Print version produced   2010-04-12 09.06.18

Study Units

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Bachelor’s Degree

Bachelor’s Degree

Code: 70002 Credits: 180

Content

Bachelor’s Degree

Specialisation field of general economics:

  • All-Faculty General Studies 25
  • Basic and Intermediate Studies (including Bachelor’s Thesis) 84
  • Compulsory Minor Subject Studies (Mathematics and Statistics) 50
  • Other Minor Subject Studies (Elective Studies) 21

Specialisation field of econometrics:

  • All-Faculty General Studies 21
  • Basic and Intermediate Studies (including Bachelor’s Thesis) 84
  • Compulsory Minor Subject Studies (Mathematics and Statistics) 75

Subunits

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Bachelor’s Degree »
General Studies

General Studies

Credits: 16

Content

General Studies- general economics: 25 credits
  • econometrics: 20 credits

General Studies:

  • Orientation Course for International Students (HOPS = Personal Study Plan ) 2 credits
  • Finnish/Swedish language 10 - 15 credits (in econometrics min. 10 credits)
  • Foreign Language Text Comprehension + Oral Course 3 credits
  • ICT (tvt-opinnot) 5 credits
katal »
Bachelor’s Degree »
KA1 Principles of Economics
katal »
Bachelor’s Degree »
KA6 Special Topics »
KA1 Principles of Economics
katal »
Economics as a Minor Subject »
KA1 Principles of Economics

KA1 Principles of Economics

Code: 70101 Credits: 5

Objectives

The aim is to familiarise the student with the foundations of modern micro- and macroeconomic theory. Among the themes covered are: the theory of demand and supply, the market structures, the functioning of labour and money markets, welfare economics and economic policy, international economics.

Mode of assessment

A lecture course (36 hours), practical exercises and examinations.

Literature:

Readings for international students:
  • Gillespie Andrew: Foundations of Economics, Oxford University Press, 2007, (chapters 1-6, 9-13, 18-31).
  • European Central Bank: The Monetary Policy of the ECB 2004, (chapters 2-3).

http://www.ecb.int/pub/pdf/other/monetarypolicy2004en.pdf

  • Kiander J & Kröger O & Romppanen A (ed.): Finnish Economy, Structural Indicators 2006, (chapters 1 and 3. Government Institute for Economic Research, Helsinki 2006.)

http://www.vatt.fi/file/vatt_publication_pdf/finnisheconomy2006.pdf

N.B. Exercises (basic-level mathematical analysis / applications) are on important part of the studies in economics. The students who have not taken part in KA 1-course should fix themselves up with exercise material either independently or preferably by contacting responsible teacher Mai Allo well in time before the exam.

Courses

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Bachelor’s Degree »
KA2 Introduction to the Finnish and World Economies
katal »
Economics as a Minor Subject »
KA2 Introduction to the Finnish and World Economies

KA2 Introduction to the Finnish and World Economies

Code: 70102 Credits: 5

Objectives

The study unit is an introduction to the development, present state, structure and problems of Finnish and global economies and to the System of National Accounts.

Mode of assessment

A lecture course (24 hours) in Finnish and examinations.

Literature:

The list of English readings for KA2 (Introduction to the Finnish and World Economies) is

  • Kenwood, A. G. & Lougheed, A. L.: The Growth of the International Economy 1820-2000 (4th ed.), excluding parts 2 and 3;
  • Hjerppe, Riitta: The Finnish Economy 1860-1985, Growth and Structural Change. Bank of Finland Publications, Studies on Finland's Economic Growth XIII Helsinki 1989, 295 pages.
  • Ministry of Finance Finland (the latest September version): Economic Survey
You can download the survey at:

http://www.vm.fi/vm/en/04_publications_and_documents/01_publications/02_economic_surveys/20090915Econom/name.jsp

Courses

katal »
Bachelor’s Degree »
KA3 Orientation in working life

KA3 Orientation in working life

Code: 70120 Credits: 2

Mode of assessment

Major subject students of economics must complete also the study unit Orientation in Working Life. Students can compensate The Orientation in Working Life - unit by taking for example the courses organized by the Career Services of the University of Helsinki. Please, consult the administrator of the department or assistant Antti Huotari.
katal »
Bachelor’s Degree »
KA4 Microeconomic Theory
katal »
Economics as a Minor Subject »
KA4 Microeconomic Theory

KA4 Microeconomic Theory

Code: 70131 Credits: 12

Objectives

The aim is to introduce the micro basis of economic theory and to give an insight into some microeconomic applications. Among the topics are the following: further analysis of consumer demand; the theory of the firm; market structures; general equilibrium analysis and welfare theory.

Mode of assessment

A lecture course (45 hours) in Finnish, practical exercises and examinations.

Literature:

  • Varian H R: Intermediate Microeconomics. A Modern Approach (7th ed.), excluding chapters 11 and 13.

Courses

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Bachelor’s Degree »
KA5 Macroeconomic Theory
katal »
Economics as a Minor Subject »
KA5 Macroeconomic Theory

KA5 Macroeconomic Theory

Code: 70132 Credits: 12

Objectives

The aim of the study unit is to familiarise the student with macrotheoretical economic analysis so as to enable him/her to analyse economic policy with macroeconomic tools. Among the topics are the determination of national income, employment and inflation, and their dependence on fiscal, monetary and exchange rate policies. Special attention will be paid to the problems of open economies. Acquaintance with the Finnish economy is also required.

Content

The course on macroeconomic theory, (KA5), focuses on phenomena which are associated with the economy as a whole and in which the intertemporal choices of economic agents (e.g. saving, investment) play an essential role. Such phenomena are e.g. economic growth, unemployment, income distribution, inflation and the development of currency and asset markets. The course provides students with an aggregate view of the economy and equips them with the necessary tools for analyzing the effects of fiscal and monetary policy.

Prerequisites

Biämnesstuderande: studieperiod KA1.

Mode of assessment

A lecture course (45 hours) in Finnish, practical exercises and examinations.

Literature:

Readings for international students:
  • Burda M & Wyplosz C: Macroeconomics, A European Text (5th ed.).

Courses

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Bachelor’s Degree »
KA6 Special Topics
katal »
Economics as a Minor Subject »
KA6 Special Topics

KA6 Special Topics

Credits: 20
Major subject students must complete at least four 5 credits courses.

Objectives

The aim is to introduce some special topics in economics from which the student must choose at least four 5 credits courses.

Prerequisites

It is recommended that the student has completed study unit KA4 (microeconomic theory) before taking this study unit.

Minor subject students: Study unit KA1 is recommended. For study unit KA6h study unit KA5 (macroeconomic theory) is also required. For study units KA6j and KA6k study unit KA7 (Introduction to Econometrics) is also required. It is also recommended that the student has completed study unit KA8 (Mathematical Methods in Economics) before taking study unit KA6j.

Mode of assessment

A lecture course (24 hours) in Finnish and examinations.

Subunits

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Bachelor’s Degree »
KA6 Special Topics »
KA6a Theory of International Trade

KA6a Theory of International Trade

Code: 70151 Credits: 5

Prerequisites

It is recommended that the student has completed study unit KA4 (microeconomic theory) before taking this study unit.

Minor subject students: Study unit KA1.

Literature:

  • Appleyard D R & Field, Jr. A J: International Economics (3rd or 4th ed.), chapters 2-16 and 18.

Courses

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Bachelor’s Degree »
KA6 Special Topics »
KA6b Public Economics

KA6b Public Economics

Code: 70152 Credits: 5

Prerequisites

It is recommended that the student has completed study unit KA4 (microeconomic theory) before taking this study unit. Minor subject students: Study unit KA1.

Literature:

  • Stiglitz Joseph E.: Economics of the public sector (3rd ed.), chapters 1-6, 9, 17-20.

Courses

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Bachelor’s Degree »
KA6 Special Topics »
KA6c Environmental Economics

KA6c Environmental Economics

Code: 70163 Credits: 5

Prerequisites

It is recommended that the student has completed study unit KA4 (microeconomic theory) before taking this study unit.
katal »
Bachelor’s Degree »
KA6 Special Topics »
KA6d Urban Economics

KA6d Urban Economics

Code: 70181 Credits: 5

Prerequisites

It is recommended that the student has completed study unit KA4 (microeconomic theory) before taking this study unit. Minor subject students: Study unit KA1.

