Research Master’s Program

Helsinki GSE 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 Helsinki GSE Research Master’s program is to provide a high value-added education to the students irrespective of whether they go on to work in the private of 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.

Program description

The primary objective of the Helsinki GSE Research Master’s program 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 core courses in econometrics, macroeconomics and microeconomics are divided into four formally independent modules:

  • Econometrics
    • Advanced Econometrics 1 (fall term)
    • Advanced Econometrics 2 (fall term)
    • Advanced Econometrics 3: Macroeconometrics (spring term)
    • Advanced Econometrics 4: Microeconometrics (spring term)
  • Macroeconomics
    • Advanced Macroeconomics 1 (fall term)
    • Advanced Macroeconomics 2 (fall term)
    • Advanced Macroeconomics 3: Monetary Policy Models (spring term)
    • Advanced Macroeconomics 4: Real Business Cycles (spring term)
  • Microeconomics
    • Advanced Microeconomics 1 (fall term)
    • Advanced Microeconomics 2 (fall term)
    • Advanced Microeconomics 3: Game Theory (spring term)
    • Advanced Microeconomics 4: Information Economics (spring term)

The specialised Research Master’s courses include:

  • Economic theory
  • Macroeconomics
  • Econometrics
  • Industrial organisation
  • International economics
  • Labor economics
  • Public economics
  • Development economics

The language of Helsinki GSE Master’s program is English. We encourage both Finnish and international students to apply.

Career prospects

In terms of future careers of the students, the program 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 program 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 Helsinki GSE Research Master’s programme.


While the program is managed and run by the Helsinki GSE, a prospective student should formally apply to a Master’s program of one of the Helsinki GSE member institutions:

Upon completion of the program, students receive their degrees from the institution at which they are enrolled.

Helsinki GSE