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Language of instruction: English

• MSc International Business• MSc Human Decision Science• MSc Management of Learning• MSc Economic Studies• MSc Information and Network Economics• MSc Financial Economics• MSc Fiscale Economie• MSc Econometrics and Operations Research• MSc Global Supply Chain Management and Change• MSc Business Research• MSc Economic and Financial Research

Master's programmes in Business and Economics

Why study atMaastricht University?

Problem-Based LearningProblem-Based Learning (PBL) clearly illustrates Maastricht University’s innovative character.PBL is more than just acquiring knowledge; it’s about exchanging knowledge in a challengingand effective way. By exploring a number of real-life social issues with your fellow students,you learn to think like an academic and acquire essential skills such as presenting viewpoints,debating, writing texts and working in international teams.

Top qualityMaastricht University is renowned for excellence and innovation in learning. High rankingsin Dutch and international publications attest to our focus on quality. We cherish andstimulate talent. Our graduates are highly skilled professionals that can be found in businessand academia around the world.

International outlookMaastricht University is the most international university in the Netherlands. We offer uniqueEurope-focused and internationally-oriented master’s programmes, most of which are taughtin English. About half of the students and one-third of the academic staff come from abroad.In all, more than 100 nationalities are represented at Maastricht University. This cultural diversityin students and teaching staff greatly contributes to establishing our ‘international classroom’.

UM Alumni get resultsUM alumni typically pursue careers focused on Europe and the world, and do well in bothnational and international companies and in academic and cultural institutions. According toa ROA (Maastricht University Research Centre for Education and the Labour Market) report,87% of Maastricht University graduates have found employment within a year of graduation,8% continue studying, and the unemployment rate of UM alumni decreases from 4.1% to 0.4%within five years of graduation.

The city of MaastrichtMaastricht is one of the oldest and most charming cities in the Netherlands. It has a beautiful mixof historical and modern architecture. It is safe and compact – almost everything can be reachedon foot or by bike. But Maastricht is also a lively student city with a distinctly European feel.

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Message from the dean 4

MSc International Business 5• Accountancy 6• Controlling 8• Entrepreneurship and SME Management 10• Finance 12• Information Management

and Business Intelligence 14• Marketing-Finance 16• Organisation: Management, Change

and Consultancy 18• Strategic Marketing 20• Strategy and Innovation 22• Supply Chain Management 24

MSc Human Decision Science 26

MSc Management of Learning 28

MSc Economic Studies 30• Competition and Regulation 32• Public Economics 33• Managerial Economics 34• Social Economics 35• European Economic Policy 36• Global Innovation Economics 37

MSc Information and Network Economics 38

MSc Financial Economics 40

MSc Fiscale Economie 44

MSc Econometrics and Operations Research 46

MSc Global Supply Chain Managementand Change 52

MSc Business Research 54

MSc Economic and Financial Research 56

Contents

Maastricht University is signatory of the “Code of conduct with

respect to international students in Dutch higher education”.

More information about this code of conduct is available

at www.internationalstudy.nl

All programmes in this brochure are accredited by the Accreditation

Organisation of the Netherlands and Flanders (NVAO).

For more information on NVAO, please visit www.nvao.nl

Our promise to you

We are building an international networkschool where we look towards the future andbeyond borders, where inspiration and theexchange of value lead to success.

Our values

• Forward thinking. We look towards thefuture, beyond conventions and beyondborders. Making progress is all aboutforward thinking.

• Value exchange. In everything we do, we aredetermined to add value to our internationalnetwork and community. In return, we areenriched by and appreciate the value thatwe receive from others.

• Inspiring. We strive to inspire ourcommunity and partners all over the world,not through what we say, but through ouractions. Challenging people inspires people.

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You want a master’s degree recognised aroundthe world. And you want skills and experiencethat will prepare you for further studies or asuccessful career. At the School of Business andEconomics (SBE), you’ll find all this and more.

International and diverseMaastricht is a charming and vibrant city. Locatedat the crossroads of the Netherlands, Belgium andGermany, it’s a microcosm of cultures andlanguages. And so, too, is SBE. Our staff andstudents come from almost 50 different countries.All our programmes have an international focus,with almost all courses taught in English. And wehave academic and corporate partners all over theworld, which gives you great opportunities tostudy or intern abroad.

Innovative and dynamicProblem-Based Learning (PBL) is the methodologyfor which we are famous. This means smalltutorial groups, close contact with your tutors,and a highly interactive style of learning. PBLtrains you to be an active and independentparticipant. These skills are a huge plus in today’sjob market.

Practical and professionalEmployers like our graduates because they aretrained in valuable, real-life skills: managingyourself and your team, giving and receivingconstructive criticism, meeting deadlines,producing concrete results, and takingresponsibility, but also taking risks. To prepare you for the international labour market, we haveinitiated the International Classroom Develop-ment Programme, in which you will learn to workin teams composed of various differentnationalities. We also put you in direct contact

with employers through internships, recruitmentevents and company visits. Career services areincorporated into all programmes. And our alumnicircles organise regular networking opportunities.

Research and reputationAt SBE, you learn from the best. Our research isconsistently rated first or second in national peerreviews. What’s more, we are among the 52business schools worldwide that have beengranted the prestigious Triple Crown accreditation(EQUIS, AACSB and AMBA). We also consistentlyget high praise in the Dutch, German andinternational rankings.

Start here … go anywhereIn short, SBE provides the highest qualityeducation and a springboard to the next step.You’ll find that the knowledge, skills andexperience from your SBE master’s will put you onthe best possible footing. We look forward towelcoming you here.

Prof. Jos LemminkDean, School of Business and Economics

Message from the dean

Master's programmes in Business and Economics

MSc International Business

Business without borders

International business covers all aspects ofcommerce across borders. A broad subject, theprogramme has been divided into a series ofspecialisations, meaning that you can focus onyour own interests and future ambitions.Though each specialisation is unique, they allcentre on business in an internationalenvironment through the extensive use of casestudies, real life business problems, skills trainingand a master’s thesis. You will graduate with thebroad analytical and theoretical skills required foran international business career and a deepunderstanding of your chosen specialisation.

International Business is a versatile programme,with many specialisations available in either afull- or part-time format. All specialisations starttwice yearly in February and September.

International Business applicants should be:

• interested in business across borders• able to think analytically• prepared to work hard• focused on an international career

Career prospects

Your understanding of international businessissues, combined with the interpersonal andleadership skills gained during your studies, willmake you an asset to any organisation. Many ofour students find jobs before they graduate.

Graduates have found positions as:

• marketing managers• (financial) consultants• product managers• business engineers

…at…

• consultancy firms, such as Capgemini andAccenture

• large multinationals, such as Shell and Philips• SMEs• governmental and non-governmental

organisations

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distinctive feature, good

Specialisations Language DurationAccountancy English 1 year full-time

Accounting and Control Dutch 2 year part-time only

Controlling English 1 year full-time

Entrepreneurship and SME Management English 1 year full-time or 2 year part-time

Finance English 1 year full-time or 2 year part-time

Information Management & Business Intelligence English 1 year full-time or 2 year part-time

Marketing-Finance English 1 year full-time

Organisation: Management, Change and Consultancy English 1 year full-time

Strategic Marketing English 1 year full-time or 2 year part-time

Strategy and Innovation English 1 year full-time or 2 year part-time

Supply Chain Management English 1 year full-time or 2 year part-time

6 Master's programmes in Business and Economics

Specialisation

AccountancyInterpreting information for betterbusiness decisions

Do you want to get right to the core of business –working within the central nerve system of anycompany? Do you aspire to become an auditor orfinancial consultant? Accountancy puts you onthe fast track to success.

Accountants use financial information as thebasis for company decisions about people andproducts and have a central role indecision-making processes. They have twodistinct roles:

• financial consultants interpret information,enabling resource allocation decisions essentialto achieving organisational goals

• auditors check and verify the reliability of thatinformation

What will you learn?

• international accounting principles• to design internal accounting systems that help

managers make good business decisions• to prepare and interpret financial statements• to provide assurance on the reliability of

reporting mechanisms

Accountancy applicants should be:

• enthusiastic team players• knowledgeable in the way organisations work• trained in quantitative reasoning• critical thinkers

A bachelor’s degree in any discipline is required,though a high level of achievement is moreimportant than the subject itself.

NB. The course outline applies to the September start date at the time of publishing. Details of the specialisation could change, or may differ for the February start date. Before applying, please check our website for the latest information.

Course outline

There are certain compulsory courses within the specialisation, as well as an elective.

Accountancy

Term 1 1 Internal Control Assurance Services

2 Financial Statement Analysis and Valuation Elective

3 Skills Training: Writing a Master’s Thesis

Term 2 4 Financial Accounting Writing the Master’s Thesis

5 Management Control Writing the Master’s Thesis

6 Completing the Master’s Thesis

Career prospects

Accountancy students will have intensive interac-tion with companies, including company visits,networking with potential employers, and guestlectures and workshops given by audit firms.

These opportunities will open up employmentpossibilities before graduation.

After graduation, you can take either a Dutchpost-graduate programme or an internationalpost-graduate programme to become aRegistered Auditor (see www.umra.nl).

You can obtain this qualification part-time whileworking. At the post-graduate stage, links withthe corporate world are even stronger, integral tofirm management and executive development.

