Program Director: Dr. Nicholas Jolly, Ph.D.
MS in Applied Economics website
Degree Offered
Master of Science in Applied Economics, Plan B Professional Project option only.
Program Description
The master of science program in applied economics is designed for individuals seeking careers as economics, financial or marketing analysts in business, industry, government or the financial sector. The program provides students with the solid grounding in economic theory and the working knowledge of advanced quantitative methods needed to succeed as business economists, financial analysts, economic and marketing researchers, government staff economists or economic consultants. The program concentrates on developing and applying practical skills which can be used to solve real problems confronting business and government. The curriculum is designed to produce practitioners who can develop and interpret economic models. Courses emphasize the application of economic theory and the use of quantitative techniques rather than the derivation of their theoretical underpinnings. Communication skills are stressed through frequent written and oral presentations of results from applied research projects.
Prerequisites for Admission
Applicants are expected to have a baccalaureate degree with at least one course in each of the following areas: intermediate microeconomic theory, intermediate macroeconomic theory, statistical methods and calculus. Familiarity with personal computers is also required.
Specializations
Applied Economic Analysis, Business Economics, Business and Managerial Analytics, Financial Economics, Marketing Research
Application Requirements
Application requirements and the online application link are available through the GSM website.
Note: Students may apply for regular degree, non-degree or temporary non-degree status. Non-degree applicants and temporary non-degree applicants must submit all required application materials, except the GMAT/GRE scores. Non-degree and temporary non-degree status are not available to international students. International applicants must apply for regular degree admission status.
Students are encouraged to complete all application materials and apply for degree status. Non-degree status and temporary non-degree status are valid for a term or a limited number of terms as approved by the program director. Students with non-degree or temporary non-degree status are not eligible to continue taking GSM classes beyond the time frame the approved term(s) without degree admission. Typically, non-degree admission is not recommended in the M.S.A.E. program.
Specializations: Applied Economic Analysis, Business Economics, Business and Managerial Analytics, Financial Economics, Marketing Research
The master of science in applied economics (M.S.A.E.) program requires a minimum of 30 credit hours of course work (at least 15 of which must be in 6000-level graduate courses), a non-credit master's professional project and an oral comprehensive examination.
Each student completes a specialization. Course work includes: 12 credit hours of required core courses in economic theory and quantitative analysis, 12 credit hours of course work relating to a chosen area of specialization and six credit hours of electives. Specializations include applied economic analysis (with a policy focus or self-directed focus), business economics, business and managerial analytics, financial economics, and marketing research. With the approval of the program director and appropriate extra work of graduate caliber, a student may apply toward the degree up to six credit hours of selected 5000-level upper-division courses. Also, with the approval of the program director, a student may substitute, for the usual elective requirements, up to six credit hours of course work in fields outside of economics and business administration. All Graduate School of Management courses may require appropriate prerequisites.
The master's professional project consists of a careful application of newly acquired analytical skills to a particular issue or problem. The professional project is completed during the final term of the program and is often an extension of a previously completed course project. The outline for the M.S.A.E. Professional Project form is posted to the Graduate School of Management's website. Refer to the Academic Calendar in this bulletin for the professional project outline and the professional project submission deadlines.
An oral comprehensive examination is administered in the student's last term of the program. This examination covers subject matter prescribed by the Department of Economics.
Program Requirements
Each student must choose a specialization: applied economic analysis, business economics, business and managerial analytics, financial economics or marketing research. All specializations require a common set of 4 core courses.
Required Core Courses
Course List | Code | Title | Hours |
| ECON 6560 | Applied Econometrics 1 | 3 |
| ECON 6561 | Applied Time-Series Econometrics and Forecasting | 3 |
| ECON 6503 | Microeconomic Theory and Applications | 3 |
| ECON 6504 | Macroeconomic Theory and Applications | 3 |
| Total Credit Hours: | 12 |
Specializations
Applied Economic Analysis
The applied economic analysis specialization provides a flexible option for students who wish to focus almost exclusively on economics courses.
Course List | Code | Title | Hours |
| 12 |
| 12 |
| 6 |
| Total Credit Hours: | 30 |
Business Economics
The business economics specialization is suitable for individuals seeking careers in the private sector in industries such as utilities, services and manufacturing. It combines economics courses with such business courses as managerial accounting, marketing management and operations management.
