Master of Science in Business Administration

Compulsory courses
Microeconomic Analysis Year 1 / Semester 1
This is a Master's-level course in microeconomics ("mikroøkonomi"). Upon completion of the course, it is expected that students will have attained the analytical skills necessary to conduct formal mathematical and graphical examinations of consumer choice, producer decisions, and market formations. Students are also expected to have developed a deeper understanding of market structures, welfare analysis, and choices made under risk and uncertainty. Microeconomic analysis provides critical tools for leaders in business environments, analysts in policy planning and resource management, and researchers within both the private and public sectors. In the words of J. M. Keynes: "The theory of economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessor to draw correct conclusions."
Read more about Microeconomic Analysis
Study points: 10
Course coordinator:
Gorm Kipperberg
Econometric Analysis Year 1 / Semester 1
The purpose of this course is to provide students with an introduction to econometrics and basic competence in applying statistical methods as a scientific tool in the analysis of practical economic problems. The course will begin with a brief review of basic statistics and data analysis before moving into the core material, which is the linear regression model. Students will learn to specify and estimate econometric models, interpret results, and uncover and correct for common statistical problems. The lectures will balance theory and mathematical derivations on the one hand and applications to real-world data sets on the other. The training received in this course can shape attractive job candidates, and the computer work will provide skills that can be taken directly into the workplace. All of the course materials, including lectures, assignments, and exams, are in English. 
Read more about Econometric Analysis
Study points: 10
Course coordinator:
Yuko Onozaka
Master Thesis Year 2 / Semester 3
The master's thesis is a carefully crafted scholarly document which defines and explores a research question based on original ideas and arguments developed under the influence and inspiration of primary and/or secondary sources. The thesis should have a substantial research component and must be written under the guidance of an advisor. The thesis provides students with an opportunity to demonstrate expertise and represents a test of research independence and self-reliance within his or her field of specialisation.
Read more about Master Thesis
Study points: 30
Course coordinator:
Klaus Mohn

Management - Specialization

Specialization Strategy and Management
Compulsory courses
Strategy Year 1 / Semester 1

Strategy is initially a military discipline; it is about winning the battle. In our context, it is pertains to how an organization can develop and maintain competitive advantage to their competitors in a free market economy. The approach to the subject often focuses on analytical tools and theoretical models. This approach is, however, a bit challenging, as indicated by the saying from the American psychologist Abraham Maslow: "If the only tool you have is a hammer, any problem will be treated as a nail."

From this point of view, strategy can be approached from the reasoning that knowledge of how to apply the tools comes first, and the combination of models and analytical tools in order to solve the real problems comes later. If you have a toolbox and the knowledge to apply the tools, you can easily solve practical strategic phenomena in real life.

An opposite approach is that strategy is problem initiated in the sense that the problems have to be first understood and acknowledged before opening the toolbox. This course emphasizes an understanding of the strategic issues and phenomena, before applying the tools. This is because we argue that strategic issues are complex and "wicked", and critical thinking about realities is required before choosing the right tool. We thus start with the strategic issues and continue with different theories and models to shed light on the issues.


Read more about Strategy
Study points: 10
Course teacher:
Irene Grastveit
Strategic Sourcing Year 1 / Semester 2
The course covers strategic sourcing, contracting and development of business relationships. 
Read more about Strategic Sourcing
Study points: 10
Course coordinator:
Bjarte Ravndal
Marketing Strategy Year 1 / Semester 2
This course will help you become a strategic marketer. You will learn how to create, gain support for and execute marketing strategies. To a large extent the course will focus on how professional organizations, such as companies, government bodies, institutions (e.g., hospitals) and other organizations (e.g., distributors), create market value in a network of relationships.
Read more about Marketing Strategy
Study points: 10
Course coordinator:
Kenneth Henning Wathne
Choose 4 course in term 2 and/or 3
Business Cycle Analysis Year 2 / Semester 3
This course considers economic theory, quantitative methods and empirical insights relevant for the analysis of business cycles domestically as well as internationally. There is a particular focus on monetary policy and the interaction between business cycles and financial markets. A key feature of the course is the emphasis on present day-to-day developments in the global economy.
Read more about Business Cycle Analysis
Study points: 10
Course coordinator:
Øystein Thøgersen
Financial Economics Year 2 / Semester 3
This course provides the theoretical foundations for the field of financial economics. Key topics include the role of the financial sector, financial decision-making, valuation of financial assets, and asset price formation in the absence of arbitrage, with implications for investors and corporations. In addition, the course offers an introduction to the pricing of derivatives and risk management. Finally, the course will cover basic issues in corporate finance, such as dividend and capital structure decisions.
Read more about Financial Economics
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Corporative Law Year 2 / Semester 3
Emnet gir oversikt over sentrale selskapsrettslige spørsmål med hovedfokus på transaksjoner.
Read more about Corporative Law
Study points: 10
Emneansvarlig:
Benn Folkvord
Perspectives on Innovation Year 2 / Semester 3
Innovation is increasingly important for the development and competitiveness of firms. Today's most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop their understanding of innovation and its role in the broader economy, as well as the factors contributing to innovation in firms. The course provides a broad introduction to the literature in innovation studies, drawing on contributions and perspectives from a variety of academic disciplines, including economics, management studies and other social sciences. It will cover current debates in the scholarly literature related to the role of innovation in the economy, different models of innovation, and perspectives on how to promote innovation both from the perspective of individual firms and policy-makers.
Read more about Perspectives on Innovation
Study points: 10
Course coordinator:
Rune Dahl Fitjar
Behavioral Finance Year 2 / Semester 3

Standard finans bygger på antagelsen om rasjonelle investorer som handler for å maksimere egen avkastning/nytte. Utgangspunktet i Adferdsfinans er at antagelsen om den rasjonelle investor i mange tilfeller ikke holder.

Adferdsfinans er studiet av investorers markedsatferd, hvor en benytter psykologiske prinsipper for beslutningstaking til å forklare investorenes atferd. 


Read more about Behavioral Finance
Study points: 10
Emneansvarlig:
Kristoffer Wigestrand Eriksen
Decision analysis using Excel Year 1 / Semester 2
The course uses Excel to analyse different buisness- and microeconomic decision problems. The course focuses on analyzing real world examples to show how to solve relevant economic decision problems using Excel.
Read more about Decision analysis using Excel
Study points: 10
Course teacher:
Lars Christian Bruno
Investments Year 1 / Semester 2
This course describes portfolio decisions and key aspects of financial investment taking the perspective of a fund manager. The course will cover topics such as traditional portfolio theory and fund performance. 
Read more about Investments
Study points: 10
Course coordinator:
Peter Molnar
Empirical Labor Economics Year 1 / Semester 2
This course is designed to help students understand the principles underlying both labor demand and labor supply. The main themes include (but are not restricted to):
  • Labor supply and individual trade-offs between working and leisure
  • Parental labor force participation
  • Welfare and labor supply
  • Labor demand and firms decisions on employment
  • The effects of taxation on labor demand
  • Human capital model
  • Spence signalling model
  • Returns to education

Read more about Empirical Labor Economics
Study points: 10
Course coordinator:
Eric Perry Bettinger
Economics of Energy Markets Year 1 / Semester 2
This course is aimed at improving the understanding of the status of the global energy situation and the market outlook for various technologies and energy carriers. Lectures and curriculum literature cover conventional power generation, wind power, solar energy, oil and natural gas. Drivers of demand, supply and price formation will be explored, including their sensitivity to assumptions relating to resource scarcity, technology and innovation, economic factors, and policy variables. Finally, the course will shed light on the macroeconomic role of energy market developments for importers and exporters of energy resources.
Read more about Economics of Energy Markets
Study points: 10
Course coordinator:
Klaus Mohn
Applied game theory Year 1 / Semester 2
When people and businesses pursue their interests in competition or collaboration with others, they play a game. In a game, the players have to think through how their own choices affect the choices of others. This gives rise to strategic behavior. Game theory is the economists' theory of strategic behavior. By using game theory one can reach a deeper understanding of economic interaction. In any situation where people act strategically to achieve their goals, game theory can help us both to predict behavior, and to understand the types of outcomes that are stable, what we call equilibrium. Game theory is one of the most important analytical tools for economists today.
Read more about Applied game theory
Study points: 10
Course teacher:
Sebastian Fest
Corporate Finance Year 1 / Semester 2
The course covers theory and some empirical evidence in corporate finance, with a focus on analyzing possibilities and limitations for firms to cover their financing needs.
Read more about Corporate Finance
Study points: 10
Course coordinator:
Trond Egil Olsen
Management of Innovation Year 1 / Semester 2
Innovation is increasingly important for the development and competitiveness of firms. Today the most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop a critical perspective of the firm and the innovation process and acquire the skills to assist in managing the firm innovation process.
Read more about Management of Innovation
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Knowledge-based entrepreneurship Year 2 / Semester 3
This course examines the factors that promote entrepreneurial success in new business ventures as well as in existing companies. The course focuses on knowledge-intensive entrepreneurship, as the basis for sustained competitive advantages. Topics include idea generation and evaluation, intellectual property rights analysis, market analysis, strategy analysis, analysis of resources including knowledge resources, external networks and partnerships management, financing options and liquidity control.
Read more about Knowledge-based entrepreneurship
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Derivatives and Risk Management in Energy and Commodity Markets Year 2 / Semester 3
This course covers the valuation and use of options and derivatives for use in the financial, as well as energy and commodities industries. The course is divided into two parts. The first part will be an introduction to derivatives and risk management in energy and commodity markets. In the second part of the course, the students will carry out a research project of their own choosing, related to the pricing and use of derivatives.
Read more about Derivatives and Risk Management in Energy and Commodity Markets
Study points: 10
Course coordinator:
Tao Lin
Economics of Motivation Year 2 / Semester 3
What drives people to work hard? Why do we try our best in some settings, while in others we tend to slack off? In this class we explore how employees are motivated, and tools to increase employees' motivation. We apply microeconomic theory, game theory, behavioral economics and psychology to investigate topics such as incentives, intrinsic versus extrinsic motivation, peer effects, performance feedback, employer recognition, autonomy, competitiveness, reciprocity, procrastination, mindset, identity and social status.
Read more about Economics of Motivation
Study points: 10
Course coordinator:
Mari Rege
Environmental and Resource Economics Year 2 / Semester 3
This is a graduate-level applied economics course. Environmental and resource economics is a branch of economics with explicit focus on the role of the environment and natural resources in the economy. Broadly speaking, the subfield of resource economics studies the flow of resources from nature to the economy, whereas the subfield of environmental economics studies the flow of residuals from the economy into nature. Both subfields are concerned with how these flows influence economic production and human welfare. What is the best management of renewable resources (e.g. fish, forest)? What is the optimal extraction rate for non-renewable resources (e.g. oil, natural gas)? What is the appropriate level of pollution and how can it be achieved? How much is a Norwegian nature experience worth? What would be the economic cost of an oil spill off the coast of North Norway? These are some of the questions that students will learn to address (theoretically and empirically) in this course.
Read more about Environmental and Resource Economics
Study points: 10
Course coordinator:
Gorm Kipperberg
Leadership and coping Year 2 / Semester 3
Målet for en leder er å oppnå gode resultater for den organisasjonen eller avdelingen hun eller han skal lede samtidig som medarbeiderne trives, utvikler seg og bidrar til fellesskapets beste. Dette krever at lederen klarer å ha fokus både på strategi, konkurranseforhold, samfunnets rammebetingelser og medarbeiderne som skal stå for verdiskapningen. I dette arbeidet kan en stille spørsmål om lederen og de ansatte har felles interesser. Medarbeidere ønsker en følelse av identitet basert på deres personlige verdier, utvikle kompetanse, nå mål og få tilbakemelding på sitt arbeid. Klarer arbeidsgiver å innfri på disse punktene og både skape resultater og et godt arbeidsmiljø? Emnet "Lederskap og mestring" tar utgangspunkt i evidensbasert ledelse og fokuserer på bruk av den beste tilgjengelige vitenskapelige dokumentasjon for å fremme kvaliteten på lederes og organisasjoners beslutninger og praksis. I dette emnet vil vi vise fram hva forskning sier om lederskap og mestring og oppøve studentenes evne til å praktisere evidensbasert ledelse. Samtidig ønsker vi at studentene gjennom diskusjoner og oppgaver skal lære å kjenne sitt eget lederpotensial og videreutvikle dette som en del av kurset.
Read more about Leadership and coping
Study points: 10
Emneansvarlig:
Aslaug Mikkelsen
Financial statement analysis and security valuation Year 1 / Semester 2
This course is an advanced course in financial statements and valuation at Master's level. It covers techniques of fundamental analysis, such as how financial statements are used in valuation, cash accounting, accrual accounting, forecasting, quality, risk and return. The course starts out with a thorough treatment of financial statement analysis, and covers topics such as performance evaluation and credit analysis.
Read more about Financial statement analysis and security valuation
Study points: 10
Course teacher:
Lars Atle Kjøde
Supply Chain & Lean Management Year 2 / Semester 3
The course provides an overview of Operation Management topics which is the foundation for both SupplyChain and Lean Management issues. The focus are on industrial relevant topics like SupplyChain, Lean Management, Theory of Constraints, and Industry 4.0. These issues overlap partly and will be treated in lectures, essays, presentations etc. How can management of operations contribute to a profitable company or organization. Even if most of references are from manufacturing industry, the course content and methods are relevant for service and other organizations.
Read more about Supply Chain & Lean Management
Study points: 10
Course coordinator:
Jan Frick
Valuation Year 2 / Semester 3
Case course in corporate valuation
Read more about Valuation
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Economics of Innovation Year 1 / Semester 2
Product and process innovation determine firms' growth, productivity and profitability. This course provides economic theories which are useful tools for understanding and analyzing the economic considerations of firms when they make decisions on investments in innovation processes. Such investments frequently involve substantial economic risks, and firms may also face significant challenges in appropriating all the economic returns from their investments. These and other market failures give governments a rationale to support research and development in several ways to ensure that the society undertakes sufficient investments in knowledge production and innovation. The course also analyses the roles of government and the effects of various policies and instruments on private firms' innovation processes.
Read more about Economics of Innovation
Study points: 10
Course coordinator:
Ragnar Tveterås
Choose a minor or other electives
Minor Applied Finance
Minor Applied Finance-compulsory course
Financial Economics Year 2 / Semester 3
This course provides the theoretical foundations for the field of financial economics. Key topics include the role of the financial sector, financial decision-making, valuation of financial assets, and asset price formation in the absence of arbitrage, with implications for investors and corporations. In addition, the course offers an introduction to the pricing of derivatives and risk management. Finally, the course will cover basic issues in corporate finance, such as dividend and capital structure decisions.
Read more about Financial Economics
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Minor Applied Finance-choose one course
Financial statement analysis and security valuation Year 1 / Semester 2
This course is an advanced course in financial statements and valuation at Master's level. It covers techniques of fundamental analysis, such as how financial statements are used in valuation, cash accounting, accrual accounting, forecasting, quality, risk and return. The course starts out with a thorough treatment of financial statement analysis, and covers topics such as performance evaluation and credit analysis.
Read more about Financial statement analysis and security valuation
Study points: 10
Course teacher:
Lars Atle Kjøde
Investments Year 1 / Semester 2
This course describes portfolio decisions and key aspects of financial investment taking the perspective of a fund manager. The course will cover topics such as traditional portfolio theory and fund performance. 
Read more about Investments
Study points: 10
Course coordinator:
Peter Molnar
Derivatives and Risk Management in Energy and Commodity Markets Year 1 / Semester 2
This course covers the valuation and use of options and derivatives for use in the financial, as well as energy and commodities industries. The course is divided into two parts. The first part will be an introduction to derivatives and risk management in energy and commodity markets. In the second part of the course, the students will carry out a research project of their own choosing, related to the pricing and use of derivatives.
Read more about Derivatives and Risk Management in Energy and Commodity Markets
Study points: 10
Course coordinator:
Tao Lin
Corporate Finance Year 2 / Semester 3
The course covers theory and some empirical evidence in corporate finance, with a focus on analyzing possibilities and limitations for firms to cover their financing needs.
Read more about Corporate Finance
Study points: 10
Course coordinator:
Trond Egil Olsen
Behavioral Finance Year 2 / Semester 3

