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Master of Science in Business Economics Master of Science in Advanced Business Studies PhD in Business Economics

Faculty of Business and Economics

Leuven
Leuven is a dynamic, vibrant city in the centre of Belgium, only a fifteen-minute train journey from the airport and a twenty-minute journey to Brussels, the capital of Belgium and seat of the European Union institutions. With Paris, London, Amsterdam and major German cities within easy reach, it is an ideal hub for the internationally inclined student. Leuven offers a wealth of cultural and recreational opportunities, including a lively gastronomic and social scene, state-of-the-art sports facilities and opportunities to hike and bike in the vast woodlands south of town. The humanities and social sciences campuses are scattered throughout the old town, Oxbridge style. Connoisseurs will enjoy Leuvens architecture, which spans 10 centuries and includes a truly stunning fifteenth-century Gothic city hall, a UNESCO world-heritage beguinage, and a Renaissance-style castle set in a 3 square kilometre park. The population is highly educated; many alumni choose to stay in an around Leuven after graduation. Graduates work mostly in the service-based or knowledge-based sectors, but there is also a sizable hi-tech industrial presence (with 94 KU Leuven spin-offs employing 3,000 people) and one big traditional employer, Anheuser Bush Inbev, which has a large brewery and its headquarters in Leuven.

Catholic University of Leuven


KU Leuven is a modern university offering an ideal research and learning environment strongly rooted in tradition but with sights set firmly on the future. The aim of the university is not merely to train professional experts, but also to foster critical thinking, intellectual openness, a genuine taste for culture and a sense of civic responsibility. At present, KU Leuven caters to more than 38,000 students, around 14% of whom are international scholars from over 140 countries. KU Leuven is a charter member of the League of European Research Universities, together with Cambridge, Oxford, Leiden, Edinburgh, Geneva, Strasbourg, Heidelberg and others. In terms of scholarly output, KU Leuven is consistently ranked among the top ten European universities in European surveys. Recently, it was ranked 67th worldwide in the 'Times Higher Education Supplement'. QS places KU Leuven at the 68th spot worldwide. The university is ranked fourth worldwide in terms of research valorisation. Imec, the solid-state science lab on the Arenberg campus, employs about 1,700 academic researchers and designers, delivering cutting-edge work. And yes, rumours that the Big Bang theory originated at KU Leuven are correct. Likewise, external quality assessments show that KU Leuven's teaching is on par with internationally respected institutions. This academic reputation attracts students and scholars from across the globe, creating a vibrant, multicultural atmosphere. Leuven has a truly international outlook, and its alumni can be found all over the world. 1

Faculty of Business and Economics


As one of KU Leuvens 15 faculties, the Faculty of Business and Economics 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 facultys most important assets is its vast national and international network. We maintain strong links with the business and financial community by organising regular workshops with industry leaders and the European Commission, situated only 30 minutes from our campus. Many of our alumni work at European institutions, and many of the departments staff members act as advisers to various European bodies and international companies. The student association, Ekonomika, is equally active via its Business-to-University lecture programme. Our Alumni network offers excellent communication channels and networking opportunities with leading figures in industry and politics. We have a wide international student exchange network as well. Not only do we participate extensively in the (intra-EU) Erasmus programme (with 65 partners), we also have numerous agreements with leading universities outside the EU, e.g. the Wharton School of Business (University of Pennsylvania), the University of Chicago, Cornell University, the University of Illinois and Rochester University in the United States, the University of British Columbia, Queens University, the University of Toronto and the Universit de Montral in Canada, the Indian Institutes of Management Calcutta and Bangalore in India, the Chinese University and the City University of Hong Kong, Beida, Tsinghua and Fudan in China, Chulalongkorn University in Thailand, National Taiwan University, Seoul National University in South-Korea, Queensland University of Technology Brisbane and the University of Sydney in Australia, Stellenbosch in South Africa, Insper in Brazil, Esan in Peru, the University of Monterrey in Mexico and the Singapore Management University. 2

Our view on education in business and economics


Our mission in the Masters programmes is to develop participants critical, conceptual, problem-solving and decision-making skills. A Masters degree from KU Leuvens Faculty of Business and Economics equips students with fundamental and conceptual knowledge and with analytical tools to cope effectively with the problems of the current and constantly changing business and economic environment. Adopting a research-based approach, the school focuses on the disciplines that underlie business operations and economic decisions. This enables its 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 in a high-quality graduate school. Be forewarned: our management courses are known to be more analytical than those at other business schools. Our students receive rigorous training in economics. The facultys 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 Bachelors 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. 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 Business and Economics 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 strategy, international business or finance.

