Economics

Study mode:Online Study type:Part-time Languages: English
Foreign:$ 41.4 k / Year(s) Deadline: Jun 10, 2024
94 place StudyQA ranking:4097 Duration:2 years

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The MS degree in Economics at Purdue University is a 30-credit-hour program (standard for MS programs) that spans two academic years (19 months).   The curriculum is demanding, and taught by a talented and dedicated staff of instructors drawn from the full-time faculty members of the Department of Economics at Purdue University.  

With expanding access to extensive datasets, both public and proprietary, individuals who have the tools to analyze and interpret economic data, including the ability to apply the results to decision making in managerial and public policy environments, have become highly valued.   The MS degree in Economics

  • provides students who have strong quantitative skills a foundation for formulating and estimating economic models through the use of econometrics and other quantitative techniques;  
  • builds on this foundation either by offering specific applications of the analysis in various business settings (the Applied Economics/Business concentration) or by offering more in depth theoretical modeling skills (the Advanced Theory concentration or thesis option). 

The standard MS degree program is a part-time, online program that combines a first-year common core set of courses in Economic theory and Econometrics with a set of second-year courses that provide a concentration in either Applied Economics/Business or in Advanced Economic Theory.  Depending on the concentration chosen, the program provides decision-making skills helpful in managerial and policy making positions (Applied Economics/Business concentration) or prepares students for entry into PhD programs in Economics (Advanced Theory concentration).  The program is designed so that it can be completed entirely online, with each class of entering students working together in common online sections of the courses.  The online course content is exactly comparably to in-class courses offered on the Purdue campus, as courses in the program have both in-class and online sections.

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. 

Semester

Duration

Applied Economics/Business Concentration (Online, Standard Schedule)

 Advanced Theory Concentration (Online, Standard Schedule)

1

semester

Intermediate Econ I (Micro) (51100)

Intermediate Econ I (Micro) (51100)

1

semester

Econometrics I (56200)

Econometrics I (56200)

2

semester

Intermediate Econ II (Macro) (51200)

Intermediate Econ II (Macro) (51200)

2

Module 1

Behavioral Economics (58500)

Behavioral Economics (58500)

2

Module 2

Financial Econometrics (57300)

Financial Econometrics (57300)

 summer

Module 1

Econometrics II (59000)

Econometrics II (59000)

 summer

Module 1

International Economics (59000)

International Economics (59000)

3

Module 1

Law and Economics (56500)

Micro Theory I (60600)

3

Module 1

xxxx

Math Analysis for Economists (615)

3

Module 2

Economics & Accounting (59000)

xxxx

3

Module 2

Industrial Economics (52000)

Industrial Economics (52000)

4

Module 1

Game Theory (51000)

Advanced Game Theory (61000)

4

Module 1

Microeconometrics (57400)

xxxx

4

Module 2

xxxx

Economics of Information (61400)

4

Module 2

Personnel Economics (55000)

Personnel Economics (55000)

4

Module 2

Indepedent Study (59000 - 1 credit)

Independent Study (59000 - 1 credit)

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
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