Economics


Masters of Arts in Economics

Tarun Dadoo

Master of Arts in Economics

The Master of Arts program in Economics serves two audiences. Those who view the M.A. as their terminal degree obtain the training in analytic and quantitative skills that prepares them well for a career in business, government, or a nonprofit organization. Others find the M.A. useful as a stepping stone for further education. Students acquire or update the skills necessary to pursue a Ph.D. in economics, or obtain an economics foundation that enriches doctoral-level studies in business, finance, marketing, law, planning, or public policy. Classes are demanding, but taught in a nurturing and friendly environment that encourages student-faculty and student-student interaction within and outside of the classroom. We offer our classes in the evening to accommodate the schedules of those who work elsewhere while pursuing their education. Students can complete the program on either a full-time or part-time basis. In either case, courses are scheduled to allow timely completion of the program.

The Students

Students from the U.S., China, India, Kyrgyzstan, Mexico, Nepal, Russia, Thailand, and Turkey have enrolled in our program. Approximately a third of our students work full-time in private industry or government while the others work part-time or are full-time students. About half of the graduate students are women. Our students hold undergraduate degrees in Economics, Business, Engineering, Mathematics and Political Science.
Almost every student has been successfully placed shortly after graduation. Those seeking a Ph.D. in Economics and related fields such as Business and Finance have gone on to universities such as Chicago, Cornell, Indiana, Iowa, North Carolina, Rutgers, UC-San Diego, and Virginia Tech. Other graduates have taken jobs with employers such as the Federal Home Loan Bank Board, the Indianapolis Department of Commerce, the Indiana State Budget Agency, the IU Medical Center,  Pedcor Bancorp, Spiegel, Inc., Union Federal Savings Bank, the Veterans Administration Medical Center, and Walker Research.


 

MASTERS in APPLIED ECONOMICS


The department offers four concentrations in the MA program.  Each concentration requires 30 hours of coursework, including 6 hours of electives outside of economics.  The General Econometrics concentration is designed to give students general skills in interpreting and analyzing data that are suitable for a wide variety of jobs in business and government.  The concentration in Health Economics prepares students for work in the health industry and for private and government research positions that examine various impacts of health on the economy.  The third concentration, PhD Prep, prepares students to enter a PhD program in economics by emphasizing more theoretically rigorous courses and fewer applied courses.  The final concentration is in Monetary and Financial Economics.

The course schedule for each concentration is given below.  Courses are three credits unless indicated otherwise.  A course designated with * is recommended but is not required, a course designated with ** is a PhD level course.  Note also that there is a new numbering for Microeconomic Theory, E511 replaces the old E521 numbering.

General Econometrics

First Year
Fall Spring
1.  E504 Math for Economists 1. E570 Econometrics
2. E522 Macroeconomic Theory 2. E583 Applied Macroeconomics
3. STAT 51600 Probability 3. STAT 51700 Statistical Inference

Second Year
Fall Spring
1. E511 Microeconomic Theory 1. E581 Applied Microeconomics I
2. E574 Times Series and Forecasting 2. E582 Applied Microeconomics II
3. E600* Readings (2 credits)

Health Economics

First Year
Fall Spring
1.  E504 Math for Economists 1. E570 Econometrics
2. E522 Macroeconomic Theory 2. E583 Applied Macroeconomics
3. PBHL H514 Health Economics 3. E600* Readings (2 credits)

Second Year
Fall Spring
1. E511 Microeconomic Theory 1. E581 Applied Microeconomics
2. E574 Times Series and Forecasting (Topics in Health Economics)
3. PBHL H517 Epidemiology 2. E582 Applied Microeconomics II

PhD Prep

First Year
Fall Spring
1. E520** Math for Economists 1. E570 Econometrics
2. E522 Macroeconomic Theory 2. E583 Applied Macroeconomics
3. STAT 51900 Probability Theory 3. E577**Computer Methods

Second Year
Fall Spring
1. E521** Microeconomic Theory 1. E581 Applied Microeconomics I
2. M44400 Real Analysis 2. E582 Applied Microeconomics II
3. E571*,** Econometrics I

Monetary and Financial Economics

First Year
Fall Spring
1. E504 Math for Economists 1. E570 Econometrics
2. E522 Macroeconomic Theory 2. E583 Applied Macroeconomics
3. F523 Financial Management 3. F520 Asset Valuation and Strategy     F540 The Firm in the Capital Market

Second Year
Fall Spring
1. E511 Microeconomic Theory 1. E581 Applied Microeconomics I
2. E574 Times Series and Forecasting 2. E582 Applied Microeconomics II
3. E600* Readings (2 credits)
Notes:  F520 and F540 are 1.5 credits each.  Students with a background in finance may be eligible for a more advanced finance sequence-F520/F540 in the Fall and then International Finance F570/F571 in the Spring.
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Admissions

Students with superior credentials in any discipline may apply to the program, but successful applicants usually demonstrate an ability in economics or other areas with significant training in mathematics. Applicants must submit an online application, official transcripts of all relevant academic work, three letters of recommendation from people capable of assessing the student’s potential for graduate study (at least two are normally from former instructors), scores from the Graduate Record Examination (GRE), and a personal statement indicating why they wish to earn an advanced degree in economics. A Bachelor’s degree from an accredited college or university, with an overall undergraduate grade point average of at least 3.0 (B) and a minimum grade point average of a 3.0 (B) in the student’s undergraduate major is required. Graduate study in Economics also requires knowledge of intermediate-level undergraduate economic theory, differential and integral calculus, and statistics. An applicant whose academic record does not meet the standard in a particular area may be admitted if his or her record is outstanding in other respects.

Foreign applicants are required to take either the Test of English as a Foreign Language (TOEFL) or the International English Testing System (IELTS). The minimum requirements for admission are 79 on the TOEFL or 6.5 on the IELTS. Students with scores of less than 100 on the TOEFL or 7.5 on the IELTS are required to take an on-campus exam for English proficiency prior to their first semester of course work and may be required to take additional classes in English as a second language. We also accept successful completion of ELS 112 in lieu of a TOEFL or IELTS score for admission.

To apply online please Click Here


International applications for admission must be completed, with all supporting documentation received, by April 15th. Domestic applications must be completed, with all supporting documentation received, by July 1st. Applications are accepted for Fall admission only.




Financial SupportPlease visit the Bursar webpage for a tuition and fee estimator.

Support in the form of an assistantship with tuition remission is not available for the Masters program. However, there is occasionally a research project that needs an assistant. If so, it may be possible for you to earn some money in a career-related job or internship. Although there are no guarantees, a number of master’s students have held such jobs in either the summer or during the year.  To compete for such a position, your English and data analysis skills must be strong.  

For questions please contact Professor David Bivin at: dbivin@iupui.edu