Annual Report 2003: Econometric Institute

It is often heard that the world around us is changing rapidly. New technologies, new institutions, and new policies; they all a®ect our day-to-day life. And, somewhat closer to us, new teaching methods, new academic programs (like bachelor and master), and new academic governance structures; they all a®ect our working conditions, also here at the Econometric Institute. Of course, the Econometric Institute, being on its way to its 50-th anniversary in 2006, has witnessed many turbulent developments in the last half a century. It is therefore prepared for facing many more. Indeed, its basics are solid and constant. There is a steady enrollment of ¯rst year undergraduates, a steady out°ow of excellent students into graduate programs, and top-level academic research by its members, and last but not least, a comradely atmosphere. There has been one change though by the end of 2003. The 8-th director of the Institute, Herman K. van Dijk, handed over the chair, after 6 years of dutiful and charming service. We all thank him for his inspiring endeavor. This annual report will tell the reader who we are and what we do. Basically, it is about what we always did, and we always will do, that is, top-level academic research combined with personalized and intensive teaching.