Literature:

  • Laakso Seppo & Loikkanen Heikki A: Kaupunkitalous. Johdatus kaupungistumiseen, kaupunkien maankäyttöön sekä yritysten ja kotitalouksien sijoittumiseen.Gaudeamus, Helsinki 2004.

Courses

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Bachelor’s Degree »
KA6 Special Topics »
KA6e Labor Economics

KA6e Labor Economics

Code: 70168 Credits: 5

Prerequisites

It is recommended that the student has completed study unit KA4 (microeconomic theory) before taking this study unit. Minor subject students: Study unit KA1.

Literature:

  • Borjas G J: Labor Economics (3rd or 4th ed.).
katal »
Bachelor’s Degree »
KA6 Special Topics »
KA6f Theory of Finance and Financial Markets

KA6f Theory of Finance and Financial Markets

Code: 70159 Credits: 5

Prerequisites

It is recommended that the student has completed study unit KA4 (microeconomic theory) before taking this study unit. Minor subject students: Study unit KA1.

Literature:

  • Brealey R & Myers S: Principles of Corporate Finance (6th ed.), chapters 2, 4, 6-8, 13-18 and 20 or (7th ed.), chapters 2, 4, 6-8, 13-18 and 20-21;
  • Rajan R G & Zingales L: Saving Capitalism from the Capitalists, Part I.

Courses

katal »
Bachelor’s Degree »
KA6 Special Topics »
KA6g National accounts and economic statistics

KA6g National accounts and economic statistics

Code: 70145 Credits: 5

Content

The course covers issues related to the measurement of macroeconomic quantities and the use of national accounts and other economic statistics in describing macroeconomic activity.

Courses

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Bachelor’s Degree »
KA6 Special Topics »
KA6h Essay Seminar

KA6h Essay Seminar

Code: 70170 Credits: 5

Objectives

KA6h Essay Seminar

Reading and writing economic texts under the guidance of a teacher. Further information will be given at the beginning of the Autumn and Spring terms.

Prerequisites

t is recommended that the student has completed study unit KA4 (microeconomic theory) and KA5 (macroeconomic theory) before taking this study unit.

Minor subject students: Study unit KA1.

katal »
Bachelor’s Degree »
KA6 Special Topics »
KA6i Methods in Economics

KA6i Methods in Economics

Code: 70183 Credits: 5

Prerequisites

It is recommended that the student has completed study unit KA4 (microeconomic theory) before taking this study unit.

Minor subject students: Study unit KA1.

Mode of assessment

KA6i Methods in Economics Intermediate or advanced courses in econometrics, statistics or mathematics by agreement with the professor of econometrics.
katal »
Bachelor’s Degree »
KA6 Special Topics »
KA6j Time Series Analysis

KA6j Time Series Analysis

Code: 70174 Credits: 5

Objectives

KA6j Time Series AnalysisMacroeconomic variables are typically time series. Core methods of analysis of time series are introduced.

Prerequisites

It is recommended that the student has completed study unit KA4 (microeconomic theory) before taking this study unit. For study units KA6j and KA6k study unit KA7 (Introduction to Econometrics) is also required. It is also recommended that the student has completed study unit KA8 (Mathematical Methods in Economics) before taking study unit KA6j.

Literature:

  • Enders W: Applied Econometric Time Series (chapters 1-2).

Courses

katal »
Bachelor’s Degree »
KA6 Special Topics »
KA6k Methodology of Econometrics

KA6k Methodology of Econometrics

Code: 70426 Credits: 5

Content

KA6k Methodology of EconometricsUnderlying fundamental questions and problems of econometric research and econometric modellability of different phenomena are inspected. (Knowledge of the main techniques of econometrics, at least, is assumed.)

Prerequisites

It is recommended that the student has completed study unit KA4 (microeconomic theory) before taking this study unit. For study units KA6j and KA6k study unit KA7 (Introduction to Econometrics) is also required.

Literature:

  • Griffiths W E & Hill C R & Judge G G: Learning and Practising Econometrics (Part X, chapter 26, pp. 827 - 842) "Economic Data Sources, Guidelines for Choosing a Research Project, and the Writing of a Research Report".;
  • Hendry D: Econometrics – Alchemy or Science? (Economica 1980:47, pp. 387-406);
  • Leamer E E: Let's Take the Con out of Econometrics (The American Economic Review 1983: 73/1, pp. 31-43.);
  • Pagan A: Three Econometric Methodologies: A Critical Appraisal (Journal of Economic Surveys 1987: Vol.1, No. 1, pp. 3-24.);
  • Hendry D F: Dynamic Econometrics (Part 1.8: Four levels of knowledge);
  • Hoover K D & Perez S J: Data Mining Reconsidered: Encompassing and the General-to-Specific Approach to Specification Search (Econometrics Journal 1999:2, pp. 167-191);
  • Hansen B E: Methodology: Alchemy or Science. Review Article (Economic Journal 1996:106, pp. 1398-1413.);
  • Summers L: The Scientific Illusion in Empirical Macroeconomics (Scandinavian Journal of Economics 1991:93, pp. 129-148);
  • Vartia Y O: Ovatko tilastolliset tutkimustulokset vain monimutkaisesti perusteltuja mielipiteitä? (Kansantaloudellinen aikakauskirja 1988:3, pp. 305-309)(Also available in English).

(These articles are available for copying at the Department office for a student´s own use).

katal »
Bachelor’s Degree »
KA6 Special Topics »
KA6l Economic terms and applications

Economic terms and applications

Code: 70052 Credits: 5

Courses

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Bachelor’s Degree »
KA6 Special Topics »
KA6m Other Topics (by Agreement)

KA6m Other Topics (by Agreement)

Code: 70165 Credits: 5

Content

Other topics by agreement.

Here the student may take other courses by agreement, or related courses from the other departments or universities as Aalto University School of Economics or Hanken School of Economics. See our www-page "Opetus muualla" (in Finnish) http://www.helsinki.fi/kansantaloustiede/opiskelijaksi/muuopetus.html

Before taking any courses, please, consult the administrator of the Disciple of Economics.

Prerequisites

It is recommended that the student has completed study unit KA4 (microeconomic theory) before taking this study unit.
katal »
Bachelor’s Degree »
KA6 Special Topics »
KA6m Development Economics

Development Economics

Code: 70185 Credits: 5

Mode of assessment

No lectures during the academic year 2009 - 2010.
katal »
Bachelor’s Degree »
KA6 Special Topics »
KA6m Economics and Politics of European Integration

Economics and Politics of European Integration

Code: 70180 Credits: 5

Courses

katal »
Bachelor’s Degree »
KA6 Special Topics »
KA6m Ethics and Economics

Ethics and Economics

Code: 70184 Credits: 5

Courses

katal »
Bachelor’s Degree »
KA6 Special Topics »
KA6m History of Economic Theory

History of economic thought

Code: 70425 Credits: 5

Content

The course gives an introduction to the history of economics. The course also explored the connection between changes in economics, and in social, economic and technological development. The course consists of lectures and student presentations, to be done as group work.

Courses

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Bachelor’s Degree »
KA6 Special Topics »
KA6m Pension Economics

Pension Economics

Code: 70148 Credits: 5

Content

The course includes economic theory, applications and statistics related to pensions and life-cycle from the point of view of welfare and economy of households (individuals) as well as from the point of view of economy of pension systems and national economy. In addition to different types of pension systems, the course offers knowledge on other ways of consumption smoothing along the life-cycle.

Courses

katal »
Bachelor’s Degree »
KA6 Special Topics »
KA6m Law and economics

KA6m Law and economics

Code: 70133 Credits: 5

Content

The course provides a panoramic overview of Economic Analysis of Law. Key areas of law are briefly introduced and analyzed from an economic perspective. The course includes a discussion of some of the most recent developments in Law and Economics.

