Program Details

The Master of Science in Applied Economics program is structured to be flexible. Full-time students can complete the degree in one calendar year and part-time students in two calendar years. Students can leverage their studies in economics by obtaining a complementary graduate certificate, for example in Finance, Marketing or Business Analytics.

Master of Science in Applied Economics students will:

  • Acquire and apply advanced economic principles to essential problems in business and economics
  • Manage and analyze data using software packages such as SAS
  • Communicate clearly and cogently in written and oral form using modern technology
  • Acquire advanced quantitative and econometric techniques and be able use them to design and conduct applied economic research that will inform managerial and policy decision-making

The Master of Science in Applied Economics degree requires the completion of 30 semester credit hours. These 30 semester hours do not include the Business Core courses required of all graduate students.

Fall semester required courses.
Course number Course title Credits
ECON 6010 Data Management and Analysis in SAS 2
ECON 8010 Econometrics 4
ECON 8020 Microeconomic Theory 4
ECON 8030 Macroeconomic Theory
4
Spring semester required courses.
Course number Course title Credits
ECON 8011 Time Series Econometrics 4
ECON 8021 Game Theory 2
ECON 801x Econometric Elective 2
ECON 801x Econometric Elective 2
  Elective 2
  Elective 2
BA 7077 Career Management 0

During the summer semester students must complete at least two credits, and all will complete an applied economic research project. This will either be completed in conjunction with an internship or in the Masters Research Practicum course.

Electives

Econometric electives

Students will typically take two of the following econometric electives:

  • Advanced Statistical Models, ECON 8012 / OBAIS 7042
  • Bayesian Econometrics, ECON 8013
  • Spatial Econometrics, ECON 8014
  • Panel Data Econometrics, ECON 8015

Other electives

Students will typically choose four credit hours of electives from the following:

  • Topics in Macroeconomic Theory, ECON 8031
  • International Economics, ECON 8040
  • Personnel Economics, ECON 8060
  • Industrial Organization, ECON 8070
  • Urban and Regional, ECON 8080

Electives from other graduate business courses may be chosen if approved by the academic director of the Master of Science in Applied Economics program.

The Master of Science in Applied Economics degree can be completed in two calendar years by part-time students. While there is some flexibility in the scheduling of particular classes, the outline below provides one potential plan for part-time students.

Course outline for part-time students.
Year Semester Course number Course title Credits
Year 1 Fall ECON 8010 Econometrics 4
ECON 8020 Microeconomic Theory 4
Spring ECON 8011 Time Series Econometrics 4
ECON 8021 Game Theory 2
Summer   Elective 2
Year 2 Fall ECON 6010 Data Management and Analysis in SAS 2
ECON 8030 Macroeconomic Theory 4
Spring ECON 801x Econometric Elective 2
ECON 802x Econometric Elective 2
  Elective 2
Summer ECON 8090 Masters Research Practicum 2

Electives

Econometric electives

Students typically take two of the following econometric electives:

  • Advanced Statistical Models, ECON 8012
  • Bayesian Econometrics, ECON 8013
  • Spatial Econometrics, ECON 8014
  • Panel Data Econometrics, ECON 8015

Other electives

Students typically choose four credit hours of electives from the following:

  • Topics in Macroeconomic Theory, ECON 8031
  • International Economics, ECON 8040
  • Personnel Economics, ECON 8060
  • Industrial Organization, ECON 8070
  • Urban and Regional, ECON 8080

Electives from other graduate business programs may be selected if approved by the academic director of the Master of Science in Applied Economics program.

Each prospective Master of Science in Applied Economics student must demonstrate an academic background equivalent to that of an undergraduate business degree at an accredited institution. A student without a business degree desiring to earn the Master of Science in Applied Economics must complete or satisfy the following core courses (or their equivalents) prior to conferral of the degree:

  • ACCT 7000: Foundations in Accounting (two semester credits)
  • FIN 7000: Foundations in Finance (one semester credit)
  • MGMT 7000: Organization (two semester credits)
  • MKTG 7000: Foundations in Marketing (one semester credit)
  • BANA 6037: Data Visualization (two semester credits)

Students without a business degree may enroll in equivalent graduate courses and utilize them as free elective courses. Students holding a bachelor's or graduate degree in business administration may be able to waive some or all of these courses.

To waive some or all of the business core courses, the student must demonstrate:

  • Such courses were successfully completed as part of the student's prior undergraduate or graduate degree course work.
  • Such courses were completed within five years preceeding the date of admission to the Master of Science in Applied Economics program.
  • A grade of B or better was received in each course to be waived.

The program director will evaluate each transcript individually to determine any background courses that a student must take as a condition of admission into the Master of Science in Applied Economics program.