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Econometrics, Operations Research and Actuarial Studies

Programma

  • 1 jaar

    The programme in Econometrics, Operations Research and Actuarial Studies (EORAS) offers three distinct profiles to choose from. This allows you to benefit from the combination of three profiles within the same programme. Class sizes are relatively small, ensuring interaction between students and lecturers.

    EORAS uses mathematical models to analyse complex problems in economics, finance and related areas. The programme teaches students about the most important mathematical models and provides them with a research-oriented attitude. At the same time students learn to translate model outcomes into relevant results for the field of application.

    The first semester focuses on learning from, and about research, whereas learning about, and to do research are covered in semester 2.

    The programme in Econometrics, Operations Research and Actuarial Studies (EORAS) offers three distinct profiles to choose from. This allows you to benefit from the combination of three profiles within the same programme. Class sizes are relatively small, ensuring interaction between students and lecturers.

    EORAS uses mathematical models to analyse complex problems in economics, finance and related areas. The programme teaches students about the most important mathematical models and provides them with a research-oriented attitude. At the same time students learn to translate model outcomes into relevant results for the field of application.

    The first semester focuses on learning from, and about research, whereas learning about, and to do research are covered in semester 2.

Programma-opties

  • Econometrics (profiel)

    Econometrics aims at quantifying causal relations among economic variables. The resulting econometric models are used for forecasting and to make policy decisions.

    Examples of relevant questions: 'How will future employment ratios develop in Europe'? or 'What is the influence of high petrol prices on the expected number of train passengers?'

    Econometrics has applications in many fields, such as finance, marketing and consumer behaviour, industrial organization and macroeconomics.

  • Operations Research (profiel)

    Operations Research uses mathematical models to solve complex optimization and decision-making problems, for example in logistics and planning.

    Examples of subject areas: freight routes, railway timetables, stock control, supply chain management, production planning, service and school timetables, location systems, queue management, and financial decisions.

  • Actuarial Studies (profiel)

    Actuarial Studies focuses on mathematical models for risk management in the financial sector (insurance companies, pension funds, banks).

    Traditionally, actuarial science was focused on calculating insurance premiums for insurance and pensions. Nowadays the scope of actuarial studies is much broader and includes the implementation of supervisory requirements for financial sector (Basel, Solvency), modeling mortality and longevity risks and modeling extreme events (such as stock market crashes).

  • Double Degree Master China and the World Economy (specialisatie)

    2 year Double Degree programme in Groningen and Fudan University Shanghai

  • Master Internship (specialisatie)

    Opportunity for an internship between February and June. You will be rewarded 15 ECTS on top of your programme. Your thesis will be postponed to the first semester of your next study year.

Opbouw programma

Vak
AS | Asset and Liability Management, OR: Banking, Insurance and Risk Management (5 EC, facultatief)
AS | Dependence & Extremes in Risk Management (5 EC)
AS | Models for Short Term Risk Management (5 EC)
EC | Applied Macroeconometrics, OR: Applied Microeconometrics (5 EC, facultatief)
EC | Econometric Inference (5 EC)
EC | Econometric Theory and Methods (5 EC)
Electives (subject to approval) (10 EC)
Electives MSc EORAS (15 EC)
Master's Thesis EORAS (20 EC)
OR | Analysis of Complex Systems, OR: Supply Chain Optimization (5 EC, facultatief)
OR | Combinatorial Optimization (5 EC)
OR | Stochastic Programming (5 EC)

Check for in-depth info on all courses:

https://www.rug.nl/ocasys/rug/vak/showpos?opleiding=2030

Check for in-depth info on all courses:

https://www.rug.nl/ocasys/rug/vak/showpos?opleiding=2030

Studeren in het buitenland

  • Studeren in het buitenland is facultatief
  • Voor gemiddeld 20 weken
Waarom in Groningen?

The programme has three profiles to choose from and is attractive for research-oriented students. Students learn how mathematical models can be used to extract information from economic data, with the emphasis on practical problems. It is an internationally accredited programme, ensuring a high quality education that meets both the AACSB and EQUIS standards, which only one percent of universities reach worldwide.

The programme has three profiles to choose from and is attractive for research-oriented students. The emphasis is on the application of modeling to practical problems and how to extract useful information from available economic data. Besides, it is an internationally accredited programme, ensuring a high quality education that meets both the AACSB and EQUIS standards, which only one percent of universities reach worldwide.

