| 1 | Applied Microeconometrics | EBM110A05 |
| This course provides a thorough understanding of microeconometric methods. During the course applications of the different methods are discussed mainly in the fields of consumption (saving) behavior, labor economics, industrial organisation and financial economics. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | prof. dr. R.J.M. Alessie | | Docent(en) | prof. dr. R.J.M. Alessie M. Kesina, PhD. | | Onderwijsvorm | gecombineerde hoor-/werkcolleges | | Toetsvorm | -individuele opdracht, -groepsopdracht | | ECTS | 5 | | Entreevoorwaarden | Econometric Theory and Methods; Econometric Inference. | | Opmerkingen | Info: Prof. Rob Alessie, phone: +31(0)50 36 37240, e-mail: r.j.m.alessie@rug.nl
Secretary: Kimberley Vudinh, k.m.vudinh@rug.nl, room 5411.0734 |
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| 2 | Asset and Liability Management | EBM111A05 |
| The total invested assets of pension funds and insurance companies worldwide adds up to almost $65 trillion. In this course we discuss how these long term institutional investors set their strategic asset allocation (SAA) using Asset Liability Management (ALM) models. We discuss ALM both from an academic and from a practical perspective. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. E.L. Kramer | | Docent(en) | dr. E.L. Kramer | | Onderwijsvorm | -gastcollege , -hoorcollege | | Toetsvorm | -individueel mondeling tentamen | | ECTS | 5 | | Entreevoorwaarden | Affinity with math, statistics and finance | | Opmerkingen | Info: Dr Bert Kramer, e-mail: e.l.kramer@rug.nl.
Secretary: Martine Geerlings-Koolman, phone: +31(0)50 36 37018, e-mail: m.a.koolman@rug.nl. |
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| 3 | Behavioural Finance & Personal Investing | EBM806B05 |
| Behavioral Finance (BF) is a new development in the field of finance, which has been going on for more than two decades now. This development has not only affected academic finance, but has also gained profound interest from practitioners, in particular in the field of investments. In BF, empirical phenomena are being analyzed in terms of behavioral characteristics. In doing so, it explicitly deviates from the rational decision-making approach of financial economics. In this course we will focus mainly on individual investor psychology and behavior and contrast it with the neo-classical approach. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. M.M. Kramer | | Docent(en) | dr. M.M. Kramer | | Onderwijsvorm | -hoorcollege | | Toetsvorm | -individuele opdracht, -schriftelijk tentamen (open en mc vragen) | | ECTS | 5 | | Entreevoorwaarden | Students have a bachelor in Economics or Business | | Opmerkingen | Secretary: Grietje Pol, phone: +31 (0)50 363 3685, e-mail: g.pol@rug.nl, room: 5411.0836.
The course literature mentioned in the above is only indicative. The final reading list of the course will be published in due time.
This course is also open for a max of 8 exchange students. |
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| 4 | Country Studies | EBM093A05 |
| What are the opportunities and bottlenecks for economic development in a country? What are the lessons for government policies? In this hands-on course, you will focus in-depth on the causes and consequences of economic development in a specific country. As part of a small team, you will analyze one particular theme such as the education system, trade, the business environment or the financial sector. Your analysis will be based on academic literature that discusses what makes a successful institution and statistical data sources. The literature on your theme will be introduced in thematic groups with members from other country teams. The analysis of your theme forms one chapter of the final country report. The insights from the different analyses by the group members are synthesized into a summary chapter to provide useful information for policy makers about the prospects for economic growth and doing business in your country. Together with your team, you will analyze growth patterns and discuss the findings and policy recommendations from your report with the lecturers and other course participants. Your final course grade is based on an individual grade for the chapter you contribute to the country report; a grade for the quality of the feedback you provide to fellow students; a group grade for the summary chapter that synthesizes the other chapters; and a grade for your contribution to a discussion panel. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | K.M. Wacker, PhD. | | Docent(en) | prof. dr. D.J. Bezemerdr. A. Minasyan K.M. Wacker, PhD.dr. R.H.T. Wiese | | Onderwijsvorm | -groepsbegeleiding , -hoorcollege , -individuele begeleiding, -practicum | | Toetsvorm | -groepsopdracht, -individuele opdracht | | ECTS | 5 | | Entreevoorwaarden | Bachelor's degree in Economics and Business Economics or comparable qualification. Builds on knowledge of macroeconomics and economic growth. | | Opmerkingen | Secretary GEM: gem.feb@rug.nl, +31(0)50 363 3458, 5411.0536
Coordinator: k.m.wacker@rug.nl |
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| 5 | Economic Geography | EBM094A05 |
