Economics major – MSc in Business Administration

In the economics major, you will develop a deep understanding of the market forces and economic principles that drive the behavior of firms, consumers, and government agencies. With a strong emphasis on practical application, you will learn how to leverage economic tools and analyses to make strategic business decisions that optimize outcomes for both individual stakeholders and society as a whole. This program will prepare you to be an insightful business leader, adept at navigating the complexities of the modern economic landscape to drive organizational success.

Published 31. Oct. 2023. Updated on 25. Mar. 2024

The major in Economics is a part of the MSc in Business Administration.

Economists are trained to determine which strategies could lead to higher profitability and provide data-driven insights.

About the major

ECTS credits

120

Courses

Elective courses in Economics

Degree

MSc in Business Administration, with a major in Economics

Admission and application

Information about admission and the application process on the MSc in Business Administration website

Learning outcome and career prospects

What will you learn

In the economics major, you will first build a solid foundation through the Business Economics course, where you will learn microeconomic principles with a business-oriented application, gaining insights into how firms operate and make decisions in various market conditions. The International Macroeconomics course will provide you with a global perspective, exploring the dynamics of international trade, finance, and policy. Additionally, the Econometrics and Machine Learning course will equip you with the modern tools to analyze and interpret data, strengthening your ability to make informed business decisions.

Building on this core knowledge, you will have the opportunity to specialize in one of three tracks—financial economics, energy, environment, and sustainability economics, or business economics. Each track is designed to deepen your understanding of specific economic principles and their applications in relevant fields. With a comprehensive curriculum, you will be well-prepared to tackle real-world challenges, armed with essential skills in critical thinking and complex problem-solving.

Career paths

With the Economics specialisation, you have good job opportunities both in the private business sector (finance, industry, energy) and in the public sector (state and municipality, directorate). Our graduates are working in various related fields, including consultancy, banks and financial services, oil and gas sector, and government agencies.

Upcoming academic year 2024–2025

Programme structure

The economics major comprises of compulsory major courses, specialization courses, electives and a master thesis within your major. The degree is 120 ECTS in total.

Compulsory courses

The Economics major comprises of three foundation courses that are mandatory (30 ECTS) in the first and second semester:

MSB107 Business Economics (10 ECTS) – semester 1
MSB309 Corporate Finance (10 ECTS) – semester 1
MSB145 Econometrics and Machine Learning (10 ECTS) – semester 2

In addition, you take the program common compulsory course in semester 1

MSB102 Business Decisions (10 ECTS) – semester 1

Customize your study: specializations, electives and minors

Semester 2

In semester 2, you choose a specialization within your major. You can specialize in:

Financial economics
Environmental and energy economics
Business economics

Each of these specializations comprise of two elective courses (20 ECTS):

Financial economics: MSB111 International Macroeconomics (10 ECTS) + MSB210 Risk Management and Derivatives (10 ECTS) or MSB205 Investments (10 ECTS)
Environmental and energy economics: MSB111 International Macroeconomics (10 ECTS) + MSB285 Economics of Energy Markets (10 ECTS)
Business Economics: MSB111 International Macroeconomics (10 ECTS) + MSB260 Strategic Decision-Making with AI (10 ECTS)

In addition to the specialization courses (20 ECTS), the students also take the mandatory major course MSB145 Econometrics and Machine Learning (10 ECTS), in this second semester.

* Students majoring in economics, could choose to take a minor in Innovation and Sustainability in semester 2 instead of specializing within the major. If they choose to do so, MSB300 Economics of Motivation or MSB350 Environmental Economics will be a compulsory course in semester 3.

Semester 3

In the third semester, students can either:

Go on student exchange. The UiS School of Business and Law recommends this alternative.
Take a minor (two elective courses outside your major, 20 ECTS) plus one elective course (10 ECTS).
Choose freely from different elective courses (30 ECTS). One course must be outside of your major.

See all elective courses listed here

Master thesis

In your fourth and final semester, you write your master thesis within your chosen major (30 ECTS).

Upcoming academic year 2024–2025

Study plan

The study plan provides an overview of which courses you take in the different semesters.

Semester 1

In semester 1, you have three mandatory courses:

Optional, but highly recommended:

MSB001 Professional Skill Boot Camp (1 ECTS): At the start of the master’s program, students will have an opportunity to attend a boot camp (in week 34). This optional but highly recommended initiative is designed to set them up for successful completion of their master’s degree and learn essential skills for today’s work life.

Semester 2

In semester 2, you have one mandatory course and you choose to either specialize within your major or you choose a minor: