Lund university

School of Economics and Management

EAGDA, Master's Programme in Data Analytics and Business

Economics, 60 credits
Magisterprogram i Data Analytics and Business Economics, 60
högskolepoäng

Second cycle degree programme requiring previous university study / Program

med akademiska förkunskapskrav och med slutlig examen på avancerad nivå

Decision
The programme syllabus is established by The Faculty Board of the School of
Economics and Management 17-06-2020 and most recently amended by Vice Dean
of Education at the School of Economics and Management 15-11-2023 (U 2023/912).
The amended syllabus is valid from 15-11-2023, autumn semester 2024.

Programme description
The programme aims to train students in understanding the role of data analytics in
the digital economy in general, and in particular how organisations can utilize the
increasing availability of “big data” to their advantage by making better-informed
decisions. Students will learn programming and data management, how to use
statistical machine learning tools in order to explore and deduct patterns from data,
and how to incorporate the results obtained into strategic decision making.
Furthermore, the aim is for students to develop their communicative and collaborative
skills. In particular, students should not only be able to work the number and draw
conclusions but should also be able to clearly communicate their results to data
technicians and business managers alike. For this to be possible, students must
understand the business-economic context in which they will be working and have
the means to communicate the information contained in results derived from
advanced statistical techniques in an easy-to-understand fashion. The students must
also be aware of the relevant data legislation and ethical considerations, and why it is
important to ensure regulatory compliance when working with sensitive data.

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The aim of the programme is achieved through a careful mix of lectures, seminars,
hands-on case assignments, computer labs and self-studies. While the bulk of the
instructors are selected expert researchers from across the departments of the School,
parts of the teaching is carried out in collaboration with partner companies and
institutions that are working with data analytics.

Career opportunities
An increasing number of companies are searching for analytically talented individuals
with statistical and programming skills that also understand the business-economic
context in which they will be working, as well as the relevant legal and ethical
boundaries of that work. Our employer partners tell us that this combination of skills
is particularly sought after and that is something many other analysts fall well short
of. The aim of the present programme is to fill this gap in the labour market.

Connections to further studies

The students of this programme may come from different disciplines; however, they
are all technically oriented. After graduating, they have a solid background in
statistical machine learning and empirical data work. These are treats that are highly
valued in PhD education in, for example, economics, business and statistics.
Programme graduates are therefore well equipped to pursue such further education.

Goals
In accordance with the Higher Education Ordinance, a Master of Science (60 credits) is
awarded to students who at the completion of the programme accomplish the
following:

Mission driven learning outcomes

Graduates of the programme will be trained as reflective practitioners in taking an
active part in developing a sustainable society building on innovative thinking.

Knowledge and understanding

For a Degree of Master (60 credits) the student must:
• demonstrate knowledge and understanding in data analytics and business
economics, including both an overview of the field and specialised knowledge in
certain areas of the field as well as insight into current research and development
work
• demonstrate specialised methodological knowledge in data analytics and
business economics

Competence and skills

For a Degree of Master (60 credits) the student must:
• demonstrate the ability to integrate knowledge and analyse, assess and deal with
complex phenomena, issues and situations even with limited information

(EAGDA) Master's Programme in Data Analytics and Business Economics, 60 credits / Magisterprogram i
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• demonstrate the ability to identify and formulate issues autonomously as well as

to plan and, using appropriate methods, undertake advanced tasks within
predetermined time frames
• demonstrate the ability in speech and writing to report clearly and discuss his or
her conclusions and the knowledge and arguments on which they are based in
dialogue with different audiences
• demonstrate the skills required for participation in research and development
work or employment in some other qualified capacity
• demonstrate the ability to manage and work in multicultural teams

Judgement and approach

For a Degree of Master (60 credits) the student must:
• demonstrate the ability to make assessments in the main field of study, informed
by relevant disciplinary, social and ethical issues and also to demonstrate
awareness of ethical aspects of research and development work
• demonstrate insight into the possibilities and limitations of research, its role in
building an innovative and sustainable society and the responsibility of the
individual for how it is used
• demonstrate the ability to identify the personal need for further knowledge and
take responsibility for his or her on-going learning

Independent project (degree project)

For a Master of Science (60 credits) students must have completed an independent
project (degree project) worth at least 15 credits in Data Analytics and Business
Economics within the framework of the course requirements.

Course information
This one-year Master’s degree comprises of 60 credits. The year is divided into two 30
credits semesters.