Fast facts• Programme: MSc International Business• Specialisation: Accountancy• Language: English• Duration: 1 year full-time• Start date(s): in February and September• Study load per week: 8 hrs classes; 12 hrs group work;

20 hrs individual study. Total 40 hours• Learning method: problem-based learning; guest

lectures; presentations; assignments; papers• Assessment method: written exams; final papers;

group participation• Options: - 2-year part-time programme (Fridays only, in Dutch) - Double degree programme with EDHEC Business

School and Queen’s School of Business for SBE IB orEBE bachelor’s graduates

More information:www.maastrichtuniversity.nl/sbe/master

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“Maastricht University is internationally recognized for its quality education. I noticed whenapplying for my first job, and again when applying for the international study programme‘Chartered Global Management Accountant’ in London.”

Elise van Laarhoven, Shell Chemicals Europe BV


Specialisation

ControllingAssessing information for informeddecisions

Do you want to know where business informationcomes from and how to interpret it? Are youinterested in management control? Do you aspireto work at the heart of any business organisation?

Controllers are often compared to the navigatorson ships: they know where the ship is and whereit needs to go. Controllers gather, prepare,interpret and assess information, allowing themto advise managers on the best decisions to make.Controllers play a major role in profitabilityanalyses, performance evaluation, and theviability of mergers & acquisitions.


• to design management control instruments –such as scorecards, managerial incentives andbudgets

• to implement strategies and assessing andreporting on their effectiveness

• to design and improve internal reportingsystems

• to improve management decisions

Controlling applicants should be:

• generally interested in how businesses work• able to think critically• educated in quantitative reasoning• a team player and be interested in people

A bachelor’s degree in any discipline is requiredthough a high level of achievement is moreimportant than the subject itself.


Course outline


Controlling

Term 1 1 Cases in Management Information Systems Internal Control

2 Strategic Performance Analysis Elective


Term 2 4 Financial Accounting Writing the Master’s Thesis

5 Management Control Writing the Master’s Thesis


Career prospects

Controllers work in many businesses. Companiescontribute seminars and lectures to thecurriculum and organise case studies workingwith people in the field.


• controllers, finance managers and financedirectors in multinationals such as Philips,Unilever, and Shell

• general managers in major firms• CEOs and CFOs• controllers in firms

Controlling graduates can also either take a Dutchpost-graduate programme (see www.emfc.nl) oran international post-graduate programme (seewww.iemfc.nl), both focused on qualifying as aChartered Controller.

Fast facts• Programme: MSc International Business• Specialisation: Controlling• Language: English• Duration: 1 year full-time• Start date(s): in February and September• Study load per week: 8 hrs classes; 12 hrs group work;


lectures; presentations; assignments; papers• Assessment method: written and oral exams; final

papers; group participation• Optional: double degree programme with EDHEC

Business School and Queen’s School of Business forSBE IB or EBE bachelor’s graduates


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Specialisation

Entrepreneurship and SME ManagementGaining entrepreneurial experience whilestudying

Do you want to become an entrepreneur or anentrepreneurial manager in a small or mediumsized enterprise? Do you want to start your careerduring your studies? Entrepreneurship and SMEManagement teaches you how and whymanagement of entrepreneurial and SMEventures requires a different approach than inlarge corporations. Advanced courses addressmanagerial issues related to strategy,organisation, marketing, finance and accountingin the context of entrepreneurial ventures andSMEs. You will also put academic theory intopractice either as a group of students starting upyour own company or by assisting themanagement team of an existing SME in growingits business.


• to identify and enhance entrepreneurialopportunities

• to develop, build and grow new business• to apply academic literature in the context of

entrepreneurship and SME management

Entrepreneurship and SME Managementapplicants should be:

• excited by the prospect of blended learningrather than just academic papers and books

• able to interact with others, open to exchangingfeedback

• ambitious and results oriented (without anine-to-five mentality)

Students with any bachelor’s degree can apply,although disciplinary backgrounds, prior workexperiences and international experience helps.


Course outline


Entrepreneurship and SME Management

Term 1 1 Entrepreneurial Theory and Research International Business Research

Entrepreneurial or SME Management

2 Entrepreneurial Finance Elective


Term 2 4 Value-Based Marketing Writing the Master’s Thesis

5 Control and Accountability in SME’s Writing the Master’s Thesis


Career prospects

The Maastricht Centre for Entrepreneurshipprovides an excellent infrastructure fornetworking with students, graduates andbusiness partners. The SME Portal helps regionalfirms to use the know-how of its academics andstudents to improve and grow.

Our graduates have found positions as:

• entrepreneurs or owner/managers of a familybusiness

• business developers in established firms (bothSMEs and multinational enterprises)

• management consultants or researchers atpublic policy research institutes

• analysts at venture capital firms and banks• PhD students

Fast facts• Programme: MSc International Business• Specialisation: Entrepreneurship and SME

Management• Language: English• Duration: 1 year full-time• Start date(s): in February and September• Study load per week: 8 hrs classes; 16 hrs group work;



papers; group participation• Options: - 2-year part-time programme - Double degree programme with EDHEC Business



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“The dynamic and international environment at SBE has helped me considerably with my workat a fast-paced, global company like Google.”

Billy van den Ende, Google


Specialisation

FinanceTraining the finance professionals of thefuture

Are you interested in the link between financeand modern business? Do you want to know howcompanies adhere to financial regulations whilefocusing on growth?Are you curious about the specific financial issuesfacing organisations operating across borders?

Finance is the ideal preparation for engaging in aglobal economy where business and finance areinextricably linked. Business professionals todayneed to understand, analyse and managefinancial problems, from formulating attractivesalary structures for employees to raising capitaland identifying new investment opportunities.Lecturers who also work in the industry teachmany of the finance courses.


• financial research methods• to analyse and solve a wide range of financial

problems• to use analytical and quantitative tools to

support decision-making processes• to discuss financial issues at a strategic and

managerial level

Finance applicants should be:

• interested in finance in a business environment• analytical, logical thinkers• comfortable working in an international

environment• strong team players able to master real-life

cases• self-starters, as the specialisation requires

individual input


Course outline


Finance

Term 1 1 Corporate Governance and Restructuring Financial Research Methods

2 Corporate and Venture Finance Elective


Term 2 4 Behavioural Finance Writing the Master’s Thesis

5 Risk Management Writing the Master’s Thesis


Career prospects

As a result of tighter financial regulations andcalls for more transparency, graduates with theskills to tackle a wide range of business financialproblems are in high demand. Your ability tounderstand financial details while maintaining astrategic overview will make you an asset toalmost any organisation.

Graduates have found positions in:

• international financial institutions• large multinationals• consultancy firms• regulatory bodies

Fast facts• Programme: MSc International Business• Specialisation: Finance• Language: English• Duration: 1 year full-time• Start date(s): in February and September• Study load per week: 8 hrs classes; 14 hrs group work;

18 hrs individual study. Total: 40 hours• Learning method: problem-based learning; guest


papers; group participation; attendance• Options: - 2- year part-time programme - Double degree programme with EDHEC Business



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“I’ve learned skills I can really apply.”

Hilde Sijbring, Rabobank International


Specialisation

Information Managementand Business IntelligenceHow to compete with informationtechnology

Rapid growth in the adoption of newtechnologies has resulted in a skyrocketingdemand for Information Technology (IT) andBusiness Intelligence/Analytics (BI/BA)professionals. Do you want to help organisationsenhance their decision-making capabilitiesthrough the use of IT? Do you want to learn howorganisations can effectively manage the ITfunction?

Information systems act as the central nervoussystem of contemporary organisations. We trainstudents to help organisations in designing,developing and managing this central nervoussystem. Real-life case studies keep thisspecialisation current.


• to apply business intelligence techniques tosolve a wide range of business problems

• to address the challenges involved in managingtechnology (projects)

Information Management and BusinessIntelligence applicants should be:

• interested in the use of IT to solve businessproblems

• well-versed in strategic decision-making andbusiness modelling

A bachelor’s degree in international business or asimilar programme is desirable, but notmandatory.

Course outline


Information Management and Business Intelligence

Term 1 1 Cases in Management Information Systems Business Analysis

2 Data Management Business Intelligence Case Study


Term 2 4 IT project management Writing the Master’s Thesis

5 Managing ICT in a global environment Writing the Master’s Thesis


Career prospects

There are a significant shortage of IT and BIprofessionals in the labour market. New businessapplications of technology will only add to thedemand. The specialisation has direct links withDSM, Vodafone, AirFrance-KLM, Sabic Europe andseveral IT consultancy firms, who provide guestlectures. You will have access to excellent jobopportunities.


• IT consultancy firms like Capgemini andAccenture

• major IT vendors like Google and SAP• strategy departments of multinationals, such as

Shell• governmental and non-profit organisations

Fast facts• Programme: MSc International Business• Specialisation: Information Management and Business

Intelligence• Language: English• Duration: 1 year full-time• Start date(s): in February and September• Study load per week: 8 hrs classes; 8 hrs group work; 24

hrs individual study. Total: 40 hours• Learning method: problem-based learning; lectures;

presentations; papers• Assessment method: written exams; papers;

participation• Options: - 2-year part-time programme - Double degree programme with EDHEC Business



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“I feel like I’ve been well prepared for the labour market.”

Arjan Tiessen, Rabobank


Specialisation

Marketing-FinanceIdentifying marketing actions that drivefinancial performance

Are you interested in how companies can createvalue for their stakeholders? Do you want to knowthe secret of launching successful products? Areyou intrigued by how people make financialdecisions? This unique specialisation will help youfind the answers to these questions.

