MSc in Econometrics and Operations Research

Econometrics and Operations Research

MSc in Econometrics and Operations Research is a one-year programme conducted in English. You can choose one of the following specializations: Actuarial Sciences, Econometrics, Mathematical Economics, and Operations Research.

Actuarial Sciences

The role of actuaries is changing. Until recently, actuaries have concentrated on mitigating risk. Now, their role is broader and more proactive: they study market demand and manage return on investment, both in the short and long terms. To do this, they must take a balanced view of both assets and liabilities. The Actuarial Sciences track at Maastricht University is one of only three such studies in the Netherlands, putting it at the cutting edge of its field. Become a ‘financial engineer’: take Actuarial Sciences.

What will you learn?

Keys skills that you will learn include problem-solving and the ability to see those problems from more than one point of view. You will also learn how to communicate your opinions and solutions professionally and clearly in order to persuade others of your viewpoint.

At the end of the track, you will be able to:

• break financial problems down into smaller parts in order to solve them
• use a two-pronged approach to financial problems: an asset perspective and a liability perspective
• demonstrate financial expertise in the pension and insurance sectors

Econometrics

The Econometrics track looks at three major areas:

• statistical analysis of economic data
• finance – including financial theory
• asset liability management

What will you learn?

In pensions and investment funds, investors need predictions of how their portfolio will develop over time. Econometrics will give you the tools to predict this for them, making you an extremely valuable human resource in the investment sector. Econometrics will provide you with the know-how to get to grips with new information quickly, in order to be able to solve problems. Fast.

At the end of the track, you will be able to:

• analyse data using statistical and econometric tools
• model future developments based on past data

Mathematical Economics

Mathematical methods can be used to solve a whole range of business problems, from a company’s finances to the organisation of its people. In order to do this strategically, the Mathematical Economics track looks at theories and models that can help you make the right decisions.

What will you learn?

Mathematical Economics is certainly a theoretical track. But it’s also about solving real business problems, which means that you’ll learn about more than just the academic theories. You’ll also learn about business issues such as resources (both human and material), finance and organisational structure (both internal and external).

At the end of the track, you will be able to:

• apply theoretical models to solve business problems
• take educated decisions on resources, finances and organisational structure

Operations Research

Business and economic problems can use several methods to solve them. In the Operations Research track, you will use optimisation techniques, such as algorithms, for this purpose. You will also use computer technologies and programming techniques to reach solutions.

What will you learn?

Operations Research is about using technology but, more importantly, it’s about applying that technology in business situations to solve real problems. The track will give you the means not only to use computer programming to your advantage, but also to communicate your proposed solutions to the business decision-makers effectively.

At the end of the track, you will be able to:

• develop and implement software to find solutions for logistical scheduling problems
• offer good advice on finding technical solutions to business and economic problems

Career prospects - Actuarial Sciences

Most graduates of this track do go on to become qualified actuaries. There is a huge demand in this industry; ABP and AZL pension funds actually approached Maastricht University to ask them to offer this track to meet the current undersupply. However, you can also go on to apply for many roles in banking or insurance that require a similar skill set. Econometricians acquire techniques in investigating large sets of data, which can be used in many industries. Many banks, pension funds and insurance companies approach students regarding jobs before they have finished studying.

Moreover, student associations in the field have contacts with companies, or are even sponsored by them. NETSPAR, a large research institution in Tilburg, has connections with universities as well as insurance companies and pension funds.

Graduates have found positions in:

• insurance companies
• pension funds
• consultancy firms

Career prospects - Econometrics

If you want a career as a top analyst, this track is for you. The skills that you will acquire through Econometrics can also be employed in pension and investment funds. Indeed, any role that requires you to use previous data to model future data, and to predict how a customer’s portfolio will develop over time, would be well served by this track.

Graduates have found positions in:

• governmental institutions
• banking
• large corporations
• research institutes, including PhD positions
• analytical firms

Career prospects - Mathematical Economics

Do you have the ambition to become a leading financial analyst or a top manager? A qualification in Mathematical Economics gives you the potential to do just that. The skills you will acquire include the ability to analyse problems quickly and assess them accurately. These skills are hugely valued in any industry, and will give you the potential to become one of the managers of the future.

Graduates have found positions in:

• analyst firms
• technical roles
• senior management in any industry
• universities to do a PhD, either to obtain a further qualification or to embark on an academic career

Career prospects - MSc in Operations Research

Having completed the track in Operations Research, you will be well suited to a technical role, providing decision-making advice and support to management teams. Later, you will be well qualified to take those decisions as a manager yourself.

The internship is an excellent chance to gain work experience in a company, field or industry that interests you. And you never know – you may even be offered a job at the end of it!

Graduates have found positions in:

• logistics
• telecoms
• distribution industries