Master’s programmes in Business and Economics School of Business and Economics Sharing Success • MSc International Business • MSc Human Decision Science • MSc Management of Learning • MSc Economic Studies • MSc Infonomics • MSc Financial Economics • MSc Fiscale Economie • MSc Econometrics and Operations Research • MSc Global Supply Chain Management and Change • MSc Business Research • MSc Economic and Financial Research Language of instruction: English Maastricht University: Leading in Learning Historic yet forward-thinking and contemporary, typically Dutch yet multicultural and vibrant, Maastricht is a city of contrasts Known as the birthplace of the modern European Union, Maastricht continues to establish itself internationally thanks to Maastricht University’s position as a leading academic centre in Europe Beyond boundaries With over half of its master’s students and a third of its academic staff coming from outside the Netherlands, Maastricht University has a reputation for its international orientation and dynamic, interdisciplinary environment Almost all of our master’s programmes are taught in English and international themes are deeply rooted in the curricula New perspectives As a master’s student, you are a contributing member of our academic community Using the Problem-Based Learning methodology, you work in small groups alongside students from all over the world In close cooperation with the academic staff, you and your fellow students examine real-life social issues from an academic perspective Exchanging knowledge and experiences, learning to see things from new perspectives, and developing essential skills: at Maastricht University you learn to think as both an academic and a professional Research Research at Maastricht University focuses on current social themes that are studied from various disciplines at all relevant levels The university carries out research through its many research institutes and works in close cooperation with external institutes, businesses and social organisations We recognise the value of bright, young researchers in contributing to the development of fresh and innovative ideas That is why research plays an integral role in the majority of our master’s programmes and why we offer a number of research master’s programmes, which are often a stepping stone to a PhD Career Further specialising in your field by earning a master’s degree at Maastricht University will greatly enhance your career prospects The effectiveness of our approach to education and research is demonstrated by the performance of our graduates They are self-assured, independent and assertive professionals, able to make a smooth transition from their studies to the job market They not only focus on theory, but also learn the skills they need for a successful career Master’s programmes in Business and Economics Contents Our promise to you Value exchange In everything we do, we are determined to add value to our international network and community In return, we are enriched by and appreciate the value that we receive from others • Inspiring We strive to inspire our community and partners all over the world, not through what we say, but through our actions Challenging people inspires people Maastricht University is signatory of the “Code of conduct with respect to international students in Dutch higher education” More information about this code of conduct is available at www.internationalstudy.nl All programmes in this brochure are accredited by the Accreditation Organisation of the Netherlands and Flanders (NVAO) For more information on NVAO, please visit www.nvao.net * This specialisation has yet to be formally approved to start in September 2012 MSc Human Decision Science 28 MSc Management of Learning 30 MSc Economic Studies • Competition and Regulation • Public Economics • Managerial Economics* • Social Economics • European Economic Policy • Global Innovation Economics 32 34 36 37 38 39 41 42 45 46 48 50 52 MSc Econometrics and Operations Research • Actuarial Sciences • Econometrics • Mathematical Economics • Operations Research 54 56 57 58 59 MSc Global Supply Chain Management and Change 60 MSc Business Research • 10 12 14 16 18 20 22 24 26 MSc Fiscale Economie • Forward thinking We look towards the future, beyond conventions and beyond borders Making progress is all about forward thinking MSc International Business • Accountancy • Business Intelligence • Controlling • Entrepreneurship and SME Management • Finance • Information Management • Marketing-Finance • Organisation: Management, Change and Consultancy • Strategic Marketing • Strategy and Innovation • Supply Chain Management MSc Financial Economics • Asset Pricing • Banking • Financial Analysis Our values MSc Infonomics We are building an international network school where we look towards the future and beyond borders, where inspiration and the exchange of value lead to success Message from the dean 62 MSc Economic and Financial Research 64 Message from the dean You want to go to a top school You want a master’s degree recognised across Europe and around the world And you want skills and experience that will prepare you for further studies or a successful career At the Maastricht University School of Business and Economics (SBE), you’ll find all this and more The passport to your future International and diverse Maastricht is a charming and vibrant city Located at the crossroads of the Netherlands, Belgium and Germany, it’s a microcosm of cultures and languages And so, too, is SBE Our staff and students come from almost 50 different countries All our programmes have an international focus, with almost all courses taught in English And we have academic and corporate partners all over the world, which gives you great opportunities to study or intern abroad All this serves to broaden both your professional and personal horizons Innovative and dynamic Problem-Based Learning (PBL) is the methodology for which Maastricht University is famous This means small tutorial groups, close contact with your tutors, continuous learning (rather than just cramming for exams!), and a highly interactive style of learning In this way, PBL trains you to be an active and independent participant, rather than just a passive recipient It’s no coincidence that the skills you need to use PBL successfully are also a huge plus in today’s job market Practical and professional Employers like our graduates because they are trained in valuable, real-life skills: managing yourself and your team, giving and receiving constructive criticism, meeting deadlines, producing concrete results, and taking responsibility, but also taking risks In order to prepare you for the international labour market, we have initiated the International Classroom Development Programme, in which you will learn to work in teams composed of various different nationalities We also put you in direct contact with employers through internships, recruitment events and company visits Career services are incorporated into all programmes, including one-on-one guidance and interview training And our alumni circles, which count some 9000 members from Aruba to Shanghai, organise regular networking opportunities Research and reputation At SBE, you learn from the best Our research is consistently rated first or second in national peer reviews What’s more, we are among the 52 business schools worldwide that have been granted the prestigious Triple Crown accreditation (EQUIS, AACSB and AMBA) We also consistently get high praise in the Dutch, German and international rankings for our facilities, international mobility, student satisfaction, value for money, alumni salaries and more Start here … go anywhere In short, SBE