MSc Economics

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MSc EconomicsPersonalizing your Expertise and Experience in Economic Analysis

Academic Director Dr. Jens Prfer

Program Coordinator Yvonne van Hapert AskTisem

Contact persons


Academic Director Dr. Jens Prfer

Former Academic Director Dr. Sjak Smulders

Program Coordinator Yvonne van Hapert AskTisem

Contact persons


The Tilburg Ambition

The Tilburg MSc Economics in a NutshellThe programAbout 90 students (20 February + 70 September), 50% non-Dutch 6 tracks, 20 courses, 20+ professorsOne degree: Master of Science in EconomicsKey characteristics: small scale (about 30 students in most courses)personalizable, lots of choicetaught 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.


Ambition of the programBackground: 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)


Economics as a toolkitExamplesNew protectionismWe only buy your cars, if you also buy our carsRealtors, housing marketTime to marketSearch sitesEnergy Efficiency labels housing pricesSelling a MSc Program


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/applicationsPre-master program (up to 30 ECTS) only for university graduatesNo specific micro/macroeconomics course in program!High bar allows focus on improvement of methods & expertise building


How to improve your knowledge and expertise?Improve your methodological knowledgeCourses in game theory, econometrics, experiments & surveysLearn to apply economic theoryAll 13 seminar courses contain assignments, cases, or papers, where you have to work on current economic problemsDevelop your professional skillsTwo dedicated courses for skills developmentAll seminar courses: class discussions, statistical analyses, (team) papers and presentations, etc.Maximum flexibility: Fully personalize your program or choose one of 6 coherent tracks!9


Professional and academic skills developmentApplied Economic Analysis 1 & 2: Mandatory, weekly meeting of entire cohortHeart of the programCombines career counseling & info on labor markets for economists, with guest lectures, training of communication skills and on using open source softwareAcademic skills: how to develop, work on, and write a paper (= master thesis)Data analysisPolicy analysisPresentation skillsProfessional practice (ASSET-organized events as part of AEA)



Structure of the MSc Economics program

Program structureEXPERTISEEXPERIENCEMethods coursesMethods coursesField courses (seminars)Field courses (seminars)Project work and Thesis20%


30%1 year


Courses: numbers and workloadsMethods 3x3 ECTSSeminars and electives 5x6 ECTSApplied Economic Analysis 2x3 ECTSThesis 15 ECTStotal60 ECTSTotal group size: 60-80 studentsAverage class size in seminars: 25 students


Not losing trackSix tracksIdea behind tracks: offer a bundle of coherent courses related to one topic, which still allows for some flexibilityAlternative: completely personalize your program!Compulsory: 1-3 methods courses + 2-4 seminar courses per trackFurther electives from MSc Economics courses + 1 Free Elective + potentially electives from other MSc programs (depends on track)Write MSc thesis on topic from trackGet track name on degree certificate


Course List and Specialization Tracks15

Explain how to read the table!!White diamonds are SUGGESTIONS, but they can take any other course from this list!15

Applied Economic Analysis 1 & 2: Sjak SmuldersEconometrics 1: Ben VollaardEconometrics 2: Otilia BoldeaGame Theory 1: WielandMllerGame Theory 2: Florian SchttExperiments and Surveys: ElinevanderHeidenInnovation and Networks: Bert Willems & Jens PrferEconomics and Psychology of Social Norms and Strategic Behavior: Jan PottersFinancial Markets and Institutions: BurakUras & Harald BeninkGenerational Economics: LexMeijdam & Eduard Ponds

Our professors (2016-17)16Growth and Regional Development: Sjak SmuldersTaxation: Harry HuizingaThe Economics and Finance of Pensions: RoelMehlkopf & Casper van EwijkCompetition Policy: Eric van Damme & Cdric ArgentonEconomics and Psychology of Risk and Time: Gijs van de KuilenEnvironmental and Resource Economics: Daan van SoestFinancial Economics: Michiel BijlsmaHealth Economics: Peter KooremanLabor Economics: Daniel van Vuuren

Seminar Environmental and Resource EconomicsWeeks 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 lecturerFellow students prepare 1 question for discussion of every topicEvaluation: contributions to discussions (10%)presentations (30%)exam (60%)Typical course setups17Seminar 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 gamePart II: The Law & Economics of InnovationWeeks 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 presentationsEvaluation:Assignments & participation (30%)Written exam (70%)

Electives from other MSc ProgramsElectives from other MSc programs at TiSEMUsually 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 listFor 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!18

MSc Thesis What is it?15 ECTS + 3 ECTS thesis proposal writing in AEA 2Type: combination of applied and academicShould be written on a relevant economic question (broadly defined)Can include data workCan be (extension of) theoretical modelIn special cases: can be qualitative work or extensive literature review Builds on and requires knowledge acquired in coursesThink ahead! Thesis title is printed on your diploma signaling for labor market19


Career perspectives

Career perspectivesNational Alumni Enquete (fall 2016) on Tilburgs MSc Economics:Time between graduation and first paid job: 56%: 1 month; 82%: 3 monthsMost graduates found job in industry, trade, transport, financial services, or with the government87% have a permanent job contract or expect to get tenure soonAverage gross income p.m.: EUR 254295% are (very) satisfied with the Master program73% agree (very) strongly that the Master prepared them well for professional lifeMore details: 21

About 25% of our recent graduates works abroadRecent international graduates:Business Data Analyst at ABN AMRO BankAnalyst at AccenturePensions Strategist at APGEconomist at Bank of EnglandAdvisor at Bank of PortugalEconomist at Central Bank of MaltaBusiness Analyst at DeloitteRecent international graduates22Trade Finance Officer at ICBCConsultant at KPMG Junior Analyst at National Bank of HungaryConsultant at The World BankPhD Candidate in Economics at Tilburg UniversityEconomist at Towers WatsonPhD student at Trinity College DublinFinancial Business Analyst at Unilever

What do Economists do?Tilburg MECODeloitte, RotterdamRembrandt Fusies en OvernamesPanteia, ZoetermeerInnovator at TNO DelftSEO Economic Research, RdamPolicy advisor, Govt of CuracaoAethon PersoneelsserviceMinisterie EZRaven ConsultingECORYS, RotterdamAdviseur MVO en Duurzaamheid EthinconDelta Lloyd AmsterdamBeleggingsadviseur SNS UtrechtAutoriteit Consument en Markt, Den HaagMxima Medisch CentrumDNBTheresia lyceum TilburgABN-AmroRabobankVan LanschotResearch Analyst, WorldBankBrand LoyalityCentral Bank of TurkeyCPBTurkish Competition Authority, AnkaraSouth African Reserve BankFujifilm Manufacturing EuropeBulgarian Photovoltaic AssociationInter American Development BankZwijsen CollegePostNLMinisterie van Sociale Zaken en WerkgelegenheidPricewaterhouseCoopers PwCNationale-NederlandenSteward RedqueenEnergiedirect.nlEuropean CommissionIBM NederlandBain Capital, London


Master Economics Student perspectiveDian van Rooi

Past:Bachelor Economie en Bedrijfseconomie at Tilburg UniversityExchange to Seoul, South-KoreaChairman study association Asset | Economics(and Treasurer Asset)

Present:Money, Banking &Financial Institutions track (and Sustainability and Growth)Author Blog Committee Asset | EconomicsAbout meTrack Competition and Regulationr 2623-3-2017

1st semester: Econometrics 1Experiments & SurveysGame Theory 1Game Theory 2