Industrial Economics - Master of Science Degree Programme
Study programme description for study year 2024-2025
Credits (ECTS)
120
Studyprogram code
M-INDØKG
Level
Master's degree (2 years)
Leads to degree
Master i teknologi / sivilingeniør
Full-/Part-time
Full-time
Duration
4 Semesters
Undergraduate
No
Language of instruction
Norsk
The Industrial Economics Master of Science (M.Sc.) programme equips you with the theoretical and practical understanding of engineering and natural sciences, and business and management sciences through the lens of economics.
The programme is multidisciplinary and offers the flexibility to tailor your specialization toward an industrial sector that best suits your professional goals. The green transition, exemplified by the changing landscape of energy markets, promises to make economies more environmentally sustainable and resilient to shocks. In connection to this, the work embedded in this study programme lays the foundation for your path toward advancing the UN Sustainable Development Goals, especially focusing on UN SDGs 7 (Affordable and Clean Energy), 9 (Industry, Innovation and Infrastructure), and 12 (Responsible Consumption and Production). The technical and managerial expertise you gain will be relevant for management positions in a variety of sectors nationally and internationally, including energy, the marine industries and other industries, construction, trade, services, the public sector, and science and academia.
The admission requirements for the Industrial Economics M.Sc. programme are a three-year bachelor’s degree in engineering and documented competence in business administration and microeconomics. The latter may be demonstrated through courses completed prior to application to the master's program or by taking preliminary courses.
The programme is a post-graduate degree, runs over 4 semesters, and has a scope of 120 ECTS points. After completing the programme, you will be awarded the Norwegian title of “Sivilingeniør”.
Learning outcomes
A candidate with a completed and passed two-year master's degree in industrial economics shall have the following overall learning outcomes defined in terms of knowledge, skills and general competence:
Knowledge
K1: Have advanced professional knowledge of scientific theory, methods and applications in economics, investment, decision analysis and project management and specialized insight into a limited area within economics and technology.
K2: The candidate can apply this knowledge to economic and technical issues in society associated with industry and business based on the discipline's history, traditions, distinctive nature and place in society.
Skills
S1: Can collect and process data to analyse technical and economic problems in a way that integrates technical and economic considerations.
S2: Can evaluate decision and investment alternatives in both commercial and public projects.
S3: Can design decision basis and solution alternatives that can be communicated to managers with both technology and economics background.
S4: Can organize and execute procurement contracts in projects and in other organizations (specialization contract).
S5: Can plan and carry out follow-up of project (specialization project management).
S6: Can do fundamental analysis of markets, assess price risk and know how to use financial instruments to reduce risk (specialization in investment and finance)
General competence
G1: Can analyse relevant academic, professional and research ethical issues.
G2: Can apply their knowledge and skills in new areas to carry out advanced tasks and projects.
G3: Can collaborate in interdisciplinary environments for solution of technical/economic challenges.
G4: Can communicate extensive independent work and master the subject area's forms of expression.
G5: Can communicate about professional issues, analyses and conclusions within the field, both to specialists and to the general public.
G6: Can contribute to innovation and innovation processes.
Career prospects
The technical and managerial expertise you gain will be relevant for management positions in a variety of sectors nationally and internationally, including energy, the marine industries and other industries, construction, trade, services, the public sector, and science and academia.
After completing the master's degree, it is possible to apply for admission to the doctoral program in risk management and societal safety.
Course assessment
Schemes for quality assurance and evaluation of studies are stipulated in Quality System for Education.
