Econometrics, Operations Research and Actuarial Studies, M.Sc.

Econometrics, Operations Research and Actuarial Studies, M.Sc.

  • Application Deadline
  • 12 months
University rank #59 (ARWU) ,
Do you like analysing complicated economic questions? Are you interested in applying your ICT-skills to answer such questions? Then this programme in Econometrics, Operations Research and Actuarial Studies from the University of Groningen is the right one for you.


The programme in Econometrics, Operations Research and Actuarial Studies from the University of Groningen uses mathematical models to analyse problems in economics, finance and related areas. Relevant questions are: How will future employment ratios develop in Europe? What is the influence of high petrol prices on the expected number of train passengers? How can delivery routes to customers be improved? How can financial risks be quantified? 

By teaching you the basic skills of mathematical modelling, this programme provides you with a toolbox to solve economic and financial questions. You will also learn to give an economic interpretation to quantitative results. You can choose between three profiles:

  • Econometrics aims at quantifying causal relations among economic variables. The models are used for forecasting and to make policy decisions.
  • Operations Research uses mathematical models to solve complex optimisation and decision-making problems, for example in logistics.
  • Actuarial Studies focuses on mathematical models for risk management in the financial sector (insurance companies, pension funds, banks).
Job prospects

As a graduate, you can find work at banks, insurers, logistics companies, central banks, pension funds, consultancy firms, government, supervisory authorities, and competition authorities, to name a few. Both the public and the private sector offer interesting job perspectives. Finally, you could start a career as a researcher in academia or at research institutes.


 EQUIS and AACSB accredited

Programme Structure

Courses included:
  •  Asset and Liability Management, OR: Banking, Insurance and Risk Management
  •  Dependence & Extremes in Risk Management 
  •  Models for Short Term Risk Management 
  •  Applied Macroeconometrics, OR: Applied Microeconometrics 
  •  Econometric Inference 
  •  Econometric Theory and Methods 
  •  Analysis of Complex Systems, OR: Supply Chain Optimization 
  •  Combinatorial Optimization 
  •  Stochastic Programming 
For more information, please visit the programme website.

                      Detailed Programme Facts

                      • Programme intensity Full-time
                        • Full-time duration 12 months
                      • Credits
                        60 ECTS
                      • Languages
                        • English
                      • Delivery mode
                        On Campus

                      English Language Requirements

                      You only need to take one of these language tests:

                      • Minimum required score:


                        The TOEFL iBT ® measures your English-language abilities in an academic setting. The test has four sections (reading, listening, speaking, and writing), each with a score range of 0-30, for a total score range of 0-120. Read more about TOEFL iBT ®.

                        Schedule TOEFL®
                      • Minimum required score:


                        The TOEFL®PBT is administered in a paper format and measures your ability to use and understand English in a classroom setting at the college or university level. It accurately measures how well you can listen, read and write in English while performing academic tasks. Read more about TOEFL®PBT.

                        Schedule TOEFL®
                      • Minimum required score:


                        The IELTS – or the International English Language Test System – tests your English-language abilities (writing, listening, speaking, and reading) on a scale of 1.00–9.00. The minimum IELTS score requirement refers to which Overall Band Score you received, which is your combined average score. Read more about IELTS.

                        Schedule IELTS

                      Academic Requirements

                      You only need to take one of these tests:

                      • You need the following GMAT score:

                        Required score: 500

                        The GMAT - or Graduate Management Admission Test - is a frequent requirement for admission at management and business schools across the world. The GMAT score ranges between 200 and 800 and measures the verbal and quantitative reasoning of test-takers. Read more about the GMAT.

                      • This programme accepts GRE® scores, however, has not provided a recommended or minimum required score range.

                        The GRE® General Test is a widely administered admissions test that measures the skills needed in today's graduate and business school programs worldwide. The GRE® General Test contains three sections - Verbal Reasoning, Quantitative Reasoning, and Analytical Writing. Three scores are reported: a Verbal Reasoning score on a 130 - 170 score scale in one-point increments, a Quantitative Reasoning score on a 130 - 170 score scale in one-point increments, and an Analytical Writing score on a 0 - 6 score scale in half-point increments.

                      • Certified competences - GMAT/GRE;
                      • Grade list - A certified grade list(s) is considered in the evaluation.
                      • Language test - TOEFL, IELTS
                      • Previous education - To be eligible for admission to this Master, you need to hold an academic Bachelor's or Master's degree from a research university in the field of Econometrics and Operations Research.

                                            StudyPortals Tip: Students should consider taking one of the Pre-Master's below. these courses will be necessary if:

                                            • You are considered ineligible for admission
                                            • You need to improve your academic, study, research or language skills
                                            Search all Pre-Masters

                                            Tuition Fee

                                            • International Applies to you

                                              14200 EUR/year
                                              Tuition Fee
                                              Based on the original amount of 14200 EUR per year and a duration of 12 months.
                                            • EU/EEA Applies to you

                                              2006 EUR/year
                                              Tuition Fee
                                              Based on the original amount of 2006 EUR per year and a duration of 12 months.
                                            We've labeled the tuition fee that applies to you because we think you are from and prefer over other currencies.

                                            Living costs for Groningen

                                            • 750 - 1000 EUR/month
                                              Living Costs

                                            The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.


                                            Several scholarships are available for international students who are motivated to study Bachelor’s, Master’s and PhD programmes, as well as for exchanges, short courses and research stays at our university.

                                            StudyPortals Tip: Students can search online for independent or external scholarships that can help fund their studies. Check the scholarships to see whether you are eligible to apply. Many scholarships are either merit-based or needs-based.

                                            The Global Study Awards: get funded with up to £10,000 to study abroad

                                            Together with the ISIC Association and British Council IELTS, StudyPortals offers you the chance to receive up to £10000 to expand your horizon and study abroad. We want to ultimately encourage you to study abroad in order to experience and explore new countries, cultures and languages.

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