Economics, Master's Programme, 60 ECTS Credits

Sdertrn University

This Masters programme is a preparation for postgraduate studies in Economics or for a professional career in
the public and private sectors. Courses follow international standards, combining theory and applications, and
are taught in English.

The Programme
The aim of this programme is to prepare students for postgraduate studies or professions in the private and
public sectors. The programme is open to exchange students and other international students. In addition to
writing a dissertation (30 credits) students may chose between several optional modules. This freedom of
choice provides an opportunity to specialise in a specific field of interest. An overview specifying the modules
included in the Masters Programme as well as the optional modules offered during the coming semester is
available on our website. Concerning requirements, please note: The equivalent of English B and a Bachelor's
degree with 90 HE/ECTS credits in Economics, including a course in intermediate microeconomics, are required.
Please note that this corresponds to approximately three semesters of full-time studies in Economics. Business
Administration courses are in general not counted as Economics.

Qualification
Degree of Master of Social Sciences (One Year) with a Major in Economics

On completion
Economists work in both the private and public sectors. Economists are sought after in local and central
government, in the Central Bank, the Ministry of Finance and the Central Statistics Bureau, as well as in the
European Union. Within the private sector, there is a demand for economists in banks, insurance companies,
finance departments and trade unions. Demographic changes have led to a greater demand for qualified
economists. After completion of studies, the prospects of finding relevant work are good.

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COURSES RELATED TO MASTER'S IN ECONOMICS:-

Master, 91 -150 credits

The courses on the advanced level create a deeper understanding of economic theory as well as of economic
relations. Economic theory will be applied to a wide range of important subject matters. Students will also be
trained to perform an independent analytical presentation where the abilities developed in the different
subcourses will be implemented. In writing the essay the student can chose between writing a 30 credit essay
or split the task into two 15 credit essays.

The structure of the advanced level creates an opportunity to specialise according to the students own
interests. Courses in, e.g., financial economics, international trade theory, industrial organisation and public
finance are avaliable. In these courses we investigate the international division of labour, structural change,
ownership and control structures in firms, theories concerning multinational firms, geographical location and
industrial clusters as well as neoclassical theory concerning prices and the allocation of resources. The
students will gain a deeper knowledge in fields like venture capital and the organisation of firms.

Courses in fall 2011

Financial Economics 2 (7,5 credits)

Industrial Organization 2 (7,5 credits)
International Trade Theory 2
Econometrics 2 (7,5 credits)
 Essay(15 credits)
Essay (30 credits)

Course content

Industrial organisation
2
The object of this course is for students to gain a deeper understanding of the interaction beteween
competition, regulation, and legislation. Competition policy and competition authorities aim to preserve
competition in the markets, through three basic prohibitions against: cartel formation and other anti-
competitive agreements, abuse of dominance (or market power), and anti-competitive mergers. The aim of
economic regulation is to create competition, for example by forcing the owners of networks and other
infrastuctures to provide access to their competitors. This type of regulation is done by e.g. telecom and
electricity regulators. The course analyses both market failures and regulatory failures or, in other words, the
delicate balance between markets and regulators necessary for efficiency and consumer welfare. The course
looks into the issue of optimal regulatory design. A number of case studies regarding regulatory issues and
network industries such as telecom, banking and electric utilities, are examined. The course deals with similar
issues as Industrial Organization 1, but whereas the introductory course takes th perspective of the firm, the
focus is now overall welfare and the governments role as a regulator of markets.

Corporate finance
The course gives a theoretical as well as an empirical presentation of the financial choices in firms, in particular
joint stock companies. We will focous on the decisions concerning finance and dividends. The classical problem
conserning the separation of ownership and control will also be investigated in depth as well as the impact of
ownership on the market value of the firms financial instruments. We will also analyse arguments in favour of
mergers and acquisitions, including "hostile" acquisitions. Finally, an international comparision of different
systems for corporate governance will be made, where we begin with the Swedish model for ownership and
control of firms.

International macroeconomics
In this course the impact of globalisation on macroeconomic policy will be analysed in a context where we use a
macroeconomic theory based on capital. The structure of capital creates a link between the entrepreneur on the
micro level and growth on the macro level. Fiscal, monetary and exchange rate policies are treated from a
development perspective, where the relation between the financial system and the real economy is of major
concern. The theoretical analysis will be applied on transition economies in the Baltic region and in central Asia.

Comparative socio-economic systems

The course describes how the socioeconomic system (the cultural, political and economic system) creates
opportunities for entrepreneurship and growth. The structure of capital creates a link between the entrepreneur
on the micro level and economic growth on the macro level. Essential institutions as language, norms, laws and
money are investigated as social capital. During the course economics students will use the theory of
capital while students from other disciplines use accepted methods from their own disciplines. The theoretical
analysis will be applied on transition economies in the Baltic region and in central Asia.

Financial economics 2
In this course we will describe different methods that could be used in order to derive optimal security
portfolios. We will also explore theories of the determinants of the prices of shares and financial derivates.
These theories will then be used in order to understand how we can deal with risk in financial as well as non-
financial firms.
Econometrics 2
In this course the student will be familiarised with the classical linear regression models. Extensions of the
standard model will be investigated focusing i.e. on problems such as multicollinearity, heteroscedasticity,
autocorrelation, specification error as well as autoregressive models. The application of simultaneous equation
systems on time series will be introduced. In this course we also introduce software for statistical analysis in
order to make econometric investigations according to the principles learnt in the course.

