MSc in Econometrics, Operations Research, and Actuarial Studies University of Groningen

Would you like to learn how quantitative analysis can support and improve decision-making?

The MSc Econometrics, Operations Research, and Actuarial Studies(EORAS) use mathematical and statistical models to analyze problems in business, economics, finance, insurance, and related areas. We address questions such as: How will future employment ratios develop in Europe? How much influence will petrol prices have on car usage? What is the minimal route length to deliver large amounts of parcels? How to calculate a fair premium for a new insurance product? These questions have in common that they use mathematical modeling and data science in the decision-making process. You will learn how to construct appropriate models, apply these models with real-life data and (statistical) software, and design and implement computer algorithms to evaluate the decisions. Importantly, you also learn how to give proper (economic) interpretations of the outcomes of the analysis.

The MSc EORAS in Groningen has three specialized profiles: Econometrics, Operations Research, and Actuarial Studies.

Why study this program in Groningen?

The program has three profiles to choose from and is attractive for both research-oriented and more practically focused students. The emphasis is on the application of mathematical modeling to practical problems and how to extract useful information from available economic data. Class sizes are relatively small, ensuring interaction between students and lecturers.

Besides, it is an internationally accredited program, ensuring a high-quality education that meets both the AACSB and EQUIS standards, which only one percent of the universities reach worldwide.

The program in Econometrics, Operations Research, and Actuarial Studies (EORAS) offer three distinct profiles to choose from. This allows you to benefit from the combination of three profiles within the same program.

1. Econometrics, which aims at quantifying causal relations among economic variables using statistical models. The models are used for forecasting purposes, for supporting policy decisions, and are applied in fields such as finance, fintech, government, and marketing.
2. Operations Research, which uses mathematical and probabilistic models to solve optimization and decision-making problems, for example in business, consultancy, logistics, and operation management. 3) Actuarial Studies, which focuses on mathematical models for risk management in the financial sector, consisting of insurance companies, pension funds, banks, hedge funds, and institutional investors.

In addition to taking courses from the chosen profile, you are encouraged to take courses from the other profiles. The reason is that a proper quantitative analysis contains elements from each profile, such as data collection and analysis, optimization strategies, and risk assessment. In other words, you are encouraged to broaden your problem-solving skills by acquiring knowledge on the topics taught in multiple profiles. The “toolkit” that you develop in this way will be of high relevance in a world that depends more and more on data science, programming, and quantitative analysis.

Courses

• AS | Asset and Liability Management, OR: Banking, Insurance, and Risk Management (5 EC, optional)
• AS | Dependence & Extremes in Risk Management (5 EC)
• AS | Models for Short Term Risk Management (5 EC)
• EC | Applied Macroeconometrics, OR: Applied Microeconometrics (5 EC, optional)
• EC | Econometric Inference (5 EC)
• EC | Econometric Theory and Methods (5 EC)
• Electives (subject to approval) (10 EC)
• Electives MSc EORAS (15 EC)
• Master's Thesis EORAS (20 EC)
• OR | Analysis of Complex Systems, OR: Supply Chain Optimization (5 EC, optional)
• OR | Combinatorial Optimization (5 EC)
• OR | Stochastic Programming (5 EC)

Program options

• Master Internship (specialization)
• Double Degree Master China and the World Economy (specialization)

Study abroad

• Study abroad is optional
• For an average of 20 weeks

Job prospects

Graduates of the MSc EORAS are generally very successful in finding a job. The three profiles have a broad scope and are highly valued by employers.

As a graduate, you typically work at banks, insurance companies, logistics firms, central banks, pension funds, consultancy firms, the government, or supervisory authorities, to name a few. Both the public and the private sector offer interesting job perspectives. Finally, you could start a career as a researcher in academia or at research institutes.

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. In order to give you a better idea of your prospects after graduating.