What is the most cost-efficient location for placing windmills in the Netherlands? If you enjoy solving a problem like this, Econometrics and Operations Research could be right for you.
The Bachelor's program in Econometrics and Operations Research in Groningen teaches you all about econometric modeling. The strength of the program lies in its combination of four fields: Econometrics, Operations Research, Actuarial Studies, and Mathematical Economics. Important features of the program are small-group teaching, personal contact with lecturers and the combination of theory and empirical applications.
Econometrics is about the statistical methods needed to estimate econometric models. Operations research focuses on optimal decision-making and finding approximate solutions to very complex problems. Actuarial studies are about modeling the risks faced by insurance companies, pension funds and the financial sector in general. Mathematical economics studies how markets work and how prices are set. The combination of these four fields provides an extensive modeling toolkit for solving a wide range of economic problems. Many course units in our program provide the opportunity to practice econometric modeling on the basis of real-life data, thus providing optimal preparation for your future career as an econometrician, operations research specialist, or actuary.
Why study this program in Groningen?
EOR is an internationally accredited program, ensuring a high-quality education that meets both the AACSB and EQUIS standards, which only 1% of business schools reach worldwide.
You acquire a sound background in economics, mathematics, and statistics and become familiar with a range of important models. You learn how they can be put to best use. You develop an aptitude for research and become skilled in communicating mathematical and quantitative results. With this, you can address a wide range of economically relevant problems.
The first year starts with an intensive entry program, in which you take your first course units, meet your fellow students and obtain important study information. You will take course units in mathematics, probability theory, statistics, modeling, programming, microeconomics, and finance. These course units lay the foundation for the rest of the program.
Finance for EOR (5 EC)
Mathematics I for EOR (5 EC)
Microeconomics for EOR (5 EC)
Linear Algebra for EOR (5 EC)
Mathematics II for EOR (5 EC)
OR Modelling (5 EC)
Probability Theory for EOR (5 EC)
Estimation and Testing (5 EC)
Probability Distributions (5 EC)
Programming for EOR (5 EC)
Multivariate Calculus (5 EC)
Statistical Modelling for EOR (5 EC)
The most important skill that you will learn is how to use mathematical models to answer complex economic questions.
This involves the following steps: start with an economic question or problem; carefully determine the relevant decision variables and parameters; construct a model that involves these variables and parameters and can answer the question; estimate the model with real-life data by applying appropriate techniques from statistics and mathematics; answer the question using the results from the estimated model.
Macroeconomics for EOR (5 EC)
Matrices, Graphs, and Convexity (5 EC)
Statistical Inference (5 EC)
Difference- & Differential Equations (5 EC)
Linear Models in Statistics (5 EC)
Introduction to Actuarial Science (5 EC)
Introduction to Econometrics (5 EC)
Introduction to Operations Research (5 EC)
Queueing Theory and Simulation (5 EC)
Dynamic Econometrics (for EOR year 2) (5 EC)
Introduction to Mathematical Economics (5 EC)
Risk Insurance (for EOR year 2) (5 EC)
In the first part of the third year, it is possible to take a minor. You can choose one from a different degree program or faculty, at a university either in the Netherlands or abroad. In the second semester of the third year, you will write your Bachelor's thesis to prove your modeling skills.
Finance Theory and Modelling (5 EC)
Marketing Analytics (5 EC)
Numerical Methods for EOR (5 EC)
Elective BSc EOR (5 EC)
Empirical Econometrics (5 EC)
Stochastic Models (5 EC)
Bachelor's Thesis EOR (10 EC)
Game Theory (5 EC)
Study abroad is optional
Maximum of 30 EC
Mathematics should have been passed as a higher level (advanced) subject in your secondary school education. Please note that the level of mathematics will need to be assessed by the Admissions Board.
IELTS Academic overall score 6 (Speaking 6, Writing 5.5); TOEFL internet-based overall score 90 (Speaking 20, Writing 20); C1 Advanced (with minimum score 169); University of Groningen Language Centre Test B2 overall.
To meet the general entry-level requirements, you will need an educational background equivalent to the Dutch pre-university education (VWO).
Students have to apply via Studielink and the Online Application System (OAS) of the University of Groningen. After you apply for the program of your choice, the Admissions Office will evaluate your educational background and assess your eligibility. Your application will be assessed on an individual basis.
Type of student
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Almost all students decide to continue with a Master's degree in EOR or a related field. Acquiring such a Master's degree will expand your career opportunities in the short and long term, at home and abroad. Graduates with an MSc degree in EOR are found in a broad spectrum of occupations where mathematical, programming and problem-solving skills are needed.
The world of business offers jobs in areas such as finance, insurance, logistics, and marketing. Also, the public sector hires econometricians. Finally, moving into academia is another possible career path. Because all our programs are EQUIS and AACSB accredited, a standard which only one percent of universities reach worldwide, your degree will be highly valued on the labor market.
FEB Career Services
To support you in developing your career and strengthen your employability skills, our FEB Career Services empowers you to achieve lifelong success through various career services during your studies.
Quantitative analyst (logistics, finance, banking, insurance, marketing)
Consultant (logistics, finance, insurance, marketing)
Actuary (insurance, pensions)
Risk manager (financial sector)
Researcher (university, government, research institute, central banks)
Linking education to research and career preparation
From the start of your degree program, attention is paid to both pre-professional development and academic research. In this way, our education is strongly rooted in business practice and research. The lecturers involved in our program conduct research projects on various economically relevant topics and often integrate such research in their lectures. Furthermore, alumni are regularly asked to give guest lectures in order to show how specific course topics can be used in practice.