Master of Science in Business Economics PhD programme in Business Economics

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1 Master of Science in Business Economics PhD programme in Business Economics Faculty of Economics and Business KU Leuven. Inspiring the outstanding.

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3 Discover KU Leuven. Situated in Belgium, in the heart of Western Europe, KU Leuven has been a centre of learning for nearly six centuries. Today, it is Belgium's largest and highest-ranked university and, founded in 1425, 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 international master s programmes, all supported by high-quality, innovative, interdisciplinary research. Since its founding, KU Leuven has been based in the city that shares its name. Leuven is a pleasant, safe and bustling student town, where centuries-rich history meets cutting-edge science. The university also offers degree programmes at campuses in 11 Belgian cities, including Brussels, Ghent and Antwerp. The Faculty of Economics and Business has established its place amongst the top business schools in the world by acquiring the European Quality Improvement System (EQUIS) accreditation for its four campuses. The EQUIS accreditation is awarded by the EFMD, recognized globally as an accreditation body of quality in management education with established accreditation services for business schools and business school programmes, corporate universities and technology-enhanced learning programmes. 8 feb.kuleuven.be/home/equis Obtaining the EQUIS accreditation is achieved with a balance between academic rigour and professional relevance which is provided by our close interaction with the corporate world. EQUIS attaches particular importance to the creation of an effective learning environment that favours the development of students managerial and entrepreneurial skills, and fosters their sense of global responsibility. It also looks for innovation in all respects, including programme design and pedagogy. Our innovation comes from deep faculty involvement in their respective disciplines. Faculty members and members of the administration are active in international conferences and thus discuss programmes in their respective fields with colleagues from around the world. In addition, a number of faculty members teach short-term courses internationally or have joint appointments with international universities. The accreditation affirms FEB's place amongst the select group of accredited schools such as Amsterdam Business School, BI, Copenhagen Business School, Edhec, HEC Paris, IESE, IMD, Insead, Judge, London Business School, Melbourne Business School, RSM, Saïd, Stockholm School of Economics, Tsinghua,... 1

4 Why the Faculty of Economics and Business, Campus Leuven As one of KU Leuven s 16 faculties, the Faculty of Economics and Business offers bachelor s and master s programmes at four campuses: Leuven, Brussels, Antwerp and Kortrijk. Its activities in Leuven include high-level education, innovative research and service to partners in government and the corporate world. These activities are organised by five research departments: Accountancy, Finance and Insurance Decision Sciences and Information Management Economics Managerial Economics, Strategy and Innovation Marketing and Organisation Studies The faculty s graduate-level and doctoral programmes aim to develop participants critical, conceptual, problemsolving 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. 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 aims to excel by offering research-based education in economics and business science while never losing touch with the corporate world and government circles. The faculty interfaces with business via a Corporate Council and a wide network of Fellows from the corporate world. It maintains an active partnership with Vlerick Business School and regularly organises workshops and discussion platforms with leaders of industry and government, e. g. the European Commission, situated only 30 minutes from the campus. It also cooperates with other faculties at the university, and with partners and institutions all over the world. One of the faculty s most important assets is its vast national and international network. Many alumni work at European institutions, and many staff members act as advisers to various European bodies and international companies. The faculty s worldwide alumni network offers excellent communication channels and networking opportunities with leading figures in industry and politics all over the world. External quality assessments confirm that the Faculty of Economics and Business teaching and research meet the highest international standards. As a result, the FEB earned the EQUIS accreditation awarded by the EFMD, recognized gobally as an accreditation body of quality in management education

5 This academic reputation attracts students and scholars from across the globe, creating a vibrant, multicultural atmosphere. This international focus is also clear in the faculty's wide international student exchange network. The Faculty of Economics and Business participates extensively in the (intra-eu) Erasmus programme (with 82 partners) and has numerous agreements with leading universities outside the EU, including: the Wharton School of Business (University of Pennsylvania), the University of Illinois, Rochester University and FIU 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, Fudan and Beijing University in China, the University of Sydney and the University of Adelaide in Australia, Stellenbosch University in South Africa, Insper and PUC Rio in Brazil, the UAI in Chili, Singapore Management University and several other top business schools around the world. A list of all partner universities can be found at: 8 3

6 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. 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 Belgian applicants who completed their prior education at a Flemish institution of higher education, see the admission requirements for Master (of Science) in de toegepaste economische wetenschappen ( or 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, Campus Leuven. Applicants should have a solid background in macroeconomics, microeconomics, mathematics and statistics. During their prior education, applicants should have acquired the basic conceptual frameworks of diverse areas of management / business and have a sufficiently broad view on the general economic and social contexts in which business operates as well as on the human networks within these organisations. Degree comparability is evaluated by the Faculty on the basis of the documents provided by the applicant through the official online application procedure ( 4