provides the highest quality education and a springboard to the next step You’ll find that the knowledge, skills and experience from your SBE bachelor’s will put you on the best possible footing We look forward to welcoming you here Prof Jos Lemmink Dean, School of Business and Economics Master’s programmes in Business and Economics MSc International Business Business without borders Is International Business right for you? In today’s globalised business environment, are you inspired by international organisations and how they operate and change over time? Are you looking to develop the knowledge and skills that will put you ahead in today’s dynamic business world? International Business will help you succeed As well as the standard admission requirements, you should: • have an interest in business across borders; • be able to think analytically; • be prepared to work hard on your chosen specialisation; • have international career ambitions Why should you choose International Business? What are your career prospects? International business covers all aspects of commerce across borders It is a very broad subject, which is why this programme has been divided into several specialisations This means that you can choose to focus on a particular area, depending on your own interests and future ambitions Whichever specialisation you choose, there are some common elements to all of them These include a strong focus on business in an international environment through extensive use of case studies, reallife business problems, skills training and a master’s thesis You will finish the year with the broad analytical and theoretical skills required for an international business career, as well as a deep understanding of your chosen specialisation Many of our students have job offers before they graduate Your understanding of international business issues, combined with the interpersonal and leadership skills you will learn during the year, will make you an asset to any organisation to which you apply Within this programme, you can choose from the following specialisations: • Accountancy • Business Intelligence • Controlling • Entrepreneurship and SME Management • Finance • Information Management • Marketing-Finance • Organisation: Management, Change and Consultancy • Strategic Marketing • Strategy and Innovation • Supply Chain Management You may also wish to study part-time over two years If so, you can choose from Accountancy, Entrepreneurship and SME Management, Finance, Information Management, Strategic Marketing, Strategy and Innovation and Supply Chain Management All specialisations start twice yearly in February and September All specialisations, except for Accountancy, are generally taught twice a week in the evening, in English Please note that some lectures and exams may take place during the day The Accountancy programme is taught in Dutch and classes are on Fridays during the day Graduates have found positions as: • Marketing Managers • (Financial) Consultants • Product Managers • Business Engineers at: • consultancy firms, such as Cap Gemini and Accenture; • large multinationals, such as Shell and Philips; • SMEs; • governmental and non-governmental organisations distinctive feature, good In 2010, the NVAO awarded the `Distinctive (Quality) Feature for Internationalisation’ to SBE’s bachelor’s and master’s programmes in International Business The NVAO safeguards the quality of higher education in the Netherlands and Flanders, evaluates study programmes and grants acknowledgements of particular qualities For this accreditation, the NVAO looked at six different criteria and focused in particular on the level of ambition and explicit vision on internationalisation within the programmes Specialisation Accountancy Interpreting information for better business decisions Do you want to get right to the core of business – working within the central nerve system of any company? Are you interested in interpreting numbers, as well as gathering them? Do you aspire to become an auditor or financial consultant? Accountancy puts you on the fast specialisation to success Why should you choose Accountancy? Financial information is the basis for all company decisions – so accountants play a central role in decision making, whether about people or products There are two distinct roles that graduates in Accountancy can play: • Financial consultants interpret information, enabling resource allocation decisions essential to achieving corporate goals • Auditors check the reliability of that information During this specialisation, you will learn about international accounting principles, meaning that you can take your profession with you anywhere in the world Moreover, the department of Accounting and Information Management has an excellent reputation due to its highquality research, including research projects for the EU and top Dutch and European auditing firms What will you learn? Having completed this specialisation, you will be able to: • design internal accounting systems that help managers make good business decisions; • prepare, read and interpret financial statements; • provide assurance on the reliability of reporting mechanisms, such as annual reports Is Accountancy right for you? As well as the standard admission requirements, you should: • be an enthusiastic team player; • have a common-sense understanding of the way organisations work; • have some quantitative ability; • be a critical thinker A bachelor’s degree in any discipline is required, though a high level of achievement is more important than the subject itself What are your career prospects? Interaction with companies is an integral part of this specialisation You will have the opportunity to visit companies, network with future potential employers, join student associations, and attend guest lectures and workshops given by audit firms, such as KPMG, Ernst & Young, Deloitte Touche Tohmatsu and PricewaterhouseCoopers These opportunities will bring you into contact with the professional world and open up employment possibilities before you’ve even graduated Graduates have found positions in: • audit firms or departments; • their own businesses; • financial consultancy After graduating in Accountancy, you can take either a Dutch post-graduate programme or an international post-graduate programme that both focus on qualifying you to become a Registered Auditor (see www.umra.nl) You can obtain this qualification by attending a part-time programme whilst working in the field At this post-graduate stage, links with the corporate world are even stronger: the programmes are an integral part of firms’ management and executive development; and executives of corporations sit on the programmes’ supervisory boards Master’s programmes in Business and Economics More than numbers “The Problem-Based Learning (PBL) system at Maastricht Maastricht University is internationally well recognized University has proven to be useful in my day to day work for its quality education, which I noticed when applying as a finance professional, as I come across all kinds of for my first job, but again when applying for the post- issues or questions for which no clear cut answer is doctoral international study programme ‘Chartered readily available Through PBL I developed skills to tackle Global Management Accountant’ in London.” these “bumps in the road” in a structured way, but with room for out-of-the-box thinking Moreover, I learned to be comfortable speaking in front of a group of people and working in teams Elise van Laarhoven Finance Advisor Chemicals Operations Europe & Africa Shell Chemicals Europe BV Rotterdam Course outline There are certain compulsory courses within the