consciousness and integrity:
“Some degree of inequality in income and wealth, of course, would occur even with completely equal opportunity because variations in effort, skill, and luck will produce variations in outcomes.” – Janet Yellen (Conference on Economic Opportunity and Inequality, Oct. 2014)
Can use their knowledge and skills to address contemporary problems, incorporating socioeconomic and political issues when applying economic theory and methods;
Can conduct market analysis in accordance with ethical guidelines for research, and understanding the limitations of their data, and the constraints of their modeling construct and underlying assumptions; and
Can work independently, or with direct responsibility to a diverse multicultural team, through their ability to organize, plan and conduct their assigned tasks within a given deadline.
Qualifications after graduation:
A degree in economics provides excellent employment opportunities in the private as well as the public sector. Typical tasks in the public sector are planning, monitoring the economy and assessment of social impacts of government measures. Typical tasks in the private sector are forecasts of macroeconomic development (employment, inflation, interest rates, exchange rates), reporting for banks, other companies and organizations, including analysis of developments in specific sectors or markets. There are also many economists in international organizations, where relevant fields of work include trade, globalization and development. The program also qualifies for admission to doctoral studies (PhD) in economics.
Contents and structure:
The degree consists of 120 credits, including the 30-credit master`s thesis. Compulsory courses amount to 45 credits, and include mathematics for economists, microeconomics, econometrics, macroeconomics, research methods, economics of sustainability. The various specializations include a few additional compulsory courses in order to complete the student`s academic profile.
Students are assessed throughout the learning process (assignments and oral presentations) and by final oral and written examinations. The ability to structure complex problems and a scientific approach to problem solving are important assessment criteria.
Cooperation with other institutions:
NMBU School of Economics and Business is a member of the National University Board for Economics and cooperates with other Norwegian universities.
Arrangements, incoming exchange students:
We highly welcome incoming guest students and will do our best to adapt our courses in order to facilitate student exchange.
Bachelor degree in economics or similar, including mathematics and statistics, and at least 90 ECTS of economics (micro, macro, resource economics etc.).All the grades from the bachelor degree will be counted in the average grade. A weighted average grade of C or better is required for admission to the programme.Applicants must demonstrate English language ability in accordance with the NMBU regulations for programmes taught in English.
Combination of lectures, seminars and independent work on exercises. Considerable use of independent study and semester assignments. Teaching is based on traditional theories, up-to-date research and issues of current interest. Academic discussions make up an important part of the learning experience. The final master`s thesis is a independent research task, carried out under supervision.
NMBU School of Economics and Business highly recommends its students to include a semester or a year of study abroad in their education. The department and the university have exchange agreements with universities in Europe and the USA at the master`s level.
Bachelor degree in economics or similar.
Applicants must demonstrate English language ability in accordance with the NMBU regulations for programmes taught in English.
Student Information Centre firstname.lastname@example.org Tlf: 67 23 01 11
- A study in economics will first and foremost give you a framework for how the world works. I believe this is useful no matter where you work. Helene Lillekvelland, Norwegian Agricultural Co-operatives