Standard finans bygger på antagelsen om rasjonelle investorer som handler for å maksimere egen avkastning/nytte. Utgangspunktet i Adferdsfinans er at antagelsen om den rasjonelle investor i mange tilfeller ikke holder.

Adferdsfinans er studiet av investorers markedsatferd, hvor en benytter psykologiske prinsipper for beslutningstaking til å forklare investorenes atferd. 


Read more about Behavioral Finance
Study points: 10
Emneansvarlig:
Kristoffer Wigestrand Eriksen
Valuation Year 2 / Semester 3
Case course in corporate valuation
Read more about Valuation
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Minor Business Innovation
Minor Business Innovation-compulsory course
Perspectives on Innovation Year 2 / Semester 3
Innovation is increasingly important for the development and competitiveness of firms. Today's most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop their understanding of innovation and its role in the broader economy, as well as the factors contributing to innovation in firms. The course provides a broad introduction to the literature in innovation studies, drawing on contributions and perspectives from a variety of academic disciplines, including economics, management studies and other social sciences. It will cover current debates in the scholarly literature related to the role of innovation in the economy, different models of innovation, and perspectives on how to promote innovation both from the perspective of individual firms and policy-makers.
Read more about Perspectives on Innovation
Study points: 10
Course coordinator:
Rune Dahl Fitjar
Minor Business Innovation-choose one course
Perspectives on Innovation Year 2 / Semester 3
Innovation is increasingly important for the development and competitiveness of firms. Today's most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop their understanding of innovation and its role in the broader economy, as well as the factors contributing to innovation in firms. The course provides a broad introduction to the literature in innovation studies, drawing on contributions and perspectives from a variety of academic disciplines, including economics, management studies and other social sciences. It will cover current debates in the scholarly literature related to the role of innovation in the economy, different models of innovation, and perspectives on how to promote innovation both from the perspective of individual firms and policy-makers.
Read more about Perspectives on Innovation
Study points: 10
Course coordinator:
Rune Dahl Fitjar
Knowledge-based entrepreneurship Year 2 / Semester 3
This course examines the factors that promote entrepreneurial success in new business ventures as well as in existing companies. The course focuses on knowledge-intensive entrepreneurship, as the basis for sustained competitive advantages. Topics include idea generation and evaluation, intellectual property rights analysis, market analysis, strategy analysis, analysis of resources including knowledge resources, external networks and partnerships management, financing options and liquidity control.
Read more about Knowledge-based entrepreneurship
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Minor Economic Analysis - choose 2 courses
Business Cycle Analysis Year 2 / Semester 3
This course considers economic theory, quantitative methods and empirical insights relevant for the analysis of business cycles domestically as well as internationally. There is a particular focus on monetary policy and the interaction between business cycles and financial markets. A key feature of the course is the emphasis on present day-to-day developments in the global economy.
Read more about Business Cycle Analysis
Study points: 10
Course coordinator:
Øystein Thøgersen
Economics of Motivation Year 2 / Semester 3
What drives people to work hard? Why do we try our best in some settings, while in others we tend to slack off? In this class we explore how employees are motivated, and tools to increase employees' motivation. We apply microeconomic theory, game theory, behavioral economics and psychology to investigate topics such as incentives, intrinsic versus extrinsic motivation, peer effects, performance feedback, employer recognition, autonomy, competitiveness, reciprocity, procrastination, mindset, identity and social status.
Read more about Economics of Motivation
Study points: 10
Course coordinator:
Mari Rege
Environmental and Resource Economics Year 2 / Semester 3
This is a graduate-level applied economics course. Environmental and resource economics is a branch of economics with explicit focus on the role of the environment and natural resources in the economy. Broadly speaking, the subfield of resource economics studies the flow of resources from nature to the economy, whereas the subfield of environmental economics studies the flow of residuals from the economy into nature. Both subfields are concerned with how these flows influence economic production and human welfare. What is the best management of renewable resources (e.g. fish, forest)? What is the optimal extraction rate for non-renewable resources (e.g. oil, natural gas)? What is the appropriate level of pollution and how can it be achieved? How much is a Norwegian nature experience worth? What would be the economic cost of an oil spill off the coast of North Norway? These are some of the questions that students will learn to address (theoretically and empirically) in this course.
Read more about Environmental and Resource Economics
Study points: 10
Course coordinator:
Gorm Kipperberg
Behavioral Finance Year 2 / Semester 3

Standard finans bygger på antagelsen om rasjonelle investorer som handler for å maksimere egen avkastning/nytte. Utgangspunktet i Adferdsfinans er at antagelsen om den rasjonelle investor i mange tilfeller ikke holder.

Adferdsfinans er studiet av investorers markedsatferd, hvor en benytter psykologiske prinsipper for beslutningstaking til å forklare investorenes atferd. 


Read more about Behavioral Finance
Study points: 10
Emneansvarlig:
Kristoffer Wigestrand Eriksen
Choose 2 course in term 2 and/or 3
Business Cycle Analysis Year 2 / Semester 3
This course considers economic theory, quantitative methods and empirical insights relevant for the analysis of business cycles domestically as well as internationally. There is a particular focus on monetary policy and the interaction between business cycles and financial markets. A key feature of the course is the emphasis on present day-to-day developments in the global economy.
Read more about Business Cycle Analysis
Study points: 10
Course coordinator:
Øystein Thøgersen
Financial Economics Year 2 / Semester 3
This course provides the theoretical foundations for the field of financial economics. Key topics include the role of the financial sector, financial decision-making, valuation of financial assets, and asset price formation in the absence of arbitrage, with implications for investors and corporations. In addition, the course offers an introduction to the pricing of derivatives and risk management. Finally, the course will cover basic issues in corporate finance, such as dividend and capital structure decisions.
Read more about Financial Economics
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Corporative Law Year 2 / Semester 3
Emnet gir oversikt over sentrale selskapsrettslige spørsmål med hovedfokus på transaksjoner.
Read more about Corporative Law
Study points: 10
Emneansvarlig:
Benn Folkvord
Perspectives on Innovation Year 2 / Semester 3
Innovation is increasingly important for the development and competitiveness of firms. Today's most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop their understanding of innovation and its role in the broader economy, as well as the factors contributing to innovation in firms. The course provides a broad introduction to the literature in innovation studies, drawing on contributions and perspectives from a variety of academic disciplines, including economics, management studies and other social sciences. It will cover current debates in the scholarly literature related to the role of innovation in the economy, different models of innovation, and perspectives on how to promote innovation both from the perspective of individual firms and policy-makers.
Read more about Perspectives on Innovation
Study points: 10
Course coordinator:
Rune Dahl Fitjar
Behavioral Finance Year 2 / Semester 3

Standard finans bygger på antagelsen om rasjonelle investorer som handler for å maksimere egen avkastning/nytte. Utgangspunktet i Adferdsfinans er at antagelsen om den rasjonelle investor i mange tilfeller ikke holder.

Adferdsfinans er studiet av investorers markedsatferd, hvor en benytter psykologiske prinsipper for beslutningstaking til å forklare investorenes atferd. 


Read more about Behavioral Finance
Study points: 10
Emneansvarlig:
Kristoffer Wigestrand Eriksen
Decision analysis using Excel Year 1 / Semester 2
The course uses Excel to analyse different buisness- and microeconomic decision problems. The course focuses on analyzing real world examples to show how to solve relevant economic decision problems using Excel.
Read more about Decision analysis using Excel
Study points: 10
Course teacher:
Lars Christian Bruno
Investments Year 1 / Semester 2
This course describes portfolio decisions and key aspects of financial investment taking the perspective of a fund manager. The course will cover topics such as traditional portfolio theory and fund performance. 
Read more about Investments
Study points: 10
Course coordinator:
Peter Molnar
Empirical Labor Economics Year 1 / Semester 2
This course is designed to help students understand the principles underlying both labor demand and labor supply. The main themes include (but are not restricted to):
  • Labor supply and individual trade-offs between working and leisure
  • Parental labor force participation
  • Welfare and labor supply
  • Labor demand and firms decisions on employment
  • The effects of taxation on labor demand
  • Human capital model
  • Spence signalling model
  • Returns to education

