MSc Economics
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MSc Economics Personalizing your Expertise and Experience in Economic Analysis
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MSc EconomicsPersonalizing your Expertise and Experience in Economic Analysis
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Academic Director Dr. Jens Prüfer
Program Coordinator Yvonne van Hapert
AskTisem [email protected]
Contact persons
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Academic Director Dr. Jens Prüfer
Former Academic Director
Dr. Sjak Smulders
Program Coordinator Yvonne van Hapert
AskTisem [email protected]
Contact persons
The Tilburg Ambition
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The Tilburg MSc Economics in a Nutshell
The program
• About 90 students (20 February + 70 September), 50% non-Dutch
• 6 tracks, 20 courses, 20+ professors
• One degree: Master of Science in Economics
• Key characteristics:
1. small scale (about 30 students in most courses)
2. personalizable, lots of choice
3. taught by internationally reputed economics professors (Center for Economic Research is top-5 Europe and top-20 in world in research)
• Keuzegids 2017: “Best MSc Economics program” (shared) in NL (out of 9)
This is a program for highly ambitious students. Lecturers will be a expecting a lot from you --- and you will get a lot in return.
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Ambition of the program
Background: Economics is not a subject of analysis per se, it is a toolkit!
• Methods: game theory, econometrics, experiments, simulations, …
• Key concepts: Rational choice (& behavioral additions), equilibrium, optimum, marginal analysis, …
• Applications to questions from the economy (e.g. financial crisis, competition policy) and beyond (e.g. social norms, privacy)
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Economics as a toolkit
Examples
• New protectionism
• “We only buy your cars, if you also buy our cars”
• Realtors, housing market
• Time to market
• Search sites
• Energy Efficiency labels housing prices
• Selling a MSc Program
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Goal of the program
We want to teach you
• How to master economics,
• How to do theory-proof, evidence-based economic analysis,
• With a unique balance between experience and expertise: Career oriented.
• Entry requires 66 ECTS in micro/macro/math/statistics/applications
• Pre-master program (up to 30 ECTS) only for university graduates
• No specific micro/macroeconomics course in program!
• High bar allows focus on improvement of methods & expertise building
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How to improve your knowledge and expertise?
Improve your methodological knowledge
• Courses in game theory, econometrics, experiments & surveys
Learn to apply economic theory
• All 13 seminar courses contain assignments, cases, or papers, where you have to work on current economic problems
Develop your professional skills
• Two dedicated courses for skills development
• All seminar courses: class discussions, statistical analyses, (team) papers and presentations, etc.
Maximum flexibility: Fully personalize your program or choose one of 6 coherent tracks!
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Professional and academic skills development
• Applied Economic Analysis 1 & 2: • Mandatory, weekly meeting of entire cohort• “Heart” of the program• Combines career counseling & info on labor markets for
economists, with guest lectures, training of communication skills and on using open source software
• Academic skills: how to develop, work on, and write a paper (= master thesis)
• Data analysis• Policy analysis• Presentation skills• Professional practice (ASSET-organized events as part of AEA)
Structure of the MSc Economics program
Program structure
EXPERTISE
EXPERIENCE
Methods courses Methods courses
Field courses (seminars)
Field courses (seminars)
Project work and Thesis
20%
50%
30%
1 year
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Courses: numbers and workloads
• Methods 3x3 ECTS
• Seminars and electives 5x6 ECTS• Applied Economic Analysis 2x3 ECTS• Thesis
15 ECTS
total 60 ECTS
Total group size: 60-80 students
Average class size in seminars: 25 students
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Not losing track…
• Six tracks
• Idea behind tracks: offer a bundle of coherent courses related to one topic, which still allows for some flexibility
• Alternative: completely personalize your program!
