VOLUME 16 ISSUE 3
16-3 Meet the committees → 04
Orientation Days → 20
Basketball Tournament → 11 Chef Möller → 10
Photopage → 17
FAECTOR Party → 16
Active Members Weekend → 18
Interview with Actuarieel Genootschap → 06
Jouw studievereniging wil het je zo voordelig en makkelijk mogelijk maken. Dus hebben ze een boekenleverancier die daarbij past.
Jouw studievereniging werkt nauw samen met studystore. En dat heeft zo z’n voordelen. Doordat we snugger te werk gaan, kunnen we jouw complete boekenpakket snel aanbieden tegen een scherpe prijs.
PREFACE
01
FROM THE PRESIDENT Dear reader,
The sun is shining and the birds are chirping. Yes indeed, you are reading the Estimator of 2014’s spring. Although I should not use such a poor bridge, I am going to do it anyway: the sun is shining for the ED as well. As you definitely would have noticed in the recent two months, the ED is enjoying the sun for the last four months. After that, the sun will shine even brighter for FAECTOR. I am quite sure that you cannot have missed the announcement of our name change, but just in case: from 1 September 2014 the ED will continue as FAECTOR, Faculty Association Econometrics & Operations Research.
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What an innovative, busy, but above all amazing period we are currently going through. I am aware that the intensive studying student in you has been studying through the nights to ensure that another twelve ECTS are in the pocket, but I also know that you have not been able to resist participating in one or more of our events. In fact, this really is a good thing because the combination of developing your academic skills through the great Econometrics programme here in Rotterdam and exploring yourself through both social and career events of the ED makes you the complete student that Rotterdam is known for. Our team of reporters, the Estimator Committee, has collected and worked out the best reports of the last months to let you relive the events or to make you enthusiastic for the activities yet to come. With the FAECTOR Party, the City Trip to Dublin and multiple Inhouse and Orientation Days, there is once more enough to share this edition of the magazine. Also nice to say is that, as the end of the academic year is approaching, my fellow board members and I are currently in full swing looking for our successors. Not knowing yet who it will become, I am already proud of these brave seven who are going to take over our task of organising a year full of fantastic events for all students econometrics. The last block of ED-activities this academic year means also the last block of courses this academic year for you. Make sure that you are fully charged again to go for it and to finish the year successfully. Enjoy reading this Estimator and I look forward to see you at one of our upcoming events! All the best, Bas Vringer President
VOLUME 16 ISSUE 3 - ESTIMATOR
ECONOMETRISCH DISPUUT
VOLUME 16 ISSUE 3
02 TABLE OF CONTENTS 01. From the president // 02. Table of contents // 03. Preface Estimator 04. Who is who? // 06. Company Interview // 08. City Trip // 10. Chef 11. Basketbal Tournament // 12. Booz & Co // 13. Optiver 14. About Rotterdam // 15. Puzzle //16. Faector Party // 17. Photopage 18. Active Members Weekend // 20. Pointlogic // 21. Hypercube 22. Adventures // 24. Gala // 26. Alumnus Talks // 28. Agenda 29. Recnet // 30. EducationBoard // 31. EducationCommittee 32. Graduates
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Inhouse Titel Day
Read about riatur maionse the dipissi Inhouse tatiam Day atet quam,&volupta Booz Co andquaepudi learn more reic to et quod about Booz quos&×Co!
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City Trip
The Puzzle
This year the City Trip went to Dublin! Read about the trip and look at the nice pictures!
After 2 editions, the puzzle is back! Find the solution and send it in!
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Orienation Days
The Orientation Days were a really succes. Both the company and the students were very positive!
ADVERTISEMENTS 00. Studystore // 06. Actuarieel Genootschap // 33. Econometrie.com // 34. QFT
COLOFON
Final Editing > Joris Blokland, Lars van Kempen Editorial Office > Florine Groenen, Joris Blokland, Thomas van ‘t Westeinde, Emrys Komen, Ruud Moers, Hilton Nicholas Khorazon, Lars van Kempen Office address > Erasmus University, Room H11-02, P.O box 1738, 3000 DR Rotterdam, estimator@ectrie.nl Acquisition > Max Schotsman, phone: 010 - 408 14 39 Circulation > 900 copies Printer > Nuance Print Design/DTP > Het Econometrisch Dispuut. Estimator is a periodical from the Econometrisch Dispuut
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ECONOMETRISCH DISPUUT
EDITORIAL
 03
A WORD FROM THE ESTIMATOR COMMITTEE
Dear reader, This is already the third Estimator, you have in your hands! In this Estimator you will find a big mix between social and career articles. Multiple In-house Days and Orientation Days have passed, but also a basketball tournament, the Active Members Weekend and many more events have gone by. Next to the reports of the different activities, we have a puzzle for you for the first time this year! To compensate that we forgot a little about the puzzle in the previous editions, we placed two puzzles this time, to make it up for you! If you want to win the immense, awesome and colossal price, you should submit your solutions to estimator@ectrie.nl. The last thing I want point out to you is the FAECTOR Party that was held on the 6th of March. We revealed the new name for our association, which we will use from 1 September 2014 onwards. I wish you a lot of reading pleasure and don’t laugh too hard at the pictures! On behalf of the Estimator Committee, Joris Blokland
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>> ECONOMETRISCH DISPUUT
04 WHO IS WHO: ECD & IT COMMITTEE
> Hello all, my name is Robert Arends and I’m a third year econometrics student. Some of the freshmen might recognize me from the tutorial sessions of Inleiding Programmeren, where I am a student assistant. I was born and raised in Zoetermeer, where I still live. In my spare time, I like (playing and watching) soccer and rollerblading a lot. Currently I am a member of the ECD committee. The Econometric Career Days is a wonderful opportunity to get in touch with the econometrics business sector. The event will be amazing and I am looking forward to see you all participating!
> Hey guys :), My name is Jan and I am a second year BSc² student. I have been active within the ED already last year as a member of the Freshmen Committee. In a group of six students we organized cool activities for our class mates and had a lot of fun doing so. This is also why I decided to join another EDcommittee this year. Currently, we are looking forward to organizing great Econometrics Career Days for all ED-members next fall. In my free time I love playing volleyball at Erasmus Volley and am also active as ambassador for our faculty and representative of the international students in the Econometrics Educational Board.
> Dear Econometricians, I am Tom van der Heijden and I am currently a member of the Econometric Career days Committee. My residence is currently in the beautiful Rotterdam South, the cultural hub of Rotterdam. Views of the Erasmus bridge, witte huis, cubic houses and Willemsbrug are part of my daily routine of cycling to the campus. After 3 years of enjoying our lovely Rotterdam, one year of studying IBA and two years of Econometrics and a year and a half of enjoying SKADI I decided to do a committee at the Econometrisch dispuut. I will see you all at the ECD 2014!
> Hi my name is Mechteld Ferment. You probably don´t know me very well, since I only did one real committee: the Almanac committee. But this committee was awesome and the result was beautiful! There was a dark time when I was an active member in some other association. Shame on me! I like to make bets because i think i am a very good pool-player. However, I keep losing from two awesome players. But hey, who wouldn’t? Soon I will try to win in another game, but the odds are not in my favour. Maybe you read more from me after that game!
> The Econometric Career Days (ECD) is the two-day career event for econometricians at the EUR. After the successful first edition of last year the committee will organise this event again on the 18th and 19th of November 2014.
> Hi my name is Eric Slob. Sorry, I’m too complicated to be described in a couple of words. I’m a puzzle, yes indeed. Yet I will try. The day I was born, the nurses wept in despair, for they knew they would never see a child such as me again. My hobbies include experiments into controlling the weather, and a successful attempt to breed dolphins and humans. I don’t need these lines to get laid. I am humble. I have no need to brag, but I do live on the ‘vijverlaan’ and drive a Rolls Royce Phantom. I am engaged to Candice. Don’t look for me, I will find you…
> Hi everyone, My name is Florian Maas and currently I’m working on obtaining my masters degree in Operations Research and Quantitative Logistics. During the first months of this academic year I participated in the almanac committee, and since i enjoyed it I decided to join another committee; the IT committee. Next to studying and being an active member at the ED, I enjoy hanging out with friends, playing fieldhockey, playing guitar, and running around ‘de Kralingse Plas’.
> As the advisor of the IT Committee, I steer three young and talented econometricians who support the board with all tasks having to do with Information Technology. Unfortunately, our newest member Nemanja Milovanovic was not able to write an introduction anymore buy you will surely get to know him in the future. Together with Eric Slob and Florian Maas, we are determined to innovate the IT of our association as good as possible this year. At the moment, our main projects concern the name change, several software programs, webhosting .and the ED NetworkAttached Storage (EDNAS). For suggestions, you can send an email to it@ectrie.nl.
The event will start with a grand opening. In the afternoon we will visit the harbor of Rotterdam and offer workshops to second years and higher. The second day consists of cases by companies from all the master directions of econometrics The whole event will be topped off with a large party! VOLUME 16 ISSUE 3 // ESTIMATOR
ECONOMETRISCH DISPUUT
WHO IS WHO: ALMANAC & IRP COMMITTEE
> Hi, My name is Felix Mourer, 20 years old and I’m a third year Econometrics bachelor student. This year I decided to become a member of the Almanac Committee of the ED! Besides being active at the ED, I’m also member of the student fraternity RSC, rowing club SKADI and the B&R Beurs Investment Society. At all these places, you get to know lots of new people and hang out with new friends. With the Almanac committee I’m working with a wonderful group of students and the committee is looking forward to present you the Almanac at the beginning of the next study year.
> Dear readers of the Estimator, My name is Olivia The, a first year Econometrics student and a member of this year’s Almanac committee. Next to all the studying I like to go for a run, play some tennis on the court and play lots of music on piano, saxophone, and guitar. I also like to hang out with friends and find the places where you can eat delicious food in Rotterdam. I expect to present you a great new Almanac this fall, with all the amazing events that have been going on this year!
> As an IRP Committee member you contribute to one of the biggest and oldest projects of the ED; the International Research Project. This project consists of two parts: an internship and a study trip. This committee makes sure the participants will do an extensive research internship as commissioned by the participating companies. After the valuable working experience the participants will be rewarded with an amazing trip, organised by the same committee. This trip focusses on experiencing cultural activities, looking for the most famous and unique locations and visiting companies and local universities.
> Hi, everyone! My name is Bob Muijs and I’m a second-year BSc2 student from Enschede, the Netherlands. In my first year, I wanted to become an active member of the Econometrisch Dispuut and decided to apply for the Freshmen Committee, mainly because I thought organising events for the first-year students would be fun. This year I am both the chairman of the Freshmen Committee and a member of the IRP Committee 2014-2015. I have always loved going to the ED events and the social drinks in particular. For the next couple of years, I want to be as active and involved in the ED as possible.
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> Hi there, My name is Michael van Enkhuizen and I am 19 years old. Currently I am a member of the almanac committee, which brings a lot of fun. I was born and raised in a town near Den Bosch, a beautiful city. This year I started the econometric bachelor, and therefore moved to Rotterdam. Now I live with four other guys in Kralingen. I also like to do some sports, like hockey. Furthermore I really like some good food and a drink with friends. Hopefully this year’s almanac will become a great success!
> The almanac committee is of course responsible for the almanac! This year we are aiming to publish the almanac early in the new academic year. We have already chosen a fantastic theme and the ideas for the almanac are getting more crazy every meeting.
> Hi everyone! My name is Emma Brocken and I’m in the International Research Project committee. I wanted to join the committee because an internship is very useful and I think it is a lot of fun to organise a study trip. In my free time I like to cook and I like to play basketball at ebv Baros. I hope to see you all soon at one of the drinks!
> Hello, My name is Kevin Liem, and I’m a second year student. At the moment, I am part of the International Research Project committee. This may sound exciting, but it basically means working in a callcentre. Next to my studies, I go to the gym a few times a week and hang out with friends. I’d like to spend more time talking about myself, but I have to make an assignment and I’m running out of time.
If you want an updated photo of yourself in the new almanac, please send an email to: almanac@ectrie.nl with your personal details and your new photo! We are looking forward to show the new almanac to you!
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06 CAREER
INTERVIEW WITH ACTUARIEEL GENOOTSCHAP The Royal Dutch Actuarial Association (Dutch Actuarial Association), the Dutch association of actuaries and actuarial analysts, was founded in 1888 and celebrated its 125th anniversary last year. Thanks to its many connections with actuarial organisations all over Europe and worldwide, membership of the Dutch Actuarial Association opens myriads of opportunities to start work internationally as an actuary almost immediately.
> If you ask any random econometrics student what he sees himself doing in five to ten years’ time, the likelihood that he or she sees himself working as an actuary is very small. It is even doubtful whether the econometrics student would have even contemplated becoming an actuary or knows anything about what the work of an actuary involves. Although the actuarial profession has been listed amongst the best jobs by Elsevier for some time, it still seems to be the victim of obscurity. This was the reason that we made the trip to Utrecht to the head office of
the Dutch Actuarial Association and the Actuarial Institute to find out what opportunities this profession offers, if one ventures out to become an actuary, and which path one has to follow to become one. As we entered the office we were warmly welcomed by the secretary, who took us to the second floor, led us to the room where the interview was scheduled to take place and offered us refreshments while we were waiting for Jeroen Breen, the Managing Director of the Royal Dutch Actuarial
Association and the Actuarial Institute. After we had surveyed the room for a few minutes, in which we observed several references to and presents given by other actuarial associations throughout the world, Jeroen Breen walked in and introduced himself to us. Gradually the interview gathered steam, with Jeroen Breen showing an interest in our studies and asking about our sports activities, and Joris claiming he visited the gym on a regular basis. We already had the impression that the interview was not going to be very formal, so we felt comfortable, interrupting Jeroen if we needed a further explanation of any points or if we did not exactly understood what he meant. First of all, we asked how Jeroen had ended up in the world of actuarial science. He replied that his first contact with actuarial science was at the end of his mathematics degree at the Eindhoven University of Technology. In 1992 he went to a large conference about ‘Working in the financial world as an IT specialist or mathematician.’ At this conference he spoke to numerous actuaries and was immediately drawn to the profession. One of them explained it as ‘Modelling,
premiums, more or less the same as econometrics, but then applied in practice.’ Despite his enthusiasm at that time he decided to become a mathematics teacher. After a while he reached the conclusion that he could always return to teaching in the future. As he was still very interested in actuarial science, he applied for a job with an actuarial consultancy firm. He was appointed and, alongside his work, he returned to studying at the university, but this time the University of Amsterdam. Since Jeroen had studied mathematics he received exemptions for parts of the study. Shortly after this, in 1996, Jeroen joined the Dutch Actuarial Association as an actuary. He worked for various companies as an consulting actuary but also as certifying actuary until 2011. Three years ago he took up the post of Managing Director of the Dutch Actuarial Association and of the Actuarial Institute. What does an actuary do? Actuaries can be found in many different branches, such as consultancy firms, insurance companies, pension funds or financial institutions. In all branches, actuaries are involved in risk management and translating these risks into a
Every time one watches the news or opens a newspaper there are hardly any news items that do not involve actuarial science in some way.
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CAREER
07
Every year the Dutch Actuarial Association award the ‘Johan de Witt Prize’. It is awarded to the student with the best thesis that includes actuarial science in one way or another. particular policy. Every time one watches the news or opens a newspaper there are hardly any news items that do not involve actuarial science in some way. Examples of these are articles about the funding ratios of pension funds or the pension system as a whole, or the calculation of insurance premiums. Actuarial science involves much more than just numbers. For instance, solidarity plays an important role in insurance and touches on issues such as whether to raise the premiums of people who smoke or lower those of people who regularly participate in sport or eat more healthily. How to become an actuary? In the Netherlands, there are several paths to becoming an actuary. The first option is to complete the master’s degree offered by the Actuarial Institute together with TiasNimbas. The Institute also offers a pre-master’s programme which consists of a number of modules. As a student you are given considerable freedom to plan your study. After this, students join a group. As part of the group students cooperate in various case studies over a period of two years to complete the master’s degree. Often close bonds are formed within the groups during these two years. Another option is to complete the Master of Actuarial
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Science degree at the University of Amsterdam. Students first have to complete a pre-master’s programme. If students have completed a bachelor’s degree in econometrics or actuarial science they are granted exemptions for several courses. As a result, the pre-master’s programme will only consist of a few courses. The master’s degree itself consists of participating in actuarial case studies in groups. Both programmes are good. Which path best suits particular students will depend on their personal circumstances. What is the Dutch Actuarial Association? The Dutch Actuarial Association is a professional association. As a professional association it is responsible for ensuring that its members practise their profession as an actuary properly. Once admitted, the continuation of membership is not automatic. The Dutch Actuarial Association is a strong believer in continuous professional development (CPD). Members have to develop their skills continuously and they are required to attend a certain number of lectures on actuarial science, some of them provided by the Actuarial Institute and others by a wide variety of parties involved in various ways with actuarial science. One of the benefits of CPD is that actuaries earn respect, as their work is assessed by the Association. Membership entitles actuaries to use the title AAG (Actuaris member of the Actuarieel Genootschap). This qualification also means that actuaries are
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authorised to practise their profession abroad because the Association has mutual recognition with actuarial associations in Europe. Who is Johan de Witt? As Joris and I entered the office, we noticed that the name for the building was ‘Het Johan de Witt huis’. The building is shared by the Dutch Actuarial Association and the Actuarial Institute. They are two separate organisations, but, of course, they are related and share the same management. Who, however, is Johan de Witt? He is considered to be the founder of modern insurance mathematics. Every year the Dutch Actuarial Association award the ‘Johan de Witt Prize’. It is awarded to the student with the best thesis that includes actuarial science in one way or another. Every student is allowed to compete, as long as actuarial science is included in the thesis. The award consists of a prize of EUR 5000. For more information, visit the shared website of the Dutch Actuarial Association and the Actuarial Institute (www.
