Are you interested in pursuing a master's degree in economics but don't know where to start? Look no further than a Master of Arts in Applied Economics! This post will serve as a comprehensive guide to M.A. Applied Economics, including its benefits, prerequisites, career prospects, and more.
What is M.A. Applied Economics?
M.A. Applied Economics is a graduate-level program that prepares students for a career in economics. The program focuses on applying economic theory and concepts to real-world problems in fields such as business, government, and nonprofit organizations.
Why Pursue an M.A. Applied Economics?
An M.A. in Applied Economics provides students with valuable skills that can be applied in a variety of careers. Some of the benefits of pursuing this degree include:
A comprehensive understanding of economic theory and its application to real-world issues
Practical skills such as statistical analysis, data interpretation, and policy analysis
Strong critical thinking and problem-solving abilities
Enhanced career prospects and earning potential
Prerequisites for M.A. Applied Economics
Most M.A. Applied Economics programs require students to have a bachelor's degree in economics or a related field. However, some programs may consider applicants with a degree in a different discipline if they have relevant coursework or work experience.
Other common prerequisites for this program include:
Strong quantitative skills, including coursework in calculus, statistics, and econometrics
Strong written and verbal communication skills
Knowledge of microeconomics and macroeconomics at an intermediate level
Core Courses in M.A. Applied Economics
The core curriculum for an M.A. Applied Economics program typically includes courses in microeconomics, macroeconomics, econometrics, and economic theory. Some of the common core courses include:
Microeconomic Theory
Macroeconomic Theory
Econometrics
Applied Econometrics
Public Finance
International Trade
Development Economics
Elective Courses in M.A. Applied Economics
In addition to the core courses, students in an M.A. Applied Economics program can choose from a variety of elective courses to specialize in a particular area of interest. Some of the common elective courses include:
Financial Economics
Health Economics
Environmental Economics
Labor Economics
Industrial Organization
Urban Economics
M.A. Applied Economics vs. M.A. Economics
While both degrees focus on economics, there are some differences between M.A. Applied Economics and M.A. Economics programs. M.A. Applied Economics programs tend to be more practical and focus on applying economic theory to real-world problems. In contrast, M.A. Economics programs tend to be more theoretical and focus on developing a deeper understanding of economic theory.
Career Prospects after M.A. Applied Economics
Graduates of an M.A. Applied Economics program have a wide range of career options in fields such as:
Business and Finance
Government and Public Policy
Nonprofit Organizations
Consulting Firms
Research Institutions
Some of the common job titles for M.A. Applied Economics graduates include:
Economic Consultant
Policy Analyst
Data Analyst
Market Researcher
Financial Analyst
Economic Development Specialist
According to the Bureau of Labor Statistics, economists with a master's degree had a median annual salary of $105,020 in 2020. The job outlook for economists is also positive, with a projected 6% growth rate from 2020-2030.
Advantages of Studying M.A. Applied Economics Online
Many universities now offer M.A. Applied Economics programs online, providing students with flexibility and convenience. Some of the advantages of studying M.A. Applied Economics online include:
Flexibility to study on your own schedule
No need to relocate or commute to campus
Access to the same quality of education as on-campus programs
Opportunities to connect with classmates and professors through online forums and discussion boards
Top Universities Offering M.A. Applied Economics
Here are some of the top universities in the United States that offer M.A. Applied Economics programs:
University of Michigan - Ann Arbor
University of California - Santa Barbara
Johns Hopkins University
Georgetown University
American University
University of Illinois at Urbana-Champaign
Duke University
University of Maryland - College Park
Boston University
University of Virginia
Financial Aid and Scholarships for M.A. Applied Economics Students
Many universities offer financial aid and scholarships to M.A. Applied Economics students to help offset the cost of tuition and other expenses. Some common types of financial aid include:
Grants
Loans
Work-Study Programs
Scholarships and Fellowships
Be sure to check with your university's financial aid office for more information on available financial aid options.
Frequently Asked Questions (FAQs)
What is the difference between M.A. Applied Economics and an MBA?
M.A. Applied Economics programs focus on economics and its application to real-world problems, while MBA programs focus on business administration and management.
Can I pursue an M.A. Applied Economics with a degree in a different field?
Some M.A. Applied Economics programs may consider applicants with a degree in a different field if they have relevant coursework or work experience.
What job opportunities are available to M.A. Applied Economics graduates?
M.A. Applied Economics graduates can pursue careers in business, government, nonprofit organizations, consulting firms, and research institutions.
What is the median salary for economists with an M.A. degree?
According to the Bureau of Labor Statistics, economists with a master's degree had a median annual salary of $105,020 in 2020.
What are the advantages of studying M.A. Applied Economics online?
Studying M.A. Applied Economics online provides students with flexibility and convenience, as well as access to the same quality of education as on-campus programs.
M.A. Applied Economics is a two years Master Level course. To solve the problems occurring in the the public and private sectors Applied Economics encouraging the application of economic analysis. To bring economic theory nearer to reality it particularly fosters quantitative studies, the results of which are of use in the practical field. The course is divided into six semesters and make use of methods of mathematics, statistics and operations research. Candidate who wants to join this course should have an interest in current social and political activities sincerity, commitment and devotion.
Various Types of Jobs after M.A. Applied Economics
Various Areas for M.A. Applied Economics
NOTE:- Students who are admitted must bring all the original documents to with them to the Institute Campus. Students failing to present all relevant original documents upon request may be denied admission or later told to leave the university.
Given below are few of the important highlights of the program.
Program Full Name | MASTER OF ARTS IN APPLIED ECONOMICS |
Program Level | Degree |
Duration of the Program | 2 Years |
Examination Type | Year |
Eligibility | Graduation or its Equivalent |
Admission Process | Entrance Exam and Merit Based |
Average Program Fee | Upto Rs. 1 Lakh |
Syllabus of Arts as prescribed by various Universities and Colleges.
Paper Code | Subjects of Study |
1 | Core Papers |
2 | Microeconomic Theory |
3 | Macroeconomic Theory |
4 | Quantitative Techniques for Economic Analysis |
5 | Development Issues of Indian Economy (With special reference to Kerala) |
6 | Operations Research for Economic Analysis |
7 | International economics |
8 | Financial Markets |
9 | Econometrics |
10 | Mathematical Economics |
11 | Optional Papers |
12 | Computer Application in Economic Analysis |
13 | Energy Economics |
14 | Development Economics |
15 | Security Analysis and Portfolio Management |
16 | Environmental Economics |
17 | Applied welfare Economics |
18 | Population Studies |
19 | Public Economics |
20 | Agricultural Economics |
21 | Industrial Economics |
22 | Health Economics |
23 | Development of Economic Ideas |
24 | Transport Economics |
25 | Business Economics |
26 | Project formulation and Evaluation |
Mentioned below are some states in India that offer the program.