As the most populous city in Northern Finland, Oulu has over 100,000 inhabitants. The city is home to the Oulu University of Applied Sciences, the University of Oulu, and a vocational college.

There is evidence of economic writing that dates all the way back to the Mesopotamian era. The development of modern economics is largely due to two groups which were known as the physiocrats and the mercantilists. These groups help develop capitalism in Europe in the 16th century.

The formal higher education system of Finland is the 7-3-2-2 pattern. The university takes two years in vocational or technical education and finally two-year pre-tertiary education. Finland also has several public as well as private universities that have enabled accessibility of higher education to students.

A masters is earned after students complete an undergraduate degree program. To obtain a masters, you usually need to complete 12 to 18 college courses that often involve completing comprehensive tests and/or a thesis.