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Study Plan for Master of Science in Economics and Business Administration (2022–2024)

Study information

Through our research-based curriculum at Molde University College, we give our students the opportunity to build the deep understanding of Economics and Business Administration which is necessary to achieve a successful career in the modern world.

Your choice of study programme is important. It advertises to future employers what your interests are and what kind of work you can do. A master’s degree in Economics and Business Administration advertises to future employers that you are interested in economics and business and that you can handle difficult decisions. Our graduates are well-equipped to work as managers, advisors, or specialists, within various organizations in both the private sector and the public sector.

Our programme focuses on developing our students’ analytical skills to a high level. Analytical skills are important when you face difficult business decisions. The main profile of the programme is economic analysis. Our students learn how to use insights from economics to analyse important decisions both within the private sector (financial economics) and within the public sector (infrastructure investments, trade, growth, & sustainability). Our programme supports the development of economic knowledge with training in important analytical tools such as decision and game theory, statistics, and econometrics. Our goal is to equip our students with the necessary tools to write a master’s thesis which they proudly can show to potential employers as evidence of their capabilities. Our programme also gives our students the opportunity to broaden their knowledge by choosing electives from other fields within business administration such as organization, marketing, strategy, and logistics. Students may also choose to spend one semester abroad at one of our partner institutions to broaden their cultural knowledge.

What do you learn?

Degree/title obtained

Master of Science in Economics and Business Administration

Learning outcomes

We divide the goals into three categories, general knowledge, specific knowledge, and skills. The goals for each category are listed below.

General Knowledge

• Be able to communicate ideas and research effectively

• Be able to criticize ideas and research constructively

• Be able to use digital tools efficiently

• Be able to use the specific knowledge and skills in new creative ways

Specific Knowledge

• Understand how the financial markets work, how corporations are financed, and how investments are evaluated

• Understand how rational decisions are made, and what types of mistakes real flesh-and-blood people are likely to make

• Understand how globalization and international trade affect the development of individual countries, and how national strategies affect the outcome

• Understand how investments in the public sector are evaluated, and the theoretical foundations of these evaluations

• Understand how statistics and econometrics may be used to support rational decision-making with relevant software

• Understand how to identify relevant research questions, and how to develop strategies to answer these

Skills

• Be able to use arbitrage-pricing-theory and game-theory to evaluate investment decisions and financing decisions

• Be able to use decision and game theory more generally, and be aware of behavioural pitfalls

• Be able to discuss the pros and cons of different national strategies for development and trade

• Be able to use cost-benefit analysis to evaluate public sector investments

• Be able to use empirical methods to support the skills above

• Be able to develop a research question, and to do relevant research to answer the question

Admission

Admission and rating

Admission to the 2 years international MSc programmes at HiMolde, held in English, takes place during the spring semester every year, and the programmes start in the middle of August. There is no international MSc programme where admitted students can join these programmes in January. For admission in 2022, HiMolde will offer a new international MSc programme in Economics and Business Administration at the Faculty of Business Administration and Social Sciences. So far this MSc programme has been running for several years where the language of instruction has been Norwegian. The admission in 2022 will be the first year where this MSc programme will be held in English, and offered for both Norwegian and international applicants who fulfil all the admission requirements mentioned below.

1. Academic admission requirements - completed regonixed higher education 
   International applicants must have completed a recognized and relevant first degree/bachelor’s degree, or a combination of a recognized bachelor’s and master’s degree, that is equivalent to a Norwegian bachelor’s degree within Economics and Business Administration (180 ECTS).  For further information about which degrees/higher education that will be recognized and considered equivalent to a Norwegian bachelor’s degree (180 ECTS), please carefully read the “Country List” on our home page.  Please be aware that for some countries a 3 year’s bachelor’s degree, will not be considered to fulfil our formal admission requirements to apply to the international MSc programmes.  International applicants who have completed different types of diploma education from their home countries, like OND, HND or Advanced Diploma will also not be considered for admission, since these degrees are not recognized as equivalent to a 3 year’s bachelor’s degree in Norway.
    

2. Additional subject/ course requirements within the first degree/ recognized higher educational background
   In addition to the level and duration of the first degree, or a combination of a first and second degree, there are also some additional subject/course requirements, where all the applicants must have completed some subjects within their previous higher education to apply for the MSc programme in Economics and Business Administration. In Norway, the students will have a normal workload of minimum 60 ECTS credits per academic year, 30 ECTS per semester, and most courses are either 15 ECTS credits or 7.5 ECTS credits. 

The minimum subject/course requirements for applicants who have completed a 3 year’s Norwegian bachelor’s degree in Economics and Business Administration (180 ECTS) are as follows:

•    Minimum 30 ECTS within administration subjects (for example organization, marketing, and strategy)
•    Minimum 30 ECTS within business economics subjects (for example financial accounting, management accounting, investments, finance)
•    Minimum 15 ECTS economics subjects (for example microeconomics, macroeconomics)
•    Minimum 20 ECTS within methodological subjects (for example mathematics, statistics, and methods in social sciences)
•    Minimum 7.5 ECTS ethics (for example ethics, corporate social responsibility, sustainability)
•    In addition, the first three areas mentioned above must cover a minimum of 90 ECTS (for example 30 ECTS administration, 30 ECTS business economics, and 30 ECTS economics)

These minimum course/ECTS requirements cannot be satisfied or replaced by work experience or other means. International applicants must have completed subjects that are equivalent to the Norwegian subjects/course requirements, and these subjects must also have been completed at a recognized higher educational level and at a recognized/approved university/higher educational institution, either at bachelor’s level and/or at master’s level.

