It is normally the case that MAE students have completed at least the following before beginning the graduate program: calculus (one year), intermediate microeconomic theory (one term), intermediate macroeconomic theory (one term), and elementary statistics (one term).
Credit Hour Requirement
A total of 38 credit hours of graduate-level coursework is required. The five MAE core courses constitute 20 of these credits. The remaining 18 credits are fulfilled with elective courses. Of those, a minimum of 6 credits will be applied to the concentration requirement.
Grade Point Average
Students must have a 3.0 cumulative GPA or higher to receive the MAE degree.
Required MAE Core Courses
The Department of Economics offers five foundational courses that are specially designed for MAE students. These courses are offered once per year, and they must be completed with a grade of B- or higher. The course sequence is designed for students to take ECON 500, 501, and 503 in the fall semester, and ECON 502 and 504 in the winter semester of their first academic year.
· ECON 500: Quantitative Methods | 4 credits | Term Offered: Fall
· ECON 501: Applied Microeconomic Theory | 4 credits | Term Offered: Fall
· ECON 502: Applied Macroeconomic Theory | 4 credits | Term Offered: Winter
· ECON 503: Econometrics for Applied Economics I | 4 credits | Term Offered: Fall
· ECON 504: Econometrics for Applied Economics II | 4 credits | Term Offered: Winter
The remainder of the MAE degree requirements is fulfilled with approved elective courses that can be taken for graduate credit. The program is designed to provide great flexibility in the choice of elective courses, allowing students to tailor their degree toward their area of interest and future career goals. Approved electives include 25+ courses in Economics; many courses offered in the mathematics and statistics departments within the College of Literature, Science and the Arts; and many more in the Ross School of Business, Ford School of Public Policy, School of Information, College of Engineering, and SEAS. The list of pre-approved electives includes more than 250 classes. Some of the most popular electives are courses in finance, technology & operations, statistics, data analytics, Python programming, accounting, data science, math, and public policy. Students must receive a C- or better in elective courses to receive degree credit.
A “concentration” is a coherent set of elective courses corresponding to an area of academic specialization or future career interest. Of the 18 elective credits, students complete a minimum of six credit hours in a focused area of study to fulfill this requirement. A concentration must be declared and approved by the start of the student's final term. The program is very flexible in the variety of concentrations that can be approved. Some examples are finance, accounting, statistics, mathematics, data science, data analytics, data management, financial engineering, business analytics, and international trade.
English Language Skills:
International students are strongly encouraged to take a course with the English Language Institute (ELI). Students who take ELI courses report an increased ability to converse in English and a stronger performance in academic classes. These classes are not required and may not be counted for credit toward the MAE degree, however they are beneficial for the success of a student in the program and beyond.
Time to Completion:
Most students complete the degree in three to four semesters. Students are not required to attend during the Spring and/or Summer term, although a few students do choose to.
International students are required to be registered for a minimum of 8 credit hours in a full term, and apply for the degree when all requirements have been fulfilled. Please refer to the International Center’s website for enrollment requirements.
The program is designed for students to take ECON 500, ECON 501 and ECON 503 in the fall semester of their first year and ECON 502 and ECON 504 in the winter semester of their first year. A typical three-semester schedule might look like this:
|FALL SEMESTER 1||WINTER SEMESTER 1||FALL SEMESTER 2|
|ECON 500 (4 credits)||ECON 502 (4 credits)||ELECTIVE (3 credits)|
|ECON 501 (4 credits)||ECON 504 (4 credits)||ELECTIVE (3 credits)|
|ECON 503 (4 credits)||ELECTIVE (3 credits)||ELECTIVE (3 credits)|
|ELECTIVE (1.5 credits)||ELECTIVE (3 credits)||ELECTIVE (1.5 credits)|