The economics field deals with money and financial trends.
A master's degree in economics is a way for students to move into a job working in financial or economic research for the government or a research institution. This degree may also be a stepping stone to a Ph.D. in economics, particularly if a student doesn't have a strong background in the field. Completing a master's degree generally takes anywhere from 12 to 18 months, although the exact length depends on the school's requirements. It is possible to complete a master's of economics online, as some schools do offer a long-distance program.
Instructions
1. Finish a bachelor's degree. You will not be able to begin graduate school work until you have received a bachelor's degree from an accredited school, though you don't have to go directly to graduate school after finishing your undergraduate degree. According to Davidson University, it's common for students who are pursuing a master's in economics to work in economic research or in the economics department of a place like a bank for a few years before beginning graduate school. This experience will help you learn about economics and ensure that you want to pursue a career in the field, but it's not mandatory. Graduate programs will also accept student who have just finished undergraduate work.
2. Research programs and select several schools to apply to. Use resources such as The Princeton Review or the U.S. News and World Report's annual rankings of the best schools in the country. U.S. News also has rankings for specific specialties, like the best graduate programs in microeconomics. Ask for input from economics professors at your college or any acquaintances you have who work in the economics field. Read each school's website carefully to make sure they offer courses in the specialty you're interested in and to make sure that they offer a master's program and not just a Ph.D. option.
3. Apply to the programs you've chosen. In order to apply, you'll need to provide transcripts of your college grades. You'll also need to take the GREs, a standardized test that is required by most graduate admissions committees. Get letters of recommendations from people who can vouch for your intelligence, such as college professors. A personal statement or essay may also be required. According to Davidson, an applicant's grade point average and GRE scores are the most important element that admissions committees look at, with letters of recommendation being the next most important thing and the personal statement being the least important.
4. Complete the coursework that is required of you, which you can find out about in detail from a counselor at your graduate school. Meet with your counselor at the beginning of your program so she can help you find courses you're interested in as well as tell you what courses you are required to complete. Each school has different requirements, but according to Davidson, students will generally take classes in microeconomics and macroeconomic theory. You may also be required to take a mathematics course. You need to have passing grades in all your coursework to receive your master's.
5. Complete a thesis project if necessary. A thesis is a research project that each student designs for himself with the help of a faculty adviser. At the completion of the research, the student writes a paper and may need to present his research to a thesis committee. Some programs may require each student to complete an internship or pass a comprehensive final exam in place of or in addition to a thesis. Once you have fulfilled the requirements that your program has given you, you will receive your diploma.
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