310148 :Seminar Generational Economics


Voertaal Engels
Werkvorm: (Collegerooster)
Tentamenvorm: Written exam (50% of grade, minimum 5.0), Assignments, papers and class participation (50% of grade) (Tentamenrooster)
Studielast:6 ECTS credits
Inschrijving:via Blackboard
Blackboard informatieLink to Blackboard (Als u de melding 'Guest are not allowed in this course' krijgt, dient u nog bij Blackboard in te loggen)


prof. dr. E.H.M. Ponds (Coordinator)

prof. dr. A.C. Meijdam

M.L. Kobielarz MSc (TA)

L. Erdenesuren (TA)

Doel van de cursus (alleen in het Engels beschikbaar)

After completion of the course students should be able to understand the basic principles and concepts used in the literature on generational economics in general and on the macroeconomics of ageing and pensions and plan design in particular. This should allow them to read and understand most recent academic articles in these fields. They should be able to understand the main theories, what assumptions in theories drive certain results, and what applications theories have in practice. They should be able to cast current problems and issues in the framework developed in the course. They will be challenged to think independently and develop a critical attitude towards the models and theories used.

Inhoud van de cursus (alleen in het Engels beschikbaar)


Many economic developments and policy problems involve many generations and questions about welfare distribution and risk sharing within or between generations. Examples are government debt policy, environmental problems, population ageing and pension policy. In this course you will be introduced into the economic models used in analyzing the generational issues and learn how to apply these models to actual policy problems. The course focuses in particular on the applications in the field of population ageing and pension system design. We discuss ageing-driven pension reforms, implying generational redistribution and more individual pension arrangements. Typical questions analyzed are for example;

-       What are the consequences of ageing for the distribution of welfare between and within generations?

-       What is the role of the government debt?

-       What is the effect of ageing on the interest rate and international capital flows?

-       Should pension schemes be reformed from Pay-As-You-Go (PAYG) schemes to fully funded schemes?

-       What are the main prototypes in pension system design?

-       What are the main trends in ageing-driven pension reform? 

-       What are the benefits and costs of intergenerational risk sharing in pension arrangements?


The course consist of two parts:

Part A: Overlapping generations models; The macroeconomics of aging and pensions

Part B: Pension system design; Ageing-driven pension reform

For a detailed description of the content and the grading of both of the course, please go to Backboard.

Bijzonderheden (alleen in het Engels beschikbaar)

This course is closely linked to the course The Economics and Finance of Pensions of prof. dr.  Casper van ewijk, prof. dr. Theo Nijman and dr.  Roel  Mehlkopf.  The course is of importance and relevant for students in the MSc programmes Economics,  Investment Analysis, Financial Management, Mathematical Economics and Econometric Methods, Operations Research and Management Sciences and Quantitative Finance and Actuarial Sciences.


Pension industry

One of the main activities of the course is a content-based excursion to the 350 bln euros pension service provider APG with visits to and presentations at selected departments (ALM, Policy & Strategy, Asset Management, Actuarial department). In previous years, outstanding students in class have been selected for internships, traineeships and jobs at APG. Over the years, APG-based students have won several thesis awards offered by different organizations from the academic world and industry. 

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