ag-ai.nl). If I am interested in working as an actuary, what should I do? It is very important to talk to as many actuaries as possible to find out more about the profession. You could, for example, attend the annual actuarial conference which will be held in Almere on May 22th this year. You should also give some thought to where you would like to work in the future. Call for example an actuarial consultancy firm and try to start work right away as a student one or to days a week. This will enable you to familiarise yourself with the world of actuarial science. Try to persuade an employer to sponsor the cost of your education, since the Master of Actuarial Science is private education and is therefore not that cheap. Read up wherever possible about actuarial science, subscribe to the magazine De Actuaris or follow actuaries on social media. Ruud Moers & Joris Blokland
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08 SOCIAL
ED CITY TRIP 2014 DUBLIN
During one of the various eventful nights so far this year, the ED announced the destination of the famous city trip this year. The city to be explored by a group of around 60 econometricians would this year be the capital of Ireland: Dublin. Being a destination where one would not venture on its own very fast, many of us had not yet been to this buzzing city and so most of the excited adventurers were wondering what exactly Dublin has to offer. > To answer all of the questions, the Activities Committee hosted an information night to present several activities that would be completed during the weekend. Those who had registered for the trip on time(the 60 spots were filled within a mere 10 minutes!) were welcomed on Thursday night the 27th of March in one of the CT lecture halls, where the tone would be set for a weekend to remember. Upon arrival, music was playing and drinks were flowing, making sure the atmosphere was great as is always the case in ED events. The program for the weekend was briefly explained, as were important details such as flight numbers and information about the hostel. For those who were unable to make it to this last
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minute meeting, the Activities Committee also made a booklet including all the relevant information accompanied by photos of all the attendees. All packed and ready for departure most of the travelers gathered at Rotterdam Central Station around 10:20 on Friday morning. Making sure everyone had their passports on them and didn’t forget anything important such as medication, the AC made sure to check all present members for these. This turned out to be a good move, as in fact one of the members of the organizing committee forgot his passport and was forced to go back home to pick it up! Luckily it turned out not to be of any trouble and he was soon reunited
with his fellow group of econometricians. Having arrived at Schiphol, it was time to check in. Being divided up into three big “travel groups” we quickly sliced through the checks and soon found ourselves strolling through the See Buy Fly area of Schiphol airport, awaiting our gate to open and for boarding to begin. As soon as we entered the airplane it quickly became clear that our group was by far the largest and loudest of all passengers, as banter and laughing quickly stormed through the airplanes passenger area. To some peoples content, and to others dislike, this banter continued up until arrival allowing for people to get to know each other (as seats were randomly distributed).
a group, we also had an amazing pub-crawl organized by a “Viking” organization. Starting off at a huge pub in the heart of Dublin, we ventured into the night where we rushed through several amazing yet different pubs each time. The second pub offered not only more amazing Guinness (yes, this was indeed one of the highlights of the weekend!) but other beer as well, which was more suitable for playing beer pong. This pub indeed had three beer pong table set up, ready for us econometricians to use. All being in a jolly mood already, we left for the next pub to visit. This pub was not just any pub, but was a pub famous for its whiskey. Of course, pubs famous for already expensive drinks are expected to be even more expensive than the average pub serving the same drink. Completely in our luck however, this pub served their whiskeys for only five euros each! This, along with the live Irish music made that pub into one of my favorites, as the atmosphere in that pub was incredible. The Irish music is in itself very interesting and definitely something everyone has to witness once in their lives, but the Irish people singing along to it makes it just a little bit better. Completely jolly now, we moved onto the next two pubs, which
The first night our group of 60 ventured to a restaurant which offered us several options of delicious meals. Some of us devoured the local Fish and Chips served with our first out of many pints of Guinness. Not only did we have a delightful dinner as
ECONOMETRISCH DISPUUT
SOCIAL already looked more like clubs. The first of the two offered a main stage and dance floor downstairs, which attracted the excited party animals like moths to a flame. The main stage, didn’t include a live DJ however, and so some of us kept their dance moves for later and instead opted to have another drink at one of the many bars that the upstairs department had to offer. Personally, I found what came next the best attraction of the weekend. All those who still had energy to make it to the next “pub” (which was in fact a club) gathered and jointly moved to the last venue of the night; Club Village. Being arguably one of the best clubs I have been to, this venue offered an amazing stage with dance floor and bar at the back of the same room. The dance floor was reserved for dancing only, and so drinks were not allowed to be taken from the bar into the dancing area. This turned out to be a good idea, as the last party animals continued enjoying the incredible tunes played by an amazing DJ until the club closed. Surprisingly, the turn up rate for the “Viking tour” the next morning was large. Having slept only a couple of hours, most of the travelers were still eager to familiarize with the Irish culture and enjoyed most of Dublin’s
focal points such as Trinity College, Dublin Castle and much more. The rest of Saturday was free for everyone to do what they want. Some decided to powernap, while others explored Dublin’s small but cozy pubs and had a good lunch to prepare for yet another great night out. Club M is known to be one of the better clubs in Dublin, and the AC managed to get us in for free with access to the VIP area. At 22:00 we gathered at the hostel, from which all those interested left to have yet another great night in Dublin. Club M appeared to have relatively cheap cocktails, which were enjoyed in the VIP area swarmed with members of the ED. After a while, more and more locals filled the dance floor and so it was time for us to accompany them and repeat the night before. Sunday morning turned out to be a more relaxed morning. A brunch was organized and so getting up for breakfast was not needed. A group of about 30 people who had managed to once again get up early after an exhausting second night out set
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out for the venue that would turn out to be much like paradise itself, serving the most amazing Irish breakfast and fresh orange juice. We stuffed our faces and found ourselves tired, yet excited for what the day had to offer.