Read more about Empirical Labor Economics
Study points: 10
Course coordinator:
Eric Perry Bettinger
Economics of Energy Markets Year 1 / Semester 2
This course is aimed at improving the understanding of the status of the global energy situation and the market outlook for various technologies and energy carriers. Lectures and curriculum literature cover conventional power generation, wind power, solar energy, oil and natural gas. Drivers of demand, supply and price formation will be explored, including their sensitivity to assumptions relating to resource scarcity, technology and innovation, economic factors, and policy variables. Finally, the course will shed light on the macroeconomic role of energy market developments for importers and exporters of energy resources.
Read more about Economics of Energy Markets
Study points: 10
Course coordinator:
Klaus Mohn
Applied game theory Year 1 / Semester 2
When people and businesses pursue their interests in competition or collaboration with others, they play a game. In a game, the players have to think through how their own choices affect the choices of others. This gives rise to strategic behavior. Game theory is the economists' theory of strategic behavior. By using game theory one can reach a deeper understanding of economic interaction. In any situation where people act strategically to achieve their goals, game theory can help us both to predict behavior, and to understand the types of outcomes that are stable, what we call equilibrium. Game theory is one of the most important analytical tools for economists today.
Read more about Applied game theory
Study points: 10
Course teacher:
Sebastian Fest
Corporate Finance Year 1 / Semester 2
The course covers theory and some empirical evidence in corporate finance, with a focus on analyzing possibilities and limitations for firms to cover their financing needs.
Read more about Corporate Finance
Study points: 10
Course coordinator:
Trond Egil Olsen
Management of Innovation Year 1 / Semester 2
Innovation is increasingly important for the development and competitiveness of firms. Today the most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop a critical perspective of the firm and the innovation process and acquire the skills to assist in managing the firm innovation process.
Read more about Management of Innovation
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Knowledge-based entrepreneurship Year 2 / Semester 3
This course examines the factors that promote entrepreneurial success in new business ventures as well as in existing companies. The course focuses on knowledge-intensive entrepreneurship, as the basis for sustained competitive advantages. Topics include idea generation and evaluation, intellectual property rights analysis, market analysis, strategy analysis, analysis of resources including knowledge resources, external networks and partnerships management, financing options and liquidity control.
Read more about Knowledge-based entrepreneurship
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Derivatives and Risk Management in Energy and Commodity Markets Year 2 / Semester 3
This course covers the valuation and use of options and derivatives for use in the financial, as well as energy and commodities industries. The course is divided into two parts. The first part will be an introduction to derivatives and risk management in energy and commodity markets. In the second part of the course, the students will carry out a research project of their own choosing, related to the pricing and use of derivatives.
Read more about Derivatives and Risk Management in Energy and Commodity Markets
Study points: 10
Course coordinator:
Tao Lin
Economics of Motivation Year 2 / Semester 3
What drives people to work hard? Why do we try our best in some settings, while in others we tend to slack off? In this class we explore how employees are motivated, and tools to increase employees' motivation. We apply microeconomic theory, game theory, behavioral economics and psychology to investigate topics such as incentives, intrinsic versus extrinsic motivation, peer effects, performance feedback, employer recognition, autonomy, competitiveness, reciprocity, procrastination, mindset, identity and social status.
Read more about Economics of Motivation
Study points: 10
Course coordinator:
Mari Rege
Environmental and Resource Economics Year 2 / Semester 3
This is a graduate-level applied economics course. Environmental and resource economics is a branch of economics with explicit focus on the role of the environment and natural resources in the economy. Broadly speaking, the subfield of resource economics studies the flow of resources from nature to the economy, whereas the subfield of environmental economics studies the flow of residuals from the economy into nature. Both subfields are concerned with how these flows influence economic production and human welfare. What is the best management of renewable resources (e.g. fish, forest)? What is the optimal extraction rate for non-renewable resources (e.g. oil, natural gas)? What is the appropriate level of pollution and how can it be achieved? How much is a Norwegian nature experience worth? What would be the economic cost of an oil spill off the coast of North Norway? These are some of the questions that students will learn to address (theoretically and empirically) in this course.
Read more about Environmental and Resource Economics
Study points: 10
Course coordinator:
Gorm Kipperberg
Leadership and coping Year 2 / Semester 3
Målet for en leder er å oppnå gode resultater for den organisasjonen eller avdelingen hun eller han skal lede samtidig som medarbeiderne trives, utvikler seg og bidrar til fellesskapets beste. Dette krever at lederen klarer å ha fokus både på strategi, konkurranseforhold, samfunnets rammebetingelser og medarbeiderne som skal stå for verdiskapningen. I dette arbeidet kan en stille spørsmål om lederen og de ansatte har felles interesser. Medarbeidere ønsker en følelse av identitet basert på deres personlige verdier, utvikle kompetanse, nå mål og få tilbakemelding på sitt arbeid. Klarer arbeidsgiver å innfri på disse punktene og både skape resultater og et godt arbeidsmiljø? Emnet "Lederskap og mestring" tar utgangspunkt i evidensbasert ledelse og fokuserer på bruk av den beste tilgjengelige vitenskapelige dokumentasjon for å fremme kvaliteten på lederes og organisasjoners beslutninger og praksis. I dette emnet vil vi vise fram hva forskning sier om lederskap og mestring og oppøve studentenes evne til å praktisere evidensbasert ledelse. Samtidig ønsker vi at studentene gjennom diskusjoner og oppgaver skal lære å kjenne sitt eget lederpotensial og videreutvikle dette som en del av kurset.
Read more about Leadership and coping
Study points: 10
Emneansvarlig:
Aslaug Mikkelsen
Financial statement analysis and security valuation Year 1 / Semester 2
This course is an advanced course in financial statements and valuation at Master's level. It covers techniques of fundamental analysis, such as how financial statements are used in valuation, cash accounting, accrual accounting, forecasting, quality, risk and return. The course starts out with a thorough treatment of financial statement analysis, and covers topics such as performance evaluation and credit analysis.
Read more about Financial statement analysis and security valuation
Study points: 10
Course teacher:
Lars Atle Kjøde
Valuation Year 2 / Semester 3
Case course in corporate valuation
Read more about Valuation
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Economics of Innovation Year 1 / Semester 2
Product and process innovation determine firms' growth, productivity and profitability. This course provides economic theories which are useful tools for understanding and analyzing the economic considerations of firms when they make decisions on investments in innovation processes. Such investments frequently involve substantial economic risks, and firms may also face significant challenges in appropriating all the economic returns from their investments. These and other market failures give governments a rationale to support research and development in several ways to ensure that the society undertakes sufficient investments in knowledge production and innovation. The course also analyses the roles of government and the effects of various policies and instruments on private firms' innovation processes.
Read more about Economics of Innovation
Study points: 10
Course coordinator:
Ragnar Tveterås
Specialization Business Innovation
Compulsory courses
Perspectives on Innovation Year 1 / Semester 1
Innovation is increasingly important for the development and competitiveness of firms. Today's most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop their understanding of innovation and its role in the broader economy, as well as the factors contributing to innovation in firms. The course provides a broad introduction to the literature in innovation studies, drawing on contributions and perspectives from a variety of academic disciplines, including economics, management studies and other social sciences. It will cover current debates in the scholarly literature related to the role of innovation in the economy, different models of innovation, and perspectives on how to promote innovation both from the perspective of individual firms and policy-makers.
Read more about Perspectives on Innovation
Study points: 10
Course coordinator:
Rune Dahl Fitjar
Economics of Innovation Year 1 / Semester 2
Product and process innovation determine firms' growth, productivity and profitability. This course provides economic theories which are useful tools for understanding and analyzing the economic considerations of firms when they make decisions on investments in innovation processes. Such investments frequently involve substantial economic risks, and firms may also face significant challenges in appropriating all the economic returns from their investments. These and other market failures give governments a rationale to support research and development in several ways to ensure that the society undertakes sufficient investments in knowledge production and innovation. The course also analyses the roles of government and the effects of various policies and instruments on private firms' innovation processes.
Read more about Economics of Innovation
Study points: 10
Course coordinator:
Ragnar Tveterås
Management of Innovation Year 1 / Semester 2
Innovation is increasingly important for the development and competitiveness of firms. Today the most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop a critical perspective of the firm and the innovation process and acquire the skills to assist in managing the firm innovation process.
Read more about Management of Innovation
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Choose 2 courses in term 2 and 3
Business Cycle Analysis Year 2 / Semester 3
This course considers economic theory, quantitative methods and empirical insights relevant for the analysis of business cycles domestically as well as internationally. There is a particular focus on monetary policy and the interaction between business cycles and financial markets. A key feature of the course is the emphasis on present day-to-day developments in the global economy.
Read more about Business Cycle Analysis
Study points: 10
Course coordinator:
Øystein Thøgersen
Financial Economics Year 2 / Semester 3
This course provides the theoretical foundations for the field of financial economics. Key topics include the role of the financial sector, financial decision-making, valuation of financial assets, and asset price formation in the absence of arbitrage, with implications for investors and corporations. In addition, the course offers an introduction to the pricing of derivatives and risk management. Finally, the course will cover basic issues in corporate finance, such as dividend and capital structure decisions.
Read more about Financial Economics
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Corporative Law Year 2 / Semester 3
Emnet gir oversikt over sentrale selskapsrettslige spørsmål med hovedfokus på transaksjoner.
Read more about Corporative Law
Study points: 10
Emneansvarlig:
Benn Folkvord
Behavioral Finance Year 2 / Semester 3

Standard finans bygger på antagelsen om rasjonelle investorer som handler for å maksimere egen avkastning/nytte. Utgangspunktet i Adferdsfinans er at antagelsen om den rasjonelle investor i mange tilfeller ikke holder.

Adferdsfinans er studiet av investorers markedsatferd, hvor en benytter psykologiske prinsipper for beslutningstaking til å forklare investorenes atferd. 


Read more about Behavioral Finance
Study points: 10
Emneansvarlig:
Kristoffer Wigestrand Eriksen
Decision analysis using Excel Year 1 / Semester 2
The course uses Excel to analyse different buisness- and microeconomic decision problems. The course focuses on analyzing real world examples to show how to solve relevant economic decision problems using Excel.
Read more about Decision analysis using Excel
Study points: 10
Course teacher:
Lars Christian Bruno
Financial statement analysis and security valuation Year 1 / Semester 2
This course is an advanced course in financial statements and valuation at Master's level. It covers techniques of fundamental analysis, such as how financial statements are used in valuation, cash accounting, accrual accounting, forecasting, quality, risk and return. The course starts out with a thorough treatment of financial statement analysis, and covers topics such as performance evaluation and credit analysis.
Read more about Financial statement analysis and security valuation
Study points: 10
Course teacher:
Lars Atle Kjøde
Investments Year 1 / Semester 2
This course describes portfolio decisions and key aspects of financial investment taking the perspective of a fund manager. The course will cover topics such as traditional portfolio theory and fund performance. 
Read more about Investments
Study points: 10
Course coordinator:
Peter Molnar
Derivatives and Risk Management in Energy and Commodity Markets Year 1 / Semester 2
This course covers the valuation and use of options and derivatives for use in the financial, as well as energy and commodities industries. The course is divided into two parts. The first part will be an introduction to derivatives and risk management in energy and commodity markets. In the second part of the course, the students will carry out a research project of their own choosing, related to the pricing and use of derivatives.
Read more about Derivatives and Risk Management in Energy and Commodity Markets
Study points: 10
Course coordinator:
Tao Lin
Marketing Strategy Year 1 / Semester 2
This course will help you become a strategic marketer. You will learn how to create, gain support for and execute marketing strategies. To a large extent the course will focus on how professional organizations, such as companies, government bodies, institutions (e.g., hospitals) and other organizations (e.g., distributors), create market value in a network of relationships.
Read more about Marketing Strategy
Study points: 10
Course coordinator:
Kenneth Henning Wathne
Empirical Labor Economics Year 1 / Semester 2
This course is designed to help students understand the principles underlying both labor demand and labor supply. The main themes include (but are not restricted to):
  • Labor supply and individual trade-offs between working and leisure
  • Parental labor force participation
  • Welfare and labor supply
  • Labor demand and firms decisions on employment
  • The effects of taxation on labor demand
  • Human capital model
  • Spence signalling model
  • Returns to education

Read more about Empirical Labor Economics
Study points: 10
Course coordinator:
Eric Perry Bettinger
Economics of Energy Markets Year 1 / Semester 2
This course is aimed at improving the understanding of the status of the global energy situation and the market outlook for various technologies and energy carriers. Lectures and curriculum literature cover conventional power generation, wind power, solar energy, oil and natural gas. Drivers of demand, supply and price formation will be explored, including their sensitivity to assumptions relating to resource scarcity, technology and innovation, economic factors, and policy variables. Finally, the course will shed light on the macroeconomic role of energy market developments for importers and exporters of energy resources.
Read more about Economics of Energy Markets
Study points: 10
Course coordinator:
Klaus Mohn
Applied game theory Year 1 / Semester 2
When people and businesses pursue their interests in competition or collaboration with others, they play a game. In a game, the players have to think through how their own choices affect the choices of others. This gives rise to strategic behavior. Game theory is the economists' theory of strategic behavior. By using game theory one can reach a deeper understanding of economic interaction. In any situation where people act strategically to achieve their goals, game theory can help us both to predict behavior, and to understand the types of outcomes that are stable, what we call equilibrium. Game theory is one of the most important analytical tools for economists today.
Read more about Applied game theory
Study points: 10
Course teacher:
Sebastian Fest
Corporate Finance Year 1 / Semester 2
The course covers theory and some empirical evidence in corporate finance, with a focus on analyzing possibilities and limitations for firms to cover their financing needs.
Read more about Corporate Finance
Study points: 10
Course coordinator:
Trond Egil Olsen
Economics of Motivation Year 2 / Semester 3
What drives people to work hard? Why do we try our best in some settings, while in others we tend to slack off? In this class we explore how employees are motivated, and tools to increase employees' motivation. We apply microeconomic theory, game theory, behavioral economics and psychology to investigate topics such as incentives, intrinsic versus extrinsic motivation, peer effects, performance feedback, employer recognition, autonomy, competitiveness, reciprocity, procrastination, mindset, identity and social status.
Read more about Economics of Motivation
Study points: 10
Course coordinator:
Mari Rege
Environmental and Resource Economics Year 2 / Semester 3
This is a graduate-level applied economics course. Environmental and resource economics is a branch of economics with explicit focus on the role of the environment and natural resources in the economy. Broadly speaking, the subfield of resource economics studies the flow of resources from nature to the economy, whereas the subfield of environmental economics studies the flow of residuals from the economy into nature. Both subfields are concerned with how these flows influence economic production and human welfare. What is the best management of renewable resources (e.g. fish, forest)? What is the optimal extraction rate for non-renewable resources (e.g. oil, natural gas)? What is the appropriate level of pollution and how can it be achieved? How much is a Norwegian nature experience worth? What would be the economic cost of an oil spill off the coast of North Norway? These are some of the questions that students will learn to address (theoretically and empirically) in this course.
Read more about Environmental and Resource Economics
Study points: 10
Course coordinator:
Gorm Kipperberg
Leadership and coping Year 2 / Semester 3
Målet for en leder er å oppnå gode resultater for den organisasjonen eller avdelingen hun eller han skal lede samtidig som medarbeiderne trives, utvikler seg og bidrar til fellesskapets beste. Dette krever at lederen klarer å ha fokus både på strategi, konkurranseforhold, samfunnets rammebetingelser og medarbeiderne som skal stå for verdiskapningen. I dette arbeidet kan en stille spørsmål om lederen og de ansatte har felles interesser. Medarbeidere ønsker en følelse av identitet basert på deres personlige verdier, utvikle kompetanse, nå mål og få tilbakemelding på sitt arbeid. Klarer arbeidsgiver å innfri på disse punktene og både skape resultater og et godt arbeidsmiljø? Emnet "Lederskap og mestring" tar utgangspunkt i evidensbasert ledelse og fokuserer på bruk av den beste tilgjengelige vitenskapelige dokumentasjon for å fremme kvaliteten på lederes og organisasjoners beslutninger og praksis. I dette emnet vil vi vise fram hva forskning sier om lederskap og mestring og oppøve studentenes evne til å praktisere evidensbasert ledelse. Samtidig ønsker vi at studentene gjennom diskusjoner og oppgaver skal lære å kjenne sitt eget lederpotensial og videreutvikle dette som en del av kurset.
Read more about Leadership and coping
Study points: 10
Emneansvarlig:
Aslaug Mikkelsen
Supply Chain & Lean Management Year 2 / Semester 3
The course provides an overview of Operation Management topics which is the foundation for both SupplyChain and Lean Management issues. The focus are on industrial relevant topics like SupplyChain, Lean Management, Theory of Constraints, and Industry 4.0. These issues overlap partly and will be treated in lectures, essays, presentations etc. How can management of operations contribute to a profitable company or organization. Even if most of references are from manufacturing industry, the course content and methods are relevant for service and other organizations.
Read more about Supply Chain & Lean Management
Study points: 10
Course coordinator:
Jan Frick
Valuation Year 2 / Semester 3
Case course in corporate valuation
Read more about Valuation
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Knowledge-based entrepreneurship Year 2 / Semester 3
This course examines the factors that promote entrepreneurial success in new business ventures as well as in existing companies. The course focuses on knowledge-intensive entrepreneurship, as the basis for sustained competitive advantages. Topics include idea generation and evaluation, intellectual property rights analysis, market analysis, strategy analysis, analysis of resources including knowledge resources, external networks and partnerships management, financing options and liquidity control.
Read more about Knowledge-based entrepreneurship
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Choose a minor or other electives
Minor Applied Finance
Minor Applied Finance-compulsory course
Financial Economics Year 2 / Semester 3
This course provides the theoretical foundations for the field of financial economics. Key topics include the role of the financial sector, financial decision-making, valuation of financial assets, and asset price formation in the absence of arbitrage, with implications for investors and corporations. In addition, the course offers an introduction to the pricing of derivatives and risk management. Finally, the course will cover basic issues in corporate finance, such as dividend and capital structure decisions.
Read more about Financial Economics
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Minor Applied Finance-choose one course
Financial statement analysis and security valuation Year 1 / Semester 2
This course is an advanced course in financial statements and valuation at Master's level. It covers techniques of fundamental analysis, such as how financial statements are used in valuation, cash accounting, accrual accounting, forecasting, quality, risk and return. The course starts out with a thorough treatment of financial statement analysis, and covers topics such as performance evaluation and credit analysis.
Read more about Financial statement analysis and security valuation
Study points: 10
Course teacher:
Lars Atle Kjøde
Investments Year 1 / Semester 2
This course describes portfolio decisions and key aspects of financial investment taking the perspective of a fund manager. The course will cover topics such as traditional portfolio theory and fund performance. 
Read more about Investments
Study points: 10
Course coordinator:
Peter Molnar
Derivatives and Risk Management in Energy and Commodity Markets Year 1 / Semester 2
This course covers the valuation and use of options and derivatives for use in the financial, as well as energy and commodities industries. The course is divided into two parts. The first part will be an introduction to derivatives and risk management in energy and commodity markets. In the second part of the course, the students will carry out a research project of their own choosing, related to the pricing and use of derivatives.
Read more about Derivatives and Risk Management in Energy and Commodity Markets
Study points: 10
Course coordinator:
Tao Lin
Corporate Finance Year 2 / Semester 3
The course covers theory and some empirical evidence in corporate finance, with a focus on analyzing possibilities and limitations for firms to cover their financing needs.
Read more about Corporate Finance
Study points: 10
Course coordinator:
Trond Egil Olsen
Behavioral Finance Year 2 / Semester 3

