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faculty of economics and business master s programmes in economics and business 2011-2012

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cover photo students faculty of economics and business jie and anam 2 www.feb.uva.nl/education

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word of welcome enrolling in a master s programme is a big decision that can have a profound impact on your future since the quality of master s programmes available in the international market varies widely it is important you make the right choice it will probably come as no surprise that as director graduate school of economics of the faculty of economics and business at the university of amsterdam uva i have no hesitation in recommending our programmes we have an interesting portfolio of programmes backed by a prestigious university and taught by a faculty that is internationally renowned the high quality of our programmes reflects the reputation of our university moreover our courses are truly international in respect of staff students and content we also realise that the quality of our programmes is determined to a large extent by the quality of our student body we therefore take great care in assessing all applications for admission quality is further monitored by means of internal and external assessments and accreditation procedures ensuring a top-quality and demanding curriculum as well as official recognition of your degree in both the netherlands and abroad finally we are located in the fascinating cosmopolitan cultural and business centre that is amsterdam our location gives students excellent opportunities for developing contacts and finding internships as well as for finding employment after graduation students also enjoy living in amsterdam because of its tolerant and multicultural environment and vibrant cultural life this brochure provides information about the uva the faculty of economics and business and the faculty s master s programmes additional information can be obtained from our website and our staff the information presented here is intended to assist you in making your choice of a master s programme if you find the programme that is right for you and we think you are right for us we will be most pleased to welcome you to the uva professor peter boswijk director graduate school of economics faculty of economics and business 3 university of amsterdam faculty of economics and business

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contents university of amsterdam one faculty two schools general information actuarial science and mathematical finance business economics business studies economics econometrics fiscal economics tinbergen institute master of philosophy in economics research operations research master in international finance the amsterdam mba business administration accountancy control international executive master of finance and control 5 8 9 10 12 14 16 18 19 20 21 22 24 26 27 practical matters 28 4 www.feb.uva.nl/education

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university of amsterdam university of amsterdam the university of amsterdam uva is a modern university with a rich history its predecessor the athenaeum illustre was established in 1632 by the amsterdam city council today the athenaeum illustre has grown into a world-class research and teaching university the uva offers a broad range of bachelor s and master s programmes it now has more than 240 master s programmes covering almost every academic discipline from accountancy control to philosophy many of which are taught in english the uva is thus able to attract a large number of international students and has countless nationalities represented in its student population the wide selection of courses available allows students to design a programme to suit their personal ambitions and talents students are also given the best support possible during their studies in the form of extensive academic coaching many of the master s programmes reflect the top international research being conducted in a specific field thus exposing students to groundbreaking research during their studies amsterdam is an inspiring city for students and scientists alike the close proximity of scientific institutes such as seo economic research and the tinbergen institute facilitates and enriches research and independent study the uva is a research university with the city of amsterdam as its campus many of the uva s facilities such as the university library and the student cultural organisation crea are located in the heart of amsterdam with the cultural and scientific institutes and uva facilities spread across the city in this way amsterdam itself can be said to be the uva s true campus the uva is ranked 49th in the world university rankings thes 2009 furthermore the uva is the highest ranked university in the netherlands because the uva has contacts with universities across the globe many students have the opportunity where relevant to study abroad or meet students from all over the world in their amsterdam classroom the uva is a member of leru a network of renowned european research universities including the universities of oxford cambridge ucl zurich leuven leiden and edinburgh furthermore the uva is a member of universitas 21 a network of twenty-one leading comprehensive research universities from thirteen different countries among its members are the universities of melbourne british columbia auckland singapore delhi and fudan university 5 university of amsterdam faculty of economics and business