International trade theory 2

The course creates a deeper understanding of the incentives that cause the international division of labour.
During the course we also investigate the impact of the international division of labour on growth and structural
change. In this context we will describe Ricardos theory of comparative advantages, the Heckscher - Ohlin
factor proportion model as well as modern theories of international trade under imperfect competition. We will
also analyse the importance of intra-industry trade, transnational firms, foreign direct investments and explore
modells of geographical localisation.

Essay
The course begins with a methodological introduction on the basics of academic essaywriting. Then follows a
critical analysis of a few previously written master essays. Seminars will also be given where the students
preliminary papers are discussed.

Economics, Master's Programme, 60 ECTS credits

(Magisterprogram i nationalekonomi, 60 hgskolepong)

Programme code P1701

Academic school School of Social Sciences
Education cycle Advanced
Valid from HT 2007 (autumn semester)

Validation

1 This programme syllabus was validated by the Faculty Board for

. Humanities, Social Sciences and Technology at Sdertrns hgskola on
2008-05-30 according to the stipulations in the Higher Education
Ordinance.

Entry requirements
2.
The equivalent of English B and a Bachelors degree including 90
HE/ECTS credits in Economics.

3 National qualifications framework: Degree of Master (One Year)

.
Knowledge and understanding

For a Degree of Master (One Year) students must

 Demonstrate knowledge and understanding within the main field
of study, including an overview of the field of study and in-depth
knowledge of particular areas, as well as an understanding of
current research and development.

Demonstrate in-depth knowledge of methodology in the main field

of study.

Skills and abilities

For a Degree of Master (One Year) students must

Demonstrate an ability to integrate knowledge and to analyse,

evaluate and handle complex phenomena, questions and
situations, even with limited information.

Demonstrate an ability to independently identify and formulate

questions, as well as plan and, with appropriate methodology,
carry out qualified tasks within set time frames.

Demonstrate an ability, both orally and in writing, to present and

discuss ones conclusions and the knowledge and arguments on
which they are based, in dialogue with different groups.

Demonstrate such skills as required to participate in research and

development, or qualified work.

Judgement and approach

For a Degree of Master (One Year) students must

Demonstrate an ability, within the main field of study, to make

evaluations with regard to relevant scholarly, social and ethical
aspects, as well as an awareness of the ethical aspects of research
and development.

Understand the possibilities and limitation of research, its role in

society and mans responsibility for how it is used.

Demonstrate an ability to identify ones own need of further

knowledge and take responsibility for improving ones
competences.

4 Local qualifications framework

.
Knowledge and understanding

On completion of the programme, students have:

 gained a deeper understanding about economic theory as well as
different strategies for making economic analyses

aquired a deeper understanding about how advanced economic

theory can be used in order to make professional analyses of well
defined cases

gained a deeper knowledge about the foundations on which the

theories and methods used in Economics are based.

Skills and abilities

On completion of the programme, students have:

gained an ability to implement advanced economic theory to well

defined cases

developed the skills required to participate in constructive

dialogues about complex economic events

developed an ability to make a presentation of an economic

problem

developed the skills to implement theories and methods in an

independent way when analysing economic cases

developed an ability to arrange and present the results from an

independent analysis and to deliver the presentation in time.

Judgement and approach

On completion of the programme, students have:

an ability to make an evaluation of a scholarly work in respect of

the choice of theory and method

developed a serious attitude about the importance of checking

academic papers in terms of reliability and relevance according to
the statistical methods that should be used.

Employability

5 Economists work in firms, organisations and public authorities, both on

. the national as well as on the municipal level. Economists can be found
in banks, the ministries, in the central bank and in the EU
administration.

6 Qualification
.
 Title of qualification

Filosofie magisterexamen inom huvudomrdet nationalekonomi

Degree of Master of Social Sciences (One Year) with a Major in
Economics

Qualification stipulation

The degree of Master of Science (one year) is awarded on

completion, by a student, of courses equivalent to 60 credits with
a degree of specialisation determined by the individual institute of
higher education. At least 30 credits must be awarded for courses
of depth within the main field of studies including a minimum of
15 HE credits for an independent project in the main field. A
student must previously have been awarded a degree of Bachelor
of Science for courses equivalent to 180 credits, or an equivalent
qualification from abroad.

Programme design

The Master's programme is divided into a compulsory part and an

optional part. The compulsory part may be a dissertation (30 credits) or
7 two extended essays (15 credits each). The students may choose
. between these two alternatives. In addition, the Master's programme
contains four optional courses worth 7.5 credits each. In this optional
part, the student is given the opportunity to gain a deeper
understanding of specialised fields by making his/her own selection from
a range of different courses.

Compulsory courses
8
.
Economics: advanced-level course, 60 higher education/ECTS credits
A student on a study programme is guaranteed a place on the
compulsory courses or on the specializations/courses within the
programme. (For entry requirements, see 12, Other Stipulations.)

Optional courses
9
.
-
A student is guaranteed a place on a range of courses equivalent to a
full workload. There is no guarantee that a student is offered a place on
his/her first choice of course. For entry requirements, see course
syllabus.

10 Dissertation or project stipulations

.
A dissertation (30 credits) or two extended essays (15 credits each).
The student is offered the opportunity to begin writing the
 dissertation/essays from the beginning of the programme.

Accreditation for prior studies

11.
A student has the right to have prior learning assessed for
accreditation within the study programme.