Standard finans bygger på antagelsen om rasjonelle investorer som handler for å maksimere egen avkastning/nytte. Utgangspunktet i Adferdsfinans er at antagelsen om den rasjonelle investor i mange tilfeller ikke holder.

Adferdsfinans er studiet av investorers markedsatferd, hvor en benytter psykologiske prinsipper for beslutningstaking til å forklare investorenes atferd. 


Read more about Behavioral Finance
Study points: 10
Emneansvarlig:
Kristoffer Wigestrand Eriksen
Valuation Year 2 / Semester 3
Case course in corporate valuation
Read more about Valuation
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Minor Economic Analysis - choose 2 courses
Business Cycle Analysis Year 2 / Semester 3
This course considers economic theory, quantitative methods and empirical insights relevant for the analysis of business cycles domestically as well as internationally. There is a particular focus on monetary policy and the interaction between business cycles and financial markets. A key feature of the course is the emphasis on present day-to-day developments in the global economy.
Read more about Business Cycle Analysis
Study points: 10
Course coordinator:
Øystein Thøgersen
Economics of Motivation Year 2 / Semester 3
What drives people to work hard? Why do we try our best in some settings, while in others we tend to slack off? In this class we explore how employees are motivated, and tools to increase employees' motivation. We apply microeconomic theory, game theory, behavioral economics and psychology to investigate topics such as incentives, intrinsic versus extrinsic motivation, peer effects, performance feedback, employer recognition, autonomy, competitiveness, reciprocity, procrastination, mindset, identity and social status.
Read more about Economics of Motivation
Study points: 10
Course coordinator:
Mari Rege
Environmental and Resource Economics Year 2 / Semester 3
This is a graduate-level applied economics course. Environmental and resource economics is a branch of economics with explicit focus on the role of the environment and natural resources in the economy. Broadly speaking, the subfield of resource economics studies the flow of resources from nature to the economy, whereas the subfield of environmental economics studies the flow of residuals from the economy into nature. Both subfields are concerned with how these flows influence economic production and human welfare. What is the best management of renewable resources (e.g. fish, forest)? What is the optimal extraction rate for non-renewable resources (e.g. oil, natural gas)? What is the appropriate level of pollution and how can it be achieved? How much is a Norwegian nature experience worth? What would be the economic cost of an oil spill off the coast of North Norway? These are some of the questions that students will learn to address (theoretically and empirically) in this course.
Read more about Environmental and Resource Economics
Study points: 10
Course coordinator:
Gorm Kipperberg
Behavioral Finance Year 2 / Semester 3

Standard finans bygger på antagelsen om rasjonelle investorer som handler for å maksimere egen avkastning/nytte. Utgangspunktet i Adferdsfinans er at antagelsen om den rasjonelle investor i mange tilfeller ikke holder.

Adferdsfinans er studiet av investorers markedsatferd, hvor en benytter psykologiske prinsipper for beslutningstaking til å forklare investorenes atferd. 


Read more about Behavioral Finance
Study points: 10
Emneansvarlig:
Kristoffer Wigestrand Eriksen
Choose 2 courses in term 2 and 3
Business Cycle Analysis Year 2 / Semester 3
This course considers economic theory, quantitative methods and empirical insights relevant for the analysis of business cycles domestically as well as internationally. There is a particular focus on monetary policy and the interaction between business cycles and financial markets. A key feature of the course is the emphasis on present day-to-day developments in the global economy.
Read more about Business Cycle Analysis
Study points: 10
Course coordinator:
Øystein Thøgersen
Financial Economics Year 2 / Semester 3
This course provides the theoretical foundations for the field of financial economics. Key topics include the role of the financial sector, financial decision-making, valuation of financial assets, and asset price formation in the absence of arbitrage, with implications for investors and corporations. In addition, the course offers an introduction to the pricing of derivatives and risk management. Finally, the course will cover basic issues in corporate finance, such as dividend and capital structure decisions.
Read more about Financial Economics
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Corporative Law Year 2 / Semester 3
Emnet gir oversikt over sentrale selskapsrettslige spørsmål med hovedfokus på transaksjoner.
Read more about Corporative Law
Study points: 10
Emneansvarlig:
Benn Folkvord
Behavioral Finance Year 2 / Semester 3

Standard finans bygger på antagelsen om rasjonelle investorer som handler for å maksimere egen avkastning/nytte. Utgangspunktet i Adferdsfinans er at antagelsen om den rasjonelle investor i mange tilfeller ikke holder.

Adferdsfinans er studiet av investorers markedsatferd, hvor en benytter psykologiske prinsipper for beslutningstaking til å forklare investorenes atferd. 


Read more about Behavioral Finance
Study points: 10
Emneansvarlig:
Kristoffer Wigestrand Eriksen
Decision analysis using Excel Year 1 / Semester 2
The course uses Excel to analyse different buisness- and microeconomic decision problems. The course focuses on analyzing real world examples to show how to solve relevant economic decision problems using Excel.
Read more about Decision analysis using Excel
Study points: 10
Course teacher:
Lars Christian Bruno
Financial statement analysis and security valuation Year 1 / Semester 2
This course is an advanced course in financial statements and valuation at Master's level. It covers techniques of fundamental analysis, such as how financial statements are used in valuation, cash accounting, accrual accounting, forecasting, quality, risk and return. The course starts out with a thorough treatment of financial statement analysis, and covers topics such as performance evaluation and credit analysis.
Read more about Financial statement analysis and security valuation
Study points: 10
Course teacher:
Lars Atle Kjøde
Investments Year 1 / Semester 2
This course describes portfolio decisions and key aspects of financial investment taking the perspective of a fund manager. The course will cover topics such as traditional portfolio theory and fund performance. 
Read more about Investments
Study points: 10
Course coordinator:
Peter Molnar
Marketing Strategy Year 1 / Semester 2
This course will help you become a strategic marketer. You will learn how to create, gain support for and execute marketing strategies. To a large extent the course will focus on how professional organizations, such as companies, government bodies, institutions (e.g., hospitals) and other organizations (e.g., distributors), create market value in a network of relationships.
Read more about Marketing Strategy
Study points: 10
Course coordinator:
Kenneth Henning Wathne
Empirical Labor Economics Year 1 / Semester 2
This course is designed to help students understand the principles underlying both labor demand and labor supply. The main themes include (but are not restricted to):
  • Labor supply and individual trade-offs between working and leisure
  • Parental labor force participation
  • Welfare and labor supply
  • Labor demand and firms decisions on employment
  • The effects of taxation on labor demand
  • Human capital model
  • Spence signalling model
  • Returns to education

Read more about Empirical Labor Economics
Study points: 10
Course coordinator:
Eric Perry Bettinger
Economics of Energy Markets Year 1 / Semester 2
This course is aimed at improving the understanding of the status of the global energy situation and the market outlook for various technologies and energy carriers. Lectures and curriculum literature cover conventional power generation, wind power, solar energy, oil and natural gas. Drivers of demand, supply and price formation will be explored, including their sensitivity to assumptions relating to resource scarcity, technology and innovation, economic factors, and policy variables. Finally, the course will shed light on the macroeconomic role of energy market developments for importers and exporters of energy resources.
Read more about Economics of Energy Markets
Study points: 10
Course coordinator:
Klaus Mohn
Applied game theory Year 1 / Semester 2
When people and businesses pursue their interests in competition or collaboration with others, they play a game. In a game, the players have to think through how their own choices affect the choices of others. This gives rise to strategic behavior. Game theory is the economists' theory of strategic behavior. By using game theory one can reach a deeper understanding of economic interaction. In any situation where people act strategically to achieve their goals, game theory can help us both to predict behavior, and to understand the types of outcomes that are stable, what we call equilibrium. Game theory is one of the most important analytical tools for economists today.
Read more about Applied game theory
Study points: 10
Course teacher:
Sebastian Fest
Corporate Finance Year 1 / Semester 2
The course covers theory and some empirical evidence in corporate finance, with a focus on analyzing possibilities and limitations for firms to cover their financing needs.
Read more about Corporate Finance
Study points: 10
Course coordinator:
Trond Egil Olsen
Derivatives and Risk Management in Energy and Commodity Markets Year 2 / Semester 3
This course covers the valuation and use of options and derivatives for use in the financial, as well as energy and commodities industries. The course is divided into two parts. The first part will be an introduction to derivatives and risk management in energy and commodity markets. In the second part of the course, the students will carry out a research project of their own choosing, related to the pricing and use of derivatives.
Read more about Derivatives and Risk Management in Energy and Commodity Markets
Study points: 10
Course coordinator:
Tao Lin
Economics of Motivation Year 2 / Semester 3
What drives people to work hard? Why do we try our best in some settings, while in others we tend to slack off? In this class we explore how employees are motivated, and tools to increase employees' motivation. We apply microeconomic theory, game theory, behavioral economics and psychology to investigate topics such as incentives, intrinsic versus extrinsic motivation, peer effects, performance feedback, employer recognition, autonomy, competitiveness, reciprocity, procrastination, mindset, identity and social status.
Read more about Economics of Motivation
Study points: 10
Course coordinator:
Mari Rege
Environmental and Resource Economics Year 2 / Semester 3
This is a graduate-level applied economics course. Environmental and resource economics is a branch of economics with explicit focus on the role of the environment and natural resources in the economy. Broadly speaking, the subfield of resource economics studies the flow of resources from nature to the economy, whereas the subfield of environmental economics studies the flow of residuals from the economy into nature. Both subfields are concerned with how these flows influence economic production and human welfare. What is the best management of renewable resources (e.g. fish, forest)? What is the optimal extraction rate for non-renewable resources (e.g. oil, natural gas)? What is the appropriate level of pollution and how can it be achieved? How much is a Norwegian nature experience worth? What would be the economic cost of an oil spill off the coast of North Norway? These are some of the questions that students will learn to address (theoretically and empirically) in this course.
Read more about Environmental and Resource Economics
Study points: 10
Course coordinator:
Gorm Kipperberg
Leadership and coping Year 2 / Semester 3
Målet for en leder er å oppnå gode resultater for den organisasjonen eller avdelingen hun eller han skal lede samtidig som medarbeiderne trives, utvikler seg og bidrar til fellesskapets beste. Dette krever at lederen klarer å ha fokus både på strategi, konkurranseforhold, samfunnets rammebetingelser og medarbeiderne som skal stå for verdiskapningen. I dette arbeidet kan en stille spørsmål om lederen og de ansatte har felles interesser. Medarbeidere ønsker en følelse av identitet basert på deres personlige verdier, utvikle kompetanse, nå mål og få tilbakemelding på sitt arbeid. Klarer arbeidsgiver å innfri på disse punktene og både skape resultater og et godt arbeidsmiljø? Emnet "Lederskap og mestring" tar utgangspunkt i evidensbasert ledelse og fokuserer på bruk av den beste tilgjengelige vitenskapelige dokumentasjon for å fremme kvaliteten på lederes og organisasjoners beslutninger og praksis. I dette emnet vil vi vise fram hva forskning sier om lederskap og mestring og oppøve studentenes evne til å praktisere evidensbasert ledelse. Samtidig ønsker vi at studentene gjennom diskusjoner og oppgaver skal lære å kjenne sitt eget lederpotensial og videreutvikle dette som en del av kurset.
Read more about Leadership and coping
Study points: 10
Emneansvarlig:
Aslaug Mikkelsen
Supply Chain & Lean Management Year 2 / Semester 3
The course provides an overview of Operation Management topics which is the foundation for both SupplyChain and Lean Management issues. The focus are on industrial relevant topics like SupplyChain, Lean Management, Theory of Constraints, and Industry 4.0. These issues overlap partly and will be treated in lectures, essays, presentations etc. How can management of operations contribute to a profitable company or organization. Even if most of references are from manufacturing industry, the course content and methods are relevant for service and other organizations.
Read more about Supply Chain & Lean Management
Study points: 10
Course coordinator:
Jan Frick
Valuation Year 2 / Semester 3
Case course in corporate valuation
Read more about Valuation
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Knowledge-based entrepreneurship Year 2 / Semester 3
This course examines the factors that promote entrepreneurial success in new business ventures as well as in existing companies. The course focuses on knowledge-intensive entrepreneurship, as the basis for sustained competitive advantages. Topics include idea generation and evaluation, intellectual property rights analysis, market analysis, strategy analysis, analysis of resources including knowledge resources, external networks and partnerships management, financing options and liquidity control.
Read more about Knowledge-based entrepreneurship
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Specialization Economics
Compulsory course
Business Cycle Analysis Year 1 / Semester 1
This course considers economic theory, quantitative methods and empirical insights relevant for the analysis of business cycles domestically as well as internationally. There is a particular focus on monetary policy and the interaction between business cycles and financial markets. A key feature of the course is the emphasis on present day-to-day developments in the global economy.
Read more about Business Cycle Analysis
Study points: 10
Course coordinator:
Øystein Thøgersen
Selection 1: Choose 3 courses in term 2 and 3
Empirical Labor Economics Year 1 / Semester 2
This course is designed to help students understand the principles underlying both labor demand and labor supply. The main themes include (but are not restricted to):
  • Labor supply and individual trade-offs between working and leisure
  • Parental labor force participation
  • Welfare and labor supply
  • Labor demand and firms decisions on employment
  • The effects of taxation on labor demand
  • Human capital model
  • Spence signalling model
  • Returns to education