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most clubs were closed), several fierce adventurers rallied to one of the only clubs that was open on Sunday nights, apparently comparable to Rotterdam’s “Skihut”! The following morning it hit us. It
This humungous bar offered over 140 different types of whiskey! Sunday offered the Guinness storehouse tour, where we would get insights as to how Guinness is exactly made and how it is distributed on a global scale. The 7th floor of the storehouse offered a bar with panorama view, where we sat down regaining some of our strengths over yet another pint of Guinness. Sunday night was a quite night, where most of use enjoyed a relaxing night at one of the most famous pubs of Dublin (and probably Ireland); the Temple Bar. This humungous bar offered over 140 different types of whiskey and live music every day of the week. Certainly something to visit if you’re ever in Dublin! Sad that the last night turned out to be a relatively quiet one (as
was time to go back to Rotterdam and thus to go back to reality. Being exhausted and hung-over all of us hastily grabbed some breakfast and packed our bags, as check out was at 11:00. The flight was however not for a while, granting us some last hours to spend in Dublin. Visiting Penny’s for the last time, having lunch, exploring the park or simply strolling through the familiar streets for one last time were on our schedule until it was time to leave. The way back went relatively flawless and we arrived at Schiphol around 20:00, after which we slowly but surely parted and had an amazing night of sleep. Lars van Kempen
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10 CHEF
Chef MÖLLER
Come rain and shine, our Estimator Committee is always in for
some good food at a great host. So even though the weather was terrible, we all found our way to Maxi Möller’s apartment in the
middle of Kralingen. Luckily we got a very warm welcome by our chef of the evening. Even handing out towels to the ones who were soaking wet, Maxi’s hospitality gave us high expectations for what the rest of the evening would bring us. > After entering her apartment, I have to admit I was personally kind of impressed. Not only because our fellow committee member Emrys was sitting there in a red power ranger-outfit, perfectly dressed for the occasion, but also because of the very big, neat living room and the very nice, homely atmosphere. While some of us were expecting schnitzels and bratwürsten for dinner, because of Maxi’s German background, her skills turned out to be way better than that. Providing us with a delicious 3-course meal, she impressed us and we went home with not even a tiny bit of room left in our stomachs. As a starter we got served bruschetta. Little pieces of bread,
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covered with some oil, herbs and tomatoes. The moment the last person arrived, the hungry ones amongst us could not resist it any longer and started trying this delicious-looking food. Our eye did not disappoint us and soon we were looking for more. For the main course Maxi had chosen for a very tasty recipe for chicken with a homemade cheese and herb filling. Together with some good pasta with basil, this course was very much appreciated by our committee. Good thing she had everything cooked in such big proportions. During the dinner we of course had enough time to get to know our chef a bit better. We talked about all the annoying nicknames she had got over the years,
because of her unusual name (Maxi-Taxi, Mini and so on) and about her unexpected interest for watching the Champions League. A good excuse for the fans within our committee to ask politely if the TV could be turned on, so they could watch Chelsea against Paris Saint-Germain. This was obviously no problem and she even seemed to be quite happy
interesting conversations. Maxi’s hospitality definitely got approved, some of us even stayed for another four hours after the dinner. Overall, we had a great evening with an excellent host. So, on behalf of our committee, I would like to thank Maxi for the effort and her enthusiasm. We might just have come one big step closer to ED’s next top
The last course of the evening was a typical ‘everything a woman wants’ dessert. with this question.
chef…
The last course of the evening was a typical ‘everything a woman wants’ dessert. Although, the guys were very much impressed as well. She baked us some mouth-watering chocolate muffins, with still a bit of liquid chocolate inside. Served together with some vanilla ice cream and covered with a bit of white chocolate sprinkles, this was the perfect end to a great meal.
Florine Groenen
Eventually we moved to the couch after dinner, to watch football, while having some
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BASKETBALL TOURNAMENT
Shooting some hoops had become more intense, as the ED Basketball Tournament was just around the corner. Everyone from econometrics (even the professors) competed in the nervewrecking event, which was held on Monday, 7th of April. Don’t get it wrong, although it seemed more like an event for guys, 3 teams out of 8 actually have some women too in their line-up. > Although the tournament started at 17.00, most of the participants had gathered half an hour before the game, as they were too eager to wait idly while the game would soon be on the way. The teams were divided to 2 groups with 4 teams each, playing at both of the basketball courts in the main sports hall. The sole winner of each group would get to play against each other at the finals, and the champion would of course get a fantastic prize. As the horn starts alarming, signalling the start of the game
at both ends of the hall, everyone was hyped for their team and the hall was filled with energetic cheers. For the coming 12 minutes, the ones standing at the other half of the court were nobody but people they need to show who’s the boss. Each team got to play 3 games against the other teams in their group, and could get 1 extra game for the finals, if they managed to beat the others in their group. Despite everyone’s intention to win, sportsmanship was the one thing that they all showed. They all had fun during the game, as that’s the main point of this whole
As the horn starts alarming, signalling the start of the game at both ends of the hall, everyone went hype for their own teams and the hall was filled with energetic cheers.
tournament. Some teams have well-trained basketball players, while some others got a team consisting of their friends, regardless of their skill in basketball itself. Nevertheless, they were all still able to put up a good show, as the team grouping was quite balanced. Time flew by as everybody was so into the game. It was around half past seven, and it was finally time for the finals. The Blue Balls and the Rotterdam Globetrotters, those who had proven to be the best of their respective groups, finally got to test each other. The match was quite intense, although the Blue Balls seemed to have the upper hand. The Rotterdam Globetrotters did put up a good match, although in the end the Blue Balls took the win.
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They got a reward of their hard work and dedication throughout the championship. Everyone was tired after the matches, and the long-awaited dinner took place in the Erasmus Paviljoen. Everyone got a menu of hamburger and fries, which tasted very delightful especially after doing all those sports. Rival teams back then were all now chatting and having fun together while enjoying their meal, which finally brought an end to the whole event. Hilton N. Khorazon
ECONOMETRISCH DISPUUT
12 CAREER
INHOUSE DAY BOOZ & CO
The 20th of March the ED visited Booz & Co (from now on named Strategy& ) together with study association In Duplo. Booz & Co is one of the most prestigious strategy consultants worldwide and has its Dutch office in an impressive building at the Apollolaan in Amsterdam. > The day started with a presentation about company in general and your career path at Booz. One of the interesting parts of a career at Booz is that they offer you an MBA after two to three years of employment. After this presentation it was already time for lunch. We were invited to have lunch at the rooftop of the building. This was not too bad since we had clear skies and a lot of sun. During this nice lunch we also had the opportunity to talk to representatives of Booz and to get to know more about working and applying at Booz.
After this pleasant lunch it was time for us to start working on a case. Booz had selected a very interesting case for us about the Rijksmuseum in Amsterdam. This was a pro bono case the company did a few years ago for the board of the museum. The objective of the case was to figure out what the Rijksmuseum added to the GDP of the city of Amsterdam. The thought behind this is that many tourists come to Amsterdam to visit the Rijksmuseum and therefore spend money with their visit to the museum as well as outside the museum by staying in a hotel,
visiting restaurants and other tourist attractions. To figure out what the museum exactly adds to the GDP of Amsterdam, the group was divided in smaller groups of four, each with its own supervisor. A part of the case involved a conference call between all the groups of students and the “CEO” of the Rijksmuseum. This was a really cool and new experience for most students. After a couple of hours of exchanging ideas and calculations we were asked to present our results to each other and to the people from Booz. All groups had nice presentations with fancy slides and their results came pretty close to result that Booz found themselves, which was that the museum added 3 billion euros to the
>> economy of Amsterdam in the period of 2003 – 2017 (the future years were forecasted).
This interesting day ended with a social drink. Like the lunch this drink was on the rooftop of the building. I think that everybody had a nice day and gained more insight in what it is like to work as a strategy consultant. Ewout Bosch
A part of the case involved a conference call between all the groups of students and the “CEO” of the Rijksmuseum.
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CAREER
13
INHOUSE DAY OPTIVER On a beautiful sunny day in March we took off to visit the trading company Optiver in Amsterdam. Arrived at the company, we were nicely welcomed by Renate and Marlouk, who are part of the HR department. In the room where we would spend most of the day, they led us into the world of trading and told us the ins and outs of the company. They discussed things like the culture and the different career opportunities within the company, their experiences and the application process.
> Totally unexpected we were asked to do a test, which is part of this application process. The test consisted of 80 arithmetic questions, which needed to be fixed within 8 minutes. Every applicant needs to pass this test to get a chance to work at Optiver. Although the last unexpected written exam for most of us was a few years ago, the results were quite well. Our commercial officer Max Schotsman showed he could add and subtract quite a bit and collected most points, he got 61 points out of the 80 possible! After this test, two traders introduced us to the two ways of trading at Optiver and the connection between those ways. They discussed things like what is expected of their functions, their experiences and the qualities you must posses in order to be able to do the job. After these introductions trader Alex took us to the ‘trading floor’ where it all happened. In advance, we were told that it doesn’t really matter how you act or dress as an employee at the workplace, as long as you are feeling fine and working properly. Arrived at the workplace this was certainly confirmed. One trader was buying and selling hundreds of options while bouncing on a
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skippy ball and another one walked around wearing slippers and a Lakers shirt. At Optiver everything is tolerated, as long as money is made.
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After seeing how it’s done, it was our turn to show our skills in a trading game. We got the chance to buy and sell options on values of all kind of facts, like the average length of the Dutch man and the longest bridge on earth. Just like at the trading floor, markets were made for all the products and many options were traded. Starting with 40 points, some of use managed to collect more than 100 points. Unfortunately it was not everyone’s lucky day, because a couple of our traders ended bellow the limit of zero points and were declared bankrupt. Eventually it was Sjoerd Baardman that gathered the most points and walked away with the price, an Optiver goodie bag. While enjoying a pizza slice and a drink, the day ended with the possibility to have a chat with employees of the company. Thanks to the people of Optiver we all had a fun and above all a very informative day. Remy Broekmans
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14 SOCIAL
UNKNOWN ROTTERDAM
This time in ‘Unknown Rotterdam’ we have chosen to introduce you to two true Rotterdam stores, which you cannot miss out on as a ‘Rotterdammert’ . Last we will update you about a free event from the 15th to the 18th of May to keep you off the streets for four days max.
