Master's Degree Programme in Banking and International Finance, Master of Science in Economics and Business Administration (2 yrs)

Degree name
Master of Science (Economics and Business Administration)
Planned duration
2 years
Studies begin
Autumn 2018
Extent of the study programme
120 ECTS credits
Language of instruction
Degree level
Master's degree
Tuition fee per year for non-EU/EEA students
10000 Euros

Study objectives

The BIF programme provides an interdisciplinary degree and a strong quantitatively oriented background for the students to serve as professionals especially in financial markets, banking and other duties in the fields of economics and finance requiring highly analytical performance.

More about the language of instruction

This Master’s Degree Programme is taught entirely in English.

Study contents

The curriculum of the programme contains courses in core themes of economics, finance, and financial accounting. Structure of the programme and course descriptions are available here.

Tuition fees

In Finnish universities, there are no tuition fees for EU/EEA citizens. Tuition fees concern only non-EU/EEA degree students who start their studies in English-taught Master's degree programmes in August 2017 or after that.

The tuition fee is 10 000 euros / academic year.

The fees will not concern those non-EU/EEA students who

  • have started their studies before autumn 2017
  • are enrolled in Doctoral/PhD level studies and research
  • study in degree programmes taught in Finnish
  • are EU/EEA citizens or their family members (spouse / child)
  • are already residing in Finland or some other EU country on a permanent basis (i.e. are equivalent to EU citizens *)

*) continuous (A) or permanent (P/P-EU) residence permit type

University of Jyväskylä has scholarships available for students who are required to pay tuition fees. Scholarships are applied for when applying for the admission to the programme.

For more information about tuition fees and scholarships visit:

Structure of studies

The BIF  programme is a two-year full-time programme (120 ECTS credits). The structure of the programme can be found here.

Career opportunities

Prominent job market positions for the graduates from the BIF programme are central bank and other bank economists, analysts, bank managers, and other researcher, specialist and manager positions in the service of research institutions and financial sector in general.


After graduation students are awarded the title Master of Science (Economics and Business Administration).

Postgraduate study opportunities

Completing the BIF programme gives graduates the possibility to apply for doctoral studies for example in the doctoral program of the Graduate School of Finance (, or after completing some advanced level courses in economics outside the curriculum of the BIF programme, also in the Finnish Doctoral Program in Economics (

  • finance
  • economics
  • banking

Application period: Master's Degree Programmes (University of Jyväskylä) (15.11.2017 at 08:00 - 10.01.2018 at 15:00)

Student admission to study programme

The selection process comprises of two parts:

1) Reviewing the application documents

2) Personal / Internet interview


Phase I: Assessment of eligible applicants based on the application documents

You will receive an e-mail notification when the documents have been pre-processed and, if necessary, a request to supplement the application.

The student selection committee at JYU assesses the content of the applications. Ineligible applications will be disregarded. The selection committee will rate the applications on the basis of their academic background, motivation letter, research interests and proven experience in the field. The different aspects of the application will have the following weights:

Selection criteria Points
Educational background 0-8
Motivation letter 0-8
Knowledge of English language  0-2
Relevant work (or other) experience 0-2
Total max.  20

The student selection team ranks the eligible applications and makes a pre-selection. The highest scoring applicants will be invited to a personal / internet interview. Applicants living in Finland will be expected to come to the personal interview if invited.


Phase II: Interviews and final student selection

The points for the interview are allotted as follows:

Analytical skills 0-4 points
Knowledge of the field of study 0-4 points
Applicant’s motivation 0-9 points
Spoken English  0-3 points

The final score is a combination of the application score (max. 20 points) and the interview score (max. 20 points) so the final maximum score is 40 points.

Last application round 31.5 points was required for a study place.


Required degree

Bachelor’s degree (academic first cycle degree), relevant to the field of education, and completed with good grades. Admission of an applicant graduating after the application deadline is conditional till s/he submits the degree certificate, the deadline being July 17th, 2018.

English language proficiency

English language proficiency demonstrated is only one of the following ways:

1)      Upper secondary school degree, English being the medium of instruction, from the following countries: Finland, Sweden, Norway, Denmark, Iceland, Great Britain, Ireland, the United States, Canada, Australia or New Zealand.

2)      A higher education degree, English being the medium of instruction, from the following countries: EU/EEA country, Switzerland, the United States, Canada, Australia or New Zealand. The degree must be fully completed in English and the thesis must be written in English. The language of instruction must be clearly marked in the degree certificate or transcript of records, or other official document provided by the higher education institution in question.

3)      a TOEFL (Test of English as a Foreign Language) score of 600 (paper-based) or 100 (internet-based)

4)      an IELTS (International English Language Testing System) score of 7

5)      a Cambridge ESOL’s Certificate of Proficiency in English (CPE) or Cambridge ESOL’s Certificate in Advanced English (CAE) grade C or above

6)      PTE (Pearson Test of English) 65

7)      National Certificate of Language Proficiency (YKI) for English taken in 2012 or after, with skill level 4 or higher (in all 4 sections)

8)      Applicant has graduated  from a Finnish institute of higher education, or s/he is completing a Finnish higher education degree, and the degree includes at least 6 ECTS of studies in academic English (Common European Framework of Reference for Languages levels B2-C1 and field-specific terminology). Applicants who wish to prove their English proficiency in this way are required to submit the form available at: However, applicants who have completed a minimum of 6 ECTS of studies in academic English at the University of Jyväskylä are not required to submit the form.

Please note:

As there are often some delays in the language proficiency processing, please ensure that you register for the language test well in advance of the application deadline so that the test can be completed and the results received in time to meet the deadline. It usually takes approximately a month for the test results to arrive at the institution.

If the results of the language test are below the required minimum, the application will not be processed.

