Applied Economics and Finance

The master of science (M.S.) program in applied economics and finance is designed for students who want analytical graduate training that prepares them for careers in business, government, international and domestic banking, consulting firms, and nonprofit organizations. The program is unique in its focus on graduate-level economics training for practical applications and its emphasis on communication skills. The curriculum stresses the application of microeconomic and macroeconomic concepts, statistical techniques, finding and using data sources, working out substantial practical applications, developing writing and reporting skills, and presenting material orally before an audience. The program differs from typical master of business administration (M.B.A.) programs by preparing students to meet the increasing technical demands of private- and public-sector employers through comprehensive coursework in economic analysis.

Past graduates of this program have gone on to successful careers in the private and public sectors with placements at a diverse range of companies and institutions, including Cisco Systems, Seagate Technology, Google, Sony Computer Entertainment, Plantronics, Wells Fargo, all of the big four accounting firms, McKesson Corp., Pepsi Corp., Visa, Square Trade, the California Franchise Tax Board, Guardian News (U.K.), Blue Cross, the World Bank, Stanford University, and the Bank of Japan. Other graduates have gone on to earn Ph.D.s in economics.

M.S. students are required to take the following classes starting in the fall quarter of the academic year they enroll in the program. Students may also take additional classes if they desire.

*Note: M.S. students are strongly encouraged to enroll in Econ 186, a pre-fall math course, which is highly beneficial to students’ success in the program. Econ 186 is offered as an accelerated short course before the start of fall quarter.

Electives

Students may satisfy the elective requirements by taking approved courses within the Economics Department or from another discipline. The department has assembled a list of pre-approved masters electives (curricular offerings are subject to change annually). Students will need to file a departmental petition for review and approval of courses that are not on the pre-approved elective list.

Pre-Approved M.S. Electives

*As it is a lower-division course, CMPS 5P, does not count toward the 35 credits required by the university to obtain a masters degree. However, since it broadens the skill-set of students in the program, we allow for it as a masters elective to satisfy department requirements. Before enrolling in this course, students should take care to ensure that they will have 35 eligible credits for graduation.

Students must pass a comprehensive capstone requirement to receive their degree. These comprehensive examinations, one in “applied economics” and one in “finance,” will take place during the second week following spring graduation. September examination dates are scheduled for students who do not pass the June examinations. Further attempts at passing the comprehensive examinations will be approved by the master's committee on an appeal-only basis, with appeals only given for extraordinary or extenuating circumstances. 

For those students that have specific research interests and have distinguished themselves in their coursework, a faculty-sponsored research project and thesis may replace the comprehensive examination requirement. This track requires approval of a faculty adviser and the master's degree committee prior to February 1 of the student’s initial winter quarter.

Requirements

• Transcripts. You may upload a scanned copy of your unofficial transcripts to your online application, or send official copies to the Graduate Application Processing address
• Statement of Purpose. Recommended length is a concise 2-4 pages, single-spaced.
• The Personal History Statement is required of all applicants.This statement will be used in conjunction with your application for graduate admission and financial support. Please note that the Personal History Statement should not duplicate the Statement of Purpose.
• A résumé is required for some applications and optional for others.
• All recommendation letters are required to be submitted electronically through the online application.  You must register a minimum of three recommenders, and as many as five, via the Recommendations page of the online application.
• The application fee for the 2016-17 academic year is $105 for domestic applicants and $125 for international applicants. This fee can be paid by credit card or e-check (the e-check option is only available if you have a U.S. bank account). 
• Official GRE scores must be sent from the Educational Testing Service (ETS) to UC Santa Cruz, School Code 4860 (no department code necessary).  Official scores must be received prior to the application deadline.
• If you are a non-native English speaker you will be required to take an English language competency exam.  UC Santa Cruz accepts the TOEFL or IELTS test.  Official scores must also be sent from the testing service to UC Santa Cruz, School Code 4860

Scholarships

• Regents Fellowships. A limited number of these fellowships are awarded to first-year graduate students in master's and doctoral programs. These awards provide a stipend and/or payment of university fees except non-resident tuition.
• Global Education