| The geo-economic map of the world changes constantly. Globalization has led to a rapid increase of these changes in the location decisions of firms. This course aims to provide students with a better understanding of the resulting changes in the geo-economic patterns of the uneven distribution of economic activity over space and the underlying strategic decision of firms to re-locate in (or offshore to) knowledge intensive clusters of economic activity. We discuss key theories and empirical evidence to understand these changes and, subsequently, discuss the firm level drivers of these changes. |
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| 6 | Economics of Regulating Markets | EBM148A05 |
The central theme of the course is: how do energy markets, in particular electricity and gas markets, function and how can this be improved by governments (regulators). The functioning of energy markets differs from many other sectors because of the economies of scale of the networks, resulting in natural monopolies, the importance of network balance, the societal objective to radically change the nature of the energy industry (i.e. energy transition) and the fact that energy is a basic commodity which is needed by everyone. Topics to be discussed are among others: how to determine the tariffs that an operator of an electricity or gas network is allowed to charge on users of the infrastructure? How to implement competition in the energy industry, both on wholesale level and retail level? To what extent need the energy markets be changed because of the energy transition in which fossil technologies are replaced by renewable sources (as wind and solar)? How to give incentives to energy producers and consumers to reduce carbon emissions?
Knowledge of economics of regulating market is useful for positions within regulated companies (TenneT, Gasunie, etc.), companies using regulated infrastructures (in particular large energy users), governments (national, EU), regulatory bodies (ACM, ACER, etc.) and consultancies (PWC, Oxera, etc.).
The course not only deals with the economic theory behind the regulation of markets, but also applies this theory to real-life problems in energy markets. The course consists of lectures and tutorials every week. The course starts by discussing the question why some markets, in particular energy markets, need regulation and others not, Then, we discuss how the government could regulate these markets. These first meetings are meant to give the students some theoretical background in economic regulation. Afterwards, we discuss key issues in the daily practice of regulation: benchmarking on efficiency and the determination of the the appropriate reward (i.e. the WACC) on capital which is invested in the network. These questions are highly important for regulated firms as it affects how much profit they are allowed to make and to which extent they are able to finance the investments. Then, we go into in the question how to implement competition in energy markets. We discuss the design of electricity and gas markets on wholesale level and how these markets become more integrated on an international level. We also pay attention to how environmental regulation (like emissions trading and subsidies for renewables) can be designed and how this affects the electricity sector/market. In the final meeting, we pay attention to the retail energy market, discussing how competition can be implemented in markets where the demand is affected by factors like (perceived) switching costs and trust in retailers.
In most weeks, there will be assignments, which are discussed in the tutorials based on presentations by students. In addition, there will be a few extra tutorials where we recap the material and discuss questions of students. This course is part of the focus area 'Energy'. When you focus your MSc on energy subjects you will be awarded an official acknowledgement on your diploma, improving and broadening your career opportunities in the energy sector. Prerequisites are mentioned in the Teaching and Examiniation Regulations: 'Focus areas in the master programmes'. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | prof. dr. M. Mulder | | Docent(en) | prof. dr. M. Mulder | | Onderwijsvorm | werkcolleges, -gastcollege , gecombineerde hoor-/werkcolleges | | Toetsvorm | -groepsopdracht, -groepspresentatie, -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | Open to all MSc students, but students are recommended to have some background in microeconomics and finance. | | Opmerkingen | Info: Prof. Machiel Mulder, e-mail machiel.mulder@rug.nl
Secretary: K. Beute; e-mail k.beute@rug.nl, room 5411.0734, phone +31(0)50 3637018 |
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| 7 | Energy Transition & Innovation | EBM167A05 |
| The energy industry has changed, is changing, and must continue to change, in order to become more sustainable. The transition, however, presents faces a number of challenges, such as: (1) social challenges, for example, in terms of social resistance to the change; (2) business challenges, for example, as both emergent green technologies and polluter incumbents look for ways in which to become financially sustainable in the new environment; (3) policy challenges, for example, as governments look for ways in which to incentivise the transition; and (4) marketing challenges, for example, as once niche ideas about sustainability and environmental protection, are mainstreamed. In this course we will explore each of these challenges, we will reflect upon the business opportunities that each creates, and will consider the supporting role of competition and markets. In the process, students will gain knowledge about the challenges and opportunities presented by the transition. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. K.J. McCarthy | | Docent(en) | dr. K.J. McCarthydr. B.C. Mitzinneckdr. F. Noseleit | | Onderwijsvorm | -werkcollege, -hoorcollege | | Toetsvorm | -groepsopdracht, -groepspresentatie, -schriftelijk tentamen (open en mc vragen) | | ECTS | 5 | | Entreevoorwaarden | General requirements for admittance to the MSc | | Opmerkingen | Secretary: room 5411-0434, phone +31(0)50 363 4303 |
