Applied Economics

Applied Economics at Georgetown University offers students a comprehensive and rigorous education in economic theory, quantitative methods, and real-world applications. The program is designed to equip students with the analytical skills necessary to understand and address complex economic issues faced by governments, businesses, and organizations. Through a combination of coursework, research opportunities, and practical experiences, students gain a solid foundation in microeconomics, macroeconomics, econometrics, and specialized areas such as public policy, international economics, and development economics. Our curriculum emphasizes the practical application of economic principles to policy analysis, decision-making, and strategic planning, preparing graduates for careers in government agencies, consulting firms, financial institutions, and international organizations. Students also have access to distinguished faculty members who are experts in their fields and actively involved in research that influences economic policy and practice. The program encourages critical thinking, data analysis, and effective communication skills, ensuring graduates can interpret economic data accurately and present findings compellingly. Additionally, students can participate in internships, seminars, and collaborative projects, fostering an environment of experiential learning. Whether you aim to enter the workforce directly or pursue further graduate studies, the Applied Economics program at Georgetown provides the knowledge and skills necessary to succeed in today's dynamic economic landscape. Join us to develop a robust understanding of economic theories, enhance your analytical capabilities, and contribute valuable insights to solve real-world economic challenges.

To complete the Applied Economics Program, students are required to successfully complete 10 courses (30 credits) offered in the program.

The program commences with a mandatory, two-week course on mathematical methods conducted in August, shortly before the formal program begins in the fall semester. The objective of this course is to review the basic techniques used in theoretical and empirical economics. No credits are granted for this course.

Full-time students take four required core courses – microeconomics, macroeconomics, econometrics, and data analysis – in the fall semester. These core courses are prerequisites for subsequent elective courses in areas of applied economics where the fundamental skills acquired in the core courses are employed. The elective courses represent areas of application in applied economics covering a large range of topics.

Students complete the minimum of 30 course credits by taking the four required courses and six elective courses. The four core courses are taught each fall, and the elective courses are taught in the spring and summer terms.

A full-time student should be able to complete the 30 course credits in one year. By taking the appropriate core courses in consecutive fall semesters, a part-time student should be able to finish in two years. Both approaches involve taking courses in the summer sessions.

The fall semester at Georgetown University generally runs from late August to mid-December. The spring semester begins in early January and ends in early May. The summer term for the Applied Economics Program starts in mid-May and ends in mid-August.

In addition to the four required core courses, students take six elective courses in their spring and summer semesters. The following electives are typically offered:  

• Microeconometrics  
• Macroeconometrics 
• Industrial Organization
• Empirical Industrial Organization
• Decision and Game theory
• Public Economics 
• International Trade 
• Health Economics 
• Energy Economics and Policy 
• Development Economics 
• Labor Economics 
• Environmental Economics 
• Monetary Theory and Policy 
• International Finance
• Open Economy Macroeconomics 
• Financial Economics
• Law and Economics 
• Behavioral Economics and Finance
• Business and Public Sector Forecasting
• Program Evaluation

The core courses are generally taught by full-time faculty members in the Department of Economics. Elective courses are typically taught by economists with academic expertise and professional experience in the relevant fields.

Typically, full-time students take the four core courses in the fall semester, three elective courses in the spring semester and three courses in the summer semester, although some students take four elective courses in the spring semester and two in the summer semester. Part-time students have a variety of options, but typically take two core courses (microeconomics and macroeconomics are recommended) in their first fall semester, two elective courses in the first spring semester, one or two elective courses in the summer semester, the two remaining core courses in their second fall semester, and the rest of their elective courses in the second spring and summer semesters.

Classes meet for two and a half hours each week during evenings, late afternoons or weekends, to meet the needs of part-time and full-time students. 