Courses

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Bachelor’s Degree »
KA6 Special Topics »
KA6m Women, men and economy

KA6m Women, men and economy

Code: 70122 Credits: 5

Courses

katal »
Bachelor’s Degree »
KA6 Special Topics »
KA6m Population Economics

Population Economics

Code: 70134 Credits: 5

Content

The course explores issues of population from an economic perspective. Focus is on microeconomic and macroeconomic questions, but also demographic problems in developing economies and links from population growth to environmental degradation are considered. As applications, the course discusses economic backgrounds and consequences of HIV, life expectancy, infant mortality, and air pollution mortality.

Courses

katal »
Bachelor’s Degree »
KA7 Introduction to Econometrics

KA7 Introduction to Econometrics

Code: 70141 Credits: 12

Objectives

The aim is to introduce basic concepts and tools needed in estimating and evaluating regression models. The main emphasis is on basic assumptions and various economic applications of the linear regression model.

Prerequisites

Statistics: Obligatory studies in Statistics(at least 25 credits).

Mathematics: Mathematical analysis or Analysis I and Analysis II or Follow-up Course in Mathematical Analysis.

Minor subject students: study unit KA1 is also required.

Mode of assessment

A lecture course (38 hours) in Finnish, practical exercises and examinations

Literature:

  • Stock, J. H. & Watson, M. W.: Introduction to Econometrics (2nd ed.), parts 1 and 2 (chapters 1-9).

Courses

katal »
Bachelor’s Degree »
KA8 Mathematical Methods in Economics

KA8. Mathematical Methods in Economics

Code: 70175 Credits: 9

Objectives

The unit focuses first on optimization and comparative statics. Later on, it concentrates on difference and differential equations, dynamic systems and the economic applications of these. The purpose is that after the unit the student is able to solve and analyze economic models in static and dynamic environment.

Prerequisites

At least study units KA4 and KA5 and minor subject studies as Course in Mathematical Analysis and Introduction to Statistics.

Mode of assessment

A lecture course (36 hours) in Finnish, practical exercises and examinations.

Literature:

  • Chiang A C & Wainwright K : Fundamental Methods of Mathematical Economics. 4th ed., chapters 12-20 (pages 347-654).

Instead of the above mentioned book, chapters 14-19 (pages 444-630), it is also possible to read the finnish hand-out:

  • Palokangas T : Luentoja kansantaloustieteen dynaamisista matemaattisista menetelmistä. Opetusmonisteita. Helsingin yliopiston kansantaloustieteen laitos. No. 2:1999.

The hand-out is available on the www-site: http://www.valt.helsinki.fi/blogs/palokangas/teach.htm

Courses

katal »
Bachelor’s Degree »
KA10 Intermediate Seminar

KA10. Intermediate Seminar

Code: 70210 Credits: 4+2

Objectives

The intermediate seminar will prepare students in scientific discussion and writing. Attendance at the seminar is compulsory.

HOPS - Personal Study Plan

In our degree system, the personal study plan will play a central role in study guidance and the follow-up study progress. A student draws up a personal study plan, evaluates and reflects upon his/her own progress.

Prerequisites

At least study unit KA4 or KA5. (Study unit KA7 is also recommended)

Mode of assessment

In the seminar the student writes an essay about a topic agreed upon with the lecturer and presents it to the seminar group.

N.B. Registration for the Intermediate Seminar must be done as follows: for Fall term on 4th of September 2009 at 9-10 Economicum, seminar room 2; for Spring term on 15th January 2010 at 9-10 Economicum, seminar room 2.

Courses

katal »
Bachelor’s Degree »
KA12 Bachelor's Thesis and Maturity Test

KA12. Bachelor's Thesis and Maturity Test

Code: 70400 Credits: 6

Objectives

The aim is to familiarise the student with writing scientific texts and with research methods in economics.

Mode of assessment

The aim is to start writing the Bachelor´s thesis and completing it as far as possible during the intermediate seminar (see study unit KA10). The length of the thesis is approximately 15 - 25 pages.

N.B. Submitting the Bachelor´s thesis

The paper to be submitted as the thesis will first be read by the official language examiner of the Faculty to assess the sufficiency of the student´s command of correctly written scientific language. The paper is to be handed to the International Affairs´ Officer of the Faculty, who will forward it to the person in charge of the language check-up. Please, see instructions http://www.valt.helsinki.fi/faculty/Studies/theses/index.htm

When your Bachelor´s thesis is ready to be submitted, you have to enrol in order to submit it using WebOodi. The thesis must be submitted in duplicate to the department´s office (Arkadiankatu 7) after the language verification and after finishing the intermediate seminar, by the end of the next period of instruction at the latest.

Courses

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Master´s Degree, General Economics

Master´s Degree, General Economics

Code: 70090 Credits: 120

Content

The economics programme has two fields of specialization: general economics and econometrics. Studies in Economics for the Master´s Degree include the following study units: advanced microeconomic theory (15 credits), advanced macroeconomic theory (15 credits), advanced econometrics (10 credits), elective studies (20 credits), advanced seminar (20 credits) and the Master´s Thesis (40 credits).

Practical training (code 70430, 5 credits) can be included in the elective studies. Administrator of the department co-ordinates practical training and gives also further information.

N.B. Advanced Econometrics course (S3) will be made compulsory after two years´ transition period 1.8.2010. If students have begun their studies before 1.8.2008, the course will be compulsory after the transition period. If students don’t take this course (S3) in this case, they should take optional studies at least 30 credits.

Subunits

katal »
Master´s Degree, General Economics »
S1 Advanced Macroeconomic Theory
katal »
Master´s Degree, Econometrics »
S1 Advanced Macroeconomic Theory

S1 Advanced Macroeconomic Theory

Code: 70408 Credits: 15
N.B. If students have already completed the Advanced Macroeconomic Theory and have included it in their basic and subject studies in economics (in accordance with the old structure of the bachelor´s degree), they do not have to complete this course twice but they should take some other optional advanced courses in economics at least 15 credits.

Objectives

The aim is to deepen and broaden the knowledge of macroeconomic theory and analysis. The study unit gives also an insight into application of research methods in macroeconomics.

Prerequisites

Study units KA2, KA4, KA5, KA7 and KA8 and mathematics (25 credits) and statistics (25 credits). Prerequisite for students of econometrics: as above, but it is recommended tha the student has passes studies in statistics (50 credits) before taking this study unit.

Mode of assessment

A lecture course (42 hours) in English, practical exercises and examinations.

The course will be lectured jointly for students of the University of Helsinki and for students of Helsinki School of Economics.

This course is only meant for major subject students of the department of Economics.

Literature:

  • Sorensen P.B. & Whitta-Jacobsen H.J.: Introducing Advanced Macroeconomics (ISBN 0-07-710425-0)

Courses

katal »
Master´s Degree, General Economics »
S2 Advanced Microeconomic Theory
katal »
Master´s Degree, Econometrics »
S2 Advanced Microeconomic Theory

S2. Advanced Microeconomic Theory

Code: 70481 Credits: 15
N.B. If students have already completed the Advanced Microeconomic Theory and have included it in their basic and subject studies in economics (in accordance with the old structure of the bachelor´s degree), they do not have to complete this course twice but they should take some other optional advanced courses in economics for at least 15 credits.

Objectives

The course starts with the theory of production, theory of a firm and consumer theory in terms of optimising behaviour. Subsequently, conditions for the existence of competitive equilibrium are derived and the criteria for Pareto-efficient allocation of resources are presented. As further topics, the theories of uncertainty and strategic behaviour are introduced.

Prerequisites

Study units KA2, KA4, KA5 and KA7 and mathematics 25 credits and statistics 25 credits. Students of econometrics: as above but it is recommended that the student has passed studies of statistics (50 credits) before taking this study unit

Mode of assessment

A lecture course in English (42 h), practical exercises and examinations.

The course will be lectured jointly for students of the University of Helsinki and for students of Helsinki School of Economics.

This course is only meant for major subject students of the department of Economics.

Literature:

  • Jehle G A & Reny P J: Advanced Microeconomic Theory (2nd ed.)

Courses

katal »
Master´s Degree, General Economics »
S3 Advanced Econometrics
katal »
Master´s Degree, Econometrics »
S3 Advanced Econometrics

S3 Advanced Econometrics

Code: 70410 Credits: 10

Content

The course builds upon the introductory course in econometrics. The goal is to deepen the knowledge of the linear regression model and to get acquainted with the instrumental variables regression, models with a binary dependent variable and the basics of time series analysis.

