Students

Econometrics and Operations Research

2018-2019

The Master's programme in Econometrics and Operations Research is an academic programme that consists of two tracks: Econometrics and Operations Research. Directly from the start of the master you choose one of these tracks. Each track contains several specializations, as well as an “open specializations”, with a more broader focus on either econometrics or operations research.

The track Econometrics focuses on developments in theory, methodology and application of econometric and statistical methods for the analysis of financial, marketing and economic data, nowadays often Big Data. Econometrics connects to many academic disciplines including mathematics, statistics, computer science, economics, finance, and business studies, and is primarily concerned with the science and art of using statistics, data science and econometric methods for the analysis of economic/finance/marketing data.  Specializations within the Econometrics trace are Econometric Theory, Econometrics and Data Science, Financial Econometrics, Marketing Data Science, and Quantitative Economics.

The track Operations Research focuses on the development and application of quantitative methods for analyzing economic issues. Operations Research connects to many academic disciplines including mathematics, computer science, finance and business studies, and is concerned with optimizing strategic and operational business processes that can be found in, for example, transport networks, stock management, and advanced decision support systems. Specializations within the Operations Research track are Financial Engineering, Operations Research Theory, and Supply Chain Management.

For talented and ambitious students, we offer the Master students the extra opportunity of a MSc Honours Programme in which you can broaden and deepen your knowledge on state-of-the-art methods. 

