The Master of Science in Economics degree (MS) provides strong foundations in economic theory, quantitative methods, applications, and research analysis to prepare graduates for research positions in and consulting and government organizations, or as preparation for doctoral studies in Economics or Agricultural Economics. This degree is designed so that well-prepared students can complete it in only 1 year, but most students complete it in 3 or 4 semesters. 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 late August.
Major highlights of the MS program:
- Rigorous Academic Training. The program provides strong foundations in economic theory, quantitative methods, applications, and research analysis.
- Multiple Career Paths. This MS program is an excellent preparation for doctoral (PhD) studies in Economics, Finance, Agricultural Economics, or Business Economics. The program also enhances students’ research ability in consulting, government, and research organizations.
- Flexible Learning Schedule. Our program allows for two programs of study:
o One-year option for students seeking industry, government, and consulting jobs, in which well-prepared students can complete all course work in 12 months obtaining a terminal MS degree; and
o Two-year option for students seeking to continue their graduate education with a PhD degree. In this option, students take MS-level courses during their first year and can take some PhD-level courses during their second year, which are transferred if the student is subsequently accepted into our PhD program. This has been a successful pathway for some of our best PhD graduates given their strong preparation in the MS program.
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).
- Prerequisite courses. Intermediate Microeconomics, Intermediate Macroeconomics, Statistics, Econometrics, Linear Algebra, and Calculus. Students lacking 1-2 of these courses may still submit their application if they are planning to complete these courses before the beginning of the MSE program in August. Students lacking several of these courses may consider the Pre-Master option. ADD LINK OF THE PRE-MASTER OPTION HERE.
- GRE exam. The GRE exam (general test) is required, but there is no minimum GRE score. As a reference, the average GRE score in the quantitative section of recently admitted applicants is around 153 points or above. If you took the GMAT exam, please contact us with your scores, to see if you would be waived from taking the GRE exam. You can find more information about the GRE here: https://www.ets.org/gre.
- TOEFL/IELTS exam. 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.