Semester 1 comprises the following courses:

• Introduction to Programming (3.5 cr)
• Data Visualisation (4 cr)
• Machine Learning from a Regression Perspective (7.5 cr)
• Legal Aspects of Data Analytics (4 cr)
• Working with Databases, (3.5 cr)
• Advanced Machine Learning (7.5 cr)

Semester 2 comprises the following courses:

• Elective (7.5 cr)
• Elective (7.5 cr)
• Master Essay I (degree project) (15 cr)

Mandatory courses
Introduction to Programming (3.5 cr)

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The following topics will be covered in the course:

• basic programming concepts, control flow, data structures, conditional
statements, loops, functions, scope, and classes, as well as basic syntax for these
concepts
• using built-in functions
• creating own functions
• using basic data types, such as lists, vectors and matrices
• using an integrated development environment
• basic debugging procedures
• loading and using basic packages

Data Visualisation (4 cr)

The course provides an introduction to theoretical and practical aspects of data
visualisation. The following topics are covered in the course:
• introduction and background
• introduction to R and ggplot2
• visualisation of data with few observations
• choice of colour, symbols, scales, and perspective (2D, 3D)
• summation and abstraction (many observations)
• interactive visualisations
• maps and spatial data
• visualisation of statistical models

Machine Learning from a Regression Perspective (7.5 cr)

Machine learning refers to statistical model predictions that that improve through
experience; as new data arrive, the model learns and adapts. The price that the
supermarket can charge for advertisements depends critically on its ability to learn
from the data which customers that are likely prospects for a particular supplier’s
product. Similarly, the price that Google can charge for space for sponsored links is
directly tied to their ability to correctly identify people likely to follow the link. That is
where machine learning comes in. This course teaches the basics of machine learning
and it does so by focusing on those methods that build in one way or another on
standard regression analysis. Some of the topics covered are classification based on
logistic regression, model selection using information criteria and cross-validation,
shrinkage methods such as lasso, ridge regression and elastic nets, dimension
reduction methods such as principal components regression and partial least squares,
and neural networks. Theoretical studies are interwoven with empirical applications to
problems in business and economics.

Advanced Machine Learning (7.5 cr)

This course covers advanced machine learning methods that are relevant for
applications in business and economics, and is intended as a continuation of Machine
Learning from a Regression Perspective. Some of the topics covered include
bootstrapping, ensemble methods such as boosting and random forests, unsupervised
machine learning methods such as principal components analysis and clustering
algorithms as well as applications of machine learning methods to problems that are
relevant for business and economics, such as causal inference and text analysis.
Theoretical studies are interwoven with empirical applications to problems in business

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and economics.

Working with Databases (3.5 cr)

This course covers data, data management and databases from a practical
perspective. The student will gain a basic understanding of what databases are and
what they are used for, as well as a vocabulary to use when communicating with
database administrators and IT technicians. The course also treats how to extract data
from a database using techniques such as SQL (Structured Query Language) and how
to analyse such data. Data are important in today's industry and society, and this
course aims to make the student ready and able to use them to his or her advantage.

Legal Aspects of Data Analytics (4 cr)

The course introduces legal thinking, and it provides an overview as well as a practical
application of legal concepts and methods used to analyse the relevant legal rules and
principles related to data analytics. The content of the course is focused on
understanding the relevance of key legal rules and principles, related to data analytics,
for informed decision-making. The main legal areas covered by the course are
European law on intellectual property, data protection, competition law, and the law
of contract, as applied to data analytics. An essential part of the course is exercises of
an applied nature where legal rules and principles are applied from a strategic and
informed decision-making perspective.

Master essay I (15 cr)

The course consists of writing an essay that is publicly defended at a seminar with a
discussant and to discuss another essay at a seminar. The essay shall be written
individually or by two students writing together. In the process of writing, the student
is advised by one or more tutors. The course starts with some gatherings for general
information on writing essays and seeking information through the library.

Elective courses in Business Administration, Economics, Statistics and

Informatics
The selection of elective courses may vary between semesters depending on
availability. Current offerings are available on the programme's website at lusem.lu.se.

Additional information in appendix EAGDA Programme structure.

Degree
Degree titles
Degree of Master of Science (60 credits)
Major: Data Analytics and Business Economics
Filosofie magisterexamen
Huvudområde: Dataanalys och ekonomi
Degree requirements

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The degree requirements for a Degree of Master of Science, major in Data Analytics
and Business Economics consists of 60 credits at advanced level. The following must
be included in the degree: the courses that comprises the current programme
structure (see appendix) which includes the course DABN01 Master essay I, 15 cr.