specialisation, as well as an elective Accountancy Financial Statement Analysis and Valuation Elective Skills Training: Writing a Master’s Thesis Financial Accounting Writing the Master’s Thesis Management Control Writing the Master’s Thesis Term II Assurance Services Term I Internal Control Completing the Master’s Thesis NB The course outline applies to the September start date at the time of publishing Details of the specialisation could change, or may differ for the February start date Before applying, please check our website for the latest information Fast facts • Programme: MSc International Business • Specialisation: Accountancy • Language of instruction: English • Duration: year full-time • Start date(s): in February and September • Study load per week: hrs classes; 12 hrs group work; 20 hrs individual study Total 40 hours • Learning method: problem-based learning; guest lectures; presentations; assignments; papers • Assessment method: written exams; final papers; group participation • Options: • 2-year part-time programme (Fridays only, in Dutch) • double degree programme with EDHEC Business School and Queen’s School of Business for SBE IB or EBE bachelor’s graduates Further information: • www.maastrichtuniversity.nl/sbe/master Specialisation Business Intelligence Making better business decisions What will you learn? How the best businesses succeed? By knowing how to make the right decisions Are you ambitious to apply your knowledge to staying on top of your industry, by knowing your competitors and customers? Do you want to learn how to apply IT tools and technologies to business problems? Choose Business Intelligence to stay ahead in business Having completed this specialisation, you will be able to: • reach sound strategic decisions; • understand fundamental models and value drivers of your company specifically, and of the industry in general; • use the power of IT tools and technologies in a strategic business context Why should you choose Business Intelligence? Business intelligence does what it says on the tin: it provides you with the tools to make intelligent, strategic decisions about your future business More specifically, it is already being used by hedge fund managers and in merger and acquisition situations, which are becoming increasingly common in today’s economic climate Is Business Intelligence right for you? As well as the standard admission requirements, you should: • have an interest in what generates value in a business, such as IT, strategic decision-making and business modelling; • be familiar with business models; • be able to think analytically To this, the specialisation uniquely combines three distinct areas of study: strategy; financial accounting and information management It also employs a multidisciplinary learning approach consisting of the strategic use of IT, quantitative models and real-life application You will actively use business intelligence and statistics software in a true ‘learning by doing’ approach A bachelor’s degree in international business or equivalent is required for career prospects in this area of business, although other disciplines may be considered for the specialisation Examples of well-known real-life cases where you’ll have the opportunity to apply business models include: • decisions about a 3G network auction for mobile phone operators; • strategic buying decisions for a European office rental company; • profit analysis for leveraged takeover of a bank by hedge funds; • revenue management for an airline company The current economic climate means there is a huge demand for graduates in Business Intelligence The specialisation will equip you with skills in quantitative modelling, IT, corporate strategy, decision making and management science – all of which will make you a valuable asset to any company, especially large multinationals Furthermore, the specialisation has direct links with DSM, Vodafone, AirFrance KLM, Sabic Europe and others, who provide case studies, internships, research contracts and informal seminars, all of which give you access to excellent job opportunities What are your career prospects? Graduates have found positions in: • strategy consulting; • strategy departments of multinationals; • large companies requiring strong analytical skills Master’s programmes in Business and Economics Course outline Modelling customers and competitors Business Intelligence Vodafone uses business intelligence to model their customers’ feedback Business Intelligence Case Study Data Management Skills Training: Writing a Master’s Thesis IT Project Management Operational Strategy and to monitor their competitors Through business intelligence, you can Writing the Master’s Thesis Writing the Master’s Thesis Term II Business Analysis Term I Supply Chain Operations Completing the Master’s Thesis use these models to make decisions on marketing strategy You will be able to analyse which customers to target based on whether they are profitable, whether they offer cross-selling opportunities, whether they fit Vodafone’s strengths and so on You can learn about cases like these and apply the methodologies in other fields through the Business Intelligence specialisation NB The course outline applies to the September start date at the time of publishing Details of the specialisation could change, or may differ for the February start date Before applying, please check our website for the latest information Fast facts • Programme: MSc International Business • Specialisation: Business Intelligence • Language of instruction: English • Duration: year full-time • Start date(s): in February and September • Study load per week: 10 hrs classes; 15 hrs group work; 15 hrs individual study Total 40 hours • Learning method: problem-based learning; guest lectures; presentations; assignments • Assessment method: written exams; final papers; group participation • Option: • double degree programme with EDHEC Business School and Queen’s School of Business for SBE IB or EBE bachelor’s graduates Further information: • www.maastrichtuniversity.nl/sbe/master Specialisation Controlling Assessing information for informed decisions Is Controlling right for you? Do you want to know where business information comes from and how to interpret it? Are you interested in management control? Do you aspire to analyse information so that your business can make the best-informed decisions? Then Controlling is the specialisation for you As well as the standard admission requirements, you should: • have a general interest in the workings of businesses; • be able to think critically; • demonstrate quantitative skills; • be a team player and interested in people and people management Why should you choose Controlling? Controllers are often compared to the navigators on ships: they know where the ship has been, where it is currently and where it needs to go They have a broad view of the situation of the business Controllers bridge the gap between management and accounting This means that they gather, prepare, interpret and assess information, which then allows them to advise managers of the best decisions to make Examples of the types of assessments you might make as a controller include information relating to profitability, the success of product A vs product B, people’s performance within an organisation, the viability of mergers & acquisitions and so on Controllers use costing techniques and performance assessment techniques in order to make the best business decisions in these types of situations This specialisation is particularly suitable for you if you are interested in management control, but not want to go into audit, assurance or accountancy What will you learn? Having completed this