Studying means working independently and planning your studies yourself. But successful studying depends on many different factors, so it is understandable that you may need to consult an impartial expert to discuss your study progress and personal circumstances that influence your studies. The faculty's study advisors are available to help you. Obviously, everything discussed with the study advisor remains confidential.

Studying means working independently and planning your studies yourself. But successful studying depends on many different factors, so it is understandable that you may need to consult an impartial expert to discuss your study progress and personal circumstances that influence your studies. The faculty's study advisors are available to help you. Obviously, everything discussed with the study advisor remains confidential.

  • Testimonial van Kaifeng Wang

    You can predict so many things, and rule out 'chance'

    The programme is not easy, but I see that as a challenge. In the beginning I had some difficulty with maths, because of the way the terminology was translated, but it's getting better now and my fellow Dutch students are very helpful.

    "I finished my Bachelor's degree in Statistics in Beijing and came to the Netherlands as an exchange student. I decided to continue my studies here because I liked the friendly and relaxed atmosphere. There aren't many Master's degree programmes focusing on statistics, but Econometrics in Groningen comes very close. Many Chinese students choose to study economics, so econometrics is kind of special and I like that. The programme is not easy, but I see that as a challenge. In the beginning I had some difficulty with maths, because of the way the terminology was translated, but it's getting better now and my fellow Dutch students are very helpful. We do a lot of work in groups, and that helps me to adapt quickly and the teachers are very helpful and supportive. You never need to feel ashamed to ask them for help. One of my favourite subjects is Game Theory, because it's very practical. You can predict so many things, and rule out 'chance'. When I graduate I'd like to work for a bank or an insurance company, preferably in Europe."

    Sluiten
    – Kaifeng Wang
  • Testimonial van Lieke Kools

    "The most surprising topics appeared, from thinking up a system for libraries to share their books and save money to how a family in Tanzania can best make use of their land given uncertain weather conditions."

    “What I enjoyed most about the programme is its diversity. As we dove deeper into mathematical theory, the range of applications kept increasing. The most surprising topics appeared, from thinking up a system for libraries to share their books and save money to how a family in Tanzania can best make use of their land given uncertain weather conditions. The knowledge gained on econometric theory and economic policy helped me and four friends to battle it out against students from all over the world at the econometric games, also known as the world championships for econometrics.

    While writing my thesis at the Netherlands Institute of Applied Scientific Research (TNO), I noticed how in our field, rather than looking for practical examples to fit the theory, extensions to theory follow almost naturally from practice. I set out to find the optimal placement for distributed generators of renewable energy. This is a difficult task as the grid should be balanced at all times, but both what consumers demand and what the generators supply is surrounded by uncertainty. I found myself reading up on physics and control theory, and ended up analyzing and trying to adapt an existing optimization algorithm in order to find more accurate solutions in less time.”

    Sluiten
    – Lieke Kools
  • Opleidingsvideo

    – Opleidingsvideo
  • Testimonial van Willemijn Beelen

    Finding solutions is fun!

    I definitely use on the job what I learned in the programme. When a problem in my company requires scenario calculations, we handle it. There's a certain way of analysing things, of recognising important factors that I developed during the programme that I draw on all the time. Finding solutions and seeing them put into place is interesting, even fun!'

    I'm an internal quantitative consultant at TNT Post, and I definitely use on the job what I learned in the programme. If a problem in my company requires statistics, scenario calculations, simulation or optimisation, my department handles it. In my studies I learned the techniques, like optimisation techniques, statistical analyses, and logistical lay-outs. I don't use economic theories every day, but there's a certain way of analysing things, of recognising important factors that I developed during the programme that I draw on all the time. You might think mail is mail, but actually no two projects are the same. Finding solutions and seeing them put into place is interesting, even fun!' 'Econometrics wasn't an easy study programme! But besides studying, I did a lot of different things while I was at the university. I worked as a student assistant, was active in The Knickerbockers, a student football association, and served on a committee and then the board of Vesting, the organisation for Econometrics students that tries to mix theory and practice. I went to Italy for a semester and had an internship at TNT Post, where I now work. Looking back I realise that each path led in its own way to my seeing where I'm strong and where I can improve.

    Sluiten
    – Willemijn Beelen
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