The Master degree in Applied Economics (MAE) provides strong foundations in economic theory, quantitative methods, applications, and research analysis to prepare graduates for professional careers in business and consulting, government, and research organizations. This degree is designed so that well-prepared students can complete it in only 1 year. Job opportunities after the MAE degree include research analyst, economist, financial and marketing directors. While salaries after completing a Bachelor’s degree in Economics are around $42,546 – $76,621, those after a Master’s degree in Economics average $107,000; as reported by PayScale.com.
We next list more details of our MS program. You are welcome to submit your application before January 10th, to be considered for the program starting in August.
Major highlights of the MAE program:
- Rigorous Academic Training. The program provides strong foundations in economic theory, quantitative methods, applications, and research analysis.
- Multiple Career Paths. Our goal is to enhance students’ competitiveness to succeed in professional careers in business, consulting, government, and research organizations, among others.
- Flexible Learning Schedule. Our program allows for different programs of study, but most students complete the program in one year.
- STEM designation. Our Master programs received the STEM designation by U.S. Department of Education’s National Center for Education Statistics. This gives international students the possibility to extend their Optional Practical Training (OPT) for up to two years before moving to a work visa (such as the H1-B).
Main admission requirements:
- GPA. Bachelor’s Degree in Economics, Business, Finance, Engineering, or related fields, with a cumulative GPA of 3 or higher (out of a scale of 4). If your GPA is below 3.0, we may still consider your application if your transcript shows good grades in Economics, Statistics and/or Math courses.
- Undergraduate courses. Courses such as Intermediate Microeconomics, Intermediate Macroeconomics, Statistics, Econometrics, Linear Algebra, and Calculus, are highly recommended, but they are not required for admission. Students lacking some of these courses may still submit their application if they are planning to complete the courses before the beginning of the MAE program. Students lacking several of these courses may consider the Pre-Master program described below.
- GRE/GMAT exams. The GRE/GMAT exams are not required, but you are welcome to include scores in your application. You can find more information about the GRE here: https://www.ets.org/gre.
- TOEFL/IELTS exam. These are tests that evaluate your English proficiency. The minimum TOEFL score is 213 in the computer version (which corresponds to 550 points in paper version, and 80 points in the internet version). The minimum score in the IELTS exam is 7 points. For more information about the TOEFL exam here: https://www.ets.org/toefl.
- WSU waives the TOELF/IELTS exams to students graduating from universities where English is the language of instruction: Australia, Bahamas, Barbados, Botswana, Canada, Guyana, Kenya, United Kingdom, Republic of Ireland, Jamaica, New Zealand, Nigeria, and Trinidad and Tobago. For more details on this policy, visit https://gradschool.wsu.edu/international-requirements/.
- If you passed the C1 exam or C2 exam (common in undergraduate degrees in Europe), we may also consider them as English requirements in your application.
- Letters of recommendation. During the application process, you must enter the names and contact information for three (3) faculty members, employers, or individuals who know you well. They will receive an automated email requesting them to directly submit to us a letter of recommendation on your behalf.
- You can submit your application online through WSU’s Graduate School’s website: https://www.applyweb.com/wsugrad/index.ftl.
Pre-Master program. This program prepares students to start taking Masters-level courses. It is intended for applicants with, for instance, the following backgrounds:
- Non-Economics majors.
- Business majors who did not take courses that we regard as prerequisites in our Master programs, such as Intermediate Microeconomics, Intermediate Macroeconomics, Econometrics, Statistics, Linear Algebra, and Calculus I and II.
- Economics majors who completed their degree several years ago and would like to revisit some topics.
The Pre-Master program can be tailored to each student, depending on his/her background and academic plans. Most students can complete this program in one or two semesters, including the summer semester, both in-campus and online, allowing for flexible paths. If a student earns a grade of B+ or higher in all his/her courses, he/she can start taking Master-level courses in August with the rest of incoming Masters students. Please don’t hesitate to contact us for more questions.
A typical schedule could include, for example, the following courses:
- Spring semester: EconS 301 (Intermediate Microeconomics with Calculus), EconS 311 (Introductory Econometrics), and Linear Algebra.
- Summer semester: EconS 302 (Intermediate Macroeconomics), Calculus I and II.
Students interested in the Pre-Master program must express their interest in their MAE application. If admitted into our MAE program, the Graduate Studies Committee may extend a conditional admission letter to the student, describing the list of preparatory courses recommended before starting to take Master-level courses. Officially, the student is a graduate student of our MAE program, but cannot take Masters-level courses until earning B+ or higher in all courses recommended in his admission letter.