specialisation, you will be able to: • design management control instruments – such as scorecards, managerial incentives, budgets, and so on – to implement strategies, assess their effectiveness and report on this; • design and improve internal reporting systems; • help management to improve their decisions – relating to pricing, mergers & acquisitions and make or buy, for example 10 Master’s programmes in Business and Economics A bachelor’s degree in any discipline is required though a high level of achievement is more important than the subject itself What are your career prospects? The Controlling specialisation allows you to work with real businesses, such as Beiersdorf and Medtronic Representatives from companies such as these often spend the day at the school, doing case studies with you and encouraging you to make presentations on your projects, for example Although these are not recruitment events, you will have the opportunity to talk to people working in the field – some students even find internships through these connections Graduates have found positions in: • controlling departments, as controllers, finance managers and eventually finance directors (CFOs) in multinationals such as Beiersdorf, Philips, Unilever, and Shell; • general management in any major firm – decisions makers such as CEOs and CFOs often have a background in controlling; • consulting firms; • in-house consulting departments within companies After graduating in Controlling, you can take either a Dutch post-graduate programme (see www.emfc.nl) or an international post-graduate programme (see www.iemfc.nl) that both focus on qualifying you to become a Chartered Controller You can obtain this qualification by attending a part-time programme whilst working in the field MSc Econometrics and Operations Research Applying mathematical methods to economic problems Do you have mathematical and statistical skills that you want to put to work in a business context? Do you want to learn to forecast economic developments? Or to create IT solutions to solve production issues? The Econometrics and Operations Research (E&OR) programme allows you to just that Why should you choose Econometrics and Operations Research? Econometrics is used in every area of economics, from business and finance to macroeconomics and microeconomics Although it is a specialised field, the opportunities are endless given the huge demand for people with the quantitative skills to solve economic problems Throughout this programme, you benefit from small groups and close working relationships with your teachers In the first block you take two compulsory theory courses with all other E&OR students From the second block onwards, you pursue your own interests, starting with your choice of one of the following specialisations (though you can also choose not to specialise) • Actuarial Sciences • Econometrics • Mathematical Economics • Operations Research Within these specialisations, you get the chance to choose four elective courses that most appeal to you Three of these must come from the list below; the fourth from a list of selected SBE master’s courses in economics and business (see www.maastrichtuniversity.nl/sbe/master): • Time Series Methods and Dynamic Econometrics • Econometric Methods for Cross-Sectional Panel Data • Empirical Analysis of Financial Markets • Life Insurance I • Life Insurance II • Mathematical Finance • Social Choice Theory • Industrial Economics • Equilibrium Theory and Financial Markets • Algorithms and Optimisation • Modelling and Solver Technology The specialisations consist of a fixed combination of electives that you can read about on the following pages 54 Master’s programmes in Business and Economics Finally, you can select one of the following three skills training options: • Topics in Computational Econometrics • Topics in Computational Actuarial Methods • Operations Research Software Is Econometrics and Operations Research right for you? As well as the standard admission requirements, you should: • have quantitative skills in maths and statistics • enjoy problem solving • be able to think analytically • be able to apply theory to practical problems What are your career prospects? Many students of this programme are approached by prospective employers before they have even graduated The shortage of econometricians means you will enjoy numerous and wide-ranging job opportunities Graduates have found positions as: - Econometricians - Researchers - Financial analysts - Operations Managers at: • governmental and semi-governmental institutions; • banks and financial institutions; • insurance companies; • consultancy firms, such as Cap Gemini and Accenture Course outline Fast facts Econometrics and Operations Research Stochastic Processes Algorithms in Operations Research & Game Theory Elective Elective Skills Training Elective Writing the Master’s Thesis Elective Writing the Master’s Thesis Completing the Master’s Thesis Term I Term II NB The course outline applies to the September start date at the time of publishing Details of the programme could change, or may differ for the February start date Before applying, please check our website for the latest information • • • • • • • • • Programme: MSc Econometrics and Operations Research Specialisations: Actuarial Sciences, Econometrics, Mathematical Economics, Operations Research Language of instruction: English Duration: year full-time Start date(s): in September Study load per week: hrs classes; 16 hrs group work; 16 hrs individual study Total 40 hours Learning method: problem-based learning; guest lectures; presentations; assignments; papers Assessment method: written and oral exams, group participation Options: double-degree programme with the Université Catholique de Louvain Further information: • www.maastrichtuniversity.nl/sbe/master 55 Specialisation Actuarial Sciences Your passport to accreditation as a qualified actuary Do you look at finance from both a liability and an asset perspective? Do you have what it takes to manage investment proactively while mitigating risks? If you tend to see finance as a balance between two points of view, you should definitely consider becoming an actuary Why should you choose Actuarial Sciences? Actuarial Sciences, which is one of only three such specialisations in the Netherlands, mirrors the changing role of actuaries While traditional actuaries focused on mitigating risks, modern actuaries look at market demand and decide how to optimise return on investment This requires a balanced view of the interaction between assets and liabilities If you choose to become an actuary, this specialisation is a necessary first step towards your qualification If you are currently studying the bachelor’s programme in Econometrics and Operations Research at Maastricht University, you have the opportunity to take preparatory courses as an elective If you choose to become an actuary, this specialisation is a necessary first step towards your qualification If you are currently studying the bachelor’s programme in Econometrics and Operations Research at SBE, you have the opportunity to take the preparatory courses ‘Actuarial Mathematics’ and ‘Actuarial Statistics’ as electives in your third year These preparatory courses, combined with this master’s qualification in Actuarial Sciences, give you a passport to a postgraduate course at the Dutch Actuarial Society and equivalent institutions in other countries With an officially accredited actuarial qualification, your opportunities are plentiful as actuaries are in extremely high demand the world over Polaroid pensions – to outsource or not to outsource? Polaroid, the well-known company producing sun glasses and cameras, asked