Econometrics and Operations Research

Solving big issues using mathematics and statistics, in a smart way
Kwaliteitszegel_topopleiding_2018_Top rated programme in Keuzegids Universiteiten 2018
The programme has been rated as one of the best Bachelor’s programmes in the Netherlands! Econometrics and Operation research is therefore given the distinction 'top rated programme' in the Keuzegids Universiteiten 2018. Students and education experts are especially enthusiastic about the quality of the study guidance, attainability, and the course content.

Mathematics, Statistics, Economics and Computer Science is a single programme!

Do you have an analytical mind? Do you find it an exciting challenge to translate the abstraction of mathematics and statistics into solutions for real problems? Do you have a practical nature and would you like to put it to use to solve the big issues in society? If so, the bachelor's programme in Econometrics and Operations Research could be right for you. The programme involves solving problems using insights from:

  • mathematics
  • statistics
  • economics
  • computer science

During the programme, you will gain in-depth theoretical knowledge of econometrics and operations research as well as develop practical skills. You will learn to quantitatively formulate and analyze questions from economic practice by developing models that can be used to interpret data, particularly ‘big data’. You will also learn to develop software to find the most efficient solution to the problem at hand. For instance, you might develop a model that can:

  • determine the effects of an interest rate cut by the European Central Bank on employment
  • portray the risk scenarios of an investment strategy
  • create the optimal schedule for the Dutch railways
  • find optimal routes to navigate (roads or) other types of networks

Excellent study environment
Econometrics and Operations Research at VU Amsterdam is a small-scale programme. You can always count on personal guidance by senior students and instructors, and on expert lectures. You will attend mathematics lectures given by mathematicians, learn programming from computer scientists and attend economics lectures given by our top economists. You will also participate in integration practicals, in which you can apply the material from various courses to interesting case studies in a practical and coherent way. This makes the theory really come to life and optimally prepares you for professional practice.

Best programme in this field of study
In the 2017 and 2018 National Student Survey, students of the bachelor’s programme in Econometrics and Operations Research at VU Amsterdam assessed our programme as the best in its field of study! 

Looking further as an econometrist

VU is looking further. As an Econometrics and Operations Research student, the latest insights from the interdisciplinary VU research theme Governance for Society will be integrated into your curriculum. You will learn to look at problems from various disciplinary perspectives in order to develop complete and effective solutions. For example, you might develop a model involving multiple disciplines that: 

  • describes movements in the market (finance), including the diversity of trade constructions and the high pace of the transaction process (economics) 
  • predicts future demand for a treatment (healthcare) at a hospital and determines the optimal number of beds that will maximize the level of service (operations management) while staying within budget (economics)

Want to become an econometrist? Come to a Taster Day

If you think you might like to become an econometrist, then come to a Taster Day and get a feel for whether the programme is right for you. During the Taster Day at the VU campus in Amsterdam, you can get to know the study, the students and the city.

When you graduate, you will earn the title Bachelor of Science in Econometrics and Operations Research. Most of our students immediately follow up with a master’s degree. This allows you to further specialize in this field and gives you an even greater advantage in the labour market. Our faculty offers a broad range of Master’s programmes

If you would like to go straight into the job market, your ability to combine mathematics, statistics, economics and computer science to solve problems will make you quite popular with employers. You could work in a variety of jobs, depending on the discipline you focus on in your third year.

Econometrics
With Econometrics, you will be able to model and analyze economic developments, at a macro level as well as at a micro level. Many econometrists therefore work in institutions such as: 

  • banks
  • consultancy companies
  • pension funds
  • hedge funds
  • ministries of economics and finance
  • policy agencies
  • market research companies

Operations Research
With Operations Research, you will be a quantitative specialist in logistics (inventory management, routing, scheduling problems) or in analyzing complex networks (computer systems, internet and social networks). Recently, financial institutions have experienced an increased need for operations researchers. Many graduates end up at: 

  • major trading companies
  • transport companies
  • financial institutions 
  • consultancy companies

Mathematical Economics
With Mathematical Economics, you can start working with government agencies, such as the Netherlands Bureau for Economic Policy Analysis. Or you can also make a difference in business, for example, at a telecom company, where you can determine the best pricing for subscriptions.


VU Matching is mandatory for the Econometrics and Operations Research programme. It consists of completing a digital questionnaire and participating in the matching activity. You can participate in the matching activity in person on May 31 or June 1 (you can choose) or, in some cases, online.

The activity will give you a realistic impression of the bachelor’s programme, allowing you to experience whether the programme matches your expectations and abilities. If you do not participate in the matching activity, you cannot register for the programme. After the activity is completed, you will receive a personal recommendation.

This recommendation is not binding unless you apply after May 1. Please note that you will only receive an invitation to participate once you have applied for the programme via Studielink AND have logged in to VUnet. Please read more detailed information here.