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| 8 | Fin. & Econ. Org. of Healthcare Markets | EBM194A05 |
| This course incorporates an advanced perspective on the economics behind organizations operating in the health and healthcare sectors. We recap the individual decision to buy health insurance and discuss the social benefits and costs arising from its provision. We explain why health insurance markets may fail, and solutions that may arise to obviate such market failure. We then discuss major actors in health and healthcare markets: physicians, hospitals, and the pharmaceutical industry. We examine how principal-agent problems characterize the patient-physician relationship. We examine funding methods for hospitals and their impact on physician's incentives. We finally examine the role of the pharmaceutical industry in researching and developing new health technologies and treatments, as well as the process of getting drugs to market. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. A. Bergemann | | Docent(en) | dr. A. Bergemann H.H. Dijk, MSc. | | Onderwijsvorm | -hoorcollege , -werkcollege | | Toetsvorm | -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Opmerkingen | Secretary: Kim Beute, k.beute@rug.nl, phone +31 (0)50 3637018, room 5411.0734 |
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| 9 | Inclusive Finance | EBM069B05 |
| The course is designed for MSc students with a background in (business) economics. The focus is on the role of financial markets in low-income countries with a strong focus on microfinance and financial inclusion. In this course, we will study why financial markets in low income countries fail to provide access to financial services for the poor, which mechanisms allow to provide these services, and which alternative methods are used by the poor to manage their cash flows, finance investments, and cope with income risks. Both theories on financial development and the economics of microfinance as well as empirical applications in low-income countries will be studied in this course. We look at opportunities and limitations of financial institutions in low-income countries in general, and of microfinance institutions in particular. Specific topics include: finance and development; credit market failures; the economics of microfinance; techniques to measure impact of financial interventions on borrower welfare. The course contains main lectures, guest lectures and group oral presentations by students. The course is part of the focus area on finance and development together with the course 'International Finance and Development'. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. K. Czura | | Docent(en) | dr. K. Czura Guest Lecturer(s)dr. A.M. Mueller | | Onderwijsvorm | -gastcollege , -hoorcollege , -werkcollege | | Toetsvorm | -groepspresentatie, -schriftelijk tentamen (open en mc vragen) | | ECTS | 5 | | Entreevoorwaarden | The course is open for all students with a Bsc in business or economics. | | Opmerkingen | The course can be followed as an elective for the different master programmes within the Faculty of Economics and Business and is open for a max of 8 Exchange Students.
The course is part of the focus area on finance and development together with the course International Finance and Development (EBM207A05).
Secretary: Ellie Jelsema, phone +31 (0)50 3633685, e-mail: e.t.jelsema@rug.nl, room 5411.0836 |
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| 10 | International Finance and Development | EBM207A05 |
| Globally there is an increasing realization of the need to attract foreign capital and finances for national development in the lower income countries. Foreign financial flows could take the form of foreign direct investment (FDI), foreign equity capital, foreign debt, development aid and increasingly remittances. The impact of capital flows and how best to attract and utilize them, especially in developing countries, remain a crucial policy debate. Moreover, the operations of multilateral and international financial institutions and their protocols are complex. This course deals with the role and impact of external finance for development and the mechanisms for attracting them. It also discusses the dynamics of multilateral institutional arrangements, like the World Bank and the IMF. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. A. Minasyan | | Docent(en) | dr. K. Czuradr. A. Minasyan | | Onderwijsvorm | -werkcollege, -gastcollege , -hoorcollege | | Toetsvorm | -groepspresentatie, -individuele opdracht | | ECTS | 5 | | Entreevoorwaarden | Background in Economics and/or Business at BSc level | | Opmerkingen | If MSc Finance students are willing to do a “focus” area in Finance and Development, this course needs to be combined with the Inclusive Finance (EBM069B05) course.