Literature:

  • Stock, J. H. & Watson, M. W.: Introduction to Econometrics (2nd ed.), parts 3, 4 and 5 (chapters 10-18).

Courses

katal »
Master´s Degree, General Economics »
Y1 Optional Courses

Y1. Optional Courses

Credits: 20

Content

Elective studies in economics 20 credits altogether. Courses to be lectured in Finnish or in English are changing annually.

Prerequisites

Study units S1 and S2.

Subunits

katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
E2 Statistical Foundations of Econometric Modelling
katal »
Master´s Degree, Econometrics »
E2 Statistical Foundations of Econometric Modelling

E2. Statistical Foundations of Econometric Modelling

Code: 70511 Credits: 10

Objectives

Statistical motivation for econometric methods are presented in this study unit. The focus is on the most essential results of mathematical statistics and their relation to econometric research. The main themes are probability calculus including stochastic processes, statistical inference and especially econometric modelling. During the course the classical linear regression model is generalised to allow for stochastic regressors, variable parameters and dynamic models.

The course is intensive and proceeds quickly. Attending students are supposed to have a good knowledge of intermediate studies in statistics. The aim is to give an insight into the opportunities, problems and assumptions in econometric research.

Prerequisites

Intermediate studies in statistics and study units S1 and S2.

Mode of assessment

A lecture course (48 hours) in Finnish, an active participation in the theory and computer exercises and examinations.

Literature:

  • Spanos A: Statistical Foundations of Econometric Modelling.;
  • Vartia Y: Korjausliite Spanosin teokseen (available from the office of the Department of Economics).

Courses

katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Analysis and Synthesis
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Analysis and Synthesis

Analysis and Synthesis

Code: 70116 Credits: 10
katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
International Monetary System
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
International Monetary System

International Monetary System

Code: 70725 Credits: 5

Content

International Monetary System
katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Advanced Public Economics
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Advanced Public Economics

Advanced Public Economics

Code: 70611 Credits: 10

Content

This course analyzes how the public sector affects the economy through taxes, income redistribution, and the provision of public goods. The course also presents both positive normative analysis regarding the aims of the government, with a focus on income redistribution. Positive analysis uses the methods of political economics, while the normative part discusses different views on what is a good society.

Literature:

  • Hindriks J & Myles G D: Intermediate Public Economics, 2006, chapters 1-15.

Courses

katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
The Political Economy of Intergenerational Transfers
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
The Political Economy of Intergenerational Transfers

The Political Economy of Intergenerational Transfers

Code: 70196 Credits: 5

Content

The political support for pensions and education will be analyzed from different viewpoints. How do the ageing of the population and the mobility of the labour force affect the political process?

Literature:

The literature is available from Professor Panu Poutvaara.

Courses

katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Globalization and growth
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Globalization and growth

Globalization and growth

Code: 70195 Credits: 5

Content

Solving growth models.

Literature:

Please, consult professor Tapio Palokangas.

Courses

katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Monetary Policy
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Monetary Policy

Monetary Policy

Code: 70198 Credits: 5

Literature:

The literature is available from Docent Jouko Vilmunen.

Courses

katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Labour Market Theory
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Labour Market Theory

Labour Market Theory

Code: 70199 Credits: 5

Literature:

The literature is available from Professor Vesa Kanniainen.

katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Entrepreneurship Theory
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Entrepreneurship Theory

Entrepreneurship Theory

Code: 70197 Credits: 5

Content

The course on entrepreneurship introduces the theory of occupational choice and market entry as an entrepreneur. The effects of risks, finance, labor market institutions, regulation and taxation will be analyzed. Empirical evidence will be presented. The competition for innovations and for the market shares will be discussed.

Literature:

The literature is available from Professor Vesa Kanniainen.

Courses

katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Game Theory
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Game Theory

Game Theory

Code: 70445 Credits: 5

Content

In the course we study strategic decision making. The aim is to present the central concepts and applications used in economics. These include a set of typical games, normal form games, extensive form games, Bayesian games, repeated games and the most popular solution concepts. Applications have an important role, and they are used as a vehicle to motivate the theory.

Literature:

  • Osborne Martin J : An Introduction to Game Theory. (N.B. Excluding chapters 8, 11, 12, 13, 15 and 16). Oxford University Press, 2004, ISBN 0-19-512895-8.
katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Decision Theory
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Decision Theory

Decision Theory

Code: 70468 Credits: 5

Content

In the course we study the decision problem of an economic agent. The aim of the course is to present the central concepts and models used in economics. These include preference relation, its relation to the concept of utility, and the relation of these to decision making. The applications focus on consumer theory. We also study the expected utility theorem and the concept of risk. Applications deal with mostly with insurance. Time allowing we study the theory of social choice and case based decision theory.

Literature:

  • Rubinstein A: Lecture Notes in Microeconomic Theory, 2006, Princeton University Press.

Available in read-form in Rubinstein’s home page http://arielrubinstein.tau.ac.il/

katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Fiscal Federalism
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Fiscal Federalism

Fiscal Federalism

Code: 70469 Credits: 5

Content

This course analyzes efficiency and distributional consequences that increasing mobility of labor and capital has on taxation and public provision of education. The course analyzes both a common labor market in which taxation, social policies and education are left to lower-level governments, and a federal system in which both lower-level and higher-level governments play an active role. A special emphasis is on the European perspective, including the division of labor between the member states and the central level in the European Union.
katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Empirical macroeconomics
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Empirical macroeconomics

Empirical Macroeconomics

Code: 70428 Credits: 5

Content

The goal of the course is to provide an introduction to business cycle analysis and the methods of modern empirical macroeconomics. The topics include the measurement of the business cycle, dating and predicting business cycle turning points and structural change in business cycles characteristics. Econometric models suitable for capturing the behaviour of macroeconomic time series are introduced. Issues relating to the construction of macroeconomic data are also covered. In particular, many macroeconomic variables are subject to revisions that must be taken into account in empirical work, and the properties of revisions as well as methods to deal with them are discussed. The prerequisite is sufficient knowledge of time series analysis (at least S3. Advanced Econometrics or equivalent).
katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Macroeconometrics
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Macroeconometrics

Macroeconometrics

Code: 70458 Credits: 5

Content

The goal of the course is to provide an introduction to the methods of modern applied macroeconometrics. The different approaches currently used in applied work are reviewed, including the basics of the empirical dynamic stochastic general equilibrium models, but the main emphasis is on the analysis of vector autoregressive models. In particular, the identification of economic shocks by various methods and the use of the vector autoregressive framework in policy analysis are discussed. The prerequisite is sufficient knowledge of multivariate time series analysis (at least S3. Advanced Econometrics or equivalent).

Courses

katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
History of Economic Theory
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
History of Economic Theory

History of Economic Thought

Code: 70480 Credits: 5

Content

The course gives an introduction to the history of economics. The course also explored the connection between changes in economics, and in social, economic and technological development. The course consists of lectures and student presentations, to be done as group work.

The course is lectured in Finnish.

Literature:

  • Smith A: Wealth of Nations.

Courses

katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Economic Measurement
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Economic Measurement

Y1/E1 Economic Measurement

Code: 70490 Credits: 5

Content

Seminar on Economic Measurement

The seminar focuses on theoretical and practical aspects of economic measurement. Specific topics will be determined according to the participants' interests. However, suitable themes include index number theory, construction of economic time series, aggregation, measurement of output, productivity and capital, to name a few.

At each meeting a relevant scientific article is presented by either the teacher or a participant. The participants are required to familiarize themselves with the articles in advance. The exact requirements for getting the credits will be determined during the first meeting.