Admission criteria for international applicants
Applicants holding a pre-university diploma from another country must meet a number of requirements: 

1.       A diploma equivalent to the Dutch pre-university ‘VWO’ diploma
2.       Proof of sufficient proficiency in Mathematics
3.       Proof of sufficient proficiency in English

You are allowed to have a deficiency regarding these criteria at the time of application but the criteria should be fully met before the start of the programme. 

Mathematics
Examples of diplomas that demonstrate sufficient proficiency in Mathematics are:

  • International Baccalaureate: Mathematics Higher Level
  • UK: Mathematics A levels
  • Germany: Zeugnis der allgemeinen Hochschulreife, including Mathematics as Leistungsfach.

After you apply to the programme and upload the required documents in our Student Portal VUnet, the admission officer will have a look at your transcripts to determine whether your mathematics level is sufficient. If your proficiency in mathematics is considered to be insufficient, you will need to pass an entry test in mathematics.

Mathematics exams in the Netherlands

Both Boswell-Bèta and CCVX offer the mathematics B entry exam. The Boswell-Bèta Institute offers summer courses in the months June and July.

Mathematics exams abroad

  • Cambridge International A-levels 
  • Another option is to take an A-level mathematics exam at a registered Cambridge school. Please check here to find the nearest Cambridge school in your country.

Proof of sufficient proficiency in English
International applicants must take an English language proficiency test and submit their scores before 31 August 2018. Applicants who have completed their education in Canada, the USA, the UK, Ireland, New Zealand or Australia are exempt from this requirement, as are those who have obtained an International Baccalaureate or European Baccalaureate diploma (English-taught programmes only).

We accept the following tests and minimum scores:

  • IELTS: 6.5
  • TOEFL paper based test: 580
  • TOEFL internet based test: 92
  • Cambridge Advanced English (CAE): A, B or C
  • Cambridge Certificate of Proficiency in English (CPE): A, B or C

If you are already in the Netherlands, you can also register for a TOEFL test at VU Taalloket. Please note however that this test is only valid at VU Amsterdam. We only accept language tests that have been completed max. 2 years ago, counted from the date you start the Econometrics and Operation Research programme.

Nuffic Certificate for Chinese students 
Chinese students who wish to enroll in an English-taught programme at a Dutch higher education institution are required to apply for a Nuffic Certificate. Nuffic sends this certificate directly to the relevant Dutch higher education institution once it has been issued. More information on the Nuffic Certificate for Chinese students

Start September 2018?
Do you want to start the Econometrics and Operations Research programme in September 2018? Make sure to apply before the deadline of 1 May 2017! You are able to apply from 1 October 2017 via www.studielink.nl. After that you will receive a VUnet ID and password (in two separate emails). Be sure to complete your application in our Student Portal VUnet by uploading all the necessary documents.

International Student Advisor: 
Ester de Koning 
Tel: + 31 (0) 20 598 2508 
E: bachelors.sbe@vu.nl

Prefer to ask your questions to a student? 
Or do you want to make a personal appointment to spend a day with an Econometrics and Operations Research student? Send an e-mail to info@kraket.nl, and the board members of the study association Kraket will match you with a student.

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How will you be spending your time?

The bachelor's in Econometrics and Operations Research is a three-year programme. The courses are taught by experts in each field. You will follow the mathematics courses in relatively small groups and some of the economics courses in larger groups of economics students. The workshops will be held with relatively small groups of students, so you will have room for direct discussions with the instructors.

Time commitment
This is a full-time programme, so it will require about 40 hours a week, of which about 12-14 hours will be contact hours (lectures and study groups). Even though your studies will keep you busy, many of our students still find the time to have a part-time job in order to gain professional experience and help with expenses.

You will take foundational courses that will prepare you for the more advanced courses. You will also expand your mathematical knowledge, study probability and statistics and learn to program. In addition, you will get a brief introduction to the three core disciplines of the programme: 

  • Econometrics
  • Operations Research
  • Mathematical Economics

Dutch tutorials
In your first year you have the possibility to attend tutorials in Dutch.

Time commitment
Approximately 20 hours a week for lectures and study groups.


Courses
Period 1
Language test
Analysis I
Colloquium I
Introduction to Programming (Java)
Probability Theory
Linear Algebra I
Programming
Period 2
Analysis I
Colloquium I
Introduction to Programming (Java)
Probability Theory
Linear Algebra I
Period 3
Introduction to Econometrics, Operations Research and Mathematical Economics
Period 4
Analysis II
Macroeconomics I
Colloquium II
Statistics
Period 5
Analysis II
Statistics
Finance I
Colloquium II
Period 6
Academic Skills: Probability and Inference

You can find more detailed information in our study guide.