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city of amsterdam amsterdam famous for its historical buildings and canals is a multifaceted city bustling with knowledge commerce creativity and innovation the tolerant atmosphere and the open-mindedness of its inhabitants form an inviting setting for scientists entrepreneurs and artists alike they frequently work together inspiring and stimulating one another with surprising discoveries enterprises and creations as the result it is this dynamic and challenging environment that attracts many national and international students to the city the capital of the netherlands amsterdam is an exuberant smallscale metropolis where you quickly feel safe and welcome the city of rembrandt van rijn h.p berlage anne frank and johan cruijff it has a unique cultural and intellectual life countless museums festivals and artistic groups stage exhibitions and performances all year round the city of amsterdam features as one of the world s 15 best places to live in mercer s 2010 quality of living survey and with schiphol one of europe s major airports a mere 20 minutes away the world is just around the corner named after the amstel river amsterdam expanded rapidly from the thirteenth century onwards due to a thriving maritime industry to become the largest city of the netherlands in 1500 during the seventeenth century the so-called dutch golden age it grew into one of the wealthiest and most powerful cities in the world it was then that its famous crescent-shaped canals were built with its tradition of intellectual tolerance amsterdam attracted scholars and writers from abroad who were unable to find the same level of freedom in their own countries baruch spinoza and rené descartes flourished here alongside dutch painters poets and scientists such as johannes vermeer constantijn huygens and antonie van leeuwenhoek intellectual and cultural curiosity have prevailed in the netherlands ever since this same rich and diverse culture can be found in amsterdam today amid a more modern climate of forward-thinking professionalism education has always played a vital role in the development of dutch culture the uva as one of the largest centres of study and research in the netherlands continues to be one of its key players studying in an international environment in an effort to create an international environment in which learning and creativity can flourish the uva has always encouraged international cooperation it attracts students from all over the world and presently has more than 2,000 international students from over 100 countries among its ranks the uva currently has one of the largest numbers of international study programmes of any university in continental europe most classes at the master s level include students with different nationalities and cultural backgrounds in an era of globalisation and an increasingly international labour market such an environment helps prepare students for their future careers 6 www.feb.uva.nl/education

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it also allows faculties to seek international standards of excellence the curriculum is constantly being developed and today comprises more than 100 study programmes taught entirely in english as well as developing new programmes the uva constantly strives to improve the quality and efficiency of existing programmes providing further evidence of the entrepreneurial spirit of the netherlands in general and amsterdam in particular amsterdam now has a broad-based economy but the most important sectors with over 120,000 jobs continue to be business and financial services the amsterdam stock exchange the dutch central bank and the global and regional head offices of numerous dutch and international firms are what make amsterdam the financial and business heart of the netherlands as well as a prestigious international business centre master s programmes at the feb reflect amsterdam s international entrepreneurial intellectual and socially responsible traditions internationalisation is a keyword at the feb the staff student body degree programmes and research all have a strong international focus the faculty has also developed a worldwide network of academic partnerships offering both a wide range of opportunities for our students and a global platform for the exchange of knowledge faculty of economics and business the faculty of economics and business feb was established in 1922 and currently has around 4,500 students the feb provides a high-level economics and business curriculum with a strong academic basis for national and international undergraduate graduate and postgraduate students the bachelor s programmes are taught at the college of economics and business the master s programmes and research activities take place at the amsterdam school of economics ase and the amsterdam business school abs the faculty has an excellent reputation both in the netherlands and internationally studying at the feb also means studying in amsterdam a city that is a leader in finance and trade international business was born in amsterdam the world s first public stock exchange was founded in amsterdam and served as an example for stock markets all over the world the first multinational ­ the dutch east india company or voc ­ was also established here selection of feb partner universities escola de administração de indian institute of management empresas de são paulo da fundação getulio vargas pontificia universidad católica de chili tech de monterrey universidad del pacífico universidad torcuato di tella national chengchi university chulalongkorn university university of arizona bilkent university bocconi school of management norwegian school of management universitat pompeu fabre copenhagen business school university of warwick ut1 toulouse nanyang technological university university of vienna ahmedabad leuven university institute de politique sociales science po paris athens school of economics and business warsaw school of economics université de lausanne charles university in prague academia de studii economice bucaresti indian institute of management calcutta peking university tsinghua university fudan university vietnam national university ho chi minh city 7 university of amsterdam faculty of economics and business

