The Finance master’s programme at NHH prepares you for a wide range of outstanding career opportunities within financial services, consulting and auditing.

The portfolio is designed and taught by NHH’s internationally recognised faculty in finance and related areas, whose academic research and industry knowledge ensure that the courses are relevant and of high quality.

Taught in English over two years, the courses combine a rigorous theoretical approach with relevant applications. Students will develop a deep understanding of the theoretical framework and empirical evidence in finance.

You will learn to analyse real-life problems related to financial markets and financial decision-making in firms, and to apply principles at the research frontier.

Upon completion of the programme, you will possess skills for performing investment analysis and valuation, evaluating portfolio management strategies and techniques, and making corporate finance decisions and risk management considerations.

About the programme

ECTS Credits
MSc in Economics and Business Administration
  • Subject areas

    Subject areas

    You can tailor the programme to suit your own interests and choose to specialize in areas ranging from corporate finance, investment management or macroeconomics to ensure in-depth knowledge and skills vital for a chosen career path.

    • Investment Management: Designed for careers in asset management, risk management, treasury functions, and securities sales and trading.

    • Corporate Finance: Prepare students for careers in investment banking, M&A (merger & acquisition) advisory, security analysis, commercial banking, private equity, management consulting, and corporate positions.

    • Macroeconomics: Look at the interaction between financial markets and macroeconomics, including how financial markets are both a source of information and a tool for financial regulation and economic policies.

    • Fintech: Study of how the finance industry is changing under the impact of technological innovation.
  • Learning outcome

    Learning outcome

    Candidates who have completed their specialisation in the Finance profile will have acquired the following at the end of the programme:


    K1: have extensive, updated knowledge of relevant theories within finance, their application and empirical basis - as well as having special expertise in at least two of the three main themes of the financial markets, corporate finance and macroeconomics.

    K2: have solid competence in methods of empirical analysis in finance.

    K3: have a broad understanding of the issues that characterise today's national and international financial markets.


    S1:be analytically strong with a proven ability to both understand and carry out a broad set of calculations and analyses on their own, with a view  to mapping out opportunities and challenges related to issues in finance and financial markets.

    S2: be able to update skills on their own throughout their career.

    S3: have the ability of independence, reflection and maturity in their work.

    General competence

    G1: be able to utilise available information and data with necessary critical understanding of sources

    G2: have the ability to work in teams and to communicate and present professional analyses and issues to both specialists and a wider audience.

    G3: have solid competence on ethical issues and social responsibility in general - and in relation to the financial market in particular.

  • Structure


    The core courses in the master's programme provide a foundation for the elective courses in finance. You are encouraged to take the core courses and the course in empirical methods during the two first terms to have flexibility in your choice of electives.

    You are required to take at least three elective courses. As presented below, the electives can be organized into four broad topic areas:  Investment Management, Corporate Finance, Macroeconomics, and Fintech.

  • Recommended course combinations

    Recommended course combinations

    The courses can be organized according to the four broad topic-areas:

    Investment Management:

    • FIE400 Investments
    • FIE425 Derivatives and Risk Management
    • FIE433 International Finance
    • FIE434 Behavioural Finance and Wealth Management
    • FIE446 Financial Engineering
    • FIE447 Trading, Liquidity, and Pricing in Securities Markets
    • FIE448 Banking and Financial Technology (FinTech)
    • FIE450 Programming with Applications in Finance
    • FIE451 Asset Management with programming Applications
    • ECO421 Asset Pricing
    • ECO423 Principles of Derivatives Pricing and Risk Management

    Corporate Finance:

    • FIE402 Corporate Finance
    • FIE428 Corporate Financial Management
    • FIE433 International Finance
    • FIE436 Venture Capital, Private Equity and IPO's
    • FIE437 Valuation
    • FIE443 Mergers and Acquisitions
    • FIE444 Bank Management
    • FIE457 Entrepreneurial Finance
    • ECO420 Corporate Governance
    • ECO422 Advanced Corporate Finance


    • FIE403 Business Cycle Analysis
    • FIE421 Long-Term Macroeconomic Analysis
    • FIE422 International Financial Markets and Financial Stability
    • FIE433 International Finance
    • FIE442 Growth and Architecture of Financial Systems
    • FIE448 Banking and Financial Technology (FinTech)
    • FIE454 Business and Finance in China
    • ECN430 Empirical Methods and Applications in Macroeconomics and Finance
    • ECO425 International Macroeconomics


    • FIE446 Financial Engineering
    • FIE448 Banking and Financial Technology (FinTech)
    • FIE450 Programming with Applications in Finance
    • FIE451 Asset Management with programming Applications
    • FIE452 Applied Textual Data Analysis for Business and Finance
    • FIE453 Big Data with Applications to Finance
    • FIE456 FinTech
    • FIE458 Deep Learning with Applications to Finance
  • Empirical methods

    Empirical methods

    Choose minimum one:

    • ECN402 Econometrics
    • FIE401A Financial Data Analysis
    • FIE401B Financial Data Analysis
  • Ethics courses

    Ethics courses

    Ethics course available in the Finance major:

    • BUS452 Corruption - Incentives, Disclosure and Liability

    Remember that the ethics course can also be a part of your elective courses. See list of all ethics courses.

  • Research distinction courses

    Research distinction courses

    Are you curious about taking a PhD or interested in more research-oriented work both at NHH and later in your career, find out more about the Research Distinction track within the master's programme.

    Read more about Research Distinction

  • International opportunities

    International opportunities

    As an NHH student you have excellent opportunities to gain valuable international experience during your studies through exchange programmes, the CEMS Master's in International Management (MIM) joint degree and summer courses.

    Read more

  • Career


    As an NHH graduate you have numerous career possibilities. Recent surveys show that 74 per cent of our graduates found employment before graduation.

    Read more