Courses

katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Political Economy
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Political Economy

Y1/E1 Political Economy

Code: 70446 Credits: 5

Content

The aim of the course is to give an overview of the research agenda of modern political economy. We study basic concepts and methods of political economy and use them to analyze questions like: What determines the size of the government? How do institutions shape policy choices and election outcomes? What are political business cycles?
katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Numerical models of household labour supply and savings behaviour
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Numerical models of household labour supply and savings behaviour

Numerical models of household labour supply and savings behaviour

Code: 70456 Credits: 5
katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Financial econometrics
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Financial econometrics

Financial econometrics

Code: 70433 Credits: 5

Content

The course gives an introduction to some of the most widely applied methods of econometrics from the perspective of financial markets. The main theme is estimation and modeling of volatility using high frequency data. Some of the work is done using the statistical analysis software R and previous previous knowledge of it is useful but not necessary.

Courses

katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
General Equilibrium Theory
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
General Equilibrium Theory

General Equilibrium Theory

Code: 70443 Credits: 5

Content

In the general equilibrium course the object of study is the equilibrium of the whole economy, so called Walras equilibrium. In a Walras equilibrium all the numerous markets have to clear simultaneuously. The focus is on careful modelling of the economy as well as on the conditions that guarantee the existence of a Walras equilibrium. The course covers the existence of Walras equilibrium, the continuum economy of Aumann, the relation of core and Walras equilibrium, and the game theoretic foundations of Walras equilibrium.

Literature:

  • Ellickson Bryan: Competitive Equilibrium, Theory and Applications, 1993.

Courses

katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Population economics
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Population economics

Population Economics

Code: 70460 Credits: 5

Content

The course explores issues of population from an economic perspective. Focus is on microeconomic and macroeconomic questions, but also demographic problems in developing economies and links from population growth to environmental degradation are considered. As applications, the course discusses economic backgrounds and consequences of HIV, life expectancy, infant mortality, and air pollution mortality.

Courses

katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Other topics (by agreement)
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Other topics (by agreement)

Other topics (by agreement)

Code: 70470 Credits: 5 - 10

Content

Here the student may take other advanced level courses by agreement, or related courses from the other departments or universities as Helsinki School of Economics or Swedish School of Economics. See also department´s www-page "Opetus muualla" http://www.valt.helsinki.fi/katal/opiskelu/muu.htm

Mode of assessment

Other topics (by agreement).
katal »
Master´s Degree, General Economics »
Y1 Optional Courses »
Practical Training
katal »
Master´s Degree, Econometrics »
E1 Optional courses »
Practical Training

Practical Training (Optional)

Code: 70430 Credits: 5

Objectives

The aim is to make the student more familiar with the work of an economist.

Content

Students majoring in economics can include optional practical training in their advanced studies. Each Faculty has annually a limited number of grants sponsored by the university. Please, see http://www.valt.helsinki.fi/faculty/Studies/internship/index.htm The Faculty of Social sciences provides information on training placements at public offices, research institutes etc. Information on vacant training placements will be available at Wiki. Many of the internships listed on https://wiki.helsinki.fi/display/valtrekry/Harjoittelupaikat are only described in Finnish. That doesn't necessarily mean though that international students wouldn't be able to do such an internship. Please ask the corresponding contact person about the possibility to do an internship!

http://wiki.helsinki.fi/display/valtrekry/

N.B. Applications for Practical Training in 2010: Applications can be submitted from 1 December to 31 December 2009 using an electronic form accessible on the Faculty Alma website https://alma.helsinki.fi/doclink/165930 from the beginning of the application period.

Other training

Training can also be completed without funding from the University. This requires that the student him- or herself arranges the traineeship and negotiates the pay and other conditions of work. The student must then request a short written description of his or her work duties from the employer, and obtain the approval of the contact person for the traineeship before it starts.

For further information about traineeships, please contact Ritva Teräväinen, Administrator (tel. 191 28733), who is also the contact person for traineeships in economics.

Prerequisites

The Bachelor´s Degree

Mode of assessment

At least 2 continuous months of practical training (3 months is recommended) at an institution. When the training has been finished the student must write a report about the training according to instructions given by the Disciple of Economics. Administrator of the unit of economics co-ordinates practical training and gives also further information.
katal »
Master´s Degree, General Economics »
Y3 Advanced Seminar

Y3. Advanced Seminar

Code: 70420 Credits: 20

Objectives

The aim is to familiarise the student with independent research work, writing scientific texts and presenting papers.

The student is advised to contact the professor who is leading the seminar before the start of the seminar to specify the subject of the Master’s thesis and to make the seminar work more efficient. The list of themes and professors in charge of the seminars will be available on the notice board at the Department of Economics in the beginning of both semesters.

N.B. Registration for the Advanced Seminar must be done as follows: for Fall term on 4th of September 2009 at 9-10 Economicum, seminar room 2; for Spring term on 15th of January 2010 at 9-10 Economicum, seminar room 2.

You can also submit your registration form (obtainable in the department´s office) prior to the above mentioned dates.

Prerequisites

Studies in Economics for the Bachelor´s degree, study units S1, S2 and S3 + language studies.

Mode of assessment

The advanced seminar runs for two semesters. The seminar work includes writing a subject outline, specifying of question setting and working out a research plan for the Master’s thesis. The aim is to start writing the Master’s thesis and completing it as far as possible during the seminars. The student produces one or two short presentations on the subject and two papers in the seminar. These two papers should be closely connected or preliminary parts of the thesis helping the student to finish the Master’s thesis. The advanced seminar can be started either in the Autumn or the Spring semester.

HOPS - Personal Study Plan

In the new degree system, the personal study plan will play a central role in study guidance and the follow-up study progress. A student draws up a personal study plan and reflects upon his/her own qualifications to work as an economist.

Courses

katal »
Master´s Degree, General Economics »
Y6/E6 Master’s Thesis
katal »
Master´s Degree, Econometrics »
Y6/E6 Master’s Thesis

Master´s Thesis

Code: 704220 Credits: 40

Objectives

The aim is to familiarise the student with independent research work and methods in economics. Further focus is on the use of references and writing scientific texts. New scientific results are not necessarily required from a good Master’s thesis. When choosing the subject for the Master’s thesis pay attention to how viable the subject is and the amount of work it demands. The workload of the Master’s thesis should reflect the 40 credits which are awarded.

Mode of assessment

The student receives guidance from the professor in question when writing the Master’s thesis.

Starting from the first of September 2005, students do not need to write a separate maturity test in order to graduate.

N.B. Submitting the Master´s thesis

When your Master´s thesis is ready to be submitted, you have to enrol in order to submit it using Weboodi. You can not submit your Thesis, unless you have taken care of the practice essay and the score is correctly added in the registry.

Master´s Thesis should be submitted in two copies to the Study Office of the Faculty of Social Sciences. Please check the deadlines! Please, see instructions http://www.valt.helsinki.fi/faculty/Studies/theses/index.htm

Evaluation

The thesis is graded as fail, approbatur, lubenter approbatur, non sine laude approbatur, cum laude approbatur, magna cum laude approbatur, eximia cum laude approbatur, laudatur.
katal »
Master´s Degree, Econometrics

Master´s Degree, Econometrics

Code: 70091 Credits: 120

Content

The economics programme has two fields of specialization: general economics and econometrics. Studies in Economics for the Master´s Degree specialising in econometrics include the following study units: advanced microeconomic theory (15 credits), advanced macroeconomic theory (15 credits),advanced econometrics (10 credits), elective studies (10 credits), advanced seminar (20 credits) and the Master´s Thesis (40 credits). N.B. Statistical Foundations of Econometric Modelling (10 credits) is a compulsory study unit for students specialising in econometrics. Students are supposed to have a good knowledge of intermediate studies in statistics.

Practical training (code 70430, 5 credits) can be included in the elective studies. Administrator of the department co-ordinates practical training and gives also further information.

N.B. Advanced Econometrics course (S3) will be made compulsory after two years´ transition period 1.8.2010. If students have begun their studies before 1.8.2008, the course will be compulsory after the transition period. If students don’t take this course (S3) in this case, they should take optional studies at least 20 credits.

Subunits

katal »
Master´s Degree, Econometrics »
E1 Optional courses

E1. Optional courses

Credits: 10

Subunits

katal »
Master´s Degree, Econometrics »
E3 Advanced Seminar

E3. Advanced Seminar

Code: 70420 Credits: 20

Objectives

The aim is to familiarise the student with independent research work, writing scientific texts and presenting papers.

