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This brochure contains information about the bachelor programme. There are separate brochures providing details about the master programmes. Visit www.rug.nl/masters
CONTENTS
Economics and Business Economics in Groningen
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Reasons to study Economics and Business Economics Economics specialisation International Economics and Business specialisation The degree programme in Groningen Facilities About Groningen...
The Dutch education system Propaedeutic phase Post-propaedeutic phase Masters phase Study abroad!
Student life
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After graduating
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Another way to do it
Admission
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Tuition fees
Information Addresses
Situated in the north-west of Europe, the Netherlands is the gateway to Europe: one of the founding members of the EU, high standards of education, health care and social equality, and close to most European capitals.
University of Groningen 400 years of academic tradition and innovation Leading research university Study in an international environment Dedicated to student involvement programmes Facts & Figures 27,947 students 3,100 international students 139 nationalities 9 faculties Bachelor, Master and PhD programmes 9 Graduate Schools 83 English-taught degree programmes 10 English-taught double degree programmes
Admissions requirements
The latest Worldwide Cost of Living Survey shows that living expenses in the Netherlands are modest compared to cities like New York, Paris, London and Beijing. In fact, it still enjoys one of the lowest costs-of-living in Europe.
Housing
260450 / month (administration 300 once)
Language course
100450 / course
Apply before
1 May 2011 for non-EEA nationals (requiring a visa to enter the Netherlands) 1 June 2011 for all other students
Food
200 / month
Security deposit
325 / year
Money
55 / month
Bicycle
45110 / used bike
Tuition Fee
EEA-students 1,672 non-EEA students 6,800 Books and other study materials should come to no more than 650 per year.
Insurance
75100 / month
Total
9,00010,000 / year
GRONINGEN AMSTERDAM
www
www.rug.nl/feb/prospectives (for details about admission and tuition fees) www.feb-international.com (student ambassadors) www.rug.nl/howtoapply (application other students) www.rug.nl/insandouts (practical information in English)
Economics is a valuable tool in addressing topics such as the environment, the world financial crisis, health care and international business. Students who study Economics and Business Economics can become experts in these, and many other global issues.
Reasons to study Economics and Business Economics What are the consequences of a world wide credit crisis? Can we do anything about them? Why would Dutch firms open subsidiaries in China? These are the kinds of challenges that are faced by entrepreneurs and business managers at all levels of a firm. The way they solve them has important implications for their firms and other firms; local, national and international economies; and society at large. The recent global economic crisis has underscored the need for efficient, equitable and reliable ways of handling complex economic relationships. Firms, large and small, national and international, governments, and private and public sector organisations all need carefully thought-through answers to pressing issues, and those answers must be logically and clearly expressed. If you choose the three-year Economics and Business Economics Bachelors degree programme at the University of Groningen you will see how policy makers and business experts attempt to stimulate economic and corporate activity. At the same time, they try to mitigate potentially negative impacts, on the environment for example. This programme will give you the theoretical tools and the analytical skills needed to address complex and sometimes controversial issues. The programme is entirely in English. During the first year all students take the same courses. At the end of year one, you will decide whether you will specialise in economics or business economics. Economics specialisation Those with a particular interest in social and economic problems can opt for the specialisation Economics. Economists look at economic data, make sense of them, and explain their implications to others. It might be said that economics is a way of thinking, of looking at the world and approaching economic problems, and as such, the number of applications is almost limitless. International Economics and Business specialisation The world has become more and more integrated, but firms still have to deal with stakeholders with diverse social norms and expectations, handle sometimes conflicting regulations, cope with different legal systems, and balance multiple currencies. The international economics and business specialisation gives you the tools to understand and potentially influence the behaviour of international firms, intergovernmental organisations, and nongovernmental agencies in a global business environment. It includes analyses of how the international economic environment affects the strategies of firms and other international actors. The degree programme in Groningen The academic staff actively carries out research and has many theoretical and empirical publications to its credit. Their collective knowledge, awareness of advances in the field, and know-how are reflected in what
they bring to the classroom and in their mentoring. Their business and institutional contacts worldwide open doors to internships and exchange programmes. Facilities Surroundings are important. Our buildings are modern, comfortable and well equipped. The central library of the university has a core collection for each discipline. We also have our own library with an extensive and always growing economics and business collection, plenty of study spaces, meeting rooms, and a plaza caf for short breaks. There is free wireless access throughout the complex. You can go on the Internet, read and send email, and check for updates on the student intranet home page, wich links to just about all programme-relevant information. About Groningen... Student life in Groningen doesnt need much of an introduction. Groningen is known for being a fun and vibrant student city. It is large and interesting enough for you to enjoy yourself, yet still small and pleasant enough for you to feel at home. Roughly one out of every six people living in Groningen is a student! The nightlife and the cultural, sporting and recreational opportunities are excellent, as you will soon discover.
