Hanken School of Economics Economics Master's Thesis Guide: 2620-E, 30 ECTS, 26170 Seminar and Two Tracks

Quick answer: what is the Hanken Economics thesis route?

The current Hanken School of Economics Master’s programme in Economics is an English-language, two-year 120 ECTS Master of Science (Economics and Business Administration) programme in Helsinki. It has two study tracks, the general track (gMSc) and the more technical research track (rMSc). For the current 2025–2027 curriculum, both tracks use the same thesis package: 26170 Research Seminar in Economics, 5 ECTS, followed by 2620-E Master’s Thesis, 30 ECTS. The research seminar is separate from the thesis credits. Hanken’s current two-year master rules independently require a 30 ECTS thesis, a 5 ECTS seminar and methodology studies within the advanced studies.

1. The two Economics tracks share one current thesis regime

The general and research tracks are academically different, but the current official study plan does not assign them different thesis codes or thesis credit values. Both use 26170 and 2620-E. This is important because the research track contains substantially more advanced microeconomics, macroeconomics and econometrics, while the general track is designed around professional economist skills and empirical analysis. Those differences shape what a student may be prepared to do, but they do not create two separate Hanken thesis systems. A thesis guide can therefore cover both tracks while still making the methods context explicit.

2. 2620-E is the exact current Master’s thesis object

The exact current English-language thesis object is 2620-E Master’s Thesis, 30 ECTS. It appears in Hanken’s 2025–2027 Economics study plan for both the general and research tracks. The institutional Degree Regulations also state that the two-year master’s degree includes a 30 ECTS thesis within advanced studies. Students should therefore not import a different thesis code or ECTS value from Finance, Accounting or another Hanken programme even though many two-year programmes have the same 30 ECTS institutional minimum.

3. 26170 Research Seminar in Economics is a separate 5 ECTS course

The current Economics structure includes 26170 Research Seminar in Economics, 5 ECTS in addition to the 30 ECTS thesis. Current Hanken Moodle listings independently show 26170 being delivered in Helsinki in both 2026/P1-P2 and 2026/P3-P4. This matters for planning because seminar work must not be counted as if it were embedded inside 2620-E. Hanken’s general thesis process also begins with registration for and participation in the research seminar of the major or programme, where the thesis topic is chosen or assigned and a supervisor is provided.

4. Check current Sisu prerequisites before registering for 26170

The public thesis page states that students must satisfy the prerequisites of the research seminar, but the actual current prerequisites are controlled by the course description in Sisu. A public programme page is therefore not enough to confirm whether a particular student can register in a specific semester. Before planning a start date, check the current 26170 Sisu implementation, teaching period, prerequisites, registration window and any seminar instructions. Current Moodle listings confirm the seminar exists, but they should not be treated as a substitute for the formal Sisu course description.

5. The general track prepares for empirical professional economics

The general track is 120 ECTS and Hanken describes it as developing the core tools of a professional economist. Current studies include Competition Economics, Behavioral Economics, microeconomics, macroeconomics and econometrics or applied microeconometrics through Helsinki GSE cooperation. This gives students a strong empirical environment, but it does not mean that every thesis must use one fixed regression design. The appropriate method follows from the research question, the available evidence and what the student can justify scientifically.

6. The research track is more technical, but 2620-E is still a Master’s thesis

The research track has more mandatory core courses and is explicitly more technically demanding. Its current course environment includes advanced microeconomics, advanced macroeconomics, dynamic optimisation and advanced econometrics. Hanken positions it as a strong route toward PhD studies, but this does not turn 2620-E into a doctoral dissertation. A research-track student may use technically sophisticated models or identification strategies, yet the thesis is still examined under Hanken’s common Master’s thesis assessment rubric.

