1. Associate professor, Dept. Econ.
Master of Science
Major in Economics
Tom-Reiel Heggedal
Associate professor, Dept. Econ.

2. Agenda Economics Major in Economics programme Master Thesis
Career opportunities
Macroeconomics – Hilde Bjørnland
Economics Consulting – Christian Riis
q/a

3. About economics Our aim is to understand the economy: Microeconomics:
Incentives and decisions;
Markets, competition, and strategic interaction;
Prices and contracts.
Macroeconomics:
Interest rates, stock market and unemployment;
Economic growth, innovation and the environment;
International trade and globalization.

4. Perspective
Economics is a general framework for analysis that can be applied to a great variety of areas.
Theory, applications and data.
Extensive use of quantitative methods:
Mathematically formulated models;
Data science and econometrics.

5. Master vs bachelor
Relevance: Models that are used in the industry and by experts
More advanced;
Deeper understanding.
Tools: Skills that are directly relevant in jobs
Programming;
Model simulations;
Applied econometrics.
Teaching: Research based
Teachers are international researchers in their field.

6. Structure of programme
MSc in Business: Economics
Semester
6 ECTS
1. semester
GRA 6035 Mathematics
CORE
GRA 6031 Microeconomics
GRA 6634 Advanced Macroeconomics
GRA 6039 Econometrics with Programming
GRA 6626 Economic Theory
2. semester
GRA 6648 Research Methodology - Economics
GRA 6038  Applied Business Ethics
GRA 6639 Business Cycles
GRA 1305 Economics Consulting
GRA 6612 Applied Microeconometrics
3. semester
Free electives
Exchange / Short exchange
Internship
International Internship
International electives (courses with study tour)
7th major course: GRA 6649 / GRA 6664 / GRA 6665 / GRA 6666 *
GRA 1970  Master Thesis
4. semester
GRA 6631 Macroeconomic Policy
GRA 1970  Master Thesis ​ ​ ​​

7. Changes to the Major More applied and quantitative.
More focus on programming, data science, and real world cases relevant for business.
Some sample courses:
Advanced Macroeconomics;
Research Methodology;
Applied Microeconometrics;
Economics Consulting/Industrial Organization.

8. Master thesis Counts 30 credits Cooperation
Lots of support to help you through:
Top motivated researchers as supervisors .
September 2018: Kickstart meeting
March 2019: Faculty present themselves
June 2019: Choose topic and supervisor
Oktober 2020: Preliminary thesis report information meeting
January 2020: Submit preliminary thesis report
February 2020: Preliminary thesis seminar with faculty
July 2020: Submit final thesis.

9. Master thesis examples
What is the effect of an oil price shock on the Norwegian economy?
Does the central bank react to bubbles in the housing market?
How does the exchange rate respond to news?
Economic growth and carbon taxation
Robots and Jobs: Evidence from Norwegian Labor Markets
Firms’ technology compatibility incentives in video conference markets
The effect of mergers between firms on innovation
Congestion road charges in Oslo – A cost benefit analysis
Is strategic house-pricing more prevalent in Oslo than in Bergen?
Performance pay and turnover of top-level public executives
Any topic where you can use economics methodology.

10. Department of economics
Very strong academic department.
Leading international researchers;
Hired from top institutions;
International cooperation.
Cooperation with government:
Central bank;
Advisory boards.
Collaboration with business:
All major Economics Consulting firms.

11. Career opportunities with economics
General business related jobs.
Central bank, banks & finance:
Chief economists/ macro analysts.
Non-financial firms:
Micro analysts/ strategy advisor
Data analysts
Economics consulting.
International organizations.
Government and ministries.
Research.

12. Macroeconomics
Professor Hilde Bjørnland

13. Financial crisis and the role of economists

14. ”Policymakers looking for precise estimates are deluding themselves”
Source: Economist, 26/9 2009

15. Monetary policy – housing - role of taxes?
Kilde: Nasjonalbudsjett 2016

16. Energy – much has changed in two years
Economist 2013: Rich cousin in the North
Economist 2015: Norwegian Blues

17. Spillovers of oil and gas

18. Energy and the macroeconomy

19. Made in Italy

20. Made in Norway???

21. Knowledge and technology

22. No longer cruise control … Time to learn economics…

23. Economics Consulting
Professor Christian Riis

24. economics consulting

25. Course content Theory Incentives and contracts; Vertical integration;
Price discrimination and Ramsey pricing;
Economic implications of the competition law, regulation, and innovation.
Applications
Damage compensation;
Book market and ESA’s investigation;
EU commission’s decision in the Google case;
and more.

26. What do we require? Interest and curiosity Analytical skills
Critical thought, critical questions, and effort.
Analytical skills
Theories formulated as mathematical models.
Interest for quantitative analysis
Programming and data science;
Empirical methods and applications.

27. Difficult? Not neccesarily more than other disciplines

28. Double degree
Católica Lisbon School of Business and Economics in Portugal
EDHEC Business School, Campus Lille, in France
Queen's School of Business in Canada

29. We want to talk to you! Come to our offices! Contact us

30. You could be the one amongst these !