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Amsterdam Institute for Humanities Research (AIHR) AIHR
Master
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Managerial Economics and Strategy (Business Economics)

The study programme

The Managerial Economics and Strategy study programme focuses on the economic performance of organisations. You will learn to understand the design of organisations, from their strategies and corporate governance to how they motivate and evaluate employees, set CEO compensation, and allocate power. These skills are highly valued by large firms in the private sector, consultancy firms and policy institutes.

The programme

Managerial Economics and Strategy is one of the tracks of the Master’s in Business Economics. During your Master's you will take 5 general courses and 4 track-specific courses. You will finish with a thesis. 

COURSES SEM 1 SEM 2 SEMESTER 1 SEMESTER 2 EC
  • Games and Strategy
    5

    In this course we use game theory to analyse optimal strategies for firms. After discussing the main concepts of game theory we apply these concepts to business strategy. We distinguish between the internal context and the external context of the firm.

  • Managerial Economics
    5

    How do you measure employee performance? And what kinds of incentives work best? Economics helps us to examine the optimal design of incentives. In this course you will learn about important principles. For example, you discuss the trade-offs between risk and incentives, bonuses and CEO compensation plans. You will also study the role of psychological factors in the workplace, such as fairness and intrinsic motivation.

  • Applied Econometrics
    5

    In this course you learn about regression data analysis. You will learn to master powerful tools to analyse empirical relationships. We pay particular attention to the statistical assumptions underlying the basic model. We will cover the analysis of: (1) experimental data, (2) panel data and (3) time series.

  • Behavioural Economics for Business
    5

    Classical economics assumes that agents are rational and selfish. Behavioural economics challenges both assumptions. You will study individual choice: bounded rationality concepts in decisions under uncertainty, information processing, judgement, time preferences and heuristic decision-making. You will also explore strategic interaction, especially social preferences and reciprocity.

  • Markets and Organisations
    5

    In this course you will learn about topics related to the theory of the firm: what are firms, why do firms exist, and why does the existence of firms matter? You will discuss them both from a theoretical and an empirical perspective. You are required to understand articles that discuss economic theory as well as econometric applications.

  • Experimental Economics
    5

    In this course you will learn the basic methodology of experimental economics: how to design a simple experiment, including writing instructions. You will practise both laboratory and field experimentation revolving around industrial organisation, labour economics, behavioural economics and individual and group decision making.

  • Power and Authority in Organisations
    5

    The course first discusses the nature and potential sources of authority and decision rights within organisations. It then focuses on the allocation of decision rights among individuals within firms. The central theme is how the extent of centralisation or decentralisation of authority is affected by the acquisition and dissemination of knowledge.

  • Restricted choice electives
    5

    This is a list of mandatory electives. You choose one course from this list (5 ECTS). Note that if you choose the period 2 course, the study load is not spread equally over the year. - Advanced Industrial Organisation (5 ECTS) - Behavioural Business Ethics (5 ECTS) - Behavioural Finance (5 ECTS) - Competition Policy (5 ECTS) - Performance Management (6 ECTS)

  • Research Seminar Managerial Economics and Strategy
    5

    Formulating a good research question for your thesis can be challenging. This course helps you find one, by discussing your ideas with faculty members and fellow students.

  • Master's Thesis Managerial Economics and Strategy
    15

    The academic programme culminates in a thesis, which allows you to engage with state-of-the-art data analysis and statistical techniques. The Master’s thesis is the final requirement for your graduation. It is your chance to dive deep into a topic in your field of choice (track) that you are enthusiastic about, and allows you to do an independent research project. A professor of your track will supervise and support you in writing your thesis.

Compulsory course
Elective
Send me the course schedule + programme summary

Do you want to know more about the courses?

The course catalogue provides detailed information for each course, including subjects, assessment methods and recommended literature.

Check the course catalogue for all details

Honours programme

If you are a student of the Business Economics MSc and you have a record of academic excellence, a critical mind and an enthusiasm for applied research, then our Business Economics Honours programme is a great opportunity for you. 

More about the Honours programme
The lecturers are quite flexible and always willing to assist when asked to. With students coming from a variety of countries, the environment is very international. Bringing a lot of fun and interesting experiences. Guy Tocker Read about Guy's experiences with this Master's
Experience the programme
Real-life case: redesigning compensation to retain top talent

A wealth management firm serving high-net-worth clients has recently lost several of its top-performing financial consultants to competitors. Leadership suspects the firm's compensation structure is at least partly to blame, and has asked you to redesign it. 

You begin by analysing the current package to identify its strengths and weaknesses, drawing on insights into why the firm's best consultants chose to leave. Building on this diagnosis, you then design an improved compensation structure: What mix of incentives will attract and retain top performers? How should bonuses be sized and structured to reward performance without encouraging excessive risk-taking? You present your recommendations, along with alternative approaches and their trade-offs.

Frequently asked questions
  • When do I need to select a specialisation track?

    A specialisation track must be chosen when applying for the Master’s programme. However, track modifications are still possible until late October. The criteria for all tracks are identical and do not impact the likelihood of being accepted into the programme.

  • How many students are in the programme?

    Our Master’s programme admits around 35 students per specialisation track. If you meet the entry requirements, you will always be accepted; this Master’s does not have a numerus fixus.

  • What are the weekly contact hours?

    Most courses have one 2-3 hour lecture and one 2-hour tutorial per week. Generally students take 3 courses at a time, so count on about 12-15 contact hours per week.

  • Will all lectures be held in person, or will there be options for online attendance?

    Our preference is for in-person lectures. Certain sessions may be pre-recorded or follow a hybrid format. This entails preparing for Question and Answer (Q&A) sessions through video clips and readings, with subsequent discussions during meetings.

  • Is attendance compulsory for lectures, tutorials, and other sessions?

    Attendance is usually not compulsory for lectures, but commonly for tutorials and other sessions. Students greatly benefit from being present and engaging in discussions with both the instructor and their classmates.

  • What is the typical method of assessment for most courses?

    The majority of courses have a final written on-site exam. Most courses have additional assessment methods, including oral presentations, developing research proposals, conducting experiments and writing up results. Finally, some courses grade active participation. This is reflected by attendance and activity in tutorials and online assignments.