2013 – 2014
Economics and
Business
Economics
This brochure contains information about the
Bachelor’s degree programme in Economics
and Business Economics. There are separate
brochures providing details about the Master’s
programmes. For more information see
www.rug.nl/masters.
Economics and Business Economics
in Groningen
1 Reasons for studying Economics
and Business Economics
1 Business Economics specialization
1 Economics specialization
1 International Economics and
Business specialization
2 The degree programme in
Groningen
2 Facilities
2 About Groningen
The content of the degree
programme
6 The Dutch education system
6 Propaedeutic phase
7 Post-propaedeutic phase
10 Careers weeks
10 Master’s phase
13 Study abroad!
Student life

› 3,400 international students
› 115 nationalities
› 9 faculties
› Bachelor, Master and PhD programmes
› 9 Graduate Schools
› 92 English-taught degree programmes
› 15 English-taught double degree
programmes
Information for international prospective students
Qiyue Yan (26)
senior student
‘I am from China. I decided to come to Groningen to study for
several reasons. First of all the education is entirely in English.
It also appealed to me that Groningen has a long history, but
at the same time stresses new frontiers of knowledge in both
teaching and research. In addition, everything I read pointed to
openness toward students with different backgrounds. Finally,
practically speaking, I was able to afford the cost of studying at
Groningen.’

International applicants
Admissions requirements
Applications will be assessed on an
individual basis. The admissions procedure
includes an evaluation of your academic
credentials, including your secondary
school grades and English proficiency
(TOEFL: 580/237/92; IELTS: 6.5; Cambridge
Proficiency A/B/C or Cambridge Advanced).
You should have passed mathematics as a

(administration € 300 once)
Food
€ 200 / month
Money
€ 55 / month
Insurance
€ 75–100 / month
Language course
€ 100–450 / course
Security deposit
€ 325 / year
Bicycle
€ 45–110 / used bike
Total
€ 10,000–11,000 / year
Cost of living: relatively low
GRONINGEN
AMSTERDAM
ECONOMICS AND BUSINESS ECONOMICS IN GRONINGEN
Reasons for studying Economics and Business Economics
How can an enterprise best market a new product? Which growth
figures does HTC need to convince its stakeholders to invest more in
the telephone market? Why do European firms open branches in Asia?
These are the kinds of challenges that are faced by entrepreneurs and
business managers at all levels of a company. How they solve them has
important implications for both their own company and others, as well
as local, national and international economies and society at large.
If you choose the three-year Economics and Business Economics
programme at the University of Groningen you will see how business
experts and policymakers attempt to stimulate both corporate and

regulations, cope with different legal systems and balance multiple
A company such as Philips has various investment options. But will
more employees, different machines or a new marketing strategy actually
lead to more profit? And what are the risks? Economics and Business
Economics are not just valuable tools for addressing decision-making
issues within organizations, but also for the analysis of global topics
such as the world financial crisis, the environment, health care and
international business needs.
The Faculty of Economics and Business building
1
A COMPLETE PROGRAMME
Economics and Business Economics in Groningen is a complete programme.

You begin with a broad foundation year in which global and local
economics and business issues are covered, and can then choose to
specialize in the discipline that interests you most.
2
ECONOMICS AND BUSINESS ECONOMICS IN GRONINGEN
currencies. The international economics and business specialization
gives you the tools to understand and possibly influence the behaviour
of international companies, intergovernmental organizations and non-
governmental agencies in a global business environment. For instance:
where in the world would you advise Appelsientje to harvest oranges?
It also includes analyses of how the international economic environment
affects the strategies of firms and other international actors.
The degree programme in Groningen
With their active research agenda the academic staff members have
many theoretical and empirical publications to their credit. Their
awareness of advances in the field and their collective knowledge and
know-how is reflected in their teaching and mentoring. They have