Info

Level Master
Language English
Duration 1 years
Type Fulltime
Credits 60 EC
Faculty School of Business and Economics
Master Econometrics and Operations Research - Track Econometrics - Specialization Econometric Theory
Description
In the master specialization Econometric Theory, you explore and master
the active research field of econometrics. We offer an in-depth study
into the foundations of econometric methods that will offer you the
challenge to explore and master an active research field and will place
you first in any academic or professional career. Econometrics connects
to many academic disciplines including mathematics, statistics,
economics, finance, and business studies. Each year we attract around 75
students from which 50% are international students. We offer a high-
quality and challenging teaching program with excellent teachers. The
job perspectives of Econometrics students are excellent in all times.
Master EORM - Econometrics Theory - Specialization courses obligatory
Description
Below the compulsory specialization course for the specialization
Econometrics Theory.
Course Name Period Credits Code
Econometrics Research P3+4 6EC E_EORM_ECR
Master Econometrics and Operations Research - Track Econometrics - Specialization Financial Econometrics
Description
The Financial Econometrics specialization is a hands-on study into
econometric methods used on a daily basis in the financial industry that
will let you become the quantitative financial specialist and that will
place you at the forefront of a successful professional career.
Financial Econometrics connects different academic disciplines including
mathematics, statistics, finance, and business studies, and is primarily
concerned with the use of financial economic theory and statistical
techniques to support financial decision and policy making through the
analysis of financial and economic data sets. The econometric methods
can be used to analyse financial risk, investment strategies, financial
economic policy, monetary policy, high-frequency trading, capital
markets, financial stability, and many other topics. A programme that
will enhance your analytical skills, will invest in your quantitative
insights, will learn you how to design and apply econometric methods in
a finance context, how to analyse financial data, how to use statistical
tools for financial questions of relevance, how to approach big data
problems, how to interpret quantitative results, how to present the
results of an econometric analysis, how to deduct conclusions and to
make financial decisions from a quantitative analysis. Each year we
attract around 75 students from which 50% are international students. We
offer a high-quality and challenging teaching program with excellent
teachers. The job perspectives of Financial Econometrics students are
excellent in all times.
Master EORM - Financial Econometrics - Specialization courses obligatory
Description
Below the compulsory specialization course for the specialization
Financial Econometrics.
Course Name Period Credits Code
Financial Econometrics Case Study P3 6EC E_EORM_FECS
Master Econometrics and Operations Research - Track Econometrics - Specialization Marketing Data Science
Description
In the Marketing Data Science specialization you study econometrics and
data science methods for the analysis of marketing data to facilitate
better marketing strategies. The Marketing Data Science study let you
become the quantitative marketing specialist and place you at the
forefront of a successful professional career. We connect many academic
disciplines including mathematics, statistics, economics, and marketing.
This study is primarily concerned with the use of microeconomics,
consumer behaviour and statistical techniques to analyse data sets with
multiple hierarchies such as product, brand, location, distribution,
etc. The econometric methods are used to analyse volume shares,
advertising effects, sale strategies, consumer behaviour, brand loyalty
schemes, TV and social media advertising, and many other topics. This
study will enhance your analytical skills, will invest in your
quantitative insights, will learn you how to analyse marketing data, how
to use statistical tools for market, advertising and product-life
questions of relevance, how to approach big data problems, how to
interpret quantitative results, how to present the results of an
econometric analysis, how to deduct conclusions and to make marketing
decisions from a quantitative analysis. Each year we attract around 75
students from which 50% are international students. We offer a high-
quality and challenging teaching program with excellent teachers. The
job perspectives of Marketing Data Science students are excellent in all
times.
Master EORM - Marketing Data Science - Specialization courses obligatory
Description
Below the compulsory specialization course for the specialization
Marketing Data Science.
Course Name Period Credits Code
Marketing Data Case P3 6EC E_EORM_MDC
Master Econometrics and Operations Research - Track Econometrics - Specialization Quantitative Economics
Description
The Quantitative Economics specialization dives into the cross-roads of
applied econometrics and economics and offers the student the challenge
to explore the active research fields of microeconomics, macroeconomics
and/or macro-finance. Quantitative Economics connects many academic
disciplines including mathematics, statistics, economics, finance, and
business studies, and is primarily concerned with using economic theory
and statistical techniques to analyse economic data. This specialization
offers you the chance to explore the intersection of economics and
econometrics. This study will enhance your analytical skills, will
invest in your quantitative insights, will introduce you to a scientific
approach of analytical thinking and will generally broaden your
quantitative horizons. It will teach you how to analyse and model
economic data, how to carry out statistical hypothesis tests, how to
investigate theoretical properties of estimators and predictors, how to
design an empirical study, how to interpret quantitative results, how to
present the results of an econometric analysis, how to deduct
conclusions and policy advice from a quantitative analysis. Each year we
attract around 75 students from which 50% are international students. We
offer a high-quality and challenging teaching program with excellent
teachers. The job perspectives of Quantitative Economics students are
excellent in all times.
Master Econometrics and Operations Research - Open Specialization Econometrics
Master Econometrics and Operations Research - Open Specialization Econometrics - optional
Description
Choose 3 courses from the list.
Course Name Period Credits Code
Advanced Microeconomics P1 6EC E_EC_AMIEC
Asset Pricing P1 6EC E_FIN_AP
Combinatorial Optimization P1 6EC E_EORM_COPT
Evolutionary Computing P1 6EC X_400111
Large Scale Data Engineering P1 6EC X_405116
Marketing Strategy P1 6EC E_MKT_MSTRAT
Public Economics and Policy P1 6EC E_EC_PEP
Stochastic Processes: the Fundamentals P1 6EC E_FIN_SPFUN
Dynamical Systems P1+2 6EC X_400637
Functional Analysis P1+2 8EC X_400328
Measure Theoretical Probability P1+2 8EC X_400244
Advanced Macroeconomics P2 6EC E_EC_AMAEC
Digital Marketing P2 6EC E_MKT_DM
Economics of Climate Change P2 6EC E_STR_ECC
Economics of the Welfare State P2 6EC E_EC_EWS
Financial Markets and Institutions P2 6EC E_FIN_FMI
Geographic Information Systems P2 6EC E_STR_GIS
Macroeconomic Policy in the EU P2 6EC E_EC_MPEU
Microeconomics for Development P2 6EC E_EC_MED
Optimization under Uncertainty P2 6EC E_EORM_OPTU
Regional and Urban Economics P2 6EC E_STR_RUE
Stochastic Processes for Finance and Derivatives Markets P2 6EC E_FIN_SPFDM
Transport Economics P2 6EC E_STR_TREC
Web Data Processing Systems P2 6EC XM_40020
Behavioral Operations Research P4 6EC E_EORM_BOR
Branding and Advertising P4 6EC E_MKT_BA
Computational Finance P4 6EC XMU_418045
Derivatives P4 6EC E_FIN_DER
Empirical Transport Economics P4 6EC E_STR_ETE
Environmental Economics P4 6EC E_STR_EEC
Globalization, Growth and Development P4 6EC E_EC_GGD
Industrial Organization and Competition Policy P4 6EC E_EC_IOCP
Institutional Investments and Asset Liability Management P4 6EC E_FIN_IIALM
Labour Economics P4 6EC E_EC_LABEC
Urban Economic Challenges and Policies P4 6EC E_STR_UECP
Stochastic Integration P4+5 8EC X_400470
Time series P4+5 8EC X_400571
Data Mining Techniques P5 6EC X_400108
Quantitative Financial Risk Management P5 6EC E_FIN_QFRM
Advanced Microeconomics
P1 | 6EC | E_EC_AMIEC
Asset Pricing
P1 | 6EC | E_FIN_AP
Combinatorial Optimization
P1 | 6EC | E_EORM_COPT
Evolutionary Computing
P1 | 6EC | X_400111
Large Scale Data Engineering
P1 | 6EC | X_405116
Marketing Strategy
P1 | 6EC | E_MKT_MSTRAT
Public Economics and Policy
P1 | 6EC | E_EC_PEP
Stochastic Processes: the Fundamentals
P1 | 6EC | E_FIN_SPFUN
Dynamical Systems
P1+2 | 6EC | X_400637
Functional Analysis
P1+2 | 8EC | X_400328
Measure Theoretical Probability
P1+2 | 8EC | X_400244
Advanced Macroeconomics
P2 | 6EC | E_EC_AMAEC
Digital Marketing
P2 | 6EC | E_MKT_DM
Economics of Climate Change
P2 | 6EC | E_STR_ECC
Economics of the Welfare State
P2 | 6EC | E_EC_EWS
Financial Markets and Institutions
P2 | 6EC | E_FIN_FMI
Geographic Information Systems
P2 | 6EC | E_STR_GIS
Macroeconomic Policy in the EU
P2 | 6EC | E_EC_MPEU
Microeconomics for Development
P2 | 6EC | E_EC_MED
Optimization under Uncertainty
P2 | 6EC | E_EORM_OPTU
Regional and Urban Economics
P2 | 6EC | E_STR_RUE
Stochastic Processes for Finance and Derivatives Markets
P2 | 6EC | E_FIN_SPFDM
Transport Economics
P2 | 6EC | E_STR_TREC
Web Data Processing Systems
P2 | 6EC | XM_40020
Behavioral Operations Research
P4 | 6EC | E_EORM_BOR
Branding and Advertising
P4 | 6EC | E_MKT_BA
Computational Finance
P4 | 6EC | XMU_418045
Derivatives
P4 | 6EC | E_FIN_DER
Empirical Transport Economics
P4 | 6EC | E_STR_ETE
Environmental Economics
P4 | 6EC | E_STR_EEC
Globalization, Growth and Development
P4 | 6EC | E_EC_GGD
Industrial Organization and Competition Policy
P4 | 6EC | E_EC_IOCP
Institutional Investments and Asset Liability Management
P4 | 6EC | E_FIN_IIALM
Labour Economics
P4 | 6EC | E_EC_LABEC
Urban Economic Challenges and Policies
P4 | 6EC | E_STR_UECP
Stochastic Integration
P4+5 | 8EC | X_400470
Time series
P4+5 | 8EC | X_400571
Data Mining Techniques
P5 | 6EC | X_400108
Quantitative Financial Risk Management
P5 | 6EC | E_FIN_QFRM
Master Econometrics and Operations Research - Track Operations Research - Specialization Financial Engineering
Description
There is a growing interest in the financial world in instruments for
financial engineering and computational finance. Next to the 4 core
Operations Research courses, you take at least 2 courses from the
Duisenberg Honours Programme Quantitative Risk Management.
Master EORM - Operations Research - Optional courses
Description
Choose 1 course from the list, or an additional specialization course.
Master Econometrics and Operations Research - Track Operations Research - Specialization Operations Research Theory
Description
With this track you deepen your knowledge and understanding of the
research area and eventually, through the thesis, participate in front-
line research in Operationns Research. Next to the 4 core Operations
Research courses, you select at least 2 6ects-courses from the program
offered by the Dutch Network on the Mathematics of Operations Research
(LNMB, Landelijk Netwerk Mathematische Besliskunde). The LNMB-courses
are taught by the best researchers in Operations Resarch from all over
the Netherlands in centrally located Utrecht.
Master EORM - Operations Research Theory - Specialization courses
Description
Choose 2 courses at LNMB, with a total of at least 12 EC. For more
information about LNMB, see
http://www.lnmb.nl/pages/courses/mastercourses.