> Groos The store Groos opened its doors only a year, but has already been considered a true must-see in Rotterdam by several media. The name Groos is an old-fashioned synonym for proud. It is a real Rotterdam department store proud of the city in which it is located. They sell fashion and design products, literature, films, delicacies and lifestyle products all designed and produced in Rotterdam. Their goal is to collect all products of which Rotterdam can be ‘Groos’ of in one store and promote them to an large group of people. Definitely worth a visit when you are nearby. Where? Schiekade 203 When? From Wednesday to Sunday (10:30-19:00)
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Designshop Even for an econometrician the odds of having someone making statue of you are very small. However, at the design shop & in the ‘Oude Noorden’ they will make you one in just a couple of minutes by using their 3D scanner. You can bring nearly any kind of object from 20 cm up to 3 metres to be captured by the scanner and then be copied on a smaller scale by their 3D printer. Next to that & sells many unique items you could use to brighten your dull students’ room.
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Where? Zwaanshals 520 When? From Tuesday to Saturday (10:30-17:30)
Shell Eco-marathon The Shell Eco-marathon is a yearly international race under students about innovation, technique and sustainability. Students from all over the world are challenged to design and produce a car that will drive as far as possible on one litre of benzine. They will demonstrate their car next month at Ahoy. And as we love it the event is entirely free, you only have to registrate on beforehand to get in.
Where? Ahoy Rotterdam When? From the 15th to the 18th of May Ruud Moers
ECONOMETRISCH DISPUUT
THE PUZZLE
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After two Estimators without any... This time we even have two puzzles for you to solve. Like always you can send your solutions to the next address: estimator@ectrie.nl. If you have come up with the right solution for both puzzles you will win a marvellous price. Your solutions should include a little explanation of how you found the answers. If there are more than one correct contribution, we will allot the price under those contributors. We will publish our winner on Facebook!
Puzzle 1 > Two ferries start at the same moment on opposite side of the river. One is faster than the other. They cross at a point 720 metres from the left shore on their respective destinations, where each one spends 10 minutes to change passengers before the return trip. They first meet again at a point 400 metres from the right shore. How wide is the river? Assume the ferries both had changed passenger when they crossed for the second time.
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Puzzle 2 > Joris has got six coins. On the heads side of each coin is the number 1. On the tails sides of the coins are the fractions 1/2, 1/3, 1/4 , 1/5, 1/6 and 1/7 respectively. Since every coin has got either its heads side or its tails side facing up, there are 64 ways to put the five coins on the table. Joris multiplies the five numbers facing up for each of these 64 situations and writes down all results. If Joris adds up these 64 numbers, what will be the final result? (Writing out all possible outcomes and add them up is not allowed, find an efficient way to do it)
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ECONOMETRISCH DISPUUT
16 PHOTOPAGE
FAECTOR PARTY
On the 6th of March the FAECTOR Party took place. This party was held to celebrate the new name of our study association. From 1 September 2014 onwards the Econometrisch Dispuut will continue as FAECTOR (Faculty Association Econometrics & Operations Research). Around 250 members & other boards of other associations came to café Divoza to create an awesome party. As I speak for myself and the board, I think that this was totally accomplished. Lots of Prosecco, beer & wine was drunk and Divoza was
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crowded till 4 in the morning. During the night good-looking girls from ‘Het Fotomeisje’ came by to make Polaroid photos from all the partying people. We hope that everyone took at least 1 Polaroid picture home and that this will be a great memory to the FAECTOR Party. To get an expression of the overwhelming atmosphere at the party, take a look at the photos on these pages!
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PHOTOPAGE
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Look at all these beautiful people!
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ECONOMETRISCH DISPUUT
18 ASSOCIATION
ACTIVE MEMBERS WEEKE
When you think of the ultimate reward for the hard-working heroes that are the active members of the Econometrisch Dispuut, the first thing you think of is certainly a ‘relaxing’ weekend away in Lievelde, Gelderland. Fortunately for us, that was exactly what the activities committee had planned. So it is with a tribute to Eric, Gijs, Madalina Moraru, Suus, Jesper and Bas, the members of the AC (activities committee) and coordinators of this weekend that I write this article.
> The morning after one of the seasonal ED social drinks is never usually when you’ll find an econometrician at their most productive, however, it was different this time as the devoted active member congregated at Rotterdam Centraal with a wry smile on each of their faces which masked the previous night’s shenanigans Unfortunately, we all had a torrid journey due to another one of the NS’s infamous disruptions which took us on a large detour to finally get to our destination in East Holland, close to the German border. Personally, I did enjoy seeing what some other areas of the country had to offer in terms on natural beauty; it’s sometimes nice to get out of the city. Out of the city was certainly
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where we ended up as a nice sunny evening drew to a close and the last of us arrived at the hostel to be welcomed by our fellow members, a couple of beers and bites to eat. Our first dinner of the weekend matched the mood of the group perfectly and we gobbled up servings of chips with kroketten and frikandellen followed by a few kind words from our dear president. The activities committee had prepared an exciting competition for us which required us to divide into teams of 4 (there were 32 people in total) after which we would challenge in various activities of our own choice in order to win points. Activities ranged from a game of FIFA to who could best
>> walk in a straight line after finishing a couple of beers (yes Joris, you were rubbish at this). The team at the end of the weekend with the most points would be crowned ED Active Members Weekend champions.
The first night was full off fiesta as everyone completely forgot about the repercussions of the previous night. The main attraction was the beer pong tournament which brought shrieks of excitement and great groans of agony as an econometricians test of the physics was measured in arguably the best possible way. As the competition filtered out, the challenges commenced and some serious points were won and lost as we were well and truly integrating into the festivities the weekend had to offer. Before the break of dawn, the last of the partiers were finally in bed asleep as we drew to a close an eventful first day.
Looking back, I think one of the elements that made this weekend so great was the fantastic weather we experienced. Every day we were able to laze outside in the sun and enjoy our relaxing weekend away. This is exactly how the first morning started. We were able to enjoy our breakfast in the radiating morning sun which glistened down on us from the clear blue skies above. Come midday, a couple of us decided to make the most of the fine weather and the surrounding area to take a walk and do a little bit of exploring. The area of Gelderland we were in was much different to the bustling busy streets on a Saturday at Blaak would bring but in contrast provided us with a more open, peaceful scene. A half hour walk to the nearest town centre brought us to a small, reserved town centre which was also busy with its Saturday market. The quiet, older
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END
streets made a few of us reminisce over our previous lives before we moved to the busy, working city that is Rotterdam and draw comparisons to our new lives as full-flowing econometricians, not exactly the most peaceful life. Another difference out there in the east was that, unlike Rotterdam, not many people were acquainted with the English language. Being so close to the German border, the second most spoken language was German.
with a delicious dish of pasta with bacon cubes and a rich sauce, it was time for another night of fun. The second night’s activities weren’t organised as strictly as the previous but certainly didn’t lack in the entertainment department as, come the early hours of the morning, spontaneous karaoke renditions had commenced and the tables were now being used as platforms to see who would be representing the ED in the next version of The Voice of Holland.
to be another evening of celebration. The night’s dinner was a perfectly prepared cours of nasi with delicate cubes of ham sprinkled through. The silence that surrounded when people ate pays its own respect to the delightfulness of the dinner as the active members lounged around, some watching TV, some taking the time out to lay down and others.... washing up. The evening quickly rolled into night as the drinks started flowing. There were, unfortunately, some
Activities ranged from a game of FIFA to who could best walk in a straight line.
