An introduction to the Tinbergen Institute

Ranging from an established name to a vague concept, knowledge of the Tinbergen Institute (TI) takes on varying levels between Econometrics students. Given its importance to the academicenvironment of the Netherlands, I would love to shed some light on the institute: what is TI, why would you want to study there, and what is it like? My focus will be on the experience of both of me and my fellow students, and to go beyond what the website states (though if you want the standard talk on why the Tinbergen Institute is great, feel more than free to visit it).

Let’s start with addressing what the Tinbergen Institute is: the Vrije Universiteit, Universiteit van Amsterdam, and Erasmus University Rotterdam have a joint research institute situated in Amsterdam Zuid which offers a two-year graduate program in Econometrics, Economics, and Finance as a prelude to a PhD journey. In practical terms, the graduate program prepares you for a next step in the academic world. It is rather difficult to enter the PhD program if you did not graduate from the Tinbergen Institute; the TI diploma ensures (in all practicality) funding for your research.

There inevitably comes a time when you are confronted with the horrifying realization that your time as a student will, at some point, come to an end, and that there suddenly is no program coordinator providing you with a comprehensive list of possible courses to do. For me, this moment occurred during the start of my Master in Econometrics at the VU. From my interactions with the business world, I quickly noticed I was simply not (yet) cut out for such work. To slight dismay of my parents, I told them my desire to continue studying: the logical next step was to enroll in a PhD program, and I consulted a few professors to explore the possibilities. This is when I was first introduced to the Tinbergen Institute, and I quickly entertained the possibility of enrolling. Now I do not want to give you a list of tips, tricks, do’s, and don’ts of the enrollment process, but I want to stress one single thing: provide good letters of recommendation! Many teachers and professors at the Vrije Universiteit are research fellows at the TI and showing the institute that their recommendation of you really comes a long way.

However, much more important than details on the enrollment process is the actual life and culture at the institute. My cohort contains 23 students of varying backgrounds, both academically and culturally. It’s very international with more than half of the students not being Dutch, creating a great diverse environment. We all quickly bonded during the introduction weekend, a time where we realized that this was indeed the group with which we would be tackling the upcoming two years together. Once the courses began, this feeling only intensified. Especially during the first period you simply have to spend a lot of time together with your fellow students (something I will touch upon later), which means that you very quickly bond over dinner or a well-deserved drink after a day of studying.

Now of course I cannot vouch for the social abilities of future cohorts, but I was extremely positively surprised by the initiative of many students to simply have some fun and relax outside of TI. Many a time students have gone out for dinner together, went to the movies, and did any other activity you’d happily do with your close friends. Adding to this are the activities organized by the institute’s Student Council: in my five years at the VU I never played laser tag in the university building, at TI this happened within my first two months. Not to sound too much like an ambassador for the program (for legal reasons: I do NOT represent it), but we also have monthly drinks and movie nights in an attempt to lower the substantial stress levels present in the program.

These stress levels are important to be addressed: the program is difficult. TI expects you to board an academic train moving at 200 km/h with a merciless pace and workload from the very start of the program. TI employs the classic tradition of pushing the limit of what one ECTS can represent by starting with three courses, each worth four ECTS, all substantially more intense than any course I have ever had during my years at the VU (and yes, that includes Time Series Analysis). This first period does allow for two choices, slightly tailoring the courses to your background. First, one can choose between Fundamental or Advanced Mathematics: I believe this does not need much explanation. Second, either Statistics or Asymptotic Statistics can be selected. However, it is important to note that if you have the ambition to go for an Econometrics PhD (which increasingly likely if you made it this far in the article) you are expected to go for Advanced Mathematics and Asymptotic Statistics, the two ‘more difficult’ options. Whatever you choose, the assignments are relentless, starting quickly and requiring truly significant chunks of your time, resulting in you spending a substantial number of hours at the TI. The lectures are rather dense, requiring you to read up on additional topics in your own time as well. All this adds up to the intense workload I was alluding to earlier. Any Econometrics student from the VU wanting to study at the Tinbergen Institute: please be prepared to spend much more time in the TI building than you’ve ever done in the ever-beautiful HG-building.

TI also recommends you to not have a part-time job next to studying, for which it offers additional scholarships to accommodate for this lack of income. However, I do believe it is manageable to still work next to the study program: apart from the fact that it’s always to nice (and often essential) to earn the additional money, it is also beneficial to get outside of the TI-sphere every now and then.

Next, the exams: the first period in my cohort was an absolute bloodbath. A group of students who overwhelmingly never entertained the possibility of failing a course suddenly found themselves passing one or two courses out of three. Stating morale was low can really only be seen as an understatement of the situation. The second period was significantly better, with many people starting to properly manage the workload and balance this with their social life.

This change truly could not have been possible if the courses were not as interesting as they are with a solid selection of professors and teachers to support you. Though the material is both high in volume and difficulty, a love for econometrics will definitely help you through the courses: Asymptotic Statistics was an interesting dive into asymptotics that went far beyond anything I have every done at the VU, and Advanced Mathematics made me familiar with many concepts that you hear about once or twice but often are ‘just assumed to hold’. So far, I have only had one course in Advanced Econometrics, but believe me when I say that it is the most fascinating course in Econometrics I have experienced in my 5.5 years of studying. Charles Bos and Nick Koning provide a wonderful mix of topics and showcase how fun a course can be when you combine great teachers with a good organizational structure.

I really believe this juxtaposition of the joy from the course material and the stress from the workload perfectly encapsulates the Tinbergen Institute. If you are not truly passionate for the material that the TI offers, it is really not going to be fun the put in the hours required for the assignments and exams. Nobody knows you better than you know yourself: if you believe you like econometrics in such a way that you see yourself going for a PhD in that field, the graduate program is going to be a wonderful (though intense) experience. And note that in multiple ways, you are not alone! Apart from your fellow students going through the same as you are, the staff at TI really does help you in any way they can. There really is a ‘the door is always open’ culture, which creates a feeling of going through the program together with the people in charge.

If this piece either made you more curious about the Tinbergen Institute or simply raised more questions about it, it is a great idea to just reach out to students (e.g. me), research fellows, or the staff to get more input on how the program really is. It is two years long, so properly understanding what you are signing up for is of paramount importance! If you love econometrics and want to continue diving into this fascinating world of math, statistics, and all things related, you really should consider the Tinbergen Institute: I’m sure the institute will love you too.