Read more about Empirical Labor Economics
Study points: 10
Course coordinator:
Eric Perry Bettinger
Economics of Energy Markets Year 1 / Semester 2
This course is aimed at improving the understanding of the status of the global energy situation and the market outlook for various technologies and energy carriers. Lectures and curriculum literature cover conventional power generation, wind power, solar energy, oil and natural gas. Drivers of demand, supply and price formation will be explored, including their sensitivity to assumptions relating to resource scarcity, technology and innovation, economic factors, and policy variables. Finally, the course will shed light on the macroeconomic role of energy market developments for importers and exporters of energy resources.
Read more about Economics of Energy Markets
Study points: 10
Course coordinator:
Klaus Mohn
Applied game theory Year 1 / Semester 2
When people and businesses pursue their interests in competition or collaboration with others, they play a game. In a game, the players have to think through how their own choices affect the choices of others. This gives rise to strategic behavior. Game theory is the economists' theory of strategic behavior. By using game theory one can reach a deeper understanding of economic interaction. In any situation where people act strategically to achieve their goals, game theory can help us both to predict behavior, and to understand the types of outcomes that are stable, what we call equilibrium. Game theory is one of the most important analytical tools for economists today.
Read more about Applied game theory
Study points: 10
Course teacher:
Sebastian Fest
Economics of Motivation Year 2 / Semester 3
What drives people to work hard? Why do we try our best in some settings, while in others we tend to slack off? In this class we explore how employees are motivated, and tools to increase employees' motivation. We apply microeconomic theory, game theory, behavioral economics and psychology to investigate topics such as incentives, intrinsic versus extrinsic motivation, peer effects, performance feedback, employer recognition, autonomy, competitiveness, reciprocity, procrastination, mindset, identity and social status.
Read more about Economics of Motivation
Study points: 10
Course coordinator:
Mari Rege
Environmental and Resource Economics Year 2 / Semester 3
This is a graduate-level applied economics course. Environmental and resource economics is a branch of economics with explicit focus on the role of the environment and natural resources in the economy. Broadly speaking, the subfield of resource economics studies the flow of resources from nature to the economy, whereas the subfield of environmental economics studies the flow of residuals from the economy into nature. Both subfields are concerned with how these flows influence economic production and human welfare. What is the best management of renewable resources (e.g. fish, forest)? What is the optimal extraction rate for non-renewable resources (e.g. oil, natural gas)? What is the appropriate level of pollution and how can it be achieved? How much is a Norwegian nature experience worth? What would be the economic cost of an oil spill off the coast of North Norway? These are some of the questions that students will learn to address (theoretically and empirically) in this course.
Read more about Environmental and Resource Economics
Study points: 10
Course coordinator:
Gorm Kipperberg
Selection 2: Choose 1 course in term 2 or 3
Decision analysis using Excel Year 1 / Semester 2
The course uses Excel to analyse different buisness- and microeconomic decision problems. The course focuses on analyzing real world examples to show how to solve relevant economic decision problems using Excel.
Read more about Decision analysis using Excel
Study points: 10
Course teacher:
Lars Christian Bruno
Financial statement analysis and security valuation Year 1 / Semester 2
This course is an advanced course in financial statements and valuation at Master's level. It covers techniques of fundamental analysis, such as how financial statements are used in valuation, cash accounting, accrual accounting, forecasting, quality, risk and return. The course starts out with a thorough treatment of financial statement analysis, and covers topics such as performance evaluation and credit analysis.
Read more about Financial statement analysis and security valuation
Study points: 10
Course teacher:
Lars Atle Kjøde
Investments Year 1 / Semester 2
This course describes portfolio decisions and key aspects of financial investment taking the perspective of a fund manager. The course will cover topics such as traditional portfolio theory and fund performance. 
Read more about Investments
Study points: 10
Course coordinator:
Peter Molnar
Derivatives and Risk Management in Energy and Commodity Markets Year 1 / Semester 2
This course covers the valuation and use of options and derivatives for use in the financial, as well as energy and commodities industries. The course is divided into two parts. The first part will be an introduction to derivatives and risk management in energy and commodity markets. In the second part of the course, the students will carry out a research project of their own choosing, related to the pricing and use of derivatives.
Read more about Derivatives and Risk Management in Energy and Commodity Markets
Study points: 10
Course coordinator:
Tao Lin
Marketing Strategy Year 1 / Semester 2
This course will help you become a strategic marketer. You will learn how to create, gain support for and execute marketing strategies. To a large extent the course will focus on how professional organizations, such as companies, government bodies, institutions (e.g., hospitals) and other organizations (e.g., distributors), create market value in a network of relationships.
Read more about Marketing Strategy
Study points: 10
Course coordinator:
Kenneth Henning Wathne
Corporate Finance Year 1 / Semester 2
The course covers theory and some empirical evidence in corporate finance, with a focus on analyzing possibilities and limitations for firms to cover their financing needs.
Read more about Corporate Finance
Study points: 10
Course coordinator:
Trond Egil Olsen
Economics of Innovation Year 1 / Semester 2
Product and process innovation determine firms' growth, productivity and profitability. This course provides economic theories which are useful tools for understanding and analyzing the economic considerations of firms when they make decisions on investments in innovation processes. Such investments frequently involve substantial economic risks, and firms may also face significant challenges in appropriating all the economic returns from their investments. These and other market failures give governments a rationale to support research and development in several ways to ensure that the society undertakes sufficient investments in knowledge production and innovation. The course also analyses the roles of government and the effects of various policies and instruments on private firms' innovation processes.
Read more about Economics of Innovation
Study points: 10
Course coordinator:
Ragnar Tveterås
Management of Innovation Year 1 / Semester 2
Innovation is increasingly important for the development and competitiveness of firms. Today the most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop a critical perspective of the firm and the innovation process and acquire the skills to assist in managing the firm innovation process.
Read more about Management of Innovation
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Financial Economics Year 2 / Semester 3
This course provides the theoretical foundations for the field of financial economics. Key topics include the role of the financial sector, financial decision-making, valuation of financial assets, and asset price formation in the absence of arbitrage, with implications for investors and corporations. In addition, the course offers an introduction to the pricing of derivatives and risk management. Finally, the course will cover basic issues in corporate finance, such as dividend and capital structure decisions.
Read more about Financial Economics
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Corporative Law Year 2 / Semester 3
Emnet gir oversikt over sentrale selskapsrettslige spørsmål med hovedfokus på transaksjoner.
Read more about Corporative Law
Study points: 10
Emneansvarlig:
Benn Folkvord
Leadership and coping Year 2 / Semester 3
Målet for en leder er å oppnå gode resultater for den organisasjonen eller avdelingen hun eller han skal lede samtidig som medarbeiderne trives, utvikler seg og bidrar til fellesskapets beste. Dette krever at lederen klarer å ha fokus både på strategi, konkurranseforhold, samfunnets rammebetingelser og medarbeiderne som skal stå for verdiskapningen. I dette arbeidet kan en stille spørsmål om lederen og de ansatte har felles interesser. Medarbeidere ønsker en følelse av identitet basert på deres personlige verdier, utvikle kompetanse, nå mål og få tilbakemelding på sitt arbeid. Klarer arbeidsgiver å innfri på disse punktene og både skape resultater og et godt arbeidsmiljø? Emnet "Lederskap og mestring" tar utgangspunkt i evidensbasert ledelse og fokuserer på bruk av den beste tilgjengelige vitenskapelige dokumentasjon for å fremme kvaliteten på lederes og organisasjoners beslutninger og praksis. I dette emnet vil vi vise fram hva forskning sier om lederskap og mestring og oppøve studentenes evne til å praktisere evidensbasert ledelse. Samtidig ønsker vi at studentene gjennom diskusjoner og oppgaver skal lære å kjenne sitt eget lederpotensial og videreutvikle dette som en del av kurset.
Read more about Leadership and coping
Study points: 10
Emneansvarlig:
Aslaug Mikkelsen
Strategy Year 2 / Semester 3

Strategy is initially a military discipline; it is about winning the battle. In our context, it is pertains to how an organization can develop and maintain competitive advantage to their competitors in a free market economy. The approach to the subject often focuses on analytical tools and theoretical models. This approach is, however, a bit challenging, as indicated by the saying from the American psychologist Abraham Maslow: "If the only tool you have is a hammer, any problem will be treated as a nail."

From this point of view, strategy can be approached from the reasoning that knowledge of how to apply the tools comes first, and the combination of models and analytical tools in order to solve the real problems comes later. If you have a toolbox and the knowledge to apply the tools, you can easily solve practical strategic phenomena in real life.

An opposite approach is that strategy is problem initiated in the sense that the problems have to be first understood and acknowledged before opening the toolbox. This course emphasizes an understanding of the strategic issues and phenomena, before applying the tools. This is because we argue that strategic issues are complex and "wicked", and critical thinking about realities is required before choosing the right tool. We thus start with the strategic issues and continue with different theories and models to shed light on the issues.


Read more about Strategy
Study points: 10
Course teacher:
Irene Grastveit
Supply Chain & Lean Management Year 2 / Semester 3
The course provides an overview of Operation Management topics which is the foundation for both SupplyChain and Lean Management issues. The focus are on industrial relevant topics like SupplyChain, Lean Management, Theory of Constraints, and Industry 4.0. These issues overlap partly and will be treated in lectures, essays, presentations etc. How can management of operations contribute to a profitable company or organization. Even if most of references are from manufacturing industry, the course content and methods are relevant for service and other organizations.
Read more about Supply Chain & Lean Management
Study points: 10
Course coordinator:
Jan Frick
Perspectives on Innovation Year 2 / Semester 3
Innovation is increasingly important for the development and competitiveness of firms. Today's most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop their understanding of innovation and its role in the broader economy, as well as the factors contributing to innovation in firms. The course provides a broad introduction to the literature in innovation studies, drawing on contributions and perspectives from a variety of academic disciplines, including economics, management studies and other social sciences. It will cover current debates in the scholarly literature related to the role of innovation in the economy, different models of innovation, and perspectives on how to promote innovation both from the perspective of individual firms and policy-makers.
Read more about Perspectives on Innovation
Study points: 10
Course coordinator:
Rune Dahl Fitjar
Behavioral Finance Year 2 / Semester 3

Standard finans bygger på antagelsen om rasjonelle investorer som handler for å maksimere egen avkastning/nytte. Utgangspunktet i Adferdsfinans er at antagelsen om den rasjonelle investor i mange tilfeller ikke holder.

Adferdsfinans er studiet av investorers markedsatferd, hvor en benytter psykologiske prinsipper for beslutningstaking til å forklare investorenes atferd. 