This specialisation is the first of its kind tointegrate core elements from both the marketingand finance disciplines. You will explore topicsincluding financial decision-making, new(financial) product/services development,relationship marketing, and the impact ofmarketing actions on shareholder value.


• to translate marketing activities into financialperformance

• to develop innovative (financial) products andservices

• to assess risks in relation to market returns• to take part in strategic decision-making

Marketing-Finance applicants should be:

• interested in an interdisciplinary specialisation• prepared for a challenging learning experience• willing to excel

A background in finance, economics, marketing orsocial sciences is a plus. Some prior knowledge ofmarketing and finance, such as a major or minorin your bachelor’s studies, is recommended.

Course outline


Marketing-FinanceTerm 1 1 Shareholder Value and Market-Based Assets Customer Analysis

2 Institutional Investors Research for Marketing Decision Making


Term 2 4 Behavioural Finance Writing the Master’s Thesis

5 Financial Product Development: A Marketing-Finance Approach

Writing the Master’s Thesis


Career prospects

You will graduate from this specialisation withthe skills necessary for a career in marketing,banking, financial services, and risk management.Your ability to understand finance and marketingtheory and methods and translate them intoadded value will make you an asset in both theprivate and public sector.


• large multinationals• banks, brokerages and insurance companies• management consulting• European institutions

Fast facts• Programme: MSc International Business• Specialisation: Marketing-Finance• Language: English• Duration: 1 year full-time• Start date(s): in February and September• Study load per week: 8 hrs classes; 12 hrs group work;

20 hrs individual study. Total: 40 hours• Learning method: problem-based learning; real life

case studies / projects, guest lectures; presentations;assignments; papers

• Assessment method: written and oral exams; finalpapers; group participation; attendance

• Optional double degree programme with EDHECBusiness School and Queen’s School of Business forSBE IB or EBE bachelor’s graduates


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“The opportunity to study both Marketing and Finance is exactly what the doctor ordered!”

Christopher Peña, Bring it Promotions


Specialisation

Organisation:Management, Change andConsultancyDeveloping your leadership abilities

Are you a critical thinker curious about howorganisations function? Do you have the ambitionto become a top manager or leader in thecorporate world? Do you want to get the best outof the people you work with?

Managing people is essential to organisationalsuccess, though the question of how to managean organisation´s most important asset - itspeople – poses constant challenges. Thisspecialisation equips you with solid knowledge onthe management of people in organisations,combining academic rigor with practicalrelevance. You will think critically and reflect onorganisations and people at work.


• current academic research on the managementof change and learning

• the role of managers in organisations andleadership

• insights into the functioning of organisationsand the people within

• a solid, theoretical basis for analysing changeand learning within organisations

Organisation: Management, Change andConsultancy applicants should be:

• genuinely interested in how managers,employees, and consultants think, act, andinteract

• engaged in why companies function internallyin a specific ways

• interested in psychology as it applies to business

You can apply for this specialisation with abachelor’s degree in any discipline. Anunderstanding of quantitative methods is a plus.


Course outline


Organisation: Management, Change and Consultancy

Term 1 1 Organisational Change and Consultancy International Business Research

2 Managing Organisational Change Elective


Term 2 4 Leadership Writing the Master’s Thesis

5 Managers @ Work Writing the Master’s Thesis


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Fast facts• Programme: MSc International Business• Specialisation: Organisation: Management, Change

and Consultancy• Language: English• Duration: 1 year full-time• Start date(s): in February and September• Study load per week: 8 hrs classes; 12 hrs group work;

20 hrs individual study. Total 40 hours.• Learning method: problem-based learning; guest


presentations; group participation• Options: - Double degree programme with Universidade Nova

de Lisboa for both SBE bachelor’s graduates andbachelor’s graduates from other universities

- Double degree programme with EDHEC BusinessSchool and Queen’s School of Business for SBE IB orEBE bachelor’s graduates.


Career prospects

The specialisation maintains relationships withwell-known companies, consultancy firms, andpublic organisations. Industry experts are invitedto give guest lectures on management.


• well-known firms in the Netherlands, Europe,and the world

• general management functions from humanresource management to managementconsulting.


Specialisation

Strategic MarketingBuilding customer relationships to createvalue

Do you know what role marketing plays ininternational business? Have you ever wonderedwhy customer relationships are so important tobusiness success? Do you want to find out howmarketing can be utilised to create the mostvalue?

Strategic Marketing revolves around two coreareas: relationships and value. Other classicmarketing components, such as internationalmarketing, brand management and new productdevelopment, are also addressed.


• to see marketing problems in context• to understand and propose alternative solutions

to these problems• to build and maintain strong customer

relationships• to think pragmatically and apply the theory you

have learned• to conduct market research that gets you the

answers you need• to manage international teams and marketing

strategies

Strategic Marketing applicants should be:

• engaged in learning about marketing• able to think analytically and creatively• eager to try new approaches• good with people• interested in working in a fast-paced

international environment• well-versed in statistics

Course outline


Strategic MarketingTerm 1 1 Relationship Management Customer Analysis

2 Return on Marketing Research for Marketing Decision Making


Term 2 4 Value-Based Marketing Writing the Master’s Thesis

5 Marketing Innovation Management Writing the Master’s Thesis


Career prospects

As a Strategic Marketing graduate you will knowhow to think practically and creatively, which isessential for conveying a strong marketingmessage. You will have the business andmanagerial skills for a range of exciting jobs,including product or brand manager, marketinganalyst and account manager.


• consulting firms• B2C and B2B companies• large multinationals• research institutes or departments

Fast facts• Programme: MSc International Business• Specialisation: Strategic Marketing• Language: English• Duration: 1 year full-time• Start date(s): in February and September• Study load per week: 10 hrs classes; 15 hrs group work;



group participation• Options: - 2-year part-time programme - Double degree programme with EDHEC Business


- Double degree programme with QUT Business Schooland Universidade Nova de Lisboa for both SBEbachelor’s graduates and bachelor’s graduates fromother universities


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“The academic standard of the teaching staff is very high and they have always time to give yousupport.”

Colin Bom, Slow Food UK


Specialisation

Strategy and InnovationCreating competitive advantage throughchange

Are you curious about how companies areaffected by globalisation? Are you eager toanalyse how organisations can gain a competitiveadvantage in uncertain, dynamic environments?Do you want to find out how innovation canimpact future business sustainability?

The Strategy and Innovation specialisation willprovide you with a deep analytical understandingof the strategic decisions facing internationalcompanies and the importance of innovation insustainable business development. Using real-life,relevant case studies, you will explore issues suchas competitive analysis of a company’s marketenvironment, entrepreneurship, mergers andacquisition and sustainable development as astrategic tool.


• to think critically about strategic business issuesand put them into context within anorganisation

• to maintain an overview of a company and itscapabilities

• to understand the international businessenvironment and the importance of innovation

• to work in a team and communicate withpeople of multiple nationalities

Strategy and Innovation applicants shouldbe:

• interested in international business• team players with good interpersonal skills• able to think creatively and find new approaches

to old problems

A bachelor’s degree in business or abusiness-related subject is desirable but notessential.


Course outline


Strategy and Innovation

Term 1 1 International Competitive Analysis and Strategy International Business Research

2 Entrepreneurship and Innovation Elective


Term 2 4 Alliances and M&A’s Writing the Master’s Thesis

5 Business Innovation and Sustainable Development Writing the Master’s Thesis


Career prospects

Companies are looking for managers with a goodgrounding in international business that are ableto connect a company’s operations to its positionin the external environment.


• business or strategy consultancy firms• large multinationals• SME’s• supply chain departments• HRM departments• non-governmental organisations

Fast facts• Programme: MSc International Business• Specialisation: Strategy and Innovation• Language: English• Duration: 1 year full-time• Start date(s): in February and September• Study load per week: 8 hrs classes; 8 hrs group work; 24

hrs individual study. Total: 40 hours• Learning method: problem-based learning; guest


group participation• Options: - 2-year part-time programme - Double degree programme with Universidade Nova

de Lisboa for both SBE bachelor’s graduates andbachelor’s graduates from other universities

- Double degree programme with EDHEC BusinessSchool and Queen’s School of Business for SBE IB orEBE bachelor’s graduates


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"This specialisation has taught me a great deal about how international corporations work andhow they can innovate and grow.”

Maarten Scholts, Moonen Packaging


Specialisation

Supply Chain ManagementPeople and products – key links in thesupply chain

Does the global flow of goods and servicesfascinate you? Are you interested in every link ofthe supply chain, from product development todistribution? Can you see the competitiveadvantage of reducing the time to market of newproducts?

In a globalised economy, the process of productdevelopment through to distribution is aninternational process. Supply Chain Managementintegrates a broad range of disciplines coveringevery link in the supply chain. This meansoptimisation of purchasing, logistics andmarketing processes and strategic cooperationwith suppliers, distributors and customers.