Requirements and Selection method

Requirements
The programme is developed for students who have recently finished an
undergraduate degree (BA/BSc) of at least three years, 180 credits, in a subject matter
including quantitative methods.
More specifically, it is required that the students have:
• an undergraduate degree including one of the following:
- at least 30 credits in statistics and mathematics with at least one course in
statistics that includes regression analysis and one course in mathematics;
- at least 60 credits in economics, informatics or business administration with at
least one course in econometrics or regression analysis and one course in
statistics or mathematics;
- at least 60 credits in statistics with at least one course in regression analysis,

• documented language proficiency knowledge equivalent to English B/English 6 at

Swedish upper secondary school.

For applicants not having a course named regression analysis or econometrics, it is

important to include a course syllabus (or something similar) in the application, to
demonstrate the fulfilment of this specific requirement.
It is recommended that students have at least 10 credits in economics and 10 credits
in business administration.

Selection method
Selection is based on academic merits from university studies. In the assessment,
special weight will be given to grades on courses that prepare students for the
curriculum of this study programme.

Other information
Programme management
The programme director, who is appointed by the Board of LUSEM, is responsible for
the quality development and quality assurance of the programme. The Board of the
School also assigns each programme to a host department at LUSEM. The host
department is responsible for providing professional services to the students and
faculty of the programme.
Each programme also organizes a programme council, in which student
representatives and faculty representatives of the programme, together with the
programme director, coordinator and other professional services meet regularly.

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All programmes at LUSEM are evaluated yearly and the outcome of a programme
evaluation summary is presented to the Board of the School as part of LUSEM’s
Quality Development and Assurance system.

Grading scale
At the School of Economics and Management grades are awarded in accordance with
a criterion-based grading scale A-U(F):

A (Excellent) 85-100 points/percent. A distinguished result that is excellent with

regard to theoretical depth, practical relevance, analytical ability and independent
thought.
B (Very good) 75-84 points/percent. A very good result with regard to theoretical
depth, practical relevance, analytical ability and independent thought.
C (Good) 65-74 points/percent. The result is of a good standard with regard to
theoretical depth, practical relevance, analytical ability and independent thought and
lives up to expectations.
D (Satisfactory) 55-64 points/percent. The result is of a satisfactory standard with
regard to theoretical depth, practical relevance, analytical ability and independent
thought.
E (Sufficient) 50-54 points/percent. The result satisfies the minimum requirements
with regard to theoretical depth, practical relevance, analytical ability and
independent thought, but not more.
U/F (Fail) 0-49 points/percent. The result does not meet the minimum requirements
with regard to theoretical depth, practical relevance, analytical ability and
independent thought.
To pass the course, the students must have been awarded the grade of E or higher.
It is up to the teaching professor to decide whether the credits of a course should be
converted into a total of 100 points for each course, or if the scale above should be
used as percentage points of any chosen scale instead.

Academic integrity
The University views plagiarism very seriously, and will take disciplinary actions against
students for any kind of attempted malpractice in examinations and assessments. The
penalty that may be imposed for this, and other unfair practice in examinations or
assessments, includes suspension from the University.

(EAGDA) Master's Programme in Data Analytics and Business Economics, 60 credits / Magisterprogram i
Data Analytics and Business Economics, 60 högskolepoäng
Programme structure for Master’s Programme in Data Analytics and
Business Economics

The programme of 60 ECTS-credits has the following structure:

Semester 1, autumn (30 cr) Semester 2, spring (30 cr)

Period 1 Period 2 Period 3 Period 4

Sep-Oct Nov-Dec Jan-Mar Apr-Jun

Introduction to Advanced machine Elective

Programming learning (7.5 cr)
(3.5 cr) (7.5 cr)

Data visualisation Working with databases Elective Master essay I (degree

(4 cr) (3.5 cr) (7.5 cr) project)
(15 cr)

Machine learning from Legal aspects of data

a regression analytics
perspective (4 cr)
(7.5 cr)

The School’s programme portfolio is continuously developed and sometimes changes to courses may
occur after you have accepted your study seat. These changes are usually a result of student feedback,
or research development. Changes can take the form of altered course content, teaching formats or
assessment styles. Any such changes are intended to enhance the student learning experience. If the
programme includes elective courses, students will in most cases be placed in the elective(s) of their
choice, but there are no guaranteed places.

1 credit (cr) = 1 ECTS credit