The version of our Master of Science in Applied Economics Program offered on the main campus in College Park is fully in person, with online sections of certain courses being offered only rarely. It operates on the traditional semester-based academic calendar, with new admissions cohorts beginning the program each fall (no spring intake). A given course meets one evening per week from 6:30-9:15 p.m., with a 15-minute break at some point. Effectively this amounts to two 75-minute sessions, with a 15-minute break between them. The College Park program’s traditional semester-based academic calendar permits 15 weekly meetings per semester, with the 15th and final meeting typically being a final exam.
The following table lays out the typical sequence of courses for a full-time student who takes 3 courses per semester in each of their first 3 semesters, and then just a single course in their 4th and final semester. (Students in the final semester of our program are often working at jobs or internships during the day.) Please also see the dropdown notes below the table for information about completing the program faster (16 months instead of 2 academic years) or pursing the degree at a slower pace.
Typical Course Sequence in the College Park Program (2 academic years)
| Fall Semester | Spring Semester | |
| First Year | Initial 3 core courses ECON 641-Microeconomics ECON 642-Macroeconomics ECON 643-Empirical Analysis I | 4th core course: ECON 644-Empirical Analysis II First 2 Field Courses (choose 2) ECON 670-Financial Economics ECON 673-Game Theory/Market Design ECON 674-Economic Analysis of Law ECON 677-International Trade |
| Second Year | 5th core course: ECON 645- Empirical Analysis III Next 2 field courses (choose 2) ECON 675-Environmental Economics ECON 676-Economic Development ECON 683-International Macroeconomics ECON 687-Economic Applications of R Programming | Final field course (choose 1): ECON 672-Program Evaluation ECON 684-Applied Time Series Analysis or any one of the “first year” spring field courses not yet taken |
Note: ECON 671-Health Economics is typically only offered in the summer (see below).
View individual course descriptions and sample syllabi.
The final semester with just a single course leaves time for job search and work at a job or internship.
International students (F-1/J-1 visas) are usually eligible to work in paid “curricular practical training” (CPT) internships during the summer after their first year (up to 40 hours per week) and during their 2nd academic year (up to 20 hours per week when classes are in session).
International students (F-1/J-1 visas) are also usually eligible to work at paid “optional practical training” (OPT) in the United States after they graduate if they can find an employer. Graduates of our STEM-designated program are usually eligible for a 2-year extension to the usual 1-year of OPT eligibility — so eligible for up to 3 years of OPT after graduation.
All core courses (ECON 641-645) are always offered at least once per year. ECON 641, 642, 643, and 645 are always offered every fall. ECON 644 is always offered every spring. (See the table above.) Students also have the option of taking certain core courses in the summer between their first and second year (see the note below about summer core course options).
However, field course offerings can depend on student demand.
The following field courses would normally be offered every spring: ECON 670, 672, 673, 674, 677, and 684 (see the table above). One or two of these courses might not be offered in a given spring semester if demand is low.
The following field courses would normally be offered every fall: ECON 675, 676, 683, and 687 (see the table above). One of these courses might not be offered in a given fall semester if demand is low.
ECON 671 (Health Economics) is typically offered only in the summer. Students also have the option of taking the following field courses in the summer if they like: ECON 672 (Program Evaluation), 677 (International Trade), 684 (Applied Time Series Analysis). See the note below about summer field course options.
Students with TOEFL/IELTS scores that require them to take an English course during their first semester would take just ECON 641 and 643 in addition to the English course. Students in this situation can take ECON 642 in the summer after their first year, or in the fall of their 2nd year. If they take ECON 642 in the fall of their 2nd year, they will also take ECON 645 and just a single field course. In this case, the student would need to take 2 courses in their 4th and final semester, instead of just 1 course.
Students who are required to take an English Writing course in their 2nd semester would also take ECON 644 and just one field course in addition to the English Writing course. Students in this situation could “catch up” by taking a field course in the summer, or by taking 2 courses instead of just 1 course in their 4th and final semester.
Full-time students who take a course or two during the summer can graduate in December of their 2nd year – just 16 months after their initial enrollment. Graduating early in this way can limit opportunities to take certain courses, and will shorten the time available for job search prior to graduation. Students should consult the program director when planning their course of study.
