Research Master's Track in Economics

Research Master’s education equips students with the main tools of a professional economist. It represents state-of-the art scientific knowledge of the field and prepares students to operate in most demanding expert positions in government, business, and research. The advanced and technically oriented nature of the program also serves as an excellent foundation for entry into a PhD program and other research-focused roles in the society.

The objective of the Research Master’s study track is to provide a high value-added education to the students irrespective of whether they go on to work in the private or public sector, in applied or research-oriented jobs. This goal is achieved by being simultaneously rigorous and practically oriented, applying economic tools to real world problems instead of teaching them purely at a theoretical level.

Students are equipped with the main tools of a professional economist: a way of conceptualizing problems, thinking through the incentives of decision-makers, analyzing the impact of different decision-makers knowing different things, as well as solid tools for empirical analysis.

You can apply to the Research Master's track when applying to the Master’s program through any of the Helsinki GSE partnering universities. The language of the Research Master’s track is English. We encourage both Finnish and international students to apply. Please note that to be eligible to apply to the Research Master's track you must meet certain admission criteria:

More information regarding the application process to the Helsinki GSE partnering universities' Master's programs can be found on the page:

The degree requirements in the Research Master's track differ from the General Master's track degree requirements. The primary objective of the Research Master’s track is the provision of in-depth understanding of the principles of economic analysis. Focus is on the key elements of economic theory and empirical methods related to social sciences. The curriculum consists of core courses in microeconomics, macroeconomics, and econometrics, providing state-of-the art knowledge of methods and results in economics. Specialized courses in different subfields of economics complement the picture, integrating methodological insight with real world questions.

Research Master's core courses

The Research master courses are arranged within the Helsinki GSE teaching cooperation. The core courses in econometrics, macroeconomics and microeconomics are divided into four formally independent modules:


  • Advanced Econometrics 1 (fall term)
  • Advanced Econometrics 2 (fall term)
  • Advanced Econometrics 3: Macroeconometrics (spring term)
  • Advanced Econometrics 4: Microeconometrics (spring term)


  • Advanced Macroeconomics 1 (fall term)
  • Advanced Macroeconomics 2 (fall term)
  • Advanced Macroeconomics 3: Business Cycles (spring term)
  • Advanced Macroeconomics 4: Heterogenous agent models with policy applications (spring term)


  • Advanced Microeconomics 1 (fall term)
  • Advanced Microeconomics 2 (fall term)
  • Advanced Microeconomics 3: Game Theory (spring term)
  • Advanced Microeconomics 4: Information Economics (spring term)

More details regarding the courses can be viewed on the page:

The specialised Research Master’s courses include:

  • Behavioral and experimental economics
  • Development economics
  • Econometrics
  • Economic theory
  • Environmental economics
  • Industrial organization
  • Labor economics
  • Macroeconomics
  • Microeconomics
  • Public economics
  • Urban economics

In terms of future careers of the students, the Research Master's track serves a dual goal. On the one hand, it provides a rigorous training for students whose ambition is to get into challenging and demanding expert positions in the private or the public sector. On the other hand, it is well suited for those who plan to continue their studies towards a PhD.

The curriculum of the study track contains all the material required in the first year of PhD training and through thesis work a fast-track towards starting the PhD thesis research, thereby making the transition from Master’s to PhD level smooth and fast. It gives an excellent overview of contemporary economic research. All students with an intention to continue to PhD education in economics are encouraged to apply the Research Master’s track.