The Master of Science in Applied Economics (MSAE) degree is for individuals seeking careers as economic, market or financial analysts in industry, government, or the financial sector. The program provides students the solid grounding in economic theory and the working knowledge of advanced quantitative methods needed to succeed as business economists, market or financial analysts, economic researchers, government staff economists, or economic consultants.
In contrast to traditional, purely academic programs in economics, Marquette's MSAE program concentrates on developing and applying practical skills which can be used to solve real problems confronting business and government. The curriculum is designed to produce practitioners who can design, develop and interpret economic models. Courses emphasize the application of economic theory and the use of quantitative techniques rather than their theoretical underpinnings. Communication skills also are stressed through frequent written and oral presentations and applied projects. The program is usually completed in three or four semesters.
Credits minimum
Months to complete
Specializations
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For a graphical representation, see the curriculum flowchart. |
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The MSAE program requires a minimum of 30 credit hours of graduate work, a non-credit master's essay and a final oral examination. No formal master's thesis is required.
The 30 hours include 12 hours of required core courses in economic theory and quantitative analysis, an additional 12 hours of coursework relating to a chosen area of specialization, and 6 hours of electives.
ECON 6560 Applied Econometrics
ECON 6561 Applied Time-Series Economic Forecasting
ECON 6503 Microeconomic Theory and Applications
ECON 6504 Macroeconomic Theory and Applications
ECON 6998 Master's Professional Project & Comprehensive Exam
Specializations on this page apply to students starting the program in Fall 2021 or later. Students starting earlier should refer to the .
Business Economics Specialization
The Business Economics Specialization is suitable for individuals seeking careers in the private sector in industries such as utilities, services and manufacturing. It combines economics courses with such business courses as managerial accounting, marketing management, and operations management.
CORE Plus:
ACCO 6200 Managerial Accounting for Decision Making
6 to 9 credit hours chosen from:Ó˦
Skills courses, up to three 1-credit courses from the following:
6‑9 elective hours in Economics
Applied Economic Analysis Specialization
POLICY FOCUS
CORE Plus:
Choose four of the following courses:
6 additional credits from business, economics, mathematics/computer science or social sciences
SELF-DIRECTED OPTION
CORE Plus:
18 additional credits, at least 12 credits must be in Economics and up to 6 credits in business, mathematics/computer science or social sciences.
Business and Managerial Analytics Specialization
CORE Plus:
MBA 6100 Business Analytics
Nine credits from the following, with no more than six credits in any area:
Financial Economics Specialization
The Financial Economics Specialization is appropriate for those interested in a career in the financial services sector including banks, insurance companies, and securities markets. It blends such economics courses as monetary theory and policy with courses in financial policy and an advanced seminar in finance.
Core Plus:
| ACCO 6200 | Managerial Accounting |
| ECON 6580 | Monetary Theory and Policy |
| FINA 6200 | Financial Management |
One 3-credit graduate level finance course approved by MSAE director
AND Six elective credits in Economics
Note that these courses (excluding ECON) are standard courses in the MBA Program and in some cases prerequisite coursework may be required.
Marketing Research Specialization
The Marketing Research Specialization is designed for students interested in a career in marketing research and market analysis, working either for marketing research consulting companies, or in marketing research departments of companies in the service, manufacturing or financial sector. It combines the applied econometric and forecasting courses taught in the economics core with courses in marketing management, marketing research, and other traditional marketing areas.
CORE Plus:
Choose 6 credits from MBA Marketing Courses
This also includes up to 3 credits of the following 1-credit courses
6 credits in ECON courses
[1] Non-economics courses may require additional prerequisites not counted as part of the 30 hours of required course work.
Ó˦ Other business electives maybe taken with the consent of program director.
As one of many methods of assuring that the goals of our educational mission are successfully met, the college regularly and systematically engages in the assessment of a variety of competencies. As part of this assurance of learning, each program defines and collects data on learning outcomes; statements of the knowledge, skills and attitudes that we want our graduates to possess. We use them for continuous improvement and they are the criteria on which organizations such as AACSB evaluate our accreditation. The following is the learning outcome in our MSAE program.