• to understand all the links in the supply chainand how they are interconnected

• to offer commercially viable solutions that makeand keep supply chains competitive

• to maintain an overview of supply chainprocesses and evaluate where they could beimproved

• to interpret customer wants and needs, andtranslate these into value propositions

• to communicate with different groups ofinternal and external stakeholders

Supply Chain Management applicantsshould be:

• interested in purchasing, logistics, operationsmanagement and/or supply chain management

• good with people and communication• analytically and strategically minded• open to new ideas and approaches• customer oriented

Course outline


Supply Chain Management

Term 1 1 Purchasing Management Supply Chain Strategy

2 Retailing and Distribution Supply Chain Research Methods


Term 2 4 Supply Chain Operations Writing the Master’s Thesis

5 Supply Chain Metrics Writing the Master’s Thesis


Career prospects

As competition increases in the globalmarketplace, the demand for highly trainedsupply chain managers will grow. You will havethe theoretical, practical and managerial tools toprepare you for a position as a supply chainmanager, logistics manager or purchasingmanager in almost any industry. You will be anasset to companies that are expanding and thecompetitiveness of large multinationals.


• large multinationals• logistical service providers• Original Equipment Manufacturers (OEMs)• first- and second-tier suppliers

Fast facts• Programme: MSc International Business• Specialisation: Supply Chain Management• Language: English• Duration: 1 year full-time• Start date(s): in February and September• Study load per week: 8 hrs classes; 8 hrs group work; 24

hrs individual study. Total: 40 hours• Learning method: problem-based learning; guest

lectures; presentations; assignments; papers; labsessions; company visits

• Assessment method: written exams; final papers;group participation

• Options: - 2-year part-time programme - Double degree programme with EDHEC Business



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“This master’s degree has proved extremely valuable for my current job, where I am responsiblefor the management of Martinair cabin crews.”

Laurent Lebouille, Martinair Holland N.V.


Human decisions are key toour society

Due to increasing knowledge and scientificprogress, we have more and more information atour disposal. At the same time, we face growinguncertainty in the midst of economic crises,climate change, and terrorism. It is bothincreasingly difficult and yet also increasinglyimportant to understand how people makedecisions.

Human Decision Science gives you a thoroughunderstanding of the cognitive and social aspectsof the human decision-making process,combining the best of two worlds: economic andgame-theoretic analysis and psychology. Agenuinely interdisciplinary study, the programmeis offered jointly by Maastricht’s School of

Business and Economics (SBE) and the Faculty ofPsychology and Neuroscience (FPN). You takecourses from both faculties and your thesis isco-supervised by a staff member from each.

The first term consists of mandatory courses,while the second term allows you to choose anelective from various areas of human decisionscience. You will also write a thesis exploring atopic from the elective or a more fundamentaltopic from the compulsory courses.

Human Decision Science applicantsshould:

• have a bachelor’s degree in the social or naturalsciences, such as economics, business,psychology, political science, mathematics,physics or computer science

• be analytical thinkers with an interest in applied

Human Decision Science

NB. The details of the programme could change; before applying, please check our website for the latest information.

Course outline

There are certain compulsory courses within the programme, as well as electives.

Human Decision Science

Economic Perspective Psychology Perspective

Summer period Mathematics / Statistics pre-course (voluntary)

Term 1 1 Theory of Individual and Strategic Decision

Integration Workshop

Cognitive Psychology and Cognition Experiments

2 Negotiation and Allocation Social Psychology and Interaction Experiments

3 Skills Training: Writing a Master’s ThesisTerm 2 4 Application Phase: Electives

5 Writing the Master’s Thesis

6

problems involving the human factor• enjoy the combination of an empirical and a

formal mathematical approach

Career prospects

This programme gives you a head start whereverhuman decisions are important. You will beequipped to work in interdisciplinary teamsdealing with strategic issues and conflicts of allkinds. Your choice of application courses lay thedirection your career path will go.

Graduates might find positions in:

• government institutions and NGOs in policymaking and implementation, agenda settingand campaigning

• HR departments, including incentive schemes,performance assessment and conflict resolution

• banks, insurances, financial decision making• marketing, customer relations, consumer

behaviour• consulting, management coaching• academic research

Fast facts• Programme: MSc Human Decision Science• Language: English• Duration: 1 year full-time• Start date(s): September• Study load per week: 40 hours• Learning method: problem-based learning; guest

lectures; presentations; assignments; papers• Assessment method: written and oral exams, practical

exams, assignments, presentations, final paper, groupparticipation.

• Options: you can extend your studies abroad at one ofour partner universities.


27


Strategic sourcing of humancapital

Are you passionate about learning in theworkplace? Do you see the benefits of personaldevelopment for both individuals and businesses?Would you like to know more about howknowledge creation can keep companiescompetitive?

Management of Learning is designed to meet theneed for organisations to maintain the educationand personal development levels that keepcompanies competitive. This multi-disciplinaryprogramme combines elements from economics,business, human resource management andlearning sciences. You learn to think abouteducation in the business environment andexplore available solutions to human resourcedevelopment problems.

Guest lecturers from international companies,such as DSM, Philips and ABN AMRO, support ourexpert teaching staff. You will be challenged toanalyse and create solutions for a real humanresource development problem.


• to understand changing labour markets andtheir effects on organisations

• to analyse human resource development andmanagement issues

• to think strategically and offer solutions basedon solid theoretical and quantitative knowledge

• to discuss on a managerial level

Management of Learning applicantsshould:

• be internationally focused• be interested in people• have good interpersonal skills and enjoy

working as part of a team• have a desire to bring about positive change in

the workplace

MSc Management of Learning

Course outline

NB. The details of the programme could change; before applying, please check our website for the latest information.

Management of Learning

Term 1 1 Economics of Labour Markets and Human Capital

Organisational Change and Consultancy

Study Coaching

2 Managing Organisational Learning Theories and Models of Learning

3 Skills Training: Writing a Master’s ThesisTerm 2 4 Selected Topics in Strategic HRM Writing the Master’s Thesis

5 Supporting Learning in the Workplace Writing the Master’s Thesis


Career prospects

Management of Learning graduates are highlyemployable. They understand the learning anddevelopment issues companies confront. Youranalytical and quantitative skills, coupled with theability to put these into practice in the workplace,will make you an asset to large or multinationalorganisations.


• human resource managers• programme managers• learning consultants

…at…

• international organisations, such as the OECDand the EU

• large multinationals, such as Shell and Philips• consultancy firms, like Capgemini and Accenture• governmental and non-governmental

organisations

Fast facts• Programme: MSc Management of Learning• Language: English• Duration: 1 year full-time• Start date(s): in September• Study load per week: 8 hrs classes; 12 hrs group work;


lectures; presentations; assignments; papers• Assessment method: written exams; papers; group

participation; attendance


29

“My master’s degree from SBE has provided me with a solid international background to carry outmy current job.”

Helle Vefald, DSM Business Academy


Public and privatepolicymaking throughstrategic decisions

Economic knowledge is vital when it comes tomaking policy decisions on an individual,organisational and societal level, be it in thepublic or private sectors. Economic Studies givesyou a broad and thorough basis in economics, aswell as the possibility to apply your knowledgeaccording to your interests and career goals.


The curriculum includes six courses: twofoundational courses, one methodological course,two specialisation courses and one elective. Thecompulsory foundational courses introduce you tothe ideas central to all economics. Themethodological course focuses on the tools ofeconomic analysis, including data analysis andstatistics, case studies and tools for policyevaluation. The specialisation courses focus onmore detailed knowledge of the chosen area. Theprogramme is flexible, giving you the freedom tocombine courses from different specialisations.

Economic Studies applicants should be:

• curious about economic issues and theirunderlying forces

• able to look beyond international borders• keen to express their own ideas• interested in both the public and private sectors

on a strategic policy level• interested in one of our specialisations

Career prospects

Economists are the strategic decision makers ofthe future. As a graduate of Economic Studies, youunderstand people as well as policies. Graduateshave found positions in:

• consultancy firms• government institutions and regulation

authorities• strategic and human resource management

departments• the financial sector• international organisations, such as the OECD• non-profit organisations• university and research institutes

MSc Economic Studies

Specialisations Language Duration

Competition and Regulation English 1 year full-time

Public Economics English 1 year full-time

Managerial Economics English 1 year full-time

Social Economics English 1 year full-time

European Economic Policy English 1 year full-time

Global Innovation Economics English 1 year full-time

Fast facts• Programme: MSc Economic Studies• Language: English• Duration: 1 year full-time• Start date(s): in February and September• Study load per week: 8 hrs classes; 12hrs group work;


lectures; presentations; assignments

• Assessment method: written and oral exams, final papers, group participation• Optional double degree programme with the

Université Catholique de Louvain for both SBEbachelor’s graduates and graduates from otheruniversities


31

“The economic and financial management focus of the MSc Economic Studies programme hasbeen very useful in my work. Maastricht’s Problem-Based Learning method is often used as alearning method for parliamentarians.”

Cindy Kroon, The World Bank Institute


Specialisation

Competition and RegulationInfluencing the future of competitionpolicies in the global market

Should collusion and abuse of dominance be athing of the past? Do you want to have a hand inregulating the way companies compete in thefuture? Do you wish to shape the market andinfluence the conditions under which it operates?

Competition and Regulation provides you withthe knowledge and the skills for a career incompetition policy or consulting. You will obtain aunique ‘toolkit’ of econometric andmicroeconomic techniques and acquire a‘theoretical’ background in game theory,industrial economics, auction design andregulation of network utilities necessary tointerpret the economic world. You will able tounderstand the mechanisms behind competitionand analyse the behaviour of companies in orderto design policies.


