MA in Business

The master programme in Business (official programme name: International Business Administration) provides students with a unique opportunity to combine general business knowledge with in depth expertise in the field of specialization (Intrapreneurship & Entrepreneurship, Management in Digital Era, Data Management, Financial Value for Public and Private Companies, Strategic Marketing). We strongly believe that a solid understanding of all business functions enables the graduates to take up managerial and specialist positions with better preparation The graduates are not only experts in their field of specialization but are also able to discuss strategic business issues within all the departments of a company.


It is possible to study the business administration master programme as follows:

In EBS Tallinn

Session based studies – three full days at school once in three weeks

In EBS Helsinki

Session based studies – three full days at school once in three weeks

Study mobility is strongly encouraged. EBS has more than 60 partner universities and in most of them exchange semester is supported by the Erasmus+ programme.


Our teaching philosophy values interactive classes, practical assignments and involving real life company cases in the study process. While there are a few traditional lectures in some courses, most of the student learning occurs through teamwork, discussions and hands on activities. Group dynamics and peer to peer interaction are vital component of the learning experience of our students and the aim of our faculty is to facilitate these.


Estonian Business School has fully implemented the learning management system Canvas which has been titled the best educational LMS by the PC Magazine in 2017. Canvas is a one stop modern and user-friendly hub to all course related content giving the students superior experience of blended learning.


Most of the faculty teaching in the program are internationally renowned specialists in their fields, having both academic and practical business experience. We have a roughly equal proportion of full-time faculty members, practitioner-lecturers from companies and professors from a wide range of international universities. 

In 2019/2020 study year the below specializations are offered: 

  • Strategic Marketing
  • Corporate Finance and Value Reporting
  • Big Data & Data Management
  • Intrapreneurship & Entrepreneurship
  • Management in Digital Society
  • Public Management

Learning outcomes of the programme

1. General business competencies with in depth knowledge in the selected field of specialization
2. Ability to integrate and critically apply a broad range of management theories in complex international environment
3. Awareness of the societal background, opportunities and limitations, as well as awareness of the influence of one’s actions to the society
4. High ethical standards and professional integrity
5. Knowledge of business research methods and experience in applying them in different contexts
6. Superb critical thinking and decision making skills to be an effective leader in a constantly changing environment
7. Competence to communicate convincingly in different media, for different audiences and in various situations
8. Proactive attitude to lifelong learning

Student profile

This programme is designed as a part of the 3+2 study system, complementing a 3-year bachelor degree in business, management, economics or similar field with a 2 year master programme. Previous work experience or non-academic studies can be taken into account for candidates who have a different bachelor degree. In addition it is sometimes possible to take some preparatory courses. For details, please contact the admissions specialist.


We look for strong candidates who want to continue studies straight after obtaining the bachelor degree as well as students who have been working after their studies. Most of our students have some work experience that makes class discussions more relevant to specific practical scenarios. 


Although it is a full time program the studies are organized so that it is possible to continue (part time) work during the studies. 



Important dates
1st of

Beginning of the fall semester 2020/2021. 

1st of

The application round for non-EU candidates for study year 2020/2021 will be opened in January 2020. Exact dates of the application round will be announced in September 2019. 

1st of

The application round for EU candidates and candidates from Turkey, Russia, Ukraine, Belarus, USA, Canada, Japan for study year 2020/2021 will be opened in January 2020. Exact dates of the application round will be announced in September 2019.   

Fees and Financing Options in Tallinn

For EU citizens

The semester tuition fee for study year 2018/2019 for Estonian and other EU citizens is the following:

  • Paying in one part the semester fee is 2600 €.
  • Paying in two parts the semester fee is 2600 EUR + 35 EUR
  • When the student is a part-time student or would like to transfer some courses from another university and therefore does not need to take the whole programme then the semester fee is being calculated on credit point basis. The fee for one credit point is 95 € .
  • If you are a resident or a holder of a long-term residence permit in the Republic of Estonia you can pay in several instalments by using Study Investment.

Study Investment

For non-EU citizens

The tuition fee for non-EU citizens is the following:

  • Tuition fee for first study year (2 semesters) is 5200 €.
  • Tuition fee can be paid only in one instalment.

Special conditions:

  • International module
    The travel and accommodation costs of international module are not included in the MA programme tuition fee.
  • ACCA and CFA certificates
    To be rewarded an ACCA or CFA certificate you need to take the certificate exams.

Fees and financing options in Helsinki

Tution fees

The semester tuition fee for study year 2018/2019 in Helsinki is the following:

  • Paying in one part the semester fee is 3500 €.
  • The semester fee for 4th semester is 2300 €.


