The Master of Professional Studies in Applied Economics
provides working professionals with rigorous training in
economic reasoning, formulating and estimating economic
models, and utilizing quantitative methods to evaluate policy
proposals and programs.
The 10-course, 30-credit degree program emphasizes empirical
skills, particularly data analysis and interpretation, with
respect to economic and public policy applications.
Focusing on the application of modern economic tools to the
analysis of public policy questions, the program emphasizes
the role of econometric analysis and economic policy analysis
with a particular focus on real-world policy-relevant
The program provides students with advanced training in
economics that prepares them for policy analysis positions in
the public and private sectors. The policy-oriented curriculum
focuses on all aspects of econometric modeling and
incorporates instruction using STATA and similar statistical
Upon completion of the program, students will:
Understand how to collect, evaluate, understand and
analyze economic data.
Understand and interpret statistical results and
apply empirical evidence to economic arguments.
Articulate and apply standard macroeconomic theories
and models to policy discussion.
Articulate and apply standard microeconomic theories
and models to policy discussion.
Interpret and communicate economic models to a wider
Measure and evaluate the effectiveness of policy
programs using sound econometric techniques.
Tuition is $3,150 per course. Tuition is the same for
both in-state and out-of-state residents, and considerably
lower than the tuition charged by other professional economics
master's degree programs in the Washington, DC area. For
example, tuition in Johns Hopkins' Applied Economics master's
degree program is $4,000 per course. Over the 10-course
degree, that is a difference of $8,500.
Students in our Washington, DC program also pay an off-site
student services fee of $92 per quarter. The on-site student
services fee for full-time students in the College Park
program is $760 per semester.
Students also need to buy textbooks and computer
software. We use the same statistical software (Stata)
in all of our core empirical courses so students only need to
buy it once, and do not need to purchase a different
statistical software package for each course. Most of
our students purchase a perpetual license for "Stata
IC". The license costs $198 and never expires.
Most of our courses require students to have a laptop computer
(not a notebook or tablet!) with at least 1 GB of RAM and at
least 5 GB of free space available on the hard drive.
The cheapest laptop computers that meet these minimum
specifications can be purchased for under $300. Of
course more durable computers with more than the bare minimum
specifications will be more expensive. It should not be
difficult to find a laptop that is more than adequate in the
All applicants pay a one-time and non-refundable graduate
application fee of $75.
Our department does not offer fellowships or graduate
assistantships to any of the students in our professional
master's degree program.
After submitting their completed application, international
applicants who require a student visa will be asked to
complete a "Certificate of Finances" form. The form is
designed to verify that international applicants have the
resources necessary to finance their pursuit of our degree if
they are accepted and choose to enroll.