Master in Econometrics & Operations Research
Econometrics & Operations Research is a fascinating scientific discipline which develops quantitative resources and applies them to the analysis of economic problems in their broadest sense. Vrije Universiteit Amsterdam trains students by preparing them for a professional career in which mathematics, statistics and ICT are applied for the quantitative analysis of many kinds of problems, either from the world of business, finance, economics or of a more general nature. We employ a diversity of modelling and analytical techniques. This means that the programme is divided into two specializations: (I) Econometrics and Mathematical Economics and (II) Operations Research and Business Econometrics. These are usually referred to simply as Econometrics and Operations Research, respectively.
The Master's programme in Econometrics and Operations Research is an academic programme focusing on the development and application of quantitative methods for analysing economic issues in a broad sense. The components of the Master's programme correspond closely with the department's research interests, which means that many of the latest scientific developments in areas like financial econometrics, logistics and game theory find their way directly into the teaching programme.
The master's programme takes one year.
At the beginning of the programme, students can make a choice for a specialization. However, it is not mandatory to specialize; it is possible to combine courses from either specialization to allow students to pursue their own interests. In that case, no specialization will be mentioned on the degree. The two areas of specialization are:
- Econometrics and Mathematical Economics: this stream focuses on econometric methods and techniques within finance and economics.
- Operations Research and Business Econometrics: this stream is geared towards optimizing operational business processes.
Holding a Master’s degree in Econometrics and Operations Research will give you excellent prospects for employment. You will be able to choose from career opportunities that are both exciting and varied. Econometricians find employment in the national policy research departments at planning agencies and government ministries, at financial institutions such as banks and insurance companies, and at business consultancy firms. Operations Researchers can be found in a range of industries, including logistics, innovative software development, transport and distribution, manufacturing and consultancy.
Rather than taking up a career in industry, you might wish to indulge your academic ambitions further by applying to study for a PhD in Econometrics, Operations Research, Quantitative Economics, Finance or Applied Mathematics.
Admission requirements Master's programme Econometrics and Operations Research
- Students with a Bachelor's degree that provides a thorough knowledge in mathematics and statistics (such as Econometrics, Mathematics, Management Science, Operations Research, Computer Science, Physics, Industrial Engineering, Electrical Engineering, Quantitative Economics) should have passed courses on Linear Algebra, Mathematical Analysis, Probability Theory and Statistics at the level mentioned on the prerequisites page of the faculty's website (Masterprogrammes>Econometrics>entry requirements).
- Furthermore, the candidate should have sufficient knowledge of the specific topics of the selected subprogram Econometrics or Operations Research respectively. The required level is indicated by the listed books on the prerequisites page. In case of deficiencies it is your responsibility to acquire this knowledge, a possibility being to follow the core courses from the final Bachelor year Econometrics and Operations Research before commencing the master program.
- Experience in programming in C/C++, Java, Matlab or a similar computer language.
- An excellent command of English. If English is not the student's native language, there are two acceptable ways to demonstrate English proficiency:
- hold a degree from an institution at which English is the language of instruction
- score of at least 580 on the TOEFL (Test of English as a Foreign Language) test (237 on the computer-based test) (with a TWE score of 4.5), or an average of 6.5 on the IELTS (International English Language Testing System) test.
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Last updated July 12, 2016