Economics

Much of Economics is about gathering information and making complex decisions under a number of relevant constraints. Consumers, firms, and policymakers alike need to base their actions on sound evidence to pursue their goals effectively. They interact and affect each other in various and intricate ways that economists strive to understand. The Master in Economics is a high-quality one-year programme. The first part of the programme consists of three compulsory core courses focusing on the foundations of the discipline at an advanced level. You will also take three elective courses that can be combined into a specialization. Two pieces of independent academic work, a research project and a final thesis, complete the programme requirements. Thanks to the compact, personal nature of the programme there is plenty of interaction with the teaching staff. The programme is highly esteemed by its students and is one of the top Economics programmes in the Netherlands. This program offers five different specializations:-Developmental Economics: Development Economics applies basic tools of economics to key policy issues in developing countries and transition economies. This specialization discusses topics like: the role of constraints (for example through exposure to risk) on the ability of households to escape from poverty through asset accumulation; the potential for sustainable land use in areas with rapid population growth; the economic implications of migration. and the scope for economic growth through industrial development. These topics, along with aggregate aspects of growth and inequality, and broader issues of human development, shape the curriculum of the Development Economics specialization.-Global Challenges: This specialization studies economic aspects of pressing global issues. Course work straddles areas of environmental policy, global warming and climate change, but also the division between developed countries and the developing world, affecting life and decisions of billions (poverty, access to health and education, migration). All courses feature the application of relevant theoretical and empirical insights to practical issues. You will learn to use modern tools of analysis to investigate potential solutions and formulate policy recommendations. Global challenges are much wider, and thesis work can further delve into issues of, for instance, global diffusion of technical change and innovation, international tax and welfare competition, or international political economy.-International and Macroeconomic Policy: The specialization International and Macroeconomic Policy focuses on trade, growth and coordination of fiscal and monetary policy. This specialization builds upon foundations of advanced macroeconomics: What determines long-run growth and productivity; what is the use of fiscal and monetary policy for economic stabilization? Specialization courses discuss, inter alia, strategies in coordination and cooperation needed to maintain and promote the integration of Europe: How are tasks divided between EU and national authorities, can the Euro area be stabilized and is further expansion desirable? Another area focuses on growth in developing nations: What role do institutional (social and political) factors play in promoting growth, how do incentives affect savings and investment of households and firms, and what is the impact of foreign aid on development?-Market Analytics: The specialization studies in market analytics focuses on various aspects relevant for understanding economic markets. This specialization discusses both theoretical concepts on measuring for example market power and competition as well as methods for data driven analysis of relevant processes. The theoretical analysis uses techniques from microeconomics on firm behavior, price setting and innovation, but also considers public policy of market authorities that aim at reducing market power of a firm within a single market. The empirical part focuses on how the effectiveness of public policy can be evaluated and introduces students with big data and machine learning techniques that can be used to analyze processes relevant for firms. A thesis in this specialization can be theoretical or empirical and can focus on firm behavior or on public policy.-Public Policy: It is generally felt that effective public policies to address the great societal challenges are urgently needed, but not ready on the shelf. What can policy makers do to live up to the challenges encountered in our pension systems? What is the role for policy in the developing world, where billions still suffer? How to deal with the climate change from an economic perspective? How to make sure that in a rapidly urbanizing world, cities will become or remain places where people can live healthily, safely and happily?