Our STEM-designated Master of Science in Applied Economics Program, top ranked in the D.C. area and the country, provides working professionals with rigorous training in quantitative economics and applied econometrics. The 10-course, 30-credit program emphasizes empirical skills, with an emphasis on application to real-world policy-relevant examples. The program prepares students to work as analysts in the public, private, and nonprofit sectors.
We offer both an in-person and online master of applied economics program.
Students can pursue our degree in person on the University of Maryland’s main campus in College Park, Maryland (in the D.C. metro area, less than 10 miles from the White House). Students can also pursue an online version of our program, which can be completed entirely remotely. The weekly class meetings in our online courses are synchronous Zoom meetings (Washington, D.C. time zone). None of our program’s courses are asynchronous or self-paced.
The same curriculum is offered in both versions of our master of applied economics program, but applicants must choose one version to enroll in.
Upon completion of the master of science in applied economics program, students will:
- Understand how to collect, evaluate, interpret, 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.
International students are welcome to enroll in either version of our program, however only the in-person College Park program can sponsor an F-1 visa.
Domestic students are welcome to enroll in any version of our program. Many students prefer in-person instruction, and the campus has myriad transit options and free parking after 4:00 p.m., connecting student commuters from all over the D.C. area.
The online program offers maximum flexibility to working professionals. The quarter-based academic calendar our online program uses is also more flexible, and more conducive to part-time study while working during the day.
In the College Park location, our program operates on the traditional semester-based academic calendar, with long breaks in the summer and winter (though our College Park students can take online summer courses if they wish).
The online program operates on a quarter-based academic calendar, rather than the traditional semester-based academic calendar. This tends to be more flexible and more conducive to pursuing the degree while working full-time during the day, and taking one or two courses at a time in the evening.
Online students who take 2 courses per quarter can complete the entire 10-course degree in 5 quarters – just 15 months. Students in College Park typically graduate after 4 semesters (21 months), though our College Park students can graduate in just 16 months if they take a course or two during the summer.
The in-person program enrolls students in the fall semester, while students can begin the online program either in the the fall (late August/early September) or spring (late February/early March). Spring enrollment is not possible in our in-person programs.
We cap class sizes around 30 students per section, including online sections to keep the student-teacher ratios reasonable. Over the last few years, average enrollment in the core courses has been between 20 and 30 and between 12 and 20 for field courses. We encourage applicants to compare this with class size information from other programs they consider. The small class sizes in our program make it possible for our faculty to provide meaningful interaction and feedback.
The traditional semester-based academic calendar in College Park (UMD main campus location), with long breaks in the winter and summer, is better suited for full-time students.
Some domestic students begin as full-time students in our College Park location, with 3 courses in each of the first 2 semesters. Many of them transition to part-time students after their first year, working during the day, and taking just 2 courses per semester in their 2nd year.
International students on F-1 visas are required to maintain a full-time load (3 courses per semester) unless they are in their final semester with fewer than 3 courses remaining to complete the program.
Virtually all American PhD programs in economics accept students with just a bachelor’s degree. If your undergraduate major was economics, taking more math courses would probably be better preparation for a PhD in economics than taking more economics courses. Admissions committees in American PhD programs would like to see good grades in multivariable calculus, linear algebra, probability theory, and real analysis. They would also like to see some evidence of an aptitude for research (usually a letter of recommendation from a PhD economist who can say you were a productive research assistant with the potential to be a good researcher in your own right). If your undergraduate major was not economics, our first 5 Core Courses could be helpful in preparation for a PhD program in economics or public policy.
While PhD prep was not the primary consideration in mind when we designed our program’s curriculum, we do have alumni who have enrolled in PhD programs after completing our master’s degree or our graduate certificate. Brian Bonis and Leo Zucker are examples. You can read about their experience on the Alumni Profiles page.
Professional development of applied economists was the primary consideration when our program’s curriculum was designed. Our program is more focused on preparing people to be economic analysts rather than academic researchers or teachers. Most of our students begin working as applied researchers and analysts well before they even graduate from our program.
Our program devotes significant resources to the administrative and academic support for our applicants and students.
Dedicated program coordinators for the in-person College Park program and the online program provide personal support from admissions through enrollment and graduation. They help our students navigate the university bureaucracy, and take advantage of the university’s wider student-services infrastructure, including International Student and Scholar Services, and the UMD Career Center, among others.
Our program directors, Dr. John Straub and Dr. Filipe Lage, serve as academic advisers and contacts about any aspect of the program. Dr. Straub directs the online program while Dr. Lage directs the in person program.
The PhD economists on our program’s faculty are available in weekly office hours via Zoom, and by appointment. Each course is also supported by a teaching assistant. The TAs are PhD students from our department. They help our course instructors with grading and are also available to help students during weekly office hours – in addition to the instructor’s office hours.
As with many aspects of our program, we encourage applicants to compare the administrative and academic support offered by our program with the support offered by other programs they are considering.