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Course module: 323068-M-6
323068-M-6
The Economics and Finance of Pensions
Course info
Course module323068-M-6
Credits (ECTS)6
CategoryMA (Master)
Course typeCourse
Language of instructionEnglish
Offered byTilburg University; Tilburg School of Economics and Management; TiSEM: Economics; Economics;
Is part of
M Quantitative Finance and Actuarial Science
M Econometrics and Mathematical Economics
M Economics
M Finance
Contact persondr. R.J. Mehlkopf
Lecturer(s)
Lecturer
J.L.M. Bonekamp, MSc
Other course modules lecturer
Lecturer
prof. dr. C. van Ewijk
Other course modules lecturer
Coordinator course
dr. R.J. Mehlkopf
Other course modules lecturer
Lecturer
dr. R.J. Mehlkopf
Other course modules lecturer
Lecturer
prof. dr. T.E. Nijman
Other course modules lecturer
Academic year2019
Starting block
BLOK 2
Course mode
Full-time
Remarks-
Registration openfrom 07/10/2019 up to and including 24/01/2020
Aims

After completing this course, the students understand the main issues related to the design and reform of pension systems, have a good overview of the actual pension systems and main reform issues around the world, and know the links with the other courses in the Netspar tracks and specializations.

 

 

Content

Students will become familiar with the concepts of Intergenerational distribution, Intragenerational distribution, and Risk sharing, in the context of pensions. More in particular, the students will become familiar with the following topics, related to the main issues:

Intergenerational distribution:

  • Funding versus pay-as-you-go financing
  • Saving behavior
  • Generational accounting
  • Overlapping generation models

Intragenerational distribution:

  • Actuarial neutrality and poverty alleviation
  • Labor markets and retirement decisions
  • Insurance of longevity risk
  • Tax treatment of pensions

Risk sharing:

  • Optimal sharing of systematic risks
  • Optimal saving and investment over the life cycle
  • Capital market imperfections and valuation of pensions
  • Defined-benefit and defined contribution schemes

Applications:

  • Pension institutions around the world
  • Pension reform in the Netherlands

Type of instructions

3 hours lecture per week

Type of exams

Written exam (50%), Problem sets (30%), Presentation/essay (20%)
Course available for exchange students
Master level, conditions apply
Timetable information
The Economics and Finance of Pensions
Written test opportunities
DescriptionTestBlockOpportunityDate
Schriftelijk 50% / Written 50%EXAM_01BLOK 2113-12-2019
Schriftelijk 50% / Written 50%EXAM_01BLOK 2217-01-2020
Written test opportunities (HIST)
DescriptionTest/BlockOpportunityDate
Required materials
-
Recommended materials
Literature
N. Barr and P. Diamond, “Reforming Pensions: Principles and Policy Choices,” Oxford University Press (2008).
Tests
Written 50%

Final grade

Problem sets (four) 30%

Simulation exercise 20%

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