MSc in Economics and Business - Specialisation in Strategy Economics
Erasmus School of Economics - Erasmus University Rotterdam
Key Information
Campus location
Rotterdam, Netherlands
Languages
English
Study format
On-Campus
Duration
1 year
Pace
Full time
Tuition fees
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Application deadline
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Earliest start date
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Introduction
MSc in Economics and Business - Specialisation in Strategy Economics
Are you fascinated by the dynamics of modern economies where entire new industries are being created and existing ones constantly require renewal or are made obsolete? Do you want to understand the role of companies such as Google, Tesla, and Uber in such economic dynamics? Do you want to research and stimulate these dynamic processes and contribute to policy formulation? Do you want to be part of business start-ups or help companies anticipate, thrive, and innovate?
This specialization recognizes that economies constantly change, driven by technological innovations and shifting customer preferences for example. It acknowledges that innovation and strategic firm decisions are imperative to this dynamic process of transformation of world industry. You will focus on how entrepreneurs, firms, and policymakers can initiate and benefit from economic changes. The program concentrates on strategic decisions and interactions of different types of firms including start-ups, small firms, and large firms. As a student, you will focus on underlying economic principles that help to successfully innovate and enter new markets, to make the right choice on location and investments, and on whether to compete or collaborate with other firms. You acquire insight into how the internal and external organizational environment shape successful strategic decisions.
The Strategy Economics program provides you with a powerful set of skills, tools, and models to make smart strategic decisions and become a TRUE change-maker.
Admissions
Scholarships and Funding
Several scholarship options are available. Please visit the school website for more information.
Curriculum
Our Program is motivated by the insight that economies are constantly changing: strategic firm behaviour such as investments in innovation and foreign market entry are at the heart of competitive advantage and economic growth in the modern world. The Program equips you with the analytical tools that are necessary for making the right decisions in this highly dynamic environment. That includes a good knowledge of relevant economic theories as well as skills for carrying out independent empirical research. You will be provided with quantitative skills, needed to analyse the strategic behaviour of firms and entrepreneurs and the economic impact of such strategic behaviour.
This master’s specialisation consists of core courses, electives, seminars, and a master's thesis distributed over five blocks of eight weeks.
Block 1 and 2: Core courses and electives
The core courses which you take in block 1 represent the fundamental paradigms of the master’s specialisation. You will focus on a broad range of theories and strategy topics (in Economics of Strategy). You will learn relevant econometric techniques for analysing strategic firm decisions (in Applied Micro-econometrics). An important element of our Program is to enable students to make informed strategic decisions based on micro-econometric analysis. Therefore you will also learn to understand and interpret empirical findings to develop strategic advice for different types of firms such as on how to improve their innovation and growth performance (in Economics of Innovation). These core courses in block 1 provide a solid background for the seminars of the third and fourth blocks.
In block 2 students will further develop their econometric skills for analysing strategic decisions (in Advanced Empirical Methods). Together with the econometric skills learned in block 1, these quantitative courses are essential to prepare students for the Seminars in blocks 3 and 4 and for the Master's thesis. The electives in block 2 represent a choice of supplementary but fascinating academic views from the world of strategy economics. Among the choices we recommend are a course on strategic firm decisions that are required for operating in the global economy (in Firms in the Global Economy), a course on innovation in corporate firms (in Corporate Innovation and Venture Capital), and a course on designing effective mechanisms for reaching mutual agreements through negotiations (in Economics of Negotiations).
Block 3, 4 and 5: Seminars and master’s thesis
The seminars are essential components of the master’s Program. For these intensive courses, active participation and commitment are mandatory. In the seminars, the students apply the theories and methods they learned in the core courses to real-life problems and data.
In the first seminar in block 3 (Seminar Sustainable Firm Strategy), students develop in-depth knowledge of several strategic firm decisions to sustain in the market. These strategic decisions include pricing strategy, competitive strategy, growth strategy, as well as sustainability strategy. Students will study and analyse these strategies using relevant concepts, theories, research methods and techniques and will develop advice about firm strategy, and government policy.
In the second seminar in block 4 (Seminar in Global Firm Strategy), students concentrate specifically on a firm’s global strategic decisions such as foreign direct investment and location decisions. Attention is paid to how firms may respond strategically to changes in the general business environment (economic, technological, political-legal and international) and in the task environment (competitors, suppliers, customers, regulation). Students study relevant literature as well as apply econometric techniques to analyse these topics.
The last block is fully devoted to the master’s thesis, which is written individually under close supervision by one of our academic staff members.
Although the knowledge and skills offered by the Program are to a large extent tested by means of written exams and individual assignments, there is also substantial room for teamwork and group assignments.
The curriculum consists of:
- 30% Innovation strategy
- 30% Other types of strategy of firms and entrepreneurs
- 40% Quantitative methods and data analysis
Course Overview
- Take-Off Master
- Economics of Innovation
- Economics of Strategy
- Applied Microeconometrics
- Advanced Empirical Methods
- Electives
- Seminar Sustainable Firm Strategy
- Seminar Global Firm Strategy
- Master's Thesis Strategy Economics
Program Outcome
Credits: 60 ECTS
Master of Science
Program Tuition Fee
Career Opportunities
Most of our alumni find a job within one month after graduation. Careers include:
- Consultant (e.g., in the area of strategy, business models, business processes or sustainability)
- Strategist (e.g., growth strategist or global strategist)
- Business Analyst
- Operational role (e.g., operations or product manager)
- Policymakers for national governments or international organizations like the OECD
- (Applied) Researcher
- Self-employed/business owner
Some examples of what previous students went on to do: Consultant at KPMG; Consultant at SMP Strategy Consulting; Strategic Product Developer at APG; Digital Growth Strategist at Google; Business analyst at Bol.com; Economist at Autoriteit Consument en Markt; and Founder of a venture capital fund.