In the modern knowledge economy, various forms of new knowledge, especially in technology, are critical factors underlying industrial innovation, competitiveness, and economic growth.
Through a combination of an advanced level of business management and economics in relation to engineering knowledge, you will be trained to analyse, understand and skilfully manage innovation processes in companies and other areas of society. This programme focuses on how and why companies innovate to compete and how companies can reap financial returns from their investments in innovation.
Management and economics of innovation master's programme at Chalmers
Innovation processes present challenges and opportunities for a range of different organisations, such as established firms, new entrepreneurial firms, universities and government agencies. Industry, as well as society, therefore need managers and employees who not only have scientific and engineering training but who also have acquired a thorough understanding of the innovation process and how it can be handled in a financially successful way.
At the intersection between technology, management and economics, the overall purpose of the programme is to train you to skillfully analyse and manage innovation and renewal. After having completed the programme, you should be able to:
- Analyse and understand how and why innovations, technical and scientific information and knowledge interact with market and economic forces.
- Identify, formulate and solve problems related to innovation and renewal activities involving technological, economic, organisational and institutional change.
- Handle and execute strategies and practical implementation for innovation and renewal by applying state-of-the-art research and management methods and tools.
- Lead, interact and communicate with qualified professionals within and outside their own organisations and/or their own knowledge field.
Together with committed teachers, that include you as a student in their research and students from various engineering disciplines, this programme creates a base for developing yourself and your ability to lead and develop organisations. In addition, you learn and use tools and frameworks for developing new technologies into viable businesses.
To help you acquire and utilize appropriate theoretical and methodological tools, the programme trains you by combining extensive practical training, often project based industry challenges, with critical analysis, putting theories and methods to effective use.
You will take part in lectures, seminars, workshops and supervised project work. Assessment techniques include oral examination and written examination; individual and group examinations. Special attention is devoted to developing your presentation skills.
All courses within the programme invite feedback from students on all essential aspects of the course and the education, something that clearly has supported the improvement of the programme. Furthermore, the mixture of students from different cultural and educational/engineering backgrounds supports the programme’s international profile.
The subjects of engineering economics, entrepreneurship and industrial management are fundamental areas in the Management and economics of innovation master’s programme. The courses included in the programme plan handle topics such as business management and technology.
Master's programme structure
The master's programme runs for a duration of two years. During each year, students can earn 60 credits (ECTS) and complete the programme by accumulating a total of 120 credits. Credits are earned by completing courses where each course is usually 7.5 credits. The programme consists of compulsory courses, compulsory elective courses and elective courses.
Compulsory courses year 1
During the first year the programme starts with six compulsory courses that form a common foundation in Management and economics of innovation. Each course is usually 7.5 credits.
- Technological change and industrial transformation
- Management of innovation R&D
- Creating new business
- Strategic management
- Innovation systems and sociotechnical transitions
- Research design and methods
Compulsory courses year 2
In the second year you must complete a master's thesis in order to graduate. The thesis may be worth 30 credits or 60 credits depending on your choice.
Compulsory elective courses
Through compulsory elective courses, you can then specialize in XXX, or a combination thereof. During year 1 and 2, you need to select at least 3 compulsory elective courses out of the following in order to graduate.
- Organizing for innovation
- Service management
- Strategic management and economics of IP
- Strategy creation and change
- ICT economics and policy
You will also be able to select courses outside of your programme plan. These are called elective courses. You can choose from a wide range of elective courses.
Programme plan, syllabus, course description and learning outcomes
Other Master's programmes that might interest you
Entry requirements (academic year 2021/22)
General entry requirements
An applicant must either have a Bachelor's degree in Science/Engineering/Technology/Architecture or be enrolled in his/her last year of studies leading to such a degree.
Specific entry requirements
Bachelor’s degree (or equivalent) with a major in: Industrial Engineering and Management or an Engineering Discipline. Note: A Bachelor's degree in Business Administration (BBA or B.B.A.) or Economics does not fulfil the requirement.