the department for advice as part of a company project Due to a strategic reorganisation, Polaroid decided to outsource their pension activities As an Actuarial Sciences student, your role in this project would be to advise them how this outsourcing should take place and to calculate the financial consequences 56 Master’s programmes in Business and Economics What will you learn? Having completed this specialisation, you will be able to: • structure financial problems so that you can solve them by breaking them down into smaller components; • look at problems from an asset as well as a liability point of view, using a two-sided approach; • demonstrate financial expertise in the pension and insurance sectors Is Actuarial Sciences right for you? As well as the standard admission requirements, you should: • enjoy solving economic problems; • have a mathematical background, especially in statistics; • be an analytical thinker A bachelor’s degree in econometrics or economics with a mathematical or statistical focus is preferable but not required This specialisation is also suitable for people: • working for an insurance company or pension fund who want further qualifications; • already doing actuarial work who require an official actuarial qualification; • coming from a non-actuarial field but wanting to specialise in actuarial studies What are your career prospects? Most graduates of this specialisation go on to become qualified actuaries Given the current undersupply of actuaries, there is huge demand – so much so that the ABP and AZL pension funds approached Maastricht University with a request to initiate this specialisation With this qualification, however, it is also possible to perform any role that requires the skills you will acquire in investigating large sets of data, often in banking or insurance Graduates have found positions in: • insurance companies; • pension funds; • consultancy firms Specialisation Econometrics Fast and accurate responses to financial developments Are you fascinated by financial theory? Do you aspire to asset liability management? Do you want to learn how to predict future financial developments based on your analysis of past patterns? Apply for a specialisation in Econometrics to find out how Why should you choose Econometrics? Apart from the fascinating theories and practical case studies that you will encounter during this specialisation, the demand for econometricians in today’s complex economic climate is enormous Large organisations need people who are able to manage resources and react quickly and effectively to changes in the market Industries, banks, insurers, governmental and commercial organisations: all need to adapt to market events, manage risks, predict the implications of their decisions – and fast The specialisation focuses on statistical analysis of economic data, finance – including financial theory – and asset liability management What will you learn? Is Econometrics right for you? As well as the standard admission requirements, you should: • have an interest in economic problem solving; • enjoy a theoretical approach; • have a background in maths or statistics A bachelor’s degree in econometrics or economics, or a bachelor’s degree from a technical faculty, such as electrical engineering or maths, is required What are your career prospects? This specialisation is great training to become a top analyst The skills that you will acquire through this specialisation are particularly useful in pension and investment funds where previous data is used to model how a customer’s portfolio will develop over time Graduates have found positions in: • governmental institutions; • banking; • large corporations; • research institutes, including PhD positions; • analytical firms Having completed this specialisation, you will be able to: • analyse data using statistical and econometric tools; • model future developments based on past data Valuable for my career My bachelor’s and master’s degrees in Econometrics and Operations Research I still benefit from the global network of fellow students and professors that I from SBE have proved extremely valuable for my current job as an analytic acquired during my studies abroad I have experienced and enjoyed the added consultant, as well as my previous work as an academic researcher value of studying in Maastricht.” in Brussels Problem-Based Learning provides excellent experience with team situations, which are an essential part of my daily work The international Bram Smeets, Consultant dimension at SBE and the semester exchange both stimulate valuable skills in McKinsey & Company inter-cultural understanding, communication and collaboration Amsterdam 57 Specialisation Mathematical Economics Understanding the ‘why’ behind economic problems Ever wondered why economic developments work the way they do? Do you enjoy creating models and theories in order to solve problems? Are you the kind of person who wants to understand the ‘why’ behind the issue? Then why not take the Mathematical Economics specialisation? Why should you choose Mathematical Economics? As a manager, you have decisions to make about the internal and external organisation of the company, and of course its finances Mathematical economics can help you to this strategically by using mathematical methods to weigh your options The Mathematical Economics specialisation uses theory to solve real-world problems You will this by modelling a specific problem, abstracting it, using the model to solve the problem and then translating it back into the real-world situation The specialisation specialises in Game Theory and Equilibrium Theory, including industrial organisation Competition between Pepsi and Coca Cola Mathematical Economics can help solve issues such as company collusion, optimal control of renewable stock and how to stay ahead of the competition Take Pepsi and Coca Cola as a case of competing companies: should they lower their prices, increase their advertising, find cheaper resources or restructure their organisation? As a Mathematical Economics student you use theoretical modelling to answer these questions 58 Master’s programmes in Business and Economics What will you learn? Having completed this specialisation, you will be able to: • apply theoretical models to solve business problems; • make informed decisions on resources, finances and organisational structure Is Mathematical Economics right for you? As well as the standard admission requirements, you should: • have an interest in mathematical analysis; • have a theoretical mind A bachelor’s degree in a related discipline such as economics, econometrics, operations research or maths is required What are your career prospects? A qualification in Mathematical Economics gives you the potential to be a top financial analyst, although the skills you will learn will be invaluable in any industry The ability to analyse problems quickly and accurately is one shared by the best managers, meaning you also have the potential to be recruited to top management positions in the future Graduates have found positions in: • analyst firms; • technical roles; • senior management in any industry; • universities to a PhD, either to obtain a further qualification or to embark on an academic career Specialisation Operations Research Using technology to find solutions Do you have an affinity for information technology that you want to put to good use in a business environment? Do you get a kick out of problem solving in fields as diverse as logistics, planning, information management and telecoms? The Operations Research specialisation will help you just that Why should you choose Operations Research? Operations Research uses optimisation