Choose courses from this list:
- Continuous Optimization (Period 1+2, 6.0 EC)
- Discrete Optimization (Period 1+2, 6.0 EC)
- Heuristic Methods in Operations Research (Period 1+2, 6.0 EC)
- Advanced Linear Programming (Period 4+5, 6.0 EC)
- Queueing Theory (Period 4+5, 6.0 EC)
- Scheduling (Period 4+5, 6.0 EC)
Master EORM - Operations Research - Optional courses
Description
Choose 1 course from the list, or an additional specialization course.
Master Econometrics and Operations Research - Track Operations Research - Specialization Supply Chain Management
Description
Researchers and lecturers in Logistics and Supply Chain Management speak
the language of optimization theory. The field continues providing
Operations Research with new and challenging research questions and
remains one of the major areas for the job market of our program’s
graduates.Next to the 4 core Operations Research courses, you take at
least 2 courses from the Master Program Transportation and Supply Chain
Management.
Master EORM - Operations Research - Optional courses
Description
Choose 1 course from the list, or an additional specialization course.
Master Econometrics and Operations Research - Open Specialization Operations Research
Master Econometrics and Operations Research - Open Specialization Operations Research - optional
Description
Choose 3 courses from the list.
Course Name Period Credits Code
Advanced Econometrics P1 6EC E_EORM_AECTR
Advanced Microeconomics P1 6EC E_EC_AMIEC
Asset Pricing P1 6EC E_FIN_AP
Large Scale Data Engineering P1 6EC X_405116
Marketing Strategy P1 6EC E_MKT_MSTRAT
Stochastic Processes: the Fundamentals P1 6EC E_FIN_SPFUN
Econometrics for Quantitative Risk Management P1+2 6EC E_FIN_EQRM
Advanced Macroeconomics P2 6EC E_EC_AMAEC
Multivariate Econometrics P2 6EC E_EORM_MVE
Stochastic Processes for Finance and Derivatives Markets P2 6EC E_FIN_SPFDM
Transport Economics P2 6EC E_STR_TREC
Web Data Processing Systems P2 6EC XM_40020
Financial Econometrics Case Study P3 6EC E_EORM_FECS
Marketing Data Case P3 6EC E_EORM_MDC
Research Project Economics P3 6EC E_EC_RPEC
Econometrics Research P3+4 6EC E_EORM_ECR
Branding and Advertising P4 6EC E_MKT_BA
Derivatives P4 6EC E_FIN_DER
Institutional Investments and Asset Liability Management P4 6EC E_FIN_IIALM
Time Series Models P4 6EC E_EORM_TSM
Honours Programme Operations Research
Description
For talented and ambitious students the master’s programme offers an
extra opportunity to distinguish themselves with the MSc Honours
Programme Operations Research. This Honours Programme allows master’s
students to broaden and deepen their knowledge on state-of-the-art
operations research techniques.

