Purdue University offers an innovative online Master’s Degree in Economics designed for individuals with strong analytical backgrounds, such as individuals with undergraduate majors in the STEM (Science, Technology, Engineering and Mathematics) disciplines. In 2015, The Financial Engineer ranked the program in the top 10 percent of all MS degree programs in Economics (13th out of 157 programs). The program combines a first-year common core set of courses in Economic theory and Econometrics with a set of second-year courses that provides a concentration in either Applied Economics/Business or in Advanced Economic Theory.
Advantages of a MS Degree in Economics:
With expanding access to extensive datasets, both public and proprietary, there is increased value to individuals who have the tools to analyze and interpret economic data, including the ability to apply the results to decision making in managerial and public policy environments. The degree provides students who have strong quantitative skills a foundation for formulating and estimating economic models through the use of econometrics and other quantitative techniques. The Program then builds on this foundation either by offering specific applications of the analysis in various business settings (the Applied Economics/Business concentration) or by offering more in depth theoretical modeling skills (the Advanced Theory concentration).
Fully Online Program:
The program is designed so that it can be completed entirely online, with each class of entering students working together in common online sections of the courses. The online course content is exactly comparably to the in-class courses physically offered on the Purdue campus, as every course in the program has both in-class and online sections. Depending on the concentration chosen, the program provides decision-making skills helpful in managerial and policy making positions (Applied Economics/Business) or prepares students for entry into PhD programs in Economics (Advanced Theory. The program consists of fourteen courses that include three 3-credit-hour basic courses in theory and Econometrics, ten 2-credit-hour special topic courses, and one 1-credit-hour independent study supervised one-on-one with an individual faculty member. For more information on the fully online program, visit the Department of Economics' MS degree program website.
Optional Hybrid Online/On-campus Program:
STEM students from Universities around the world who are interested in pursuing a MS degree in Economics that combines online courses with an on-campus experience should consider the hybrid MS degree program. The hybrid program requires students to come to Purdue for the second year to finish their course requirements, with the option of completing a thesis. The hybrid program is recommended for students pursuing a PhD and for international students who would like to experience on-campus life at a top U.S. research university. Purdue University is rich in diversity; this past year Purdue ranked second in international student enrollment among all public United States colleges and universities. Coming to Purdue in the second year is of particular value to students preparing for admission into PhD programs in Economics or other advanced degree programs. For more information on the hybrid program, visit the Department of Economics’ MS degree program.
Combined Degree Option for Purdue STEM Majors
The combined degree program allows current Purdue undergraduate STEM majors (e.g., majors in Engineering (AAE, CE, ChE, ECE, IE, or ME), in Mathematics, or in Statistics) to count up to 9 credit hours toward completion of both a BS degree with a STEM major and the MS degree in Economics. This path can be particularly attractive to Purdue STEM majors who already have plans to obtain a Minor in Economics as undergraduate students. For more information on this combined degree program, visit the Department of Economic's MS degree program.