www
www.rug.nl/feb/bscecobe (more about the course of study) www.rug.nl/feb/prospectives www.rug.nl/feb/studiekiezers (information for Dutch prospective students) www.rug.nl/feb/streetview www.rug.nl/honours (Honours College University of Groningen)
The Batavia
Replica of the Batavia, a Dutch East India Company ship launched in 1628. The Dutch have been involved in international trade for a long time. The Dutch East India Company, the VOC, was the first multinational corporation, and the first company anywhere to issue stock and pay dividends. (Photo: Jaap Roskam)
Is this the programme for you? Students who choose this programme should be interested in understanding some of the most
fundamental forces that drive our world, open to cultural differences, and comfortable with the prospect of being abroad. In a word, they should be adaptable.
Quota on pollution
Air pollution damages the atmosphere and the Earths ecosystems. Economists have devised something called the cap and trade approach to air pollution. Every country has an emissions limit. Those that exceed their allowance must go on the market to buy credits from others that do not, thereby rewarding lower pollution. Because total pollution worldwide is capped, everybody wins!
UNIVERSITY OF GRONINGEN
27,947 students altogether 586 Bachelors students in Economics and Business Economics 5,971 first year students altogether 158 first year students in Economics and Business Economics 3,100 international students from outside the Netherlands 5,550 employees 571 professors 58 Bachelors programmes 114 Masters programmes 9 faculties 190 buildings 400,000 square meters of facilities 525 million euro annual budget
ExCEllENCE AllOWED!
Gifted and motivated students are given the opportunity to make the most of their talents via the University of Groningen Honours College. Completing this challenging programme will result in an additional Honours diploma. Students follow special Honours workshops and other deepening courses alongside their usual Bachelors degree courses. They also organize guest lectures and company visits. Students also follow a number of broadening courses and training programmes with Honours students from other faculties. There is a selection procedure. More information: www.rug.nl/feb/excellenceallowed
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The Bachelors degree programme in Economics and Business Economics consists of two phases: the propaedeutic phase (first year) and the postpropaedeutic phase (second and third years). After the first year you must choose between Economics or International Economics and Business.
The Dutch education system Studying at a university is different from going to high school. An academic year has two semesters of 21 weeks each, September to February and February to July. We use the European Credit and Transfer System (ECTS) which expresses course workloads and learning outcomes in terms of credits. A credit represents 28 hours of time spent reading and studying, attending classes, participating in small groups, working on individual and team projects and the like. As students are required to devote more time to some courses, the number of credits per course varies. It takes 180 credits to earn a Bachelors degree. Teaching is done with lectures, tutorials and practicals. It is important that students prepare ahead for lectures as all of the material cannot be covered in the time allotted for them alone. Lecturers focus on main points and on particularly difficult aspects of the assigned literature. Material is discussed in much more detail in tutorials of 15 to 20 students each. Students and staff discuss the readings and lectures and go over individual assignments and joint work in the tutorials. Practicals give students an opportunity to work together in still smaller groups on assignments and presentations. Usually there is at least one written exam. Course grades normally are calculated based on exam results and marks earned on assignments.
Dpr$$ion!
A worldwide credit crisis is nothing new. Since the Greeks first used money in 600 BC theres been the potential for economic turmoil. We seem to be caught in a never-ending cycle of economic crises like the Wall Street Crash of 1929. The History of Economic Thought course covers the work of classical economists like Adam Smith and Karl Marx, of monetarists, including Milton Friedman, and of others. Studying the past may be just what is needed to find real solutions for the future.
