Master of Science in Economics

The Economics programme studies the functioning of the global economy. The programme focuses on the macroeconomic analysis, unlike the programme Business Economics which mainly studies the functional domains of businesses. The Economics programme analyses the behavior and interactions between consumers, businesses, financial institutions and the government, in an international context.

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Master's Programmes

1 year 60 credits

Faculty of Economics and Business Administration

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About the course

Programme

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Off to a good start

After graduation

What

The Economics programme studies the functioning of the global economy. You will discuss all economic actors and their interactions: families, businesses, financial institutions, government and society. The master’s programme provides you with an advanced insight into economic theories, models and techniques that you can use to analyse and evaluate complex social issues with regard to the interactions and behaviours between economic actors. You’ll learn how these actors make economic choices (consume, production, labour, investments, import, export …), what the consequences are for society and how problems in this matter can be solved best.

For whom

The admission requirements depend on previous degrees (type of degree, country of issue etc ...) or additonal experience.

Structure

The master’s programme has, in addition to a common part with general courses, two majors that allow you to tailor your curriculum, according to your own interests. You can choose three courses from one major and an elective course from a broad range of courses. The common part deepens your knowledge of microeconomics, macroeconomics and econometrics in three advanced courses. In Micro-economics you study the behavioural implications, dual approach and the general equilibrium of consumer and producer behaviour. This also includes an introduction to the game theory and you will explore the problem of asymmetrical information. In Macroeconomics you learn to understand and master the key developments in macroeconomics during the last 40 years. The focus is on modern growth theory, new classical macroeconomics and modern business cycle analysis. In Econometrics we broaden your knowledge of the econometric techniques for time series analysis.

The major Financial institutions and markets aims at students who aspire a job in the financial sector. You study the different financial assets and their risk-return characteristics from the perspective of the institutional investor. Good investment decisions require knowledge of the most important financial markets (stocks, bonds, corporate securities, exchange rates, commodities, emerging markets) and the evolution of economic variables such as government budget, interest rates and inflation. In addition, you will explore the main issues and the complex interactions in the management of banks and identify important trends within the changing regulatory environment of banks. In doing so, you will study all aspects that a central bank is faced with when conducting its monetary policy, in particular the ECB.

The major Economic policy aims at students looking for a job that determines economic policy, in the very broad sense of the word (not only government, but also social partners, central bank, international institutions, financial institutions, ...). You study the role of the government in the economy: efficient allocation, government intervention and failure, inequality and poverty, social choice, and optimal taxation. We will teach you how you can deal with the current problems that welfare states face through an adapted policy. You also master the aspects that a central bank is faced with when conducting its monetary policy (in particular the ECB). In addition, the environmental and energy policy is discussed extensively: the central focus is on the optimal use of scarce resources and the related concepts of cost-efficiency, cost-effectiveness and information problems. Finally, you will discover the effects of fiscal policy on key macroeconomic variables such as economic growth and employment. Finally, the master’s dissertation is a very important element. Via that dissertation you can show that you are able to apply the acquired knowledge to a problem independently.

If you want to combine your master’s degree with a teacher’s degree, then there is the option of following an ‘Educatieve master’ instead of the above described master. The ‘Educatieve master’ however is a Dutch taught programme. More information can be found on www.ugent.be/educatievemaster.

Labour Market

Graduates from the Economics programme can be found in macroeconomic organisations where there’s a need for experts with social-financial-international-economic insights. In the financial sector (banks, insurance companies and central banks), we find economists back into research services, management, credit analysis, economic analysis, asset management, etc. In addition, many Economics graduates can be found in governmental organisations, international institutions, social partners (trade unions and employers’ associations), education and research. In governmental organisations they hold numerous functions that involve the preparation, implementation, monitoring and evaluation of many aspects of the economic and socio-economic policy. Some examples of jobs: procurement analyst, chief economist of a bank, economic analyst at the National Bank, policy advisor of the Flemish Government, investment specialist and environmental economist at a NGO.

