Applied Economics University of Illinois at Chicago

Overview

At the Applied Economics programme at University of Illinois at Chicago we provide analytically rigorous training in economic theory and statistical analysis that is accessible to students with less preparation in mathematics than is required for enrollment in an Economics Ph.D. program. Importantly, we condense this accelerated program into three semesters, including summer, so that students can complete the entire program in ten months. This substantially reduces the cost and enables students to matriculate to a Ph.D. program or enter the job market after only a single year of study.

We have structured the program to meet the needs of and engage students with diverse backgrounds and interests. The core economic theory and statistical methods courses are analytically rigorous but do not require extensive training in mathematics and do not focus on mathematical derivations or proofs. However, students with the requisite training in mathematics may substitute courses from our Ph.D. program in place of the corresponding Applied MA course. This enables these students to engage the material at a more mathematically sophisticated level and demonstrate their knowledge to Ph.D. programs and employers.

The UIC Economics Department has historically been strong in applied research and econometric analysis, particularly in the areas of health and education economics and policy. Applied MA students have the opportunity to take elective courses with leading young scholars in these areas. Students also have the opportunity to take courses outside of the Economics Department or in other areas that fit with their interests, or to take additional mathematics coursework that may be needed as preparation for a future Ph.D. program. Finally, all students have the choice to write an MA thesis or to complete additional coursework.

Key Facts

The program consists of two courses taken during July and early August followed by four courses in each of the fall and spring semesters for a total of 10 courses and 40 credit hours. All students must complete one course in mathematical methods for economics, two courses in microeconomic theory, one course in macroeconomic theory, three courses in quantitative methods, and one course in reading, writing and speaking economics. Either a thesis or two elective courses can be used to complete the program.

The fundamental principal of the Applied MA Program in Economics is the provision of a comprehensive graduate education tailored to the needs and interests of each student. Students will meet regularly with the program director and an advisor in order to support good progress and develop a program of study that fits the unique interests and objectives of each. The dedication of three courses to the study of quantitative methods reflects our belief that an in-depth understanding of statistical methods and research design are fundamental to a successful pursuit of further study in economics or application of knowledge gained to the workplace.