techniques to solve business and economic problems Specifically, you will use computer technologies and programming to reach solutions via simulations, regression analysis and so on These tools can be used for a variety of purposes: to organise the logistics of public transport timetables; to optimise distribution channels for telecoms providers; to maximise efficiency and minimise cost for container companies These are just a few potential business situations in which operations knowledge is key A distinctive feature of the specialisation is the opportunity to combine an eight-week internship with your master’s thesis – a unique blend of theoretical research and practical experience What will you learn? Having completed this specialisation, you will be able to: • use and develop software to find optimal solutions for logistical scheduling problems; • give sound advice on finding technical solutions to business and economic problems Is Operations Research right for you? As well as the standard admission requirements, you should: • have an interest in IT and technology – please note that although this is not a programming specialisation, you can choose to take a programming course; • enjoy problem solving A bachelor’s degree in a related discipline, such as economics, econometrics, operations research or IT, is required What are your career prospects? As a graduate in Operations Research, you will typically start in a technical role, providing support to management in making decisions, growing later into a management role yourself The internship is a great opportunity to learn on-the-job skills and get a foot in the door of an industry that interests you Graduates have found positions in: • logistics; • telecoms; • distribution industries Quantitative methods to solve real-world problems “Having completed my master’s programme at SBE, has helped research proposal for the National Science Foundation Graduate me become a much better researcher I have been able to publish Research Fellowship Program My time at SBE helped me build a numerous journal articles, present at different national/interna- toolkit of analytical methods that has proven extremely useful in tional conferences, review for multiple academic journals and tackling complex problems.” serve as an editor-in-chief Additionally, my research experiences at Maastricht University enabled me to craft an award-winning Nathaniel Bastian, Researcher Co-Founder, Health Logistics Professionals USA 59 MSc Global Supply Chain Management and Change Innovative entrepreneurship in the worldwide supply chain Are you interested in supply chain management processes and how they can be improved? Are you a creative thinker who can innovate to achieve a competitive edge? Do you aspire to set up your own business, or make a real difference to a company that wants to compete in a dynamic, international marketplace? If so, this programme – based in Venlo – can drive your entrepreneurial ambitions Why should you choose Global Supply Chain Management and Change? In an increasingly globalised economy, more and more production is outsourced This means that innovative supply chain management is key to commercial survival The Global Supply Chain Management and Change programme meets the growing demand for supply chain management experts who have a deep understanding of the role of innovation in business success The programme is taught in Venlo, an entrepreneurial city about 80km from Maastricht You benefit from Maastricht University’s outstanding academic resources and expertise, while having the opportunity to put your knowledge into practice almost immediately in the region’s industrial centre This master’s programme is a multi-disciplinary combination of supply chain management, innovation and entrepreneurship The knowledge and skills you gain will give you the edge when it comes to setting up your own business You will also be perfectly positioned to manage the strategic change projects in the supply chains of global organisations that will put them ahead of the competition Links to companies in the area mean you will analyse real business cases and gain practical experience Moreover, your master’s thesis should be based on a reallife innovation or an entrepreneurial project What will you learn? Having completed this programme, you will be able to: • maintain an overview of every link in the supply chain; • carry out effective supply chain planning; • deal effectively with suppliers, buyers and customers; • understand global business issues; • identify areas of improvement and drive change processes; • work in and manage (international) teams Is Global Supply Chain Management and Change right for you? As well as the standard admission requirements, you should: • be internationally minded and open to new ideas; • see the opportunities of change rather than the threats; • be an analytical thinker with a desire to see theory in practice A background in supply chain management, logistics or business is an advantage but not required What are your career prospects? As a graduate of this programme, many opportunities will be open to you Your business and managerial skills will put you on the fast track to a senior position in a range of organisations These include the project or staff departments of global retail and logistics companies You will also graduate with a strong sense of entrepreneurship, which will be invaluable if you decide to start your own company Graduates have found positions as: • Supply chain managers • Purchasing analysts • Logistics Managers • Consultants at: • large multinationals, such as Shell and Philips; • start-ups; • logisitcs companies, such as DHL and TNT; • consultancy firms, such as Cap Gemini and Accenture 60 Master’s programmes in Business and Economics A unique programme with an excellent reputation “I’d been attracted to the Netherlands for a long time, and when I started doing some research about Dutch Course outline universities I discovered just how prestigious Global Supply Chain Management and Change Maastricht is when it comes to business administration The fact that my programme is offered in Venlo makes it unique, because that brings Supply Chain Relationships Entrepreneurship and Innovation Skills Training: Project and Change Management UM’s business partners, this opens up all sorts of ICT Systems and Services Business and Supply Chain Strategy Álvaro Castillo Skills Training: Writing a Business Plan Writing the Master’s Thesis Term II Methods and Methodology Term I Supply Chain Operations Completing the Master’s Thesis us closer to the logistics industry in North Limburg The area is a real hyve of activity, with global companies like UPS, Scheuten Solar, Medtronic and many others all based there And because these are opportunities for students.” Innovation and Improvement Coordinator Casa Pellas (Toyota distributor) Nicaragua NB The details of this programme could change; before applying, please check our website for the latest information Fast facts • • • • • • • Programme: MSc Global Supply Chain Management and Change (based in Venlo) Language of instruction: English Duration: year full-time Start date(s): in September Study load per week: hrs classes; 12 hrs group work; 20 hrs individual study Total 40 hours Learning method: problem-based learning; guest lectures; presentations; assignments Assessment method: written exams; final papers; group participation Further information: • www.maastrichtuniversity.nl/campusvenlo 61 MPhil Business Research MSc Business Research Business processes meet academic research skills Do you want to pursue an academic career, or to specialise in research within business? Do you have a strong