3. Minimum average grades to be considered for admission.
   Admission to the international MSc programmes at HiMolde and the new MSc program in Economics and Business Administration is highly competitive when it comes to the applicants’ average grades from their previous education.  International applicants should preferably have an average grade of First Class/ First Division, Second Class Upper Division/ Excellent or Very Good from their first degree or an equivalent grade to be considered for admission (like a GPA of 3.0 or better).  For international applicants the average grades from previous education will not be directly converted to the Norwegian ECTS grading scale, but will rather be carefully evaluated according to the grading system in the country where the applicants have completed their education and based on educational documents presented with their applications. The minimum average grade requirements for applicants who have completed a Norwegian bachelors’ degree is grade C in the ECTS grading system.
    

4. English language requirement
   International applicants from some countries, will also be required to fulfil the formal English language requirements to apply for admission, by taking an IELTS test with a minimum score of 6.0, or a TOEFL test with a minimum score of 550 on paper-based test/ 213 on computer-based test/ or 79 on internet-based test. A Pearson Academic English test (PTE) with minimum score 53 will also be accepted. Some groups of applicants can be exempted from the formal English language requirements. Please study the formal English requirement mentioned in the “Country List” carefully before applying for admission.
    

5. Documentation of sufficient funding
   International applicants who are citizens of countries outside the EU/EEA/Switzerland must provide documentation of sufficient funding with their online applications to cover their living expenses for their planned MSc studies at HiMolde.  For the academic year 2021/2022 the minimum amount is NOK 126 357 per academic year. The figure will later be updated for 2022/2023. The minimum amount is corresponding to the minimum financial requirement of UDI (Norwegian Directorate of Immigration) to obtain a student residence and part-time work permit in Norway.   As a recognized state-run Specialized University, HiMolde is not charging any tuition fees from Norwegian or international students, but all admitted students must pay a minor semester fee of NOK 745 per semester. Admitted international students who are citizens of countries outside EU/EEA/Switzerland, will be requested to transfer a minimum of NOK 126 357 to our Deposit Account for International Students within a deadline first stated in the letter of admission.
    

6. Application deadlines

December 15, 2021: Applicants who are citizens of countries outside EU/EEA/Switzerland, and applicants who have a temporary residence permit in Norway. Applicants who are citizens of Nordic countries or countries within EU/EEA/Switzerland can also apply within this deadline if they prefer to do so.

April 15, 2022: Applicants who are Norwegian citizens or who have obtained a permanent residence permit in Norway.  Applicants who are citizens of Nordic countries or citizens of countries within EU/EEA/Switzerland.

Administrative contact for international applicants 
Advisor Odd Arne Eidem; odd.a.eidem@himolde.no

Structure and content

Programme content

Through our research-based curriculum at Molde University College, we give our students the opportunity to build the deep understanding of Economics and Business Administration which is necessary to achieve a successful career in the modern world.

Your choice of study programme is important. It advertises to future employers what your interests are and what kind of work you can do. A master’s degree in Economics and Business Administration advertises to future employers that you are interested in economics and business and that you can handle difficult decisions. Our graduates are well-equipped to work as managers, advisors, or specialists, within various organizations in both the private sector and the public sector.

Our programme focuses on developing our students’ analytical skills to a high level. Analytical skills are important when you face difficult business decisions. The main profile of the programme is economic analysis. Our students learn how to use insights from economics to analyse important decisions both within the private sector (financial economics) and within the public sector (infrastructure investments, trade, growth, & sustainability). Our programme supports the development of economic knowledge with training in important analytical tools such as decision and game theory, statistics, and econometrics. Our goal is to equip our students with the necessary tools to write a master’s thesis which they proudly can show to potential employers as evidence of their capabilities. Our programme also gives our students the opportunity to broaden their knowledge by choosing electives from other fields within business administration such as organization, marketing, strategy, and logistics. Students may also choose to spend one semester abroad at one of our partner institutions to broaden their cultural knowledge.

Content and structure of the programme

The master’s programme in Economics and Business Administration follows the Norwegian guidelines for master’s programmes in Economics and Business Administration (the UHR-ØA-plan). The plan sets forth the following requirements for the programme.

• A major consisting of at least 30 ECTS (economic analysis)

• A minor consisting of at least 20 ECTS (organization, marketing, strategy, or logistics)

• A master’s thesis of at least 30 ECTS (economic analysis)

Presently, the mandatory programme consists of 37.5 ECTS economic analysis and 22.5 ECTS statistics, econometrics, and research methods. The elective part of the programme is 30 ECTS and allows for some specialization in economics analysis but is mainly used to satisfy the requirement for a minor of at least 20 ECTS.

Elective courses in Norwegian.
Norwegian-speaking students may choose elective courses held in English or Norwegian.
Suggested courses - in Norwegian only:

Autumn-semester.

• ADM725 Urban governance og bærekraftig utvikling

• SØK720 Urban økonomi

Spring-semester.

• ADM745 Makt, ledelse og retorikk 

• ADM805 Grønn vekst – Strategier og ideologier

• ADM815 Innovasjon

Assessment

Most courses have traditional written exams with grades A – F. Sometimes grades will be based on written assignments or digital home exams (for example during the corona pandemic). Sometimes grades may be approved/not approved rather than A – F.

Future studies

Our master’s programme in Economics and Business Administration also gives you an excellent background to pursue further studies at the PhD-level.