Admission requirements
For Flemish applicants, see www.econ.kuleuven.be/ond/studiekiezerdiploma. For all other applicants, the following requirements apply:

Prior education requirements


Applicants should hold a university Bachelor's degree in Economics or Business Economics comparable to a Bachelor's degree in Economics, Applied Economics or Business Engineering from the Faculty of Business and Economics at KU Leuven. By a degree in Business or Economics we mean an academic education (with sufficient credits in macroeconomics, microeconomics, management, statistics, mathematics,), not a technical training (e.g. marketing or hotel management). Notice 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).

Proof of proficiency in English


All applicants must submit a satisfactory score on one of the following internationally recognised test 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 requirement is 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 degree 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; the comparability form with a course description of all relevant courses (see www.econ.kuleuven.be/eng/edu/admissionrequirements); a letter of motivation written and signed by the applicant, explaining the choice for Leuven and for this particular programme; two recommendation forms, see www.econ.kuleuven.be/eng/edu/admissionrequirements, filled out and signed, and mailed in a sealed envelope signed across the flap by the referee to the Faculty of Business and Economics. Forms not provided in a sealed envelope signed across the flap 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 that have an exchange agreement with the Faculty of Business and Economics of KU Leuven universities that 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 applicant, taking into account the relevant information. Incomplete application files will not be processed.

Application procedure
Non-EEA citizens must submit a complete application file by 1 March. Non-EEA citizens (or EEA-citizens with a residence permit for Belgium) are strongly advised to submit their application file before 1 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. 5

Career prospects
Graduates of the Master of Science in Business Economics mostly take up managerial and/or research positions in business, national and international institutions, 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, a consultant, financial analyst, financial manager, project manager, sales manager or stock broker. This is only a small selection of the many options available to you.

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 periods and exams. The programme consists of one core course, a major including a Masters thesis (15 credits), a minor and one elective course.

I joined KBC Securities Corporate Finance in 2003. In our department, we advise corporate clients on mergers and acquisitions and equity capital market transactions. Many people have an incorrect view of the financial sector and believe that it only deals with hard numbers. However, on a daily basis we experience the importance of the more personal aspects of a deal. Entrepreneurs looking to sell their company often prefer a buyer whose personality matches their own. Hence, it is not always the bid with the greatest financial merits that will be chosen. On the other hand, a large acquisition or an initial public offering on the stock exchange constitutes an important milestone in the life of a company, which has to fit within its long-term strategy. Therefore, we often carry out analyses regarding our clients market development and competitive positioning. My Business Economics degree has provided an ideal background through its combination of technical-financial courses and softer skills. Basic compulsory courses at the Bachelors level provide you with a solid foundation that can be complemented by specific elective courses, such as Strategic Analysis. Through frequent group assignments and presentations, you will gain experience in people management and problem-solving skills in very diverse contexts just like in real life! (Cedric)

MASTER OF SCIENCE IN BUSINESS ECONOMICS


COURSE

60 CREDITS
CREDITS

Core courses Strategic Management Master's thesis Major Students choose one major Major 1: Strategy, Innovation and Entrepreneurship Students select 4 courses from the following list: Innovation Management and Strategy Political Business Strategy Competitive Analysis and Strategy Economics of Global Innovation The Foundations of Entrepreneurship Introduction to Entrepreneurship Applied Game Theory and Economics of Information Major 2: International Business Core Courses - International Business Strategy - International Management Electives: students select 2 electives from the following list: - Economic Aspects of European Integration - International Business Finance - International Marketing - Cultural Issues in International Business Major 3: Financial Economics Core Courses - Macro Finance - Econometric Methods & Models - Security Pricing and Portfolio Selection Electives: students select 1 of both electives: - The Economics of Financial Intermediation - International Business Finance Major 4: Marketing International Marketing Product Management Marketing Strategy Consumer Behaviour Minor Students choose one minor: Strategy, Innovation and Entrepreneurship International Business Financial Economics Marketing Accounting and Auditing Business Research Free electives: students choose one free elective course

6 6 15 24

6 6 6 6 6 6 6

6 6 6 6 6 6

6 6 6 6 6 6 6 6 6 12

For detailed descriptions of this programme's courses and for the course timetable, please consult www.kuleuven.be/coursecatalogue 7

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 the 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
Prior education 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 and 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 (see required documents).

Proof of proficiency in English


All applicants must submit a satisfactory score on one of the following internationally recognised test 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 requirement is 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) filled in, signed, and mailed in a sealed envelope signed across the flap by the referee to the Faculty of Business and Economics. Forms not provided in a sealed envelope signed across the flap 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 Leuven and for this particular programme. The Admissions Board evaluates all applications and has the final say on the admissibility of the student, taking the relevant information into account. Application files will not be processed as long as they are incomplete.

Application procedure
Non-EEA citizens must submit a complete application file by 1 March. Non-EEA citizens (or EEA-citizens with a residence permit for Belgium) are strongly advised to submit their application file before 1 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 Masters 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.

