Master’s in economics academics
The STEM-designated Master of Science in Economics (MS-Econ) degree incorporates applied learning experiences, flexible elective options, and career coaching to prepare graduates for immediate success in dynamic roles across industries, including government, technology, consulting, and more.
Curriculum
The master’s in economics is a full-time in-person program that requires 30 total credit hours. The program includes a hands-on applied project, as well as core economics courses and electives where you will learn to apply theory and use data analysis tools.
Our focus is on equipping you with the same empirical tools and econometric methods used by active researchers. Rather than just studying textbook models, you will design a research project and answer questions you find meaningful.
Wyatt Brooks, MS-Econ faculty director
Math bootcamp
The MS-Econ degree welcomes students from various stages of life and career, with a variety of academic and professional backgrounds. The optional math bootcamp ahead of the program ensures all students have the opportunity to be fully prepared to succeed.
Sample MS-Econ courses
For the first half of the program, you’ll take core courses in microeconomics, macroeconomics, and data science and econometrics, taught by leading economists with an extensive research record on these topics. A variety of interdisciplinary electives — from market design and public economics to environmental economics, game theory and economic analysis — allow you to make the MS-Econ degree your own. Take a closer look at individual courses through ASU class search.
Understand basic econometric theory, methods, and applications. The first course emphasizes research designs that support causal inference. Topics include fundamentals of OLS estimation and statistical inference, bias, consistency, Monte Carlo simulation, and instrumental variables. Students learn how to estimate these econometric models in Python.
Your second course continues to develop practical knowledge of modern econometric research designs that support causal inference. Topics include regression discontinuity designs, difference-in-differences, fixed effects, panel data with instrumental variables, clustering, and bootstrap methods for calculating standard error. Students learn how to estimate these econometric models in Python.
This series of courses provides a solid background in microeconomic theory. The first focuses on consumer theory, production and cost, perfect competition, games with complete information, and oligopoly. You will obtain the requisite knowledge for understanding applications and as a foundation for empirical analysis. The second course focuses on general equilibrium, games with incomplete information, and topics in information economics, with special emphasis in detailed applications to actual markets and organizations.
Gain the language and tools necessary to understand and analyze macroeconomic phenomena in the domestic and global economy. Your first macroeconomics course places emphasis on the careful interpretation of economic data. You will emerge with the tools to produce analyses of how current events can be expected to affect macroeconomic outcomes.
Introducing students to concepts and tools needed to understand the global economy, the second course emphasizes the interaction between countries in the trade of goods and services and the exchange of financial assets. We will study how exchange rates are determined, how assets flow across countries, why trade deficits occur, and more.
Applied project
Your experience culminates with an individual capstone project, where you’ll apply your newly developed knowledge to investigate a complex economic issue. Working closely with expert faculty, you will develop a targeted research question on a topic that aligns with your personal and professional interests.
By developing your project, students have the opportunity to apply their training and draft a comprehensive research study that answers their chosen question. This project enables our students to showcase their mastery of quantitative problem-solving and effectively demonstrate their expertise as rising talent to future employers.
STEM designation
Our record of excellence and impact attracts motivated, diverse scholars from all over the world: over 120 countries are represented in the W. P. Carey student body alone. As a STEM-designated program, eligible MS-Econ graduates on student visas have access to an Optional Practical Training (OPT) extension for up to 36 months. This longer work authorization term may help international students gain additional skills and experience in the U.S.
Faculty
The W. P. Carey Department of Economics has become well known for its contributions to several fields of economics, including applied microeconomics, macroeconomics, economic theory, environmental economics, public finance, labor economics, and economics of education.