During the second year, you will follow more advanced courses on the three core disciplines. In the Econometrics course, you will start by formulating causal relationships between dependent and explanatory variables into a statistical model, then estimating unknown parameters and determining whether there are significant relationships within the model. In this way, you can determine, for example, whether the price and quality of a product significantly affect the sale of the product. In the Operations Research course, you will learn optimization theory and learn how to apply your knowledge in decision-making problems such as finding the shortest route between a large number of locations or finding the optimal re-supply policy for a warehouse. In Mathematical Economics, you will study mathematical models, for instance, regarding the strategic interaction between different auction houses. You will finish off with an integration practicum in which you can apply your acquired knowledge and skills in a number of case studies.

Time commitment
Approximately 12 hours a week for lectures and study groups.



Courses
Period 1

Operations Research I
Econometrics I
Mathematical Economics I
Numerical Methods 

Period 2

Operations Research I
Econometrics I
Mathematical Economics I
Numerical Methods 

Period 3

Integrative Practical 

Period 4

Operations Research II
Econometrics II
Mathematical Economics II
Ethics

Period 5

Operations Research II
Econometrics II
Mathematical Economics II
Ethics 

Period 6

Advanced Practical 

You can find more detailed information about the second year in our study guide.

During the first half of your third year, you will have complete freedom of choice. You can use this time to: 

  • study abroad
  • conduct an internship
  • follow a minor at the faculty
  • follow a minor at another faculty
  • fulfil the requirements for a specific master’s programme

In the second half of the third year, you will write your thesis. For your thesis, you will independently analyze a scientific article or question in the area of specialization that you choose, independently work on your own solution, and write your own report.

You can find more detailed information about the third year in our study guide.

You will take foundational courses that will prepare you for the more advanced courses. You will also expand your mathematical knowledge, study probability and statistics and learn to program. In addition, you will get a brief introduction to the three core disciplines of the programme: 

  • Econometrics
  • Operations Research
  • Mathematical Economics

Dutch tutorials
In your first year you have the possibility to attend tutorials in Dutch.

Time commitment
Approximately 20 hours a week for lectures and study groups.


Courses
Period 1
Language test
Analysis I
Colloquium I
Introduction to Programming (Java)
Probability Theory
Linear Algebra I
Programming
Period 2
Analysis I
Colloquium I
Introduction to Programming (Java)
Probability Theory
Linear Algebra I
Period 3
Introduction to Econometrics, Operations Research and Mathematical Economics
Period 4
Analysis II
Macroeconomics I
Colloquium II
Statistics
Period 5
Analysis II
Statistics
Finance I
Colloquium II
Period 6
Academic Skills: Probability and Inference

You can find more detailed information in our study guide.

During the second year, you will follow more advanced courses on the three core disciplines. In the Econometrics course, you will start by formulating causal relationships between dependent and explanatory variables into a statistical model, then estimating unknown parameters and determining whether there are significant relationships within the model. In this way, you can determine, for example, whether the price and quality of a product significantly affect the sale of the product. In the Operations Research course, you will learn optimization theory and learn how to apply your knowledge in decision-making problems such as finding the shortest route between a large number of locations or finding the optimal re-supply policy for a warehouse. In Mathematical Economics, you will study mathematical models, for instance, regarding the strategic interaction between different auction houses. You will finish off with an integration practicum in which you can apply your acquired knowledge and skills in a number of case studies.

Time commitment
Approximately 12 hours a week for lectures and study groups.



Courses
Period 1

Operations Research I
Econometrics I
Mathematical Economics I
Numerical Methods 

Period 2

Operations Research I
Econometrics I
Mathematical Economics I
Numerical Methods 

Period 3

Integrative Practical 

Period 4

Operations Research II
Econometrics II
Mathematical Economics II
Ethics

Period 5

Operations Research II
Econometrics II
Mathematical Economics II
Ethics 

Period 6

Advanced Practical 

You can find more detailed information about the second year in our study guide.

During the first half of your third year, you will have complete freedom of choice. You can use this time to: 

  • study abroad
  • conduct an internship
  • follow a minor at the faculty
  • follow a minor at another faculty
  • fulfil the requirements for a specific master’s programme

In the second half of the third year, you will write your thesis. For your thesis, you will independently analyze a scientific article or question in the area of specialization that you choose, independently work on your own solution, and write your own report.

You can find more detailed information about the third year in our study guide.

Overview Econometrics and Operations Research

LANGUAGE OF INSTRUCTION

English

DURATION

3 years (fulltime)

APPLICATION DEADLINE

1 April

START DATE

1 September

STUDY TYPE

Full-time

VWO Profile

NT of CM/EM/NG met Wiskunde B

FIELD OF INTEREST

Economics, Business and Law
Behavioural and Social Sciences
Computer Science, Mathematics and Business

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