Replica of the Batavia, a Dutch East India Company ship launched in 1628.
The Dutch have been involved in international trade for a long time.
The Dutch East India Company, the VOC, was the first multinational
corporation and the first company anywhere to issue stock and pay
dividends. (Photo: Jaap Roskam)
Acquisition of supermarkets
One of the most stirring economic events in The Netherlands has to be the recent acquisition of the
supermarket chain C1000 by its competitor Jumbo. The Dutch Competition Authority (NMa) has
examined the situation and, after thorough economic analysis, concluded that Jumbo is allowed to
acquire over 400 C1000 stores. One condition remains, however, as Jumbo has to sell 18 stores where
competition could be severely affected. The NMa does not foresee any problems on national level, as
Jumbo’s future market share of 23% is still relatively limited after the acquisition.
A personal
approach
Omiros Kouvavas (27)
first-year student of Economics and Business Economics
‘My Bachelor’s degree programme in Economics and Business Economics is actually my
second Bachelor’s programme. I always wanted to work in the field of economics, so after
my first degree I decided to go for it.
My home country is Greece, but I decided to come to the Netherlands because of the
combination of high quality education and affordable tuition fees. I chose the University of
Groningen because out of all the Dutch universities its approach was the most personal, as
demonstrated by its admission process.
The programme is pretty intensive, but it is well structured and allows motivated students
to excel. I will start the Honours programme soon, which has a heavier workload. I found
that I had some free time on my hands and the Honours programme seemed an extra
opportunity to develop myself academically.’
ECONOMICS AND BUSINESS ECONOMICS IN GRONINGEN
3
4

should sell your bikes abroad. Maybe customers
elsewhere would be willing to pay higher prices.
You might want to use trade intermediaries to
reach foreign buyers, but you still need to consider
transportation costs and whether tariffs, quotas or
differences in government standards would make it
difficult to export your bikes. Maybe you could make
bikes where the customers are, rather than shipping
them worldwide. Should you find a partner in the
new location? What about the currency or currency
fluctuation?
ECONOMICS AND BUSINESS ECONOMICS IN GRONINGEN
5
5
EXCELLENCE ALLOWED!
Gifted and exceptionally
motivated students are given
the opportunity to make the most
of their talents via the University
of Groningen Honours College.
Completing this challenging
programme will result in an
additional Honours diploma.
Students follow special Honours
workshops and other deepening
courses alongside their usual
Bachelor’s degree courses. They
also organize guest lectures and
company visits. Students also
follow a number of broadening

of each block. The first semester runs from September to February,
the second from February to July. We use the European Credit and
Transfer System (ECTS), which expresses student workloads and learning
outcomes in terms of credit points. One credit point (EC) represents
28 hours of time spent studying, attending classes, participating in
group work, working on individual and team projects, and the like. Each
course is worth 5 EC; the Bachelor’s thesis is worth 10 EC. A Bachelor’s
degree comprises 180 EC.
Teaching takes place in the form of lectures, tutorials and practicals. It
is important that you prepare ahead for lectures, as all of the material
cannot be covered in the time allotted. Lectures focus on the main points
and particularly difficult aspects of the assigned literature, whereas the
material is discussed in more detail in tutorial groups. In the tutorials
you talk about the literature and lectures, and go over individual
assignments and joint work. Practicals give you an opportunity to work
on assignments and presentations in even smaller groups. There is
usually at least one written exam per course. Your final mark is usually
calculated from your exam results and marks for assignments.
Propaedeutic phase
The first week is the Faculty Introduction Week. This week not only
marks the start of your degree programme, but you will also get to
know your new environment through all kinds of workshops and
activities and you start planning your study career. During the first
year of the programme you will take the same courses as your fellow
The Bachelor’s degree programme in Economics and Business Economics
consists of two phases: the propaedeutic phase (first year) and the post-
propaedeutic phase (second and third years). In the second year you
must choose between the three specializations of business economics,
economics, and international economics and business.
D€pr€$$ion!