MSAE Student Learning Outcomes
Students who graduate from the MSAE program will be able to successfully design and complete an empirical research project that includes:
This program has rolling admission, which means you may apply any time before the following dates:
Admission to the MSAE program requires that applicants have successfully completed a bachelor's degree with a GPA of 3.0 or higher (on a 4.0 scale). For those below the 3.0 requirement, please contact us to see if other qualifications, including a GMAT or GRE score, may be used to help fulfill this requirement. Qualified applicants are expected to have completed coursework in economics through intermediate microeconomic and macroeconomic theory and at least one course in both basic statistics and calculus at the college level. Applicants without the required background will be required to make up the deficiency either through remedial coursework or an approved program of self-study.
Although it is strongly recommended that students begin the program in the fall semester, applicants for the spring semester will be considered.
Application requirements:
Additional requirements for international students:
1) Upon admission, final official transcripts from all previously attended colleges/universities, with certified English translations if original language is not English, must be submitted to the Graduate School within the first five weeks of the term of admission or a hold preventing registration for future terms will be placed on the student’s record.
For a comprehensive listing of merit-based aid (graduate assistantships/fellowships), visit the financial aid webpage. Private scholarships may also be available. U.S. citizens and permanent residents may be eligible to apply for need-based federal aid (loans) to help fund their educational expenses as well.
A five year BA/MSAE or BS/MSAE option is also available that reduces the time necessary to complete the MSAE degree. This option permits students from for Marquette, St. Norbert College, UW-Oshkosh, and the University of the Pacific to complete two MSAE courses in their senior year, complete two more courses in the summer after their senior year, and then complete the remainder of their coursework and their graduate professional research project with two more semesters of coursework.
Contact Dr. Nicholas Jolly for more information about the five year option.
What can I do with a MSAE degree?
The Master of Science in Applied Economics (MSAE) degree is for individuals seeking careers as economic, market or financial analysts in industry, government, or the financial sector. The program provides students the solid grounding in economic theory and the working knowledge of advanced quantitative methods needed to succeed as business economists, market or financial analysts, economic researchers, government staff economists, or economic consultants.
Are there specializations within the MS degree?
Yes, students can specialize in business economics, marketing research, financial economics, or real estate economics specialization. However, you can complete the program in a general track allowing you to focus exclusively on economics courses.
Aren’t most MS Economics degrees traditionally academic?
True but Marquette's MSAE program concentrates on developing and applying practical skills which can be used to solve real problems confronting business and government. The curriculum is designed to produce practitioners who can design, develop and interpret economic models. As a result, courses emphasize the application of economic theory and the use of quantitative techniques rather than the derivation of their theoretical underpinnings. Communication skills also are stressed through frequent written and oral presentations of results from applied projects.
How long will it take me to complete?
The program is usually completed in three or four semesters. However, a five year BA/MSAE or BS/MSAE option is also available that reduces the time necessary to complete the MSAE degree.
Can I attend part-time?
You can attend the MSAE program as a full-time or part-time student. Classes are held in the evening to accommodate for regular work schedules during the day.
Will I have an advisor?
Yes, your advisor will be the faculty director of the program. Students will meet with their advisor on a regular basis for course selection to be sure they are on track to graduate.
Are internships available?
Many full-time students participate in internships after their first year in the program. Credits for internship to do not count toward the 30 credits required for the degree.
The MSAE program and the Business Career Center help students secure internship opportunities once they have completed their first year of graduate study. Internships afford our students the opportunity to apply the empirical tools learned in the MSAE program in a real-world business setting. Recently, students have interned at MillerCoors Brewing Company, Harley-Davidson Motor Company, Johnson Controls, GE Medical, BMO Harris Bank, Kohl’s Corporation, Kohler Company, Associated Bank, Direct Supply, Misix, and Cooper Energy Systems to name a few.
International students may need to apply some of their optional practical training (optional) to be eligible for internships. In the past, a number of internships have met the guidelines for curricular practical training (CPT). Be aware that this is done in conjunction with enrolling in the Internship in Applied Economics course (ECON 6986) that is typically for 1-3 credits. However, the credits DO NOT count toward the 30 credits needed for the MSAE degree.
The placement record of the program has been outstanding. Graduates of the MSAE program typically find employment in the field by the time they graduate or shortly thereafter.
Our graduates are working or have worked in various capacities in the financial services sector, utilities, manufacturing, and in local, state and federal governments, holding positions as Research Analysts, Economists, Marketing Analysts, Marketing Specialists, Research Associates, Sales Analysts, Managers, and Statisticians to name a few.
Placements have included positions at:
