Frequently Asked Questions
A specially tailored, stand-alone degree
We offer a specially tailored master’s program in a top-ten Economics Department. It is “stand-alone” in that it is separate from the PhD program. Indeed, there are not that many terminal master’s programs in economics offered in the US. This type of degree serves the needs for an advanced degree of professional economists, government officials and economic consultants. It can also be used to lay the groundwork for students who wish to pursue a PhD program.
A marketable degree valued by employers
See below on career opportunities for our graduates.
A rigorous preparatory degree for graduate programs
Our alumni have been admitted into PhD programs at Boston University, the University of Michigan, UC Davis and New School University. Others have also been admitted to law schools at Columbia University, Fordham University and the University of Illinois and public policy schools, such as the Maxwell School at Syracuse University.
Outstanding reputation of faculty, prestigious department and high quality of curriculum
The Economics Department at NYU has an impressive reputation, with world-renowned faculty and a high quality curriculum. A recent study published in the Journal of Economic Perspectives ranked the Economics Department at NYU as 6th in the nation.
Superb research resources
NYU has one of the largest open-stack research libraries in the nation, with a collection of over 4.2 million volumes.
Geographic location
We are located in New York, one of the world’s most dynamic cities — an international hub for global business, finance, communications, art, science and research. Within the city, NYU is located in the heart of Greenwich Village, a unique cultural and historic resource. Our location stands apart, offering extraordinary opportunities for both career advancement and personal enrichment during your time here.
Our alumni hold jobs in a variety of fields in the New York area, including investment banking, brokerage, management consulting and the non-profit sector. They are employed in an impressive array of businesses: AIG, Goldman, Sachs & Company, Bear Stearns, Bloomberg, Federal Reserve Bank of New York, Smart Money Magazine, Time Magazine, Citicorp, the Royal Bank of Canada, Credit Suisse, Economy.Com and the IMF. International alumni often return to their home countries to take up important policy advisory positions.
The master's program does not lead to the PhD program. The two programs are quite separate and students cannot transfer from the master's program to the PhD program at NYU. However, our master's program can be used to lay the groundwork for a PhD program, which an increasing number of our students have gone on to pursue. Indeed, the best qualified master's students sometimes take one or more PhD-level courses within the Department of Economics as credit towards their master's degree. In order to improve their math background, some students seeking to pursue a PhD also take graduate math courses. Students can choose to apply for our PhD program after completing the master's, although none of the master's work would transfer toward the PhD.
Yes. Because our program is now designated as STEM eligible, the Optional Practical Training (OPT) work authorization may be extended for an additional 24 months of work authorization (beyond the standard 12 months of OPT available to F-1 students). The STEM designation is indicated on new I-20 forms provided to matriculating F-1 students in the program. Please see the Office of Global Services page on STEM OPT for more information.
Why do you have two Master's programs? In what ways are they different?
The MS in Quantitative Economics has one fundamental goal, which is to equip you with the tools and techniques that are needed for you to become a researcher. The canonical example we have in mind is that of the entering doctoral Ph.D. student, and the program is designed to hone those skills that turn you into a top doctoral student. Those same qualifications will also equip you for a career in research in the tech or finance sector, if that's what you are after. Apart from this, the MS is math-heavy, and we will be looking for students who have a substantial amount of mathematics background, as we've already mentioned. The MS is also an accelerated program that lasts 10 months, starting around mid-July and ending in mid-May the year after.
Although the MA program also requires quantitative courses in its core curriculum, the MA in Economics has broader goals and is a more flexible program. For instance, you have the option to take graduate courses outside the Department, such as in the Stern School of Business (especially Finance), the Mathematics Department (NYU Courant), the NYU Center for Data Science and the Politics Department. A few exceptionally qualified students also take PhD courses in economics. You will not have that flexibility in the MS program. While some of our graduates from the MA program do go on to top-rated doctoral programs in economics, most of our students move into the private sector, including finance, banking and consulting positions, and other students also pursue careers in government and international organizations.
Think of the MA as building more applied, empirical and policy-oriented skills, and the MS as a program for strengthening core, research-related capabilities. But this is only a general rule, and neither program locks you into just one option or the other. For example, students who might initially be less strong in math may use the MA to improve their math background to pursue more advanced study in economics. Similarly, MS students may decide to pursue careers in tech, finance or public policy.
Finally, the MA program moves at a more regular pace and its duration is longer. Students start at the beginning of the fall semester (early September) and complete the program in three or four standard semesters, graduating after 16 months or 21 months, respectively. (Students take a break over the summer between years one and two or may undertake an internship.)
And in case you were wondering, yes, both programs are STEM eligible.
It is imperative to emphasize that the two programs are in no sense "vertically ranked". You are equally valued in each program but will encounter challenges in different dimensions and at a different pace. You CANNOT apply to both programs simultaneously. So please think carefully about which program better serves your particular needs.
Who should apply?
Admission is limited to students of outstanding promise. Our program has become increasingly competitive over the last 5 years, as we seek to emphasize the analytical rigor of our program. First and foremost, we aim to admit students with excellent training in economics and quantitative methods at the undergraduate level. More specifically, strong applicants will meet the following requirements:
Undergraduate Coursework
- Two calculus courses (or one calculus and one linear algebra course)
- One statistics course
- One econometrics course
- Intermediate Microeconomics and Intermediate Macroeconomics, plus four other economics courses
- Overall GPA ≥ 3.5
A strong application will have A grades (A-, A, or A+) in most of these courses.
Test Scores
- GRE Quantitative reasoning score > 80th percentile (= 160 on new scale; 750 on old scale)
- GRE Analytical writing score > 80th percentile (= 5.0)
- GRE Verbal reasoning score > 50th percentile (= 150 on new scale; 500 on old scale)
- If required*, TOEFL > 105 (internet-based version)
Please note that we only accept GRE scores. GMAT will not be accepted in place of the general GRE.
