Students can gain exposure to advanced economics topics and an understanding of global and national economic policies with a master's program in economics. These programs enable the students to collaborate in various internships, projects, and field programs to understand the real-world working experience.
Master's in Economics Programs Available in Chicago
The University of Illinois
The University of Illinois at Chicago offers three master's programs in economics:
- MA in Economics,
- MA in Applied Economics,
- MBA/MA in Economics dual degree.
An MA in Applied Economics can include courses related to mathematical, probability, and statistical methods for economics, applied microeconomics, and applied econometrics. While an MA in Economics explores various advanced topics related to microeconomic and econometrics. Both programs require 40 semester hours, including a thesis or course work.
In a dual MBA and MA in Economics program, users can learn topics related to management and leadership along with advanced economics courses. The program requires 72 semester hours to complete.
A master's degree in economics is available at the College of Arts and Sciences at Roosevelt University. This program introduces concepts like macroeconomics and microeconomics, econometrics, mathematical concepts and, quantitative analysis. The students will have an opportunity to collaborate with local government offices, other non-profit and for-profit organizations through an internship. Students are required to maintain a minimum GPA of 3.0 throughout the program, and those who receive more than two C grades will be dropped from the program.
The University of Chicago
A Master of Arts Program in Social Sciences (MAPSS) Economics concentration is available at the University of Chicago. This program is designed for students with extensive knowledge of advanced mathematical, economics, and statistical skills. Students can expect to study price theory, concepts related to theoretical economics and inequality, macroeconomics, and the theory of income. Students need to complete two of the three core courses with a B+ academic grade and all other courses with a minimum grade of B to pursue this program till the end.
DePaul University offers a master's program in economics and policy analysis for students looking to develop strong economics and data analysis skills. This STEM-designated program provides an opportunity to participate in a 12-16 week fellowship in various organizations in Chicago to establish real-world working experience. The typical duration of this degree for full-time students is five quarters, and six quarters for part-time students. During this period, students are expected to earn 48 credits with 12 courses related to economics and data analysis.
The University of Chicago Booth School of Business
At this school, students can pursue an MBA with a concentration in economics. In this master's program, the students get a chance to explore concepts related to microeconomics, macroeconomics, analyzing an organization's performance, and understanding national and global economic policies and structure. This school hosts various programs to involve students in discussions with economists to develop advanced knowledge in the field. Additionally, students can learn organization management skills and participate in leadership training programs.
Applicants are required to hold an undergraduate degree to gain admission into a master's degree in economics, however an economics background is not necessary. If a bachelor's degree is held in another field, applicants may be required to complete some prerequiste courses. Students will need to submit GRE/GMAT scores along with official transcripts of all the previously attended schools. Additionally, schools often also request a resume, a statement of purpose, and two to three recommendation letters.
There are a number of schools in Chicago that offer master's degrees in economics in both full-time and part-time formats. This is a highly competitive field of study and students may be required to maintain minimum grades throughout the programs.