Master of Science in Applied Economics

Program Overview

Our STEM-designated Master of Science in Applied Economics Program 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 in-person and online versions of the master of applied economics program.

Students can pursue our degree in person at one of 2 different locations in the Washington, DC area:

  • Downtown Washington, D.C. near Dupont Circle, or
  • On the University of Maryland’s main campus in College Park, Maryland (also within the D.C. metro area, less than 10 miles from the White House)

Students can also purse an online version of our program:

The online version of our program can be completed by students almost entirely remotely. Proctored in-person final exams are required in each of the first 4 core courses (ECON 641, 642, 643, and 644). All other courses in our program are fully online, without any in-person requirements. The weekly class meetings in our online courses are synchronous Zoom meetings (Washington, DC time zone). None of our program’s courses are asynchronous or self-paced.

The same curriculum is offered in all three 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.

If you are an international student who needs an F-1 Visa, you can only apply for fall enrollment in our College Park location. We do not sponsor F-1 visas for students in our D.C. location or for the online program, and we do not offer spring term enrollment in our College Park location.

Applicants who are already in the US on a visa that permits study (G4 or H4 visas, for example) are welcome to apply to any version of our program.

Domestic students are welcome to enroll in any version of our program, though many domestic students prefer the Washington, D.C. or online program. Most of our domestic students work during the day and our Dupont Circle location is usually more conveniently located relative to their jobs, while the online program offers maximum flexibility to working professionals. The quarter-based academic calendar our D.C. and online programs use is also more flexible, and more conducive to part-time study while working during the day.

Most of the domestic students in the College Park version of our program happen to live in or near College Park, or prefer to enroll as a full time student without a full-time day job, at least during their first year.

We do not sponsor F-1 visas in our Washington, D.C. location.  Students on an F-1 (or J-1) visa are only eligible to apply for fall enrollment on our main campus in College Park (also within the DC metro area, less than 10 miles from the White House).  About half the students in our College Park location are international students.  About half are domestic.  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 summer courses in DC if they wish).

Most of the students in our Washington, D.C. location are domestic students, although some international students also enroll there if they are on non-UMD sponsored visas that permit study in the US (G-4 and H-4 visas, for example). The Washington, D.C. version of the program operates on a quarter-based academic calendar, rather than the traditional semester-based academic calendar. The quarter-based calendar in Washington, D.C. 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.

Students who take 2 courses per quarter in our Washington, D.C. location 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.

Both in-person programs start in the fall (late August/early September). Spring enrollment is not available for our in-person programs. Students can begin our online program in the fall (late August/early September) or the spring (late February/early March).

The online program is similar to our Washington, DC program. It follows the same 12-week quarter term academic calendar, and cannot accept students on F1/J1 visas.

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. In the calendar year 2023, the average enrollment in our core courses was 20.4 students. The average enrollment in the elective field courses was 12.5 students. 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 in College Park and Washington, DC provide personal support from admissions through enrollment and graduation, to students in both the in-person and online master of applied economics programs. 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 Director, Dr. John Straub, serves as an academic adviser and a more general contact about any aspect of the 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.