• to perform and improve competition policyanalysis and judgements

• to analyse real economic situations andbehaviours

• to assess the implications of competition• to propose remedies to competition issues

Competition and Regulation applicantsshould:

• have an interest in the economic aspect ofcompetition law

• be able to think analytically• like to work independently• be keen to put economic theory to work in

real-world situations

An educational background in microeconomics isan advantage but other disciplines, such as law,are also welcome.


Course outline


Competition and Regulation

Term 1 1 Advanced Microeconomics Advanced Macroeconomics

2 Market Regulation and Information Economics Elective


Term 2 4 Human Behaviour and Economic Policy Writing the Master’s Thesis

5 Strategic Firm Behaviour & Competition Policy Writing the Master’s Thesis


Specialisation

Public EconomicsPeople and planet meet profit in aninternational environment

Are you curious about how we should deal withissues like climate change, internationalterrorism, democratic transitions, migration, anaging population and social insurance? Do youquestion whether the market can regulate itself,or whether policy-makers should step in?

The Public Economics specialisation provides youwith scientific knowledge necessary to tackleimportant public policy issues in a rigorous way.This specialisation incorporates formal theoreticalreasoning, behavioural and experimentalexamination, and empirical policy evaluation.Your lecturers are all active researchers andexperts, publishing in international journals andinteracting with governments or internationalorganisations.


• to evaluate whether a public policy issue can bebest solved by the market or throughintervention from the public sector

• to evaluate government policy-making andrecommendation improvements

• to identify elements of irrationality in consumerbehaviour and possible corrections to theseelements through government intervention

Public Economics applicants should:

• be engaged in political, social, andenvironmental issues

• be curious about the underlying mechanisms ofpublic policy

• demonstrate a good understanding ofquantitative methods

A bachelor’s degree in economics or businesseconomics is helpful, but all disciplines arewelcome.

33


Course outline


Public Economics


2 Political Economy Elective



5 Public Policy Evaluation Writing the Master’s Thesis



Specialisation

Managerial EconomicsEconomics for real-world businessmanagement

Resources are scarce – so how do you negotiatewith your fellow managers for more money ornew staff? How do you select the best candidatefrom a pool of applicants? How do you rewardyour workers for good performance, and how doyou pay them: per hour or for the products theyproduce?

Managerial Economics is about using economictheories to optimise in-company businesspractices. In contrast to management studies anduniquely to this specialisation – you take anabstract, meta-level approach. You examineproblems from a bird’s-eye view, placing them inthe broader theoretical context of the class ofproblems to which they belong, then connectingthem to certain classes of solutions that can beimplemented in practice.


• to use economic models and theories tounderstand how business processes work

• how these processes can be influenced• how the human factor fits into these models

and theories• to allocate tasks among employees• to balance long-term relationships with

short-term profit• the role of ICT, corporate culture and other

factors in the decision-making process

Managerial Economics applicants should:

• desire to apply economic theories and models toreal business

• be interested in the human factor and economicfactors of an organisation

• aspire to a high-level management role


Course outline


Managerial EconomicsTerm 1 1 Advanced Microeconomics Advanced Macroeconomics

2 Negotiation & Allocation Elective



5 Economics @Work Writing the Master’s Thesis


35

Specialisation

Social EconomicsThe economics of human behaviour

Are you interested in social issues such aseducation, work, crime, health, housing andfamily? Do you want to understand people’s dailydecisions from an economic point of view?Social Economics provides you with theoreticaland empirical knowledge to carry out economicanalyses of how personality and economic forcesshape human behaviour.

Social Economics addresses the economics ofdaily life, including performance of schools,labour participation in an aging population, fraudin firms, marriage and divorce, the obesityepidemic and traffic jams. Topics from everydaylife are analysed from a theoretical andquantitative perspective, the principles for soundeconomic policies.

Researchers involved in this specialisation have aninternational reputation in labour and educationeconomics. The programme is linked to the ROAand UNU-Merit research institutes, variousgovernment organisations and large firmsworldwide.


• to understand the economics of humanbehaviour

• to analyse social questions from an economicperspective

• to advise firms, organisations and governmentson issues such as education, labour, crime,housing.

Social Economics applicants should:

• have a broad view of societal trends• be interested in exploring societal issues from

an economic point of view• be intrigued by the interplay between

psychology, sociology and economics

A bachelor’s degree in economics is an advantagebut other disciplines are welcome.


Course outline


Social Economics


2 Economic Analysis of Social Behaviour Elective


Term 2 4 Economic and Social Policy Research Writing the Master’s Thesis

5 Nature of Human Motivation Writing the Master’s Thesis



Specialisation

European Economic PolicyEU economic policy in the home of theMaastricht Treaty

Fascinated by the economics of the EuropeanUnion? Where better to study than in Maastricht,home of the Maastricht Treaty?

European Economic Policy at MaastrichtUniversity combines the study of macroeconomic,fiscal, monetary and social policies in a Europeancontext.The EU is one of the biggest markets inthe world economy. Moreover, the economicpolicy of the European Union has a profoundimpact on the lives of its citizens.

The specialisation covers the importance of fiscaland monetary policy, labour market andinnovation policies, and Europe in the context ofglobalisation. The programme is connected withMaastricht University research institutes, andwith EU institutes.


• to assess the impact of EU economic policies,particularly those related to globalisation andrelations with rising economies in Asia andAfrica

• to define the main challenges and opportunitieswithin the EU

• about the speed of the integration process indifferent countries

European Economic Policy applicantsshould:

• have an interest in European economic policy –its development, debates and challenges

• have an interest in both theoreticaldevelopments and empirical research

• have sufficient analytical skills• have a working knowledge of macro- and

microeconomics• be able to work both independently and in

teams• be organised, self-motivated and open-minded

A bachelor’s degree in economics is an advantagebut other disciplines are welcome.


Course outline


European Economic Policy


2 Macroeconomic Policy in Europe Elective



5 Growth and Innovation in Europe Writing the Master’s Thesis


Specialisation

Global InnovationEconomicsMaking economic globalisation work

Do you worry about the effects of globalisation ondeveloping countries and the environment, or areyou enjoying life in the global village?Globalisation has significantly changed the world.Foreign direct investment, international trade andmigration have influenced the world economyand pose new challenges for all.Global Innovation Economics provides both abroad overview and the detailed knowledgerequired for a career in the global economy.Thespecialisation focuses on links between majorproblems facing the world today - such as poverty,lack of development, global warming and thefinancial crisis - and international economics. Youwill learn to address these issues starting from abroad international and macroeconomicperspective.

The specialisation also provides opportunities forinternships and thesis work at UNU-MERIT, a jointinstitute of the United Nations University andMaastricht University


• to understand the economic aspects ofimportant global issues

• to analyse international economicdevelopments, such as the global recession

• to understand how globalisation affectscorporate strategies and policy

• to evaluate global economic governance andpolicies

Global Innovation Economics applicantsshould:

• feel at home in an international environment,“think globally”

• be interested in global economic problems• want to identify and solve policy problems• have a basic knowledge of micro and

macroeconomics• have analytical skills and the ability to work

with numbers

37


Course outline


Global Innovation Economics


2 International Trade, Technology and Distribution Elective



5 Emergence of the Global Economy Writing the Master’s Thesis



Are you fascinated by new informationtechnologies and how they affect our daily life?Do you wonder how the Internet has affected theway in which firms do business? Do youappreciate the importance of information in theknowledge society? Do you want to find out howinformation and economics complement eachother?

Information and Network Economics is one of thefew programmes in the world focusing oninformation and information technology from aneconomic and business perspective. Theprogramme examines how companies,consumers and government organisations are allchallenged by rapid technology developmentsand how they are affecting our collective andindividual behaviour.


• to think conceptually about the impact ofinformation technologies on productivity andprofitability

• to understand the economic nature ofinformation and information networks

• to understand how information affects markets• to critically analyse complex economic and

business problems• to apply theory in innovative and practical ways

Information and Network Economicsapplicants should:

• be interested in a multidisciplinary programme• be curious about the impact of new information

technologies• see business opportunities in technological

change• want to work in an international environment• have an economics background, or at least a

strong interest in economic issues

MSc Information and Network Economics

NB. Details of the programme could change; before applying, please check our website for the latest information.

Course outline


Information and Network Economics

Term 1 1 Internet Economics IT Performance in Business and Economics

2 Intellectual Property Rights in a Network Society Elective


Term 2 4 Writing the Master’s Thesis Elective

5 Writing the Master’s Thesis Elective


Career prospects

There is a huge demand for specialists who candevelop information technology policies andstrategies. Your ability to deal with thesetechnologies and understand what they mean forindividuals, companies and society is amuch-needed skill.


• IT consultants• business development managers• IT Managers• policy advisors

…at…

• governmental and non-governmentalorganisations

• consultancy firms, such as Capgemini, KPMGand Accenture

• large multinationals, such as Shell and Philips• IT firms, such as SAP, Google and Business

Objects• new media and telecommunications companies,

such as Vodafone and Deutsche Telecom

Fast facts• Programme: MSc Information and Network Economics• Language: English• Duration: 1 year full-time• Start date(s): in September• Study load per week: 8 hrs classes; 12 hrs group work;


lectures; assignments• Assessment method: written exams; final papers;

group participation


39

“The unique combination of courses prepared me well to deal with real-life issues and opened upvery promising career opportunities for me.”

Sören Weber, Accenture


Are you intrigued by what occurs in financialmarkets? Do you wonder what causes bankingcrises or the euro crisis? Do you want to knowmore about the role central banks play? Do youfollow the latest news concerning stock markets,derivatives, interest rates, inflation, or exchangerates? Do you want to put this knowledge to gooduse in the business world?

