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.

Todd Sears

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 E521, Microeconomic Theory, is offered in both the spring and fall. The E521 offered in the fall is intended for PhD students and is more difficult. The schedules below list the spring semester version of E521 except for the PhD preparation track. Students in that track should E521 in the fall. there is a new numbering for, E511 replaces the old E521 numbering.

Brian Denton

General Econometrics

First Year

  Fall   Spring
  1. E504 Math for Economists   1. E521 Microeconomic Theory
  2. E570 Econometrics   2. E522 Macroeconomic Theory
  3. STAT 51600 Probability   3. STAT 51700 Statistical Inference

Second Year

  Fall   Spring
  1. E574 Times Series / Forecasting   1. E582 Applied Microeconomics II
  2. E581 Applied Microeconomics I   2. E583 Applied Macroeconomics
  3. E600* Readings (2 credits)  

Health Economics

First Year

  Fall   Spring
  1. E504 Math for Economists   1. E521 Microeconomic Theory
  2. E570 Econometrics   2. E522 Macroeconomic Theory
  3. PBHL H514 Health Economics   3. E583 Applied Macroeconomics

Second Year

  Fall   Spring
  1. E574 Times Series and Forecasting   1. E582 Applied Microeconomics II
  2. E581 Applied Microeconomics I  
  3. PBHL E517 Epidemiology  

PhD Prep

First Year

  Fall   Spring
  1. E520** Math for Economists   1. E522 Macroeconomic Theory
  2. E570 Econometrics   2. E583 Applied Macroeconomics
  3. E521** Microeconomic Theory  

Second Year

  Fall   Spring
  1. E571** Econometrics I   1. E582 Applied Microeconomics II
  2. E581 Applied Microeconomics I   2. E577**Computer Methods
  3. M44400 Real Analysis   3. Elective in Math or Statistics

Monetary and Financial Economics

First Year

  Fall   Spring
  1. E504 Math for Economists   1. E521 Microeconomic Theory
  2. E570 Econometrics   2. E522 Macroeconomic Theory
  3. F523 Financial Management   3. F520 Asset Valuation and Strategy
  F540 The Firm in the Capital Market

Second Year

  Fall   Spring
  1. E574 Times Series and Forecasting   1. E582 Applied Microeconomics I
  2. E582 Applied Microeconomics II   2. E583 Applied Macroeconomics
  3. E600* Readings  

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. Students require permission from the Kelley School of Business to take graduate-level finance courses. Student pursuing this option should speak to the MA coordinator about obtaining this permission.


Students with good credentials in any discipline may apply to the program, but successful applicants usually demonstrate an ability in economics or similar area with significant training in mathematics and statistics. Applicants should have completed a bachelors degree from an accredited institution. Ordinarily, applicants should have a overall minimum grade point average of 3.0 on a 4.0 scale in their former course work and in their previous economics courses. Before undertaking graduate study in economics, a student should have knowledge of intermediate-level undergraduate economic theory (E321 intermediate microeconomics and E322 intermediate macroeconomics), statistics (E270), multivariate differential and integral calculus (the IUPUI equivalent M 16500 offered by the mathematics department, and finite mathematics may be admitted on a conditional basis.

For students with English as a second language, a minimum TOEFL score of 79, successful completion of ELS 112, or a minimum IELTS score of 6.5 is required. . Students whose TOEFL score is less than 100 or whose IELTS is less than 7.5 will be required to participate in the English for Academic Purposes (EAP) program at IUPUI. The Office of International Affairs will contact you regarding taking the EAP exam once you are on campus in order to discover if additional coursework in English proficiency is required.

Applicants must submit:
1. an online application. To apply online please Click Here
2. official transcripts of all relevant academic work. If your university participates in electronic transmission of transcripts please have them sent to email
3. three (3) letters of recommendation from people capable of assessing the students potential for graduate study (at least two are normally from former instructors),
4. scores from the Graduate Record Examination (GRE), and
5. a personal statement indicating why they wish to earn an advanced degree in economics.
6. for most international students, TOEFL or IELTS scores


International applicationsfor 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.

For questions please contact Professor Peter Rangazas


The Economics Department now offers a five-year Dual BA/MA program for highly qualified students approaching their senior year in economics. In their senior year the prospective student substitutes several graduate courses for the undergraduate courses that they would normally take as part of their undergraduate curriculum. In the fifth year, the students take many of the same courses that the traditional MA students take in their second year. Students in the dual program complete 30 hours of coursework just as we require of our traditional MA students. At the end of their senior year, they would have met the qualifications for the BA degree if they should elect to discontinue.  MA

The requirements to enter the BA/MA program at the end of the junior year are a cumulative undergraduate GPA of at least 3.3, and a GPA in their major of at least 3.5 overall at the end of their junior year. In addition, students must complete the Verbal Reasoning, Quantitative Reasoning, and Analytical Writing portions of the Graduate Record Exam (GRE) and provide three letters of recommendation from faculty that can attest to the student's potential to successfully complete the MA portion of the program. 

Prior to entering the MA portion of the program at the beginning of the student's senior year, the applicant is expected to have passed the following courses:

• E201: Introduction to Microeconomics

• E202: Introduction to Macroeconomics

• E270: Introduction to Statistical Theory in Economics and Business

• E321: Intermediate Microeconomic Theory

• E322: Intermediate Macroeconomic Theory

• At least one elective from Economics at the 300 level or above.

• MATH 16500: Analytic Geometry and Calculus I

Once the student is admitted to the dual program they will take E504 (Mathematics for Economists) in place of E375 (Introduction to Mathematical Economics), and E570 (Fundamentals of Statistics and Econometric) in place of E470 (Introduction to Econometrics). In addition, they will take E406 (Senior Seminar) during their senior year. This replaces E582 (Topics in Applied Microeconomics II)  in the traditional MA program.

Applications must be received by July 1st of the year in which the applicant is beginning their senior year. Applicants that have not attended IUPUI and have not received a baccalaureate degree in economics from another institution are also eligible to apply but they must document their completion of the course requirements listed above.

If you are not yet a junior but would like to prepare for the program, we recommend that you complete E201 and E202 by the end of your sophomore year and have also established a competency in mathematics equivalent to MATH M11800. In the junior year, you should take E270, E321, E322, at least one 300-level or above elective in economics, and M16500. Below is a list of courses required to complete the MA portion of the program:

For more information please contact Professor Peter Rangazas,, CA519.