Master of Arts in applied economics

A Master of Arts in applied economics is designed to equip you with the essential knowledge and skills needed to navigate the field of economics. You will start with core courses in microeconomics, macroeconomics, statistics, accounting and data analysis. Through this foundational coursework, you will develop a solid grasp of key economic models and tools for econometric investigation and analysis. You will then choose six elective courses, allowing you to explore a broad range of contemporary economic problems, practical applications and advanced tools.

Through its flexibility and broader applied economics training, the M.A. degree program at SMU addresses the needs of two types of students: those who want advanced training to strengthen their skills in economics, and those who want a strong economics background to complement another field.

With an increased reliance on quantitative methods for analyzing business trends and policy issues, the applied economics program at SMU will help you gain valuable job skills to achieve any of the following goals:

• Qualifying for jobs in corporations or private institutions that require greater expertise in economic, analytical and statistical tools beyond what’s gained by an undergraduate degree alone
• Obtaining the background in economics and mathematics required to gain admission to a high-quality economics Ph.D. program
• Studying economics as a complementary field to another area of expertise such as law, finance, political science, public health, energy, marketing, statistics, sociology and more

In today’s data-driven world, the demand for expertise in big data and data analysis is growing, and employers seek out individuals who understand and can apply this knowledge. Through a range of econometric and data analysis courses, the Master of Arts from SMU equips you with highly marketable skills to set you apart in today’s job market. Salary-wise, the Bureau of Labor Statistics cites the median pay for an economist at $115,440 a year, with the top 10% earning more than $212,710 a year (May 2024).

The M.A. in applied economics focuses on practical, data-driven analysis for corporate and policy roles, emphasizing quantitative skills and computer literacy. It is designed to prepare students for data-driven, decision-making roles in business and finance.

In contrast, the M.A. in economics generally places a heavier emphasis on broader economic theory. SMU only offers an M.A. in economics to students currently in the Ph.D. program in economics at SMU.

The law and economics track is specifically for current lawyers who seek to understand microeconomic analysis of problems commonly encountered by lawyers and judges, and econometric analysis often encountered by the courts. This degree is particularly relevant for competitive legal fields like antitrust, corporate or intellectual property law by cultivating skills in critical thinking, cost-benefit analysis and logical reasoning.

The demand for workers with a background in applied economics is growing with the increasing complexity of doing business in a global economy. Employers, particularly in business and government, continuously seek out professionals who have strong data analysis skills to aid in providing them with the information they need to make crucial business decisions. These skills can apply to roles in many sectors including law, finance, political science, public health, energy, marketing, statistics, sociology and more.