Department of Economics
University of Maryland
College Park, MD 20742
Master of Science
Program in Applied Economics
Dr. John Straub, Program Director Straub@umd.edu
College Park location
1102 Morrill Hall
(301) 405-3557 CPmastersfirstname.lastname@example.org
Washington, DC location
1400 16th Street, NW
Washington, DC 20036
(202) 525-4308 DCmastersemail@example.com
Program Ranked #1 in the US
For the 2nd year in a row, our program has been
ranked #1 in the US according to the TFE
Times' 2021 ranking of Top Master of Economics Programs.
The annual ranking of economics master's degree programs is
based on several factors, including graduate salaries, the
undergraduate grades of students in the program, and graduate
employment rates. Our program has been ranked in their
top 5 every year since 2016.
Congratulations to our students and faculty for the
Some online instruction for selected courses in the Fall of
Our program is fundamentally an
in-person program, and will remain so. However, we do
plan to offer some "mostly online" sections of certain core
courses in the Washington, DC version of our program.
Newly admitted students will have the
option of choosing between "mostly in-person" and "mostly
online" sections of the first term courses, ECON 641
(Microeconomic Analysis) and ECON 643 (Statistics). The
"mostly in-person" sections will have weekly in-person class
meetings, but also some online components, including weekly
online discussions. The "mostly online" sections will
have in-person proctored exams in our Washington, DC suite,
but all other class meetings will be online.
Students should not assume that it
will be possible to complete our whole program online.
We are fundamentally an in-person program. All
instruction in the College Park version of our program will be
done in person. But we do expect to offer some online
course options for selected core courses in our program going
We will communicate with our students
appropriately if it becomes necessary to adjust our
plans. Adjustments could become necessary because of
student preferences, the public health situation, and/or
policy decisions made by the university, and by federal,
state, and local authorities. We will continue to
prioritize the health and safety of our students, instructors,
Tuition frozen at 2017 level through 2020/21 Academic Year
Our program's tuition has
been $3,250 per course since 2017. Despite approval for
a tuition increase, we decided to keep tuition frozen at
$3,250 per course through the 2020/21 academic year. Our
tuition will increase to $3,400 per course starting fall 2021,
however, this rate remains significantly lower than the
tuition charged by most comparable programs.
As many students and their families
suffer financial hardship, we are doing what we can to keep
the investment in our program's training both feasible and
Transitions into STEM-designated Master of Science Program
The Board of Regents of the
University of Maryland System voted on April of 2019 to
approve a proposal to convert our program into a STEM-designated
Master of Science program. The proposal was also
been approved by the Maryland Higher Education Commission, and
has been in effect since the fall of 2019.
One practical implication of the STEM
designation is that international graduates of our program are
now eligible for a 2-year extension to the standard 1-year
Optional Practical Training in the U.S. Being eligible
to stay in the US for up to 3 years after graduation makes our
graduates even more attractive to potential OPT sponsors. “We
have hired students from the University of Maryland’s Applied
Economics master’s program since its inception. The STEM
designation gives Optimal and other potential employers a
viable opportunity to hire highly qualified international
graduates with scarce skill sets.” -- Mark
Turner, CEO of Optimal Solutions Group.
“The program’s curriculum has always
emphasized the quantitative econometric approach that’s now
officially recognized by the STEM designation.” -- John
Shea, Associate Chair and Director of Graduate Studies in
the Department of Economics.
The program’s curriculum will
continue to evolve in this direction, with new courses in
development, including a course on economic applications of
Python and R programming.
Program's Career Placement Discussed in Washington Post
Dr. Straub was quoted in a feature about connecting students
and graduates with jobs. In addition to the career fairs
that our program organizes for students and alumni, Dr. Straub
also noted the valuable networking opportunities. Many
of the students and PhD instructors already work at exactly
the same kinds of places that recruit our students.
These include government agencies, as well as private
consulting firms, and international organizations like the
World Bank and International Monetary Fund.
Dr. Straub was also interviewed for the Post's Fall
Guide to Graduate Education, with a focus on the
program's transition to online instruction since March of
2020. "All of our courses feature a combination of real
time synchronous instruction, as well as some asynchronous
instruction like pre-recorded videos and online discussion
boards. The students almost universally prefer a
combination. They want some live interaction with the
instructor and fellow students. But they also like the
videos and other asynchronous material that they can work with
on their own schedule."
Lecture from IMF Board Member
21st, Dr. Liviu Voinea gave a guest lecture in our
program's International Macroeconomics and Finance course
(ECON 683). Dr. Voinea is the Romanian Board Member of
the IMF, and a former Deputy Governor of the Romanian National
Dr. Voinea's areas of expertise dovetail nicely with the
content of ECON 683, including the global crisis and policy
responses in Central and Eastern Europe; trade-offs in modern
central banking (in particular financial stability vs. price
stability); issues related to global financial stability;
euro-area and US subdued inflation; and the weaker link
between wages and inflation (post-crisis Phillips Curve).
Dr. Voinea's recently published e-book, “One Hundred Years of
Honesty: Recovering the Lost Memory of the Romanian Economy”
has relevance for all economies in the Euro Zone.
We look forward to many more guest lectures from the Maryland
economics department faculty, and from other distinguished
with the National Association for Business Economics
The NABE is a professional organization for people who apply
economics in business settings. The NABE offers a Certified Business
Economist (CBE) credential for professional economists.
Economists can take CBE prep courses from the NABE to prepare
for their CBE exam. But the NABE also partners with
academic programs that offer relevant curricula.
The NABE's academic partners now include our program!
Students who have completed certain courses in our program's
curriculum are now able to take the NABE's CBE exam without
taking NABE's own courses, and with a discounted exam fee).
"Our program has long encouraged our students to become
members of the NABE and to participate in the many excellent
events that they sponsor in the Washington, DC area. The
networking opportunities that come with NABE membership have
already been valuable to many of our students. Now
graduates who also earn the CBE certification in addition to
our master's degree will have even more advantages on the job
market." -- Dr. John Straub, Director of the M.S.
Program in Applied Economics at the University of Maryland.
to our Spring 2019 Graduates
department held it's Spring 2019 Commencement Ceremony on
Friday, May 24th in the Xfinity Center on our main campus in
The commencement speaker was David Schaeffer, an alumnus of
our department, and the founder and CEO of Cogent
Communications—one of the world’s largest internet
providers. At the heart of his remarks for our
graduates: "There is nothing more rewarding than learning new
things and the key to anyone’s success is continued
There were 23 graduates in our master's program's spring 2019
graduating class. Ten of the 23 graduates were
international students from countries around the globe,
including China, The Bahamas, Costa Rica, India, and
Members of this spring's graduating class will be working as
economic analysts in private industry as well as government
agencies like the Bureau of Labor Statistics, and
non-governmental organizations like the World Bank, and the
American Institute for Research.
program has begun preparing for our next career placement
event on September 29th. Due to the Covid-19
pandemic, the event will be online.
Participating employers at previous events have included:
Bipartisan Policy Center; Econometrica, Inc.; Fannie Mae;
Federal Deposit Insurance Corporation; Federal Housing Finance
Agency; Federal Reserve Board of Governors; Northwestern
Mutual; Office of Inspector General, Office of Evaluation and
Inspections; Optimal Solutions Group; Resolution Economics;
Summit Consulting; The Urban Institute; U.S. Bureau of the
Census; U.S. Consumer Financial Protection Bureau; U.S.
Department of the Treasury; U.S. Securities and Exchange
Commission; U.S. Department of Homeland Security/FEMA.
We usually host similar events every fall in College Park
and every spring in Washington, DC.