Master of Science in Business Economics Master of Science in Advanced Business Studies PhD programme in Business Economics Faculty of Economics and Business Discover KU Leuven Situated in the heart of Western Europe, KU Leuven has been a centre of learning for nearly six centuries Today, it is Belgium’s largest university Founded in 1425, it is one of the oldest and most renowned universities in Europe As a leading European research university and co-founder of the League of European Research Universities (LERU), KU Leuven offers a wide variety of programmes in English, all supported by high-quality, innovative, interdisciplinary research The university welcomes more than 40,000 students, of which 16% are international students from more than 140 countries KU Leuven’s doctoral schools organise internationally oriented PhD programmes for over 4,000 doctoral students The university is located in Flanders, the Dutch-speaking part of Belgium Leuven is a modern, bustling and safe student city with a long and rich history Cultural and recreational opportunities abound KU Leuven’s central location offers a truly international experience Major European capitals such as Brussels, Paris, London and Amsterdam are only a (very) short train journey away Faculty of Economics and Business As one of KU Leuven’s 15 faculties, the Faculty of Economics and Business carries out education and research in five departments: • • • • • Economics Marketing and Organisation Studies Accountancy, Finance and Insurance Managerial Economics, Strategy and Innovation Decision Sciences and Information Management One of the Faculty’s most important assets is its vast national and international network It maintains strong links with the business and financial community by organising regular workshops with industry leaders and the European Commission, situated only 30 minutes from the campus Many of the alumni work at European institutions, and many staff members act as advisers to various European bodies and international companies The Faculty's alumni network offers excellent communication channels and networking opportunities with leading figures in industry and politics External quality assessments prove that the Faculty of Economics and Business' teaching is internationally respected and renowned This academic reputation attracts students and scholars from across the globe, creating a vibrant, multicultural atmosphere The Faculty has a truly international outlook, and its alumni can be found all over the world This international focus is also clear in its wide international student exchange network The Faculty of Economics and Business participates extensively in the (intra-EU) Erasmus programme (with 65 partners) and has numerous agreements with leading universities outside the EU, including: the Wharton School of Business (University of Pennsylvania), the University of Illinois and Rochester University in the United States, the University of British Columbia and Queen’s University in Canada, the Indian Institutes of Management Calcutta and Bangalore in India, the Chinese University and the City University of Hong Kong, Tsinghua University and Fudan University in China, the University of Sydney and the University of Adelaide in Australia, Stellenbosch University in South Africa, Insper in Brazil, and the Singapore Management University Why KU Leuven? The Faculty’s graduate-level and doctoral programmes aim to develop participants’ critical, conceptual, problem-solving and decision-making skills A graduate degree from KU Leuven’s Faculty of Economics and Business equips students with fundamental and conceptual knowledge and analytical tools to cope effectively with the problems of the current and constantly-changing business and economic environment Adopting a research based approach, focus is placed on the disciplines underlying business operations and economic decisions This enables graduates to acquire the necessary skills and tools for coping with current and future challenges A variety of teaching methods (lectures, case discussions, exercises, computer-assisted problem-solving and individual research) is used to enhance students’ educational experience Students are expected to participate actively The Faculty evaluates classroom work, written assignments and examinations on a regular basis The workload is demanding, as to be expected from a high-quality graduate school The Faculty’s international credentials and academic reputation guarantee the quality of the programme Master of Science in Business Economics The Master of Science in Business Economics programme emphasises the acquisition of fundamental knowledge and skills in an area of specialisation related to the corporate world By combining this programme with initial specialisations from the Bachelor’s programme, you will develop deeper insight into a broad range of fields and fine-tune your personal graduation profile On completing this programme, you will be able to apply scientific frameworks independently and critically, allowing you to evolve continuously in a dynamic society and workplace Why KU Leuven KU Leuven occupies a leading position in management and