The Economics (ECN) major teaches tools to analyse markets and industries and the economic challenges facing private business, public institutions and international organisations.
Understanding economic mechanisms is vital for the success of business and the design of public policy and this major offers a thorough and comprehensive education in economic theory and empirical methods.
The ECN major studies what motivates and drives decisions for individuals, companies, competitors and authorities, and what determines prices, returns and economic allocations.
You will be equipped to analyse a diverse set of core economic questions such as:
- What are the effects of the financial crisis on the economy?
- Why are some mergers not profitable?
- Is taxing wealth a good idea?
- How fast should oil resources be exploited?
The Economics profile contains three mandatory courses:
- Macroeconomics cover areas such as business cycles, inflation and economic growth in a national and global perspective, including monetary and fiscal policy.
- Microeconomics focuses on consumer behaviour and strategic interaction between companies in markets with imperfect competition and on how information and uncertainty affect decision-making.
- Econometrics applies statistical methods to economic data in order to analyse economic themes with a focus on regression analysis and extensive use of practical lab exercises.
Three additional courses allow you to focus on subject areas you find particularly interesting, such as
- Industrial economics
- International economics
- Development economics
- Labour economics
- Public economics
- Resource and environmental economics
- Behavioural economics
- Economic history
Candidates who have completed the Economics major, have acquired the following:
K1: a solid understanding of microeconomic models analysing demand and consumer behaviour, competition and firm strategy, as well as market structure and information;
K2: a solid understanding of macroeconomic models analysing growth and business cycles in the aggregate economy, inflation and employment, as well as monetary and fiscal policy;
K3: knowledge of econometric methods to analyse economic data, and an understanding identification of causal effects and prediction;
K4: an understanding of models and methods used in specialised areas in economics.
S1: the ability to work with and analyse analytic models of the economy;
S2: a critical understanding of the main theoretical models describing economic behaviour both at the micro- and macroeconomic level;
S3: the ability to analyse economic data and contrast and compare empirical predictions and implications across different economic models
C1: the ability to utilise available information and data with necessary critical understanding of sources;
C2: the ability to analyse economic questions using a combination of theoretical and empirical models;
C3: the ability to formulate research questions in economics and provide answers using both theoretical and empirical methods.
C4: the ability to work in teams and to communicate on economic issues to both specialists and a wider audience.
Ethics courses available in the Economics major:
- ECN421 Behavioral Economics
- ETI 450 Corporate Social Responsibility
Remember that the ethics course can also be a part of your elective 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.
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.
Students graduating from the ECN major work in both the private and public sector, in consultancy and analysis, banks, insurance, telecom, energy, or the oil sector. Public employers of students of the economics profile include Norges Bank, ministries and regulators, as well as international organisations (World Bank, IMF, OECD).