Course List | Code | Title | Hours |
| 12 |
| ACCO 6200 | Managerial Accounting for Decision Making | 3 |
| 6-9 |
| 9-6 |
| Legal Issues in Business and Technology | |
| Business Analytics | |
| Advanced Financial Management | |
| Leading People and Change (1.5 crs.) | |
| Leadership Coaching and Development (1.5 crs.) | |
| Marketing Research | |
| Marketing for Management Decision Making | |
| Operations and Supply Chain Management | |
| |
| Skills: SAS | |
| Skills: SPSS | |
| R Programming | |
| SQL | |
| Python Programming | |
| Topics in Economics | |
| Total Credit Hours: | 30 |
Business and Managerial Analytics
The business and managerial analytics specialization is designed to provide the tools, structure and practice to help begin a career that focuses on investigation and analysis of big data to support data-driven business decisions. Students completing the specialization gain a practical set of skills across the entire range of analytics activities that can be applied to a wide variety of business tasks.
Course List | Code | Title | Hours |
| 12 |
| MBA 6100 | Business Analytics | 3 |
| 9 |
| Marketing Research | |
| Marketing Analytics | |
| Data Mining and Machine Learning | |
| Data Intelligence | |
| Data Ethics | |
| Design and Management of Database Systems | |
| |
| Skills: SAS | |
| Skills: SPSS | |
| R Programming | |
| SQL | |
| Python Programming | |
| Topics in Economics | |
| 6 |
| Total Credit Hours: | 30 |
Financial Economics
The financial economics specialization is appropriate for those interested in a career in the financial services sector including commercial and investment banks, insurance companies and wealth management. It blends such economics courses as monetary theory and policy with courses in financial policy and advanced seminar in finance.
Course List | Code | Title | Hours |
| 12 |
| ACCO 6200 | Managerial Accounting for Decision Making | 3 |
| ECON 6580 | Monetary Theory and Policy | 3 |
| FINA 6200 | Advanced Financial Management | 3 |
| 3 |
| 6 |
| Total Credit Hours: | 30 |
Marketing Research
The marketing research specialization is designed for students interested in a career in marketing research and market analysis, working either for marketing research consulting companies or in marketing research departments of companies in the service, manufacturing or financial sector. It combines the applied econometric and forecasting courses taught in the economics core with courses in marketing management, marketing research and other traditional marketing areas.
Course List | Code | Title | Hours |
| 12 |
| MARK 6160 | Marketing Research | 3 |
| MARK 6200 | Marketing for Management Decision Making | 3 |
| 6 |
| |
| Skills: SAS | |
| Skills: SPSS | |
| R Programming | |
| SQL | |
| Python Programming | |
| Topics in Economics | |
| 6 |
| Total Credit Hours: | 30 |
Research Involving Humans or Animals
A student whose research either on or with humans or animals must receive written approval before undertaking such research. The approval forms for human or animal research may be obtained through the Office of Research Compliance. This approval form and any additional paperwork must be submitted to the Graduate School of Management. Additional information may be found at marquette.edu/researchcompliance.
Accelerated BACHELOR'S–MASTER'S Degree Program
This five-year program allows students to earn both their master of science in applied economics (M.S.A.E.) and an undergraduate degree from the College of Arts and Sciences or the College of Business Administration. Undergraduate students may begin their graduate work in their junior year. A maximum of 9 credits may count for both the undergraduate and graduate degrees. Within these credits, a maximum of 6 credits of 5000-level course work may transfer to the M.S.A.E.
Should a student be denied admission to the M.S.A.E. program, the courses are counted toward the undergraduate degree only. A minimum grade of B is required for courses taken as a undergraduate student for graduate credit to apply toward graduate program requirements. Upon completion of the first term as a master's candidate, the student must petition the appropriate Graduate School of Management program director to transfer the courses taken as an undergraduate to the master's degree.
To be considered for admission to the five-year program, applicants must formally apply to the Graduate School of Management during their junior or senior year at Marquette University, complete all of the application requirements and indicate on the application that they are applying for the five-year program.