Financial Economics consists of courses in finance,general economics, and quantitative techniquesand accounting. This multidisciplinary approachmeans that students receive both a broadeducation and the opportunity to specialise. Eachspecialisation contains three identical obligatorycourses, two specialisation courses and oneelective. Professors who also work in the financialsector teach several of the courses.

Financial Economics applicants should:

• have a keen interest in financial markets,institutions and the general economy

• show familiarity with quantitative methods

A bachelor’s degree in economics, business,econometrics or maths is a plus, though relateddisciplines are also welcome.

Career prospects

Graduates’ day-to-day activities include (but arenot limited to):

• managing of share issues and bond issues• sell-side analysis – working for investment

banks, providing advice to the public• buy-side analysis – working for pension funds,

banks and other financial institutions• performing economic research in financial

research departments• risk management – involved in granting loans to

large companies and hedge funds• analysing and offering advice on mergers and

acquisitions• preparing monetary policy decisions at central

banks

Graduates have found positions at:

• commercial and investment banks• pension funds and mutual funds• insurance companies• central banks, ministries, or other international

financial institutions


MSc Financial Economics

Specialisations Language Duration

Asset Pricing English 1 year full-time

Banking English 1 year full-time

Financial Analysis English 1 year full-time

Specialisation

Asset PricingDetermining asset prices and optimalinvestments

What determines the price of financial assets?How do you allocate investments in order tooptimise returns and risk exposure? If these arethe kinds of questions you want to answer, youshould consider becoming a specialist in assetpricing.

Asset pricing is about understanding the factorsin price formation of financial assets, includingwhat drives return, risk, correlations and others. Involatile global markets, one can invest in an enor-mous variety of financial assets with differing riskproperties. Financial institutions need specialistsin asset pricing because a lot of these financialassets appear on bank balance sheets. Moreover,financial institutions sell products, like mutualfunds, whose risk and return behaviour needs tobe well understood and managed for clients.


• to translate complex financial problems intoguidelines for daily investment decisions

• how well-functioning financial systems workwithin economies

• to offer solutions that use economic, financialand econometric skills to make optimalinvestments

• how financial assets are priced

Fast facts• Programme: MSc Financial Economics• Specialisations: Asset pricing• Language: English• Duration: 1 year full-time• Start date(s): in February and September• Study load per week: 8 hrs classes; 12 hrs group work;



papers; group participation

41


Course outline


Asset PricingTerm 1 1 ECB and Monetary Policy Quantitative Techniques for

Financial Economics2 Institutional Investors Elective


Term 2 4 Fixed Income Management Writing the Master’s Thesis

5 Empirical Analysis of Financial Markets Writing the Master’s Thesis



Specialisation

BankingAn integral approach to successfulstrategic Banking

Do you see past retail banking, to the diverseopportunities that the banking world has to offer?Are you interested in monetary policy, riskmanagement or derivatives – and how theyimpact real businesses? Then the bankingspecialisation is ideal for you.

When people think of banking, they are usuallythinking about retail banking. But the bankingworld has far more to offer: investment banking,managing risk for financial institutions, derivati-ves and the effects of monetary policy are justsome of the exciting areas this specialisation hasto offer.Within the Financial Economics programme,Banking offers you an ideal balance between thebroader area of asset pricing and the narrowerarea of investment.


• to make intelligent, well-informed decisions andrecommendations about financial structures

• to understand what distinguishes financialinstitutions from nonfinancial corporations

• to demonstrate in-depth knowledge of(quantitative) techniques in risk managementand derivatives

Fast facts• Programme: MSc Financial Economics• Specialisations: Banking• Language: English• Duration: 1 year full-time• Start date(s): in February and September• Study load per week: 8 hrs classes; 12 hrs group work;





Course outline


BankingTerm 1 1 ECB and Monetary Policy Quantitative Techniques for

Financial Economics2 Global Banking Elective



5 Risk Management Writing the Master’s Thesis


Specialisation

Financial AnalysisThe first step towards your qualificationas a financial analyst

Do you want to develop the skills to interpretfinancial information and use it to providevaluable investment advice? Do you see yourselfin a career as a qualified financial analyst? Ifyou’ve got what it takes, then the FinancialAnalysis specialisation can help you get there.

A qualification in Financial Analysis at MaastrichtUniversity offers a broad approach in finance,economics, quantitative economics andaccounting. Graduates are highly sought after byemployers. It is also excellent preparation forpostgraduate programmes in financial analysisoffered by professional associations in Europe andNorth America, such as the CFA (US/International)and RBA (Netherlands) programmes.


• to interpret financial market information anduse it to provide advice to the investment public

• to demonstrate an understanding of howfinancial markets work

• to translate the value of debt and equity intofinancial market prices

• to develop quantitative investment strategies

Fast facts• Programme: MSc Financial Economics• Specialisations: Financial Analysis• Language: English• Duration: 1 year full-time• Start date(s): in February and September• Study load per week: 8 hrs classes; 12 hrs group work;




43


Course outline


Financial AnalysisTerm 1 1 ECB and Monetary Policy Quantitative Techniques for

Financial Economics2 Accounting for Financial Markets Elective



5 Empirical Analysis of Financial Markets Writing the Master’s Thesis



The economics of taxation

Do you want to get to the bottom of the Dutchtax system? Are you able to think creatively andanalytically? Fiscale Economie will give you agreat start, not just in tax law, but also in lookingat its impact on producers and consumers.

Fiscale Economie is a multidisciplinaryprogramme incorporating an in-depth study oftaxation with a strong foundation in economicsand law. Its quality is recognised by the DutchOrder of Tax Advisers (NOB). The programme istaught partly in Dutch, ideal for Dutch students orforeign students with a very high level of Dutchwho want to work in the Netherlands.

The programme gives you a broad academiceducation in accountancy, finance, corporate andvalue-added tax, tax management and Europeantax law. Elective courses allow you to tailor theprogramme to your interests.


• to find strategic and creative solutions to taxproblems

• to analyse the economic effects of taxes on themarket behaviour of producers and consumers

• to use quantitative methods as a basis forstrategic tax decisions

• to give high level tax advice understanding theimplications of tax law on an organisation’s taxstrategy

• to work closely with tax lawyers

Fiscale Economie applicants should be:

• passionate about economic and tax issues• ambitious to work in taxation in the

Netherlands

A background in law or economics is desirable butnot required.

MSc Fiscale Economie

NB. The course outline applies to the September start date at the time of publishing. Details of the programme could change, or may differ for the February start date. Before applying, please check our website for the latest information.

Course outline


Fiscale Economie

Term 1 1 Tax Accounting and Finance Fiscaal Concernrecht

2 Tax Policy in the International Context International and European Tax Law


Term 2 4 Elective Elective

5 International Tax Planning and Transfer Pricing Writing the Master’s Thesis


Career prospects

The demand for qualified fiscal economistsoutstrips supply, so you will have many jobopportunities. Your extensive knowledge of fiscaltheories and the ability to apply them creativelyto tax problems will make you an asset to bothlarge corporations and small tax consultancies.


• tax advisors• tax inspectors• auditors• consultants

…at…

• large multinationals, such as Shell and Philips• consultancy firms, such as Capgemini and

Accenture• tax departments for national governments or

the European Commission• financial institutions, such as Fortis and JP

Morgan

Fast facts• Programme: MSc Fiscale Economie• Language: Dutch and English• Duration: 1 year full-time• Start date(s): in February and September• Study load per week: 8 hrs classes; 16 hrs group work;





45

“SBE acquainted me with the business world during my studies, as I had the opportunity to writemy master’s thesis at Ernst & Young.”

Jurian Pans, Ernst & Young


Applying mathematicalmethods to economicproblems

Do you have mathematical and statistical skillsthat you want to put to work in a businesscontext? Do you want to learn to forecasteconomic developments or to create IT solutionsto solve production issues? The Econometrics andOperations Research (E&OR) programme allowsyou to do just that.

Econometrics is used in every area of economics,from business and finance to macroeconomicsand microeconomics. Although it is a specialisedfield, the opportunities are endless. There is ahuge demand for people with quantitative skillsto solve economic problems.

In the first block you take two compulsory theorycourses with all other E&OR students. From thesecond block onwards, you pursue your owninterests by specialising.

Econometrics and Operations Researchapplicants should:

• have quantitative skills in maths and statistics• enjoy problem solving• be able to think analytically• be able to apply theory to practical problems

Career prospects

Many students of this programme findemployment before they have even graduated.The shortage of econometricians means you willenjoy numerous and wide-ranging jobopportunities.

MSc Econometrics and Operations Research

NB. Details of the programme could change; before applying, please check our website for the latest information.

Course outline


Econometrics and Operations ResearchTerm 1 1 Stochastic Processes Algorithms in Operations Research

and Game Theory2 Elective Elective

3 Skills Training

Term 2 4 Elective Writing the Master’s Thesis

5 Elective Writing the Master’s Thesis



• econometricians• researchers• financial analysts• operations managers

…at…

• governmental institutions• banks and financial institutions• insurance companies• consultancy firms, such as Capgemini and

Accenture

Fast facts• Programme: MSc Econometrics and Operations

Research• Language: English• Duration: 1 year full-time• Start date(s): in September• Study load per week: 8 hrs classes; 32 hours of

individual study and group work. Total 40 hours• Learning method: problem-based learning; guest

lectures; presentations; assignments; papers• Assessment method: written and oral exams, group

participation


47


Specialisation

Actuarial SciencesYour passport to accreditation as aqualified actuary

Do you look at finance from both a liability and anasset perspective? Do you have what it takes tomanage investment proactively while mitigatingrisks?

Actuarial Sciences is one of only three suchspecialisations in the Netherlands. It incorporatesthe changing role of actuaries: while traditionalactuaries focused on mitigating risks, modernactuaries look at market demand and decide howto optimise return on investment. This requires abalanced view of the interaction between assetsand liabilities.

Completion of this specialisation reduces therequirements of a follow-up programme offeredby the Dutch Actuarial Institute, which gives theformal title of Actuary. This includes taking twocourses from the bachelor’s programme (optionalfor those that do not want to pursue thispossibility). With an official Actuary qualification,you will be in extremely high demand the worldover. The programme is also recognized by theGerman Actuarial Society.


• to break financial problems down into smallercomponents in order to solve them

• to use a two-sided approach to look at problemsfrom an asset and liability point of view

• to demonstrate financial expertise in thepension and insurance sectors

Actuarial Sciences applicants should:

• enjoy solving economic problems• have a mathematical background, especially in

statistics• be analytical thinkers

A bachelor’s degree in econometrics or economicswith a mathematical or statistical focus ispreferable but not required.

This specialisation is also suitable forpeople:

• working for an insurance company or pensionfund who want further qualifications

• already doing actuarial work who require anofficial actuarial qualification

• coming from a non-actuarial field but wantingto specialise in actuarial studies

Career prospects

Most graduates of this specialisation do go on tobecome qualified actuaries. Given the currentshortage of actuaries, there is huge demand – somuch so that the ABP and AZL pension fundsapproached Maastricht University with a requestto create this specialisation. With thisqualification, however, it is also possible toperform any role investigating large sets of data,often in the banking or insurance sectors.


• insurance companies• pension funds• consultancy firms

Specialisation

EconometricsFast and accurate responses to economicand financial developments

Are you fascinated by macroeconomicdevelopments? Does asset liability managementinterest you? Do you want to learn how to predictfuture financial and economic developmentsbased on your analysis of past patterns? Apply fora specialisation in Econometrics to find out how.

The demand for econometricians in today’scomplex economic climate is enormous. Largeorganisations need people who are able tomanage resources and react quickly andeffectively to changes in the market. Industries,banks, insurers, governmental and commercialorganisations all need to adapt to market events,manage risks and predict the implications of theirdecisions quickly.

The specialisation focuses on statistical analysisof economic data, finance – including financialtheory – and asset liability management.


• to analyse data using statistical andeconometric tools

• to model future developments based on pastdata

Econometrics applicants should:

• have an interest in economic problem solving• enjoy a theoretical approach• have a background in maths or statistics

A bachelor’s degree in econometrics or economics,or a bachelor’s degree from a technical faculty,such as electrical engineering or maths, isrequired.

Career prospects

This specialisation is great training to become atop analyst. The skills that you will acquirethrough this specialisation are particularly usefulin pension and investment funds where data isused to model how a given portfolio will developover time.


• governmental institutions• banking• large corporations• research institutes, including PhD positions• analytical firms

49

“Problem-Based Learning provides excellent experience with team situations, which are anessential part of my daily work.”

Bram Smeets, McKinsey & Company


Specialisation

Mathematical EconomicsUnderstanding the ‘why’ behindeconomic problems

Ever wondered why economic developments playout the way they do? Do you enjoy creatingmodels and theories in order to solve problems?Are you the kind of person who wants tounderstand the ‘why’ behind the issue? Then whynot consider the Mathematical Economicsspecialisation?

Managers must make decisions about theinternal and external organisation of thecompany and its finances. Mathematicaleconomics can help you do this strategically byusing mathematical methods to weigh youroptions. The Mathematical Economicsspecialisation uses theory to model abstract ideasand solve real-world problems. The specialisationfocuses on Game Theory and Equilibrium Theory,including industrial organisation.


• to apply theoretical models to solve businessproblems

• to make informed decisions on resources,finances and organisational structure

Mathematical Economics applicantsshould:

• have an interest in mathematical analysis• have a theoretical mind

A bachelor’s degree in a related discipline such aseconomics, econometrics, operations research ormaths is required.

Career prospects

A qualification in Mathematical Economics givesyou the potential to be a top economic analyst.The skills you learn will be invaluable in anyindustry. The ability to analyse problems quicklyand accurately is one shared by the best mana-gers, meaning you also have the potential to berecruited to top management positions in thefuture.


• analyst firms• technical roles• senior management in any industry• doing a PhD, either to obtain a further qualifi-

cation or to embark on an academic career

Specialisation

Operations ResearchUsing technology to find solutions

Do you have an affinity for informationtechnology that you want to apply in a businessenvironment? Do you get a kick out of problemsolving in fields as diverse as logistics, planning,information management and telecoms? TheOperations Research specialisation will help youdo just that.

Operations Research uses optimisationtechniques to solve business and economicproblems. You will use computer technologies andprogramming to reach solutions via such tools assimulations and regression analysis. These toolscan be used for a variety of purposes, fromorganising the logistics of public transporttimetables to optimising distribution channels fortelecoms providers to maximising efficiency andminimising costs for container companies. Thespecialisation includes the opportunity tocombine an eight-week internship with yourmaster’s thesis – a unique blend of theoreticalresearch and practical experience.


• to use and develop software to find optimalsolutions for logistical scheduling problems

• to give sound advice and finding technicalsolutions to business and economic problems

Operations Research applicants should:

• have an interest in IT and technology – pleasenote that although this is not a programmingspecialisation, you can choose to take aprogramming course

• enjoy problem solving

A bachelor’s degree in a related discipline, such aseconomics, econometrics, operations research orIT, is required.

Career prospects

As a graduate in Operations Research, you willtypically start in a technical role, providingsupport to management in making decisions,growing later into a management role yourself.The internship is a great opportunity to learnon-the-job skills and get a foot in the door of anindustry that interests you.


• logistics• telecoms• distribution industries

51

“My time at SBE helped me build a toolkit of analytical methods that has proven extremely usefulin tackling complex problems.”

Nathaniel Bastian, Health Logistics Professionals


Innovative entrepreneurship in theworldwide supply chain

Are you interested in supply chain managementprocesses and how they can be improved? Are youa creative thinker who can innovate to achieve acompetitive edge? Do you aspire to set up yourown business, or make a real difference to acompany that wants to compete in a dynamic,international marketplace?

The Global Supply Chain Management andChange programme meets the growing demandfor supply chain management experts. Acombination of supply chain management,innovation and entrepreneurship, you will learn tomanage strategic change projects in the supplychains of global organisations.

The programme is taught in Venlo, anentrepreneurial city about 75km from Maastricht.You benefit from Maastricht University’soutstanding academic resources while applyingyour knowledge in the region’s industrial centre.Links to companies in the area mean you willanalyse real business cases and gain practicalexperience.


• to maintain an overview of every link in thesupply chain

• to carry out effective supply chain planning• to deal effectively with suppliers, buyers and

customers• to understand global business issues• to identify areas of improvement and driving

change processes• to work in and managing international teams

Global Supply Chain Management andChange applicants should:

• be internationally minded and open to newideas

• see the opportunities of change rather than thethreats

• be analytical thinkers with a desire to see theoryin practice

A background in supply chain management,logistics or business is an advantage but notrequired.

MSc Global Supply Chain Management and Change (VENLO CAMPUS)

NB. The details of this programme could change; before applying, please check our website for the latest information.

Course outline

Global Supply Chain Management and ChangeTerm 1 1 Supply Chain Operations Methods and Methodology

2 Supply Chain Relationships Entrepreneurship and Innovation

3 Skills Training: Project and Change Management

Term 2 4 ICT Systems and Services Business and Supply Chain Strategy

5 Skills Training: Writing a Business Plan Writing the Master’s Thesis


Career prospects

Graduates of this programme have manyopportunities. Your business and managerial skillswill put you on the fast track to a senior positionin a range of organisations, including the projector staff departments of global retail and logisticscompanies. The programme also stressesentrepreneurship, invaluable if you decide to startyour own company.


• supply chain managers• purchasing analysts• logistics managers• consultants

…at…

• large multinationals like Shell and Philips• start-ups• logistics companies, such as DHL and TNT• consultancy firms, such as Capgemini and

Accenture

Fast facts• Programme: MSc Global Supply Chain Management

and Change (based in Venlo)• Language: English• Duration: 1 year full-time• Start date(s): in September• Study load per week: 8 hrs classes; 12 hrs group work;


lectures; presentations; assignments• Assessment method: written exams; final papers;

group participation

More information:www.maastrichtuniversity.nl/campusvenlo

53


Business processes meetacademic research skills

Do you want to pursue an academic career, or tospecialise in research within business? Do youhave a strong academic record, and want tochallenge yourself even further?

Applying for the two-year master’s programme inBusiness Research will give you the edge.

Business Research trains you in themethodological framework needed to performexcellent research. You also gain the practicalskills required to publish and review youracademic work.

MSc Business Research

NB. Please note that the course outline above is an example. NB. The details of this programme could change; before applying, please check our website for the latest information.

