The Department of Economics at Rensselaer offers an innovative STEM-designated (stand-alone or co-terminal) M.S. Economics degree program that students can use to enhance their understanding of the fundamentals of advanced economic analysis, application of mathematical methods and economic modeling, and the use of econometric and quantitative methods for sophisticated data analysis. The program is designed to help students gain a broader understanding of the economic and policy issues that are required for professional careers in various industries, consulting and government. The program’s structure and coursework also provide rigorous foundation for those students who may want to pursue more advanced graduate studies in Economics, Management, Finance, Law, and other areas.
Program Overview
Our STEM-designated M.S. program is applied and quantitative-focused, emphasizing applications of economic theory, econometrics, and mathematical modeling. Our faculty have expertise in areas such as: applied econometric methods, data analytics, big data econometrics, health and medical economics, international economics, behavioral and experimental economics, economics of technology and innovation, economic policy, economics of financial markets, applied game theory, and economic growth. The M.S. program offers a wide range of courses in these areas that students can choose from as electives and customize their curriculum.
Program Highlights
Our M.S. program is structured so that students can complete the degree requirements in two-semesters, Fall and Spring.
Interdisciplinary Educational Experience
As Rensselaer is a highly ranked STEM and interdisciplinary institution, we are committed to offering our students the opportunity to take courses in other schools on campus to facilitate an interdisciplinary educational experience. There is abundant opportunity for interested students to take courses and interact with faculty and other students from complementary departments in mathematics, computer science, sciences, engineering, other departments within the School of Humanities, Arts, and Social Sciences, and at the Lally School of Management.
Co-Terminal M.S. in Economics
For undergraduate students who are already at Rensselaer, we offer a Co-Terminal M.S. Economics (STEM-designated) program. Aside from developing disciplinary skills in Economics, the program also takes an interdisciplinary approach to preparing students for tackling a wide range of problems within an applied and quantitative framework.
Current Rensselaer Graduate Students
Our STEM-designated M.S. degree may also be of interest to current Ph.D. and M.S. students at Rensselaer who may wish to add rigorous training in economics to their fields of study to expand their professional career opportunities as well as pursue more advanced degrees in Economics, Management, Finance, Law and other areas.
Flexible Schedule Tailored towards Student Interests
We have developed a flexible M.S. in Economics program that allows students to craft their own areas of specialization by offering variety of electives to choose from. Our M.S. program is also flexible enough for those students and working professionals who may wish to complete the degree on a part-time basis – with the knowledge that part-time degree participation will result in a program that takes longer than two-semesters to complete. We are happy to work with you to craft your coursework and credit requirements to fit your individual needs and interests.
Welcoming and Supportive Environment
We offer a welcoming and stimulating environment for students to study and work that is supported by exceptional library and computational facilities on campus. Rensselaer’s diverse student body provides an ideal setting in which to pursue your graduate studies. We are located relatively close (about three hours driving, by train or by bus) to the major metropolitan areas of New York City and Boston, which provide opportunities for careers upon graduation. Our advising staff will work closely with students to provide help in these dimensions. Finally, our program is structured to foster close relationships between the faculty and students to further their educational experience.
Stem-Designation
This allows international students additional time to gain work experience beyond their initial practical training period.
Coursework
Required coursework
- ECON 6010 – Applied Microeconomics & Public Policy. Credit Hours: 3.
- ECON 6030 – Data Analysis in Economics & Finance. Credit Hours: 3.
- ECON 6130 – Economics of Growth and Innovation. Credit Hours: 3.
Electives
Students can choose from a wide range of electives.
- Elective courses at the 4000- or 6000- level offered by the Economics Department.
- Students can also choose from appropriate 4000- or 6000-level elective courses from complementary programs such as Mathematics, Computer Science, Engineering, or Management.
- Independent study and research.
Please see the RPI catalog for more details regarding coursework requirements, electives, the number of credits that should be in Economics versus non-Economics courses, as well as those that should be at the 4000-level or the 6000-level.
Graduate Student Handbook
Click here for the Economics Graduate Program Handbook.
Program Outcomes
We recognize that students enrolling in an M.S. in Economics degree can have multiple objectives, and our program is designed to accommodate these different trajectories. For example, students may desire to obtain a higher level of quantitative skills beyond their undergraduate degree in order to enhance their opportunities to work in industry, consulting, or state and federal government agencies. Or, they may wish to increase their background in quantitative methods, statistics, econometrics, and mathematical modeling to potentially pursue a doctoral degree in economics, finance, or management, among others. Other students may wish to keep their options open and decide later on which career path to pursue.
Keeping these alternative objectives in mind, we have developed a flexible M.S. in Economics program that allows students to craft their own areas of specialization.
After Graduation
Students with an M.S. degree in Economics find professional opportunities and career placements in a wide range of sectors. Specific examples of jobs available for economists with an M.S. degree include:
- Economic, financial, or management consultant and analyst.
- Analyst in banking and finance firms.
- Market research analyst or data scientist in technology firms.
- Regulatory policy and project evaluation analysts in state and federal government, NGOs, and think tanks.
- Research analysts in universities, government agencies, and research centers and institutions.
- Economists and research analysts in law firms to support economic, legal and financial analysis for litigation.
Contacts
If you have questions regarding our M.S. Economics program, first check the Office of Graduate Admissions website. Most of the time, students find answers on this website. If you still have questions after checking the Graduate Admissions website, feel free to contact Professor Billur Aksoy, graduate program director, at aksoyb3@rpi.edu.