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Education Master's and PhD degree programmes Economics
Header image Economics

Economics

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 programme, 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 specializations: " 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. In each specialization, it remains possible to design your own study programme.

Facts & Figures
Degree
MSc in Economics
Course type
Master
Duration
12 months (60 ECTS)
Croho code
66401
Language of instruction
English
Start
February, September
Faculty
Economics and Business
Why study this programme in Groningen?
  • 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.
  • 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.
  • The programme has been internationally accredited by the AACSB and EQUIS, ensuring a high-quality education, which only 1% of universities reach worldwide.
Programme

Your master starts with the core courses of the programme: Empirical Methods, Macroeconomics, and Games and Industrial Organization. After that, you take electives. You finish the programme by writing your MSc thesis.

We offer two specializations: Microeconomics of Markets and Incentives or Macroeconomic Theory and Policy. The first theme provides you with a thorough understanding of the incentives that shape the economic decision-making of individuals, households and firms. The second theme deepens your knowledge concerning the structure of and changes in the aggregate economy. Alternatively, you can design your own study programme.

CoursesCourse Catalog >
Electives (Economics, Econometrics, Finance) (10 EC, optional)
Empirical Methods of Economics (5 EC)
Games and Industrial Organization (5 EC)
Macro | Applied Macroeconometrics (5 EC, optional)
Macro | Economic Growth in History (5 EC, optional)
Macro | Monetary Policy and Financial Regulation (5 EC, optional)
Macro | Money, Finance and the Economy (5 EC, optional)
Macroeconomics for MSc Economics (5 EC)
Master's thesis Economics (20 EC)
Micro & Macro | Public Economics and Social Policy (5 EC, optional)
Micro | Competition Policy - Theory and Practice (5 EC, optional)
Micro | Economics of Regulating Markets (5 EC, optional)
Micro | Microeconomics of Household Behaviour (5 EC, optional)

Curriculum

Students in the Micro specialization choose 3 out of 4 Micro optional courses, plus 10 EC electives from a broad list of possibilities. Students in the Macro specialization choose 3 out of 4 Macro optional courses, plus 10 EC electives from a broad list of possibilities.

Programme options
Double Degree Master Chinese Economy and Finance (Shanghai) (specialization)

Are you interested in an international career in or involving China?

Study in Shanghai after your FEB Master's programme in Groningen and gain first-hand knowledge and experience of China and the economy, finance and culture.

More information about this option

Finance and Development (specialization)

Focus your MSc on Finance and Development and open up extra career opportunities.

More information about this option

Double Degree Master Economic Analysis (Santiago) (specialization)

How do you deal with problems and challenges of emerging economies from an applied perspective?

In this double degree with Universidad de Chile in Santiago, you will gain comprehensive knowledge of the economies, economic policies, strategies, theories and practices of Europe and Latin America. This programme is for students who want to broaden their view on important economic topics by bringing in a comparative perspective.You will obtain two degrees: MSc in Economics (Groningen) and a Master in Economic Analysis (Santiago de Chile). The programme will provide you with a broader view of economic theory and practice. In addition, you will get the opportunity to experience student life in two different cultures with sufficient time spent in each environment to thoroughly understand both cultures. Universidad de Chile is one of the best universities in the Latin American region.The programme trains you to analyse policies and economic decisions, both in public and private areas. Lecturers are experts holding PhD degrees from the best universities in the world (Harvard, MIT, Berkeley, Oxford, Yale and Cambridge). Several have professional experience in international organisations such as the World Bank, the Inter-American Development Bank and the United Nations.

More information about this option

Energy Focus Area (specialization)

Focus your MSc on Energy and open up extra career opportunities. There are two steps to the Energy Focus Area-

1) complete two of four chosen electives 2) write and round off an MSc thesis on an energy topic

More information about this option

Macroeconomic Theory and Policy (specialization)

(MTP) This specialisation aims to provide you with a thorough understanding of the structure of and changes in the aggregate economy.

The programme is firmly founded on three pillars, namely theory, empirics, and policy. Both real and monetary perspectives are treated in detail. Among other things you will learn why economies grow over time, how the life-cycle choices made by individuals affect the aggregate economy, how governments can use public policy instruments to affect the economic performance and social welfare; and how monetary policy and regulation can ensure the smooth working of financial markets. Upon completion of this profile, you will be in the possession of the tools needed to independently carry out theoretical and empirical analyses of an aggregate nature.