Prerequisites: Mathematics (at least 30 cr. including Mathematical Statistics at least 7,5 cr.) and studies in one or several of the following subjects: Organization theory, Project Management, Management, Innovation Management, Business Administration and/or Economics, History of Technology (at least 15 cr. which may include a maximum of 7.5 cr. of Sustainable Development)
Preferable course experience: Linear Algebra, Single Variable Analysis and Multivariable Analysis
English language requirements
English language requirements
Chalmers Bachelor’s degree
Are you enrolled in a Bachelor’s degree programme at Chalmers now or do you already have a Bachelor’s degree from Chalmers? If so, different application dates and application instructions apply.
Master of Science (MSc)Credits:
2 years Level:
Second Cycle Rate of study:
100% Instructional time:
Daytime Language of instruction:
English Teaching form:
On-campus (Location: campus Johanneberg)Tuition fee:
140 000 SEK/academic year *EU/EEA Citizens are not required to pay fees Application Code:
Mid-October - Mid-January every year
The programme is highly interlinked with the achievement of the UN Sustainable Development goals (SDGs).
The table below provides an overview of the sustainable development goals and the associated targets within the programme.
Goal 8: Decent Work and Economic Growth
Students and teachers in this programme are actively engaged in conceptual and practical frameworks to achieve higher productivity through innovation and technological upgrading.
Goal 9: Industry, Innovation and Infrastructure
Students and teachers collaborate to promote innovation policies in order to substantially increase the number of research and development workers per 1 million people.
Goal 13: Climate Action
Students and teachers in this programme are strongly involved in concepts and projects aiming to reduce industrial emissions and to achieve circular economies.
Future career opportunities will primarily be found in the business sectors, including large multinational firms as well as small technology- based firms. Examples of occupations include management consultancy, technology/industry analysis, project management, product development, R&D management, business development, corporate venturing, hi-tech entrepreneurship and venture capital. Interesting job opportunities also exist in government policy-making agencies, non- government organisations, universities and institutions commercialising science and technology.
Several of the programme’s professors also conduct research at CBI, Center for Business Innovation, at Chalmers. With funding from Vinnova, CBI is a major research centre in the field of management of innovation.
Research and industry connections
We operate in an environment with open and extensive affiliations with business and industry, and the research underlying the programme is therefore closely linked to current business practice and problems. This is demonstrated, for example, through guest lectures, joint research projects, Master’s thesis, applied projects dealing with current business issues. Additionally, the faculty is involved in executive education through CHAMPS, Chalmers.
Department of Technology Management and Economics
“I am more aware of the challenges in the industry”
Verawaty, Indonesia, Management and Economics of Innovation
Chat with Verawaty
Why did you choose this programme?
– With a bachelor’s degree in Industrial Engineering and several years of working experience, I was aware that changes in the industry were inevitable. We continuously encounter new technology and even brand-new business models. My programme has shown me that innovation is the key. We learn how to analyse and skilfully manage innovation systems within industries or organisations.
What have you been working on?
– During the first period, we studied the transformational framework related to innovation and technology. We did this by analysing different study cases and being a part of group projects. We chose cases where we examined different strategies and factors that determine the success or failure of a company, technology or innovation. The assignments were mostly done in groups, and as an international student, this has been a rewarding learning process. I have grown so much by exchanging ideas, opinions and constructive feedback.
What do you like the most about your programme?
– I have gained broader perspectives on the real challenges and opportunities that the industry is dealing with right now. I have learned this through lectures, discussions, study cases, and reading articles. Fresh insights from the industry through guest lectures from both startups and big firms have also played a large part in our programme. Chalmers is one of the major actors driving the innovation process in Gothenburg and therefore has a close connection with the industry.
What do you want to do in the future?
–I want to work in a corporation where I can apply my knowledge and experience. That means helping management to navigate their innovation process and the development of their business. Sweden is the best place to start and I'm looking forward to that opportunity.