M.Sc. Econometrics and Operations Research

VU University Amsterdam

Application deadline: 1 June via www.vu.studielink.nl (students with direct admission)/ International degree students: 1 April (different deadlines may hold for other category students)
Tuition fee:
  • € 1,835 / Year (EEA)
  • € 12,000 / Year (Non-EEA)
Start date: September  2014, September  2015
Credits: 60 ECTS
Duration full-time: 12 months
Languages:
  • English
Location:
Disciplines:
Delivery mode: On Campus
Educational variant: Full-time

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Description

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Management science, optimization problems, mathematical modelling. Economic analysis for today, quantitative forecasting for tomorrow.
Regression

What is the best way to go about modelling the complex link between unemployment and inflation? Sophisticated statistical techniques are required for analysing the data derived from these relationships.

Production and inventory analysis

Efficient operations are key to profitable manufacturing processes. How can production be managed strategically to avoid having to disappoint customers by not delivering on time?

Career prospects
Holding a Masters 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.

Contents

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.

First semester

In the first semester, students take the first two econometrics courses and two optional courses from a designated list. The first semester is concluded with a case study, in which students will apply the theory studied to practical cases in the field of the specialization chosen. Apart from honing the student's skills in practical application of advanced theory, the research project aims at strengthening the student's academic and professional skills such as writing, presenting and defending research. Students also receive further training in the use of quantitative and ICT-methods in solving problems.

Second semester

In the second semester the student attends his third econometrics course and has the possibility to choose his third and final optional course. The larger part of the second semester is devoted to writing the master's thesis. To this end the student carries out an independent academic research project and reports on this in his thesis. Carrying out the research project and writing the thesis takes about three months. The master's thesis is written individually. Students are, however, required to take part in the concomitant thesis seminar, in which the research findings of the students are periodically presented and critically discussed.

Requirements

Specific 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:
1. hold a degree from an institution at which English is the language of instruction
2. 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.

English Language Requirements

IELTS band: 6.5
CAE score: (read more)

Cambridge English: Advanced (CAE) is part of the Cambridge English suite and is targeted at a high level (IETLS 6.5-8.0). It is an international English language exam set at the right level for academic and professional success. Developed by Cambridge English Language Assessment - part of the University of Cambridge - it helps you stand out from the crowd as a high achiever.

75 (Grade B)
TOEFL paper-based test score : 580
TOEFL iBT® test: 92

Funding

Scholarships / Grants:
Neso Indonesia:StuNed Scholarships for Master studies, short courses and customized training programmes are available for Indonesian professionals with at least two years work experience in a development-related organization.For additional information: Website

Nuffic:The Orange Tulip Scholarship Programme supports promising Taiwanese graduates and young professionals intending to pursue postgraduate degree programmes at a Dutch higher education institution. For additional information: Website

VU University Amsterdam:VU University Amsterdam awards its own scholarships to outstanding students joining our international Master's degree programmes. The VU Fellowship is an amount of money between 2.500 and 15.000 Euros to cover a part of the study expenses. The general criteria for selection are excellence, motivatioFor additional information: Website

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Accreditation

All degree programmes of VU University Amsterdam are accredited by NVAO. If the procedure for accreditation of a programme not yet is completed, this is indicated in the description of te programme. NVAO (Nederlands-Vlaamse Accreditatieorganisatie) is the Accreditation Organisation of The Netherlands and Flanders. NVAO is entrusted by law to accredit all existing bachelors and masters degree courses and to validate new study programmes at government-funded higher education institutions as well as
institutions approved (but not funded) by the Dutch government.

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