ECON 642, 644, and (maybe) 645
As noted above, many students who take an English course instead of ECON 642 in their first semester can take ECON 642 in the summer after their first year, or in the fall of their 2nd year.
ECON 644 is also offered in the summer, though students in College Park will typically have completed ECON 644 in the spring of their 1st year.
Given sufficient demand, we may offer a summer section of ECON 645. In this case, students who wish to take a summer course or two and possibly graduate early can take ECON 645 in the summer instead of taking it in the fall of their 2nd year.
Students who have 3 or fewer courses remaining after the summer can graduate after the fall semester of their 2nd year, just 16 months after enrolling. This is 5 months earlier than the usual May graduation after the spring of their 2nd year (21 months after enrolling). However, students who graduate early in this way might lose opportunities to take certain courses (ECON 672 and 684) and will have 5 fewer months to search for post-graduation employers.
ECON 671, 672, 677, and 684
The most common field courses for College Park students to take in the summer are:
ECON 671-Health Economics, which is typically offered only in the summer
and
ECON 677-International Trade, which is typically also offered every spring in College Park
We also offer ECON 672 and 684 in the summer, but these 2 courses are best taken in the spring of a student’s 2nd year, AFTER having already completed ECON 645. ECON 672 and 684 are optional “4th econometrics courses,” which build upon ECON 645 in different ways. Strong students who wish to graduate early can take one of these courses concurrently with ECON 645 in the summer (if ECON 645 is offered in the summer), but that is usually only advisable for strong students with a cumulative 1st year GPA above 3.5.
Certain course sequences are better than others for students who wish to work in private business settings, rather than in government positions, or in other public policy analysis contexts. Students who do choose their field courses with private business applications in mind will also be well-prepared to earn the National Association of Business Economics‘ (NABE) Certified Business Economist (CBE) credential, in addition to our M.S. degree.
Our program has a partnership with the NABE, which makes it possible for the graduates of our program to sit for the NABE’s CBE exam (with a reduced exam fee) without needing to take the NABE’s own courses. The NABE’s CBE credential is something like a “Good Housekeeping Seal of Approval” for economists who work in private business settings, as many of our graduates do. A student membership in the NABE also offers many excellent networking opportunities for our students in the Washington, DC area – even before graduating from our MS program, or earning the NABE’s CBE credential.
Students who wish to prepare for the NABE’s CBE exam after they graduate should consider the following field courses: ECON 670 (Financial Economics), ECON 677 (International Trade), ECON 672 (Program Evaluation), ECON 684 (Applied Time Series Analysis), ECON 673 (Game Theory), ECON 683 (International Macroeconomics), ECON 687 (Economic Applications of R Programming). Note that this is 7 of the 11 field courses offered in our program, and students only need to take 5 field courses to earn our degree. Students wishing to sit for the NABE’s CBE exam after graduation should also plan to do some self-study related to some fields of specialization that they did not explicitly study in the courses they took for credit. Graduates of any good graduate program (like ours) will be in a good position to be lifelong learners who can productively study and learn more on their own well after they complete their formal education.
To be considered a full-time student for international student visa purposes, a student must be enrolled in at least 3 courses every semester, except for the final term. Since the completion of our program requires 10 courses, students can maintain full-time status by following the 3-3-3-1 plan.
All of our courses are in the evening, which makes it easy for our students to work at internships during the day. Taking just a single course makes it even easier for students to work at an internship during their final semester before graduation.
Domestic students are allowed to take fewer courses per semester than called for in the traditional full-time course sequences. They are also allowed to take semesters off if necessary. Please note: domestic students receiving financial aid may be subject to minimum enrollment requirements to maintain financial aid eligibility. Students should consult the program’s director when planning their course of study.
Students on F-1 or J-1 visas must be enrolled full-time (3 courses per semester) for each of the first 3 semesters. F-1/J-1 students are advised to consult with the program director and with the UMD’s International Student and Scholar Services if circumstances like a serious illness necessitate a deviation from the usual full-time enrollment requirement.
The University of Maryland’s Graduate School requires that students be enrolled in at least one course every semester while they are pursuing their degree. Waivers from this policy are routinely granted as necessary. Leaves of absence are also possible under certain circumstances.