Study plan and courses
Enrolment year:
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Compulsory courses
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INDMAS: Master Thesis in Industrial Economics
Year 2, semester 3
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Compulsory courses
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IND500: Investment Analysis
Year 1, semester 1
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IND510: Project Management
Year 1, semester 1
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IND520: Decision Analysis in Excel
Year 1, semester 2
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INDMAS: Master Thesis in Industrial Economics
Year 2, semester 3
-
-
Choose one course in 1st semester
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DAT540: Introduction to Data Science
Year 1, semester 1
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STA510: Statistical Modeling and Simulation
Year 1, semester 1
-
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Specialization Engineering - choose one of the pre-approved 'packages'
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Petroleum Engineering
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PET505: Directional Drilling and Well Flow Engineering
Year 1, semester 1
Directional Drilling and Well Flow Engineering (PET505)
Study points: 10
-
PET555: Process Simulation
Year 1, semester 2
-
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Computer science
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DAT510: Security and Vulnerability in Networks
Year 1, semester 1
-
DAT520: Distributed Systems
Year 1, semester 2
-
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Cybernetic/Signal Processing
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ELE500: Signal Processing
Year 1, semester 1
-
ELE520: Machine Learning
Year 1, semester 2
-
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Engineering Structures and Materials Technology
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BYG550: Structural Dynamics
Year 1, semester 1
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MSK525: Corrosion and materials technology
Year 1, semester 2
-
-
Risk Management and Maintenance
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Risk Management and Maintenance - Compulsory course
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RIS505: Foundations of Risk Analysis and Risk Science
Year 1, semester 1
Foundations of Risk Analysis and Risk Science (RIS505)
Study points: 10
-
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Risk Management and Maintenance - Choose 10 ECTS in 2nd semester
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IAM510: Smart Operations and Maintenance
Year 1, semester 2
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RIS510: Reliability Analysis
Year 1, semester 2
-
-
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Civil engineering - Specialization Structural engineering
-
BYG660: Concrete Structures, advanced course
Year 1, semester 1
-
BYG530: Plastic Analysis of Structures
Year 1, semester 2
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MSK520: Corrosion
Year 1, semester 2
-
-
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Specialization choice
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Contract administration
-
Contract administration - compulsory course
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IND610: Contracts - Design and Management
Year 1, semester 1
-
-
Choose one course in 2nd semester
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IND530: Contract Strategy
Year 1, semester 2
-
IND550: Project Cost Estimation and Risk Analysis
Year 1, semester 2
-
-
Contract administration - electives, semester 1-3, 20 ECTS
-
IND650: Innovation Management and Entrepreneurship
Year 1, semester 2
-
MSB309: Corporate Finance
Year 1, semester 2
-
IND630: Strategy and Management
Year 1, semester 1
-
IND640: Derivatives, Risk and Markets
Year 1, semester 1
-
-
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Project management
-
Project management - compulsory course
-
IND550: Project Cost Estimation and Risk Analysis
Year 1, semester 2
-
-
Choose one course in 1st or 3rd semester
-
IND610: Contracts - Design and Management
Year 1, semester 1
-
IND630: Strategy and Management
Year 1, semester 1
-
-
Project management - electives, semester 1-3, 20 ECTS
-
IND530: Contract Strategy
Year 1, semester 2
-
IND640: Derivatives, Risk and Markets
Year 1, semester 1
-
IND650: Innovation Management and Entrepreneurship
Year 1, semester 1
-
MSB255: Supply Chain and Operations Management
Year 1, semester 1
-
MSB309: Corporate Finance
Year 1, semester 1
-
-
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Green change and innovation management
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Green change and innovation management - compulsory courses
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IND570: Green Transition
Year 1, semester 1
-
IND650: Innovation Management and Entrepreneurship
Year 1, semester 1
-
-
Electives, 20 credits
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IND530: Contract Strategy
Year 1, semester 2
-
IND550: Project Cost Estimation and Risk Analysis
Year 1, semester 2
-
IND610: Contracts - Design and Management
Year 1, semester 1
-
IND640: Derivatives, Risk and Markets
Year 1, semester 1
-
MSB309: Corporate Finance
Year 1, semester 1
-
-
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Investment and finance
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Investment and finance - compulsory course
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IND660: Financial Engineering in Python
Year 1, semester 2
-
-
Choose one course
-
IND640: Derivatives, Risk and Markets
Year 1, semester 1
-
MSB309: Corporate Finance
Year 1, semester 1
-
-
Electives, 20 ECTS
-
IND550: Project Cost Estimation and Risk Analysis
Year 1, semester 2
-
IND610: Contracts - Design and Management
Year 1, semester 1
-
IND630: Strategy and Management
Year 1, semester 1
-
MSB255: Supply Chain and Operations Management
Year 1, semester 1
-
-
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Operation Analyse
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Operation Analyse - compulsory course
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IND670: Operations Research in R
Year 1, semester 1
-
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Choose one course
-
IND550: Project Cost Estimation and Risk Analysis
Year 1, semester 1
-
RIS525: Risk Assessment, Economic Evaluation and Decisions
Year 1, semester 1
Risk Assessment, Economic Evaluation and Decisions (RIS525)
Study points: 10
-
-
Electives, 20 ECTS
-
IND610: Contracts - Design and Management
Year 1, semester 1
-
IND630: Strategy and Management
Year 1, semester 1
-
IND640: Derivatives, Risk and Markets
Year 1, semester 1
-
MSB255: Supply Chain and Operations Management
Year 1, semester 1
-
MSB309: Corporate Finance
Year 1, semester 1
-
IND530: Contract Strategy
Year 1, semester 2
-
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