BSc in Econometrics and Operations Research University of Groningen

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 Econometrics and Operations Research (EOR) in Groningen teaches you all about econometric modeling. The strength of the program lies in its combination of four profiles: Econometrics, Operations Research, Actuarial Studies, and Mathematical Economics.

Econometrics is about the statistical methods needed to estimate econometric models. Operations research focuses on decision-making and finding optimal or at least good 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 profiles provides an extensive modeling toolkit for solving a wide range of economic and business problems. Many course units in the program provide the opportunity to practice modeling on the basis of real-life cases and data, thus providing optimal preparation for your future career as an econometrician, operations research specialist, or actuary.

Why study this program in Groningen?

• 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 the 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.
• Important features of the program are small-group teaching, personal contact with lecturers, and the combination of theory and empirical applications.
• The program has been internationally accredited by the AACSB and EQUIS, ensuring a high-quality education, which only 1% of universities reach worldwide.
• In your third year, it is possible to choose a foreign minor and study abroad at one of our partner universities.

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.

Year 1

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.

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

Year 2

The most important skill that you will learn is how to use mathematical models to answer complex economic and business questions.

This involves the following steps: start with a practical 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.

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

Year 3

In the first part of the third year, you 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.

• Bachelor's Thesis (10 EC)
• Elective BSc EOR (5 EC)
• Empirical Econometrics (5 EC)
• Finance Theory and Modelling (5 EC)
• Game Theory (5 EC)
• Marketing Analytics (5 EC)
• Numerical Methods (5 EC)
• Stochastic Models (5 EC)

Program options

• Econometrics (profile)
• Operations Research (profile)
• Actuarial Sciences (profile)
• Mathematical Economics (profile)

Study abroad

• Study abroad is optional
• Maximum of 30 EC

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.

Job examples

• A 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)