Bachelor's Open Day presentation by Dries Vermeulen and Jeroen Linders on Econometrics and Operations Research
- 1. Welcome to Maastricht University
2. Econometrics & Operations Research
- Associate Professor in Mathematical Economics
- MSc student Econometrics & Operations Research
3. W hat is Econometrics ?
- The study of economics and business administration from a
quantitative, mathematical point of view.
- The study of mathematics and statistics oriented towards
economic application.
- The ideal version of studying business and economics for
students who are mathematically talented.
4. Examples
- Statistical forecasting in business, banks and other financial
institutions, government: Given what we observed so far, what can
we expect in the future?
- Planning decisions in logistics, (public) transportation,
manufacturing, marketing, services, telecommunication: Given the
personnel and resources that we have, and the demand that we
predict, what is their most efficient use?
5. Examples (cont.)
- Asset Liability Management in Insurance companies: Given our
risk estimates and financial forecasts, how should we compose
investment portfolios?
- Market Design and Business Strategies: Given the goal to
allocate spectrum to telecommunication firms in order to balance
interests of consumers and industry, how should we set the auction
rules, and given a design how should the telecom firm bid in the
auction.
6. Career Perspectives
- Managerial decision support in: manufacturing and service
industries, consultancy, banking and insurance companies,
governmental institutions
- Software development for decision support
- Start with technical functions, grow into management
functions
- Academic careers:PhD thesis, universities and other research
institutions
7. Bachelor s Programme (3 years)
- Before the start: Online PreparatoryCourse
- First two years: Obligatoryprogramme
- Third year: - study abroad
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- - electives, includingpreparatory courses inactuarial
science
8. Outline of a Year Education Vacation Skills training Exams
Re-sits 9. Year 1
- Business and Economics (26 ECTS)
- Philosophy of Science (4 ECTS)
10. Econometrics year 1 Organisationand Marketing Analysis &
Linear Algebra& Orientation Microeconomics Analysis &
Linear Algebra & Orientation Reflection on Academic Discourse
in Business and Economics Macroeconomics Analysis & Probability
theory& Orientation Finance Probability theory &
Orientation Orientation 11. Year 2
- Economics and Finance (13 ECTS)
- Area Courses and skills (26 + 8 ECTS):
12. Econometrics year 2 Optimisation Macroeconomics &
Finance Programming Game Theory & Economics Project I
Mathematical statistics Operations research Econometric methods
Information, markets andOrganisation Project II 13. Year 3
- Study abroad (26 ECTS): obligatory
- Preparatory courses Actuarial Science (13 ECTS)
- Electives in Business and Economics (13 ECTS)
- Dynamic Modelling (6,5 ECTS)
- Bachelor thesis (4 + 6,5 ECTS)
14. Master s Programme (1 year)
- Three tracks: Econometrics, Mathematical Economics, Operations
Research and Computer Science
- New track: Actuarial Science(life insurance, pensions)
- Electives, free and obligatory
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- Bachelor s degree in Econometrics a.o.
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- Individual tests, competence
15. Characteristics
- International students (50 % Dutch, 40 % German, 10 % others)
and international teachers
- Contacts with firms and (foreign) universities, in particular
throughwww.vectum.nl .
16. What do you need?
- Interest in Business and Economics
- To have fun in logical reasoning
- To have fun in problem solving
17. A Taste of Econometrics and OR
- For secondary school students in their last or second last
year
- Get to know typical cases in Ect & OR, learn to position
your skills
- Get into contact with 3 rdand 4 thyear students
- One meeting of 3 hours every 2 ndweek here in Maastricht, in
total 8
- Offered once a year (Sept. Dec.)