Read more about Behavioral Finance
Study points: 10
Emneansvarlig:
Kristoffer Wigestrand Eriksen
Valuation Year 2 / Semester 3
Case course in corporate valuation
Read more about Valuation
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Knowledge-based entrepreneurship Year 2 / Semester 3
This course examines the factors that promote entrepreneurial success in new business ventures as well as in existing companies. The course focuses on knowledge-intensive entrepreneurship, as the basis for sustained competitive advantages. Topics include idea generation and evaluation, intellectual property rights analysis, market analysis, strategy analysis, analysis of resources including knowledge resources, external networks and partnerships management, financing options and liquidity control.
Read more about Knowledge-based entrepreneurship
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Choose a minor or other electives
Minor Business Innovation
Minor Business Innovation-compulsory course
Perspectives on Innovation Year 2 / Semester 3
Innovation is increasingly important for the development and competitiveness of firms. Today's most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop their understanding of innovation and its role in the broader economy, as well as the factors contributing to innovation in firms. The course provides a broad introduction to the literature in innovation studies, drawing on contributions and perspectives from a variety of academic disciplines, including economics, management studies and other social sciences. It will cover current debates in the scholarly literature related to the role of innovation in the economy, different models of innovation, and perspectives on how to promote innovation both from the perspective of individual firms and policy-makers.
Read more about Perspectives on Innovation
Study points: 10
Course coordinator:
Rune Dahl Fitjar
Minor Business Innovation-choose one course
Perspectives on Innovation Year 2 / Semester 3
Innovation is increasingly important for the development and competitiveness of firms. Today's most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop their understanding of innovation and its role in the broader economy, as well as the factors contributing to innovation in firms. The course provides a broad introduction to the literature in innovation studies, drawing on contributions and perspectives from a variety of academic disciplines, including economics, management studies and other social sciences. It will cover current debates in the scholarly literature related to the role of innovation in the economy, different models of innovation, and perspectives on how to promote innovation both from the perspective of individual firms and policy-makers.
Read more about Perspectives on Innovation
Study points: 10
Course coordinator:
Rune Dahl Fitjar
Knowledge-based entrepreneurship Year 2 / Semester 3
This course examines the factors that promote entrepreneurial success in new business ventures as well as in existing companies. The course focuses on knowledge-intensive entrepreneurship, as the basis for sustained competitive advantages. Topics include idea generation and evaluation, intellectual property rights analysis, market analysis, strategy analysis, analysis of resources including knowledge resources, external networks and partnerships management, financing options and liquidity control.
Read more about Knowledge-based entrepreneurship
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Minor Applied Finance
Minor Applied Finance-compulsory course
Financial Economics Year 2 / Semester 3
This course provides the theoretical foundations for the field of financial economics. Key topics include the role of the financial sector, financial decision-making, valuation of financial assets, and asset price formation in the absence of arbitrage, with implications for investors and corporations. In addition, the course offers an introduction to the pricing of derivatives and risk management. Finally, the course will cover basic issues in corporate finance, such as dividend and capital structure decisions.
Read more about Financial Economics
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Minor Applied Finance-choose one course
Financial statement analysis and security valuation Year 1 / Semester 2
This course is an advanced course in financial statements and valuation at Master's level. It covers techniques of fundamental analysis, such as how financial statements are used in valuation, cash accounting, accrual accounting, forecasting, quality, risk and return. The course starts out with a thorough treatment of financial statement analysis, and covers topics such as performance evaluation and credit analysis.
Read more about Financial statement analysis and security valuation
Study points: 10
Course teacher:
Lars Atle Kjøde
Investments Year 1 / Semester 2
This course describes portfolio decisions and key aspects of financial investment taking the perspective of a fund manager. The course will cover topics such as traditional portfolio theory and fund performance. 
Read more about Investments
Study points: 10
Course coordinator:
Peter Molnar
Derivatives and Risk Management in Energy and Commodity Markets Year 1 / Semester 2
This course covers the valuation and use of options and derivatives for use in the financial, as well as energy and commodities industries. The course is divided into two parts. The first part will be an introduction to derivatives and risk management in energy and commodity markets. In the second part of the course, the students will carry out a research project of their own choosing, related to the pricing and use of derivatives.
Read more about Derivatives and Risk Management in Energy and Commodity Markets
Study points: 10
Course coordinator:
Tao Lin
Corporate Finance Year 2 / Semester 3
The course covers theory and some empirical evidence in corporate finance, with a focus on analyzing possibilities and limitations for firms to cover their financing needs.
Read more about Corporate Finance
Study points: 10
Course coordinator:
Trond Egil Olsen
Behavioral Finance Year 2 / Semester 3

Standard finans bygger på antagelsen om rasjonelle investorer som handler for å maksimere egen avkastning/nytte. Utgangspunktet i Adferdsfinans er at antagelsen om den rasjonelle investor i mange tilfeller ikke holder.

Adferdsfinans er studiet av investorers markedsatferd, hvor en benytter psykologiske prinsipper for beslutningstaking til å forklare investorenes atferd. 


Read more about Behavioral Finance
Study points: 10
Emneansvarlig:
Kristoffer Wigestrand Eriksen
Valuation Year 2 / Semester 3
Case course in corporate valuation
Read more about Valuation
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Choose 2 courses in term 2 and/or 3
Decision analysis using Excel Year 1 / Semester 2
The course uses Excel to analyse different buisness- and microeconomic decision problems. The course focuses on analyzing real world examples to show how to solve relevant economic decision problems using Excel.
Read more about Decision analysis using Excel
Study points: 10
Course teacher:
Lars Christian Bruno
Financial statement analysis and security valuation Year 1 / Semester 2
This course is an advanced course in financial statements and valuation at Master's level. It covers techniques of fundamental analysis, such as how financial statements are used in valuation, cash accounting, accrual accounting, forecasting, quality, risk and return. The course starts out with a thorough treatment of financial statement analysis, and covers topics such as performance evaluation and credit analysis.
Read more about Financial statement analysis and security valuation
Study points: 10
Course teacher:
Lars Atle Kjøde
Investments Year 1 / Semester 2
This course describes portfolio decisions and key aspects of financial investment taking the perspective of a fund manager. The course will cover topics such as traditional portfolio theory and fund performance. 
Read more about Investments
Study points: 10
Course coordinator:
Peter Molnar
Marketing Strategy Year 1 / Semester 2
This course will help you become a strategic marketer. You will learn how to create, gain support for and execute marketing strategies. To a large extent the course will focus on how professional organizations, such as companies, government bodies, institutions (e.g., hospitals) and other organizations (e.g., distributors), create market value in a network of relationships.
Read more about Marketing Strategy
Study points: 10
Course coordinator:
Kenneth Henning Wathne
Corporate Finance Year 1 / Semester 2
The course covers theory and some empirical evidence in corporate finance, with a focus on analyzing possibilities and limitations for firms to cover their financing needs.
Read more about Corporate Finance
Study points: 10
Course coordinator:
Trond Egil Olsen
Economics of Innovation Year 1 / Semester 2
Product and process innovation determine firms' growth, productivity and profitability. This course provides economic theories which are useful tools for understanding and analyzing the economic considerations of firms when they make decisions on investments in innovation processes. Such investments frequently involve substantial economic risks, and firms may also face significant challenges in appropriating all the economic returns from their investments. These and other market failures give governments a rationale to support research and development in several ways to ensure that the society undertakes sufficient investments in knowledge production and innovation. The course also analyses the roles of government and the effects of various policies and instruments on private firms' innovation processes.
Read more about Economics of Innovation
Study points: 10
Course coordinator:
Ragnar Tveterås
Management of Innovation Year 1 / Semester 2
Innovation is increasingly important for the development and competitiveness of firms. Today the most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop a critical perspective of the firm and the innovation process and acquire the skills to assist in managing the firm innovation process.
Read more about Management of Innovation
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Financial Economics Year 2 / Semester 3
This course provides the theoretical foundations for the field of financial economics. Key topics include the role of the financial sector, financial decision-making, valuation of financial assets, and asset price formation in the absence of arbitrage, with implications for investors and corporations. In addition, the course offers an introduction to the pricing of derivatives and risk management. Finally, the course will cover basic issues in corporate finance, such as dividend and capital structure decisions.
Read more about Financial Economics
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Derivatives and Risk Management in Energy and Commodity Markets Year 2 / Semester 3
This course covers the valuation and use of options and derivatives for use in the financial, as well as energy and commodities industries. The course is divided into two parts. The first part will be an introduction to derivatives and risk management in energy and commodity markets. In the second part of the course, the students will carry out a research project of their own choosing, related to the pricing and use of derivatives.
Read more about Derivatives and Risk Management in Energy and Commodity Markets
Study points: 10
Course coordinator:
Tao Lin
Corporative Law Year 2 / Semester 3
Emnet gir oversikt over sentrale selskapsrettslige spørsmål med hovedfokus på transaksjoner.
Read more about Corporative Law
Study points: 10
Emneansvarlig:
Benn Folkvord
Leadership and coping Year 2 / Semester 3
Målet for en leder er å oppnå gode resultater for den organisasjonen eller avdelingen hun eller han skal lede samtidig som medarbeiderne trives, utvikler seg og bidrar til fellesskapets beste. Dette krever at lederen klarer å ha fokus både på strategi, konkurranseforhold, samfunnets rammebetingelser og medarbeiderne som skal stå for verdiskapningen. I dette arbeidet kan en stille spørsmål om lederen og de ansatte har felles interesser. Medarbeidere ønsker en følelse av identitet basert på deres personlige verdier, utvikle kompetanse, nå mål og få tilbakemelding på sitt arbeid. Klarer arbeidsgiver å innfri på disse punktene og både skape resultater og et godt arbeidsmiljø? Emnet "Lederskap og mestring" tar utgangspunkt i evidensbasert ledelse og fokuserer på bruk av den beste tilgjengelige vitenskapelige dokumentasjon for å fremme kvaliteten på lederes og organisasjoners beslutninger og praksis. I dette emnet vil vi vise fram hva forskning sier om lederskap og mestring og oppøve studentenes evne til å praktisere evidensbasert ledelse. Samtidig ønsker vi at studentene gjennom diskusjoner og oppgaver skal lære å kjenne sitt eget lederpotensial og videreutvikle dette som en del av kurset.
Read more about Leadership and coping
Study points: 10
Emneansvarlig:
Aslaug Mikkelsen
Strategy Year 2 / Semester 3

Strategy is initially a military discipline; it is about winning the battle. In our context, it is pertains to how an organization can develop and maintain competitive advantage to their competitors in a free market economy. The approach to the subject often focuses on analytical tools and theoretical models. This approach is, however, a bit challenging, as indicated by the saying from the American psychologist Abraham Maslow: "If the only tool you have is a hammer, any problem will be treated as a nail."

From this point of view, strategy can be approached from the reasoning that knowledge of how to apply the tools comes first, and the combination of models and analytical tools in order to solve the real problems comes later. If you have a toolbox and the knowledge to apply the tools, you can easily solve practical strategic phenomena in real life.

An opposite approach is that strategy is problem initiated in the sense that the problems have to be first understood and acknowledged before opening the toolbox. This course emphasizes an understanding of the strategic issues and phenomena, before applying the tools. This is because we argue that strategic issues are complex and "wicked", and critical thinking about realities is required before choosing the right tool. We thus start with the strategic issues and continue with different theories and models to shed light on the issues.


Read more about Strategy
Study points: 10
Course teacher:
Irene Grastveit
Supply Chain & Lean Management Year 2 / Semester 3
The course provides an overview of Operation Management topics which is the foundation for both SupplyChain and Lean Management issues. The focus are on industrial relevant topics like SupplyChain, Lean Management, Theory of Constraints, and Industry 4.0. These issues overlap partly and will be treated in lectures, essays, presentations etc. How can management of operations contribute to a profitable company or organization. Even if most of references are from manufacturing industry, the course content and methods are relevant for service and other organizations.
Read more about Supply Chain & Lean Management
Study points: 10
Course coordinator:
Jan Frick
Perspectives on Innovation Year 2 / Semester 3
Innovation is increasingly important for the development and competitiveness of firms. Today's most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop their understanding of innovation and its role in the broader economy, as well as the factors contributing to innovation in firms. The course provides a broad introduction to the literature in innovation studies, drawing on contributions and perspectives from a variety of academic disciplines, including economics, management studies and other social sciences. It will cover current debates in the scholarly literature related to the role of innovation in the economy, different models of innovation, and perspectives on how to promote innovation both from the perspective of individual firms and policy-makers.
Read more about Perspectives on Innovation
Study points: 10
Course coordinator:
Rune Dahl Fitjar
Behavioral Finance Year 2 / Semester 3

Standard finans bygger på antagelsen om rasjonelle investorer som handler for å maksimere egen avkastning/nytte. Utgangspunktet i Adferdsfinans er at antagelsen om den rasjonelle investor i mange tilfeller ikke holder.

Adferdsfinans er studiet av investorers markedsatferd, hvor en benytter psykologiske prinsipper for beslutningstaking til å forklare investorenes atferd. 