Microeconomics: Markets and Incentives (specialization)

(MMI) In this specialisation, students will gain a thorough understanding of the incentives that shape the economic decision-making of individuals, households and firms.

You will learn how the strategic interaction between firms shapes market outcomes and affects profits and consumer welfare; how households trade off consumption and saving in planning their life-cycle consumption pattern; how governments can use taxes and subsidies to influence behaviour; and how competition policy and regulation can ensure the efficient working of markets. Upon completion of this profile, you will master the theoretical and empirical tools needed to recognize the incentives of individual firms and households in novel economic situations and be able to describe how these incentives translate into market outcomes and welfare. You will have the knowledge and ability to independently carry out theoretical and empirical microeconomic analyses.

Master Internship (specialization)

Opportunity to gain work experience by doing an internship in the second semester of your study.

You will be rewarded 15 ECTS on top of your programme. Your thesis will be postponed to the third semester.

More information about this option

Study abroad

  • Study abroad is optional
Entry requirements

Transfer options

Transferring from...

Study programmeOrganizationTransition
Econometrics and Operations ResearchUniversity of GroningenNo additional requirements
Economics and Business EconomicsUniversity of GroningenNo additional requirements

Admission requirements

Specific requirementsMore information
previous education

To be eligible for admission to this Master, you need to hold an academic Bachelor's or Master's degree from a research university in one of the following - or closely related - fields: Economics and Business Economics, Econometrics and Operations Research.

To assess whether your educational/academic background meets the specific programme requirements, we will consider the level and curriculum of your previous studies. For more information, please visit: https://www.rug.nl/feb/apply-msc.

other admission requirements

Not meeting the pre-education requirements for direct entry? Please read more about our pre-Master programmes .

Registration procedure

Students with a Dutch diploma can apply directly to Studielink. More information on the steps to apply .

Application deadlines

Type of studentDeadlineStart course
Dutch students15 October 202201 February 2023
01 May 202301 September 2023
15 October 202301 February 2024
EU/EEA students15 October 202201 February 2023
01 May 202301 September 2023
15 October 202301 February 2024
non-EU/EEA students15 October 202201 February 2023
01 May 202301 September 2023
15 October 202301 February 2024

Admission requirements

Specific requirementsMore information
certified competences

A GMAT/GRE test is required from all candidates who obtained their bachelor's degree from a university in a non-EU/EEA country. For specific scores and exemptions, please see https://www.rug.nl/feb/gmat-gre.

  • Both GMAT and GRE are now being offered by mba.com and ETS as an online option to take from home worldwide. Please check their websites for more information.
language test

IELTS Academic overall score 6.5 (Speaking 6, Writing 6.5); TOEFL internet-based overall score 90 (Speaking 20, Writing 24); Cambridge B2 First, C1 Advanced or C2 Proficiency (overall score 176, Speaking 169, Writing 176).

  • ETS is offering the TOEFL tests as an online option to take from home worldwide. Please check their website for more information.
previous education

To be eligible for admission to this Master, you need to hold an academic Bachelor's or Master's degree from a research university in one of the following - or closely related - fields: Economics and Business Economics, Econometrics and Operations Research.

To assess whether your educational/academic background meets the specific programme requirements, we will consider the level and curriculum of your previous studies. For more information, please visit: https://www.rug.nl/feb/apply-msc. If you have any questions concerning admission to this programme, please contact our Admissions Office: https://www.rug.nl/admissions.

other admission requirements

Not meeting the pre-education requirements for direct entry? Please read more about our pre-Master programmes .

Registration procedure

Students have to apply via Studielink and the Online Application System (OAS) of the University of Groningen. After you apply for the programme of your choice, the Admissions Office will evaluate your educational background and assess your eligibility. Your application will be assessed on an individual basis. More information on how to apply.

