Department of Economics
Master of Arts in Applied Economics
The curriculum is designed to be completed with 35 hours of course work over three semesters beginning in early August and ending in December of the second year. Qualifying examinations in the core areas of economic theory and econometrics are given in January and May and must be passed with a minimum grade of "B-" in each area.
Requirements for the Master of Arts in Applied Economics
The Department of Economics offers a graduate program of study leading to a Master of Arts degree in Applied Economics. Students may choose the 35 hour course-based track (Option 1) that requires a research writing experience (ECO 694, ECO 731 or ECO 732) and the capstone data analysis courses (ECO 725 and 726), or the 30 hour research track (Option 2) that requires a literature review and a major research paper (ECO 694 and 695). The M.A. in Applied Economics with a concentration in financial economics is a variant of Option 1. An overall grade point average of 3.00 is required for graduation (with no more than 6 semester hours of C+ or C credit).
OPTION 1 (35 hours)
Core Knowledge Requirement (17 hours)
- ECO 619 Mathematical Economics (3)
- ECO 641 Microeconomics I (3)
- ECO 642 Microeconomics II (2)
- ECO 643 Econometric Methods (3)
- ECO 644 Econometric Theory (3)
- ECO 646 Macroeconomics I (3)
Research Specialization (4 hours)
- ECO 721 Empirical Microeconomics (4) or ECO 722 Time Series and Forecasting (4)
Electives (6 hours)
Electives may be earned with 500-, 600-, or 700-level economics courses or with approved graduate courses taken outside the department. Students are encouraged to take both ECO 721 and 722, so one becomes an elective. Other electives in economics include:
- ECO 518 American Economic History (3)
- ECO 723 Predictive Data Mining (1-4)
- ECO 731 Applied Policy Methods (2)
- ECO 732 Appraising Economics (2)
- ECO 741 Advanced Mathematical Economics (3)
- ECO 742 Advanced Microeconomics I (3)
- ECO 745 Econometric Theory I(3)
Students may also take approved courses in finance (MBA) or information systems (ISOM).
Research Writing Requirement (2 hours)
Students are required to take one of the following:
- ECO 694 Seminar and Research in Economics I (2)
- ECO 731 Applied Policy Methods (2)
- ECO 732 Appraising Economics (2)
Research Seminars (6 hours)
- ECO 725 Data Methods in Economics (3)
- ECO 726 Data Project in Economics (3)
Qualifying Examinations
As a requirement for graduation every student is required to successfully complete two qualifying examinations—one in economic theory and the other in econometrics. Both examinations are administered during the first two weeks of the spring semester, and students must pass each examination with a minimum grade of B- (2.7). Students who do not pass either or both examinations may retake the examination(s) one time.
Concentration in Financial Economics
To complete a concentration in financial economics, students within the 35 hour Option 1 program must take ECO 722 to satisfy the research specialization requirement, six elective hours chosen from approved MBA finance courses, and ECO 723.
OPTION 1 with a Concentration in Financial Economics
The MA degree in Applied Economics with a concentration in Financial Economics is a 35-hour program designed to prepare students for careers in the financial sector. Students are required to take ECO 722 (4 credit hours) and 6 elective hours chosen from approved MBA Finance modules/courses, and ECO 723. The Finance modules are offered in the Bryan School's evening MBA program includes MBA 605 - Financial Management (1.5 hours), MBA 625 - Creating Value Through Financial Policy (1.5 hours), and other Finance electives.
Incorporating an Internship into the MA Program
Students who choose the non-thesis option may incorporate a professional internship into their program ECO 691 (1.5 – 3.0 hours). Internships are usually for two to three months during the summer. In the past few years, students have had paid internships with Wake Forest University Medical Center, the International Trade Commission, American Express, the Environmental Protection Agency, Research Triangle Institute, Progress Energy, United Guaranty, SERVE (the Southeastern Regional Vision for Education) and the Federal Reserve Bank of Atlanta.
Three Semester Program
Fall Semester (first year) 15 hours
- August ECO 619 Mathematical Economics(3 hours)*#
- First 8 weeks ECO 641 Microeconomics (3 hours)*
- First 8 weeks ECO 643 Econometric Method (3 hours)*
- Second 8 weeks ECO 644 Econometric Theory (3 hours)*
- Second 8 weeks ECO 646 Macroeconomics (3 hours)*
Spring Semester (first year) 12 hours
- First 8 weeks ECO 642 Microeconomics II (2 hours)*
- Semester ECO 721 Empirical Microeconomics (4 hours)**
- Semester ECO 722 Time Series and Forcasting (4 hours)**
- Semester ECO 732 Appraising Economics (2 hours)#
- Semester ECO 694 Research Seminar I (2 hours)*##
Fall Semester (second year) 8 hours
- First 8 weeks ECO 725 Data Methods in Economics (3 hours)*
- Second 8 weeks ECO 726 Data Project in Economics (3 hours)*
- Semester ECO 723 Predictive Data Mining (2-4 hours)
- Semester ECO 731 Applied Policy Methods (2 hours)#
- Modules/courses in approved electives.
* Required.
** Students must take one of these two courses. Both courses are recommended.
# ECO 619 meets for two weeks in August prior to the start of the fall semester.
## All students must complete one of the following: ECO 694, ECO 731 or 732.
Elective Options: Students may take finance courses in the Bryan School’s MBA program, information systems courses in the Bryan School’s Master of Science in Information Technology and Management program, or may consider graduate geographic information systems (or other appropriate elective) courses from the Department of Geography, health courses from the Department of Public Health Education, statistics courses from the Department of Mathematics, gerontology courses from the interdisciplinary Masters program in Gerontology, educational research courses from the School of Education, or other approved electives from the University’s graduate programs. MBA courses and MSITM courses require a laptop computer and have an added tuition surcharge.
Option 2 (30 hours)
Students may elect the 30-hour track that requires 24 hours of course work plus 6 hours of an independent research project. Students following the independent research track are required to prepare a literature review (ECO 694, 2 credit hours) that complements and is incorporated into their independent research (ECO 695, 4 credit hours). The literature review should be completed prior to the third semester of study. ECO 695 substitutes for Data Analysis and Methods (ECO 725 and 726) in this track.