7. Helsinki GSE broadens the course environment, not the thesis authority

Economics at Hanken is delivered in cooperation with Helsinki GSE, including Aalto University and the University of Helsinki. Some current Economics courses are taken directly from those partner universities. That cooperation expands the student’s theoretical and empirical toolkit, but it does not automatically transfer Aalto or University of Helsinki thesis rules to a Hanken student. The controlling thesis object remains Hanken’s 2620-E, and Hanken’s own supervision, submission, maturity-test, examination and grading rules control the thesis unless an official Hanken rule states otherwise.

8. Start from a researchable economic question, not from a favourite model

Hanken’s current thesis rubric separately assesses the problem statement, purpose, theory, choice of methods and use of methods. This structure rewards alignment. A student should therefore begin by defining the economic problem and the claim that the available evidence can realistically address. Choosing a technically impressive model before checking whether it fits the question or available data can create avoidable problems. The method should be a consequence of the research design rather than the identity of the thesis.

9. Build the theory and empirical design together

Economics theses often become weak when the theoretical framework and empirical analysis develop as separate documents. A stronger design connects mechanisms, observable implications and the empirical strategy. If theory predicts how incentives, information or market structure should affect behaviour, the empirical section should make clear which observed variables or experimental outcomes correspond to those theoretical concepts. Hanken’s assessment rubric evaluates both the theoretical framework and the use of theory, so simply reviewing theory without using it in the analysis is not enough.

10. Association is not automatically causation

A central evidence boundary in Economics is the difference between association and causal effect. A regression coefficient may describe a conditional relationship without identifying what would have happened under a different treatment, policy or market condition. Causal language requires an identification strategy and assumptions appropriate to the design. Randomisation, credible natural experiments, difference-in-differences, instrumental variables, regression discontinuity or other methods can support causal interpretation when their assumptions are defensible, but none becomes causal merely because the method name appears in the thesis.

11. Explain identification assumptions, not only estimation commands

A technically correct software command does not establish the credibility of an empirical design. For causal work, explain why the variation used for identification can answer the research question. If using difference-in-differences, discuss the relevant parallel-trends logic and design choices. If using an instrument, explain relevance and exclusion. If using a discontinuity, justify the assignment rule and bandwidth logic. The exact checks depend on the design, but the general principle is stable: the thesis must defend the assumptions linking the observed data to the causal claim.

12. Separate statistical significance from economic importance

A coefficient can be statistically precise while being economically small, or economically large while imprecisely estimated. Report effect sizes, units and uncertainty in a way that allows the reader to understand practical meaning. Avoid writing that a result is “important” only because a p-value crosses a conventional threshold. When appropriate, compare magnitudes with meaningful baselines or existing literature and explain what the estimate implies for firms, consumers, markets or policy.

13. Experimental Economics needs both internal and external validity

Hanken Economics has explicit strength in behavioural and experimental economics. Experimental designs can provide strong causal evidence within the controlled setting, especially when treatment assignment and outcome measurement are clear. However, an internally valid laboratory effect does not automatically show that the same magnitude or mechanism applies in a different population, institution or real market. Describe the sample, incentives, treatment, outcome measures and experimental environment, then keep generalisation proportional to the evidence.

14. Behavioural findings should stay tied to what was measured

A behavioural result may show how participants responded under a particular incentive or information structure. It should not automatically become a universal statement about human behaviour. Distinguish observed behaviour, the mechanism proposed to explain it, and the broader theoretical interpretation. If several explanations are compatible with the observed outcome, state that limitation. This makes the conclusion more defensible and better aligned with Hanken’s emphasis on interpretation rather than simply presenting results.

15. Structural models need transparent assumptions

Hanken’s Economics research environment includes structural modelling. Structural work can combine economic theory and data to estimate parameters or simulate counterfactuals, but the conclusions depend on model structure, behavioural assumptions, identification and estimation choices. A thesis should make clear what is directly observed, what is estimated and what is imposed by the model. Counterfactual policy or welfare results should be presented as conditional on the model and identifying assumptions rather than as assumption-free facts.