7 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; a course description of all relevant courses; a letter of motivation written and signed by the applicant, explaining the choice for KU Leuven and for the particular programme. two recommendation forms (see completed, signed and posted in a sealed envelope signed over the lid by the referee to the Faculty of Economics and Business, Campus Leuven. 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, Campus 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 otherwise impossible to reliably assess degree comparability. In those cases, a GMAT or GRE result above the 75th percentile on the quantitative part is required. The Faculty evaluates all applications and has the final say on the admissibility of the student. Incomplete application files will not be evaluated.

8 Application procedure Non-EEA citizens must submit a complete application file by 1 March. EEA citizens (or non-eea citizens with a residence permit for Belgium) are strongly advised to submit their application file before 1 June. Tuition fee: 890 EUR (EEA-citizens), 1,750 EUR (Non-EEA-citizens) For more information on how to apply, please visit 8 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 60 ECTS COURSE ECTS CORE COURSES 6 Strategic Management 6 MASTER S THESIS 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 6 International Management 6 Competitive Analysis and Strategy 6 Political Business Strategy 6 Economics of Global Innovation 6 Innovation Management and Strategy 6 Major 2: Entrepreneurship Entrepreneurship and New Business Development 6 The Foundations of Entrepreneurship 6 Organising for Entrepreneurship 3 Entrepreneurial Finance 3 Strategic IP Management 3 Intrapreneurship 3 6

9 COURSE ECTS Major 3: Financial Economics Credit and Banking 6 Business Finance 6 Macro Finance 6 Security Pricing and Portfolio Selection 6 Major 4: Marketing International Marketing 6 Marketing Strategy Modelling 6 Consumer Behaviour* 6 Brand Management 6 Social Marketing 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, Personnel and Organisation. FREE ELECTIVES: students choose one free elective course 3 or 6 For detailed descriptions of this programme s courses and for the course timetable, please consult 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 for instance 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. * Students who did not take this course as part of prior coursework are required to take this course. 7

10 EXTENDED MASTER Study an extra semester abroad at one of the faculty's exclusive partner universities. The Faculty of Economics and Business has close links with top business schools around the world, such as Copenhagen Business School in Denmark, University of Cardiff in the UK, Hanken in Finland, SKEMA Business School in France, the University of Illinois in the United States, the University of Sydney and the University of Adelaide in Australia, Queen s University in Canada, Tsinghua and Fudan University in China, PUC in Brazil, City University of Hong Kong and many more institutions both in Europe and overseas. For students in the MSc in Economics and MSc in Business Economics, the faculty offers an additional semester at one of these destinations after completing 2 semesters in Leuven. Make your experience truly international by studying in different parts of the world. 8

11 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 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 the other elements in the application file are outstanding; and should have a sound background in mathematics and statistics. Academic performance should be above average (applicants should have obtained distinction (honors) at least twice for the university diplomas. Students applying for the PhD programme should have a promotor at the Faculty of Economics and Business, KU Leuven, Campus Leuven, before applying. 9

12 Language requirements Proof of proficiency in English Applicants who are non-native speakers of English 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 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. Other 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. The test results should not be older than 5 years. A GRE or a GMAT test result above the 75th percentile on the quantitative part is required to enter the program, provided all other requirements are met as well. The requirement for a GRE/GMAT or TOEFL/IELTS score can only be waived in exceptional circumstances. For more information, contact your supervisor. The supervisor needs to confirm in writing (e.g. ) that he/she is in favor of waiving the GRE/GMAT or TOEFL/IELTS score. a letter of motivation written and signed by the applicant, explaining the choice for KU Leuven and for this particular programme. The Faculty evaluates all applications and has the final say on the admissibility of the applicant, taking into account the relevant information. Application files will not be processed as long as they are incomplete. 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. 10

13 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) Application procedure For information on how to apply, please visit 8 Programme Please visit 8 feb.kuleuven.be/eng/leuven/edu/phd 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 business. 11

14 Learn more General information Publications Faculty of Economics and Business Naamsestraat 69 box LEUVEN tel fax

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16 KU LEUVEN Oude Markt 13 bus LEUVEN, Belgium This brochure provides the most complete and accurate information available concerning these graduate programmes offered at KU Leuven. However, amendments to the composition of these programmes may be approved at any time. 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 Last updated: February 2015 v.u.: Isabelle Van Geet, Oude Markt 13, 3000 Leuven