CORE COURSES

• ECON 551-MICROECONOMICS
• ECON 552-MACROECONOMICS
• ECON 553-ECONOMETRICS
• ECON 554-DATA ANALYSIS

ELECTIVE COURSES

The Applied Economics Program typically offers the following elective courses in the spring and summer semesters: 

• Microeconometrics  
• Macroeconometrics 
• Industrial Organization
• Empirical Industrial Organization
• Decision and Game theory
• Public Economics 
• International Trade 
• Health Economics 
• Energy Economics and Policy 
• Development Economics 
• Labor Economics 
• Environmental Economics 
• Monetary Theory and Policy 
• International Finance
• Open Economy Macroeconomics 
• Financial Economics
• Law and Economics 
• Behavioral Economics and Finance
• Business and Public Sector Forecasting
• Program Evaluation

Elective courses are generally taught by economists who work in government, international organizations, think tanks, consulting firms or other research positions in the Washington, D.C. area. These faculty members are highly experienced professionals who have deep expertise in the substantive areas in which they offer courses.

The elective courses typically entail textbook readings, readings from professional and academic journals, review of policy papers, and significant empirical work.

• Application Form
• Non-refundable Application Fee. The application fee for the 2017 academic year is $90 ($140 for the Special Master's in Physiology program). The fee can be paid by Visa or MasterCard only.
• Academic Statement of Purpose. An academic statement of purpose should be prepared and submitted online with the application. The personal statement should address your intellectual interests, academic and professional objectives, and proposed topic(s) of graduate study. The length of the personal statement is generally 500 words, but some programs have different or additional guidelines for submission of the statement of purpose. 
• Official Transcripts
• Three official recommendations are required by the Graduate School unless your program only mandates two. These recommendations must be from persons in positions to appraise the applicant's potential for graduate study.
• the receipt of a bachelor's or advanced degree from an accredited institution of higher education in the United States or from a university where English is the primary language of instruction. The degree does not have to be earned by the time of application but will need to be conferred by the start of the semester to which the applicant is applying. (Please note that applicants receiving degrees at universities in U.S. territories, such as Puerto Rico, are required to submit the TOEFL or IELTS unless the primary language of instruction at the institution is English.)
• submission of an official Test of English as a Foreign Language (TOEFL) score report with a minimum score of 550 (paper-based test) or 80 (internet test). Many departments and programs require submission of a TOEFL score of 600 (paper-based test) or 100 (internet test) or higher.
• submission of an official International English Language Testing System (IELTS)Academic Module score report with a minimum score of 7.0. Some departments and programs require submission of an IELTS score of 7.5.
• Proof of English Language Proficiency
• Resume
• Supplementary Application Form
• Entrance Examination Requirements - Official Test Results (GRE)

Scholarships

• Assistantships: stipends provided in return for service in teaching, research, or other matters of an academic nature
• Fellowships: stipend without a work obligation
• Scholarships: tuition grants
• Fulbright Scholarship Program (Visiting Scholar Program) 
• International Education Financial Aid (IEFA)

The Applied Economics program at Georgetown University offers students a comprehensive education in economic theory and its practical application to real-world issues. Designed to equip students with analytical and quantitative skills, the program prepares graduates for careers in public policy, finance, consulting, and research, among other fields. The curriculum covers core economic principles, including microeconomics, macroeconomics, and econometrics, alongside specialized courses in areas such as development economics, environmental economics, and health economics. This structure ensures a balanced combination of theoretical foundations and applied techniques. Students have opportunities to engage in research projects, internships, and policy analysis, fostering experiential learning and professional development. The program emphasizes analytical thinking, data analysis, and critical problem-solving, preparing students to interpret economic data and contribute to policy debates. Faculty members are experts in various fields of economics, providing mentorship and guidance throughout the coursework. The university’s location in Washington, D.C., offers unique advantages, including proximity to government agencies, think tanks, and international organizations, which enhances internship and employment prospects. Graduates of the Applied Economics program are well-positioned for advanced study or direct entry into careers in economic analysis, consulting, government agencies, or international organizations. The program typically requires a combination of coursework, research projects, and internships, and encourages students to develop a multidisciplinary approach by integrating economics with insights from political science, public policy, and business. The department also promotes a global perspective, reflecting the interconnected nature of modern economic issues. With a dedicated faculty, extensive resources, and strategic location, the Applied Economics program at Georgetown University aims to produce highly skilled economists equipped to address complex economic challenges and contribute meaningfully to society.