• Compulsory: 1-3 methods courses + 2-4 seminar courses per track
• Further electives from MSc Economics courses + 1 Free Elective + potentially electives from other MSc programs (depends on track)
• Write MSc thesis on topic from track
• Get track name on degree certificate
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Course List and Specialization Tracks
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• Applied Economic Analysis 1 & 2: Sjak Smulders
• Econometrics 1: Ben Vollaard
• Econometrics 2: Otilia Boldea
• Game Theory 1: Wieland Müller
• Game Theory 2: Florian Schütt
• Experiments and Surveys: Eline van der Heiden
• Innovation and Networks: Bert Willems & Jens Prüfer
• Economics and Psychology of Social Norms and Strategic Behavior: Jan Potters
• Financial Markets and Institutions: Burak Uras & Harald Benink
• Generational Economics: Lex Meijdam & Eduard Ponds
Our professors (2016-17)
• Growth and Regional Development: Sjak Smulders
• Taxation: Harry Huizinga
• The Economics and Finance of Pensions: Roel Mehlkopf & Casper van Ewijk
• Competition Policy: Eric van Damme & Cédric Argenton
• Economics and Psychology of Risk and Time: Gijs van de Kuilen
• Environmental and Resource Economics: Daan van Soest
• Financial Economics: Michiel Bijlsma
• Health Economics: Peter Kooreman
• Labor Economics: Daniel van Vuuren
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Seminar Environmental and Resource Economics• Weeks 1-3: lecturer gives overview
of field (based on journal articles)
• Weeks 4-9: students present papers (list of topics + introductory literature provided) + wrap-up of lecturer
• Fellow students prepare ≥ 1 question for discussion of every topic
• Evaluation:
• contributions to discussions (10%)
• presentations (30%)
• exam (60%)
Typical course setups
Seminar Innovation and NetworksPart I: Economics of Network Industries • Week 1: Lectures (based on articles)• Week 2: Lab Sessions: Modelling a
competitive market • Week 3: Market game: Auctioning of
electricity portfolio among “firms” (in teams)• Weeks 4/5: Lectures & discussion of market
game
Part II: The Law & Economics of Innovation• Weeks 5-8: Lectures (based on
textbook/articles) + weekly policy discussion on current topics (newspaper-based)+ students prepare presentations (in teams)
• Week 9: Guest lecture + student presentations
Evaluation:• Assignments & participation (30%)• Written exam (70%)
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Electives from other MSc Programs
• Electives from other MSc programs at TiSEM
• Usually approved, but your total course list needs to have an economics focus (rather than business)
• Electives from MSc programs outside TiSEM
• maximal 1 and only if it fits in your total course list
• For those contemplating about a research career:
• Possible to take one RM (research master) course as free elective if passed and later entry into our RM, get waiver for course!
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MSc Thesis – What is it?
• 15 ECTS + 3 ECTS thesis proposal writing in AEA 2
• Type: combination of “applied” and “academic”
• Should be written on a relevant economic question (broadly defined)
• Can include data work
• Can be (extension of) theoretical model
• In special cases: can be qualitative work or extensive literature review
• Builds on and requires knowledge acquired in courses
• Think ahead! Thesis title is printed on your diploma signaling for labor market
Career perspectives
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Career perspectives
• National Alumni Enquete (fall 2016) on Tilburg’s MSc Economics:
• Time between graduation and first paid job: 56%: 1 month; 82%: 3 months
• Most graduates found job in industry, trade, transport, financial services, or with the government
• 87% have a permanent job contract or expect to get tenure soon
• Average gross income p.m.: EUR 2542
• 95% are (very) satisfied with the Master program
• 73% agree (very) strongly that the Master prepared them well for professional life
• More details: https://www.tilburguniversity.edu/education/masters-programmes/economics/career/
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• About 25% of our recent graduates works abroad
• Recent international graduates:
• Business Data Analyst at ABN AMRO Bank
• Analyst at Accenture
• Pensions Strategist at APG
• Economist at Bank of England
• Advisor at Bank of Portugal
• Economist at Central Bank of Malta
• Business Analyst at Deloitte
Recent international graduates
• Trade Finance Officer at ICBC
• Consultant at KPMG
• Junior Analyst at National Bank of Hungary
• Consultant at The World Bank
• PhD Candidate in Economics at Tilburg University
• Economist at Towers Watson
• PhD student at Trinity College Dublin
• Financial Business Analyst at Unilever
What do Economists do?
