Pre-master Economics and Business

The pre-master Economics and Business prepares you for the specialisations within our MSc in Economics and Business.

This pre-master is designed for students with a background in economics, business economics or business administration that do not qualify for direct admission to any of the specialisations within the MSc in Economics and Business.

  • The Take-Off is the introduction programme for all new students at Erasmus School of Economics. The Take-Off will take place on Monday, 31 August 2020. During the Take-Off you will meet your fellow students, get acquainted with our study associations and learn all the ins and outs of your new study programme, supporting information systems and life on campus and in the city.

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    • Properties of functions
    • Differentiation
    • Single variable optimization
    • Functions of many variables
    • Tools for comparative statics
    • Multivariable optimization
    • Constrained optimization

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    This course follows on the course on descriptive statistics in Applied Statistics 1 (FEB11005) and prepares the ground for active scientific research in later courses (Methods and Techniques FEB12012, Research Project FEB12013, in seminar and thesis projects, and later in jobs requiring skills in doing and interpreting applied research).

    The course treats statistical models and methods that are often applied in economics. The right method depends on the research question of interest and on the nature of the available data. The main topics are the following: testing, contingency tables, ANOVA, non-parametric tests, regression (simple and multiple, time series).

    During the tutorials, exercises are solved and discussed, and tutorial points can be earned. In addition, students gain experience in applying statistics by means of software.

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    • The first part of the course deals with the theory of the consumer. Topics covered include consumer choice under certainty and uncertainty, and individual and market demand;
    • The second part focuses on the theory of the firm, and includes the topics of firm production and firm cost;
    • The last part of the course turns to market structures (monopoly, imperfect competition and perfect competition), to the joint analysis of firm and consumer behavior within a market (general equilibrium theory) and to factor markets (especially labor).

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    The course international economics focuses primarily on the world economy as such and the relationships between countries and trading blocks regarding international trade, capital flows, economic growth, exchange rates and financial crises. Although macroeconomic quantities are at the core of the analysis, these will usually be built up from a microeconomics perspective. The nature of the analysis implies that international economists frequently find inspiration elsewhere for their applications, for example from economic geography, monetary economics, econometrics, development economics or industrial organization. This approach results in a rich diversity of insights, nonetheless characterized by a remarkable coherence.

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    Finance 1: valuation
    During this course we'll study the knowledge necessary to value a firm. The value of the firm influences the prices of its shares en determines the price paid for shares in case of mergers and acquisitions. From the perspective of the financial manager and the financers of the firm Finance 1: valuation will show how investment and financing decisions influence the value of the firm. Besides thinking in terms of classical rational profit maximization thinking, we'll address important developments in behavioural finance and sustainability as well.

    Finance 1: valuation encompasses classes, tutorial sessions, webcasts and on-line exercises. During the weekly classes, teacher present knowledge. The tutorial sessions will be focused around real-life case studies, such that students understand how the knowledge is applied for real investment decisions, IPO's and take overs. The webcasts are short films wherein exercises will be discuss and teacher give additional information.

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    In methods and techniques students will get acquainted with the toolbox for scientific economic research. The focus is on acquiring knowledge and skills useful for fundamental and applied research in both the public and the private sector. The complete cycle of scientific research will be discussed. Research design, conceptual thinking and cross-sectional and time series techniques will be discussed.

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    Issues in the methodology of economics, such as how unrealistic models can (and should) be and how we can appraise their explanatory power, and issues in ethics of economics, such as the goal of economic policy, but also inequality, distributive justice and the moral limits of markets, are discussed in the lectures. In five tutorials, ethical issues in business and in the market are discussed and analyzed. By active engagement with these topics, students develop a stronger moral sense and they familiarize themselves with theoretical frameworks that enable them to form their own considerate opinion.

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    Financial accounting topics:

    • Accrual accounting
    • Inventory accounting
    • Tangible and intangible fixed assets
    • Current assets and liabilities
    • Revenue recognition
    • Shareholders' equity
    • Dilutive securities & EPS
    • Accounting for income taxes
    • Cash flow statements

    Management accounting topics:

    • Management Accounting and Control Systems
    • Planning and decision making (e.g. budgeting)
    • Evaluating and Managing performance (e.g. variance analysis, responsibility accounting, transfer pricing)
    • Recent developments Management Accounting

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    • Introduction derivatives markets
    • Introduction futures, forwards, and options
    • Interest rates
    • Financial forwards and futures
    • Commodity and interest rate futures
    • Swaps
    • Option types and payoffs
    • Put-call parity
    • Binomial option pricing
    • The Black-Scholes formula
    • Greeks
    • Real options

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    The objective of this course is to develop students’ knowledge and understanding of important financial accounting topics, including goodwill, investment, current and non-current liability, pensions, and leases. This course continues where the Bachelor-2 course (Intermediate Accounting, FEB12007/FEB12007X) left off.