Propaedeutic phase During the first year of the programme all students take the same courses. They cover the fundamentals of Micro- and Macroeconomics, and the basics of Mathematics and Statistics, Finance and Financial Accounting, and International Economics, Business and Marketing. Each year every student also works on Research Methods, and learns a number of theoretical and empirical skills that are at the core of any scientific study. Some of the courses in year one are detailed below. Micro- and Macroeconomics These are arguably the most fundamental courses. In Microeconomics you will consider the choices made by consumers and producers in markets. What you learn will allow you to forecast what they will do, and understand why they do it. Macroeconomics covers whole economies. You will look at changes in national income and employment for instance, and topics from ageing populations to financial and monetary crises.
Finance and Financial Accounting In Finance and Financial Accounting you will find out how firms acquire, use, and account for capital. You will learn about shares, bonds and options, company cash flows and financial budgeting. You will see how management strategy and firm results are reflected in financial accounts. International Economics, Business and Marketing In International Economics you will learn about the global economy and how it functions, about international institutions, international trade theory and trade policy. In International Business you will learn that multinational firms attempt to spread the fixed costs of developing new products and processes among customers worldwide, but that they are often hampered by international differences in tastes and conditions of use. In International Marketing you will learn about product design, pricing, promotion, and distribution, and ways to meet the needs and expectations of customers. All of these courses will form your toolkit. Research Methods will help you to make the most of those tools in carrying out research. Finally, English is vital because all of the material is delivered in English.
At the end of the first year you will be issued with a binding study advice. We presume that you will obtain all your credits. If you have not yet earned forty of the sixty credit points, you will have to stop your studies. You must also complete the first-year programme within two years. Post-propaedeutic phase After the broad foundation of the first year, you will choose between a specialisation in Economics or in International Economics and Business. Economics If you select Economics, you will learn additional aspects of microeconomics, especially international industrial economics, and macroeconomics, and develop still further your knowledge of finance, public finance and financial policy. You will continue to add to your skills in mathematics and add a new dimension with econometrics. You will study international economics and trade, international monetary economics, and the history of economic institutions. You will also have your first opportunity to write an empirical research paper in year two.
BACHELORS DEGREE PROGRAMME in Economics and Business Economics First year (propaedeutic phase) International Business Microeconomics Macroeconomics Mathematics English Statistics International Marketing Financial Accounting International Economics Finance Research methods Second and third year (International Economics and Business) Growth, Institutions and Business Mathematics and Statistics International Industrial Economics International Business Research International Business Strategy International Economics and Trade International Monetary Economics International Economics and Business Development Economics Finance Second Language Electives Bachelors thesis Study abroad (IE&B minor) Second and third year (Economics) Public Finance Macroeconomics Mathematics Microeconomics (International Industrial Economics) Growth and Business Econometrics Finance International Economics and Trade Empirical Research Paper International Monetary Economics Applied Public Finance and Economic Policy Electives Bachelors thesis Study abroad or study in Groningen: Political Economics Financial Intermediation History of Economic Thought Elective University of Groningen Electives in Economics (Labour Economics, patial Economics or Environmental S Economics)
You may choose to study outside of the Netherlands in the first semester of your third year. You will return to Groningen for the final semester, where you will complete your Bachelors thesis. International Economics and Business If you select International Economics and Business you will focus on international economics and trade, international business strategy, international monetary economics, international industrial economics, international institutions and business, and development economics. You will analyse why the economies of some countries are less developed, when and why multinational firms adopt particular strategies and how they implement them, and the multiple factors that determine exchange rates. You will also continue to work on your skills in mathematics and statistics. You must study a second language, and will take one of several possible electives. In your second year you will also develop new skills in international business research. You will study outside of the Netherlands in the first semester of your third year. In the second semester you will complete your Bachelors thesis. Study abroad If you decide to specialise in Economics you may elect to study outside of the Netherlands in your third year, if you choose to specialise in International Economics and Business you will definitely do so. You will be strongly encouraged to take economics and business electives of your own choosing for a semester outside of the Netherlands at one
of our many partner institutions throughout Europe and Latin America, in Australia, Canada, China, the Republic of Korea, New Zealand, South Africa, the United States and many other countries. You will also have opportunities to intern abroad. Masters phase You may decide to go directly onto the job market after earning your Bachelors degree, however additional knowledge and improved research skills may give you many more career opportunities. The University of Groningen offers a variety of Masters programmes, such as the Masters in Economics, a high-calibre programme in economic theory and policy. Another suitable programme is the Masters in International Economics and Business, in preparation for an international career in either the private or public sector. You can also try to get into one of the three specialisations within the MSc in IE&B. We have double degree possibilities with the University of Gttingen (Germany), the Business School of Management in Oslo (Norway) and Corvinus University of Budapest (Hungary). Other programmes you might be interested in are the Masters in International Business and Management, the Masters in Business Administration, and a two-year Research Masters programme in Economics and Business in preparation for a career in academia. There is also a two-year teacher training course in Economics and Business Studies taught in Dutch.