- free flyer at the information desk
18. Admission requirementsfor Dutch students Graduation in 2010
and after Natuur en Techniek Natuur en Gezondheid Economie en
Maatschappij Cultuur en Maatschappij Economics & Business
Economcis (Wia1,2/ Wib1) Wi A/B Fiscal Economics (Wia1,2/ Wib1) Wi
A/B Econometrics & Operations Research Wi B Wib1 Wi B Wib1 Wi B
International Business (Wia1,2/ Wib1) Wi A/B 19. Admission
requirementsnon-Dutch students
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- www.studielink.nl & www.maastrichtuniversity.nl
- Diploma assessment by Student Service Center
- (seewww.maastrichtuniversity.nl admissions)
- Students from a non-EU/EEA country: language test (TOEFL or
IELTS)
20. Application Deadlines
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- Apply before 31 stof August 2010
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- Apply before 1 stof April 2010
21. Information Fair Faculty of Economics and Business
Administration ECT & OR FE IB Mensa Student Services DUO
(Former IB-groep) PGE Study Abroad Master s Programmes &
Decentral Selection IB/EC Language Centre IES INF IBE EFM Academy
UB Double degrees Education & Exams Office Student Life 22.
- Studying Econometrics & Operations Research
School of Business Economics 23. Who am I?
- Master student Econometrics & Operations Research
(Econometrics track)
- Study Abroad in Adelaide, AUS
24. Why chooseMaastricht?
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- E&OR in Maastricht is relatively small
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- Personal contact with teachers and tutors
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- Group feeling among students; everyone knows everyone
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- Developing great English skills
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- Useful for further career
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- Literature will be English(so why not talk English as
well?)
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- #1 in E&OR according to Elsevier
25. Why chooseEconometrics & Operations Research?
- Really enjoyed doing mathematics
- Had a healthy interest in economics
26. My three years E&OR
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- Fellow students became good friends
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- Blending economics and mathematics
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- Still a challenge, but more fun
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- Using all youve learnt in your bachelor thesis
27. Study Abroad
- Long time away from home.
- Not much of a world traveller.
28. Studying abroad in Adelaide, AUS
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- Good opportunity to have more advanced economic courses
- Most of the time: having fun!
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- Meeting people from all over the world
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- Travelling around. A lot.
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- No worries! Enjoying the Australian lifestyle
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- Grew as a person, while having the best time of my life!
29. 30.
- Verenigde Econometristen uit Maastricht
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- Study association for all econometrics students in
Maastricht
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- Company presentations, Vectum Congress, Vectum Business Tour,
National Econometricians Day (LED)
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- Block drinks, Poker tournaments, Movie nights, Lasergaming,
Karting, Parties and a Members Weekend
31. Maastricht: city of students
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- International, still mainly Dutch and German
- A lot of great bars and pubs
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- Every night of the week is a good night
- Not too difficult to find a nice room
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- My room: 280 euros, 18m2, about ten minutes from city
center/university
Faculty of Economics and Business Administration 32. Sports
- Student Sports Associations
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- Athletics, Rugby, Dancing, Rowing, Hockey,
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- Volleyball, Climbing, Tennis, Soccer, Tae Bo,
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- Swimming, Cycling, Fencing, Sailing, Diving,
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- Badminton, Fitness, Horse riding, Ballet, Capoeira,
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- Ice-Skating, Water polo, Aerobics, Judo.
Faculty of Economics and Business Administration 33. Student
associations
- Larger student associations
- Independent fraternities/sororities
34. A typical student week Faculty of Economics and Business
Administration Spanish Language Course Lecture Game Theory Having
dinner with housemates Reading/Studying Lecture Mathematical
Statistics Studying Business Trip Committee Meeting Vectum activity
Indoor soccer competition Sleeping in Tutorial Game Theory Studying
Going out Still going out and sleeping in Tutorial Mathematical
Statistics Lecture Game Theory Studying Dinner at parents Enjoying
the weekend Spanish homework Last-minute studying Enjoying the
weekend Monday Tuesday Wednesday Thursday Friday Saturday Sunday
35. Questions Faculty of Economics and Business Administration 36.
Maastricht University