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Master Economics Presented by Sjak Smulders
Program coordinator Elly Klijsen
Program director Sjak Smulders
Contact persons
Overview
• What is Economics – What do Economists do?
• The MECO program in detail
Master Economics 3 3-4-2014
What is Economics?
• How do consumers and firms make decisions?
• What are the impacts for markets and policy?
• “Allocation”: unemployment, exports, innovation
• “welfare”: profits, income, growth, happiness
• “efficiency”: market failures, crises, distortions, policies
• Mainly a social science
• With serious quantification (validation, prediction?)
Master Economics 4 3-4-2014
• Analyze and advise
• Quantify and assess
• In firms
• In financial institutions
• For policy makers
What do Economists do?
Master Economics 5 3-4-2014
Examples of first jobs of our alumni:
• Consultant
• Analyst in International Affairs
• Business Analyst
• Consultant Innovation & Finance
• Policy Advisor
• Rating Analyst
• Teacher
First Jobs of our Graduates (2009-2013)
University and research
Government
Financial sector
Private companies (non-financial)
Non-profit
Alumni MSc Economics (2009-2013)
What do Economists do?
Master Economics 7 3-4-2014
Tilburg
MECO
Deloitte, Rotterdam
Rembrandt Fusies
en Overnames
Panteia, Zoetermeer Innovator at TNO
Delft
SEO Economic
Research, R’dam Policy 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
Rabobank Van 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
What will future jobs look like?
According to recent book by Brynjolfsson and McAffee (2014), The Second Machine Age:
• Not… truck drivers, doctors, or accountants,
• But… creative, flexible, and social workers.
http://www.ted.com/talks/andrew_mcafee_what_will_future_jobs_look_like
http://www.volkskrant.nl/wca_item/boeken_detail/453/264461/The-Second-Machine-Age.html
Master Economics 8 3-4-2014
MSc Economics at
Tilburg
International Economics and Finance
Pensions, Aging and Retirement
Competition and regulation
Resources, Development and Growth
Socio-economic policy
Financial Institutions
Pension funds
Consultancy
NGOs, International
Agencies
Public Policy
Specialization tracks in MECO program
Skill – focus of our program
• Professional practice
• Economic analysis
• Sound background in theory and empirics...
• But the aim is applying and using this
• Data analysis
• Policy analysis
• Presentation skills
• Creativity
Structure of the
Master’s program
At least 60 ECTS:
• September:
• Applied Methods for Economists (6 ECTS)
• October – Xmas – March
• 6 courses (36 ECTS)
• from track and with some electives
• Thesis
• (possibly in combination with traineeship)
• (18 ECTS)
Requirements to graduate
Game Theory and Industrial Organisation
International Competitiveness
Competition Policy
Competition and Regulation in Network Industries
Public Economics
Labour Economics.
Development and Growth
Environmental Economics
Taxation
Financial Economics
Financial Markets and Institutions
Corporate Governance
Investment Analysis
Generational Economics
Eco&Psy of Risk Time and Social Norms
The Course – Specialization Matrix
IEF PAR Comp Dev Pol
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Economics at Tilburg:
Examples
Traineeship - Example
Eva Maria Bille
UN, Beirut
Master Economics 16 3-4-2014
Traineeship - Example
Eva Maria Bille
I am currently in Beirut where I am working for the United Nations Secretariat's Economic and Social Commission for Western Asia (ESCWA). I am working in the Social Development Division (SDD) in the Inclusive Social Development Section (ISDS). Acronyms are really a thing here...
I get to my office through the 2 security checks at around 9 in the morning, and am greeted with the flags of the Arab countries waving in the warm Lebanese weather and the UN flags flanking the glass doors. I have my own cubicle with my name on the door, a computer and a phone.
The United Nations is a great place to do an internship, because you get close to the real policy makers, and you have an opportunity to see how theories can and have been applied in real life contexts. I was given a lot of freedom in choosing my research topic, and my supervisors are hoping to publish what I write at the end of my internship. It is so rewarding to be writing something that will in one way or the other be presented to policy makers in the region.
I also participate in meetings and preparations of other reports, but I have not been asked to make copies or coffee or any other "typical" intern duties.
I am very happy with the opportunity for research affiliation and guidance, access to data and relevant topics, as well as getting to know the organisation from the inside. Tilburg University showed great flexibility when I decided to go here, and I feel like there is definitely a link between what I learned and what I am doing.