IELTS, TOEFL and PTE are valid for two years. The test result must be valid during the application period.

Required attachments

Required attachments

1)      Officially certified transcript of records from the student’s institute of higher education both in the original language and in English (translated by an authorised translator). In cases where the original language is English, one certified copy is sufficient. Note that the transcript is a document containing information on courses taken and grades and credits obtained. A certificate of registration or a diploma is not sufficient.  All educational documents must be officially certified by the awarding institution, or legalised. Officially certified copies issued by a Finnish notary public will also be accepted. Additional information: NB: If you are completing or have completed your degree in a Finnish university or university of applied sciences, your degree was completed on 1 January 2003 or later, and you have a Finnish personal identification code, you do not need to submit officially certified copies of your educational documents.  

2)      Officially certified copies of degree certificates both in the original language and in English (translated by an authorised translator). In cases where the original language is Finnish or English, one certified copy is sufficient. All educational documents must be officially certified by the awarding institution, or legalised. Officially certified copies issued by a Finnish notary public will also be accepted. Additional information: NB: If you are completing or have completed your degree in a Finnish university or university of applied sciences, your degree was completed on 1 January 2003 or later, and you have a Finnish personal identification code, you do not need to submit officially certified copies of your educational documents.  

3)      Copy of a residence permit that exempts its holder from paying tuition. Required only from applicants who are liable to pay tuition based on their nationality, but are in possession of a residence permit that exempts them from paying tuition. Such residence permits include: EU Blue Card, type A or P residence permit card in Finland, P-EU residence permit card, or an EU Family Member’s Residence Card in Finland.

4)      Copy of a valid passport (the identification pages with name, date, place and expiry date) or other identification document (i.e. personal identity card, driving license)

5)      Certificate of English language proficiency

6)      Curriculum Vitae (CV)

7)      Motivation letter

All attachments should be sent by the end of the application round (January 10th, 2018).

Attachment Delivery address Deadline
Required attachments
University Admissions Finland
Unioninkatu 40 C
10.01.2018 15:00

Additional information on applying

Application round opens: November  15th, 2017

Application deadline: January 10th, 2018

Applicants are informed of results by 28 March 2018

Accepting a study place: April 20th, 2018

Commencement of the studies: September 1st, 2018

Tuition fee 10 000 euros per year for non-EU/EEA citizens (tuition fee to be confirmed at university level).

Request for rectification:

Admissions services

Admission Services

Visiting address:
ADMISSION SERVICES, Seminaarinkatu 15 (T-building), 2nd floor

Postal address:
ADMISSION SERVICES P.O.Box 35, 40014 University of Jyväskylä

Telephone: +358 40 805 3018

Jyväskylä University School of Business and Economics

Student benefits

Information on living expenses

In Finland, the general cost of living is relatively high. You must be able to cover your everyday living expenses independently so you should have at least 700-900 euros per month at your disposal. When applying for student residence permit, you (unless you are EU/EEA student) will need to show, that you have at least 560 € per month (6720€ per year) at your disposal. This is the absolute minimum required by the immigration authorities. EU citizens who come to Finland to study do not need to apply for a student residence permit, however they should also be able to cover their living costs independently.

Please look also at the information concerning the tuition fees charged (from non-EU/EEA students).

The average monthly living expenses for a student in Finland are approximately 700-900€. This may vary a bit, depending on your study location in Finland – for example, accommodation and other living costs are not necessarily so high in Jyväskylä than other larger cities.

As a student you can get discounts in student restaurants and cafeterias, public transport, etc. Student housing with shared facilities is usually a low-cost accommodation option.

You can’t be guaranteed to find employment during your studies so it is not possible to cover part of your living expenses doing work.

Financing your studies

The University of Jyväskylä offers high-quality, research-based Master’s degree programmes in English.

In compliance with Section 10 of the Universities Act (558/2009), a university must charge a fee of at least EUR 1,500 per an academic year from a student admitted to education other than bachelor’s or master’s degree studies in Finnish. Fees are not charged to a citizen of a state belonging to the European Economic Area or to a person who is equivalent to a European Union citizen under a treaty concluded by the European Union and its Member States with another contracting party, or to a family member of the individual. Nor is a fee charged to a person with the European Union Blue Card, a permanent residence permit or a long-term resident’s EU residence permit issued to a third-country national referred to the Finnish Aliens Act, or to a family member of the individual. The Aliens Act is applied in the definition of persons regarded as family members. Furthermore, no fee is charged to a student participating in commissioned education in compliance with Section 9 of the Universities Act.

A university must have a scholarship system to support the studies of students participating in fee-charging degree education.

For further information, please see: tuition fees and scholarship.

The cost of course literature is not very high, since most of the course books can be borrowed from the University Library.

International students cannot apply for student loans and grants in Finland, unless you have lived in Finland for the past two years in some other capacity than that of a student and can be considered permanent residents in Finland. Further information:

Health care services

The Finnish Student Health Service (generally referred to as YTHS) provides health and medical care for Bachelor's and Master's level students who have joined the Student Union. Doctoral students are not entitled to the services of YTHS. For further information, please see: healthcare.

Information about accommodations

Comfortable student apartments are located within walking distance or a short bus ride away from the campus.

Student housing in Jyväskylä is provided by KOAS (The Central Finland Housing Foundation) and Kortepohja Student Village. The student apartments are located about 2.5 - 4 kilometers from the University main campus and the city center. Degree students should apply for accommodation as soon as they have been admitted to the University of Jyväskylä.


All students studying at the University of Jyväskylä are responsible for obtaining their own insurance. You should therefore acquire your own health, accident and travel insurance before coming to Finland.

Contact details

Visiting address:
Jyväskylän yliopiston kauppakorkeakoulu, Agora

Postal address:
PL 35 (Agora)