MS in Financial Economics
In the Master of Science in Financial Economics program, learning economic theory is only the beginning. Students develop advanced analytical, quantitative, and data-driven skills to interpret global financial markets and evaluate economic change. Through rigorous training in financial modeling, asset pricing, risk analysis, and forecasting, graduates are prepared to make informed, strategic decisions across the public and private sectors.
The program is a CFA Institute University Affiliation Program, reflecting the close alignment of our curriculum with globally recognized professional standards in investment management and financial analysis. This affiliation signals to employers that students receive training grounded in the ethical and analytical foundations central to the CFA Program.
As a STEM-designated degree, the program integrates AI literacy and applied data analytics throughout the curriculum. Students gain hands-on experience with modern analytical tools, quantitative methods, and emerging technologies shaping the future of finance. This combination of economic theory, professional alignment, and technological fluency equips graduates to compete in an increasingly data-intensive financial environment.
Johns Hopkins University enables students to tailor their academic experience through customizable core courses and a broad selection of electives. The 10-course program can be completed part- or full-time, offered onsite in Washington, D.C., online, or in a hybrid format to accommodate working professionals and full-time students alike. Students from 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 Financial Economics has the following program-specific minimum requirements:
- Resume
- Two Letters of Recommendation
- Statement of Purpose: Please provide a statement, up to one page in length, describing your personal background and/or a part of your life experience that has shaped you or your goals. Feel free to elaborate on personal challenges and opportunities that have influenced your decision to pursue a graduate degree at Johns Hopkins.
- Prerequisite Courses:
- 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 statistics, passed with at least a B
- One undergraduate course that covers multivariate calculus, passed with at least a B
Program Requirements
Students in the MS in Financial Economics program must complete 10 courses:
- Four core required courses
- One core customizable course
- Five electives, as noted below
This degree is STEM-designated. International students in F-1 status who complete this program and obtain post-completion Optional Practical Training (OPT) may be eligible for the STEM OPT Extension. Students should consult the Office of International Services if they have questions about this benefit.
| Code | Title | Credits |
|---|---|---|
| Core Courses - Required: | 12 | |
| All four courses are required. | ||
| Microeconomic Theory | ||
| Macroeconomic Theory | ||
| Econometrics | ||
| Financial Economics | ||
| Core Courses - Customizable: | 3 | |
| Select one of the following Advanced Time-Series Econometrics Courses. 1 | ||
| Macroeconometrics [Time-Series Analysis] | ||
| Macroeconomic Forecasting [Time Series Analysis] | ||
| Financial Econometrics [Time-Series Analysis] | ||
| Electives | 15 | |
| Financial Economics Electives | ||
Select between two and four courses to fulfill this requirement. 2 | ||
| Financial Econometrics [Time-Series Analysis] | ||
| Financial Intermediation & Financial Markets | ||
| Economics of Investments and Financial Management | ||
| Behavioral Economics & Finance | ||
| Economics of Derivatives | ||
| Electives | ||
| Macroeconometrics [Time-Series Analysis] | ||
| Macroeconomic Forecasting [Time Series Analysis] | ||
| Bayesian Econometrics | ||
| Microeconometrics [Cross-Section and Panel Analysis] | ||
| Machine Learning in Statistics | ||
| Monetary Economics | ||
| Topics in Macroeconomics and Finance | ||
| Economic Growth | ||
| International Finance (Open Economy Macro) | ||
| Economics of the Labor Market | ||
| Cost-Benefit Analysis | ||
| Computable General Equilibrium Modeling | ||
| Environmental & Resource Economics | ||
| Political Economy | ||
| Industrial Organization | ||
| Public Economics | ||
| Development Microeconomics | ||
| International Trade (Open Economy Micro) | ||
| Regional Economics | ||
| Urban Economics | ||
| Economics of Health Care | ||
| Game Theory | ||
| Climate Change Policy Analysis | ||
| Energy & Climate Finance | ||
| Total Credits | 30 | |
- 1
In some instances, an Advanced Time-Series Econometrics course/Time Series Analysis course that isn't taken as a core - or required - course may be taken as electives. Courses cannot satisfy more than one degree requirement.
- 2
Courses cannot satisfy more than one degree requirement.
- 3
Students may not double-count their selected Advanced Time-Series Econometrics Course/Time Series Analysis course as an elective course. Courses cannot satisfy more than one degree requirement.
Optional Thesis (AS.440.692 Thesis)
Students may undertake their own research project as an 11th program course, AS.440.692 Thesis, for three additional credits at full tuition. Prior to proposing a project, interested students must have clearly identified a research topic. Then, they must submit a formal proposal for review and approval to the Thesis Research Committee. This proposal must 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 Thesis Guidelines, which can be obtained by contacting the program director.
The committee will help identify a mentor who is familiar with the student's prospective inquiry and is willing to provide guidance and oversee the project. The mentor must be a member of the 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, onsite or online, 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.
Required Prerequisites: All five core courses, including AS.440.614 Macroeconometrics [Time-Series Analysis], AS.440.615 Macroeconomic Forecasting [Time Series Analysis] or AS.440.617 Financial Econometrics [Time-Series Analysis]; two or more Financial Economics electives in the substantive area of the proposed research; and a strong academic record (at least B+ average) in at least eight program courses.