academic record, and want to challenge yourself even further? Then applying for the two-year master’s programme in Business Research will give you the edge Why should you choose Business Research? How is a research programme put together? On the one hand, the programme provides you with relevant experience in methodology needed for excellence in research On the other, it is tailor-made to offer students the courses in business that interest them the most And you can be sure you’ll be receiving the best teaching, because the courses on offer relate to studies of our best researchers This means that courses are relevant, up-todate and at the forefront of their field Moreover, some courses are offered in cooperation with other top universities; these give you opportunities for further, and different, specialisations Top researchers from international institutions also give one week of guest lectures, meaning that you benefit from the knowledge of the best international business researchers The master’s programme in Business Research focuses on two main skill sets: one includes methodological processes that provide you with analytical skills specific to your subject area The other comprises research and academic skills courses provided to help you with the general research process, writing in English, getting published, the review process and so on For the best students, grants and scholarships are available to contribute to their studies If you continue as a PhD student, you will receive a salary 62 Master’s programmes in Business and Economics What will you learn? Having completed this programme, you will be able to: • carry out academic research in business according to the highest standards; • demonstrate strong knowledge of the recent literature in your field of interest; • know how to increase the impact of your research Is Business Research right for you? As well as the standard admission requirements, you should: • be research-driven; • be ambitious to have a career as a business researcher or to a PhD; • be self-motivated and hard-working; • have high grades and high GMAT scores A bachelor’s degree in business or operations is a plus, although other disciplines are possible Please note that if you already have a master’s degree, you may be exempt from re-taking certain content What are your career prospects? An MSc in Business Research offers you two distinct future paths: • further study in the form of a PhD and, beyond that, an academic or research career; • a business career in organisations needing strong researchers Collaboration in research projects “I chose this programme because it allows flexibility in choosing a specialisation, by offering insights into Course outline research in Marketing/Supply Chain Management, Accounting/Information Management and Strategy/ There are certain compulsory courses within the programme, as well as some electives These cover the following specialisations: • Accounting and Information Management • Marketing and Supply Chain Management • Technology, Innovation and Industrial Dynamics • Development and Utilisation of Human Resources • Operations Research Organisation The personal contact with PhD students and other department members is very valuable We’re invited to pre-tests of experiments and can comment on the ongoing projects of researchers What for regular master’s students is the hands-on experience in companies, for us is the collaboration with researchers in the various departments.” Hannes Datta Business Research PhD student Year Special Topics in Marketing and Supply Chain Management Business Research Design Special Topics in Information Management and Accounting Elective Skills Training: Data Analysis Skills The Economics of Strategy and Innovation Applied Quantitative Analysis Elective Elective Skills Training: World of Research Term I Term II Business Research • • • • • • • Programme: MSc Business Research Language of instruction: English Duration: years full-time Start date(s): in September Study load per week: hrs classes; 32 hrs individual study Total: 40 hours Learning method: problem-based learning; guest lectures; presentations; assignments; papers Assessment method: written and oral exams; final papers, group participation Further information: • www.maastrichtuniversity.nl/sbe/researchmaster Year Advanced Quantitative Methods in Business I Specialisation Course Advanced Quantitative Methods in Business II Specialisation Course Skills Training: Presentation Skills Writing the Master’s Thesis Writing the Master’s Thesis Writing the Master’s Thesis Writing the Master’s Thesis Completing the Master’s Thesis Term I Term II Fast facts NB The details of this programme could change; before applying, please check our website for the latest information 63 MSc Economic and Financial Research Your gateway to a PhD You already have a top academic specialisation record You now want to pursue an international academic career in research And you want to so in a challenging environment Apply for the two-year master’s programme in Economic and Financial Research and start your research career here What will you learn? Having completed this programme, you will be able to: • carry out academic research according to the highest standards; • demonstrate a strong knowledge of the recent literature in your field of interest; • demonstrate knowledge of how to get your research published Why should you choose Economic and Financial Research? Is Economic and Financial Research right for you? In this challenging master’s programme you will focus on developing two main skill sets You will learn how to contribute to the development of research in economics or finance Meanwhile, the academic skills courses will help you with the general research process, writing in English, getting published, the review process and so on As well as the standard admission requirements, you should: • be research-driven; • be ambitious to a PhD; • be self-motivated and hard-working; • have high grades and high GMAT scores The first year of this master’s programme will provide you with high-level courses in economics, according to the American standard in content and scope, needed for a successful career in research This means that, having followed the research programme, you can easily enrol for a research programme in the United States (or an American PhD offered elsewhere) or work internationally A bachelor’s degree in economics, finance or econometrics is preferable, although other disciplines are possible As a student of this programme, you can tailor make your degree, especially in your second year, to target your areas of interest Courses on offer relate to research being carried out by the best researchers in the department, which means that you benefit from the most current thinking in the field International researchers at the forefront of their subject areas are also involved in your courses Joint courses with other top universities are offered to provide you with the best in education and to stimulate interaction with other research master’s and PhD students For the best students, grants and scholarships are available to contribute to their studies If you continue as a PhD student, you will receive a salary 64 Master’s programmes in Business and Economics Please note that if you already have a master’s degree, you may be exempt from re-taking certain content What are your career prospects? An MSc in Economic and Financial Research offers you two distinct future paths: • further study in the form of a PhD and, beyond that, an academic or research career; • a business career in organisations needing strong researchers A programme tailored to your research needs “What impresses me