POWER OF BANKS
One of our students researched the market power of banks at the Dutch Central Bank in Amsterdam for her final year thesis. She compared the extent to which banks in different countries are owned by the state or by national or foreign shareholders.
ACCESSIBlE MASTER OF SCIENCE DEGREE PROGRAMMES Business Administration (9 specialisations): Business and ICT Business Development Change Management Finance Marketing Operations and Supply Chains
www
www.rug.nl/feb/bscecobe www.rug.nl/feb/programmes (overview of courses) www.rug.nl/feb/msc (Masters degree programmes Economics and Business) www.crisisofcredit.com
Organisational and Management Control Small Business and Entrepreneurship Strategy and Innovation Economics International Business and Management (2 specialisations) International Financial Management (18 months) Advanced International Business Management and Marketing International Economics and Business (3 specialisations) Strategy International and Development Economics International Economy and Business Research Master Economics and Business (24 months) Teacher Training in Economics and Business (24 months)* * Two degrees are conferred, a Masters in your area of concentration and another in Education and Communication
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A difficult degree? Some students find the programme demanding. Especially first year courses like Macroeconomics, International Economics,
Finance and Financial Accounting can be difficult. Ideas that you have already formed may be challenged, and to do well you will need all of your math skills. You may find too that it takes extra time to read and write in English.
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STUDY ABROAD!
There are roughly a thousand Groningen students taking classes, doing senior projects and working in internship positions outside of the Netherlands each year. If you elect to specialise in International Economics and Business, you are required to spend the first semester of the third year abroad. You may also elect to do so if you specialise in Economics. We believe that these are valuable educational and life experiences, and actively facilitate them. You can apply to spend a semester at one of dozens of Groningens partner universities, choose from other institutions with which we have established relationships or find a place abroad yourself. It is important that you begin planning your semester abroad well in advance. The Exchange Office can give you valuable information about the many programmes and grants that are available. They let you know about practical matters such as visas, and put you in touch with students and academic staff from outside the Netherlands who are at Groningen and who may be able to help you. The exchange coordinator will be able to inform you about earning transferable credits while you are studying away from Groningen. Not only do we want our students to experience studying and living outside the Netherlands, but we also open our own doors. You are sure to meet one of the 3100 or so students from other countries who come here annually to study, or hear one of the many guest speakers from outside the Netherlands or be taught by academic staff members from abroad.
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STUDENT lIFE
Your life as a student in Groningen will start with the general introduction week for all first-year students at the University of Groningen (KEI-week).
Introduction and student associations The KEI-week is the perfect way to get to know the city and learn about all the possibilities for students here. Groningen offers a range of cultural and sports activities. Students can look into whats on offer by contacting USVA, the cultural centre for students, and ACLO, the student sports umbrella organisation with 52 sports associations. All Economics and Business Faculty incoming students must attend orientation at the end of August. The Economic and Business Student Faculty Association (EBF) hosts an introduction camp. One of the things that students will find out about is EBF itself, an organisation open to all students in the Faculty, that organises conferences and symposia, arranges company visits and study trips, and sponsors many other activities. Economics and Business Economics students will be especially interested in associations like AIESEC, MARUG and CreDes. Study progress supervision Unlike at secondary school, at university you are not supervised so closely. We expect you to work independently and plan your studies. However, we will of course help you to do so. Together with other firstyear students, you will be assigned to a mentor group with a mentor. This senior student will help you quickly find your way around the Faculty. There are about 15 students in a mentor group. These are also the students you will share tutorials with. This small-group approach results in a lot of contact between students and between students and lecturers. You will have a progress meeting with your tutor (lecturersupervisor) after every exam block. If you have specific studying problems, for example with exams, funding or study delay, you can call on the Facultys study advisors. If you have questions about studying in general, you can go to the University Student Desk.
