Master of Arts in Economics
Graduates of the Master of Arts in Economics will have the knowledge and experience to qualify for a wide and rapidly expanding range of analyst positions in the private or public sectors. Graduates will be particularly well suited for positions requiring both modeling skills and substantial experience in the analysis and interpretation of firm-level, industry, or macroeconomic data. A unique feature of the program is a three-course core sequence in applied econometrics. These courses emphasize the application of modeling techniques and data analysis though the introduction of cases and projects. Through these courses students acquire a working knowledge of up-to-date powerful statistical software and broad experience in working with a variety of real data sets. Graduates of the MA program in Economics, in addition to holding highly competitive terminal credentials as analysts, will find their degree to be an outstanding bridge to doctoral work, should their career path lay in that direction. Students with particular interest in financial sector positions may elect the optional specialization in financial economics.
Curriculum
The MA in Economics with no concentration requires 30 graduate credit hours in economics and business.
The concentration in Financial Economics requires 33 graduate credit hours in economics and finance.
The core of the program with no concentration consists of three courses in economic theory and three courses in econometrics.
The concentration in Financial Economics adds a course in Financial Markets to this core. Students also take four electives, two of which may be a thesis.
Prerequisites
0 to 21 hours depending upon how many courses are waived and whether the student chooses the concentration in financial economics. Individuals who have not taken these courses or their equivalents may do so before applying to the program or take the courses after admission.
One of the following:
- MATH 200 Calculus with Analytic Geometry
- ECON 403 Mathematical Economics
All of the following :
- ECON 210 Principles of Microeconomics
- ECON 211 Principles of Macroeconomics
- ECON 301 Microeconomic Theory
- ECON 302 Macroeconomic Theory
- ECON 401 Introduction to Econometrics
- FIRE 520 Financial Concepts of Management (an additional prerequisite for the optional concentration in financial economics)
Required Core
18-21 credit hours, depending upon whether or not the student selects the optional concentration in financial economics
Required Core Courses |
Credits |
||
ECON 604 |
Advanced Microeconomic Theory | 3 hours | |
ECON 607 |
Advanced Macroeconomic Theory | 3 hours | |
ECON 612 |
Econometrics | 3 hours | |
ECON 614 |
Mathematical Economics | 3 hours | |
ECON 641 |
Time Series Analysis | 3 hours | |
ECON 642 |
Panel and Nonlinear Analysis | 3 hours | |
ECON 617 |
Financial Markets (an additional core course for the optional concentration in financial economics) | 3 hours | |
| Total Core Credits: | 18-21 hours | ||
Electives
12 credit hours - Students select electives in consultation with their advisor to construct a program that best meets their interests subject to the following guidelines.
With No Concentration |
Credits |
||
| Two electives in economics | 6 hours | ||
| Two electives in economics, business, or a related field | 6 hours | ||
Concentration in Financial Economics (no thesis) |
Credits |
||
| One approved elective in economics, finance, or other field | 3 hours | ||
| Three of the following four courses: | |||
ECON 623 |
Financial Market Anomalies | 3 hours | |
FIRE 623 |
Financial Management | 3 hours | |
FIRE 635 |
Investments and Security Analysis | 3 hours | |
FIRE 650 |
Derivatives | 3 hours | |
Concentration in Financial Economics (with thesis) |
Credits |
||
ECON 798-799 |
Thesis in Economics | 3 hours | |
| Two of the following three courses: | |||
ECON 623 |
Financial Market Anomalies | 3 hours | |
FIRE 635 |
Investments and Security Analysis | 3 hours | |
FIRE 650 |
Derivatives | 3 hours | |
| Total Elective Credits: | 12 hours | ||
Careers of our Graduates
Because economics teaches you how to analyze data and information and how to think strategically about business decision-making, an economics major with good training and the necessary interpersonal skills is highly competitive in the job market. The National Association of Business Economists reports that in a 1996 survey the median base salary of economists with masters degrees was $65,000 per year. "NABE also found that more than half of those business economists responding to the survey received additional compensation from their primary employer; the median amount reported was $15,000. Because of their broad analytical, quantitative and decision-making skills, students who major in economics are sought for a wide array of positions. A masters degree in economics offers the analytical skills for general business careers and the economic skills for banking careers. Students wishing to pursue academic careers will discover that the Master degree program builds a solid foundation for subsequent study toward the Ph.D. degree. Economics is excellent preparation for almost any job with the word "analyst" in its title - such as business, credit, economic, financial, market research, or risk analyst. Graduates of the Master degree program in Economics at Virginia Commonwealth University have pursued successful careers in economic analysis, business, banking and academia. The following lists give a sampling of positions held by our graduates, based upon a survey in 1995. (The financial economics program is a relatively new addition to our curricula, so the following positions reflect the experiences of the graduates from the general economics program.)
Financial Services
- Business Analyst
- Investment Banker
- Credit Policy Manager
- Stockbroker
- Assistant Branch Manager-Assistant Vice President
- Investment Banker
- Vice President, Payment Services
- Senior Vice President-Chief Economist
Business
- Statistician
- Senior Economist- Market Analyst
- Manager
- Director of Operations and Information
- Economist-Cash Management Analyst
- Assistant Commissioner for Administrative Services
- Manager of Strategic Planning and Development
Academia
- College of William & Mary
- University of Utah
- Virginia State University
- Virginia Union University
- Reinhardt College
- Henrico County Distance Learning Network