When and why should governments interfere in the workings of advanced economies? To what extent does traditional competition policy still suffice in a world where firms increasingly sell their products online? And should the Ministry of Finance expand public spending if the unemployment rate gets high and the economy stagnates? In this program you will learn to assess different strategies to handle diverse microeconomic and macroeconomic problems.
The objective of the programme is to teach you economic
theories at a high analytical level. An additional goal is to
familiarise you with the application of theory and research methods
to economic practice and policy. Such a combination of rigorous
academic thinking with practical application is essential for any
professional active in the field of economics, either in policy or
research. You will learn about the influence of economic factors on
society and how economic theory can be applied to interpret and
analyse economic problems.
We offer two tracks: " Microeconomics of Markets and Incentives” and “Macroeconomic Theory and Policy ”. Alternatively, you can specialize in Energy Economics, or put an emphasis on Health issues in your programme . It is also possible to design your own study programme. The programme is truly international, being taught entirely in English. The best international textbooks are used In the various courses, students study papers published in prominent academic journals in order to keep up with the latest developments. Courses are taught by specialists with an international reputation in their field of research and/or a key role in public debates .
“Studying Economics in Groningen has changed my view on society. I would recommend everybody to study this master programme”
When I finished my bachelor I was doubting which master I should choose, Finance or Economics. I started with the Master Finance, but half way this master programme I decided to study Economics as well. A lot of issues in the news and politics are driven by economics and I wanted to know more about it.
During the Master Economics I learned to understand economic models and to recognize the forces that sometimes seem counterintuitive, but make perfect sense once we account for the incentives that may drive behaviour of the economic agents involved. One interesting example is that prices can increase as a reaction to more transparency in the market. This is a possible outcome because transparency does not only facilitate the choice of consumers but also facilitates collusion. Transparency makes it easier to notice when another producer deviates from the collusion price. This makes it less profitable to deviate and enhances collusion.
In Groningen, the Master Economics may be more technical than at other universities, but I would regard this as a strong aspect. It provides you with the right tools to understand and analyse economic behaviour. At the moment. I work for the government as an economist and most things I learned during my masters is very helpful and valuable in my current job. But studying Economics in Groningen also has changed my view on the society. I would recommend everybody to study this master programme.
"I developed an econometric model to determine potential destinations and passenger movements for Groningen Airport Eelde."
After my bachelor I was clearly convinced to further develop my skills I acquired during the bachelor economics. Mathematics and econometrics are both subjects I find challenging. This in combination with psychological aspects and also philosophy determined my choice to study the master economics.
In addition to more in-depth knowledge of economic subjects,
which were taught in the bachelor, new subjects, among which game
theory, are also introduced. Personally writing my master thesis
was definitely the highlight during my “academic
career”. The master economics provides you enormous freedom
regarding your subject. As an economic student the regional economy
of Groningen is an interesting topic to study. Furthermore, my
interests in aviation economics made Groningen Airport Eelde the
best place to write my thesis about. Good consultation with the
airport and the university resulted in a very interesting and
challenging thesis. I developed an econometric model to determine
potential destinations and passenger movements for Groningen
Airport Eelde. During my thesis I learned a lot more about
econometrics. Besides, I learned how to translate such a model to
people who have less knowledge in this subject. “How do you
explain such a model such that anyone is able to understand the
results?” Thus, the course did not only develop my academic
skills, but also my presentation skills for business purposes. I
found that the airport still has opportunities to expand services.
Indirectly this might result in extra economic activity.
During my thesis I obtained valuable feedback, which I still use nowadays. I am more aware of how to present written documents to others. Furthermore, data-analysis is of great importance in the ICT sector in which I work now. All by all, I recommend this master program as it not only develops your academic skills, but also your skills you will certainly use after your master.
Economics and Economics Analysis challenges you at both a mathematical and an econometric level
The main reason for me to choose the MSc Economics was that it contains courses that challenge you at both a mathematical and an econometric level, and you are still able to choose finance courses as well. I also applied for the DDM Economics and Economic Analysis with Universidad de Chile. This was my last chance to study abroad, which was the only thing I regretted not having done during my Bachelor. The double degree was an experience I wouldn't have wanted to miss. I advise it to anyone.
In Chili, all of our teachers were experts in their fields and obtained their PHD at some of the most renowned universities in the world. The courses went into more depth and focused on case studies and research about Latin America. The fact that you get two supervisors for your thesis is also very nice. I had a lot of very good pointers from my supervisor from Chili, a professor and also prominent business man who helped me to improve my thesis a lot. Even though the courses are quite intensive, there is also plenty of time to do other things like exploring the country, meeting new people, and even joining a sports team like I did.