As the afternoon drew to a close, a couple of the lads made the most out of the football field that we had to ourselves for a bit of a kick about. Dare I say, after a long 24 hours, I didn’t exactly have my shooting boots on but, after observing everyone’s game, I have confidence that the next Messi or Ronaldo may well be a current active member of the ED! After a couple of people power napped and we were refuelled
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Come Sunday morning, the troopers were beginning to feel the effect of the last few days. Fortunately, the sun had once again prevailed on what turned out to be a lazy day where the peace was only broken by cries of anguish and screams of delight from the various board games which were being played around the site. A short morning was followed by a short afternoon as the sun quickly set on what was
notable absentees such as the big man himself, one Joris Blokland but the rest of us stepped up to cover for him. As Monday morning came and the last of us had finally gone to bed as others were waking up, reality kicked in as we would soon have to return to the our normal weekly lives and leave behind the festive fantasy of the weekend that come and done itself justice. The reality was
>> made worse by the humongous cleaning job that face the remaining members that had stayed behind. As zombie like soldiers, we cleaned in our laboured fashion. Laboured, yet, as econometricians, effectively we soon had the place looking spotless and were ready to head home to Rotterdam. As if the sun knew it was time to say goodbye, it had finally taken a well earned rest as we took the train west.
The best thing about such a weekend is the memories it creates and the friendships that are forged. And so it is, with great fondness that I look back at this weekend and on the great memories and friendships I have made as a result. The very first active members weekend proved to be a success, credit to the Activities Committee as the active members of the ED are now a stronger, better coordinated bunch of talents. Emrys Komen
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20 CAREER
ORIENTATION DAY LOGISTICS
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On the 27th of March the Orientation Day Marketing took place. This is a day where a company, active in the field of Marketing, visits the university to tell about their work and meet students. A perfect opportunity for students to learn about this company and more about the Marketing master! > The day started with a presentation provided by enthusiastic employees from Pointlogic. They started with explaining the students what kind of company they are and what they mostly do for other companies. Their mission is to help other companies to optimize the return on marketing budgets. Pointlogic provides solutions that will empower the company to make the best decisions in a collaborative environment, taking into account various stakeholders and the dynamic if client/ agency relationships. Pointlogic builds tools to give the people insights in their own company about how they can get the most out of their money. This can’t be done without the use of big data, usually obtained from surveys. The employees of Pointlogic answered a lot of questions from the students and they told everything about the working environment at Pointlogic. For instance, they are all working in teams, but you can be working in multiple teams. This means you are working at
more projects at the same time, which makes the work quite varied! After everybody had asked their questions, they moved on to the case. The students got a lot of data from a network provider and were asked to find out what the most important qualities are for a provider to have a large market share. To do this, they had to create a model and select what variables they wanted to use in their model. The case ended with the presentation of each group about in what the provider needs to invest money. After this interesting and fun presentation and case from Pointlogic, Professor Fok came by to give information about the major/master direction for Quantitative Marketing, which will be renamed to Business Analytics and Quantitative Marketing. This nice and informative day ended with a social drink in the C-hal, where everyone got the chance to have a chat with Pointlogic! Vicky Vercauteren
Their mission is to help other companies to optimize the return on marketing
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ORIENTATION DAY MARKETING
CAREER
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On the 21st of March the Orientation Day Logistics together with Hypercube took place. Hypercube, a company active in the field of Logistics, came to our university in Rotterdam to tell about their business and meet the students from the Econometrisch Dispuut. Both Hypercube and the students had high expectations of the day, which were perfectly accomplished!
> The afternoon started with a presentation of the company Hypercube. Hypercube is an independent consulting firm for the private and public sector. They explained what kind of issues in the public transport section they are working on, but also what they do as a fixed knowledge partner of the KNVB Expertise! For example they do
research to the wheither build a new footballstadium or upgrade the current stadium. After this interesting presentation the company explained what the students were asked to do in the case they were about to make. The participating students were given the task to determine the optimal size of a soccer
For example they do research to wheither build a new footballstadium or upgrade the current stadium.
stadium. This had to be done with the use of the data which was provided in an Excel file. The goal was to determine the capacity of the stadium for which the club performs as good as possible, but without making a loss. Everyone was working enthusically on the case, but it turned out to be more difficult than expected! The moment everyone had made an attempt to solve the problem, they had to present their results. This was done as if the presentation was held for the board of the soccer club. Eventually Hypercube showed
how they had made a model for this problem and what they had to keep in mind while doing this. When the informative afternoon provided by Hypercube was over, Professor Dekker came by to give information about the major/ master direction for Operations Research and Quantitative Logistics. To finish the day in a sociable way, there was a drink in the C-hal! Vicky Vercauteren
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22 ADVENTURES
ADVENTURES OF THE TH 48 BOARD
The academic year is not over, yet it is already time for us as the board to search for successors. This is the time when we are holding interviews and try to form a new, very motivated, enthusiastic and capable board who will organize all ED-activities next year. The activies vary from the famous drinks, parties, tournaments to career events and much more! Moreover, they will become the first FAECTOR board! > FAECTOR, Faculty Association Econometrics & Operations Research, the new name of our association was announced with a grand party that took place at Divoza at the 6th of March. The first 100 attendees were welcomed with a glass of Prosecco. Lots of members didn’t want to miss this party so it was really busy. Divoza made
room for a second bar, so luckily getting a beer didn’t take too much time. Furthermore, the FAECTOR coasters and glow glasses colored Divoza green and the cool Polaroid girls did their best to get everyone a picture with their best smile. We enjoyed the party very much and we hope you did as well. Also, a FAECTOR drink was organised at the
Divoza made room for a second bar, so luckily getting a beer didn’t took too much time. Furthermore, the FAECTOR beer mats and glow glasses colored Divoza green and the cool Polaroid girls did their best to put everyone on the picture with their best smile.
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>> university where we invited the professors and PhD students to celebrate the new name with a drink and a lot of nice and green FAECTOR cakes. Due to a mistake of the cake company, we received two times as much cakes delivered than we had ordered. So we and a lot of ED-members enjoyed the delicious cakes the whole week.
their eggs. Also Jesper protected his territory with his life. In the beginning of the evening he thought that it was a good idea to tie his hand to our green pole. Though, later on he saw the danger of breaking his wrist and the trouble with going to the toilet, so he let someone remove the tape. We received a lot of beautiful presents and we would
On Thursday the 3rd of April our Dies took place. On that day we celebrated the fact that our beautiful association has already turned 48! The evening started at Divoza where we, the board, the mace-bearer Jesper Silvius and our guestbook carrier Ricardo de Boer, enjoyed a nice three-course dinner. Thereafter the drink started and active members and boards of other associations arrived. During the evening there was an attempt to steal the guest book, but Ricardo watched over it, together with his co-protector Eric Slob, like two hawks over
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like to thank everyone who was present at our 48th birthday! A very nice thing as a board member is the presence of a refrigerator and all the snacks in the closet in the ED-room. An even nicer thing is getting all the drinks and snacks for the ED-room. Approximately one time per two or three months someone of the board has the chance to go shopping with our treasurer, Jan-Willem. Fortunately the men in our board do not want to lift all the heavy cans cassis, coca cola vanilla
etcetera so most of the times I can go with him and I am always really looking forward to it. The last few times we went to the Sligro and walked along all the large shelves with candy and chocolate and the great thing is that you can taste everything! Jan-Willem and I therefore walked ten rounds around the same candy boxes and chocked up our pockets, after which we went to the cake section where we tasted delicious apple pie and more. However, there is one less nice thing about the whole event; once we arrive at the Erasmus University, we have to carry all the stuff upstairs to the 10th floor. But I ensure you that it is certainly worth it. A last few facts about the board: We have purchased a brand new and high quality camera, so that we can make even more beautiful pictures of you all at the ED events. In the beginning of March, our president was a few days absent because of the phenomenal thing called ‘carnaval’, the party week of our southern people of the Netherlands. No time to rest for him, as he had to continue his
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vibe during the FAECTOR party and the active members weekend. I had trouble falling asleep, because of his gorgeous and, most of all, loud songs in the middle of the night. Moreover almost every board member is getting into a relationship during our boardyear, while it should actually be a very wild year. Luckily, we still have Jan-Willem who maintains our high honor. Last but not least, we have a new pet. It is a gull and his name is Steven Seagull. Every day he flies to our window and says hello by ticking against the window. This hungry bird is of course a good reason to drop by at H10-05! Finally, keep an eye on the ED-agenda, because we have once more a lot of nice activities
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for you in the last period of the year! Kim Wittekoek
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Moreover almost every board member is getting into a relationship during our boardyear, while it should actually be a very wild year. Luckily, we still have Jan-Willem who maintains our high honor.
