Econometrics and Operations Research

Description

Is it possible to calculate the optimal squad for Manchester United? Can you predict the price trend for the coming year of an equity fund? In this degree, you'll find the answers to complex problems. If you decide to study Econometrics and Operations Research (EOR), you will learn to construct mathematical models to analyse economic data. With these models, you will be able to compute the unemployment rates of a country, the Gross National Product, the stock price of a company or the future exchange rate of the Euro.

The courses in the propaedeutic phase serve as the foundation for the remainder of the programme. You will take courses in Modelling, Statistics, Mathematics, Economics, Finance, Marketing and English.

After this, you will continue with mandatory courses. Building on the propaedeutic coursework, you will deepen and broaden your knowledge in the four major topics: Mathematical Economics, Econometrics, Operations Research and Actuarial Studies.
After your Bachelor's degree, you meet the requirements for entry-level positions, but almost all students decide to continue with a Master's degree.

Job perspectives

Graduates with an MSc degree are found in a broad spectrum of occupations where IT, mathematical and problem-solving skills are needed. The world of business offers jobs in finance, insurance, logistics, manufacturing and marketing. Non-profit organisations, such as employers' federations and consumer organisations also hire econometricians. Governments need the diverse skills that will make up your toolkit. Finally, an academic research is another possible career path.

Your job prospects will be good. Nonetheless, while a Bachelor’s degree may meet the requirements for entry-level positions, almost all students decide to continue with a Master’s degree. Acquiring a Master’s degree will expand still further your career opportunities in the short and long term, at home and abroad.

Job examples

• Operations Researcher

  You can start working as an Operations Researcher. You will make estimations in logistical problems, e.g. location optimisation, infrastructural questions or determining visitor attendances.

• Econometrician

  Econometricians work in a broad spectrum of occupations where IT, mathematical, and problem-solving skills are needed. The worldof business offers jobs in finance, insurance, logistics, manufacturing and marketing. You might work for an international company optimising firm logistics, setting up quality control systems, or planning the production of a new product and how to get it to market.

• Actuary (insurance business)

  As an actuary you can work for an insurance company devising new insurance products.

Detailed Course Facts

• EUR 1951 Year (EEA)
• EUR 7800 Year (Non-EEA)

• English

Course Content

Programme

• 1st year

  The courses that you will take in the propaedeutic phase serve as the foundation for the remainder of the programme. You will take courses in modelling, statistics, mathematics, economics, and computer programming.

• 2nd year

  In the second year and first semester of the third you will continue with mandatory courses. You will build on the propaedeutic coursework and deepen and broaden your knowledge in the four major topics: Mathematical Economics, Econometrics, Operations Research, and Actuarial Studies.

• 3rd year

  Finally, in the second semester of the third year you will write your Bachelor’s thesis. This thesis, centered on a particular research question, will be a test of your ability to apply the material of the previous semesters and of your mastery of research skills

Programme schedule

Courses year 1

• Estimation and Testing (5 EC)
• OR Modelling (5 EC)
• Mathematics I for EOR (5 EC)
• Microeconomics for EOR (5 EC)
• Mathematics II for EOR (5 EC)
• Probability Theory for EOR (5 EC)
• Programming for EOR (5 EC)
• Multivariate Calculus (5 EC)
• Probability Distributions (5 EC)
• Finance for EOR (5 EC)
• Statistical Modelling for EOR (5 EC)
• Linear Algebra for EOR (5 EC)

Courses year 2

• Linear Models in Statistics (5 EC)
• Statistical Inference (5 EC)
• Risk Insurance (for EOR year 2) (5 EC)
• Difference- & Differential Equations (5 EC)
• Introduction to Operations Research (5 EC)
• Macroeconomics for EOR (5 EC)
• Dynamic Econometrics (for EOR year 2) (5 EC)
• Introduction to Mathematical Economics (5 EC)
• Queueing Theory and Simulation (5 EC)
• Introduction to Actuarial Science (5 EC)
• Introduction to Econometrics (5 EC)
• Matrices, Graphs and Convexity (5 EC)

Courses year 3

• Bachelor's Thesis EOR (10 EC)
• Game Theory (5 EC)
• Elective BSc EOR (5 EC)
• Quantitative Finance (BSc) (5 EC)
• Stochastic Models (6 EC)
• Dynamic Econometrics (for EOR year 3) (7 EC)
• Risk Insurance (for EOR year 3) (7 EC)
• Suitable course(s) FEB (s.t. approval) (15 EC)

Study abroad

• Study abroad is optional
• Maximum of 30 EC

(Binding) study advice

• A minimum of 45 EC in the first 12 months ( binding )
• Get your propedeutic diploma in the first 24 months ( binding )

You will be offered study advice after first and second years of study. You can expect a positive result if you have earned more than 45 ECTS credit points (out of a total of 60 ECTS). If you have earned fewer than 45 ECTS and are issued a negative result, you will not be allowed to continue with your degree programme.

In addition, you are also expected to pass all your first-year exams by the end of your second year of study. If you don't, you will be issued a negative result and will have to leave the degree programme.You will receive preliminary study advice in December to make sure that you know where you stand.

Please contact your study advisor as soon as possible if you have any questions about the BSA system.

N.B. Some degree programmes use a tutoring system; please check with your study advisor.

English Language Requirements

IELTS band : 6.5 TOEFL paper-based test score : 580 TOEFL iBT® test : 92

To study at this university, you have to speak English. We advice you to

Requirements

Specific requirements / More information

math test

If Mathematics is not/has not been one of your final-year subjects during your pre-university education (or you took the lowest level, e.g. Maths Studies) then you will need to show proof of your level of Maths proficiency. For more information, please check our site at http://www.rug.nl/(...)nt/2/mathsdeficiency

other admission requirements

• Not directly admissible?

The International Foundation Year is a one-year programme, specially designed for international students who do not meet the requirements for direct entry to an undergraduate (Bachelor of Science) degree programme at the Faculty of Economics and Business, University of Groningen.http://www.rug.nl/feb/foundationyear

• Selection:

For more information about the numerus fixus (fixed quota) and selection procedure, check: http://www.rug.nl/feb/numerusfixus.

Work Experience

No work experience is required.

Related Scholarships*

• Academic Excellence Scholarship

  "The Academic Excellence Scholarship can provide up to a 50 % reduction in tuition per semester. These scholarships will be renewed if the student maintains superior academic performance during each semester of their 3-year Bachelor programme. The scholarship will be directly applied to the student’s tuition fees."

• Alumni Study Travel Fund

  Scholarships for students who are already attending the University of Reading.

• Amsterdam Merit Scholarships

  The University of Amsterdam aims to attract the world’s brightest students to its international classrooms. Outstanding students from outside the European Economic Area can apply for an Amsterdam Merit Scholarship.

* The scholarships shown on this page are suggestions first and foremost. They could be offered by other organisations than University of Groningen.