www
www.ebfgroningen.nl, www.credes.nl (student associations) www.keiweek.nl (introduction) www.groningenlife.nl (student life) www.lefier.nl, www.kamernet.nl (finding rooms)
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I really liked my classes in economics in high school, and wanted to keep studying it. I also liked sports a lot, I grew up on the water and have sailed most of my life, and wanted to keep doing that too. When I came to Groningen to participate in Student for a Day I realised that it would be possible for me to do both. Im on the board of the student sailing club Mayday. The university backed us with a loan to buy a narrow bow Dutch sailing clipper that was first launched in 1906. Being out on that ship calls for the same kind of skills as it takes to see through a small group project for a class: preparation, flexibility, and teamwork. The programme isnt easy. Even with a good background in economics I have to admit that Ive struggled at times. I find the mathematics a real challenge. Now Im doing something every bit as hard learning to think critically. As Ive said, I like sports. I found that they can form the basics for really interesting research. Did you know that the Netherlands was in the running to host the 2018 FIFA World Cup? Jelte tells more about the economic benefits of attracting an international tournament like the World Championship to the Netherlands in a video on www.rug.nl/video/ba-economics.
AFTER GRADUATING
There are many job opportunities for economists in business, and in labour as well. Economists work for government and for non-government institutions. They might be bankers, purchasing agents, or work for themselves.
Earning a Masters degree increases appreciably your career options and allows you to reach higher levels in business, government and non-governmental agencies. A Masters in International Economics and Business will give you the credentials to work for a multinational firm or any number of governmental institutions or international organisations. You might become an analyst for a research institute, consulting firm or university. Students have the possibility to participate in high level contract research activities of international organizations, such as the Conference Board (New York) and the International Labour Organization (ILO, Geneva). Other companies where you can end up working for are the Organization for Economic Cooperation and Development (OECD), World Bank, CESifo Institute Munich, the Social and Economic Council of the Netherlands. A Masters in Economics may lead you into the world of banking where you might be an analyst or financial advisor, or you could work in the policy section of a central bank, perhaps analysing the impact of monetary and economic policy. You might choose the government sector, beginning in an advisory role and moving later into a management position. You could take part in developing important social programmes and devising ways of administering them. If you were to choose the Research Masters you could move into academia and perhaps decide to go further still and earn a PhD at universities in the Netherlands or abroad.
www
www.rug.nl/feb/alumni (graduates site) www.ecb.int www.worldbank.org www.rug.nl/feb/som (research school)
Sabine Klok
incorporated work that she did during her internship at the Dutch embassy in Paramaribo Surinam into her Masters thesis. Today she applies her analytical skills and economic knowledge to a variety of foreign policy issues in her advisory position at the Dutch Ministry of Finance in the Foreign Affairs Department.
Iryna Maslennikova
has a MSc in Economics and Business. She was interviewed by Shell during Recruitment Days on campus and today works in Shells Gas & Power division advising executives on, among other things, pricing and risk management.
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AFTER GRADUATING
ADMISSION *)
VWO
WITH A DUTCH VWO DIPlOMA Candidates with the profiles Economics & Society, Nature & Health or Nature & Technology can immediately enter the Bachelors programme. The profile Culture & Society must be complemented with mathematics A or B.
HBO
WITH A DUTCH HBO DIPlOMA With a HBO propaedeutic certificate it is also possible to enter the programme, on condition that you meet the required level of mathematics. You must at least have taken mathematics A12 or B1 (now mathematics A or B) at Dutch VWO level.