Course outline

Within this programme, you can choose from three specialisations and one special track:- Specialisation: Information Management and Accounting- Specialisation: Marketing- Specialisation: Organisation and Strategy- Special track: Operations Research

Business Research

Year 1

Term 1 1 Business Research Design IB Elective

Skills Training:World of Research

2 Applied Quantitative Analysis IB Elective

3 Skills Training: Data Analysis Skills

Term 2 4 Advanced Quantitative Research Methods in Business 1

IB Elective

5 Advanced Quantitative Research Methods in Business 2

IB Elective

6

Business ResearchYear 2Term 1 1 Specialisation course Free/methodology elective

2 Specialisation course Free/methodology elective

3 Skills Training: Presentation SkillsTerm 2 4 Writing the Master’s Thesis

5


The programme is tailor-made to allow you tofocus on your interest areas. Courses draw on thework of our best researchers, offering first classteaching at the forefront of academic research.Our cooperation with top universities worldwidewill allow you to dive into different specialisationsand follow guest lectures given by internationalexperts. Grants and scholarships are available.


• to carry out academic research in businessaccording to the highest standards

• comprehensive knowledge of the recentliterature in your field of interest

• how to increase the impact of your research

Business Research applicants should:

• be research-driven• be ambitious to have a career as a business

researcher or to do a PhD• be self-motivated and hard-working

A bachelor’s degree in business or operations is aplus, although other disciplines are possible.

Please note that if you already have a master’sdegree, you may be exempt from re-taking certaincontent.

Career prospects

A Research MSc in Business Research offers youtwo distinct future paths:

• further study in the form of a PhD and anacademic or research career

• a business career in organisations needingstrong researchers

Fast facts• Programme: MSc Business Research• Language: English• Duration: 2 years full-time• Start date(s): in September• Study load per week: 8 hrs classes; 32 hrs individual

study. Total: 40 hours• Learning method: problem-based learning; guest


papers, group participation


55

“Just as regular master’s students have hands-on experience in companies, we work incollaboration with researchers in the various departments.”

Hannes Datta, PhD student


Research your ambitions

Want to pursue a challenging internationalacademic career in economic and financialresearch? Apply for the two-year researchmaster’s programme in Economic and FinancialResearch and start your research career here.

The programme prepares you to contribute toresearch in economics or finance. You will improveyour academic writing and learn the stages of thepublishing and reviewing process through theacademic skills courses.

MSc Economic and Financial Research

NB. Please note that the course outline above is an example. NB. The details of this programme could change; before applying, please check our website for the latest information.

Course outline

Within this programme, you can choose from four specialisations and one special track:- Specialisation: Economic Theory Behaviour and Computing- Specialisation: Econometrics, Finance and Monetary Economics- Specialisation: Technology, Innovation and Industrial Dynamics- Specialisation: Development and Utilisation of Human Resources- Special track: Econometrics

Economic and Financial Research

Year 1

Term 1 1 Empirical Econometrics 1 Mathematical Research Tools

World of Research

2 Microeconomics 1 Macroeconomics

3 Skills Training: Topics in Computational Econometrics

Term 2 4 Microeconomics 2 Financial Markets

5 Empirical Econometrics 2 Research Strategy

6 Skills Training: Experimental Economic Methods

Economic and Financial ResearchYear 2Term 1 1 Specialisation course Specialisation course

2 Specialisation course Specialisation course

3 Skills Training: Presentation SkillsTerm 2 4 Writing the Master’s Thesis

5


In the first year you will attend high-level coursesin economics set to the American standard incontent and scope, allowing you to enrol in aresearch programme in the United States, orpursue an American PhD offered elsewhere, orwork internationally.

The second year offers a wider choice oftailor-made courses related to the work of thedepartment’s best researchers. You will beimmersed in a state-of-the-art academicenvironment closely linked to top universitiesworldwide. Grants and scholarships are available.


• to carry out academic research according to thehighest standards

• a comprehensive knowledge of the recentliterature in your field

• how to get your research published

Economic and Financial Researchapplicants should:

• be research-driven• be ambitious to do a PhD• be self-motivated and hard-working

A bachelor’s degree in economics, finance oreconometrics is preferable, although otherdisciplines are possible.

Please note that if you already have a master’sdegree, you may be exempt from re-taking certaincontent.

Career prospects

A Research MSc in Economic and FinancialResearch offers you two distinct future paths:

• further study in the form of a PhD and anacademic or research career

• a business career in organisations needingstrong researchers

Fast facts• Programme: MSc Economic and Financial Research• Language: English• Duration: 2 years full-time• Start date(s): in September• Study load per week: 8 hrs classes; 32 hrs individual

study. Total: 40 hours• Learning method: problem-based learning; guest




57

“It is great to be able to put together a tailored programme based on the particular technicalskills that you need….”

Olga Skriabikova, The Research Centre for Education and the Labour Market (ROA)

Arts & Culture*• Master in Arts & Culture, with the following

programmes:- Arts and Heritage: Policy, Management and

Education/Kunst, cultuur en erfgoed (MA)3

- Art, Literature and Society/Kunst, literatuur ensamenleving (MA)3

- Politics and Society/Politiek en samenleving (MA)3

• Master in Arts & Culture (research), with thefollowing programme:- Research Master in Cultures of Arts, Science

and Technology (MSc)1

• Master in European Studies, with the followingprogramme:- European Studies on Society, Science and

Technology (MA)1

• Master in Media Studies, with the followingprogramme:- Media Culture (MA)1

Behavioural & Political Sciences• European Public Affairs (MA)1

• European Studies, 3 specialisations (MA)1

• Globalisation and Development Studies (MA)1

• Psychology, 6 specialisations (MSc)1

• Public Policy and Human Development, 4specialisations in Behavioural & PoliticalSciences (MSc)1**

• Research Master in European Studies (MSc)1

• Sustainability Science and Policy (MSc)1

Business & Economics• Advanced Master in Intellectual Property Law

and Knowledge Management (LLM, MSc)1

• Econometrics and Operations Research, 4specialisations (MSc)1

• Financial Economics, 3 specialisations (MSc)1

• Fiscale Economie/Fiscal Economics (MSc)2

• Global Supply Chain Management and Change (MSc)1

• Human Decision Science (MSc)1

• Information and Network Economics (MSc)1

• International Business, 10 full-time and 7 part-time specialisations (one of which is in Dutch) (MSc)1

• Economic Studies, 6 specialisations (MSc)1

• Management of Learning (MSc)1

• Public Policy and Human Development, 3 specialisations in Business & Economics(MSc)1**

• Research Master in Business Research, 4 specialisations (MSc)1

• Research Master in Economic and FinancialResearch, 5 specialisations (MSc)1

Graduate programmes for professionals• Euro-MBA1

• Executive Master of Finance and Control(EMFC/MSc/RC)4

• International Executive Master of Finance andControl (part-time EMFC/MSc/RC)1

• MBA (Executive Modular)3

Education• Master of Evidence Based Innovation in

Teaching (MSc)4

Health & Life Sciences• Arts-Klinisch Onderzoeker/Physician-

Clinical Investigator (MSc, MD)4

• Biology of Human Performance and Health (MSc)1

• Epidemiology (MSc)1

• European Public Health (MSc)1

• Forensic Psychology (MSc)1

• Geneeskunde/Medicine (MSc, MD)4

• Global Health (MSc)1

• Healthcare Policy, Innovation and Management (MSc)1

• Health Education and Promotion (MSc)1

• Health Food Innovation Management (MSc)1

• Mental Health (MSc)2

• Biomedical Sciences, 4 specialisations (MSc)1

(within transnational University Limburg, tUL)• Psychology, 6 specialisations (MSc)1

Master’s programmes overview 2013/14

• Research Master in Cognitive and ClinicalNeuroscience, 5 specialisations (MSc)1

• Research Master in Health Sciences, 4 specialisations (MSc)1

• Sports and Physical Activity Interventions (MSc)1

• Work, Health and Career (MSc)1

Graduate programmes for professionals• Affective Neuroscience (MSc)1

• Health Professions Education (MSc)1

Law• Advanced Master in Intellectual Property Law

and Knowledge Management (LLM, MSc)1

• European Law School, 2 specialisations (LLM)1

• Fiscaal Recht/Tax Law, 2 specialisations (LLM)3

• Forensica, Criminologie en Rechtspleging /Forensics, Criminology and Law (LLM)3

• Globalisation and Law, 3 specialisations (LLM)1

• International and European Tax Law (LLM)1

• International Laws (LLM)1

• Nederlands Recht/Dutch Law,various specialisations (LLM)4

• Recht en Arbeid/Law and Labour, 2 specialisations (LLM)4

Sciences(within transnational University Limburg, tUL)• Artificial Intelligence (MSc)1

• Operations Research (MSc)1

New initiatives at UM• Executive Master in MRI (MSc)1

The programmes under ‘New initiatives at UM’ arecurrently in the process of NVAO accreditation. Formore information about these programmes andtheir expected starting dates, please consultwww.maastrichtuniversity.nl/newinitiatives

* Due to a national restructuring operation in theHumanities field, some changes have occurred in ourArts & Culture sector. If you wish to apply for one of theabove master’s programmes, you will have to select itsoverarching master’s title in Studielink. For moreinformation, please visitwww.maastrichtuniversity.nl/fasos.

** This programme is offered as a double degree incollaboration with United Nations University.

Language of instruction:1 Only in English2 Part Dutch, part English3 Available in both English and Dutch4 Only in Dutch

UM

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