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one faculty two schools amsterdam school of economics the amsterdam school of economics ase offers several excellent master s study programmes in economics econometrics actuarial science and mathematical finance and operations research all with a strong focus on research ase aims to train students for careers in research and leading positions in the public or private sector its educational programme fosters the academic ideal of integrated research and teaching in addition to the regular master s programmes ase also offers a two-year research master of philosophy in economics hosted by the tinbergen institute faculty members in the research programmes work on various topics in the broad field of economics and econometrics and publish in top economics journals such as the american economic review quarterly journal of economics review of economic studies journal of political economy and econometrics and in various specialised journals such as experimental economics and labour economics master s programmes msc amsterdam business school the amsterdam business school abs is responsible for all of the feb s master s programmes in business ranging from master of science programmes to postgraduate mba and executive master s programmes all of the master of science programmes are taught in english with the exception of fiscal economics which focuses on topics specific to the dutch situation the degree programmes have a strong international perspective and are taught by an international staff of lecturers and researchers the abs educational philosophy is characterised by interactive seminars and workshops and case-based programmes designed to stimulate active student participation master s programmes msc msc accreditation all of our master s programmes have been positively assessed by the accreditation organisation of the netherlands and flanders nvao upon completion of their master s programme students receive an accredited and internationally recognised master s degree for more information please visit www.nvao.net in 2010 the european foundation for management development efmd renewed the equis accreditation to the abs the abs is one of around 100 elite schools including the london business school insead and imd that have been awarded this accreditation worldwide efmd accountancy control business economics msc business studies advanced master s programmes actuarial science and mathematical finance msc econometrics msc economics msc operations research tinbergen institute master of philosophy in economics research amsterdam mba executive master in finance and control master in international finance international the 8 www.feb.uva.nl/education

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general information international master s programmes in economics and business programme degree accountancy control msc actuarial science and mathematical finance business administration business economics business studies econometrics economics tinbergen institute master of philosophy in economics research international executive master of finance control modular international finance operations research msc mba msc msc msc msc msc emfc rc msc msc mode of study full-time/part-time full-time full-time/part-time full-time full-time/part-time full-time full-time full-time part-time full-time/part-time full-time duration 1 year/1.5 years 1 year 1 year/2 years 1 year 1 year/1.5 years 1 year 1 year 2 years 2.5 years 1 year/2 years 1 year teaching students at the uva are exposed to diverse teaching methods assessment for participation in a course can be based on a written examination an oral test a paper or a combination of all three credit system semesters are composed of units called courses each course yields 5 or 10 ects credits in accordance with the european credit transfer system ects this makes it possible to transfer credits more easily between european academic institutions a full-time study for one academic year yields 60 credits corresponding to 1,680 hours of study grading system 10 excellent 9 very good 8 good 7 satisfactory above average 6 pass 1 to 5 fail the academic year the academic year of the uva runs from the first week of september to mid-july and is divided into two semesters of 21 weeks each the first semester runs from early september to early february the second from early february to mid-july the duration of individual programmes can be found in the specific programme descriptions at www.uva.nl/isp 9 university of amsterdam faculty of economics and business

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`my current work is an extension of my thesis research topic i provide advice to pension funds in the area of policy martin bakker actuarial science and mathematical finance www.uva.nl/msc_actuarial_science title master of science msc duration 1 year credits 60 ects credits language english programme director prof rob kaas an aspect that makes master s programme in actuarial science and mathematical finance the only the stand-alone one of its kind in the netherlands is the range of courses you can follow to learn about the latest international developments e.g fair value techniques market-consistent embedded value and solvency ii during the programme you will be taught not only by leading academics in the field of actuarial science but also several experts and practitioners working in the industry this ensures that you will have access to the field s most upto-date techniques practices and insights it will equip you with the essential modelling skills needed to either pursue a career in the industry or conduct further research in an ever more important financial discipline programme structure and curriculum actuarial science and mathematical finance is a multidisciplinary master s programme that provides balanced and rigorous training in the financial and mathematical analysis of complex issues in insurance it focuses on mathematical modelbuilding in the various specialised fields of insurance life insurance non-life insurance and pension funds since the programme as a whole is aimed at developing a scientific attitude and approach it places a great deal of emphasis on the theoretical foundations of various methods and techniques the master s programme is divided into two semesters each consisting of two terms students take three core courses and three electives during the first semester and one core course and two electives during the second students conclude their studies with a master s thesis carried out under the supervision of an actuarial researcher within the department of quantitative economics upon successful completion of the programme students receive a master s degree in actuarial science and mathematical finance and the title master of science msc career prospects the master s programme is a one-year programme intended for those who wish to work as an actuary i.e an insurance mathematician an actuary designs and monitors financial 10 www.feb.uva.nl/education