The programme has a study load of 18 EC and consists of two master’s
courses from the program of the LNMB (6 EC per course) and the 'OR
research seminar' (6 EC) organized by the OR-group of the department of
Econometrics and Operations Research at VU University. The LNMB provides
a great variety of high-level courses on deterministic and stochastic
operations research. Students can choose LNMB master’s courses
according to their interest. The OR research seminar will run from
September to April. Form and contents of the OR research seminar will
depend on the students interests and ambitions. The aim of this seminar
is to train students to write a PhD grant proposal enabling them to
continue their studies as a PhD.

The honours programme is successfully completed if the student has
finished the master’s programme within one year and, in addition, has
successfully finished all courses of the honours programme. The
successful completion of the honours programme will be recorded in the
Diploma Supplement.
Honours Programme Operations Research - Optional courses LNMB Utrecht
Description
Choose courses at LNMB, with a total of at least 12 EC. For more
information about LNMB, see
http://www.lnmb.nl/pages/courses/mastercourses.

Choose courses from this list:
- Introdcution to Stochastic Processes (Period 1, 4.0 EC)
- Continuous Optimization (Period 1+2, 6.0 EC)
- Discrete Optimization (Period 1+2, 6.0 EC)
- Heuristic Methods in Operations Research (Period 1+2, 6.0 EC)
- Scheduling (Period 4+5, 6.0 EC)
- Advanced Linear Programming (Period 4+5, 6.0 EC)
- Queueing Theory (Period 4+5, 6.0 EC)