Prerequisites

Studies in Economics for the Bachelor´s degree, study units S1 and S2 + language studies.

Mode of assessment

The advanced seminar runs for two semesters. The seminar work includes writing a subject outline, specifying of question setting and working out a research plan for the Master’s thesis. The aim is to start writing the Master’s thesis and completing it as far as possible during the seminars. The student produces one or two short presentations on the subject and two papers in the seminar. These two papers should be closely connected or preliminary parts of the thesis helping the student to finish the Master’s thesis. The advanced seminar can be started either in the Autumn or the Spring semester.

HOPS - Personal Study Plan

In the new degree system, the personal study plan will play a central role in study guidance and the follow-up study progress. A student draws up a personal study plan and reflects upon his/her own qualifications to work as an economist.

Courses

katal »
Economics as a Minor Subject

Economics as a Minor Subject

Code: 70010, 70030 Credits: esitetty ei-kumulatiivisena
Economics is also a useful Minor subject for students of other degree programmes. A student can choose from the following blocks (please, begin with your minor subject completing first the basic studies in economics):
  • Basic studies in Economics: 25 credits
  • Intermediate studies in Economics: 35 credits

Basic Studies in Economics includes study units KA1 (5 credits), KA2 (5 credits), and 15 credits of special topics which can be chosen freely from among the topics of study unit KA6.

Intermediate Studies in Economics includes study units KA4 (12 credits), KA5 (12 credits), and furthermore 11 credits of special topics which can be chosen freely from among the topics of study unit KA6 (please, consult lecturer Juha Vehviläinen).

Subunits

katal »
Postgraduate Studies in Economics

Postgraduate Studies in Economics

Objectives

Two degrees are offered at the postgraduate level. The Licentiate degree is the lower, optional post-graduate degree. A Doctoral degree is the final, highest postgraduate degree. The candidate is required to write a dissertation and defend it in a public examination. A student can aim at a Doctor´s degree without first getting a Licentiate.

Prerequisites

Requirements for admission

The requirements for postgraduate applicants in economics are:

1) The Master´s degree in economics or an equivalent degree. N.B. It is required that the applicant´s master´s degree obtained may not be completed earlier than 5 years ago.* 2) At least the grade “good” in the advanced studies in economics. 3) The preliminary research plan. 4) Information on the thesis´s supervisor. 5) Documents to be submitted: see the faculty´s home page: http://www.valt.helsinki.fi/faculty/adm/postgrad.htm

Postgraduate applications are handed by the Administrative Officer of the Faculty of Social Sciences, Ms Terhi Kulonpalo, and all enquiries etc. ought to be directed to her. There are two application deadlines per annum the 15th of May and 15th of November. The selection of postgraduate students is completed from four to six weeks after the closing dates.

*Please note that if the applicant´s master´s degree is completed earlier than 5 years ago, the student seeking admission in postgraduate studies must take part in a separate examination before he/she is able to submit his/her application. At least the grade “good” must be achieved in the exam. The literature is as follows:

  • Jehle G A & Reny P J: Advanced Microeconomic Theory;

and

  • Sorensen P B & Whitta-Jacobsen H J: Introducing Advanced Macroeconomics.

HECER´s new PhD Programme in Economics

HECER PhD Programme offers funding for four years. To apply to the HECER PhD Programme, please see http://www.hecer.fi/PhD/PhD_programme.htm

Mode of assessment

Registration

For each academic year, postgraduate students must be enrolled at the University of Helsinki. Registration for the upcoming academic year starts at the beginning of May and runs until end of August. Students should register also at the Discipline´s office at Arkadiankatu 7 at the beginning of Fall term (forms are available at the office).

Teaching

Postgraduate studies in economics are closely related to studies in the Finnish Doctoral Programme in Economics (FDPE). FDPE promotes high-quality doctoral education in economics in Finland by organizing systematic and diverse doctoral courses and seminars. FDPE is designed to provide doctoral students, irrespective of their base institution, with a thorough training in the skills required of the contemporary academic and professional economists. FDPE also acts as a channel for cooperation in research and thesis supervision.

FDPE is not a degree granting programme in itself but a joint programme of all 11 Departments of Economics in Finland. Thus, to be able to register with FDPE the student first needs admission at doctoral level to one of the participating universities. Having been accepted by the university the student should register with FDPE at the beginning of the academic year.

FDPE also has 15 fellowships available for promising and successful doctoral students in the Finnish universities. The fellowships are financed by the Ministry of Education. More information is available at http://www.hecer.fi/

Prerequisite in Mathematics and Statistics

At least following studies in mathematics and statistics are required:

  • Basic Studies in Mathematics (25 credit units)
  • Basic Studies in Statistics (25 credit units).

Subunits

katal »
Postgraduate Studies in Economics »
Postgraduate Examination in Economics

Postgraduate Examination in Economics

Code: 70800 Credits: 35

Content

Postgraduate studies, 35 credits, in Economics:
  • Postgraduate courses (25 credits)
  • Active participation in the postgraduate seminar for two semesters (10 credits).

Subunits

katal »
Postgraduate Studies in Economics »
Postgraduate Examination in Economics »
L1 Postgraduate Courses

L1. Postgraduate Courses

Credits: 25

Subunits

katal »
Postgraduate Studies in Economics »
Postgraduate Examination in Economics »
L1 Postgraduate Courses »
L1.1 Theory of Resource Allocation

L1.1 Theory of Resource Allocation

Code: 70802 Credits: 10

Content

a) Course in Microeconomic Theory in FDPE (Finnish Doctoral Programme in Economics) or

b) The following literature

Literature:

  • Mas-Colell A & Whinston M D & Green J R: Microeconomic Theory (chapters 1-10 and 12-20).

Courses

katal »
Postgraduate Studies in Economics »
Postgraduate Examination in Economics »
L1 Postgraduate Courses »
L1.2 Macroeconomic Theory

L1.2 Macroeconomic Theory

Code: 70803 Credits: 10

Content

a) Course in Macroeconomic Theory in FDPE (Finnish Doctoral Programme in Economics) or

b) The following literature

Literature:

  • Blanchard O J & Fischer S: Lectures on Macroeconomics (chapters 1-8);
  • Obstfeld M & Rogoff K: Foundations of International Macroeconomics (chapters 2, 5 and 9).

Courses

katal »
Postgraduate Studies in Economics »
Postgraduate Examination in Economics »
L1 Postgraduate Courses »
L1.3 Econometrics

L1.3 Econometrics

Code: 70826 Credits: 5

Content

a) Course in Econometrics in FDPE (Finnish Doctoral Programme in Economics) or

b) The following literature

Literature:

  • Hayashi F: Econometrics, chapters 5, 8 and 9-10 and
  • Pagan A: Three Econometric Methodologies: A Critical Appraisal. Journal of Economic Surveys 1987: Vol. 1, No. 1, 3-24.

Courses

katal »
Postgraduate Studies in Economics »
Postgraduate Examination in Economics »
L2 Postgraduate Seminar

L2. Postgraduate Seminar

Code: 70811 Credits: 10

Content

Active participation in a postgraduate seminar for two semesters (10 credits).

N.B. Postgraduate courses in microeconomic theory and macroeconomic theory must have been completed before registration for the seminar. The student must submit a research proposal (max. 3-4 pages) to the professor who is leading the postgraduate seminar before the start of the seminar.

Courses

katal »
Postgraduate Studies in Economics »
Other topics in Economics

Other topics in Economics (at least 25 credits)

Other topics in economics (25 credits altogether); a student can choose e.g. from the following study units L3, L4, L5 and L6 or by completing FDPE´s special courses (last-mentioned alternative is recommended).

Subunits

katal »
Postgraduate Studies in Economics »
Other topics in Economics »
L3 Classics in Economics

L3. Classics in Economics

Code: 70851 Credits: 5

Mode of assessment

L3. Classics in Economics Mode of assessment: Literature: complete one of the following options. Please, consult the examinator for the choice of the book.