most about this programme is that what I have learnt yesterday, I will implement Course outline during my project work tomorrow – it makes both parts of the programme more meaningful and moti- There are certain compulsory courses within the programme, as well as some specialisation courses and electives These cover the following specialisations: • Economic Theory Behaviour and Computing • Econometrics, Finance and Monetary Economics • Technology, Innovation and Industrial Dynamics • Development and Utilisation of Human Resources vating For people like me, who already have a master’s degree, it’s also a great advantage to be able to put together a tailored programme based on the particular technical skills that I need to brush up on.” Olga Skriabikova, PhD candidate/Researcher The Research Centre for Education and the Labour Market (ROA) Economic and Financial Research Maastricht Year 1 Financial Markets Empirical Econometrics Skills Training: Topics in Empirical Econometrics International Macroeconomics I Elective Elective Elective Term II Mathematical Research Tools Term I Microeconomics Skills Training: World of Research Economic and Financial Research Fast facts • • • • • • • Programme: MSc Economic and Financial Research Language of instruction: English Duration: years full-time Start date(s): in September Study load per week: hrs classes; 32 hrs individual study Total: 40 hours Learning method: problem-based learning; guest lectures; presentations; assignments; papers Assessment method: written and oral exams; final papers; group participation Year 2 Specialisation Course Specialisation Course Skills Training: Presentation Skills Writing the Master’s Thesis Writing the Master’s Thesis Writing the Master’s Thesis Writing the Master’s Thesis Term II Specialisation Course Term I Specialisation course Completing the Master’s Thesis Further information: • www.maastrichtuniversity.nl/sbe/researchmaster NB The details of this programme could change; before applying, please check our website for the latest information 65 Notes 66 Master’s programmes in Business and Economics Master’s programmes overview 2012/13 Arts & Culture* • Master in Arts & Culture, with the following programmes: - Arts and Heritage: Policy, Management and Education / Kunst, cultuur en erfgoed (MA) - Art, Literature and Society/Kunst, literatuur en samenleving (MA)3 - Politics and Society/Politiek en samenleving (MA) • Master in Arts & Culture (research), with the following programme: - Research Master in Cultures of Arts, Science and Technology (MSc)1 • Master in European Studies, with the following programme: - European Studies on Society, Science and Technology (MA) • Master in Media Studies, with the following programme: - Media Culture (MA) Behavioural & Political Sciences • European Public Affairs (MA) • European Studies, specialisations (MA) • Globalisation and Development Studies (MA) • Psychology, specialisations (MSc) • Public Policy and Human Development, specialisation in Behavioural & Political Sciences (MSc) 1** • Research Master in European Studies (MSc) • Sustainability Science & Policy (MSc) Business & Economics (All programmes Triple Crown accredited: AACSB, EQUIS and AMBA) • Advanced Master in Intellectual Property Law and Knowledge Management (LLM, MSc) • Econometrics and Operations Research, specialisations (MSc) • Financial Economics, specialisations (MSc) • Fiscale Economie/Fiscal Economics, specialisations (MSc)2 • Global Supply Chain Management and Change (MSc) • Human Decision Science (MSc) (starting September 2012) • Infonomics (MSc) • International Business, 11 full-time and part-time specialisations (one of which is in Dutch) (MSc) • International Economic Studies, specialisations (MSc) • Management of Learning (MSc) • Public Policy and Human Development, specialisations in Business & Economics (MSc) ** • Research Master in Business Research, specialisations (MSc) • Research Master in Economic and Financial Research, specialisations (MSc) Graduate programmes for professionals • Executive Master of Finance and Control (EMFC/MSc/RC) • International Executive Master of Finance and Control (part-time EMFC/MSc/RC) • MBA (International Executive Modular, Dutch Executive Modular and Euro) Education • Master of Evidence Based Innovation in Teaching (MSc) Health & Life Sciences • Arts-Klinisch Onderzoeker/Physician-Clinical Investigator (MSc, MD) • Biology of Human Performance and Health (MSc) (starting September 2011) • Epidemiology (MSc) (starting September 2011) • European Public Health (MSc) • Forensic Psychology (MSc) • Geneeskunde/Medicine (MSc, MD) • Global Health (MSc) • Healthcare Policy, Innovation and Management (MSc) (starting September 2011) • Health Education and Promotion (MSc) (starting September 2011) • Health Food Innovation Management (MSc) • Mental Health (MSc) • Molecular Life Sciences, specialisations (MSc) (within transnational University Limburg, tUL) • Psychology, specialisations (MSc) • Research Master in Cognitive and Clinical Neuroscience, specialisations (MSc) • Research Master in Health Sciences (MSc) • Sports and Physical Activity Interventions (MSc) (starting September 2011) Graduate programmes for professionals • Affective Neuroscience (MSc) • Health Professions Education (MSc) Law • Advanced Master in Intellectual Property Law and Knowledge Management (LLM, MSc) • Advanced Master in International and European Economic Law (LLM) • European Law School (LLM) • Fiscaal Recht/Tax Law, specialisations (LLM) • Forensica, Criminologie en Rechtspleging / Forensics, Criminology and Law (LLM) • Globalisation and Law, specialisations (LLM) • International and European Tax Law (LLM) • International Laws (LLM) • Nederlands Recht/Dutch Law, specialisations (LLM) • Recht en Arbeid/Law and Labour, specialisations (LLM) Sciences (within transnational University Limburg, tUL) • Artificial Intelligence (MSc) • Operations Research (MSc) New initiatives at UM • Postgraduate European Master in Architecture (MSc) • Advanced Master in Euro-Asian Law and Business Studies (MA) These programmes under ‘New initiatives at UM’ are currently in the process of NVAO accreditation For more information about these programmes and their expected starting dates, please consult www.maastrichtuniversity.nl/newinitiatives Language of instruction: Only in English Part Dutch, part English Available in both English and Dutch Only in Dutch * Due to a national restructuring operation in the Humanities field, some changes have occurred in our Arts & Culture sector If you wish to apply for one of the above master’s programmes, you will have to select its overarching master’s title in Studielink For more information, please visit www.maastrichtuniversity.nl/fasos ** This programme is offered as a double degree in collaboration with United Nations University 67 © 2011 Maastricht University School of Business and Economics, PO Box 616, 6200 MD Maastricht, the Netherlands Text: The Write Company, Amsterdam | Concept for photography: brouwer&bauer bv, Maastricht | Photography: Pascal Hermans, Hasselt; Gregor Ramaekers, Maastricht; Carin Willemsen / Coproductions, Sittard; Joey Roberts, Maastricht, Henry Peters / Fotostudio G2, Geleen | Concept and design template: Vormgeversassociatie BV, Hoog-Keppel | Layout and production: Diamedia Minds, Maastricht | Final editing: Claudia Spierings Although this brochure was made with the utmost care, no rights can be derived from it Contact information Master’s Open Days Maastricht University School of Business and Economics Tongersestraat 53 PO Box 616 6200 MD Maastricht The Netherlands www.maastrichtuniversity.nl/sbe Get to know Maastricht, the 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