Economics

The Bachelor of Science in Economics at Purdue University West Lafayette offers students a comprehensive and rigorous education in economic theory, applied economics, and quantitative analysis. Designed to prepare students for diverse careers in business, government, and academia, the program emphasizes critical thinking, analytical skills, and a deep understanding of economic principles that drive decision-making and policy. Students will explore core topics such as microeconomics, macroeconomics, econometrics, and international economics, gaining both theoretical knowledge and practical application through case studies, research projects, and interactive coursework. The curriculum also encourages specialization in areas like financial economics, public policy, or industrial organization, allowing students to tailor their academic experience to their career interests.

In addition to foundational coursework, students have access to advanced seminars, experiential learning opportunities, and internships that offer real-world exposure and professional development. The program benefits from Purdue University's strong faculty expertise, state-of-the-art resources, and active connections to industries and policymaking bodies, providing students with a well-rounded education and networking opportunities. Graduates of the program are equipped to analyze complex economic issues, develop strategic solutions, and communicate findings effectively, making them competitive candidates in the job market. Whether pursuing careers in finance, consulting, government, or further academic study, students will graduate with a solid foundation in economic analysis, quantitative methods, and critical reasoning skills necessary for success in a rapidly changing global economy.

Below is a summary of the non-thesis MS in Economics curriculum (the credits for each course are reported in parentheses). The curriculum involves a core set of courses and the choice of one of two concentration areas. .

Core Theory Courses The program starts by introducing the general framework of Economics. Four courses provide this common theoretical and analytic core: Intermediate Economics I (3), Intermediate Economics II (3), Econometrics I (3), and Econometrics II (2),

Core Applied Courses Key extensions to the general framework of Economics provided to all students include econometric applications using financial data, integration of behavioral insights drawn from psychology, and expansion of the analysis to provide a global perspective. The three 2-credit courses that address these three issues, offered during the second semester and summer of the program, are respectively: Financial Econometrics (2), Behavioral Economics (2), and International Economics (2).

Applied Economics/Business Concentration Courses An essential feature of a skilled manager, analyst, or policy maker is the ability to make the right decisions. Success in decision making can be achieved by adopting the general conceptual, analytic, and theoretical framework of Economics, and then exploring applications suggested by management disciplines such as accounting, human resources, business law, business analytics, and strategy. This is the goal of the applied economics/business concentration. Two-credit courses offered in this concentration include Economics and Accounting (2), Personnel Economics (2), Law and Economics (2), Microeconometrics (2), Industrial Economics (2) and Game Theory (2). In addition, during the second year the student completes a one-credit independent study based on one of these courses that allows the student to work closely with the instructor of the course to explore in depth a particular topic of interest to the student.

Advanced Theory Concentration Courses The Advanced Theory concentration focuses on the preparation of students for admission into PhD programs in economics, management, or political science at first-tier research universities.  The courses includes courses in microeconomic theory and applications at a level of analytic rigor comparable to a first-year PhD program in Economics.  To complete this concentration either as an online student or as a hybrid student requires completion of the following four two-credit PhD-level courses: Mathematical Analysis for Economists, Microeconomics Theory I, Advanced Game Theory, and Economics of Information. Online students are also required to complete the Industrial Economics course.  Hybrid students who come on campus in the second year have the option of taking additional PhD-level courses during the second year in economic theory, statistics, and econometrics.  PhD-level courses are challenging, and we strongly advise students who plan to pursue the advanced theory concentration to consider the hybrid MS degree program. The hybrid program requires that the second year of the program be in-residence; this allows enhanced interaction among students and between students and faculty that is particularly useful for students preparing for application to PhD programs.

Schedule of Classes  The standard two-year program has classes held over 21 months (four semesters, one summer). After the first semester in the fall, semesters are divided into two modules. Two-credit courses are offered during these modules. Sample online schedules for the two concentrations offered in our standard two-year, online program are provided below. 

Flexiblity in Schedule  Purdue's MS degree program in Economics provides flexibility in completion of the program in two ways. One is the option of an extended online schedule that can be completed over a three-year period (six semesters, two summers) rather than the standard two-year period schedule.  The second is the option of pursuing a "hybrid" schedule that allows the student to complete the second academic year of the MS degree program as a full-time student in residence on Purdue's main campus in West Lafayette, Indiana, USA. 