Literature:

  • Smith A: The Wealth of Nations;
  • Ricardo D: Principles of Political Economy and Taxation;
  • Walras L: Elements of Pure Economics;
  • Marshall A: Principles of Economics;
  • Wicksell K: Föreläsningar i nationalekonomi (engl. Lectures on Political Economy);
  • Keynes J M: The General Theory of Employment, Interest and Money.
katal »
Postgraduate Studies in Economics »
Other topics in Economics »
L4 Studies in Economic History

L4. Studies in Economic History

Code: 70855 Credits: 3

Literature:

Literature according to agreement for example:
  • Mathias P & Davis J A (eds.): The First Industrial Revolutions
  • Grafts N & Tonniolo G: Economic Growth in Europe since 1945 (chapters 1-6, 8-9, 15-16 and 18).
katal »
Postgraduate Studies in Economics »
Other topics in Economics »
L5 Mathematical Methods and Econometrics

L5. Mathematical Methods and Econometrics

Code: 70853 Credits: 8

Content

This study unit can be completed as follows:

a) Postgraduate Course in Econometrics organized by FDPE or the following literature may be taken only if a student has not been able to participate, with reasonable grounds, in FDPE´s lecture course:

  • Hayashi F: Econometrics, chapters 1-4 and 6-7,

b) Statistical Foundations of Econometric Modelling, see study unit E2,

c) Studies in Time Series Analysis (consult the professor of econometrics),

d) Elective studies in econometrics or statistics (as time series analysis,sampling, multivariate methods etc.). In addition studies from the other departments or universities can be approved.

The professor of econometrics has to be asked to approve these studies.

Literature:

  • Hayashi F: Econometrics, chapters. 1-4 and 6-7.

Courses

katal »
Postgraduate Studies in Economics »
Other topics in Economics »
L6 Special Topics

L6. Special Topics

Content

Special topics according to agreement for example from the topics below:
  • L6.1 Public Economics, 3 credits
  • L6.2 Methodology, 3 credits
  • L6.3 Natural Resources and Environment, 3 credits
  • L6.4 International Money and Finance, 3 credits
  • L6.5 Economics in Transition, 3 credits
  • L6.6 Investment, Finance and Capital Markets, 3 credits
  • L6.7 Industrial Organization and the Theory of Competition
  • L6.8 Labor Economics, 3 credits
  • L6.9 Time Series Analysis, 3 credits
  • L6.10 Economic Growth and Business Cycle Theory, 3 credits
  • L6.11 Orientations in Macroeconomics, 3 credits
  • L6.12 Economic Evolution, 3 credits
  • L6.13 Finance in Continuous Time, 3 credits
  • L6.14 Economic Geography and Urban Economics, 3 credits
  • L6.15 Theories of Distributive Justice, 3 credits
  • L6.16 Other Topics, by Agreement, 3 credits
  • L6.17 History of Economic Thought, 3 credits
  • L6.18 Books by Agreement, 3 credits
  • L6.19 Dynamic Optimization, 3 credits
  • L6.20 Game Theory, 3 credits
  • L6.21 Economics of Uncertainty and Information, 3 credits

Subunits

katal »
Postgraduate Studies in Economics »
Other topics in Economics »
L6 Special Topics »
L6.1 Public Economics

L6.1 Public Economics

Code: 70861 Credits: 3

Literature:

  • Myles G O: Public Economics, chapters 3-12.

Courses

katal »
Postgraduate Studies in Economics »
Other topics in Economics »
L6 Special Topics »
L6.2 Methodology

L6.2 Methodology

Code: 70862 Credits: 3

Literature:

Literature (choose two of the following books):
  • Hausman D M: The Inexact and Separate Science of Economics
  • Marchi N & Blaug M (eds.): Appraising Economic Theories (chapters 1-6, 10-12 and 15-16)
  • Langlois R N (ed.): Economics as a Process: Essays in the New Institutional Economics
  • Henderson W & Dudley-Evans T & Backhouse R (eds.): Economics and Language
  • Wong S: The Foundations of Paul Samuelson's Revealed Preference Theory: A Study by the Method of Rational Reconstruction
  • Caldwell B J (ed.): The Philosophy and Methodology of Economics (Vol. I-III), one part according to agreement (must be agreed upon with the examinator of this study unit).
katal »
Postgraduate Studies in Economics »
Other topics in Economics »
L6 Special Topics »
L6.3 Natural Resources and Environment

L6.3 Natural Resources and Environment

Code: 70872 Credits: 3

Literature:

  • Clark C: Mathematical Bioeconomics (2nd ed.), chapters 1-5 and 8-9 or
  • Conrad J R & Clark C W: Natural Resource Economics.
katal »
Postgraduate Studies in Economics »
Other topics in Economics »
L6 Special Topics »
L6.4 International Money and Finance

L6.4 International Money and Finance

Credits: 3

Subunits

katal »
Postgraduate Studies in Economics »
Other topics in Economics »
L6 Special Topics »
L6.4 International Money and Finance »
L6.4a Theory of International Trade

L6.4a Theory of International Trade

Code: 70873 Credits: 3

Literature:

  • Helpman E & Krugman P R: Trade Policy and Market Structure;
  • Helpman E & Krugman P R: Market Structure and Foreign Trade (chapter 6)
katal »
Postgraduate Studies in Economics »
Other topics in Economics »
L6 Special Topics »
L6.4 International Money and Finance »
L6.4b Exchange Rate Dynamics

L6.4b Exchange Rate Dynamics

Code: 70874 Credits: 3

Literature:

  • Krugman P R: Currencies and Crises (ecluding appendices);
  • Murshed S M: Macroeconomics for Open Economies
katal »
Postgraduate Studies in Economics »
Other topics in Economics »
L6 Special Topics »
L6.5 Economics in Transition

L6.5 Economics in Transition

Code: 70875 Credits: 3

Literature:

  • Stiglitz J E: Whither Socialism?;
  • Amsden A & Kochanowicz J & Taylor L: Market Meets Its Match.
katal »
Postgraduate Studies in Economics »
Other topics in Economics »
L6 Special Topics »
L6.6 Investment, Finance and Capital Markets

L6.6 Investment, Finance and Capital Markets

Credits: 3

Content

Choose one topic of the following fields:
  • a) Theory of Investment, 3 credits
  • b) Theory of Finance, 3 credits
  • c) Theory of Banking, 3 credits

Subunits

katal »
Postgraduate Studies in Economics »
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L6.6 Investment, Finance and Capital Markets »
L6.6a Theory of Investment

L6.6a Theory of Investment

Code: 70876 Credits: 3

Literature:

  • Dixit A K & Pindyck R S: Investment Under Uncertainty.
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L6.6 Investment, Finance and Capital Markets »
L6.6b Theory of Finance

L6.6b Theory of Finance

Code: 70877 Credits: 3

Literature:

  • Huang C & Litzenberger R H: Foundations for Financial Economics (chapters 1-9).
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L6.6 Investment, Finance and Capital Markets »
L6.6c Theory of Banking

L6.6c Theory of Banking

Code: 70856 Credits: 3

Literature:

  • Freixas X & Rochet J C: Microeconomics of Banking.
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L6.7 Industrial Organization and the Theory of Competition

L6.7 Industrial Organization and the Theory of Competition

Code: 70867 Credits: 3 - 6

Literature:

Choose either
alternative a) 3 credits units
  • Tirole J: The Theory of Industrial Organization (Part I)
or
alternative b) 6 credits units
  • Tirole J: The Theory of Industrial Organization.
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L6.8 Labor Economics

L6.8 Labor Economics

Code: 70868 Credits: 3

Literature:

Articles of the following compilation book

(Articles): Handbook of Labor Economics (Vol. 3A, 3B and 3C) (must be agreed upon with the examinator) or

  • Pissarides C A: Equilibrium Unemployment Theory (2nd ed.).
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L6.9 Time Series Analysis

L6.9 Time Series Analysis

Credits: 3 - 6

Content

Choose one topic of the following fields:
  • a) Univariate Time Series Analysis, 6 credits
  • b) Special Topics, 3 credits
  • c) Multivariate Time Series Analysis, 6 credits
  • d) Analysis of Financial Time Series, 6 credits
  • e) Methodology of Macroeconometrics, 6 credits

Subunits

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L6.9 Time Series Analysis »
L6.9a Univariate Time Series Analysis

L6.9a Univariate Time Series Analysis

Code: 70897 Credits: 6

Literature:

  • Hamilton J: Time Series Analysis, chapters 1-5, 7-8 and 15-17.
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L6 Special Topics »
L6.9 Time Series Analysis »
L6.9b Special Topics

L6.9b Special Topics

Code: 70889 Credits: 3

Literature:

  • Hamilton J: Time Series Analysis (chapters 6, 14 and 21-22)
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L6.9 Time Series Analysis »
L6.9c Multivariate Time Series Analysis

L6.9c) Multivariate Time Series Analysis

Credits: 6

Prerequisites

L6.9a

Mode of assessment

See requirements of the Department of Mathematics and Statistics.
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L6.9 Time Series Analysis »
L6.9d Analysis of Financial Time Series

L6.9d) Analysis of Financial Time Series

Credits: 6

Mode of assessment

See requirements of the Department of Mathematics and Statistics.

