«Everything begins and ends with the students»
«Momentum and solid academic credentials have been the guiding principles of outgoing NHH Rector Øystein Thøgersen. But more than anything, it’s always been about the students – who simply call him «Thøgers.»
Q&A
Which book would you like to read this summer?
«The Source» – a classic by Gabriel Scott, or «The Conquerors» by Roy Jacobsen.
Which economist would you invite to lunch?
Ben Bernanke, Chair of the U.S. Federal Reserve from 2006 to 2014 and Nobel Prize winner in 2022.
Favorite movie?
Maybe «Die Hard» or «Top Gun.»
Summer song?
Classic Swedish pop – preferably Gyllene Tider.
Dream car?
A Porsche 911 GT3 Touring.
Boat trip or mountain hike?
That’s a tough one. Both!
Car race at the Nürburgring or a macro lecture for the students?
Definitely both!
Alternative dream job?
At Norges Bank, the Ministry of Finance, or in asset management in the private sector.
«It’s both gratifying and a bit wistful,» says Thøgersen. «At the same time, I’ve served two terms – that’s the limit. It’s clearly time for someone else to take the baton, and that’s a good thing for both NHH and me. But of course, after eight years in a role that takes up most of the day, there hasn’t been much time left for research or other pursuits.»
This autumn, he’ll begin a research stay at the Department of Economics at the University of Oslo, where NHH’s outgoing chair, Karen Helene Ulltveit-Moe, heads the department. Thøgersen has been promised an office close to the macroeconomics group.
«Will you return to NHH afterward?»
«I won’t be far from the rector’s office – just a few steps away at the Department of Economics. There I’ll return to the core: research, teaching, and supervision. I’m truly looking forward to it. It’s a privilege to be able to dive back into your field and stay close to the students.»
Moved by the student band
«Rumor has it you got a little emotional during the farewell lunch with the board and NHH leadership – with the students’ Big Business Band as a surprise?»
«Yeah, I think that’s pretty accurate. It was genuinely moving. The fact that they managed to pull together a full big band right at the end of the semester, just to play for me – that says everything about the sense of community we have here. It was a beautiful reminder of what has made these years so meaningful.»
«You’ve performed on stage with BBB before – did you get another shot during the lunch?»
«Just barely, and that’s for the best. I have a terrible sense of rhythm, so I spared the audience.»
Speed as a driving force
«You've often talked about the need for ‘speed’ at NHH. What do you mean by that – and how did you bring the organization along?»
«Even before I started in 2017, I felt our academic programs were ready for faster development. We needed to pick up the pace – especially in digitalization and data analytics. The changes in that space were happening fast. When I became rector, there was a sense in key parts of the business sector that we were lagging behind. That frustrated me. I knew we had the resources and academic talent – we just needed to go all in.»
«What are you most proud of when you look back?»
«Many things! But the BEDS programme, with its data science profile, is a clear example of how we’ve been able to innovate quickly and effectively. The idea for the new English-taught bachelor’s programme came from student feedback in what we call the graduate survey, and it took shape through thorough work across the organization. I think the result turned out really well – and the application numbers show we struck a chord.»
«Another highlight is the Triple Crown accreditation. What has it meant for NHH?»
«A great deal! It’s a clear sign that we maintain high quality in education, research, and collaboration with the business community. At the same time, it keeps us on our toes – you have to constantly improve to keep it. And it places us in an exclusive league alongside the top business schools in Europe. If we’re going to compete with schools in London, Milan or Barcelona, we need both confidence and solid proof that we’re up to the task.»
Rector’s Roadshow – a personal project
«You’ve visited schools all over the country, either with NHH’s recruitment team or on solo rector tours. Why was that a priority for you?»
«Because everything starts with the students. They’re what gives meaning to what we do. We’ve been fortunate for many years, with long lines of strong applicants. But the world has changed. Today, we’re not just competing with Oslo or Trondheim – we’re up against universities around the world. That means we have to get out there, meet the top students, and show them why they should choose NHH,» he says, adding:
«And honestly – it’s just fun. It’s energizing to meet engaged students, counselors and teachers. I’ve learned a lot about how we need to communicate what economics studies really are – and that we’re so much more than ‘just bookkeeping.’»
The NHH rector has had countless encounters with students – formal and informal, over coffee, in the boardroom, and even on the dodgeball court. He’s been parodied, teased, and given the nickname «Thøgers.»
«That’s part of the charm. Watching them grow and then bumping into them again – in the Ministry of Finance, major companies, or just randomly at the airport – that’s what gives it meaning. We educate economists who make a real difference. We take in talented young people, give them knowledge, training, and a unique community – and then they go out and contribute across society. Many return as alumni, and it’s especially fun to see what they’ve achieved.»
An Unexpected First Encounter
«And what was your first meeting with NHH researchers like?»
«When I arrived at NHH to start the Høyere Avdeling programme, I was going to take a course with Thore Johnsen – (NHH’s unofficial ‘finance king,’ editor’s note). It wasn’t entirely clear when the course began, so I knocked on his door. I heard a commanding voice say ‘Come in!’ I walked in and told him I had a background from BI and was from Sarpsborg. Thore, being from Fredrikstad and fond of teasing BI students, was clearly enjoying himself. His first comment was: ‘Get out of my office!’»
«We’ve laughed about it ever since, and we’re still good friends. When he became professor emeritus, I gave him a Sarpsborg 08 scarf – I hope he’s taking good care of it!»
Macroeconomics with Bruce Willis
«You’re known for bringing Bruce Willis and the Mona Lisa into your macro lectures. Why?»
«Macroeconomics is a subject that never goes out of style – but it can get a little dry if you don’t spice it up. When I’m in the auditorium and a random association pops into my head, I just let it out. Bruce Willis and the plot of Die Hard had a clear link to the U.S. current account deficit, while the Mona Lisa’s smile had everything to do with interest rate policy. It might be a bit quirky, but people remember it – and that’s the point.»
«Will you be actively teaching again now?»
«Yes! I’m really looking forward to it – even though I’ve given plenty of guest lectures as rector too. I thrive when I can combine research, teaching, and using my subject to shed light on what’s happening in the world.»
«What are you most looking forward to now that you’re passing on the rector baton?»
«Having a bit more time to really dig in. To occasionally shut the door and focus on research. At the same time, I truly value teaching and supervision – it’s the perfect mix. And I like contributing where I can, for example in public committees or boards. I’ve always had a strong interest in how research can inform real-world policy. It’s meaningful to be able to combine academic work with something that actually matters to society.»