Program Overview

Introduction to the Bachelor's Program in Econometrics and Operations Research

The University of Groningen offers a Bachelor's degree program in Econometrics and Operations Research, which combines econometrics, operations research, actuarial science, and mathematical economics. This unique program provides students with a strong theoretical base and teaches them how to apply theory to real-life data and cases.

Program Description

The program is designed for students who like economics, math, and statistics and are eager to solve complex issues and make a real impact on society. Students will learn how to use mathematical modeling to find solutions to real-life problems, combining mathematical modeling with real-world data on important topics such as climate change, welfare, and well-being.

Program Structure

The program consists of three years, with a unique feature being the EOR Game, a simulation game where students run a company, make decisions based on big data analysis, and put the knowledge gained in class into practice. The program also offers small-group teaching and personal contact with lecturers and fellow students.

Specialization Profiles

Students can specialize in four different profiles:

• Econometrics: focuses on statistical methods needed to estimate the relation between variables.
• Operations Research: focuses on optimal decision-making and finding approximate solutions to complex real-life problems.
• Actuarial Science: focuses on modeling the risks faced by insurance companies and pension funds.
• Mathematical Economics: studies how economic actors interact with each other.

Courses

The program includes a range of courses, such as:

• Introduction to Data Analytics
• Math I: Calculus
• OR Modelling
• Math II: Linear Algebra
• Probability Theory for EOR
• Programming for EOR
• Finance for EOR
• Math III: Analysis
• Microeconomics for EOR
• Math IV: Multivariate Calculus
• Probability Distributions
• Statistical Modelling for EOR

Study Abroad

Study abroad is optional, with a maximum of 30 EC.

Entry Requirements

To be eligible for the program, students must have a Dutch diploma or an international diploma equivalent to the Dutch pre-university education (VWO). Mathematics should have been passed as a higher level (advanced) subject in secondary school education.

Admission Requirements

Specific requirements include:

• Previous education: equivalent to the Dutch pre-university education (VWO)
• Additional subject: mathematics should have been passed as a higher level (advanced) subject
• Language test: IELTS Academic overall score 6 (Speaking 6, Writing 5.5); TOEFL internet-based overall score 80 (Speaking 20, Writing 20); Cambridge C1 Advanced or C2 Proficiency (overall score 169, Speaking 169, Writing 162)

Tuition Fees

Tuition fees vary depending on nationality:

• EU/EEA: € 2601 (full-time)
• non-EU/EEA: € 13500 (full-time)

Job Prospects

Almost all students decide to continue with a Master's degree in EOR or a related field. Graduates with an MSc degree in EOR are found in a broad spectrum of occupations where mathematical, programming, and problem-solving skills are needed.

Research

Research in Groningen is deeply connected to business practice, economics, and society, with key areas including:

• Health, labour, and behavioral economics
• Inequality and demographic impacts
• Robustness and causal inference techniques
• Machine learning in econometrics
• Resource allocation and logistics (energy, health, food delivery, education)
• Pension and annuity design
• Mortality forecasting
• Insurance claims, risk modeling, and telematics

Study Support

The faculty provides study support, including mentor groups, tutor groups, and study advisors, to help students with their studies and personal circumstances.

Related Master's Programs

The program is related to various Master's programs, including Supply Chain Management, Theoretical and Empirical Linguistics, Applied Linguistics, and more.

Study Associations

The study association for the Bachelor's program in Econometrics and Operations Research is VESTING, which aims to bridge the gap between theory and practice in the field of Econometrics, Operations Research, and Actuarial Studies. The Economics and Business Faculty association (EBF) is also available for all students studying at the faculty of Economics and Business.