economic research and is highly ranked by the European Economic Association Top-level research and education complement and strengthen each other The Faculty of Economics and Business' Alumni Association includes many leaders of industry, ensuring excellent career opportunities for our graduates Profile You have an entrepreneurial personality with broad socio-economic interests You are fascinated by the business world and would like to pursue a management career in entrepreneurship, innovation, marketing, strategy, international business or finance Admission requirements • • For applicants with a prior degree obtained at a Flemish education institution, see admission requirements Master (of Science) in de toegepaste economische wetenschappen (www.kuleuven.be/ma/mtew) For all other applicants, the following requirements apply: Degree requirements • Applicants should hold a university Bachelor's degree in Economics or Business Economics comparable to a Bachelor's degree in Economics, Business Economics or Business Engineering from the Faculty of Economics and Business at KU Leuven By a degree in Business or Economics we mean a broad-based academic education (with sufficient ECTS in macroeconomics, microeconomics, management, statistics, mathematics …), not a technical training programme (e.g marketing or hotel management) Please note that our faculty has a strong analytical/mathematical approach In order to verify whether you have sufficient background knowledge in this respect, see www.econ.kuleuven.be/eng/edu/docs/mbe-prerequisites.pdf Comparability is evaluated by the Admissions Board on the basis of information provided by the applicant (see required documents) Language requirements Proof of proficiency in English • All applicants must submit a satisfactory score on one of the following internationally recognised tests of English language proficiency: - TOEFL (minimum score 575 paper-based, 233 computer-based, 90 internet-based) - IELTS (minimum score 7) No other proficiency tests will be accepted • An exemption from the TOEFL or IELTS is only possible for applicants with a university degree or high school degree earned in Australia, Canada, Ireland, New Zealand, United Kingdom or the United States The certified diploma and transcripts suffice, provided they confirm that the entire study was completed in English Required documents All applicants must provide the following documents: • certified copies of degrees, transcripts and, if available, a ranking indication; • the comparability form with a course description of all relevant courses (see www.econ.kuleuven.be/eng/edu/admissionrequirements); • two recommendation forms (see www.econ.kuleuven.be/eng/edu/ admissionrequirements) completed, signed and posted in a sealed envelope signed over the lid by the referee to the Faculty of Economics and Business Forms not provided in a sealed envelope signed across the lid by the referee will be regarded as void The recommendation forms can also be mailed directly by the referee to fbe@econ.kuleuven.be These documents suffice for applicants with a non-Belgian degree from: • universities which have an exchange agreement with the Faculty of Economics and Business of KU Leuven • universities which are in the global top 200 in the most recent Times Higher Education or QS rankings Additional information is required for applicants from other universities as it is impossible for us to reliably assess degree comparability In those cases a GMAT or GRE result above the 75th percentile on the quantitative part is required The Admissions Board evaluates all applications and has the final say on the admissibility of the student Incomplete application files will not be evaluated Application procedure • Non-EEA citizens must submit a complete application file by March EEA citizens (or non-EEA citizens with a residence permit for Belgium) are strongly advised to submit their application file before June but can apply until the end of August • Tuition fee: ±600 EUR For more information on how to apply, please visit www.econ.kuleuven.be/eng/edu/prospectivestudent Programme The programme starts at the end of September The academic year is divided into two semesters, each consisting of 13 teaching weeks, followed by exam revision and exams The programme consists of one core course, a major including a Master’s thesis, a minor and one elective course MASTER OF BUSINESS ECONOMICS COURSE Core Courses • Strategic Management Master's Thesis 60 ECTS ECTS 6 15 Major 24 Students choose one major and select courses for 24 credits within this major Major 1: International Business, Strategy and Innovation • International Business Strategy • International Management • Competitive Analysis and Strategy • Political Business Strategy • Economics of Global Innovation • Innovation Management and Strategy Major 2: Entrepreneurship • Entrepreneurship and New Business Development • The Foundations of Entrepreneurship • Organising for Entrepreneurship • Entrepreneurial Finance • Strategic IP Management • Intrapreneurship Major 3: Financial Economics • Core Courses - Macro Finance - Econometric Methods & Models - Security Pricing and Portfolio Selection • Electives: students select of both electives: - The Economics of Financial Intermediation - International Business Finance: Forex Markets 6 Major 4: Marketing • International Marketing • Brand Management • Marketing Strategy Modelling • Consumer Behaviour 6 6 Minor 12 Students choose one minor and select courses within this minor for 12 ECTS: • Strategy and Innovation, International Business, Entrepreneurship, Financial Economics, Marketing, Accounting and Auditing, Business Research, Production and Logistics, Economics, Informatics for Business Economics Free electives: students choose one free elective course For detailed descriptions of this programme’s courses and for the course timetable, please consult www.kuleuven.be/ma/mbe Career prospects Graduates of the Master of Science in Business Economics mostly take up managerial and/or research positions in business, national and international institution and in managerial functions at universities Given the variety of skills acquired, you will be highly sought after by a wide range of companies (from small firms to multinational corporations) in a variety of positions and sectors in Belgium or abroad You can pursue a career as an auditor, entrepreneur, consultant, financial analyst, financial manager, project manager, sales manager, marketing manager or stock broker This is only a small selection of the many options available to you Master of Science in Advanced Business Studies The Master of Science in Advanced Business Studies is mainly designed to offer students with a background in business or management science an additional and advanced curriculum in business research methodology The programme allows participants to deepen their knowledge in a number of substantive areas, both conceptually and methodologically Its courses are not designed to offer a general management background, but instead to provide in-depth, specialised treatment of business research methodology The purpose of the programme is to familiarise students with current research practices in business and management studies used in leading academic institutions, international companies and institutions The programme provides excellent preparation for undertaking a PhD in Business Economics, but it is also ideal for students seeking research-oriented positions outside the university Extensive contact with students from different nationalities and cultures adds an extra dimension to the programme Admission requirements Degree requirements Applicants must hold either of the following: • a Master’s degree in business studies or applied economics • a Master’s degree in another field, provided that the basics of business have been covered and the other elements in the application file are outstanding The applicant should have a sound mathematical and statistical background Academic performance should be above average (e.g applicants should have obtained their degree with at least cum laude or with distinction) Admissibility is evaluated by the Admissions Board on the basis of information provided by the applicant including certified copies or diploma and transcript etc (see required documents) Language requirements Proof of proficiency in English • All applicants must submit a satisfactory score on one of the following internationally recognised tests of English language proficiency: - TOEFL (minimum score 575 paper-based, 233 computer-based, 90 internet-based) - IELTS (minimum score 7) No other proficiency tests will be accepted • An exemption from the TOEFL or IELTS is only possible for applicants with a university degree or high school degree earned in Australia, Canada, Ireland, New Zealand, United Kingdom or the United States The certified diploma and transcripts suffice, provided they confirm that the entire study was completed in English Required documents All applicants should provide the following documents: • certified copies of transcripts, degrees and, if available, a ranking indication • a GMAT or GRE score A GRE or a GMAT test result above the 90th percentile on the quantitative part (or on average) normally entails immediate admission, provided all other requirements are met as well, but this is not an absolute minimum • two recommendation forms (see www.econ.kuleuven.be/eng/edu/ admissionrequirements) completed, signed, and posted in a sealed envelope signed across the lid by the referee to the Faculty of Economics and Business Forms not provided in a sealed envelope signed across the lid by the referee will be regarded as void The recommendation forms can also be mailed directly by the referee to fbe@econ.kuleuven.be • a letter of motivation written and signed by the applicant detailing the choice for KU Leuven and for this particular programme The Admissions Board evaluates all applications and has the final say on the admissibility of the student Incomplete application files will not be evaluated Application procedure • • Non-EEA citizens must submit a complete application file by March EEA citizens (or non-EEA citizens with a residence permit for Belgium) are strongly advised to submit their application file before June but can apply until the end of August