Department of Economics
University of Maryland
College Park, MD 20742

Master of Professional Studies
Program in Applied Economics

Dr. John Straub, Program Director
Straub@econ.umd.edu

College Park location
1102 Morrill Hall
Program Coordinator:
Stephanie Bergwall
(301) 405-3557
CPmasters@econ.umd.edu

Washington, DC location
1400 16th Street, NW
Suite 140
Washington, DC 20036
Program Coordinator:
Eileen Kramer
(202) 525-4308
DCmasters@econ.umd.edu

Program Overview


Degree Overview


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 examples.

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 software.


Program Objectives


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 audience.
  • Measure and evaluate the effectiveness of policy programs using sound econometric techniques.

Cost


As of September 2017, tuition in our program will be $3,250 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 $4,160 per course.  Over the 10-course degree, that is a difference of more than $9,000.

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 $500-$1,000 range.
     
All applicants pay a one-time and non-refundable graduate application fee of $75.


Financial Aid


Our department does not offer fellowships or graduate assistantships to any of the students in our professional master's degree program.
    
Domestic students in our program are eligible for the US Department of Education's Federal Unsubsidized Direct Loans and Federal Grad PLUS Loans.  Some of our students also have their tuition paid, at least in part, by an employer or other 3rd party.  The University's Financial Services Center provides Third Party Billing when the third party requires a bill from the university.  More information about financial aid is available from the University of Maryland's Office of Student Financial Aid
    
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.  More information about financial aid for international students is posted here: https://financialaid.umd.edu/osfa/for_international.html.