The document provides an overview and information about several Master's programs at Tilburg University, including the MSc in Quantitative Finance and Actuarial Science, Operations Research and Management Science, and Econometrics and Mathematical Economics. It discusses requirements, course schedules, career opportunities, and contacts for each program. The document also provides information on the Netspar specialization and TiSEM career and alumni services.

1. WELCOME
Information
MSc EME, ORMS, QFAS
March 19, 2014

2. Agenda
• General information: Anja De Waegenaere (Program
Director)
• MSc Quantitative Finance and Actuarial Science:
Hans Schumacher
• MSc Operations Research and Management Science:
Ruud Brekelmans
• MSc Econometrics and Mathematical Economics:
Dolf Talman
2

3. Entry requirements
3
• Bachelor’s program Econometrics & OR
• Other background with sufficient mathematics and
statistics
• Individual deficiency program (max. 30 ECTS)

4. General schedule (Start in September)
• Fall Semester:
• 5 semester courses
• Spring Semester:
• 2 courses (semester courses or unit 3 courses)
• Master’s Thesis
(including preparation and possibly internship based)
4

5. General schedule (Start in February)
• Spring Semester:
• 5 courses (semester courses or unit 3 courses)
• Fall Semester:
• 2 semester courses
• Master’s Thesis
(including preparation and possibly internship based)
5

6. Overview
6
ECTS
Core courses (cluster A) 24
Elective 1 + 2 (cluster B) 12
Elective 3 (cluster C) 6
Master Thesis 18
total 60

7. Netspar Specialization
(Network for Studies on Pensions, Aging, and Retirement)
7
MSc Quantitative Finance & Actuarial Science
and
MSc Econometrics & Mathematical Economics
Requirements:
• Three Master Specific Courses
• Field trip(s)
• Master thesis & internship on Netspar topic
 Netspar certificate

8. Netspar
8

9. Netspar
9

10. Netspar
10

11. MSc Quantitative Finance and Actuarial Science
11
Hans Schumacher
Room K628
e-mail: j.m.schumacher@uvt.nl

12. MSc Quantitative Finance and Actuarial Science
12
Quantitative Finance:
• valuation of contracts
• investment strategy
• risk management
Actuarial Science:
• insurance
• pensions

13. Examples
13
Derivatives

14. Examples
14
Pensions

15. Examples
15
Insurance

16. QFAS Program
16
Core courses in QFAS (24-36 Ects)
• Financial Models
• Empirical Finance
• Pension System Design
• Asset Liability Management
• Dynamic Real Investment
• Issues in Finance and Insurance
Electives (6-18 Ects)
Master’s thesis (18 Ects)

17. Netspar Specialization
(Network for Studies on Pensions, Aging, and Retirement)
17
Courses:
•Pension System Design
•The Economics and Finance of Pensions
•Asset Liability Management
Field trip
Master thesis & internship on Netspar topic
 Netspar certificate

18. Actuaris AG
18
EMAS (Executive Master in Actuarial Science) is offered by
TiasNimbas (UvT Business School) together with the Dutch
Actuarial Institute.
EMAS is a 4 to 5-semester part-time program, to be followed
in combination with a job in the insurance/pensions industry.

19. Career opportunities (1)
Banks, insurance companies, traders (ABN-AMRO,
ING, Rabobank, ASR, AEGON, Interpolis, Delta
Lloyd, Achmea, Robeco, Optiver, etc.)
Pension funds (ABP, PGGM, etc.)
Regulators (DNB, AFM)
19

20. Career opportunities (2)
Consultancy firms (Mercer, Towers Watson, AON,
KPMG, PricewaterhouseCoopers, Deloitte, Ernst &
Young, ORTEC, Cardano, etc.)
Corporations and (semi)public institutions (treasury,
risk management, commodity futures, energy)
(Leaseplan, Shell, Nuon, etc.)
20

21. Career opportunities (3)
Continuation of studies
• EMAS
• Research Master (enter in 2nd year)
• PhD program
21

22. Questions?
… or visit Hans Schumacher ...
e-mail J.M.Schumacher@uvt.nl
22

23. MSc Operations Research / Management Science
23
Ruud Brekelmans
Room K532
e-mail: r.c.m.brekelmans@uvt.nl

24. MSc Operations Research / Management Science
24
• Operations Research (OR) / Management Science (MS)
… is a collection of techniques
based on mathematics and other scientific approaches
that seeks solutions to find
the “best” design or operation of a system.
• One distinguishing feature of Operations Research is that it
is not application specific.