Tilburg MECO
Deloitte, Rotterdam
Rembrandt Fusies en Overnames
Panteia, ZoetermeerInnovator at TNO Delft
SEO Economic Research, R’damPolicy advisor,
Govt of Curacao
Aethon Personeelsservice
Ministerie EZ
Raven Consulting
ECORYS, Rotterdam
Adviseur MVO en Duurzaamheid Ethincon
Delta Lloyd Amsterdam
Beleggingsadviseur SNS Utrecht
Autoriteit Consument en Markt, Den Haag
Máxima Medisch Centrum
DNB
Theresia lyceum Tilburg
ABN-Amro
RabobankVan Lanschot
Research Analyst, WorldBank
Brand Loyality
Central Bank of Turkey
CPB
Turkish Competition Authority, Ankara
South African Reserve Bank
Fujifilm Manufacturing Europe
Bulgarian Photovoltaic Association
Inter American Development Bank
Zwijsen College
PostNL
Ministerie van Sociale Zaken en Werkgelegenheid
PricewaterhouseCoopers PwC
Nationale-Nederlanden
Steward Redqueen
Energiedirect.nl
European Commission
IBM Nederland
Bain Capital, London
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Alumni
Master Economics Student perspectiveDian van Rooi
2602-05-2023
Past:
• Bachelor “Economie en Bedrijfseconomie” at Tilburg University
• Exchange to Seoul, South-Korea
• Chairman study association Asset | Economics(and Treasurer Asset)
Present:
• Money, Banking &Financial Institutions track (and Sustainability and Growth)
• Author Blog Committee Asset | Economics
About me
Track Competition and Regulationr
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1st semester: • Econometrics 1• Experiments & Surveys• Game Theory 1• Game Theory 2
2nd semester:• Econometrics 2
• Master Thesis
My Courses
• Financial Market & Institutions• Growth and Regional
Development• Innovation and Networks
• Financial Economics• Environmental and Resource
Economics• Labor Economics
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What is a typical week in the MSc Economics?
Time Monday Tuesday Wednesday8.009.00
Group Meeting Growth& Regional Development Game Theory 210.00
Group meeting Game Theory 211.00
Group meeting Game Theory 2Group meeting Applied Economic Analysis 1
12.0013.00
Innovation&Networks14.00 Group meeting Game Theory 215.00
Financial Markets&InstitutionsApplied Economic Analysis 1
Growth & Regional Development16.0017.00 Group meeting Game Theory 2 Help with bookkeeping - Asset18.00
Dinner with Friesland Campina - Asset
Writing Blog Article - Asset | EconomicsPhotoshop workshop - Asset | Economics
19.0020.00
Meeting VvTE21.00Time Thursday Friday Saturday
Sunday
8.009.00
Help with bookkeeping - Asset Innovation & Networks Making minutes VvTE10.0011.00 Read papers Financial Markets &
InstitutionsBlog meeting Asset | Economics
Watching videos Innovation& Networks
12.00
Making slides for this presentation13.00
Party cousin
14.00 Read Growth & Regional Development15.00
Financial Markets & Insititutions Meeting VvTE16.0017.00
Growth & Regional Development18.0019.00
Dinner and going out Dinner and going out20.0021.00
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• Econometrics 1o Focus on research design/ methodso How can you interpret your quantitative analysis in a causal
way?
What is the content?
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• Innovation and Networks
What is the content?
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• Financial Markets & Institutions
What is the content?
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• Financial Markets & Institutions
o Research proposalso Guest lecture on Asset Management
Example of assignments/ class “specials”
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• Growth and Regional Development
o Modelling Assignment & Policy Project:
o Develop a model regarding educationo Analyse effectiveness of education programmes
Example of assignments/ class “specials”
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• Labor Economics
o Analyze a dataset and come with your own advice based on theory, data, and empirical research
o Guest lecture by Jonneke Bolhaar (CPB) and Jan-Maarten van Sonsbeek (Min. Social Affairs and Employment)
Example of assignments/ class “specials”
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• Flexibility in creating the Master’s Degree you want
• Many courses to choose from
• Approachable professors
• International classroom
• Small classes
• Applied teaching
• Renowned University
Why did I choose this Master & Tilburg?
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• Faster pace and higher workload
• Applied
• More hands-on/ practical
• Guest lectures
• More emphasis on assignments/ projects
• Reading of academic papers
• You can make it as specialized as you want
Bachelor vs. Master
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When should you choose Economics?
If you are interested in:
• Not only business-related questions but also policy questions
• Functioning and failure of markets
• Reasons behind patterns of economic behavior
Why people choose Economics:
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