Econometrics, Operations Research and Actuarial Studies, M.Sc.

  • Application Deadline
  • 12 months
  • English (book IELTS)
University rank #59 (ARWU) ,
Do you like analysing complicated economic questions? Are you interested in applying your ICT-skills to answer such questions? Then this programme in Econometrics, Operations Research and Actuarial Studies from the University of Groningen is the right one for you.


The programme in Econometrics, Operations Research and Actuarial Studies from the University of Groningen uses mathematical models to analyse problems in economics, finance and related areas. Relevant questions are: How will future employment ratios develop in Europe? What is the influence of high petrol prices on the expected number of train passengers? How can delivery routes to customers be improved? How can financial risks be quantified? 

By teaching you the basic skills of mathematical modelling, this programme provides you with a toolbox to solve economic and financial questions. You will also learn to give an economic interpretation to quantitative results. You can choose between three profiles:

  • Econometrics aims at quantifying causal relations among economic variables. The models are used for forecasting and to make policy decisions.
  • Operations Research uses mathematical models to solve complex optimisation and decision-making problems, for example in logistics.
  • Actuarial Studies focuses on mathematical models for risk management in the financial sector (insurance companies, pension funds, banks).
Job prospects

As a graduate, you can find work at banks, insurers, logistics companies, central banks, pension funds, consultancy firms, government, supervisory authorities, and competition 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.


 EQUIS and AACSB accredited

Programme Structure

Courses included:
  •  Asset and Liability Management, OR: Banking, Insurance and Risk Management
  •  Dependence & Extremes in Risk Management 
  •  Models for Short Term Risk Management 
  •  Applied Macroeconometrics, OR: Applied Microeconometrics 
  •  Econometric Inference 
  •  Econometric Theory and Methods 
  •  Analysis of Complex Systems, OR: Supply Chain Optimization 
  •  Combinatorial Optimization 
  •  Stochastic Programming 
For more information, please visit the programme website.

                      Detailed Programme Facts

                      • Programme intensity Full-time
                        • Full-time duration 12 months
                      • Credits
                        60 ECTS
                      • Languages
                        • English
                      • Delivery mode
                        On Campus

                      English Language Requirements

                      You only need to take one of these language tests:

                      • Minimum required score:


                        The IELTS – or the International English Language Test System – tests your English-language abilities (writing, listening, speaking, and reading) on a scale of 1.00–9.00. The minimum IELTS score requirement refers to which Overall Band Score you received, which is your combined average score. Read more about IELTS.

                        Book IELTS
                      • Minimum required score:


                        The TOEFL – or Test OF English as a Foreign Language – offers a paper-based test (PBT). The final, overall PBT score ranges between 310 and 677, and is based on an average taken from the three test components (listening, structure, and reading). The writing part of this test is scored separately on a scale of 0-6. Read more about TOEFL (PBT).

                      • Minimum required score:


                        The TOEFL – or Test Of English as a Foreign Language – offers an internet-based test (iBT). The final, overall iBT score ranges between 0 and 120, and includes a scaled average from the four components (reading, listening, speaking, and writing). Read more about TOEFL (iBT).

                      Academic Requirements

                      You only need to take one of these tests:

                      • You need the following GMAT score:

                        Required score: 500

                        The GMAT - or Graduate Management Admission Test - is a frequent requirement for admission at management and business schools across the world. The GRE score ranges between 200 and 800 and measures the verbal and quantitative reasoning of test-takers. Read more about the GMAT.

                      • This programme accepts GRE scores, however, has not provided a recommended or minimum required score range.

                        The GRE - or Graduate Record Examinations - is a standardized test administered by Educational Testing Service (ETS) and is part of the admission requirements at many graduate schools and business schools. The GRE score uses a range between 130 and 170 and measures verbal reasoning, quantitative reasoning, and analytical writing.

                      • Certified competences - GMAT/GRE;
                      • Grade list - A certified grade list(s) is considered in the evaluation.
                      • Language test - TOEFL, IELTS
                      • Previous education - To be eligible for admission to this Master, you need to hold an academic Bachelor's or Master's degree from a research university in the field of Econometrics and Operations Research.

                                            StudyPortals Tip: Students should consider taking one of the Pre-Master's below. these courses will be necessary if:

                                            • You are considered ineligible for admission
                                            • You need to improve your academic, study, research or language skills
                                            Search all Pre-Masters

                                            Tuition Fee

                                            • International Applies to you

                                              14200 EUR/year
                                              Tuition Fee
                                              Based on the original amount of 14200 EUR per year and a duration of 12 months.
                                            • EU/EEA Applies to you

                                              2006 EUR/year
                                              Tuition Fee
                                              Based on the original amount of 2006 EUR per year and a duration of 12 months.
                                            We've labeled the tuition fee that applies to you because we think you are from and prefer over other currencies.

                                            Living costs for Groningen

                                            750 - 1000 EUR/month
                                            Living Costs

                                            The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.


                                            Several scholarships are available for international students who are motivated to study Bachelor’s, Master’s and PhD programmes, as well as for exchanges, short courses and research stays at our university.

                                            StudyPortals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

                                            The Global Study Awards: get funded with up to £10,000 to study abroad

                                            Together with the ISIC Association and British Council IELTS, StudyPortals offers you the chance to receive up to £10000 to expand your horizon and study abroad. We want to ultimately encourage you to study abroad in order to experience and explore new countries, cultures and languages.