The MS degree in Applied Economics 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, 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. Job opportunities after the MS 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 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 2019, to be considered for the program starting in August 2019.
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. Our goal is to enhance students’ competitiveness to succeed in professional careers in business, consulting, government, and research organizations, among others. This MS program is also an excellent preparation for doctoral (PhD) studies in Economics, Finance, Agricultural Economics, or Business Economics.
- 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 PhD-bound students, in which students take some MS-level courses during their first year and 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. Calculus, linear algebra, statistics, econometrics, intermediate microeconomics, and intermediate macroeconomics;
- GRE exam. We do not require a minimum GRE score (general test). However, the average GRE score in the quantitative section (the most important section for our application process) 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 taking the GRE exam. Please note that, if you are a Ph.D.-bound student who plans to continue into the WSU Ph.D. program after finishing your MS degree, you must include your GRE scores as part of your application to the MS program. 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 to 80 points in the internet version). If you took the IELTS exam, the minimum IELTS score is 7 points. The TOELF/IELTS exams are waived to students graduating from universities where English is the language of instruction. Specifically, the Graduate School from WSU waives the TOEFL/IELTS exam to applicants who completed their degree from institutions in the following countries: 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/, and for more information about the TOEFL exam here: https://www.ets.org/toefl.
- 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.