* Applicants must submit official TOEFL or IELTS scores unless they:
- Are a native English speaker; OR
- Are a US citizen or permanent resident; OR
- Have completed (or will complete) a baccalaureate or master's degree at an institution where the language of instruction is English.
For further guidance on the required English Language Proficiency exams, please visit the University’s Language Proficiency Testing Policy webpage.
We evaluate applications on their general merits. What is important is the total picture of an applicant's competence, not performance on an individual criterion. For example, we want to attract applicants who have completed a degree in mathematics, engineering or physics but who may have done only introductory but not necessarily intermediate economics courses. However, such applicants, if admitted into our program, have to complete intermediate economics courses before enrolling in our program (e.g. at any reputable university during the summer before the start of the fall semester).
The deadline to apply for fall admissions into the M.A. program in economics is January 15th. There is no spring admission.
Applicants are required to submit an online application — please see the GSAS Application Resource Center for all policies, instructions, and application FAQs.
For details on the specific requirements of the M.A. program in economics, as well as all other programs offered by the department of economics, please see the Economics Programs, Requirements and Deadlines page on the GSAS Admissions website.
Special note on submitting English Language Proficiency exams:
Submit TOEFL scores to GSAS through applying NYU's institution code 2596. TOEFL also requires that you select a department code as well. Please use the Economics Department code 84, as stated in the TOEFL 2022-2023 information bulletin. DO NOT use code 00 nor leave this field blank.
For IELTS, a code is not required; therefore, you must inform your test center to send your scores electronically to New York University, Graduate School of Arts and Science, New York, NY.
For further guidance on submitting required Test Scores, please review the Graduate School of Arts and Science’s Test Score webpage.
For specific guidance on the required English Language Proficiency exams, visit the University’s Language Proficiency Testing Policy webpage.
Applications are reviewed after the deadline. We do our best to inform applicants of our decisions on or before April 15th of the admissions year, but not all decisions are made by this date.
Please email us at econ.ma@nyu.edu for direct questions regarding the status of your application. Let us know as soon as possible if you have a deadline from another program and have not received a decision from us.
Yes, all applicants must take the GRE general test and ensure that official test scores are sent directly to GSAS (code 2596). GMAT will not be accepted in place of the general GRE.
For further guidance on submitting required Test Scores, please review the Graduate School of Arts and Science’s Test Score webpage.
Yes, all applicants must submit official TOEFL or IELTS scores unless they are:
Are a native English speaker; OR
Are a US citizen or permanent resident (Green Card holder); OR
- Have completed (or will complete) a baccalaureate or master's degree at an institution where the language of instruction is English.
Applicants will automatically have the English Language Proficiency Exam requirement waived if Admissions can verify at least one of the above criteria through the submission of a completed application.
For additional details on the University's English Language Proficiency requirement, please visit the Language Proficiency Testing Policy webpage.
As per Graduate School of Arts and Sciences (GSAS) and departmental policy, you must receive your undergraduate degree (U.S. baccalaureate or equivalent) from an institution recognized standing before enrollment. Please consult the GSAS Academic Transcripts page, or reach out to Graduate Enrollment Services for more details about this requirement.
No, we no longer offer spring admissions. There are only admissions in the fall semester of each year.
Students from other graduate schools must apply as new students. Admitted students may seek permission to transfer up to 8 credits for relevant courses with grades of B or better.
The program does not admit students who are not registered in a degree or certificate program.
We do not have a fixed target size for an incoming class. For Fall 2019, we had 66 incoming students out of 775 applicants.
We have a very diverse student body. Over the last five years, about half of the incoming students are international students. About 80 percent of incoming students are full-time students. The average age of incoming students is 25.
Yes. Unlike other schools, many of our MA courses begin at 6:20PM and a few begin at 4:20PM. All of our core courses are offered in the evening (many are also offered during the day as well). Courses generally meet once a week.
The MA degree in economics takes a minimum of three semesters full-time (usually Fall, Spring and Fall the following year). At this stage, no master's courses in our department are offered over the summer. However, some students choose to take courses elsewhere in the University (see below).
The time limit for completion of the degree is five years for all students (full- or part-time).
Students can apply a maximum of 8 credits taken outside the Department of Economics as credit towards the MA. Students may take relevant courses at NYU Stern, which is consistently ranked among the world’s best business schools. In addition to regular courses in economics, students take courses in finance, accounting, international business and operations research at Stern. Highly qualified MA students preparing for a PhD program may also take courses in the Graduate Department of Mathematics at the Courant Institute, which offers balanced training in mathematics and its applications in the broadest sense.
Students are not required to take Advanced Practical Training — however, this course is offered as an elective. Advanced Practical Training must significantly enhance students' ability to apply economic principles in practice. For successful completion, students must prepare a report in which they describe how the internship or practical training has enhanced their understanding of economics.
Courses are taught by both full-time and adjunct faculty who combine formal training in economics (PhD) with applied economics experience.
Please use the tuition look-up tool to find tuition and fee estimates.
Our program requires 32 credits in total. Additional costs may include health insurance, books or other materials, and living expenses.
While loans may be available, fellowships and assistantships are not available for master's students.
The Tuition Incentive Program (TIP) is an important source of financial aid. TIP provides tuition support to recipients of external awards. Students receiving external awards of $13,000 or more from recognized, academic sources of funding outside of the University can apply for matching tuition points up to the amount of their outside award. Students receiving external awards of less than $13,000 may apply for matching tuition points up to 50% of the amount of the external award. The Graduate School typically awards funds to between 20 and 30 students a year. We encourage students to apply.