The MSc EORAS programme uses mathematical and statistical models to analyse problems in business, economics, finance, insurance, and related areas. We address questions such as: How will future employment ratios develop in Europe? How much influence will petrol prices have on car usage? What is the minimal route length to deliver large amounts of parcels? How to calculate a fair premium for a new insurance product? These questions have in common that they use mathematical modelling and data science in a decision-making process. In the MSc EORAS programme, you will learn how to construct appropriate models, to apply these models with real-life data and (statistical) software, and to design and implement computer algorithms to evaluate the decisions. Importantly, you also learn how to give proper (economic) interpretations of the outcomes of the analysis.
The MSc EORAS in Groningen has three specialized profiles:
1) Econometrics, which aims at quantifying causal relations among economic variables using statistical models. The models are used for forecasting purposes, for supporting policy decisions and are applied in fields such as finance, fintech, government, and marketing.
2) Operations Research, which uses mathematical and probabilistic models to solve optimization and decision-making problems, for example in business, consultancy, logistics, and operation management.
3) Actuarial Studies, which focuses on mathematical models for risk management in the financial sector, consisting of insurance companies, pension funds, banks, hedge funds, and institutional investors.