Tuition fee: 1,400 EUR For more information on how to apply, please visit www.econ.kuleuven.be/eng/edu/prospectivestudent Profile As the programme’s courses are at the advanced Master’s level, we stress the importance of a solid undergraduate background in business economics or management studies Students should also have a sound mathematical and statistical background Students should have a keen interest in recent analytical developments in business economics and a desire to work in research positions at universities, in business or in national and international institutions Programme The programme focuses on the use of business research methodology and stresses a combination of theory and applications drawn from real business problems in various management disciplines MASTER OF ADVANCED BUSINESS STUDIES COURSE Core Courses Students take courses from this group, for a total of 18 ECTS • Combinatorial Optimisation and Local Search Techniques • Advanced Econometrics • Multivariate Statistics • Advanced Time Series Analysis • Applied Game Theory • Economics of Information • Optimisation: Special Topics • Statistical Modelling • Statistics for Finance and Insurance • Actuarial and Financial Models 10 60 ECTS ECTS 6 6 3 6 6 COURSE ECTS Electives 18 Students take electives for a total of 24 ECTS from this group or: One or more additional core courses - One or more courses at advanced Master’s level, from other universities One or more courses at advanced Master’s level, from other programmes at KU Leuven, particularly from the Master of Science in Advanced Studies in Economics programme • Architecture and Modelling of Management Information Systems • Asset Prices: Basic Models and Tests • Simulation Theory and Applications • Knowledge Management and Business Intelligence • The Empirics of Financial Markets • Advanced Industrial Economics • Bibliometrics as a Research Field • Economics and Strategy of Innovation • Advanced Applied Econometrics • Survey Methodology • Experimental Design • Multi-agent Systems • Advanced Non-life Insurance Mathematics • Advanced Life Insurance Mathematics • Selected Research Topics • Consumer Behaviour Research • Structural Equations 6 6 6 6 4 6 6 Research Component 24 18 • Master’s Thesis The Master’s thesis consists of a research paper in the student’s field of interest using advanced research methodologies under the guidance of a supervisor The thesis should reflect that the student has mastered contemporary methodological tools used in business economics and is able to apply them independently The topic of the Master’s thesis is drawn from one of the following fields: marketing, organisation studies, operations management, operations research and business statistics, management informatics, finance, accountancy, actuarial science or managerial economics, and strategy and innovation For detailed descriptions of this programme’s courses and for the course timetable, please consult www.kuleuven.be/ma/mabs 11 Career prospects A large majority of the graduates of the Master of Science in Advanced Business Studies programme begin careers in managerial and/or research positions in business, national and international institutions and universities Graduates can also obtain exemptions from coursework in the PhD programme in Business Economics at KU Leuven Before joining KU Leuven, I graduated in management at Bocconi University, Italy I had already realised that research was my passion during my studies thanks to two internship experiences at the United Nations and at the European Parliament After graduating, I worked as a researcher at Fondazione Eni Enrico Mattei, a leading Italian research centre for two years My main research interests are regulation, privatisation and corporate governance Given my previous studies in management, I felt that I needed more specific training in quantitative methods, and after very careful consideration, I decided to come to KU Leuven In fact, I found this Master’s programme to be a truly unique combination of quantitative methods, applied economics and business research Moreover, you have a wonderful environment for learning, PhD level classes and a very stimulating teaching method, with many applications not only for research, but also for high-level professions in banking or consulting I was also positively surprised by the city of Leuven, which is very beautiful and offers a very nice and lively environment for students In Leuven and at KU Leuven you always feel welcome and you can enjoy a lot of different activities besides studying (Silvia Vitiello, graduate) 12 PhD in Business Economics The doctoral programme in Business Economics is an advanced, four-year programme designed to train future researchers in one of the key fields of management: marketing, organisation studies, operations management, operations research and business statistics, management informatics, finance, accountancy, actuarial science or managerial economics and strategy and innovation The programme is designed to develop and nurture young talent and prepare PhD graduates for careers in both academia and international business Currently about 150 students with diverse