accounts. In Marketing you will learn about product design, pricing,
promotion and distribution, and about how to meet the needs and
expectations of customers.
International Economics and International Business
In International Economics you will learn about the global economy
and how it functions as well as about international institutions and
international trade theory and policy. In International Business you
will learn that multinational firms attempt to spread the fixed costs of
developing new products and processes among customers worldwide,
but that they are often hampered by international differences in tastes
and conditions of use.
Finally, English is vital because all of the material is delivered in English.
All of these courses above form your toolkit. This knowledge and these
skills will enable you to write your first research paper at the end of the
first year.
At the end of the first year you will be issued with a binding study advice.
We presume that you will obtain all your credits. If you have not earned
45 of the 60 credit points, you will have to leave your degree programme.
You must also complete the first-year programme within two years. (The
BSA threshold may be raised to 50 EC in 2013, and the BSA may also be
introduced for the second and third years.)
Supermarket offers: clever marketing?
How do you influence consumer behaviour? Which special offer can you best implement?
Supermarkets that give away limited offer free stickers or toy figurines at the till will often see an
immediate increase in profits. But there is little consideration of the long term here. This is the job of
business economists. Do the new customers attracted by the special offers stay faithful to the super-
market? With a big collection of football cards the increased profits will last longer than with a set of
Smurfs that is soon complete. But what about the risks? If the special offer doesn’t catch on, you will
be left with a warehouse full of ‘Wuppies’ or sets of saucepans
Petra Besselink (21) third year student in Economics and Business Economics

Human Resource Management
Management Accounting
Marketing Research
Operations and Logistic Management
Philosophy and Ethics of Business
Study Abroad / Minor
Economics
Empirical Research Paper
Growth, Institutions and Business
History of Economic Thought
Labour Economics
Macroeconomics
Mathematics
Microeconomics
Political Economics
Public Finance
Study Abroad / Minor
International Economics and Business
Development Economics
Economic Organization Theory
Empirical Research Paper
Global Development Studies
Growth, Institutions and Business
International Business Strategy
International Trade
Multinational Firms and Global Business
Philosophy and Ethics of Business
Study Abroad (IE&B Minor)
THE CONTENT OF THE DEGREE PROGRAMME
BACHELOR’S DEGREE PROGRAMME in Economics and Business Economics

make in order to maximize their corporate value. In Financial Statement
Analysis you learn to analyse financial reports and thus understand
risk and profitability. In Operations and Logistics Management,
Second and third years
10
Careers weeks
In order to be well-prepared for your career, a careers week twice a year
is part of the programme. Workshops, lectures and meetings will give
you more insight in your personal skills and ambitions, the jobs that you
are studying for and how to empower your employability.
Master’s phase
Although you may decide to start working straight after gaining your
Bachelor’s degree, additional knowledge and improved research skills
could increase your career opportunities. The University of Groningen
offers a variety of suitable Master’s programmes. Our Master’s in
Finance is the perfect choice if you wish to broaden your expertise in
the financial and economic aspects of business economics at a high
academic level. The Master’s in Economics is a high-calibre programme
in economic theory and policy. Another suitable programme is the
Master’s in International Economics and Business, which will prepare
you for an international career in either the private or public sector. We
also have double degree possibilities - which means you receive two
Master’s degrees - with the University of Göttingen (Germany), Corvinus
University of Budapest (Hungary) and Fudan University (China).
Other programmes you might be interested in are the Master’s in
International Business and Management, the Master’s in International
Financial Management, the Master’s in Business Administration, the
Master’s in Marketing, the Master’s in Supply Chain Management, the
Master’s in Human Resource Management, and the two-year Research
Master’s programme in Economics and Business in preparation for

them. By following the Philosophy and Ethics of Business you will learn
about organization theories and examine the ethical and moral problems
that arise in a business environment. In the IE&B specialization you have
to study abroad during your Minor in the third year.

Minor and study abroad
In the first semester of the third year you have the possibility to follow
a Minor, which is a set of modules of 30 EC (one semester). You can
complete the Minor in different ways, largely following your own
interest. First of all, the Minor allows you to become acquainted with
a completely different discipline, either at a different faculty of the
University of Groningen or at a university abroad. This will enable you to
discover another field of learning and use the knowledge, methods and
research covered in that Minor to broaden your understanding. It is also
possible to follow the Minor offered by your own degree programme or
to study abroad for a semester deepening your knowledge of Economics
and Business Economics. If you choose to specialize in International
Economics and Business, a study period abroad is compulsory. We
have many partner institutions throughout Europe and Latin America,
in Australia, Canada, China, the Republic of Korea, New Zealand, South
Africa, the United States and many other countries. If you specialize in
Business Economics or in Economics you choose to follow your Minor
either at the University of Groningen or outside the Netherlands.
www
› www.rug.nl/feb/bscecobe
› www.rug.nl/feb/msc (Master’s degree programmes in
Economics and Business)
11
ACCESSIBLE MASTER OF SCIENCE DEGREE PROGRAMMES
› Finance