Application deadlines

Type of studentDeadlineStart course
Dutch students15 October 202201 February 2023
01 May 202301 September 2023
15 October 202301 February 2024
EU/EEA students15 October 202201 February 2023
01 May 202301 September 2023
15 October 202301 February 2024
non-EU/EEA students15 October 202201 February 2023
01 May 202301 September 2023
15 October 202301 February 2024
Tuition fees
NationalityYearFeeProgramme form
EU/EEA2022-2023€ 2209full-time
non-EU/EEA2022-2023€ 16201full-time

Practical information for:

After your studies

Job prospects

As a graduate, you are able to apply advanced economic theory to analyse economic issues related to society at large. The programme trains you for positions in which you contribute as an economist to decision-making in (inter)national government bodies, public organisations and private corporations such as financial institutions, multinationals and consultancy firms. You can work as a researcher in business or governmental agencies. You can also use your expertise for journalistic goals.

As a graduate, your degree will be highly valued in the labour market. The Faculty of Economics and Business is internationally accredited and belongs to the 1% of business schools around the world accredited by both EQUIS and AACSB.

FEB Career Services
When you become a student at the faculty, we want to support you in developing your career and strengthen your employability skills. You can count on a dedicated on-campus Career Services team offering you a wide range of courses, workshops, events and career-related support during your studies. Everything you need to enter the labour market.

Job examples

  • Scientific or policy-oriented researcher (DNB, CPB, OECD, IMF)
  • Applied researcher (NEI, TNO and research bureaus)
  • Financial analyst (bank, insurance company)
  • Policy-maker: mainly in large organisations
  • Manager: especially in businesses
  • Lecturer
  • Journalist
Research

Linking education to research and career preparation

Our education is strongly rooted in business practice and society. Also right from the start of your degree programme attention is paid to academic research and professional development. Since an analytical and critical mind and problem-solving capabilities are important qualities in any career our students aspire to.

The lecturers in the MSc Economics have excellent records. Prof. Heijdra is the author of the textbook “Foundations of modern macroeconomics” and prof. Elhorst (not pictured) of “Spatial Econometrics: From cross-sectional data to spatial panels”.

Prof. Berk is the Director of the Department of Economics and Research of the Dutch Central Bank and prof. Mulder is affiliated with the Dutch Authority Consumer and Market as a specialist in the regulation of energy markets. He is currently chairman of the Benelux Association for Energy Economics.

Prof. Schoonbeek's specialization is game theory; he published in the European Economic Review and Public Choice.

Prof. Soetevent is an expert in behavioural economics and has published in e.g. the American Economic Review.

Prof. De Jong is a lecturer in Economic History and has recently been awarded a prestigious € 1.5 million VICI grant to be spent on research into the quality of life indicators and economic growth in the first half of the twentieth century.

Dr. Heijnen specializes in environmental economics and industrial organisation and has many publications in those areas.

Dr. Angelini is a lecturer in Econometric Methods and was elected lecturer of the year 2013 by the students of the Faculty of Economics and Business.

Prof. Alessie published in many prestigious journals and is a specialist in consumer and saving behaviour. Both are also specialists in Stata.

Dr. Kuper is a specialist in macro-econometric modelling and Eviews and is well-known as a predictor of the final medal classification of each Olympics.
Research institute related to the MSc programme: Economics, Econometrics & Finance.

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Contact

The university offers a lot of support

My Master´s programme itself and the good reputation of the University of Groningen made me decide to study Economics here. At times some econometrics can be quite challenging in this programme. The only thing you can do is to invest a lot of time until you understand it. However, the university offers a lot of support. For example, the FEB Career Services can always help you plan your next step. I would like to work for the government and influence policy decisions in the future. I think a lot can be done better and this helps me to work harder for my goals, knowing I may have a real impact later. (Bastiaan Bonnema, Dutch | MSc Economics)

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Related Master's programmes

Did you know you can study econometrics, operations research and actuarial studies in Groningen? Find out more about our MSc Econometrics, Operations Research and Actuarial Studies.

Read more

Study associations

EBF

The Economics and Business Faculty association (EBF) is the faculty association for all students studying at the faculty of Economics and Business of the University of Groningen.
The EBF is your partner during your time in Groningen by organising events that support you with your studies and help you prepare for your future career.
https://www.ebfgroningen.nl/
Read more
Study support

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.