Econometrics and Operations Research

European countries and businesses are in the process of building a vast radio telescope network across Western Europe. What are the best locations for the telescopes, taking into account matters such as optimal coverage, building costs, interference from cities and site stability? If you choose to study Econometrics and Operations Research there is a high chance that you will encounter questions like these.

You will look for answers to practical problems using mathematical models. These models are at the heart of Econometrics and Operations Research. There are usually no immediate answers to economic questions, but by formulating the question in a model, you will nevertheless try to find an answer that you can defend. As a researcher into such problems, you must be able to think logically and analytically. And of course you have to be interested in exploring complex problems and puzzles.

You map the economic problems that you research in Econometrics and Operations Research using mathematical and statistical methods, which is why the subjects economics, mathematics and statistics form the basis of the programme. It is important that you enjoy these subjects, particularly in combination. In addition, you will spend a lot of time working with computers. In Econometrics and Operations Research, IT is above all about application; it is a tool rather than a subject in itself.



If you want to find out more about Econometrics and Operations Research, you can make an information request below and the school will contact you with further information.

You qualify for admission:
-If you hold an International/European Baccalaureate (including Maths Higher or Maths Standard/Methods and English);
-If you hold a secondary school or pre-university diploma from an EEA country that grants admission to a Business Studies programme at a university in your own country (including equivalents of the IB/EB Maths Higher or Maths Standard/Methods and a proof of English language skills);
-If you hold a secondary school or pre-university diploma from a non-EEA country, your diploma will be compared with the Dutch University Preparatory Certificate (VWO) and the IB/EB.

Students with deficiencies with regard to Maths and/or English may be asked to take a Maths entrance examination and/or a recognized English language ability test such as TOEFL or IELTS. You need a TOEFL score of at least 580 for the written version, 240 for the computer version, 92 for the internet version, a minimum IELTS score of 6.5, or Cambridge Certificate Advanced English A, B or C.

Application:
You can apply online, please go to www.rug.nl/howtoapply

Applications are assessed on an individual basis by the admissions office. The deadlines are: 1 May for non-EEA nationals (requiring a visa to enter the Netherlands) or 1 July for all other students.

The programme is in principle mandatory for the first two and a half years, and after that you may select your own specialization from a wide range of choices.

In the first year you take lectures in the five subjects mathematics, statistics, economics, IT and modelling. With the help of modelling, you begin to understand how economics, mathematics and statistics can be translated into practice. Precisely because maths and statistics are rather abstract subjects, the course on modelling teaches you to convert practical problems into mathematical models. With the use of that model you find the mathematical solution to make predictions or pronouncements about the practical problem. In statistics you learn to do quantitative research. You learn to group, research and explain the data. IT is an indispensable tool for your studies. You learn to use software packages that can translate techniques for solving problems into a form that the computer can process. You also work with computer simulations that run models on the computer.
Economics, of course, also forms part of the programme: microeconomics looks at decisions by individual economic 'subjects', such as an individual consumer or producer. Here the focus is on the functioning of markets and how price-making forces operate. Macroeconomics emphasizes country-wide processes such as unemployment and inflation.

In the first half of the third year, you will receive introductory and the first in-depth courses in the four majors: mathematical economics, econometrics, actuarial studies and operations research.

Mathematical economics seeks to formulate economic problems in mathematical terms. You gain an understanding of economic systems, which allows us to intervene in those systems, for example through government measures. The econometrics major teaches you to make pronouncements about economic practice. It is not enough to know that demand for a product will fall if the price rises. You want to know how much demand drops if, for instance, the price goes up by 10%. In operations research the focus is also on making quantitative pronouncements, particularly with regard to practical problems. In actuarial studies you are concerned with insurance. Throughout our lives, we run all kinds of risks that may have financial consequences. You can insure yourself against high risk. The compulsory component of acturial studies consists primarily of subjects that relate directly to insurance.

In the final year you supplement your major with courses from the Faculty of Economics and Business and other faculties and put together a programme of study that closely matches your own interests. You could choose to specialize still further, or to expand your horizons.

And of course after your Bachelor's degree you can study the master Econometrics, operations research and actuarial studies.

Econometrists have a broad-based qualification and are therefore very versatile, working in diverse fields, both at home and abroad. After the Bachelor's degree, most students continue their studies, selecting a Master's programme that matches their interests. The jobs mentioned here all presuppose that you have completed a Master's degree in the Faculty of Economics and Business.

Econometrists have a range of options in the business world. Many find jobs in the fields of finance, insurance, marketing logistics or market research. Some examples are: financial expert at Shell, market researcher at Philips, logistics manager for the Dutch railways or insurance expert for Achmea. Furthermore non profit organizations like trade unions, consumer organizations or consultancies need econometrists.

Other econometrists find a job with the government working on economic and social problems. They frequently work with one of the ministries, such as Economic Affairs or Social Affairs. They are researching economic problems for the Ministry in development projects.

Some qualified econometrists choose to carry out academic research after their studies. To do academic research at a university, you have to gain a place as a PhD student. This will allow you to conduct independent research that leads to a doctorate (the title of dr). In addition, you will undertake further study and give lectures to students.

BSc in Econometrics and Operations Research

Tuition fees (2009-2010):
For EU/EEA students: EUR 1,600 per year
For non-EU/EEA students: EUR 6,700 per year

Study at the University of Groningen: a highly reputed European university!

Founded in 1614 the University of Groningen is the 2nd oldest university in the Netherlands and enjoys an international reputation as one of the leading research universities in Europe. It is a university with a modern, student-oriented vision on education.

400 years of academic tradition and innovation:
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