Secretariat: e-mail: gem.feb@rug.nl, phone: +31 (0)50 3633458 |
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| 11 | Master's Thesis Economics | EBM877A20 |
| Students write a research paper during a period of 3-5 months. This paper covers at least one subject within Economics as defined by the main themes of the Journal of Economic Literature. Students have to register for this “course”, which starts with an introductory lecture in the first week of semester 1 or semester 2. The paper needs to be finished before the end of the semester and has to be defended during an oral exam. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | S. Sovago | | Docent(en) | S. Sovago | | Onderwijsvorm | -individuele begeleiding | | Toetsvorm | -individuele opdracht | | ECTS | 20 | | Entreevoorwaarden | 20 EC within Master Economics | | Opmerkingen | Secretary: K.M. Vudinh, k.m.vudinh@rug.nl, room 5411.0734
This course is offered in both semester I and semester II.
Detailed information can be found in the brochure "Manual for Master Thesis Economics" posted on Nestor. Students who want to write a combined thesis for the masters of Economics and of Finance need to hand in their proposal to the master thesis coordinator of Economics only and two weeks before the start of the semester. |
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| 12 | Microeconomics of Household Behaviour | EBM106A05 |
| The course will cover intertemporal models of consumption, saving and retirement decisions and review the empirical evidence on these issues. Particular attention will be paid to the question whether people save enough for retirement and to the saving behaviour of older people. Intertemporal choices will be analysed in the context of the life-cycle framework. However, deviations from economic rationality and the standard life-cycle model will also be evaluated. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | dr. M. Groneck | | Docent(en) | prof. dr. R.J.M. Alessiedr. M. Groneck | | Onderwijsvorm | -interactief hoorcollege | | Toetsvorm | -groepsopdracht, -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | The course also goes into the mathematical details of the models. Students should have a working knowledge of simple constrained optimization problems using the method of Lagrange multipliers. | | Opmerkingen | Secretary: Kimberly Vudinh, k.m.vudinh@rug.nl room 5411.0734 |
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| 13 | Monetary Policy and Financial Regulation | EBM107A05 |
| The course will discuss the following topics: European Economic and Monetary Union and the European System of Central Banks; European monetary policy (conventional and unconventional); global financial crisis; European debt crisis; European Banking Union; supporting policies needed in an incomplete monetary union, financial systems in the Netherlands, Europe, and worldwide; recent developments in the financial system and their mutual relationships; developments in prudential supervision of banks and other financial institutions; financial crises; macro-prudential supervision; systemic risk and financial stability. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | prof. dr. J.M. Berk | | Docent(en) | prof. dr. J.M. Berk S. Pool, MSc. | | Onderwijsvorm | -gastcollege , -hoorcollege | | Toetsvorm | -schriftelijk tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | Open for all Master students | | Opmerkingen | Only available on Friday.
Coordinator: Prof. Jan Marc Berk, j.m.berk@rug.nl
Secretary Grietje Pol, phone +31(0)50 3633685, e-mail g.pol@rug.nl, room 5411.0836 |
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| 14 | Public Economics and Social Policy | EBM108A05 |
This course:
- analyzes the impact of social insurance programs (such as unemployment insurance, disability insurance and health care) and of the tax system on individual behavior, poverty rates and health outcomes.
- discusses (optimal) design of social insurances schemes: trade- off between providing a decent coverage to the population and the existence of moral hazard and adverse selection problems. |
| Faculteit | Economie en Bedrijfskunde | | Voertaal | Engels | | Coordinator | S. Sovago | | Docent(en) | dr. M. Groneck S. Sovago | | Onderwijsvorm | -interactief hoorcollege | | Toetsvorm | -groepsopdracht, -groepspresentatie, -schriftelijk tentamen (open vragen), -tussentijds tentamen (open vragen) | | ECTS | 5 | | Entreevoorwaarden | - Open only for MSc Economics/MSc BA Health students
- Microeconomics at the intermediate level
- Mathematics and statistics at the BSc economics level
- Knowledge of basic econometrics | | Opmerkingen | Secretary: K.M. Vudinh, k.m.vudinh@rug.nl, room 5411.0734 |
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