MS in Applied Economics
Economic analysis is no longer relegated to academicians and a small number of PhD-trained specialists. Instead, economics has become an increasingly ubiquitous and rapidly changing line of inquiry that requires people who are skilled in analyzing and interpreting economic data, and then using it to effect decisions about national and global markets and policy involving everything from health care to fiscal policy, from foreign aid to the environment, and from financial risk to real risk.
The Master of Science in Applied Economics develops skills in economic reasoning and in constructing and estimating economic models through the use of econometrics and other quantitative techniques. This is accomplished by a rigorous and demanding curriculum and a talented and dedicated staff of instructors. This is a 10-course degree program, with classes offered in the evenings at the Washington, DC Center of the Johns Hopkins University (near Dupont Circle) and online. The degree can be pursued at a part-time or a full-time pace, on-site or online, or in both modes. All undergraduate majors are welcome.
Admissions Criteria for all Advanced Academic Programs
Program Specific Requirements
In addition to the materials and credentials required for all programs, the Master of Science in Applied Economics also requires:
- One semester of introductory microeconomics, passed with at least a B
- One semester of introductory macroeconomics, passed with at least a B
- One semester of undergraduate calculus or equivalent, passed with at least a B
- A grade in a higher level course trumps a grade in a lower level course. A B grade or higher upon repeat is not acceptable.
Prerequisite Math Requirement
Those entering with only a single calculus course must take in their first semester AS.440.304 Math Methods for Economists, a three undergraduate credit, full-length course, at half tuition. The course does not count toward the degree. In order to waive the Math Methods for Economists course, evidence of multivariable calculus is required.
Program Requirements
Ten courses are required to complete the Master of Science in Applied Economics: four core required courses, one core customizable, and five additional elective courses.
Code | Title | Credits |
---|---|---|
Core Courses - Required: | ||
All four courses are required | 12 | |
Microeconomic Theory | ||
Macroeconomic Theory | ||
Statistics | ||
Econometrics | ||
Core Courses - Customizable: | ||
Select one of the following: | 3 | |
Macroeconometrics [Time-Series Analysis] | ||
Macroeconomic Forecasting [Time Series Analysis] | ||
Financial Econometrics [Time-Series Analysis] | ||
Microeconometrics [Cross-Section and Panel Analysis] | ||
Electives | ||
Select five of the following: | 15 | |
Macroeconometrics [Time-Series Analysis] | ||
Macroeconomic Forecasting [Time Series Analysis] | ||
Bayesian Econometrics | ||
Financial Econometrics [Time-Series Analysis] | ||
Microeconometrics [Cross-Section and Panel Analysis] | ||
Cost-Benefit Analysis | ||
Computable General Equilibrium Modeling | ||
Machine Learning in Statistics | ||
Survey Research Methods | ||
Monetary Economics | ||
Finance and the Macroeconomy | ||
Topics in Macroeconomics and Finance | ||
Economic Growth | ||
International Finance (Open Economy Macro) | ||
Financial Economics | ||
Financial Intermediation & Financial Markets | ||
Economics of Investments and Financial Management | ||
Behavioral Economics & Finance | ||
Economics of Derivatives | ||
Environmental & Resource Economics | ||
Economics of the Labor Market | ||
Political Economy | ||
Industrial Organization | ||
Law and Economics | ||
Public Economics | ||
Development Microeconomics | ||
International Trade (Open Economy Micro) | ||
Regional Economics | ||
Urban Economics | ||
Economics of Health Care | ||
Game Theory | ||
Total Credits | 30 |
Concentration in Financial Economics
You may choose to declare a formal concentration in Financial Economics as part of your MS in Applied Economics degree program. Successful completion of the requirements outlined below will allow this concentration to be noted on your transcript.
Code | Title | Credits |
---|---|---|
Core Courses - Required: | ||
All five courses are required | 15 | |
Microeconomic Theory | ||
Macroeconomic Theory | ||
Statistics | ||
Econometrics | ||
Financial Economics | ||
Core Courses - Customizable: | ||
Select one of the following: | 3 | |
Macroeconometrics [Time-Series Analysis] | ||
Macroeconomic Forecasting [Time Series Analysis] | ||
Financial Econometrics [Time-Series Analysis] | ||
Electives | 12 | |
Select four of the following: | ||
Financial Economics Electives | ||
Select between two and four courses to fulfill this requirement. | ||
*If you chose "Financial Econometrics" as your Advanced Time-Series Econometrics Course, you may not double-count "Financial Econometrics" as one of your elective courses, but need only select between one and four courses to fulfill this requirement. | ||
Financial Econometrics [Time-Series Analysis] | ||
Financial Intermediation & Financial Markets | ||
Economics of Investments and Financial Management | ||
Behavioral Economics & Finance | ||
Economics of Derivatives | ||
Complementary Macro and Quantitative Electives | ||
Choose no more than two of these courses to satisfy this concentration's requirements. Please note, you may not double-count your selected Advanced Time-Series Econometrics Course as one of your elective courses. | ||
*If you chose "Financial Econometrics" as your Advanced Time-Series Econometrics Course, you may choose up to three courses to satisfy this concentration's requirements. | ||
Macroeconometrics [Time-Series Analysis] | ||
Macroeconomic Forecasting [Time Series Analysis] | ||
Bayesian Econometrics | ||
Microeconometrics [Cross-Section and Panel Analysis] | ||
Machine Learning in Statistics | ||
Monetary Economics | ||
Finance and the Macroeconomy | ||
Topics in Macroeconomics and Finance | ||
Economic Growth | ||
International Finance (Open Economy Macro) | ||
Economics of the Labor Market | ||
Other Electives | ||
Choose no more than one of these courses to satisfy this concentration's requirements. | ||
Cost-Benefit Analysis | ||
Computable General Equilibrium Modeling | ||
Survey Research Methods | ||
Environmental & Resource Economics | ||
Political Economy | ||
Industrial Organization | ||
Law and Economics | ||
Public Economics | ||
Development Microeconomics | ||
International Trade (Open Economy Micro) | ||
Regional Economics | ||
Urban Economics | ||
Economics of Health Care | ||
Game Theory | ||
Total Credits | 30 |
Optional Thesis (AS.440.692)
Students may undertake their own research project as an 11th program course for three additional credits at full tuition. Prior to proposing a project, interested students must have clearly identified a research topic, and submit a formal proposal for review and approval to the Thesis Research Committee, to be received no later than two months prior to the beginning of the term in which the student plans to enroll in the course. The proposal must follow the Applied Economics Thesis Guidelines, which can be obtained by contacting the Program Director.
The committee will help identify a mentor who is familiar with their prospective inquiry, and is willing to provide guidance and oversee the project. The mentor must be faculty teaching at the Johns Hopkins University, but the availability of a mentor cannot be guaranteed. Students must meet with the mentor periodically for discussion of the project's progress, on-site or on-line, and must complete a research paper, to be approved by the mentor and the Committee.
Enrollment of the student is undertaken by the Program Director.
Prerequisites: All four Core courses and Microeconometrics or Macroeconometrics, and one or more Applied Economics courses in the substantive area of the proposed research, plus a strong academic record (at least B+ average) in at least eight program courses, are absolute minima.