VWO/HBO
NO DUTCH VWO OR HBO DIPlOMA? If you do not have a Dutch VWO or HBO diploma but are 21 or older, you may take the university admission exam, the colloquium doctum, for a fee of 100,. If you pass, you will be admitted to the Bachelors degree programme.
www
rug.studielink.nl (application Dutch students) www.rug.nl/hoezithet (practical information Dutch students) www.duo.nl (financial assistance Dutch students)
* ) Information for Dutch applicants. Admissions information for international applicants can be found in the inside cover of this brochure.
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Would you like to have more information about this and other programmes? Come and visit our information events. Information Day Friday, 5 November 2010; registering in time is compulsory All bachelor programmes In and around the Academy building, city centre Groningen ach programme will offer a short presentation and give individual E information ectures on housing, student life, etc. L nformation booths I Open Day on Location Friday, 4 March 2011; registering in time is compulsory ll bachelor programmes A isit programmes on location V isit one or two programmes of your choice V ecture, trial class, tour of the building, information booths L Last Minute Information Day Friday, 10 June 2011 orning programme Academy building: lectures on numerus fixus M (lottery admission), workshops on how to choose the programme that fits you best, information market, office hour by a limited number of programmes fternoon programme: visit one of the programmes of your choice A
Student for a Day On Thursday 9 December 2010 and Thursday 7 April 2011 For prospective students who have almost made up their minds Intensive programme at one degree programme The programme depends on the degree programme: lecture, tutorial, practical, dinner in the city Many other degree programmes organize a student for a day programme, but not all degree programmes Register with the degree programme itself, via www.rug.nl/feb/eds If you need more information on events, check out www.rug.nl/studiekiezers, or call the Communication Office, (050) 363 90 11.You will automatically be informed of all information events if we have your address. Enrolment Dutch students can enrol for this study programme on rug.studielink.nl. Studielink is an online national desk where you can take care of everything that has to do with registering for higher education. It also offers the possibility to apply for financial assistance (DUO/IB-groep). International students can enrol via www.rug.nl/howtoapply.
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Friday, 5 November 2010 Information Day November 2010 until August 2011 Enrolment Dutch students via rug.studielink.nl Students from outside the Netherlands enrolment at www.rug.nl/howtoapply, before 1 May (For numerus fixus (limited admission) degree programmes the enrolment deadline is 15 May for Dutch and 15 April for international students) Thursday, 9 December 2010 Student for a Day Friday, 4 March 2011 Open Day on Location Thursday, 7 April 2011 Student for a Day Friday, 10 June 2011 Last Minute Information Day August 2011 General Orientation Week (KEI-week), Orientation for student associations and the faculties Monday, 5 September 2011 Official start of the academic year
For questions about enrolment, financial matters, etc. University Student Desk +31 (0)50 363 80 04 www.rug.nl/hoezithet www.rug.nl/insandouts For questions about on-site events Communication Office +31 (0)50 363 90 11 studiekiezers@rug.nl www.rug.nl/studiekiezers For questions about the programme Faculty of Economics and Business Student Support +31 (0)50 363 89 00 www.rug.nl/feb/studentsupport
Economics and business economics on the internet www.rug.nl/feb/bscecobe Enrolment Dutch students via rug.studielink.nl Helpdesk Studielink +31 (0)88 424 76 00 Enrolment international students via www.rug.nl/howtoapply
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MORE INFORMATION
In addition to this brochure there are also two general information guides, titled Studeren in Groningen (available in Dutch; with information about all Bachelors programmes), and International Bachelor Degree Programmes (available in English; with information about the English Bachelors programmes). Apart from comprehensive information about study possibilities at the University of Groningen, these brochures contain information about admission, application, registration, accommodation, student life, facilities for the disabled, language courses for students from minority groups, the labour market and more. To order the general information guides, please visit www.rug.nl/studiekiezers (for the Dutch guide) or www.rug.nl/ propectivestudents (for the English guide).
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www.rug.nl/studiekiezers
www.rug.nl/internationalstudents
September 2010
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Colophon Publication Communication Office, University of Groningen Text Gracefully Put Lay-out In Ontwerp Photos Johan Zwart, Jaap Roskam, Elmer Spaargaren, Michel de Groot