In the ECN major, you will learn how to combine data and economic theory to study what motivates and drives the decisions by individuals, companies, competitors, and authorities; what determines prices, returns, and economic allocations in different markets; and the consequences of public policies. The major will enable you to master an extensive and flexible analytical toolbox that will open the door to knowledge-intensive occupations in high demand. To help students tailor the major to their specific interests, we have organized the elective courses in three tracks representing different career paths that Economics students from NHH commonly take:

COMPETITION AND BUSINESS STRATEGY

This track is targeted towards students who are interested in the interplay between producers, customers, and competitors – and how that ultimately determines the strategic behavior of firms. The track enables students to analyze specific markets, firms’ strategic and operative decision-making, and the regulation of firms and markets. These skills will be valuable in the strategic management of firms, as well as for careers in consultancies, ministries, and authorities. Topics include law and economics, retailing, outsourcing, and industrial organization.

SUSTAINABLE DEVELOPMENT AND PUBLIC POLICY

This track is targeted towards students who seek to better understand the problems our society faces today, such as global warming and rising inequality. Students will learn how to approach an economic problem and analyze it using state-of-the-art empirical methods combined with increasingly available economic and social data. These skills in applied economic methods prepare students for careers as analysts, consultants, or advisors – in private businesses or in the public sector. Topics within this track include behavioral, development, labor, and public economics.

MACROECONOMICS, FINANCE, AND ASSET MARKETS

This track is targeted towards students who are interested in the big trends and the overall economy. Students study short-term or long-term performance in aggregate economies and the interaction between real and financial markets. The track prepares students for careers in banks and the financial industry, multinational companies, and in ministries, central banks, or international organizations. Topics include monetary, international, and financial economics.

The Economics major is built on a set of mandatory courses, equivalent to 22.5 ECTS, that will provide a solid foundation in economic theory (ECN400 or ECN401), empirical methods (ECN402), and applied analytical problem-solving skills (ECN425). Notice that students can choose between two mandatory courses in economic theory depending on what area they find most interesting and relevant for their future career (Microeconomics or Macroeconomics) or take both courses to receive a broader competence. Students are encouraged to take the mandatory courses during the first two semesters.

The elective courses (minimum 22.5 ECTS) allow students to focus on particular subject areas in economics and take specialized empirical courses tailored towards the student’s interest. To clarify which elective courses share the same overall theme and career possibilities, we have organized them into three tracks. Note, however, that the tracks only represent recommended course combinations and not something students must follow:

• Competition and Business Strategy (CBS)
• Sustainable Development and Public Policy (SDP)
• Macroeconomics, Finance, and Asset Markets (MFA)

Ultimately, the coursework will enable students to complete an independent Master’s thesis in economics corresponding to 30 ECTS.

The complete list of courses in the Economics major is presented below:

MANDATORY COURSES (MINIMUM 22.5 ECTS)

Economic theory (at least one):

• ECN400 Macroeconomic Theory and Policy (7.5) Autumn
• ECN401 Microeconomic Theory with Applications (7.5) Autumn

Empirical methods:

• ECN402 Econometrics (7.5) Autumn, Spring

Applied economics:

• ECN425 Solving Economic and Social Problems with Big Data (7.5) Spring

ELECTIVE COURSES (MINIMUM 22.5 ECTS)

Competition and Business Strategy (CBS)

• BAN440 Data Driven Business Analysis (7.5) Spring
• BUS438 Strategic Organization and Competition (N) (7.5) Spring
• BUS442 Competition - Law and Economics (N) (7.5) Autumn
• BUS470 Retail Analytics (7.5) Spring
• BUS475 Competition Strategy (N) (7.5) Autumn
• ECO401 Optimization and Microeconomic Theory (7.5) Autumn
• ECO427 Industrial Organization (N) (7.5) Spring

Sustainable Development and Public Policy (SDP)

• ECN421 Behavioral Economics (7.5) Autumn, Spring
• ECN423 Development Economics (7.5) Autumn
• ECN435 Data-Driven Public Policy (7.5) Autumn
• ECO433 Empirical Strategies for Causal Analysis (7.5) Fall
• ECO439 Resource Economics (7.5) Spring
• ECO441 Taxes and Public Policy (7.5) Spring
• ETI450 Corporate Social Responsibility (7.5) Spring

Macroeconomics, Finance, and Asset Markets (MFA)

• ECN430 Empirical Methods in Macroeconomics and Finance (7.5) Spring
• ECN434 International Trade and Globalization (7.5) Spring
• FIE403 Business Cycle Analysis and Macroeconomic Policies (7.5) Autumn, Spring
• FIE420 Money and Banking (N) (7.5) Autumn
• FIE421 Macroeconomic Analysis and Sustainability (7.5) Spring
• FIE431 Crashes and Crises (N) (7.5) Autumn

Master’s thesis (30 ECTS)

• ECNTHE Independent Work Major in Economics (30) Spring, Autumn

Candidates who have completed the Economics major have acquired the following:

KNOWLEDGE

K1: A solid understanding of central economic theories that can be used to analyze different markets and public policies.

