Econometrics is the mathematical approach or description of economic problems. Econometricians try to solve these by means of mathematical methods and models. These are not only macroeconomic models, but economic problems are more diverse. Econometricians also work in logistics, for example in distribution, stock control or decision making problems. Other areas of interest for econometricians are marketing research agencies, insurance companies, strategic consultants, actuarial advisors, pension funds and banks.
Tilburg University offers three masters in the field of econometrics:
- Quantitative Finance and Actuarial Science (QF/AS)
The central issue in the Master QF/AS is risk management. Investors use risk management techniques to trade-off risk and return. Insurance companies use risk management to limit the risks when determining the premiums.
- Business Analytics and Operations Research (BAOR)
Operations Research is in the first place an applied science. Subjects taught in this Master are quantitative logistics, dynamic capital investments, optimisation, simulation, stochastic modelling en queuing theory.
- Econometrics and Mathematical Economics (EME)
The programme Econometrics and Mathematical Economics focuses on the mathematical and quantitative analysis of economic problems. While Econometrics make an explicit link between statistical techniques and the economic problem formulation, Mathematical Economics structure the economic problem, using models that incorporate both competitive and cooperative aspects.