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security systems the actuarial profession is currently in a period of transition and has also come to encompass financial risk management outside the insurance sector graduates with a master s degree in actuarial science and mathematical finance have excellent career prospects many find employment as actuaries or risk managers with insurance companies actuarial consultancy firms or pension funds the master s programme also provides a good foundation for pursuing a phd degree michel vellekoop the netherlands professor of actuarial science professor vellekoop s research is focused on the valuation and risk management of contingent claims in complete as well as incomplete markets he studied applied mathematics at the university of twente and obtained his phd degree at imperial college in london for his research on nonlinear filtering problems for stochastic processes from 1998 to 2009 he has held positions as assistant and associate professor at the university of twente where he worked on different topics in mathematical finance such as optimal stopping and weak convergence problems since 2004 he has also been director of research for the derivatives technology foundation an organization in which academics and practitioners cooperate in joint research projects for option market makers he is currently the theme coordinator for the research theme reconciling short term risks and long term goals for retirement provisions in netspar the network for studies on pensions ageing and retirement martin bakker from the netherlands alumnus science and mathematical finance `the master s programme in actuarial science and mathematical finance made a good impression on me when i attended the open day at the uva the excellent quality of the programme was emphasised along with the fact that it enjoys a good reputation in the business world although the programme is quite demanding your efforts are rewarded in a short period of time you learn a great deal and this is very satisfying some extremely good courses were given in alm asset liability management and i have to say that these were my favourites in fact after my studies alm became my profession i m now working at a company called ortec this is a company that provides advanced software solutions and consultancy services in the area of planning and optimisation my current work is an extension of my thesis research topic i provide advice to pension funds in the area of policy how can the risks of an economic downturn be managed for employees retired employees and sponsors this involves collecting data creating models and calculations and analysing and presenting the findings you can definitely say that my degree is strongly related to my work 11 university of amsterdam faculty of economics and business

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`after graduation i would like to work for an investment company or a hedge fund to start my financial career hence i have chosen mainly investment courses in my master s programme maria kourdalanova business economics www.uva.nl/msc_business_economics title master of science msc duration 1 year credits 60 ects credits language english programme coordinators dr daniela fabbri finance prof jeroen hinloopen organisation economics gerjan vos msc real estate finance courses in economics of organisation and management form the foundation for this track apart from that students may follow some specialised courses in the field of industrial organisation microeconomics management accounting and corporate finance the real estate finance track is designed to provide advanced insight and training in the financial and economic aspects of commercial real estate the programme is built around three core modules real estate valuation real estate market analysis and real estate investment this specialised real estate programme draws on the uva s established history of conducting real estate research in if you would like to learn how organisations work make investment decisions and motivate management and staff to create value then the master s programme in business economics is for you the master s programme in business economics gives you the tools and knowledge you need to work for a wide range of organisations in both the commercial and governmental sectors it is a specialised programme for students with a background in business economics who want to focus on organisational and financing issues programme structure and curriculum the master s programme in business economics has three tracks each with its own professional profile finance organisation economics real estate finance the finance track concentrates on the workings of financial markets the financial and economic management of organisations and the use of financial tools by companies and investors the programme is built around specialised modules for example on commercial banking corporate finance investment theory managing bond portfolio risks financial markets international finance and so on the faculty of economics and business is one of the few economics faculties in europe offering a specialisation in organisation economics the organisation economics track examines the economic performance of organisations in broad terms staff motivation allocation of decision making powers investment decisions corporate governance and corporate functioning in various types of markets 12 www.feb.uva.nl/education

