MSc in Economics

The Department of Economics offers a program leading to a Master of Science in Economics that provides a deep understanding of the theoretical and empirical foundations of economics and the quantitative tools required for research careers in economics. The department offers two-degree program tracks:

• M.S. in Economics: Course-Based track
  An eight-credit program that can be completed in one year, without a thesis.
• M.S. in Economics: Research-Based track*
  A twelve-credit program to be completed in two years, with a master's thesis.

*Research-based track applications are only available to enrolling students and must be submitted in the spring of their first year.

Learning Objectives

The master of science (course-based) will allow students to do the following:

• Use fundamental economic concepts such as scarcity; incentives; trade‐offs; opportunity costs; comparative advantage; price system; efficient allocation of resources; market failures; government failures; and scope of fiscal, monetary, and regulatory policies.
• Both apply economic theory to a range of economic issues across a variety of fields and economics subdisciplines and also effectively communicate their analysis.
• Use statistical and econometric methods—including data gathering, data analysis, and hypothesis testing—in applied empirical work.
• Apply multivariate calculus and linear algebra to the study of economic issues, and use mathematical tools to derive results in economic theory and econometrics.
• Read, understand, and replicate research papers in economics.

The master of science (research-based) will allow students to do the following:

• Use fundamental economic concepts such as scarcity; incentives; trade‐offs; opportunity costs; comparative advantage; price system; efficient allocation of resources; market failures; government failures; and scope of fiscal, monetary, and regulatory policies.
• Both apply economic theory to a range of economic issues across a variety of fields and economics subdisciplines and also effectively communicate their analysis.
• Use statistical and econometric methods—including data gathering, data analysis, and hypothesis testing—in applied empirical work.
• Apply multivariate calculus and linear algebra to the study of economic issues, and use mathematical tools to derive results in economic theory and econometrics.
• Read, understand, and replicate research papers in economics.
• Understand advanced econometric methods currently used in applied empirical work.
• Form a specific hypothesis or question that is the basis for a research project or paper.
• Carry out a literature review of a specific area of economics.
• For students carrying out empirical thesis research:
• Develop economic models underlying economic research.
• Collect and analyze data that is relevant for carrying out economic research.
• Develop econometric models.
• Estimate these models and effectively interpret the results.
  • Develop economic models underlying economic research.
  • Collect and analyze data that is relevant for carrying out economic research.
  • Develop econometric models.
  • Estimate these models and effectively interpret the results.
• For students carrying out theoretical thesis research:
• Develop economic models underlying economic research.
• Effectively analyze these models with the goal of evaluating the specific hypothesis or question that is the basis for a research project or paper.
  • Develop economic models underlying economic research.
  • Effectively analyze these models with the goal of evaluating the specific hypothesis or question that is the basis for a research project or paper.
• Demonstrate writing and oral skills to present, explain, and defend original economic research through a written thesis and an oral thesis defense.