We are pleased with your interest in one of our two graduate programs: the Doctoral Program or the Online Master of Science Program. Additional documents are required to support the application to the Online MS or PhD degree programs. Supporting documents should be mailed directly to the program:

Supporting Documents for Economics Doctoral or Online MS Degree Program: Additional documents are required to support the application. Supporting documents should be uploaded to the online application or mailed directly to the graduate program to which you are applying, as directed below. Click the links below for details. Supporting documents include the following, unless specific instructions are noted in the requirements sections of this page:

• Transcripts
• GRE Test
• English Proficiency
• Recommendation letters Two (2) recommendation letters are required to support your application.  Your appraisers should submit the letters online through the electronic application. When you create an online application to the Purdue Graduate School, you will have the opportunity to enter the names of your recommendation providers. Elect to have the recommendation submitted online. Your recommendation provider will then receive an automatic email notification with instructions for accessing our online recommendation system. Once the online recommendation is submitted, the graduate program to which you applied will have access to view your online recommendation.
• Statement of Purpose: An essay concerning your purpose for seeking the degree.  Please try to keep your statement of purpose to 4 pages or less.
• Resume

The Bachelor of Science in Economics at Purdue University - West Lafayette offers a range of financing options to assist students in funding their education. Undergraduate students pursuing this program have access to federal and state financial aid programs, including need-based grants such as the Pell Grant and the Federal Supplemental Educational Opportunity Grant (FSEOG). Eligibility for these grants depends on the student's financial need, as determined through the Free Application for Federal Student Aid (FAFSA) process. Additionally, students can explore federal student loans, such as Direct Subsidized Loans and Direct Unsubsidized Loans, which offer low-interest rates and flexible repayment options. Purdue University also participates in federal work-study programs, allowing eligible students to gain part-time employment opportunities on campus to help offset educational costs.

Apart from federal aid, the university provides its own institutional scholarships and grants based on academic achievement, leadership, and other criteria. These scholarships are awarded annually and can significantly reduce the overall cost of the degree. Students are encouraged to apply early and maintain good academic standing to retain scholarship opportunities. Purdue University also offers payment plans that allow students to spread tuition payments throughout the semester or academic year, making it more manageable financially.

For international students or those requiring private funding sources, the university recommends exploring external scholarships, private loans, or sponsorships. Some students might also consider federal Parent PLUS Loans if they are dependent students, or private education loans from banks and lending institutions, although these often require a credit check and may have different interest rates and repayment terms.

In terms of work opportunities, besides work-study, students may also seek internships or part-time positions related to their field of study, which can provide both income and valuable professional experience. Purdue University’s Office of Financial Aid offers comprehensive counseling and resources to guide students through application processes and financial planning. Overall, the program’s financing options aim to make pursuing an Economics degree attainable for students from diverse financial backgrounds, supporting them in achieving their educational and career goals without undue financial hardship.

The Purdue University - West Lafayette offers a comprehensive undergraduate program in Economics designed to equip students with a solid foundation in economic theory, quantitative methods, and applied analysis. The program aims to develop students' analytical, critical thinking, and problem-solving skills to prepare them for diverse careers in business, government, and non-profit organizations, as well as for graduate studies.

The curriculum includes core courses such as Principles of Microeconomics and Principles of Macroeconomics, which introduce fundamental economic concepts and models. Students also explore advanced topics like Money and Banking, International Economics, Public Economics, Labor Economics, and Industrial Organization. Quantitative and methodological courses include Statistics for Business and Economics, Econometrics, and Data Analysis, emphasizing the importance of data-driven decision-making in economics.

Students have opportunities to engage in research projects, internships, and cooperative education experiences that enhance practical understanding of economic principles in real-world settings. The program emphasizes critical thinking and analytical skills, encouraging students to evaluate economic policies, market trends, and global economic issues critically.

In addition to technical and analytical courses, students can choose electives tailored to specific interests, such as environmental economics, health economics, or financial economics. The program also fosters communication skills through presentations, reports, and discussions, preparing graduates to articulate complex economic concepts effectively.

Purdue's Department of Economics provides faculty who are active researchers, many of whom publish in leading journals and contribute to policy debates. Students benefit from a vibrant academic community, access to research centers, and networking opportunities through seminars, workshops, and industry events.

Upon graduation, students are well-positioned for careers in economic consulting, finance, policy analysis, government agencies, international organizations, and academia. Alternatively, many students pursue graduate education, including master's and Ph.D. programs in economics or related fields. The program emphasizes a rigorous yet flexible curriculum designed to foster continuous learning, adaptability, and insight into fiscal and monetary challenges faced by modern economies. Overall, the Economics program at Purdue University - West Lafayette strives to produce graduates who are analytical thinkers, effective communicators, and capable economists ready to contribute meaningfully to their chosen fields.