A difficult degree? Some students find the programme demanding. First-year courses such as Macroeconomics, International Economics,
Finance and Financial Accounting in particular can be difficult. You may find that your ideas are challenged, and to do well you will need all of your maths
skills. You may also find that it takes extra time to read and write in English.
CAREER SERVICES
The path from a degree to the labour market is a challenge that starts as
soon as you start your studies. In your bachelor and master programme,
there are various opportunities to prepare for your career, for example
during the careers weeks that are part of your study programme every
year. Or by doing an internship, visiting a congress, studying abroad or
participating in career events. Our Career Services can help you on your
way. Please visit www.rug.nl/feb/career.
13

STUDY ABROAD!
There are roughly a thousand Groningen students taking
classes and doing senior projects and internships outside
the Netherlands each year. If you choose to specialize in
International Economics and Business, you are required to
spend the first semester of the third year abroad. You may
also choose to do so if you specialize in Business Economics
or Economics. We believe that these are valuable educational
and life experiences, and thus actively facilitate them. You can
apply to spend a semester at one of Groningen’s dozens of part-
ner universities or choose from other institutions with which
we have established relationships.
It is important that you begin planning your semester abroad
well in advance. The Exchange Office can give you valuable
information about the many programmes and grants that are
available. They can inform you about practical matters such as
visas and put you in touch with students and academic staff in

study problems, for example exams, funding or study delay, the faculty’s
study advisors are there to help. General questions can be asked at the
University Student Desk.

Your life as a student in Groningen will start with the general
introduction week for all first-year students at the University of
Groningen (KEI week).
Student associations
In order to get to know your fellow students, you may want to join the
introduction camp organized by EBF, the faculty association of the
Faculty of Economics and Business. This association organizes many
activities, such as congresses, company trips and lectures by speakers
from the international corporate or political world. As a member, you
also get a ten percent discount on your study books. Economics and
Business Economics students will be especially interested in associations
such as Risk, AIESEC and MARUG.
GRONINGEN, YOUR
STUDENT CITY
193,250 inhabitants
56,000 students
35,000 or so student residences
54 student sport associations
36 pizza shops
199 bars
8 discotheques
2,743 café terrace seats
7 laundries
94 employment agencies
65 driving schools
31 bicycle repair shops

continue with a Master’s degree. Since all our programmes are AACSB
accredited, your degree will be worth even more on the labour market.
Earning a Master’s degree appreciably increases your career options
and allows you to reach higher levels in business, government and non-
governmental agencies. A Master’s degree in Finance offers graduates
attractive career opportunities in many different areas. You could end
up as a financial or asset manager. Or maybe corporate governance,
risk analysis or stock trading is your thing. You will be ready to start
work at multinationals such as Procter&Gamble, Google, Coca-Cola,
Toyota or Lacoste. If you’ve studied Finance your will find a wide range of
opportunities open to you.
A Master’s degree in Economics may lead you to the world of banking,
where you might become an analyst or financial advisor, or you could
work in the policy department of a central bank, perhaps analysing
the impact of monetary and economic policy. You might choose the
government sector, beginning in an advisory role and moving on to
a management position. You could help develop important social
programmes and devise ways of administering them.
A Master’s degree in International Economics and Business will provide
you with the credentials to work for a multinational or any number of
governmental institutions or international organizations. You might
become an analyst for a research institute, consulting firm or university.
Graduates have the possibility to participate in the high-level contract
research activities of international organizations, such as the Conference
Board (New York) and the International Labour Organization (ILO,
Geneva). Other companies where you could end up working are the
Organisation for Economic Co-operation and Development (OECD),
World Bank, CESifo Institute Munich or the Social and Economic
Council of the Netherlands. If you choose the Research Master’s degree
programme you could move into academia and perhaps decide to go

