Master's in Applied Economics & Finance

Dec 09, 2019

Applied economics and finance programs are meant to teach students how to apply economic and financial theories to real-life scenarios. Graduate degree programs that concentrate on applied economics and finance can be useful for those who want to pursue careers as policy analysts, business economists, and market forecasters.

Common Courses in Applied Economics and Finance Master's Degree Programs

Master's degree programs in applied economics and finance might include around 30 credit hours worth of courses. In some programs, students can take these courses online, on Saturdays, or late evenings.


A course that covers microeconomics may focus on aspects of the theory as well as analysis. When enrolled in this type of course, students may learn about the economic models that can be used to study the choices made by consumers and investors. A few of the other topics that may be covered include business strategies, market structures, and welfare economics.


A macroeconomics course might focus on theory, analysis, or integrate forecasting. A course of this nature is generally designed to teach students the necessary skills for creating macroeconomic policies through the use of well-interpreted data. Some other topics that students may be exposed to are fiscal policy, economic growth, inflation, and macroeconomic policy limitations.


For an econometrics course, students may need a strong background in statistics or data analysis. This is because this course is meant to teach students how to use statistical and analysis tools in the estimation of economic relationships. Students might also learn about time-series techniques, serial correlation, and estimation methods.

Financial Economics

A financial economics course might introduce economic and financial theory as a practical application. Topics covered might include borrowing constraints, security valuation, and risk. A few of the other topics generally covered by these courses include market imperfections, security valuation, and discounted cashflows.


Courses like these are generally featured in programs that accommodate students with no previous knowledge of statistics. They may focus on certain statistical methods like linear regression or cover business-related statistics in general. Some of the topics that may be included in these courses are interval estimation, statistical software, and regression analysis.

General Admission Requirements for Master's Degree Programs in Applied Economics and Finance

To be considered for admission into graduate degree programs related to applied economics and finance, applicants will need a bachelor's degree from an accredited college or university. Some programs may require the prospective student's degree to be in economics or previous academic knowledge of economics or finance. A few programs may require that applicants have a minimum GPA of 3.0 when applying. When submitting an application, prospective students may also need to submit supporting documents like school transcripts, letters of recommendation, a current resume, a statement of purpose, and passing scores on the GRE or GMAT exams.

Master's degree programs that focus on applied economics and finance can prepare students for careers such as market forecasting and policy analysis. These programs require around 30 credits worth of coursework and can include course topics such as financial economics, statistics, and microeconomics.

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