Course Quality

Kwaliteitszorg

People who dare to think about the challenges of tomorrow, that is what we aim for. That is why education at our university is firmly anchored in six major objectives.

Think broadly. Thinking as broadly as possible and offering the opportunity to question oneself. Not only Dare to Think, but also dare to change the way of thinking.
Keep researching. Research is the foundation of our education. Ghent University keeps linking its way of educating to the dynamics of science.
Support Talent. Everyone starts with equal opportunities. Every students gets the opportunity to develop their talents, regardless of gender, cultural or social background.
Build with us. Students, staff, the government and the corporate world all get the chance to contribute to the contents and form of our high quality education. Ghent University is known for its particularly active students in student participation, of which we are very proud.
Push boundaries. We want to prepare our students internationally and interculturally. We give them the opportunity to gain experience across borders. We also open our doors for students from all over the world and welcome teachers and academic staff from abroad.
Choose quality. Constant quality assurance and improvement is an integral part of our culture and we communicate about it openly. We are proud of the level of our university.

Ghent University sees the quality of education as an internal self-evaluation process, in which faculties and programs compare the goals they have set themselves to the achieved results and adjust the policy accordingly. The portfolios constitute an important link in this process. The achieved results are based on quantitative and qualitative information from relevant stakeholders (students, teachers, professional field, international experts, alumni, etc.).The ‘peer learning visits’, the yearly quality meeting and the Education Quality Office (‘OKB’) make sure the PDCA cycle is closed at various policy levels and help to keep the improvement policy sharp.

A detailed description of how Ghent University is constantly paying attention to quality assurance and quality culture can be found in the Ghent University Conduct of Educational Quality Assurance (ERGO).

Quality of this study programme

This quality assurance system provides information on the assets, the strengths and the points for improvement for every study programme. A summary for this study programme can be found below:

Outstanding aspects

Multiperspectivism: We train our students to be critical economists who keep track of the economic evolutions. We learn our students the necessary skills to work creatively and in a problem solving way.
Talent development: Our students have a certain freedom to compose their study programme to become economists with a broad vision.
Knowledge creation: The programme sets great store by a gradual construction of knowledge. Our students are constantly urged into critical introspection. Our programme’s graduates are masters with a thorough analytical and quantitative specialisation.
Programme: In the programme the core domains of economics are considered of significant importance, the specialisations set clear goals, and international exchange is possible.
Integration theory and practice: The programme pays special attention to group assignments during which economic issues analysed. By means of those assignments we sharpen the students’ critical mindset and problem solving thinking and we keep our finger on the economic pulse.

Strengths

Preparation: In order to start off the first academic year well-prepared students can take part in our summer courses and in the introductory week.
Motivated team of teachers: The programme is supported by committed teachers from different economic disciplines. Our teachers combine their research expertise with a passion for education and an enthusiasm to keep dedicating themselves to the quality of their classes.
Possibility of hands-on experience: Our permanent emphasis on exercises, cases and group works enables us to apply the theoretical knowledge on economic issues to concrete cases, both from the Belgian as the international practice. By means of the projects and the master’s dissertation we want to involve the students permanently in the scientific research into economics.
Evaluation: Our students appreciate that they are well-informed about the way in which they are evaluated and about the content of the evaluations because they know exactly what to expect.
Approachability: Being a small programme, we dedicate ourselves to a direct and intensive contact between our teachers and our students.

To work on

Internationalisation: We want to encourage our students even more to gain international experience, for instance, by organising double degrees in the master programme.
Monitor painstakingly the master’s dissertation process: The programme values the conduct of empirical research by students and encourages them to do so. That is why we want to dedicate ourselves even more to the students’ quantitative empirical competences.
Feedback: The students are right to indicate that they receive too little feedback on their assignments. That is why teachers confer more with each other on the assignments’ timing, what the expectations are, and how the students will receive feedback.