The Department of Economics at Rensselaer offers an innovative (stand-alone or co-terminal) M.S. 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 methods for sophisticated and large-scale data analysis. The program is also designed to help students gain a broader understanding of the economic and policy issues that are required for careers as an economic, financial, or market analyst.
The M.S. program is applied in nature, emphasizing applications of economic theory, econometrics, and mathematical modeling. Our faculty have expertise in: applied econometric methods, big data econometrics and analytics, health and medical economics, behavioral economics, economics of technology and innovation, economics of government regulations and policy, economics of financial markets, industrial organization and applied game theory, and economic growth. Our program offers a wide range of courses in these areas that students can use to customize their optimal curriculum.
Our program is structured such that students can complete the M.S. degree requirements in two semesters (fall and spring) or, if they wish, they can stay longer to take additional coursework and enhance their quantitative and economic modeling skills for their chosen career paths.
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, sciences, and engineering, as well as at the Lally School of Management and other departments within the School of Humanities, Arts, and Social Sciences.
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 (three hours driving or by train) to the major metropolitan areas of New York City and Boston, which provide additional opportunities for internships while enrolled in the program and careers upon graduation, and our excellent 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 enhance your educational experience.
For undergraduate students who are already at Rensselaer, we offer a Co-Terminal M.S. program in Economics, which, aside from developing disciplinary skills, also takes an interdisciplinary approach to preparing students for tackling a wide range of problems within an applied and quantitative framework. This stand-alone 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.
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. 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 participation will result in a program that takes longer than one year to complete. We are happy to work with you to craft your coursework and credit requirements to fit your individual needs and interests.
Students with an M.S. degree in Economics find career placements in a wide range of sectors. Specific examples of jobs available for economists with an M.S. include:
- Economic, financial, or management consultant and analyst in firms such as PricewaterhouseCoopers, Accenture, Abt Associates, AT Kearney, Analysis Group, National Economic Research Associates, Bain & Co., Deloitte, Booz Allen Hamilton, KPMG, and Cornerstone Research, among others.
- Analyst in banking and finance firms.
- Market research analyst or data scientist in technology firms such as Amazon, Microsoft, Facebook, Google, and IBM, among others.
- 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 and financial analysis for litigation.