K2: An extensive knowledge of econometric methods to analyze economic data, including the identification of causal effects, implied optimal decisions and policy, and prediction.

K3: The competence to combine available data and economic theory to understand and address current economic and social challenges.

SKILLS

S1: The ability to practically and critically apply the main theoretical models describing economic behavior.

S2: The ability to collect and analyze economic data to contrast and compare empirical predictions and implications, using economic models and modern econometric methods.

S4: The ability to use advanced digital tools, including data processing, visualization, and programming.

GENERAL COMPETENCES

C1: The ability to formulate research questions in economics and provide answers using both theoretical and empirical methods.

C2: The ability to work in teams and to communicate on economic issues to both specialists and a wider audience.

C3: The ability to analyze the sustainability of economies and market allocations and potential policy prescriptions.

The following courses available in the Economics major fulfill the ERS requirement:

• ECN421 Behavioral Economics
• ETI450 Corporate Social Responsibility

Remember that the ERS course can also be one of your elective courses.

See list of all ERS courses

How to secure a fair and efficient allocation of resources, that is beneficial for both today's and future generations, is at the core of the Economics major. Topics linked to sustainability will therefore be covered in both mandatory and elective courses, such that students will have plenty of opportunities to learn, discuss and analyse these important issues.

As an NHH student, you have excellent opportunities to gain valuable international experience during your studies through semester exchange, the Double Degree programme, CEMS, Engage.EU, Intern Abroad and summer courses. In the Double Degree programme, there are many opportunities for ENE students, including Double Degrees with institutions such as Bocconi, HEC Montréal, HEC Paris, Ivey, Louvain, Luiss, Universität Mannheim, and University of Queensland.

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The Economics major prepares you for a wide range of excellent career opportunities that require a solid and broad analytical background. Recent graduates typically work in economic consulting, banks, insurance, telecom, or the energy sector. Public employers of students with the Economics major include Norges Bank, ministries and regulators, as well as international organisations (United Nations, World Bank, IMF, OECD). In addition, the profile prepares you for PhD studies in economics. In case you would like to come in contact with one of our recent graduates, please send an email to profile coordinator Mathias Ekström.

Read more about career opportunities for NHH graduates

COURSES IN ECONOMICS MINOR

To take Economics as a minor, you need 22.5 ECTS from the profile’s portfolio of courses.

ECN CORE COURSES - AT LEAST ONE

• ECN400 Macroeconomic Theory and Policy (7,5 stp)Autumn
• ECN401 Microeconomic Theory with Applications (7,5 stp)Autumn
• ECN402 Econometrics (7,5 stp) Autumn Spring
• ECN425 Solving Economic and Social Problems with Big Data (7,5 stp) Spring

ECN ELECTIVE COURSES

Competition and Business Strategy (CBS)

• BAN440 Data Driven Business Analysis (7,5) Spring
• BUS438 Strategic Organization and Competition (N) (7,5) Spring
• BUS442 Competition - Law and Economics (N) (7,5) Autumn
• BUS470 Retail Analytics (7,5) Spring
• BUS475 Competition Strategy (N) (7,5) Autumn
• ECO401 Optimisation and Microeconomic Theory (7,5) Autumn
• ECO427 Industrial Organization (N) (7,5) Spring

Sustainable Development and Public Policy (SDP)

• ECN421 Behavioral Economics (7,5) Autumn Spring
• ECN423 Development Economics (7,5) Autumn
• ECN435 Data-Driven Public Policy (7,5) Autumn
• ECO433 Empirical Strategies for Causal Analysis (7,5) Fall
• ECO439 Resource Economics (7,5) Spring
• ECO441 Taxes and Public Policy (7,5) Spring
• ETI450 Corporate Social Responsibility (7,5) Spring

Macroeconomics, Finance and Asset Markets (MFA)

• ECN430 Empirical Methods in Macroeconomics and Finance (7,5) Spring
• ECN434 International Trade and Globalisation (7,5) Spring
• FIE403 Business Cycle Analysis and Macroeconomic Policies (7,5) Autumn Spring
• FIE420 Money and Banking (N) (7,5) Autumn
• FIE421 Macroeconomic Analysis and Sustainability (7,5) Spring
• FIE431 Crashes and Crises (N) (7,5) Autumn