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amsterdam in conjunction with the real estate industry itself career prospects prof enrico perotti italy professor of international finance chair finance group after obtaining his phd in finance from mit in 1990 prof enrico perotti taught at boston university and the london school of economics his research interests are corporate finance and governance international finance political economy and innovation he publishes regularly in top academic journals prof perotti is a research fellow at the centre for economic policy research cepr director of the amsterdam center for research in international finance cifra fellow of the davidson institute at the university of michigan and a member of the national bureau of economic research s nber research group on entrepreneurship he has acted as a consultant for the imf the world bank the ec and the new york stock exchange amongst others in the last two years he has been a guest at the imf research department the london business school and the london school of economics and has given seminars at harvard mit yale brown berkeley and nyu maria kourdalanova from bulgaria student business economics `i have a bachelor s degree in banking and finance from the university of malta i like how the programme here is organised compared to my previous studies each student can choose the courses of his/her interest within one specialisation the lectures are well prepared and up to date all the lecturers and staff are also fluent in english which makes communication very easy and enjoyable in my master s programme in business economics many nations are represented and thus one can truly experience the globalisation of the world the dutch students are really helpful and love to chat with foreigners making it easy to find new friends after graduation i would like to work for an investment company or a hedge fund to start my financial career hence i have chosen mainly investment courses in my master s programme the finance track opens up a wide range of career opportunities for example as an all-round financial analyst an investment adviser at a merchant bank or perhaps eventually a financial director of a company the real estate finance track is ideal for students seeking a career in the real estate industry and related finance the organisation economics track prepares students for management or research positions requiring a knowledge and understanding of economic perspectives with respect to organisations and strategy 13 university of amsterdam faculty of economics and business

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`the business skills and knowledge i have gained from my master s courses help me a lot now that i m working in the real business world he xianming business studies www.uva.nl/msc_business_studies title master of science msc duration 1 year full-time 1,5 year part-time credits 60 ects credits language english programme director dr mark van der veen as a graduate of the master s programme in business studies you will be able to analyse complex organisational issues and produce practical solutions you will gain not only a thorough knowledge of specialist business literature but also the ability to apply it in practice business studies encourages you to take a multidisciplinary approach to organisational issues in context you will find that some analyses and solutions which appear perfectly rational in the framework of one disciplinary area ­ economics psychology sociology or political science ­ will almost always have repercussions in other parts of the organisation by viewing these issues in a coordinated plural and managerial way you will learn to map their wider consequences comprehensively coherently and consistently 14 www.feb.uva.nl/education

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dr ranjita singh lecturer in strategy and competitive advantage my classroom style combines rigorous pedagogy and practical knowledge this helps students understand the unique issues of organisations operating in complex ambiguous and uncertain environments my goal is to instill students with a deep curiosity about organisational issues and develop tools to think critically to solve problems in real organisational contexts my expertise is best suited to teaching strategic management and technology strategy programme structure and curriculum the study programme offers seven areas of specialisation and within these tracks there are many course options this gives students the opportunity to choose a specialisation and tailor it exactly to their personal preferences and skills students are allowed to choose three master s courses 10 ects credits each from at least two of the following tracks cultural industries entrepreneurship governance and valuation human resource management organisational behaviour information management marketing strategy and organisation core courses in professional and research orientation 5 credits research project 5 credits and the master s thesis 20 credits complete the curriculum career prospects a master s degree in business studies opens up a wide range of interesting career opportunities graduates are ideally suited for positions that use business analysis and reflection to strategically and operationally enhance the functioning improvement and renewal of commercial and noncommercial organisations examples of such positions include organisational consultant strategic analyst project leader hrm manager information analyst information manager account manager product manager and financial manager prof nachoem wijnberg the netherlands professor of cultural entrepreneurship and management prof nachoem wijnberg holds master s degrees in law and economics as well as a phd in management his research interests are cultural industries strategic management and entrepreneurship and innovation new scientific publications are published frequently besides his work as a professor nachoem wijnberg has written novels and poetry his literary work has received numerous awards and some of it has been translated he xianming from china alumnus business studies `i finished my major at the uva and hold a master s degree in business studies when i decided to study abroad i had to choose a country and a university the logical choice seemed to be to study at a british university as this is where most chinese students go but once i got more detailed information about the course structures i realised that the uva was much more attractive i chose the marketing track as my major i could also choose courses from the other tracks which enabled me to broaden my knowledge after my graduation at the uva i have started an internship at philips the business skills and knowledge i have gained from my master s courses help me a lot now that i m working in the real business world 15 university of amsterdam faculty of economics and business

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