16. Industrial-organisation claims need a clear market and welfare logic

Industrial organisation and competition analysis are major Hanken research strengths. In this area, descriptive concentration, pricing or entry patterns do not alone prove market power, collusion or a welfare effect. Define the market, explain the economic mechanism and connect the empirical design to the competition question. If making policy claims, distinguish what is measured from what is inferred about consumer welfare, firm conduct or counterfactual outcomes.

17. Data access should be checked before the topic is fixed

An economically interesting question is not automatically a feasible thesis. Before finalising the topic, confirm that the required data can actually be obtained, legally used and documented within the available time. Check observation level, period, variable definitions, missingness, identifiers and whether key treatment or outcome variables exist. If the analysis depends on restricted, proprietary or confidential data, clarify access and publication constraints early because Hanken Master’s theses are public.

18. Keep a reproducible data trail

For empirical work, preserve the link from raw data to the tables and figures in the thesis. Record the data source, download or access date, inclusion and exclusion rules, variable construction, merges, transformations and analysis code. Where relevant, separate raw data from processed data and keep a clear script order. This is useful not only for reproducibility but also for explaining unexpected changes in sample size or estimates during supervision.

19. Hanken requires a data processing description

The current Hanken thesis process explicitly tells students to complete a data processing description. Treat this as an early research control rather than an administrative form to complete at the end. Identify what data will be collected or reused, where it will be stored, who can access it, whether it contains personal or confidential information, and what happens after the project. Hanken also provides a distinct data-management process for bachelor’s and master’s students.

20. Personal data and ethical review depend on the actual research design

An Economics thesis does not automatically involve personal data or require ethical review. A project using public aggregate macroeconomic data may have no participant route at all. By contrast, surveys, interviews, laboratory or field experiments, linked administrative microdata or identifiable individual-level records can create additional data-protection and ethics obligations. Hanken lists specific conditions that can trigger advance ethical review, including departures from informed consent, particular research involving minors, unusually strong stimuli, above-normal mental-harm risk and safety threats.

21. Consent and GDPR legal basis are not the same decision

When collecting participant data, informed consent to participate in the research and the lawful basis for processing personal data are related but different governance issues. Students should use the Hanken student RDM process and current templates rather than assuming that a signed consent form solves every data-protection question. Minimise collected personal data, define access and retention, and avoid placing identifying information into analysis files unless it is genuinely required.

22. Confidential data cannot simply be hidden inside the public thesis

Hanken states that all Master’s theses are public after approval and cannot be classified as confidential. If a thesis uses confidential company or institutional background material, that material must stay outside the public thesis manuscript. Where reviewers need access for grading, it may be provided separately. The public thesis should report enough methodological information to support assessment without disclosing protected material. This boundary should be agreed early with the supervisor and data provider.

23. The normal thesis length is 60–70 factual pages

Hanken’s current guidance recommends 60–70 pages of factual content for a two-year Master’s thesis. The normal maximum is 100 pages including the cover, contents, references and appendices, unless a deviation is agreed in advance. This is a scope guide, not a target to inflate mechanically. A well-defined research question with a transparent method, focused analysis and defensible interpretation is more valuable than extra pages that do not advance the argument.

24. Referencing should follow the current Hanken or subject instruction

Hanken’s general reference guide follows APA 7 and says APA is the most commonly used style, while some departments prefer Oxford. The current public Economics sources in this dossier do not establish a unique Economics-only style. Follow the current instructions of the supervisor, seminar or subject. Whatever style is used, keep it consistent and make it possible for the reader to locate the original sources and distinguish the student’s analysis from prior work.

25. AI can support the process but cannot replace the research contribution

Hanken’s current AI guidance permits support such as brainstorming, planning, literature-search assistance, language review, coding, data processing and visualisation, subject to the applicable instructions. The student still owns the research question, analysis, interpretation and conclusions. AI must not fabricate data or references, generate findings presented as the student’s own, replace critical source evaluation or circumvent ethics and confidentiality requirements. Supervisors may require an AI-use report, prompt examples, drafts or version histories.