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24 SOCIAL
INTERFACULTY GALA
>> The first day of the second week of February – yes indeed, the 14th – is no day like all the other days throughout the year. In fact, the 14th of February is known as Valentine’s Day all over the globe and is celebrated by many. Some cuddle up with their loved ones, others enjoy the cheap chocolate sold by numerous supermarkets around this period in time and yet others look for adventure with friends and soon to be friends (and more!). For the latter, the Econometrisch Dispuut has taken part in the organization of a prom together with four other associations.
> As an interesting addition to the well-known concept of prom nights, the dress code was “black-tie”. In honoring this, most of the already handsome men transformed into various
James Bond lookalikes, sharply dressed and ready for some games of blackjack and roulette. Now of course, gambling isn’t Bond’s main interest, so what’s missing here? Indeed: women!
A live saxophone player took the stage accompanied by the night’s dj!
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Many beautiful ladies wearing elegant dresses accompanied their James to the gala, just as ready to take their place at the gambling tables. The event was hosted at the prestigious Staal at central Beurs in Rotterdam. Before reaching the main room, the attendees were escorted to an elevator, bringing them to the first floor of
the venue. This is where the action would take place. After stepping out of the elevator, guests were kindly requested to leave their coats in the wardrobes. Everyone still looked sharp and so this was the best time for a photo to be taken of the Bonds and company. Many charming photos were captured by a professional photograph. Later many less charming photos were
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SOCIAL also captured, confirming the necessity of at least one decent photo to remember just how fresh everyone was looking upon entry. After the photo, guests slowly but surely trickled into the main room which was equipped with all a good party could need. A grand bar was installed a couple of meters away from the door, from which many drinks would flow that night, as drinks were included in the price of a ticket. What better guarantee for a good party do you need? Furthermore, a main stage was installed at the
right hand of the room with several tables placed tactically in front of it. This allowed for a friendly atmosphere, as participants grouped up around these tables to socialize, waiting for the evening to commence. Thirdly, at the back of the big room a blackjack and roulette table was installed. Keen to see what’s happening, a large crowd immediately gathered around the tables.
saxophone player took the stage accompanied by the night’s dj and soon the tables in front of the stage were moved aside to make room for a spacious dance floor. As it turned out, many of the Casanovas were not scared of a dance and neither were the gorgeous women. Dancing soon started and many of the participants started their Valentine’s Day exceptionally well.
As the room filled with about 300 excited party animals, drinks started flowing and the atmosphere started to excel. A live
The gambling area was at no point however, deserted. Just as the on the dance floor, much fun was had at the waging tables.
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Roulette turned out to be a very popular game, with various parties getting extremely lucky, making 36 euros out of 1 in a single go. Blackjack at the same time was actively played, yet turned out to be less lucrative as many of the eager gamblers who had probably pictured to earn a free McDonalds for the night slowly left for the bar, as drinks were free anyway. The bar showed to be a great way to overcome their earlier disappointment, as banter and flanter was constantly at high intensity! Lars van Kempen
>> VOLUME 16 ISSUE 3 // ESTIMATOR
ECONOMETRISCH DISPUUT
26 ALUMNUS TALKS ALUMNUS TALKS: REMCO MOL
>> He finished his high school when he was only 16. By the time he had a bachelor in mathematics and computer science in his pocket this man was only 18. At the age of 23, he also has an additional bachelor in Econometrics, a Master in Quantitative Finance, a master Mathematical Sciences and a board year on his CV. Quite an interesting guy, this Remco Mol.
> Being the former president of Econometrisch Dispuut Remco did not hesitate long when our Estimator committee asked him for this interview. Of course, that was going to be fun. Also, planning a meeting was not a problem: ‘I’m actually doing nothing at the moment’, he said, while laughing. After graduating his Master and a sometimes stressful period of job interviews, he is now just enjoying life and planning his roundtrip through China. A perfect opportunity for us to ask him all our burning questions.
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Mathematics and Computer Science Before Remco started studying Econometrics at the Erasmus University, he spent two years in Utrecht, where he studied Mathematics and Computer Science. His year of the study only consisted of 7 very competitive boys, who constantly challenged each other and had a lot of fun together. This also explains why it only took him two years to graduate. When one of his fellow students told him he wouldn’t be able to do his bachelor in two years, he bet the opposite. Two years later he was
only a couple of euros richer, but especially the honor was big. The next step: Econometrics When he started Econometrics, he realized quickly that this was a lot more fun than his previous study. Therefore, Econometrics slowly became his main interest and he started focusing more on this field. In his second year he joined a committee at the ED, and in his 3rd year he became the proud president of the 46th board of the Econometrisch Dispuut. Remco described it as an awesome year, a big challenge, but also quite exciting. A board year at the ED He enthusiastically starts
explaining us about the two big challenges they had, which made this year so exciting. First of all, there was the problem with the study project. By that time, this was not part of the minor, but part of a tutorial. So when this got switched, the board turned out to not only have to organize a study trip and internships for the 4th block, but also for the 1st block in the year after. This involved a very high workload, but fortunately they managed to divide tasks properly within the board. Secondly, there was the internationalization. The 46th board was operating one year before the International Bachelor of Econometrics would start. This
At the age of 23, he also has an additional bachelor in Econometrics, a Master in Quantitative Finance, a master Mathematical Sciences and a board year on his CV.
ECONOMETRISCH DISPUUT
ALUMNUS TALKS Only getting high grades to get in? Forget about it. First start doing what you really like, then you will eventually find out what you truly want. new study of course required a lot of changes within the study association, since they had to make decisions on what to change to English and which additional committees there would be. So this board was for instance the one, who came up with PENGUIN, which is the English version of the PINKWIN weekend. But if you would ask to remember what the letters stand for, you might not get a very clear answer… (Something with nerds). Do you think your board year helped you getting a job? According to Remco, it did help him to get the job he got right now. For a lot of companies this really is a big pro on your resume. But the most important thing is that you learn to
>> VOLUME 16 ISSUE 3 // ESTIMATOR
collaborate, to work in groups and to organize. You do not often have to deal with these kinds of responsibilities during your university life, but via a board year you can obtain the necessary skills for this, which will be valuable later on. Remco has always seen his choice to do a board year as a great decision, but he also recommends students to consider yourself if it is something for you. ‘Jongens, dit gaat ‘m echt worden hè.’ What the most awesome experience during his board year was (which can also be told in the Estimator ;)), was a difficult question. After a bit of thinking, Remco explains about ‘het wissel-weekend’. The weekend
before they got installed as a board, the new board, joins the old board at Center Parks for a weekend. He remembered one specific moment during this weekend, when they were sitting on the couch with the complete new board and one of them said: ‘Jongens, dit gaat ‘m echt worden hè’. It was a moment where they realized the year was really going to start and that they all felt very positive about it. It was just going to be awesome! Starting at BCG After this summer Remco will start working at BCG (the Boston Consulting Group) as an Associate. He seems to be very happy with this job and his new employer. Which makes sense, as BCG is consistently ranked one of the best employers in the world (according to FORTUNE magazine). Since he has not started working there yet, he can of course only talk about his expectations, but these are definitely high. According to what
27
he heard, the company is seen as a very social consultant. His main goals for the upcoming years? Proving himself and earning a promotion to full consultant. He looks forward to all opportunities and traveling as much as he can. Do you have any advice on how to get your dream job? The wisest advice comes first: you have to find out what your true dream job actually is. As long as you don’t know, you just have to do you what you like. Don’t listen to other people telling you what you have to do to be successful. Only getting high grades to get in? Forget about it. First start doing what you really like, then you will eventually find out what you truly want. But most important, you should take all chances you get. In the mean time you can find out what you want, and as soon as you know, prepare yourself as well as you can. Florine Groenen & Joris Blokland
From left to right: Sabine den Daas, Josephine Boerman, Rik de Wilde, Remco Mol, Yan Kit Lee and Lisanne van Nes
ECONOMETRISCH DISPUUT
28 AGENDA
AGENDA
2 May 2014:
Inhouse Day SAS
6 May 2014:
Inhouse Day Zanders
7 May 2014:
Blacklight Party
8 May 2014: Excelsiorcup 22 May 2014:
Football Tournament
27 May 2014:
Alumnus Vertelt
28 May 2014:
Third Years Day
4 June 2014:
Beerpong Tournament
24 June 2014: End-Party
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RECNET DRINK
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>> On Friday the 21st of March the RECNET drink took place in cafe Divoza. For the one who does not know RECNET; RECNET is the association for EUR Econometrics alumni. After your graduation you can become a member of RECNET. > When you are graduated, you will spread your wings and you and your friends will probably go your separate ways. Some people will stay in Rotterdam, but the most will probably work in another city, maybe even in a different country. The danger is then to lose sight of each other. RECNET organizes in cooperation with the Econometrisch Dispuut, several activities like drinks and company visits
throughout the year. In this way you can stay in contact with your former student mates. It is great to drink a beer in the pub with your fellows like in old times and to bring back the memories of your period as a student Econometrics & Operations Research at the Erasmus University Rotterdam.