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 from the MABS programme can also enrol in the PhD programme in Business Economics at KU Leuven.

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 SCIENCE IN ADVANCED BUSINESS STUDIES


COURSE

60 credits
CREDITS

Core Courses Students take 3 courses from this group, for a total of 18 credits 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 Advanced Regression Modelling Statistics for Finance and Insurance Actuarial and Financial Models

6 6 6 6 6 3 3 6 3 6 6 6

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Electives 18 Students take electives for a total of 18 credits from this group or: One or more additional core courses - One or more courses at PhD level, from other universities - One or more courses at PhD 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 6 Asset Prices: Basic Models and Tests 6 Simulation Theory and Applications 6 Knowledge Management and Business Intelligence 6 The Empirics of Financial Markets 6 Advanced Industrial Economics 6 Bibliometrics as a Research Field 3 Economics and Strategy of Innovation 6 Advanced Applied Econometrics 6 Survey Methodology 4 Experimental Design 4 Multi-agent Systems 4 Advanced Topics in Risk Management 6 Advanced Non-life Insurance Mathematics 6 Advanced Life Insurance Mathematics 6 Research component 24 18 Masters thesis The Masters thesis consists of a research paper in the students 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 Masters 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. Selected Research Topics 6 Students read a selection of research papers and attend seminars related to the topic of their Masters thesis.

For detailed descriptions of this programme's courses and for the course timetable, please consult www.kuleuven.be/coursecatalogue

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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 Masters 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)

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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 100 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 of Business Economics after successfully defending a doctoral dissertation.

Admission requirements
The programme targets highly motivated graduate students with a strong interest in pursuing an academic career and/or undertaking research in business studies. The programme builds on undergraduate studies in business economics but holders of other Masters degrees are also eligible. Students must demonstrate good verbal, analytical and quantitative skills.

Prior education requirements


Applicants must hold one of the following: a Master's degree in business (or a degree equivalent to four or five years of management studies) a Master's degree in another field, provided that the basics of business have been covered and other elements in the application file are outstanding and attest to a sound mathematical and statistical background. Academic performance should be above average (e.g. applicants should have obtained distinction at least twice). Admissibility is evaluated by the Admissions Board on the basis of information provided by the applicant, including certified copies of his/her degree and transcripts, etc. (see below). 13

Proof of proficiency in English


Applicants who are non-native speakers of English must provide evidence of English language proficiency. Applicants with a KU Leuven degree: Applicants who have already successfully completed an English-language programme at KU Leuven do not have to take an English proficiency test. Applicants with a university degree obtained in Australia, Canada, Ireland, New Zealand, the United Kingdom or the United States: the certified degree and transcripts suffice, provided they confirm that the entire university programme was completed in English. No other degrees will be accepted as evidence even if the applicant has followed an exclusively English-taught programme. Other applicants should submit a satisfactory score on an internationally recognised test of English language proficiency: TOEFL (minimum score 575 paper-based, 233 computer-based, 90 internet-based) or IELTS (minimum score 7). No other proficiency tests will be accepted, and no application will be considered without a test certificate.

Additional credentials
In addition to certified copies of degrees and transcripts, all applicants must provide 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) filled in, signed, and mailed in a sealed envelope signed across the flap by the referee to the Faculty of Business and Economics. Forms not provided in a sealed envelope signed across the flap 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 Leuven and for this particular programme. The Admissions Board evaluates all applications and has the final say on the admissibility of the student, taking the relevant information into account.

Profile
Students should have a keen interest in recent analytical developments in business economics and 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 Ill be halfway through the doctoral programme at the Faculty of Business and Economics at KU Leuven. When I look back at what Ive 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 Business and Economics at KU Leuven. (Bram Van den Bergh, PhD student)

Programme
FIRST YEAR Doctoral courses, a comprehensive exam about research in ones field of interest, writing a PhD proposal SECOND YEAR Research reports THIRD YEAR Doctoral seminars, presentation at an international conference FOURTH YEAR Preliminary defence and public defence of the doctoral dissertation, international publication

Career prospects
A large majority of graduates with a PhD in Business Economics pursue careers in both academia and international business.

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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 Business and Economics tel. + 32 16 32 66 12 fax + 32 16 32 66 20 studying@econ.kuleuven.be www.econ.kuleuven.be/eng

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Communications Office Oude Markt 13 box 5005 BE-3000 LEUVEN, Belgium tel. + 32 16 32 40 10 fax + 32 16 32 40 14 onderwijscommunicatie@kuleuven.be www.kuleuven.be

This brochure provides the most complete and accurate information available concerning Masters programmes offered at KU Leuven. Amendments to the composition of this programme may, however, be approved at any time. The study load of many Masters programmes may increase from 60 to 120 credits 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: February 2012 Copyright: D/2012/1082/26