A typical program of study for those wishing to focus upon applied, empirical and policy-related subjects is provided below for illustrative purposes. For students wishing to prepare for a Ph.D. program in Economics, the program of study will look quite different.
Program
Fall, Year 1
12 credits
| Course | Credits |
|---|---|
| ECON-GA 1001 Math for Economists | 3 |
| ECON-GA 1005 Macroeconomics | 3 |
| ECON-GA 1101 Applied Stats and Econometrics I | 3 |
| Elective | 3 |
Spring, Year 1
12 credits
| Course | Credits |
|---|---|
| ECON-GA 1003 Microeconomics | 3 |
| ECON-GA 1102 Applied Stats and Econometrics II | 3 |
| Elective | 3 |
| Elective | 3 |
Advanced Practical Training
Advanced Practical Training aims to enhance students' ability to apply economic principles to real-world situations in a practical setting. For successful completion, students must prepare a report in which they describe how the internship or practical training has enhanced their understanding of economics. The course in Advanced Practical Training is not required for Master's and PhD students in Economics. However, this course is offered in case students are interested in taking it as an elective. Please note that registering for this course does not give you CPT. You must request CPT from OGS.
Semester 3: Fall, Year 2
6 credits
| Course | Credits |
|---|---|
| Elective | 3 |
| Elective | 3 |
Semester 4: Spring, Year 2
2 credits
| Course | Credits |
|---|---|
| Capstone: Special Project in Economic Research |
2 |
Note: Students can complete the program in three semesters by taking the Special Project alongside the two electives in the third semester.
ECON-GA 1001 Math for Economists
3 credits
Applications of mathematics to economics: functions, simultaneous equations; linear models and matrix algebra; determinants, inverse matrix, Cramer’s rule; differentiation and optimization of functions of one or more variables; quadratic forms, characteristic roots and vectors, constrained optimization; interpretation of the Lagrange multiplier. Techniques applied to examples from the theory of the firm and consumer behavior.
ECON-GA 1003 Microeconomics
3 credits
Applied microeconomics relating to the firm in various markets and household behavior.
ECON-GA 1005 Macroeconomics
3 credits
Macroeconomic theory applied to aggregate supply and demand and their components, designing and implementing macroeconomic policy goals and forecasting GDP and its components.
ECON-GA 11001 Applied Stats and Econometrics I
3 credits
Introduction to probability theory and statistics. Topics include discrete and continuous probability distributions, normal distribution, the use of t-statistics, hypothesis testing, confidence intervals, and analysis of variance. Familiarity with a regression software package is mandatory.
ECON-GA 11002 Applied Stats and Econometrics II
3 credits
Introduction to single-equation regression estimation; ordinary least-squares estimation, confidence intervals, and significance testing; lags, dummy variables; multicollinearity; autocorrelation; heteroscedasticity and variable selection. Students are required to use a standard computer regression package to test a model of their choosing.
The MA program offers an incredible degree of flexibility. Students can take courses in the Stern School of Business (including Finance courses), the Courant Institute of Mathematical Sciences, as well as the Center for Data Science. In addition, the program houses a wide range of electives spanning multiple fields, such as:
- Advanced Mathematical Economics
- Advanced Microeconomics
- Macroeconomic Theory II
- Advanced Econometrics
- Machine Learning
- Advanced Game Theory
- Money and Banking
- Foundations of Financial Economics
- Corporate Finance
- International Finance
- Financial Econometrics
- Monetary Theory and Policy
- Mathematical Foundations for Computational Social Science
- Data Tools for Computational Social Science
- Dynamic Models for Computational Social Science
- Machine Learning for Computational Social Science
- Empirical Research Methods
- Economic Development
- Africa in the World Economy (taught by Bill Easterly)
- Behavioral Economics
- Economic Crises in the 21st Century
- Economic Analysis of Law
- Income Distribution in the U.S.
In recent years, our graduates have entered Ph.D. programs in Economics at Princeton, Columbia, Cornell, Michigan, and NYU, to name a few.
In the week before the start of term, we offer a seminar to advise students on preparing for a Ph.D. in Economics. We cover strategies on what universities to apply to and specify the advanced economics and graduate-level math courses that students should take.
Students who are preparing for a Ph.D. are encouraged to take Advanced Mathematical Economics and Advanced Microeconomics in addition to, or instead of, the corresponding core courses. We also recommend that students take graduate courses in Mathematical Analysis at Courant. Exceptionally qualified students may also apply to take Ph.D. courses in Economics.
The M.A. degree in economics requires a minimum of three semesters of full-time study. The time limit for completion of the degree is five years for both full- and part-time students.
Formal requirements for the Master of Arts degree in economics are the satisfactory completion of graduate studies totaling at least 32 points and the writing of a special project report. In order to graduate, students must complete at least 24 points within the Department of Economics at New York University Graduate School of Arts and Sciences. (Transfer credits do not count toward this requirement.) Most courses carry 3 points; the special project generally carries 2 points. Students must have a cumulative GPA of at least 3.0 (B) with 18 points of B (3.0) or better. Students may take 8 points outside the Department of Economics.