Literature:

  • Franses P H & van Dijk D: Non-Linear Time-Series Models in Empirical Finance.
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L6.9 Time Series Analysis »
L6.9e Methodology of Macroeconometrics

L6.9e Methodology of Macroeconometrics

Code: 70890 Credits: 6

Prerequisites

Study units L6.9 a-c are recommended.

Literature:

  • Favero C: Applied Macroeconometrics.
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L6.10 Economic Growth and Business Cycle Theory

L6.10 Economic Growth and Business Cycle Theory

Code: 70870 Credits: 3

Literature:

  • Barro R J & Sala-i-Martin X: Economic Growth (chapters 1-6 and 10-12);
  • Gabisch G & Lorenz H-W: Business Cycle Theory (2nd ed.), readings must be agreed upon with the examinator.
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L6.11 Orientations in Macroeconomics

L6.11 Orientations in Macroeconomics

Credits: 3

Content

Choose one topic of the following fields:
  • a) Monetary Theory and Policy, 3 credits
  • b) Learning and Expectations in Macroeconomics, 3 credits
  • c) Labour Market and the Macroeconomy, 3 credits

Subunits

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L6.11 Orientations in Macroeconomics »
L6.11a Monetary Theory and Policy

L6.11a Monetary Theory and Policy

Code: 70883 Credits: 3

Literature:

  • Walsh C: Monetary Theory and Policy.
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L6 Special Topics »
L6.11 Orientations in Macroeconomics »
L6.11b Learning and Expectations in Macroeconomics

L6.11b Learning and Expectations in Macroeconomics

Code: 70884 Credits: 3

Literature:

  • Evans G & Honkapohja S: Learning and Expectations in Macroeconomics.
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L6 Special Topics »
L6.11 Orientations in Macroeconomics »
L6.11c Labour Market and the Macroeconomy

L6.11c Labour Market and the Macroeconomy

Code: 70885 Credits: 3

Literature:

  • Palokangas T: Labour Unions, Public Policy and Economic Growth.
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L6.12 Economic Evolution

L6.12 Economic Evolution

Code: 70882 Credits: 3

Literature:

  • Arthur W B & Durlauf S N & Lane D A (eds.): The Economy as an Evolving Complex System (vol. II, 1997), the following articles: (1) Arthur, Durlauf & Lane, (2) Arthur, Holland, LeBaron, Palmer & Taylor, (3) Darley & Kaufmann, (4) Durlauf, (5) Ioannides, (6) Krugman, (7) Leijonhufvud, (8) Lindgren, (9) Brock, (10) Blume, (11) Kirman, (12) Tesfatsion.
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L6.13 Finance in Continuous Time

L6.13 Finance in Continuous Time

Code: 70881 Credits: 3

Literature:

  • Shimko D C: Finance in Continuous Time: A Primer (chapters 1 and 3);
  • Merton R C: Continuous Time Finance (according to agreement e.g. chapters 3, 5 and 15)
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L6.14 Economic Geography and Urban Economics

L6.14 Economic Geography and Urban Economics

Code: 70886 Credits: 3

Literature:

  • Fujita M & Krugman P & Venables A J: The Spatial Economy: Cities, Regions and International Trade.
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L6.15 Theories of Ditributive Justice

L6.15 Theories of Ditributive Justice

Code: 70887 Credits: 3

Literature:

  • Roemer J E: Theories of Distributive Justice
or
  • Kolm S-C: Modern Theories of Justice (excluding part IV).
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L6 Special Topics »
L6.16 Other Topics, by Agreement

L6.16 Other Topics, by Agreement

Code: 70888 Credits: 3
Other Topics, by Agreement.
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L6.17 History of Economic Thought

L6.17 History of Economic Thought

Code: 70821 Credits: 3

Literature:

  • Blaug M: Economic Theory in Retrospect (4th ed.).
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L6.18 Books by Agreement

L6.18 Books by Agreement

Code: 70810 Credits: 3

Mode of assessment

Books by agreement (thesis-related literature). Please, consult the professor in charge of postgraduate studies.
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L6.19 Dynamic Optimization

L6.19 Dynamic Optimization

Code: 70823 Credits: 3

Literature:

  • Kamien M & Schwarz N: Dynamic Optimization (Part I: chapters 1-3, 9 and 17 and Part II and Appendix A + B).
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L6.20 Game Theory

L6.20 Game Theory

Code: 70824 Credits: 3

Literature:

  • Myerson R B: Game Theory, Analysis of Conflict (chapters 1-8).
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L6.21 Economics of Uncertainty and Information

L6.21 Economics of Uncertainty and Information

Code: 70825 Credits: 3

Literature:

  • Macho-Stadler I & Pérez-Castrillo J D: An Introduction to the Economics of Information.
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Licentiate and Doctoral Thesis

Licentiate and Doctoral Thesis

Objectives

The postgraduate degrees are the Licentiate and Doctoral degrees. It is possible to study for the doctorate without having a separate Licentiate thesis. The student, however, must complete the course and seminar work required for the Licentiate.

See also website http://www.valt.helsinki.fi/faculty/Studies/posteducation/index.htm

Courses

Advanced Public Economics, 10 op

E2. Ekonometrian tilastolliset perusteet, 10 op

Entrepreneurship, 5 op

Financial Econometrics

General Equilibrium Theory

Globalization and growth, 5 cr

KA1. Kansantaloustieteen perusteet, 5 op

KA2. Suomen talouselämän ja maailmantalouden esittely, 5 op

KA4. Mikrotalousteorian kurssi, 12 op

KA5. Makrotalousteorian kurssi, 12 op

KA6a International Economics, 5 cr

KA6b Julkinen talous, 5 op

KA6d Kaupunkitalous I, 5 op

KA6f Rahoituksen teoria, 5 op

KA6g Kansantalouden tilinpito ja taloustilastot, 5 op

KA6j Time Series Analysis

KA6m Economics and Politics of European Integration, 5 cr

KA6m Eläkkeiden taloustieteen kurssi, 5 op

KA6m Etiikka ja talous, 5 op

KA6m Law and Economics

KA6m Naiset, miehet ja talous

KA7. Ekonometrian johdantokurssi, 12 op

KA8. Kansantaloustieteen matemaattiset menetelmät, 9 op

Kandidaatintutkielman tarkastukseen jättäminen webOodissa

L1.1 Resurssien allokaation teoria, 10 op

L1.2 Makrotalousteoria, 10 op

L1.3 Ekonometria

L2. Jatkokoulutusseminaari, 10 op

Lehtori Vehviläisen seminaari

Macroeconometrics

Oppihistoria

Paikallinen julkistalous

Rahapolitiikka, 5 op

S1. Makrotalousteorian syventävä kurssi/Advanced Macroeconomic Theory, 15 cr

S2. Mikrotalousteorian syventävä kurssi/Advanced Microeconomics, 15 cr

S3. Ekonometrian jatkokurssi/Advanced Econometrics, 10 op

Seminar in Economic Measurement

Taloustieteen termejä ja sovellutuksia

The Political Economy of Intergenerational Transfers, 5 cr

Tutkielmaseminaari, 20 op

Tutkijatohtori Kieman seminaari

Väestötaloustiede

Yliopistonlehtori Huotarin seminaari

Yliopistonlehtori Luodon seminaari