analysis, managing
client relationships
and managing
associate consultants on the team. Currently
he’s pursuing an MBA at the prestigious
Harvard Business School.
Another way to do it
17
AFTER GRADUATING
A challenging
and diverse
job
Laurens-Jan Sipma (25)
graduate working at NIBC
‘After graduating in 2010 I began an internship at NIBC, a merchant bank of Dutch origin.
The internship provided me with the opportunity to show the company what I was capable
of. After three months I joined the NIBC Infrastructure & Renewables team, which is part of
the Specialized Finance department.
Our team finances projects ranging from road and prison building to telecom infrastructure.
For example, in 2010 we were one of the banks that financed the A15 Public Private
Partnership (PPP) project, a motorway connecting Maasvlakte 2 to Rotterdam.
On an average day, I work on several projects, all of which generally are at different stages.
This makes my job very challenging and diverse. During my studies I was taught many
aspects of the business environment and I consider this to be very useful in my work. In
my Master’s in Finance I specialized in corporate finance and quantitative skills. I think
it’s important to specialize during the Master’s phase and to take part in extracurricular
activities, as this will make you more attractive to companies.’
18
ADMISSION
WITH A DUTCH VWO DIPLOMA

Dutch university or Dutch HBO, you will be charged a higher tuition
fee. The height of the tuition fee varies per programme.
2
www
› rug.studielink.nl (application for Dutch students)
› www.rug.nl/hoezithet (practical information
for Dutch students)
› www.duo.nl (financial assistance for Dutch students)
X
VWO/HBO
REQUIRED LEVEL OF MATHEMATICS
The website www.rug.nl/feb/mathtest will provide you with information,
exercises, suggested reading and sample tests related to the Faculty’s
required mathematics level. The Faculty offers a Mathematics Entrance
Examination twice a year for students with a maths deficiency. The exams
are only open to students already living in the Netherlands.
18
Admissions information for international applicants can be found in
the inside cover of this brochure.
INTERNATIONAL APPLICANTS
19
INFORMATION AND ENROLMENT
Would you like to have more information about this and other
programmes? Come and visit our information events.
Information Day
Friday, 2 November 2012; registering in time is compulsory
› All bachelor programmes
› In and around the Academy building, city centre Groningen
› Each programme will offer a short presentation and give individual
information

events if we have your address.
Enrolment
Dutch students can enrol for this study programme on
rug.studielink.nl. Studielink is an online national desk where you can take
care of everything that has to do with registering for higher education.
It also offers the possibility to apply for financial assistance
(DUO).
International students can enrol via www.rug.nl/howtoapply.
20
Friday, 2 November 2012
Information Day
November 2012 until August 2013
Enrolment of Dutch students via
rug.studielink.nl
Enrolment, before 1 May, of students
from outside the Netherlands at
www.rug.nl/howtoapply
(For ‘numerus fixus’ (limited admission)
degree programmes the enrolment
deadlines are earlier!)
Thursday, 13 December 2012
Student for a Day
Friday, 1 February 2013
Open Day on Location

Thursday, 14 March 2013
Student for a Day
Friday, 7 June 2013
Last Minute Groningen, Information Day
August 2013

2121
MORE INFORMATION
In addition to this brochure there are also two general
information guides, titled Studeren in Groningen (available in
Dutch; with information about all Bachelor programmes), and
International Bachelor Degree Programmes (available in English;
with information about the English bachelor programmes).
Apart from comprehensive information about study possibilities
at the University of Groningen, these brochures contain
information about admission, application, registration,
accommodation, student life, facilities for the disabled, language
courses for students from minority groups, the labour market
and more.
To order the general information guides, please visit
www.rug.nl/studiekiezers (for the Dutch guide) or
www.rug.nl/internationalstudents (for the English guide).www.facebook.com/studiekiezersRUG

www.univgroningen.hyves.nl

www.twitter.com/univgroningen

www.youtube.com/universitygroningen
www.unifocus.nl (online video magazine)