Master Economics 17 3-4-2014
THESIS AWARD QFAS ECONOMICS CERTIFICATE
COMMUNICATION ASSET RETIREMENT
PUBLIC SECTOR
EME LANS BOVENBERG HEALTH COMPANY VISITS
RELEVANCE
Netspar track GUEST LECTURES PENSION DESIGN 67?
FINANCE AGING HOT TOPIC BROAD PERSPECTIVE JUNIOR
PENSION DAY
PENSION INDUSTRY 8 UNIVERSITIES
INTERNSHIP Subscribe on Blackboard
Strong network,
connecting pension practice and science
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Universities Pension industry Public sector
What is in it for you?
• Contact with Netspar’s partners:
• (guest) lectures
• company visits
• internship program
• Newsflash
• Special activities like workshop in January
• Junior Pension Day in June (master thesis)
• Netspar Thesis Awards
• Netspar certificate with your diploma
• Special Asset activities
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Entry requirements
• Unconditional admission for students with Bachelor’s degree in
Economics or Economie and Bedrijfseconomie (EBE)
• Other programs: premaster might be needed
• Example: liberal arts colleges
• See advised 3rd year courses in ‘Program Description’ (on ESG).
For Tilburg students:
http://feweb.uvt.nl/pdf/2011/DoorstroomBachelor2011-2012_def.pdf
Other Dutch universities:
http://www.tilburguniversity.edu/education/masters-programmes/economics/application/
Entry Requirements
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Solid background in
• Macroeconomics; Microeconomics
• Mathematics; Statistics
• Game Theory, Industrial Organisation
Knowledge is also required in at least one of the following areas:
• Labour Economics
• Environmental Economics
• Public Economics
• Development Economics
• International Economics (i.e., both International Trade and International Finance)
• European Economics
• European Financial and Monetary Integration
http://www.tilburguniversity.edu/education/masters-programmes/economics/application/
Entry Requirements
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For international students:
• Bachelor’s degree in economics from a university recognized by
Tilburg
• Proficiency in English (TOEFL)
• Top 33% of GRE test
• Level playing field ensured via extra reading material prior to entry.
Entry Requirements
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http://www.tilburguniversity.edu/nl/onderwijs
/masteropleidingen/economics/
www.tilburguniversity.edu/AskTiSEM
Further information
Master Economics
Student perspective Joost Slabbekoorn
Track: Pensions, Aging and Retirement
Courses (1st semester):
• Applied Methods for Economists (crash course in econometrics and mathematics)
• Seminar Generational Economics
• Seminar International Competitiveness
• The Economics and Finance of Pensions
• Investment Analysis
Courses (2nd semester):
• Seminar Financial Markets and Institutions
• Seminar Economics and Psychology of Risk, Time and Social Norms
• Master Thesis
My Courses
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• More emphasis on scientific papers and less on
textbooks
• More advanced and specialized topics
• Courses build on previous knowledge
• Higher workload
• Many presentations/assignments/writing papers
Bachelor versus Master
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Bachelor versus Master
• More interactive and smaller classes
• Typical class size: 20-25 students
• Different exam structures
• Can be written, oral or a paper
• Much more discussion and challenged to think
critically
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Part A:
General theory of Overlapping Generations model (OLG)
• General lectures (theory)
• Theoretical and lots of math
• What is the effect of aging on the economy?
• Assignments
Part B:
Developments and issues in Pensions
• General lectures (theory)
• More practical than part A
• Very interactive: student presentations of papers
• Assignments + writing a paper
Course Example: Seminar Generational Economics
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Generational Economics:
- A set of questions where you derive a variation of a model discussed
in class
Financial Markets & Institutions:
- Write a policy report with recommendations with respect to the ‘This
Time Is Different Syndrome’
International Competitiveness:
- Use dataset given to you to empirically test the implied inverse U-
shaped relation between competition and innovation
Example of assignments
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Many academic and non-academic skills!
• Analytical skills (eg. text and data)
• Making sense of things you observe
• Being critical towards information you get
• Work with high workload and tight deadlines
• Cooperating with (international) group members
All useful skills for your future career!
Which skills do you learn in the MSc Economics?
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When should you choose Economics?
If you are interested in how things work
• Functioning of markets
• Factors that drive behavior (both rational and
irrational!)
• Differences in economic performance of
countries
• Why certain institutions (eg insurance, pension
funds, regulators) are there
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