Study in Groningen actuarial science, data science, econometrics and operations research. Use real-life data and advanced data science models to make sound decisions in business and society.
How much influence will taxation prices have on car usage? What econometric models can assist in predicting future resource demands and optimizing resource allocation for sustainable use? What is the minimal route length to deliver parcels on time? In the MSc Econometrics, Operations Research and Actuarial Studies (EORAS), you can combine your interests in mathematics, economics, statistics, and data science and develop strong analytical skills as well as a passion for solving complex problems. The programme in Groningen has an international and interdisciplinary approach, is small-scale and allows you to build on a future career that matches your goals and aspirations.
You will learn to apply mathematical and statistical models to address challenges in business, economics, finance, insurance, and related fields. As an example, one of the projects focuses on optimizing the waste collection system in Groningen municipality. Students obtain data from the municipality (data science) to analyze the stochastic deposit process (econometrics), estimate overflow probabilities (actuarial sciences), and compute efficient truck routes (operations research). This is just one of the many projects in our programme where you will learn how to combine mathematics, computers, and consultancy skills to address societal and environmental problems. Additionally, you'll encounter various aspects of the UN Sustainable Development Goals (SDGs) throughout the programme, and staff support thesis topics related to these SDGs.
The knowledge and skills you gain in any of the four profiles (actuarial science, data science, econometrics and operations research) are highly transferable and provide a level of job security. You learn also about the ethical implications of using data in decision-making processes, a skill which is highly valued. Our alumni find jobs right after graduation and work as data scientist, analyst, AI technical consultant, policy advisor, manager of operations, to name a few.
How does the MSc EORAS score in the Higher Education Guide (Keuzegids)? Students rated the MSc EORAS in Groningen higher for four different themes compared to other study programmes in econometrics offered by Dutch research universities.
During the uncertain times of the pandemic, I decided to stay in Groningen, and it turned out to be a fantastic choice! The MSc EORAS programme allowed me to dive deep into theoretical concepts, which I enjoy, and gave me the flexibility to pursue a dual degree with the MSc in Finance, an opportunity that not many universities offer.
The number of students doing the MSc EORAS is quite low, which means that it is an open atmosphere in which it is easy to ask questions, participate actively and get a lot of attention in case you struggle with a topic. This makes it easy to learn a lot if you put in the effort, and also makes it easy to get to know a lot of fellow student, which makes studying more enjoyable of course.
I now work at Milliman, which is a small firm operating in the insurance sector. My role is varied, involving the development of valuation and risk models, and applying econometric techniques I learned during my studies. I did the Actuarial Studies profile and I work in the insurance sector now, which is why I still apply these techniques a lot. The skills I gained—especially problem-solving and programming—are invaluable to my daily work.
To current MSc EORAS students, I’d say: take your time. Explore the opportunities, whether by tackling multiple specializations or combining it with another programme at FEB. Groningen offers an ideal place to grow academically while enjoying a vibrant student life.
After completing my BSc in Econometrics and Operations Research (EOR) at FEB, continuing with the EORAS master's was the obvious choice. The programme offers a great mix of practical, real-world data courses and strong technical focus, which is unique in the Netherlands. Plus, staying longer in the country’s best student city was an added bonus. I’ve always had a strong affinity for problem-solving. There’s something deeply satisfying about optimally routing a vehicle, organizing stock, or using real data to make sound decisions. The EORAS programme gave me the perfect platform to develop these skills in a real-world context.
The atmosphere within the programme is incredibly open and inviting. The staff are approachable, and while students are motivated to work hard, there’s also a strong social element. Vesting, the student association, plays a huge role in bringing everyone together, which I really appreciated.
I’m currently working as a Head of the Energy Department at Seatrade, a global shipping company, where I lead a team that is responsible for managing and analyzing energy and emissions data. We also develop software to make this data accessible for all employees and advise the management on strategic decisions. The technical focus of the EORAS programme, especially in analyzing complex systems, has been invaluable in my consultancy work. Programming and statistical analysis are part of my daily routine, and the ability to break down large, complex systems is something that really sets EORAS graduates apart.
My advice to current EORAS students? Relax a little and focus on the problems you find interesting. It’s easy to feel pressure when you’re surrounded by the best of the best, but once you enter the corporate world, you’ll realize that you’re well-equipped to handle the challenges. Especially if you’re working in a field you’re passionate about.
Did you know you can follow an economics programme in Groningen? Find out more about our MSc Economics.