Read more about Behavioral Finance
Study points: 10
Emneansvarlig:
Kristoffer Wigestrand Eriksen
Valuation Year 2 / Semester 3
Case course in corporate valuation
Read more about Valuation
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Knowledge-based entrepreneurship Year 2 / Semester 3
This course examines the factors that promote entrepreneurial success in new business ventures as well as in existing companies. The course focuses on knowledge-intensive entrepreneurship, as the basis for sustained competitive advantages. Topics include idea generation and evaluation, intellectual property rights analysis, market analysis, strategy analysis, analysis of resources including knowledge resources, external networks and partnerships management, financing options and liquidity control.
Read more about Knowledge-based entrepreneurship
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Specialization Applied Finance
Compulsory courses
Financial Economics Year 1 / Semester 1
This course provides the theoretical foundations for the field of financial economics. Key topics include the role of the financial sector, financial decision-making, valuation of financial assets, and asset price formation in the absence of arbitrage, with implications for investors and corporations. In addition, the course offers an introduction to the pricing of derivatives and risk management. Finally, the course will cover basic issues in corporate finance, such as dividend and capital structure decisions.
Read more about Financial Economics
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Investments Year 1 / Semester 2
This course describes portfolio decisions and key aspects of financial investment taking the perspective of a fund manager. The course will cover topics such as traditional portfolio theory and fund performance. 
Read more about Investments
Study points: 10
Course coordinator:
Peter Molnar
Derivatives and Risk Management in Energy and Commodity Markets Year 1 / Semester 2
This course covers the valuation and use of options and derivatives for use in the financial, as well as energy and commodities industries. The course is divided into two parts. The first part will be an introduction to derivatives and risk management in energy and commodity markets. In the second part of the course, the students will carry out a research project of their own choosing, related to the pricing and use of derivatives.
Read more about Derivatives and Risk Management in Energy and Commodity Markets
Study points: 10
Course coordinator:
Tao Lin
Corporate Finance Year 1 / Semester 2
The course covers theory and some empirical evidence in corporate finance, with a focus on analyzing possibilities and limitations for firms to cover their financing needs.
Read more about Corporate Finance
Study points: 10
Course coordinator:
Trond Egil Olsen
Choose 1 course in term 2 or 3
Business Cycle Analysis Year 2 / Semester 3
This course considers economic theory, quantitative methods and empirical insights relevant for the analysis of business cycles domestically as well as internationally. There is a particular focus on monetary policy and the interaction between business cycles and financial markets. A key feature of the course is the emphasis on present day-to-day developments in the global economy.
Read more about Business Cycle Analysis
Study points: 10
Course coordinator:
Øystein Thøgersen
Corporative Law Year 2 / Semester 3
Emnet gir oversikt over sentrale selskapsrettslige spørsmål med hovedfokus på transaksjoner.
Read more about Corporative Law
Study points: 10
Emneansvarlig:
Benn Folkvord
Strategy Year 2 / Semester 3

Strategy is initially a military discipline; it is about winning the battle. In our context, it is pertains to how an organization can develop and maintain competitive advantage to their competitors in a free market economy. The approach to the subject often focuses on analytical tools and theoretical models. This approach is, however, a bit challenging, as indicated by the saying from the American psychologist Abraham Maslow: "If the only tool you have is a hammer, any problem will be treated as a nail."

From this point of view, strategy can be approached from the reasoning that knowledge of how to apply the tools comes first, and the combination of models and analytical tools in order to solve the real problems comes later. If you have a toolbox and the knowledge to apply the tools, you can easily solve practical strategic phenomena in real life.

An opposite approach is that strategy is problem initiated in the sense that the problems have to be first understood and acknowledged before opening the toolbox. This course emphasizes an understanding of the strategic issues and phenomena, before applying the tools. This is because we argue that strategic issues are complex and "wicked", and critical thinking about realities is required before choosing the right tool. We thus start with the strategic issues and continue with different theories and models to shed light on the issues.


Read more about Strategy
Study points: 10
Course teacher:
Irene Grastveit
Perspectives on Innovation Year 2 / Semester 3
Innovation is increasingly important for the development and competitiveness of firms. Today's most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop their understanding of innovation and its role in the broader economy, as well as the factors contributing to innovation in firms. The course provides a broad introduction to the literature in innovation studies, drawing on contributions and perspectives from a variety of academic disciplines, including economics, management studies and other social sciences. It will cover current debates in the scholarly literature related to the role of innovation in the economy, different models of innovation, and perspectives on how to promote innovation both from the perspective of individual firms and policy-makers.
Read more about Perspectives on Innovation
Study points: 10
Course coordinator:
Rune Dahl Fitjar
Behavioral Finance Year 2 / Semester 3

Standard finans bygger på antagelsen om rasjonelle investorer som handler for å maksimere egen avkastning/nytte. Utgangspunktet i Adferdsfinans er at antagelsen om den rasjonelle investor i mange tilfeller ikke holder.

Adferdsfinans er studiet av investorers markedsatferd, hvor en benytter psykologiske prinsipper for beslutningstaking til å forklare investorenes atferd. 


Read more about Behavioral Finance
Study points: 10
Emneansvarlig:
Kristoffer Wigestrand Eriksen
Decision analysis using Excel Year 1 / Semester 2
The course uses Excel to analyse different buisness- and microeconomic decision problems. The course focuses on analyzing real world examples to show how to solve relevant economic decision problems using Excel.
Read more about Decision analysis using Excel
Study points: 10
Course teacher:
Lars Christian Bruno
Marketing Strategy Year 1 / Semester 2
This course will help you become a strategic marketer. You will learn how to create, gain support for and execute marketing strategies. To a large extent the course will focus on how professional organizations, such as companies, government bodies, institutions (e.g., hospitals) and other organizations (e.g., distributors), create market value in a network of relationships.
Read more about Marketing Strategy
Study points: 10
Course coordinator:
Kenneth Henning Wathne
Empirical Labor Economics Year 1 / Semester 2
This course is designed to help students understand the principles underlying both labor demand and labor supply. The main themes include (but are not restricted to):
  • Labor supply and individual trade-offs between working and leisure
  • Parental labor force participation
  • Welfare and labor supply
  • Labor demand and firms decisions on employment
  • The effects of taxation on labor demand
  • Human capital model
  • Spence signalling model
  • Returns to education

Read more about Empirical Labor Economics
Study points: 10
Course coordinator:
Eric Perry Bettinger
Economics of Energy Markets Year 1 / Semester 2
This course is aimed at improving the understanding of the status of the global energy situation and the market outlook for various technologies and energy carriers. Lectures and curriculum literature cover conventional power generation, wind power, solar energy, oil and natural gas. Drivers of demand, supply and price formation will be explored, including their sensitivity to assumptions relating to resource scarcity, technology and innovation, economic factors, and policy variables. Finally, the course will shed light on the macroeconomic role of energy market developments for importers and exporters of energy resources.
Read more about Economics of Energy Markets
Study points: 10
Course coordinator:
Klaus Mohn
Applied game theory Year 1 / Semester 2
When people and businesses pursue their interests in competition or collaboration with others, they play a game. In a game, the players have to think through how their own choices affect the choices of others. This gives rise to strategic behavior. Game theory is the economists' theory of strategic behavior. By using game theory one can reach a deeper understanding of economic interaction. In any situation where people act strategically to achieve their goals, game theory can help us both to predict behavior, and to understand the types of outcomes that are stable, what we call equilibrium. Game theory is one of the most important analytical tools for economists today.
Read more about Applied game theory
Study points: 10
Course teacher:
Sebastian Fest
Management of Innovation Year 1 / Semester 2
Innovation is increasingly important for the development and competitiveness of firms. Today the most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop a critical perspective of the firm and the innovation process and acquire the skills to assist in managing the firm innovation process.
Read more about Management of Innovation
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Knowledge-based entrepreneurship Year 2 / Semester 3
This course examines the factors that promote entrepreneurial success in new business ventures as well as in existing companies. The course focuses on knowledge-intensive entrepreneurship, as the basis for sustained competitive advantages. Topics include idea generation and evaluation, intellectual property rights analysis, market analysis, strategy analysis, analysis of resources including knowledge resources, external networks and partnerships management, financing options and liquidity control.
Read more about Knowledge-based entrepreneurship
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Economics of Motivation Year 2 / Semester 3
What drives people to work hard? Why do we try our best in some settings, while in others we tend to slack off? In this class we explore how employees are motivated, and tools to increase employees' motivation. We apply microeconomic theory, game theory, behavioral economics and psychology to investigate topics such as incentives, intrinsic versus extrinsic motivation, peer effects, performance feedback, employer recognition, autonomy, competitiveness, reciprocity, procrastination, mindset, identity and social status.
Read more about Economics of Motivation
Study points: 10
Course coordinator:
Mari Rege
Supply Chain & Lean Management Year 2 / Semester 3
The course provides an overview of Operation Management topics which is the foundation for both SupplyChain and Lean Management issues. The focus are on industrial relevant topics like SupplyChain, Lean Management, Theory of Constraints, and Industry 4.0. These issues overlap partly and will be treated in lectures, essays, presentations etc. How can management of operations contribute to a profitable company or organization. Even if most of references are from manufacturing industry, the course content and methods are relevant for service and other organizations.
Read more about Supply Chain & Lean Management
Study points: 10
Course coordinator:
Jan Frick
Environmental and Resource Economics Year 2 / Semester 3
This is a graduate-level applied economics course. Environmental and resource economics is a branch of economics with explicit focus on the role of the environment and natural resources in the economy. Broadly speaking, the subfield of resource economics studies the flow of resources from nature to the economy, whereas the subfield of environmental economics studies the flow of residuals from the economy into nature. Both subfields are concerned with how these flows influence economic production and human welfare. What is the best management of renewable resources (e.g. fish, forest)? What is the optimal extraction rate for non-renewable resources (e.g. oil, natural gas)? What is the appropriate level of pollution and how can it be achieved? How much is a Norwegian nature experience worth? What would be the economic cost of an oil spill off the coast of North Norway? These are some of the questions that students will learn to address (theoretically and empirically) in this course.
Read more about Environmental and Resource Economics
Study points: 10
Course coordinator:
Gorm Kipperberg
Financial statement analysis and security valuation Year 1 / Semester 2
This course is an advanced course in financial statements and valuation at Master's level. It covers techniques of fundamental analysis, such as how financial statements are used in valuation, cash accounting, accrual accounting, forecasting, quality, risk and return. The course starts out with a thorough treatment of financial statement analysis, and covers topics such as performance evaluation and credit analysis.
Read more about Financial statement analysis and security valuation
Study points: 10
Course teacher:
Lars Atle Kjøde
Leadership and coping Year 2 / Semester 3
Målet for en leder er å oppnå gode resultater for den organisasjonen eller avdelingen hun eller han skal lede samtidig som medarbeiderne trives, utvikler seg og bidrar til fellesskapets beste. Dette krever at lederen klarer å ha fokus både på strategi, konkurranseforhold, samfunnets rammebetingelser og medarbeiderne som skal stå for verdiskapningen. I dette arbeidet kan en stille spørsmål om lederen og de ansatte har felles interesser. Medarbeidere ønsker en følelse av identitet basert på deres personlige verdier, utvikle kompetanse, nå mål og få tilbakemelding på sitt arbeid. Klarer arbeidsgiver å innfri på disse punktene og både skape resultater og et godt arbeidsmiljø? Emnet "Lederskap og mestring" tar utgangspunkt i evidensbasert ledelse og fokuserer på bruk av den beste tilgjengelige vitenskapelige dokumentasjon for å fremme kvaliteten på lederes og organisasjoners beslutninger og praksis. I dette emnet vil vi vise fram hva forskning sier om lederskap og mestring og oppøve studentenes evne til å praktisere evidensbasert ledelse. Samtidig ønsker vi at studentene gjennom diskusjoner og oppgaver skal lære å kjenne sitt eget lederpotensial og videreutvikle dette som en del av kurset.
Read more about Leadership and coping
Study points: 10
Emneansvarlig:
Aslaug Mikkelsen
Valuation Year 2 / Semester 3
Case course in corporate valuation
Read more about Valuation
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Economics of Innovation Year 1 / Semester 2
Product and process innovation determine firms' growth, productivity and profitability. This course provides economic theories which are useful tools for understanding and analyzing the economic considerations of firms when they make decisions on investments in innovation processes. Such investments frequently involve substantial economic risks, and firms may also face significant challenges in appropriating all the economic returns from their investments. These and other market failures give governments a rationale to support research and development in several ways to ensure that the society undertakes sufficient investments in knowledge production and innovation. The course also analyses the roles of government and the effects of various policies and instruments on private firms' innovation processes.
Read more about Economics of Innovation
Study points: 10
Course coordinator:
Ragnar Tveterås
Choose a minor or other electives
Minor Business Innovation
Minor Business Innovation-compulsory course
Perspectives on Innovation Year 2 / Semester 3
Innovation is increasingly important for the development and competitiveness of firms. Today's most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop their understanding of innovation and its role in the broader economy, as well as the factors contributing to innovation in firms. The course provides a broad introduction to the literature in innovation studies, drawing on contributions and perspectives from a variety of academic disciplines, including economics, management studies and other social sciences. It will cover current debates in the scholarly literature related to the role of innovation in the economy, different models of innovation, and perspectives on how to promote innovation both from the perspective of individual firms and policy-makers.
Read more about Perspectives on Innovation
Study points: 10
Course coordinator:
Rune Dahl Fitjar
Minor Business Innovation-choose one course
Perspectives on Innovation Year 2 / Semester 3
Innovation is increasingly important for the development and competitiveness of firms. Today's most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop their understanding of innovation and its role in the broader economy, as well as the factors contributing to innovation in firms. The course provides a broad introduction to the literature in innovation studies, drawing on contributions and perspectives from a variety of academic disciplines, including economics, management studies and other social sciences. It will cover current debates in the scholarly literature related to the role of innovation in the economy, different models of innovation, and perspectives on how to promote innovation both from the perspective of individual firms and policy-makers.
Read more about Perspectives on Innovation
Study points: 10
Course coordinator:
Rune Dahl Fitjar
Knowledge-based entrepreneurship Year 2 / Semester 3
This course examines the factors that promote entrepreneurial success in new business ventures as well as in existing companies. The course focuses on knowledge-intensive entrepreneurship, as the basis for sustained competitive advantages. Topics include idea generation and evaluation, intellectual property rights analysis, market analysis, strategy analysis, analysis of resources including knowledge resources, external networks and partnerships management, financing options and liquidity control.
Read more about Knowledge-based entrepreneurship
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Minor Economic Analysis - choose 2 courses
Business Cycle Analysis Year 2 / Semester 3
This course considers economic theory, quantitative methods and empirical insights relevant for the analysis of business cycles domestically as well as internationally. There is a particular focus on monetary policy and the interaction between business cycles and financial markets. A key feature of the course is the emphasis on present day-to-day developments in the global economy.
Read more about Business Cycle Analysis
Study points: 10
Course coordinator:
Øystein Thøgersen
Economics of Motivation Year 2 / Semester 3
What drives people to work hard? Why do we try our best in some settings, while in others we tend to slack off? In this class we explore how employees are motivated, and tools to increase employees' motivation. We apply microeconomic theory, game theory, behavioral economics and psychology to investigate topics such as incentives, intrinsic versus extrinsic motivation, peer effects, performance feedback, employer recognition, autonomy, competitiveness, reciprocity, procrastination, mindset, identity and social status.
Read more about Economics of Motivation
Study points: 10
Course coordinator:
Mari Rege
Environmental and Resource Economics Year 2 / Semester 3
This is a graduate-level applied economics course. Environmental and resource economics is a branch of economics with explicit focus on the role of the environment and natural resources in the economy. Broadly speaking, the subfield of resource economics studies the flow of resources from nature to the economy, whereas the subfield of environmental economics studies the flow of residuals from the economy into nature. Both subfields are concerned with how these flows influence economic production and human welfare. What is the best management of renewable resources (e.g. fish, forest)? What is the optimal extraction rate for non-renewable resources (e.g. oil, natural gas)? What is the appropriate level of pollution and how can it be achieved? How much is a Norwegian nature experience worth? What would be the economic cost of an oil spill off the coast of North Norway? These are some of the questions that students will learn to address (theoretically and empirically) in this course.
Read more about Environmental and Resource Economics
Study points: 10
Course coordinator:
Gorm Kipperberg
Behavioral Finance Year 2 / Semester 3