26. Be especially careful with confidential or personal data in AI tools

An AI tool that is acceptable for language support is not automatically approved for confidential company data, participant information, restricted microdata or unpublished research material. Hanken tells students to consider data classification and use approved systems consistent with data-protection rules. Before uploading any non-public material, confirm whether the system and intended processing are permitted. Removing obvious names does not necessarily make a dataset anonymous.

27. The maturity test is a separate compulsory part of the thesis process

Hanken requires a maturity test in connection with the Master’s thesis. It is a supervised essay related to the thesis and is assessed pass/fail. The current guidance recommends 400–800 words. For students in English-language programmes, the exact language route depends partly on previous school education and whether Finnish or Swedish language proficiency has already been demonstrated in an earlier higher-education degree. The supervisor evaluates the subject knowledge and a language teacher may also evaluate language where required.

28. Submission is final, so complete the checks before uploading

When the thesis is ready, Hanken uses an authenticated electronic e-form and requires the final thesis as PDF/A. The submitted version is final: Hanken states that no corrections or additions can be made after submission, and a thesis submitted for grading and failed cannot simply be submitted again through the normal route. Before uploading, complete supervisor-agreed corrections, check the PDF/A file, verify the title and metadata, confirm that confidential material has been removed and arrange the maturity test with the supervisor and department Administrative Coordinator.

29. Every English thesis goes through plagiarism control

All Hanken Master’s theses must pass plagiarism control. English-language theses are checked in Turnitin after e-form submission. The resulting similarity report is a tool for the supervisor, not an automatic plagiarism verdict. Correct quotation, paraphrasing, attribution and reference management therefore matter more than chasing an arbitrary similarity percentage. Fabricating or manipulating data and using AI contrary to instructions can also fall within Hanken’s academic-misconduct framework.

30. Two reviewers propose the grade and the Education Council grades the thesis

The current formal rules require two examiners from different subjects, with at least one examiner holding a doctoral degree. Hanken’s submission instructions state that one reviewer is the supervisor. The reviewers evaluate the thesis and propose a grade to the Education Council, which formally approves and grades it. Since 1 August 2021 Master’s theses use Hanken’s 1–5 scale, with 0 as fail, and the thesis grade contributes to the weighted Master’s GPA.

31. Use the current 2026 AoL rubric while writing, not only after submission

From 1 August 2026 Hanken uses the same Master’s thesis AoL rubric across programmes and majors. It evaluates the problem and purpose, theoretical framework and use of theory, choice and use of methods, results, interpretation, fulfilment of purpose, contribution and information sources. It also checks independence and process, maturity test, plagiarism control, research ethics and AI compliance. Reading the rubric early helps turn assessment criteria into design decisions rather than discovering them after the manuscript is finished.

32. A practical Hanken Economics thesis sequence

A safe sequence is to confirm the correct Economics track and current 26170 prerequisites, enter the research seminar, define a researchable question, agree the research plan with the supervisor, verify data access, complete the data-processing requirements and then build theory and method together. During analysis, keep claims within the design’s evidence limits and preserve a reproducible data trail. Use seminar and supervision feedback to revise the manuscript, check formatting, references, AI documentation and confidentiality, complete the maturity-test arrangements, prepare the final PDF/A and submit only when the supervisor-agreed final version is ready.

Final note

The most important programme-specific fact is simple: current Hanken Economics has two tracks but one verified thesis regime, 26170 Research Seminar in Economics, 5 ECTS + 2620-E Master’s Thesis, 30 ECTS. The general and research tracks provide different levels of technical preparation, but neither changes the current thesis identity or the institutional examination route. For anything operational, especially Sisu prerequisites, semester-specific seminar instructions, submission deadlines, contacts and AI or data procedures, recheck the current Hanken source before acting.