  • When the student is a part-time student or would like to transfer some courses from another university and therefore does not need to take the whole programme then the semester fee is being calculated on credit point basis. The fee for one credit point is 130 €.


All the candidates, who have received the positive admission decision, hence acceptance letter from EBS, can apply for a scholarship. In order to apply, you need to write an official application letter to the Scholarship Committee. The mission of the Scholarship Committee is to review and award scholarships.

The Scholarship Committee makes the decision based on the applicants’ previous experience. Suitable candidates have an entrepreneurial mindset, excellent grades and experiences outside the classroom.


In the application letter the candidate should mention: 

  • Why do they want to study at EBS and which program did they apply for?
  • How are they planning to use the knowledge they gain here and which goals have they set for themselves?
  • What kind of value will they bring to the classroom and to the studies here?

In EBS, the scholarship gives a discount on the tuition fee. Scholarships are awarded once a year in August. Please send your application via e-mail by the 10th of July. 


*Finnish students are eligible for various types of financial assistance from Kela during education.

Programme Outline

SEMESTER subject ECTS Responsible lecturer
YEAR 1    
  Global Economics and Politics 6 Meelis Kitsing
  Managerial Economics 6 Urmas Kaarlep
  International Business Law 6 Liina Naaber-Kivisoo
  Human Resource Management 6 Piret Masso
  Strategic Management 6 Mike Wahl
  Managerial Decision Making and Finance 6 John Paul Broussard
  IT for Business and Management 6 Andrew Adjah Sai
  Strategic Marketing Management 6 Benas Adomavičius
  Research Design 3 Nicole Rosenkranz
  Academic Writing 3 Jaan Rand
  Qualitative and Quantitative Data Analysis Methods 6  
YEAR 2    
SEMESTER 3      
Courses according to selected concentration module
Optional courses
Elective courses
Seminar of Master's Thesis
SEMESTER 4      
  Courses according to selected concentration module 15  
  Master´s Thesis 15  
  *EBS reserves the right to make changes in the course selection    



  • Previous Bachelor's Degree in Business Administration of Economics or equivalent is required.
  • For specialization in Finance a Bachelor's degree in Business Administration with a Major in Finance is required.
  • If you have Bachelor degree in other field than Business Administration or Economics you need to fulfil the prerequisite subjects of the program:
    • Microeconomics, Macroeconomics, Corporate Finance, Economic Analysis, Financial Accounting, Investment management for financial specialization. Another option is previous Bachelor's Degree in Business Administration with major in Finance.
    • For marketing specialization, you need Microeconomics, Macroeconomics and Financial Accounting subjects.
  • For entering the programme applicants have to submit results of an internationally recognized test of English on a required level of B2 as follows:

Results of an internationally recognized test

  • TOEFL iBT score 87 (EBS code 6744)
    Test results have to be sent directly to EBS by the test centre. It is also possible to order the test results to be sent to EBS online. Please note that TOEFL iBT test score is valid for 2 years.
  • IELTS Academic  (International English Language Testing Service) 5.5 with 5.5 above in each band).  Please note that IELTS test result is valid for 2 years.
  • Cambridge test - FCE (or CAECPE)
    Candidates presenting Cambridge English tests should indicate their ID number (a 3 letter and 6 number combination) and secret number (4 digits) in their application form. These numbers are included in the confirmation of entry for the Cambridge exam. If you do not know these details, please contact the exam centre.
  • BEC Vantage

The internationally recognized test of English may be replaced by: 

  • Completion of previous educational level in a country where English language is spoken as mother-tongue. EBS waves requirement only for following countries: USA, UK, Ireland, Australia, Canada, New Zealand.
  • Completion of previous level of education taught fully in English in EU/EEA member states. Please note that the transcript of record must include that studies were conducted fully in English.
  • Other countries have to present internationally recognized language test even, if the student studied previously in English language.

Admission process

  • Apply through  Dream Apply Student Admission Platform.
    *Non-EU citizens need to pay the application fee (€ 120) once they have received the invoice through Dream Apply system. Application documents will be processed only after application fee is received.
  • Send your educational documents to EBS to the following address: Admissions and Studies Office, Lauteri street 3, room 115, 10114, Tallinn, ESTONIA
    To whom: Liina Reimann, Admission Specialist
  • Admission interview via Skype

Contact us


  • Acceptance
    Once the student has sent all necessary documents for applying, has obtained the required level of English of and has successfully passed the entrance process (incl. interview) the Admission Committee will decide upon the student's admission.
    *If you are a non-EU citizen, apply for temporary residence permit for studies in Estonia. 
  • Tuition fee payment
    After being accepted the student will be issued the tuition fee invoice for one academic year.
  • Signing of the study contract
    When the student has arrived to Estonia and to EBS, then the study contract is signed between the student and university.