The master’s program in Applied Economics offers students the opportunity to apply economic tools to real socio-economic problems and to comprehend developments in Economics as evident in the growing Economics literature. Students are introduced to the micro- and macroeconomic theories that guide empirical applications such as focused and applied fields in Economics, quantitative methods for addressing economic problems and cross-disciplinary perspectives on such problems.
Graduates of the Applied Economics program will have an educational background that is conducive to employment in banking or financial institutions, insurance, corporate strategic planning, real estate, journalism, management, marketing, labor arbitration, regulation, environmental and urban and regional planning. Graduates may also choose to undertake further studies in Ph.D. programs in Political Economy, Economics, and Political Science, as well as additional studies in Business or Law.
Students have access to the computing facilities in the School of Social Sciences and the University’s Computing Center. The School has two computing laboratories which have over 30 computers that are network linked and equipped with major social science software packages, including E-Views, R. Rats, SPSS and STATA. A computerized geographic information system, the Lexis Nexis Database and WestLaw are also available for student use. The University’s Computing Center provides personal computers and UNIX Workstations. Many important data and reference materials are also available online via the library’s and school’s memberships in numerous organizations.
The University’s general admission requirements are discussed here.
The master’s program in Applied Economics seeks applications from students with a baccalaureate degree from an accredited university of college. A 3.0 undergraduate grade point average (on a 4.0 scale), and a combined verbal and quantitative score of at least 1000 on the Graduate Records Examination (GRE), or equivalent score on the Graduate Management Aptitude Test (GMAT), is advisable. Students may also wish to consider submitting their score from the writing component of the GRE test as additional evidence of their writing skills. Standardized test scores are only one of the factors taken into account in determining admission. Students should also submit all transcripts, three letters of recommendation, and a one-page essay outlining the applicant’s background, education and professional objectives.
For the Master of Science in Applied Economics, students with a Bachelor of Science in Economics will have the necessary foundation in economics, statistics and mathematics. Students who lack this foundation should complete the following undergraduate courses: ECO 4351 Mathematical Economics, ECO 4355 Econometrics, and SOCS 3303 Introduction to Social Statistics; and two graduate courses: POEC 5305 Microeconomics for Policy I and POEC 5306 Macroeconomic Theory and Policy, in order to begin the program.
Students who have previous graduate work pertinent to the requirements of a master’s program may be given up to 15 hours of transfer credit, and the hours of coursework required for the degree will be reduced accordingly. Students desiring to transfer graduate courses thought to be equivalent to core courses may be required to demonstrate competency through examination. The award of such transfer credit must be consistent with the University’s “Transfer of Credit” policy.
The University’s general degree requirements are discussed here.
Students seeking a Master of Science in Applied Economics degree must complete 36 semester credit hours of work in the program. The program has three components: 15 hours (five courses) in Economics and Social Science, 9 hours of Applied Economics Electives and 12 hours of Free Electives. Students must achieve at least a 3.0 grade point average in the required courses and an overall grade point average of 3.0 to graduate.
Advising note: If the student intends to enter the Ph.D. program in Economics upon completion of the M.S.A.E. then he or she should consider taking ECO 6307 Microeconomics Theory II and ECO 6308 Macroeconomic Theory II as electives.