Applied Economics and Finance

The Applied Economics and Finance undergraduate program at the University of California is designed to equip students with a comprehensive understanding of economic principles, financial analysis, and quantitative skills essential for careers in finance, policy analysis, and business strategy. The curriculum combines rigorous coursework in microeconomics, macroeconomics, econometrics, and financial theory with practical applications to real-world economic and financial problems. Students will gain proficiency in data analysis, statistical methods, and economic modeling, enabling them to interpret market trends, assess economic policies, and make informed financial decisions. The program emphasizes critical thinking, analytical skills, and the ability to apply economic concepts to solve complex issues faced by governments, corporations, and financial institutions. Through a blend of theoretical knowledge and experiential learning—including internships, case studies, and collaborative projects—students are prepared for dynamic careers in investment banking, financial consulting, economic research, and public policy. The interdisciplinary approach encourages an understanding of global economic systems, behavioral finance, and the role of government regulation in markets. Graduates of the Applied Economics and Finance program will be well-equipped to analyze economic data, develop financial strategies, and contribute meaningfully to decision-making processes in both private and public sectors. The program also provides a solid foundation for students interested in graduate studies or professional certifications such as CFA or CPA. With access to state-of-the-art resources, distinguished faculty, and a vibrant campus community, students will have the opportunity to develop their intellectual, technical, and professional skills in a supportive and dynamic environment. Overall, the Applied Economics and Finance program prepares students to become analytical, innovative, and ethical professionals capable of addressing the economic and financial challenges of the modern world.

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

The Bachelor of Arts in Applied Economics and Finance at the University of California offers students a comprehensive understanding of economic theory, quantitative analysis, and financial management. The program is designed to equip students with the skills necessary to analyze complex economic problems, interpret financial data, and make informed decisions in various business and public sector contexts. The curriculum combines core coursework in microeconomics, macroeconomics, and econometrics with specialized courses in finance, such as corporate finance, investment analysis, and financial markets. Students also have opportunities to gain practical experience through internships, research projects, and collaborations with industry partners. The program emphasizes critical thinking, analytical skills, and ethical decision-making, preparing graduates for careers in finance, consulting, government agencies, or pursuing graduate studies. Students benefit from state-of-the-art facilities, distinguished faculty members with expertise in economic research and financial analysis, and a vibrant academic community that fosters innovation and collaboration. The program typically requires the completion of foundational coursework, electives to deepen knowledge in specific areas, and a capstone project or thesis to synthesize learning. Graduates of the Applied Economics and Finance program are well-positioned to succeed in competitive job markets and to contribute meaningfully to economic development and financial stability. The university's strong network of alumni and industry connections provides valuable opportunities for professional growth and career advancement. Overall, the program aims to nurture analytical thinkers, responsible professionals, and leaders in economics and finance sectors.