25. Wide variety of applications
25
Vehicle routing
Inventory management
Production planning

26. Wide variety of applications
26
Cancer treatment (IMRT)
Efficient investments in dikes

27. Wide variety of applications
27
Car design
Train scheduling

28. 28
Goal
• To learn OR models and techniques
• To work with modern modelling software
• To formulate & solve practical decision problems
• To be aware of and to be able to handle non-quantitative
aspects of real-life problems

29. 29
ORMS Master Program
Core courses in ORMS (24-30 Ects):
• Operations Research and Management Science in Practice
• Simulation
• Management Science
• Nonlinear and Robust Optimization
• Dynamic Real Investment
Electives (12-18 Ects)
Master’s thesis (18 Ects)

30. Other interesting courses
 From MSc EME, QFAS
Games and Cooperative Behavior, Financial Models, …
 From other Master’s programs
Physical Distribution Management, Business Intelligence,
…
 National OR-network courses (LNMB, Utrecht)
Scheduling, Queueing Theory,…
30

31. Job opportunities
A lot of opportunities:
• Consultant at an OR center or OR department of a large firm
• Management consulting
• Management support (manufacturing, service)
• Application providers (SAP, Oracle, etc.)
• Application builders
• Solution builders
• Implementers
• Research institutes (TNO, Deltares, …)
Also in academia: Getting a PhD
31

32. Many career opportunities
OR advice centres
OR departments
OR software
Incontrol
32

33. Future for ORMS is bright …
33
Source: IDC
0
20
40
60
80
100
120
140
160
BillionUSD
Business Analytics Market Size

34. Future for ORMS is bright …
34
50-60% shortfall in
analytic scientists in the
US by 2018
Only ⅓ of 4.4 million
global analytic scientist
jobs will be filled by 2015

35. Questions?
e-mail r.c.m.brekelmans@uvt.nl
… or visit Dick den Hertog...
e-mail d.denhertog@uvt.nl
35

36. MSc Econometrics and Mathematical Economics
36
Dolf Talman
Room K517
e-mail: talman@uvt.nl

37. Econometrics and Mathematical Economics
 Quantitative analysis of economic problems
 Making explicit links between statistical
techniques and formulation of economic problems
 Giving structure to complex economic problems
using mathematical models
37

38. Examples
 Consumer behavior
 Labor market:
Minimum wages and labor supply
Unemployment duration
 Industrial organization
 Cooperative game theory
38

39. Examples (2)
 Sample selection
 Capital investment decisions
 Cost sharing problems
 Dynamic systems
 Migration and mortality
39

40. Goal of the EME master
 To learn and understand economic models
 To work with mathematical and/or statistical techniques
 To select data and information
 Recognizing complex structures
 Taking into account uncertainty and dynamic environment
40

41. EME Master’s Program
Core courses in EME (24-36 Ects)
• Dynamic Real Investment
• Empirical Finance
• Games and Cooperative Behavior
• Microeconometrics
• Panel Data Analysis of Microeconomic Decisions
• Dynamic Models and Their Applications
Electives (6-18 Ects)
Master’s thesis (18 Ects)
41

42. Netspar Specialization
(Network for Studies on Pensions, Aging, and Retirement)
42
Courses:
• The Economics and Finance of Pensions
• Panel Data Analysis of Microeconomic Decisions
• Dynamic Models and Their Applications
Field trip
Master thesis & internship on Netspar topic
 Netspar certificate

43. Possibilities after graduation
 Working for a big company
 Working for a consultancy firm
 Working for the government
 Working for a non-profit organisation
 Research Master and PhD
43

44. Working for a big company or consultancy firm
 Research and Development (R&D)
 Auctioning (telecom, petrol stations)
 Mergers and take-overs (competition)
 When to invest in capital (computers)
 Big data sets (savings, pensions)
 Role of Rotterdam and Schiphol for the Dutch
economy
44

45. Working for the government or non-profit institution
 Privatization or liberalization of markets
(electricity, telephone, railroads)
 Provision of public goods and public utilities
(health care, water)
 Labor market (minimum wage, 5 x 8 or 4 x 9,
women participation)
 Regulation and deregulation of markets
(monopoly, competition)
45

46. Questions?
… or visit Dolf Talman
e-mail: talman@uvt.nl
46

47. TiSEM Career Services
TiSEM Career Services 47
Guiding you in your career planning process
• Career Advice
• Career Workshop
• Internships
• TiSEM Career Mentor Program
Simone Hofland (K18)
Career Services Officer
013 466 4203
s.b.hoflandlokin@tilburguniversity.edu
www.tilburguniversity.edu/studentcareerservices

48. TiSEM Alumni Relations
TiSEM Alumni Relations 48
Alumni are our most important ambassadors and our goal is
to continue to support our alumni to succeed in their
professional lives by providing opportunities to
- Expand Your Future
- Knowledge
- Skills
- Network
As a student, you can benefit from the experiences of the
thousands of alumni in the network
Pam Dupont
Alumni Officer
013 466 3603
alumni-tisem@tilburguniversity.edu
http://www.tilburguniversity.edu/alumni-tisem

49. For top students
Prepare for PhD
Great Rankings
Excellent Funding
International setting
Good Job Opportunities
Top Scholars
Research Master Business or Economics
49School of Economics and Management

50. Admission & Application
50
For all students:
• Enroll via Studielink
Non-TiSEM students (who want to enroll):
• In addition, submit an application for admission
For more information, go to
www.tilburguniversity.edu/education/masters-programmes/admissionprocedure/feb/

51. Program Coordinator
51
• Program information
• Planning
• Electives
• Study skills
• Special
circumstances
• Results
• Extra curricular
activities
Marion van Heijningen

52. Questions
52
Master Sessions 20.00-20.45
• In-depth information session about specific master
Students:
• Harold van Heijst (QFAS)
• Marieke Musegaas (ORMS)
• Ruben Mak (EME)
Program Coordinator:
• Marion van Heijningen