Standard finans bygger på antagelsen om rasjonelle investorer som handler for å maksimere egen avkastning/nytte. Utgangspunktet i Adferdsfinans er at antagelsen om den rasjonelle investor i mange tilfeller ikke holder.

Adferdsfinans er studiet av investorers markedsatferd, hvor en benytter psykologiske prinsipper for beslutningstaking til å forklare investorenes atferd. 


Read more about Behavioral Finance
Study points: 10
Emneansvarlig:
Kristoffer Wigestrand Eriksen
Choose 2 course in term 2 and/or 3
Business Cycle Analysis Year 2 / Semester 3
This course considers economic theory, quantitative methods and empirical insights relevant for the analysis of business cycles domestically as well as internationally. There is a particular focus on monetary policy and the interaction between business cycles and financial markets. A key feature of the course is the emphasis on present day-to-day developments in the global economy.
Read more about Business Cycle Analysis
Study points: 10
Course coordinator:
Øystein Thøgersen
Corporative Law Year 2 / Semester 3
Emnet gir oversikt over sentrale selskapsrettslige spørsmål med hovedfokus på transaksjoner.
Read more about Corporative Law
Study points: 10
Emneansvarlig:
Benn Folkvord
Strategy Year 2 / Semester 3

Strategy is initially a military discipline; it is about winning the battle. In our context, it is pertains to how an organization can develop and maintain competitive advantage to their competitors in a free market economy. The approach to the subject often focuses on analytical tools and theoretical models. This approach is, however, a bit challenging, as indicated by the saying from the American psychologist Abraham Maslow: "If the only tool you have is a hammer, any problem will be treated as a nail."

From this point of view, strategy can be approached from the reasoning that knowledge of how to apply the tools comes first, and the combination of models and analytical tools in order to solve the real problems comes later. If you have a toolbox and the knowledge to apply the tools, you can easily solve practical strategic phenomena in real life.

An opposite approach is that strategy is problem initiated in the sense that the problems have to be first understood and acknowledged before opening the toolbox. This course emphasizes an understanding of the strategic issues and phenomena, before applying the tools. This is because we argue that strategic issues are complex and "wicked", and critical thinking about realities is required before choosing the right tool. We thus start with the strategic issues and continue with different theories and models to shed light on the issues.


Read more about Strategy
Study points: 10
Course teacher:
Irene Grastveit
Perspectives on Innovation Year 2 / Semester 3
Innovation is increasingly important for the development and competitiveness of firms. Today's most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop their understanding of innovation and its role in the broader economy, as well as the factors contributing to innovation in firms. The course provides a broad introduction to the literature in innovation studies, drawing on contributions and perspectives from a variety of academic disciplines, including economics, management studies and other social sciences. It will cover current debates in the scholarly literature related to the role of innovation in the economy, different models of innovation, and perspectives on how to promote innovation both from the perspective of individual firms and policy-makers.
Read more about Perspectives on Innovation
Study points: 10
Course coordinator:
Rune Dahl Fitjar
Behavioral Finance Year 2 / Semester 3

Standard finans bygger på antagelsen om rasjonelle investorer som handler for å maksimere egen avkastning/nytte. Utgangspunktet i Adferdsfinans er at antagelsen om den rasjonelle investor i mange tilfeller ikke holder.

Adferdsfinans er studiet av investorers markedsatferd, hvor en benytter psykologiske prinsipper for beslutningstaking til å forklare investorenes atferd. 


Read more about Behavioral Finance
Study points: 10
Emneansvarlig:
Kristoffer Wigestrand Eriksen
Decision analysis using Excel Year 1 / Semester 2
The course uses Excel to analyse different buisness- and microeconomic decision problems. The course focuses on analyzing real world examples to show how to solve relevant economic decision problems using Excel.
Read more about Decision analysis using Excel
Study points: 10
Course teacher:
Lars Christian Bruno
Marketing Strategy Year 1 / Semester 2
This course will help you become a strategic marketer. You will learn how to create, gain support for and execute marketing strategies. To a large extent the course will focus on how professional organizations, such as companies, government bodies, institutions (e.g., hospitals) and other organizations (e.g., distributors), create market value in a network of relationships.
Read more about Marketing Strategy
Study points: 10
Course coordinator:
Kenneth Henning Wathne
Empirical Labor Economics Year 1 / Semester 2
This course is designed to help students understand the principles underlying both labor demand and labor supply. The main themes include (but are not restricted to):
  • Labor supply and individual trade-offs between working and leisure
  • Parental labor force participation
  • Welfare and labor supply
  • Labor demand and firms decisions on employment
  • The effects of taxation on labor demand
  • Human capital model
  • Spence signalling model
  • Returns to education

Read more about Empirical Labor Economics
Study points: 10
Course coordinator:
Eric Perry Bettinger
Economics of Energy Markets Year 1 / Semester 2
This course is aimed at improving the understanding of the status of the global energy situation and the market outlook for various technologies and energy carriers. Lectures and curriculum literature cover conventional power generation, wind power, solar energy, oil and natural gas. Drivers of demand, supply and price formation will be explored, including their sensitivity to assumptions relating to resource scarcity, technology and innovation, economic factors, and policy variables. Finally, the course will shed light on the macroeconomic role of energy market developments for importers and exporters of energy resources.
Read more about Economics of Energy Markets
Study points: 10
Course coordinator:
Klaus Mohn
Applied game theory Year 1 / Semester 2
When people and businesses pursue their interests in competition or collaboration with others, they play a game. In a game, the players have to think through how their own choices affect the choices of others. This gives rise to strategic behavior. Game theory is the economists' theory of strategic behavior. By using game theory one can reach a deeper understanding of economic interaction. In any situation where people act strategically to achieve their goals, game theory can help us both to predict behavior, and to understand the types of outcomes that are stable, what we call equilibrium. Game theory is one of the most important analytical tools for economists today.
Read more about Applied game theory
Study points: 10
Course teacher:
Sebastian Fest
Management of Innovation Year 1 / Semester 2
Innovation is increasingly important for the development and competitiveness of firms. Today the most successful firms compete mainly through innovation, whether in the form of continuous development of new products, improvement of processes or organizational forms, or identification of new markets. In order to survive in the knowledge economy, firms need strategies for what kind of innovations to pursue and how to promote innovation by designing the necessary preconditions. In this context, knowledge and understanding of innovation is an important asset. Through this course, students will develop a critical perspective of the firm and the innovation process and acquire the skills to assist in managing the firm innovation process.
Read more about Management of Innovation
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Knowledge-based entrepreneurship Year 2 / Semester 3
This course examines the factors that promote entrepreneurial success in new business ventures as well as in existing companies. The course focuses on knowledge-intensive entrepreneurship, as the basis for sustained competitive advantages. Topics include idea generation and evaluation, intellectual property rights analysis, market analysis, strategy analysis, analysis of resources including knowledge resources, external networks and partnerships management, financing options and liquidity control.
Read more about Knowledge-based entrepreneurship
Study points: 10
Course coordinator:
Tatiana Aleksandrovna Iakovleva
Economics of Motivation Year 2 / Semester 3
What drives people to work hard? Why do we try our best in some settings, while in others we tend to slack off? In this class we explore how employees are motivated, and tools to increase employees' motivation. We apply microeconomic theory, game theory, behavioral economics and psychology to investigate topics such as incentives, intrinsic versus extrinsic motivation, peer effects, performance feedback, employer recognition, autonomy, competitiveness, reciprocity, procrastination, mindset, identity and social status.
Read more about Economics of Motivation
Study points: 10
Course coordinator:
Mari Rege
Supply Chain & Lean Management Year 2 / Semester 3
The course provides an overview of Operation Management topics which is the foundation for both SupplyChain and Lean Management issues. The focus are on industrial relevant topics like SupplyChain, Lean Management, Theory of Constraints, and Industry 4.0. These issues overlap partly and will be treated in lectures, essays, presentations etc. How can management of operations contribute to a profitable company or organization. Even if most of references are from manufacturing industry, the course content and methods are relevant for service and other organizations.
Read more about Supply Chain & Lean Management
Study points: 10
Course coordinator:
Jan Frick
Environmental and Resource Economics Year 2 / Semester 3
This is a graduate-level applied economics course. Environmental and resource economics is a branch of economics with explicit focus on the role of the environment and natural resources in the economy. Broadly speaking, the subfield of resource economics studies the flow of resources from nature to the economy, whereas the subfield of environmental economics studies the flow of residuals from the economy into nature. Both subfields are concerned with how these flows influence economic production and human welfare. What is the best management of renewable resources (e.g. fish, forest)? What is the optimal extraction rate for non-renewable resources (e.g. oil, natural gas)? What is the appropriate level of pollution and how can it be achieved? How much is a Norwegian nature experience worth? What would be the economic cost of an oil spill off the coast of North Norway? These are some of the questions that students will learn to address (theoretically and empirically) in this course.
Read more about Environmental and Resource Economics
Study points: 10
Course coordinator:
Gorm Kipperberg
Financial statement analysis and security valuation Year 1 / Semester 2
This course is an advanced course in financial statements and valuation at Master's level. It covers techniques of fundamental analysis, such as how financial statements are used in valuation, cash accounting, accrual accounting, forecasting, quality, risk and return. The course starts out with a thorough treatment of financial statement analysis, and covers topics such as performance evaluation and credit analysis.
Read more about Financial statement analysis and security valuation
Study points: 10
Course teacher:
Lars Atle Kjøde
Leadership and coping Year 2 / Semester 3
Målet for en leder er å oppnå gode resultater for den organisasjonen eller avdelingen hun eller han skal lede samtidig som medarbeiderne trives, utvikler seg og bidrar til fellesskapets beste. Dette krever at lederen klarer å ha fokus både på strategi, konkurranseforhold, samfunnets rammebetingelser og medarbeiderne som skal stå for verdiskapningen. I dette arbeidet kan en stille spørsmål om lederen og de ansatte har felles interesser. Medarbeidere ønsker en følelse av identitet basert på deres personlige verdier, utvikle kompetanse, nå mål og få tilbakemelding på sitt arbeid. Klarer arbeidsgiver å innfri på disse punktene og både skape resultater og et godt arbeidsmiljø? Emnet "Lederskap og mestring" tar utgangspunkt i evidensbasert ledelse og fokuserer på bruk av den beste tilgjengelige vitenskapelige dokumentasjon for å fremme kvaliteten på lederes og organisasjoners beslutninger og praksis. I dette emnet vil vi vise fram hva forskning sier om lederskap og mestring og oppøve studentenes evne til å praktisere evidensbasert ledelse. Samtidig ønsker vi at studentene gjennom diskusjoner og oppgaver skal lære å kjenne sitt eget lederpotensial og videreutvikle dette som en del av kurset.
Read more about Leadership and coping
Study points: 10
Emneansvarlig:
Aslaug Mikkelsen
Valuation Year 2 / Semester 3
Case course in corporate valuation
Read more about Valuation
Study points: 10
Course coordinator:
Bernt Arne Ødegaard
Economics of Innovation Year 1 / Semester 2
Product and process innovation determine firms' growth, productivity and profitability. This course provides economic theories which are useful tools for understanding and analyzing the economic considerations of firms when they make decisions on investments in innovation processes. Such investments frequently involve substantial economic risks, and firms may also face significant challenges in appropriating all the economic returns from their investments. These and other market failures give governments a rationale to support research and development in several ways to ensure that the society undertakes sufficient investments in knowledge production and innovation. The course also analyses the roles of government and the effects of various policies and instruments on private firms' innovation processes.
Read more about Economics of Innovation
Study points: 10
Course coordinator:
Ragnar Tveterås

This is the study programme for 2018/2019. It is subject to change.