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    With respect to your previous classes in management accounting, this course offers a closer look into management accounting and control topics.
    The Institute of Management Accountants (an U.S.-based institution) defines management accounting as "a value-adding continuous improvement process of planning, designing, measuring and operating nonfinancial and financial information systems that guides management action, motivates behavior, and supports and creates the cultural values necessary to achieve an organization's strategic, tactical and operating objectives." In accordance with the definition, we will examine various topics concerning management accounting and control discussed in literature and used by managers for decision management and decision control.

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    Marketing research is an essential component in present-day marketing and management. The cycle of research starts with formulating precise research questions, which can be translated into actual survey questions or data measurement. Issues that are addressed are:
    - Design of surveys
    - Sampling
    - Conjoint Analysis
    - Segmentation using Cluster Analysis
    - Pricing and promotions
    - Relating quantitative results to the initial research questions

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    The course “Introduction to Strategy Economics” focuses on strategic behavior of different types of firms including start-ups, small businesses and large firms. Attention is paid to how internal and external forces (such as competition) shape strategic firm behavior. The course introduces students to a selection of topics covered in the Master's specialisation of Strategy Economics at Erasmus School of Economics of Erasmus University Rotterdam.
    Topics include:

    • Firm entry
    • Firm exit
    • Firm growth
    • Innovation
    • Export and Foreign Direct Investments
    • Public policy for entrepreneurs and business (macro and micro policy)

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    This course analyzes markets and organizations by studying seminal and contemporary papers in theory and empirics in this field. The course analyzes papers on the following topics in detail:

    1. Markets of Goods and Services 2. Labor Markets
    3. Financial Markets
    4. Incentives in Organizations
    5. Decision Making in Organizations
    6. Leadership in Organisations

    Imperfect markets and asymmetric information play a key role in the research field of markets and organizations. During this course we analyze and discuss why firms set different prices for the same goods during sales. Who monitors a CEO and does it have any effect? Why are some decisions in firms delegated and others not? How do organizations incentivize employees when effort is unobservable? How do banks ensure loans are paid back by organizations? How do consumers choose between different products?

    This course deepens some of the topics from previous micro economics and organizational courses from the Bachelor and gives a preview of the topics discussed in the Economics of Markets and Organizations Master.

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    This course focuses on the economic dimension of regions and urban areas, and how transport is organised to make amenities, living and working places optimally accessible. The course addresses important societal issues: why do people and firms increasingly want to cluster in urban space? Why do some cities thrive, while others struggle? How is accessibility and transport connected to cities, in regions and in globalised markets? What does economic theory teach us about policy and planning challenges that metropolitan areas face, such as crime, segregation, traffic congestion and environmental externalities? Which innovative spatial-economic and transport dynamics occur in cities, and how do they diffuse over time and space? What economic policies are important for cities and regions, related to urban structure and transport? How are cities and regions integrated in local and (inter)national infrastructure? How do regions and cities deal with economic shocks, like recently Brexit and Corona, and what determines their competitiveness and resilience?

    Fuelled by social and economic networks, cities are becoming ever more central in modern society, despite the emergence of transport-diminishing technologies like ICT. Urban and regional economics has a long tradition as a discipline. All economic phenomena take place within geographical space. Economic issues invariably involve either questions concerning the place specificity of particular activities, or alternatively, questions relating to the overcoming of space and geographical distance. The costs incurred in spatial transactions will partly determine the price and cost conditions at market locations. The role of geography in the economy and the importance of spatially and transport determined economic behaviour, provide the motivation and justification for studying urban and transport economics. Transport economics is a complementary well-developed discipline with branches in many areas of economic science. The transport sector can be divided into two large sub sectors: transportation of goods and passenger transport. Both sectors have witnessed dramatic changes in the last decades, especially in urban regions. On the one hand the increasing transport flows of goods around the world are the results of changing trade patterns and production systems and, on the other hand, the increasing predominance of private motor vehicle use in passenger transport is the results of welfare growth and changes in travel behaviour. Changing travel behaviour and changing appreciation of urban working and living areas together shape regional economic development potentials. This course focuses on the central question: how do we explain the interrelated development of urban and transport economic dynamics, and how do we satisfy the changing mobility and location needs of an increasing population in an equal, efficient and sustainable way?

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