The George Washington University - Columbian College of Arts & Sciences
MS in Applied Economics
- Washington, USA
- Online USA
MSc
DURATION
4 semesters
LANGUAGES
English
PACE
Full time, Part time
APPLICATION DEADLINE
EARLIEST START DATE
TUITION FEES
USD 1,885 / per credit
STUDY FORMAT
On-Campus
Key Summary
GW’s Master of Science in Applied Economics provides students with the tools to succeed as economists in today’s data-driven world. Our graduates learn to draw meaningful implications from data and integrate economic analysis into their professional lives. They apply economic theory and quantitative methods to real-world scenarios such as measuring the impacts of government programs and forecasting economic trends.
Classes are taught by a diverse faculty, utilizing both GW’s internationally recognized economics professors and professionals from local economic organizations. Coursework includes not only economics material but also data science, budgeting and public policy, health and development economics and geographical information systems. Students also have the option to take up to two electives at the Trachtenberg School of Public Policy and Public Administration, the School of Business, the Milken Institute School of Public Health or the School of Engineering and Applied Science.
The MS in Applied Economics is a U.S. Department of Homeland Security STEM-designated degree program.
Program Highlights
- Full- or part-time enrollment options accommodate busy schedules.
- The curriculum includes research and data projects, allowing graduates to enter the job market with proven skills in applied economics.
- Funding is available for students to complete internships and work with professors, either on research or in their classrooms.
- Option to enroll simultaneously in a graduate certificate program in one of 10 different fields.
- One-on-one faculty advising on course selection and career opportunities.
- The workshop component helps students hone oral and written skills in the presentation of economic analysis.
- Opportunity to prepare for the Certified Business Economist® (CBE) professional certification in business economics and data analytics while completing the degree.
- Program specialties in budgetary and fiscal policy, regulatory and anti-trust economics, financial regulation, economic forecasting, development economics, labor and human resource economics, international trade, financial policy and urban and regional economics.
The MS in Applied Economics requires 30 credits to complete, including 18 credits from six core courses and 12 elective credits. The core courses are ECON 6300: Mathematical Methods for Economics, ECON 6301: Applied Microeconomic Theory, ECON 6305: Applied Macroeconomic Theory, ECON 6374: Probability and Statistics for Economics, ECON 6375: Applied Econometrics and ECON 6376: Time Series Analysis.
MS in Applied Economics students take 12 elective credits, six of which must be in approved 6000-level Economics courses. Students may take up to six credits in non-economics courses, including from the Trachtenberg School of Public Policy, the Milken School of Public Health, the School of Engineering and Applied Science, and the Graduate School of Business. Electives from other programs may meet the requirement subject to approval by the program director.
Course Requirements
The following requirements must be fulfilled: 30 credits, including 18 credits in required courses and 12 credits in elective courses.
Required
- ECON 6300Mathematical Methods for Economics
- ECON 6301Applied Microeconomic Theory
- ECON 6305Applied Macroeconomic Theory
- ECON 6374Probability and Statistics for Economics
- ECON 6375Applied Econometrics
- ECON 6376Time Series Analysis
Electives
- 12 credits in elective Economics (ECON) courses at the 6000 level or above selected in consultation with the program director.
Note: ECON 6217, ECON 6218, and ECON 6219 may not be used to fulfill the elective requirement. With program approval, students may select up to two graduate-level courses offered by the Trachtenberg School of Public Policy and Public Administration, School of Business, Milken Institute School of Public Health, and/or School of Engineering and Applied Science to fulfill the elective requirement. Courses in other graduate programs may meet this requirement subject to approval by the program director.
Plan of Study
All students, whether full-time or part-time, must complete the program within four years.
Full-Time Students
Students who study full-time will usually follow this plan of study:
- Semester 1: ECON 6300: Mathematical Methods for Economics, ECON 6305: Applied Macroeconomics, and ECON 6374: Probability and Statistics for Economics
- Semester 2: ECON 6301: Applied Microeconomics, ECON 6375: Applied Econometrics, and one elective
- Semester 3: ECON 6376: Time Series Analysis and two electives
- Semester 4 (or summer): One elective
Students who wish to pursue an alternative plan of study should meet with the director to ensure that the plan of study conforms with program requirements.
Full-time students take three courses a semester and generally complete the program by taking three courses in each of three semesters plus one course during the summer session or they complete the program in three semesters by taking three courses in each of two semesters and four courses in one of the three semesters.
Students who are admitted for the fall semester may choose to enroll in ECON 6300 in the summer prior to starting in the fall semester.
Part-Time Students
The department suggests a specific order of courses based on whether the student plans to take one or two classes per semester. All part-time students should meet with their advisor early in the semester to plan a full program.
- Two Courses Per Semester: ECON 6300 and ECON 6374 during the first semester, and ECON 6301 and ECON 6375 during the second semester.
- One Course Per Semester: Take ECON 6300 in the first semester.
Student Outcomes
- Identify economic questions and successfully solve them using the theoretical tools of micro- or macroeconomics and the quantitative tools of data analysis and econometrics.
- Learn to review existing literature to understand what experts in the field of economics already know about a given economic issue in order to contribute new knowledge.
- Effectively use modern data visualization techniques and public speaking skills in order to teach an audience something new.
- Build a strong foundational knowledge in ethical writing practice in order to avoid common plagiarism and copyright pitfalls in research and written work.
- Develop teamwork skills, problem-solving skills, and economic thought-processing necessary to tackle any real-world economic issue.