dees just came from their work and started with a cup coffee. But when more RECNET members came in, the coffee was replaced for some alcoholic drinks soon. The great thing of the ED-drinks is that beer is only 50 cents. However on the RECNET drinks you can get your beer for free! Moreover, during the evening some delicious snacks were served. The nice thing of these drinks is that there are so many different people, they do different work, live in different cities, are from various age. However they have
one thing certainly in common, they all studied Econometrics at the Erasmus University. It is great to have a talk with these people, to hear their experiences and how they get where they are now. It was a very nice evening and we would like to thank all the RECNET members who were present. Keep an eye on the posts at the Linkedin group and see you at the next RECNET activity! Kim Wittekoek
The drink on Friday started at 19:00. Some of the first atten-
The nice thing of these drinks is that there are so many different people, they do different work, live in different cities, are from various age. However they have one thing certainly in common, they all studied Econometrics at the Erasmus University.
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30 STUDYSECTION
EDUCATIONBOARD > Dear students, As we are approaching the end of the current academic year, summer holidays are coming! For some of you the holidays will start directly after the last exam week, but some of you have to keep going until the end of the resits. Anyhow, on behalf of the Education Management I wish you all best of luck finalising this academic year! In this issue I would like to discuss some changes, starting with the name of our very study association ED: Faculty Association of Econometrics and Operations Research, or FAECTOR. Since we have two fairly new international econometrics studies, it is time for the study association to identify itself as an international one as well. The Education Management congratulates FAECTOR with its new name, and wishes all the best for the coming future. During the last months the Econometric Department has announced some structural changes for the Econometrics curriculum, effective next academic year. The accounting course of B2 will expire; the Markov Processes course will shift from B3 to B2; the Advanced Programming course will be part of the major Quantitative Logistics only and lastly, for those going on exchange, the Game Theory course will no longer be mandatory. As you can imagine these are quite some changes, and therefore you may need to revise your study planning, would it be affected in any way. Would you have any questions regarding these changes, please don’t hesitate to come by the Information Desk at H6-02. Unfortunately, this short column will be my last one, as my employment as First Ambassador lasts until May 1st. My successor will take over as from that moment, and will introduce himself/herself in the next issue of Estimator. The position will stay the same and the new First Ambassador will stay located at H6-25, so you can always drop by the office with any questions regarding Education Management. Again, best of luck finalising this year, and happy holidays after! Best regards, Philo Meerman Member of the Education Management L: H6-25 T: 010 – 408 29 78 E: meerman@ese.eur.nl P.S. emails after May 1st regarding Education Management are forwarded to the new First Ambassador.
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STUDYSECTION
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EDUCATIONCOMMITTEE >Dear fellow students, From the next academic year onwards, there are some big changes in the study schedule compared to the current schedule. The reason for the changes is mainly to allow students to go on an exchange abroad without study delay. The structure of these changes had been communicated via the Newsletter, and we refer to the ESE website: http://www.eur.nl/ese/onderwijs/nieuwsbrief_studenten/detail/article/60384-veranderingen-studieschema-econometrie/ We advise you to visit a study advisor if you still have questions regarding your personal study schedule. VACANCY FOR DUTCH FIRST YEAR STUDENT For the next academic year we are looking for a new student member of the education committee as John will graduate this year. As a member of the education committee you represent the students when the education committee is asked for advice by the management or when problems occur. There is a meeting every block and you will evaluate the first year courses throughout the year together with the teachers and some first year students. Most important though, is that you keep your eyes and ears open to give a representable opinion and point out where improvements of the Econometrics programs are possible. We are looking for a first year student enrolled in the Dutch bachelor. A requirement is that by May 2014 we can assume that you will receive a positive BSA and continue studying Econometrics after the summer. Therefore, you need to have passed 8 courses within the first four blocks and send us your grading list upon application. You can apply by sending an email to oceconometrie@gmail.com with your motivation letter, resume and grading list. The deadline is Wednesday May 21st 23:59. We wish you all the best for the last block. If you have any questions, problems and/or suggestions, please do not hesitate to contact us. John Brouwer Mechteld Ferment Jan Radermacher Tobias Polak Student members of the Education Committee Econometrics & Operational Research Dr. C. Heij Dr. W. van den Heuvel Dr. R. Spliet Dr. M. van der Wel Staff members of the Education Committee Econometrics & Operational Research Contact: oceconometrie@gmail.com
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32 STUDYSECTION
WE CONGRATULATE ALL GRADUATES 06-FEB-14
20-FEB-14
06-MRT-14
20-MRT-14
HARWICK SCHOB
WILLEM NOORT, OP TEN
WILLEM DEIJL, VAN DER
VIRADJ OEDJAGHIR
The influence our friends have on our
Predictability in option prices.
The stringent, the liberal, and the
Portfolio construction using a
music taste: An empirical analysis
Due to limited investor attention to
robust: Can specification search
present-value model
TERVONEN, T.P.
customer-supplier links
algorithms help us solve the cross-
DIRIS, B.
JASKOWSKI, M.
country growth puzzle?
19-FEB-14
BASTURK, N.
26-MRT-14
20-FEB-14 JEAN-PAUL SCHMITZ
06-MRT-14
BONNIE MAN
A comparative study of the fill rate
L.H. BRINKMAN
and the efficiency of domestic road
Model-guided Nonparametric Me-
A. H. YAQOUBI
simple regression models
freight-based logistic service provi-
thods for Option Valuation
Predicting the stock return distribu-
KONING, A.
ders
JASKOWSKI, M.
tion using quantile regressions
HEUVEL, W. VAN DEN
Analyzing tail dependencies using
DIRIS, B.
03-APR-14
20-FEB-14 19-FEB-14
06-MRT-14 LODEWIJK LINDEN, VAN DER
ERIK HESSING Examining oil price dynamics using
RENE EDELENBOSCH
Forecasting the Term Structure of
JELMER MEIJER
heterogeneous expectations
The Effect Of Visualization Of Choice
Taiwanese Government Bonds
Multi Modal Transportation
DIJK, D.J.C. VAN
Options On Actual Choice
PICK, A.
Planning for Tata Steel Europe
GOOS, P.
DEKKER, R.
06-MRT-14 19-FEB-14
06-MRT-14 OLIVIER VIJFWINKEL
NIELS HENDRIKSE
LIBOR market models in a volatile
IOANNIS GIANNAKAKIS
Reducing waiting times of Quay Cra-
market
Supply Chain Costing
nes for Automated Guided Vehicles
WEL, M. VAN DER
DEKKER, R.
06-MRT-14
17-MRT-14
on the automated ECT Euromax container terminal DEKKER, R.
19-FEB-14 DAAN ALEM, VAN
DANIËL LAI
SVETLANA TOKUNOVA
LDI portfolio: minimum volatility of
A Comparative Study on the Effects of
basis risk
Corruption on FDI
BOUWMAN, K.E.
BASTURK, N.
06-MRT-14
20-MRT-14
Spot and forward gas price dynamics in the gas hub market of Western Europe. Intermarket and intertemporal
BAS LIPS
THEUN VLIET, VAN
relationships and the role of pipeline
Influence of dependence structure on
Using correspondence analysis to
capacity
Portfolio Allocation
map the portrayal of Dutch political
BASTURK, N.
KOLE, H.J.W.G.
parties in newspaper VELDEN, M. VAN DER
VOLUME 16 ISSUE 3 // ESTIMATOR
ECONOMETRISCH DISPUUT
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QFT
Quantitative Finance Tour
DO YOU WANT TO BECOME AN INVESTMENT BANKER?
WHAT?
The Quantitative Finance Tour brings students with a quantitative background in touch with top tier investment banks
WHEN?
From 28 Sep until 4 Oct the tour will visit London
FOR WHO? For all Dutch speaking quantitative students, who are in their (pen)ultimate year HOW?
You can find more info and apply at www.qft.nl
GOAL
Get to know the financial world and earn yourself an internship or job in ‘the City’
Apply before 1 June at www.qft.nl