backgrounds and nationalities are enrolled in the doctoral programme, creating an energetic and stimulating work environment The purpose of the programme is to familiarise students with current research practices in business and management studies used in leading academic institutions, international business companies and institutions The programme is designed to prepare PhD graduates for careers in both academia and international business PhD students obtain the degree of Doctor in Business Economics after successfully defending a doctoral dissertation Admission requirements The admission requirements for the doctoral programme depend on the applicant’s previous studies The admission to the doctoral programme is granted by the Faculty Board based on the individual file of the applicant and after consulting with professors of the department in question The minimum admission requirements are: • • • a Master’s degree (with honours, academic) in Applied Economics, Commercial Engineering or Commercial Engineering in Information Sciences; a Master’s degree (with honours) in Commercial Sciences or Commercial Engineering obtained at a European institution of higher education with two cycles; an equivalent or other academic degree, with honours “Honours” refers to the fact that the candidate obtained the level honours at least twice for the university diplomas mentioned Depending on the application, letters of recommendation and a GMAT score of at least 600 may be required The GMAT score is required for all applicants outside the EU 13 The students select their field of research from the following list: • • • • • • • • • • accountancy actuarial sciences managerial economics, strategy and innovation econometrics and statistics finance informatics marketing operations research operations management human resources management Profile Students should have a keen interest in recent analytical developments in business economics and a desire to work in research positions at universities, in business or in national and international institutions Application procedure For information on how to apply, please visit www.econ.kuleuven.be/eng/edu/prospectivestudent 14 Soon I’ll be halfway through the doctoral programme at the Faculty of Business and Economics at KU Leuven When I look back at what I’ve experienced and learned over the past two years, I can only hope that the coming years will be just as fascinating and captivating The doctoral programme provides me with the opportunity to contribute to the research community, and the stimulating environment in which I am being trained as a researcher helps me achieve my ambitions and objectives The combination of the intellectual freedom that I am granted as a doctoral student and the support offered by the faculty encourages me to achieve my aspirations and to conduct innovative and ground-breaking research I feel that a PhD from KU Leuven is a solid basis for a successful academic career and I can hardly imagine a better choice than the doctoral programme at the Faculty of Economics and Business at KU Leuven (Bram Van den Bergh, PhD student) Programme Please visit www.econ.kuleuven.be/ond/eng/edu/phd/appliedeconomicsplanning for a year-by-year overview of the programme Career prospects A large majority of graduates with a PhD in Business Economics pursue careers in both academia and international business 15 Learn more www.econ.kuleuven.be/eng/edu/prospectivestudent www.kuleuven.be/ma/mbe www.kuleuven.be/ma/mabs www.econ.kuleuven.be/phd General information International programmes: www.kuleuven.be/internationalprogrammes International Office: www.kuleuven.be/english Faculty of Economics and Business tel + 32 16 32 66 12 fax + 32 16 32 66 20 www.econ.kuleuven.be/onderwijshelpdesk www.econ.kuleuven.be/eng 16 17 This brochure provides the most complete and accurate information available concerning these Master’s programmes offered at KU Leuven However, amendments to the composition of this programme may be approved at any time The study load of many Master’s programmes may increase from 60 to 120 ECTS in the future Consequently, KU Leuven is in no way legally bound by the information provided in this brochure The most recent information on all our academic programmes can be consulted at www.kuleuven.be/coursecatalogue Last updated: January 2013 Copyright: D/2012/1082/71 v.u.: Isabelle Van Geet, Oude Markt 13 bus 5005, 3000 Leuven DIENST COMMUNICATIE Oude Markt 13 bus 5005 3000 LEUVEN, België tel + 32 16 32 40 10 • fax + 32 16 32 40 14 onderwijscommunicatie@kuleuven.be www.kuleuven.be ... quality of the programme Master of Science in Business Economics The Master of Science in Business Economics programme emphasises the acquisition of fundamental knowledge and skills in an area of. .. marketing manager or stock broker This is only a small selection of the many options available to you Master of Science in Advanced Business Studies The Master of Science in Advanced Business Studies. .. studying (Silvia Vitiello, graduate) 12 PhD in Business Economics The doctoral programme in Business Economics is an advanced, four-year programme designed to train future researchers in one of