Start with what the degree should do. Then compare scores. Houston’s Applied Economics MA (83.6) states that it is a terminal degree and not preparation for a PhD, Purdue’s MS (87.3) is offered online, and Hunter’s MA (72.1) meets in the evening for students with jobs. A program that fits your next step is worth more than a higher number that points somewhere else.
Economics MA, MS or Applied Economics: Which Master’s Fits?
Names mislead. The degree name says less than the program’s purpose. Wisconsin describes its Quantitative Economics MS as a terminal degree for careers that analyze economic data. UT Austin says the technical level of its MA falls between intermediate undergraduate courses and first-year doctoral courses, that its courses are distinct from its PhD courses, and that the level is more advanced than most Applied Economics master’s programs.
Applied programs trade theory depth for job skills. Houston calls its Applied Economics MA a terminal master’s that is not part of its PhD program, and Florida State runs its Applied Economics MS as a one-year cohort that starts in the fall and finishes in the summer. Ohio sits between the two: its MA prepares students for public or private sector careers or for a PhD, in one year. If a doctorate is even a possibility, ask each department where recent graduates went before you commit to an applied track.
| Program | Stated Purpose | Format |
|---|---|---|
| Wisconsin Quantitative Economics MS | Terminal degree with heavy econometrics training | Coursework in quantitative economics |
| UT Austin Economics MA | Prepares students for economics PhD programs | 30 graded credits; 10, 18 or 24 month tracks; no thesis |
| Houston Applied Economics MA | Terminal degree for the job market, not PhD preparation | 30 credit hours, full time, 12 months, daytime classes |
| Florida State Applied Economics MS | Applied skills with a summer master’s project | 30 credits, one-year fall cohort, no online or part-time option |
| Ohio Economics MA | Careers in the public or private sector, or a PhD | 36 credit hours, fall to August |
Do You Need a Thesis in an Economics Master’s Program?
Usually not. The options differ, though. UT Austin neither requires nor offers a thesis, though many of its electives require research projects or papers. Texas A&M offers both routes: most students take the non-thesis option at 36 credit hours with a capstone course, while the thesis option needs 32 semester hours, a thesis under an advisory committee and an oral final exam. Ohio requires either a thesis or a capstone research paper.
The choice matters most if you may apply to a doctoral program, because a thesis or a long empirical paper gives you a concrete research sample. Compare Texas A&M’s thesis route and Ohio’s master’s paper with UT Austin’s coursework design. For a career move, a capstone built around an applied project, like the one in Texas A&M’s non-thesis route, may serve you better.
Online, Evening and One-Year Formats for Economics Master’s Students
Purdue is the online option here: its Online MS in Economics is 30 credit hours, with 9 credits required, and students can add one of three graduate certificates (financial economics, business and economics data analytics, or public economics and policy) as a specialization. Hunter offers its economics MA in the evening for students who hold full- or part-time jobs.
Daytime cohorts work differently. Houston runs a full-time, 12-month program with classes on Monday, Wednesday and Friday, and Florida State says it does not offer an online program, part-time enrollment or spring admission. UT Austin and UCLA publish flexible timelines (10, 18 or 24 months at UT; 9 to 18 months for UCLA’s 48-unit Master of Quantitative Economics), which suits students who want to spread the work out.
What Math and Economics Do You Need Before Applying?
Houston lists introductory econometrics and Calculus I (or Calculus for Business and Social Science) as prerequisites, recommends Math for Economics, and makes GRE scores optional. UT Austin begins in mid-July with Math for Economists and Probability and Statistics before the micro, macro and econometrics core, and it teaches in Stata, Python and R without requiring prior programming. Ohio’s first fall already includes Mathematics for Economists, Intermediate Microeconomics, Intermediate Macroeconomics and Econometrics, so the year moves quickly from review to advanced work.
Budget as well as schedule. Money shapes the choice. Houston’s page says Applied Economics MA candidates are not eligible for fellowships or assistantships, although there are funds for Texas residents with financial need and a small number of scholarships for full-time applicants. Ohio says funding opportunities are available on a competitive basis.
Questions About Economics Master’s Degrees
Can You Get a Master’s in Economics Online?
Yes. Purdue’s Online MS in Economics is 30 credit hours and lets students add a graduate certificate in financial economics, business and economics data analytics, or public economics and policy. Many campus programs are not online: Florida State says it does not offer an online program or part-time enrollment, and Hunter’s program meets in the evening on campus. The online economics guide compares nine master’s programs you can finish online, including Johns Hopkins and Georgia State.
Will a Master’s in Economics Prepare Me for a PhD?
It depends on the program. UT Austin says its MA curriculum will fully prepare students for success in economics PhD programs, and Ohio says its MA prepares students to pursue a PhD. Houston says its Applied Economics MA is terminal and not intended as PhD preparation, and Wisconsin describes its MS as a terminal degree.
Do I Need a Thesis for an Economics Master’s?
Not at most of these programs. UT Austin neither requires nor offers one, Texas A&M offers thesis and non-thesis options with most students choosing non-thesis, and Ohio accepts a thesis or a capstone paper. Choose the thesis or paper route if you want a research sample for doctoral applications.
How Long Does an Economics Master’s Take?
One year is common. UT Austin can be completed in as little as 10 months, Houston is a full-time 12-month degree, Ohio finishes within 12 months, and Florida State runs from fall to summer. UCLA publishes a range of 9 to 18 months, and UT Austin also offers 18 and 24 month tracks.
What Math Do I Need to Apply to an Economics Master’s?
Houston asks for Calculus I (or Calculus for Business and Social Science) and an introductory econometrics course. UT Austin starts with a summer of math and statistics before the core, so it builds the foundation inside the program. Check the prerequisite list at each school, because it changes the courses you need to take first.
Is an Economics Master’s or an MBA the Better Fit?
They train different skills. Wisconsin says its MS emphasizes econometric training and prepares students for careers analyzing economic data, and Purdue offers its economics master’s through its business school with data analytics and finance certificates. Choose economics when you want to estimate effects, forecast or evaluate policy from data, and an MBA when management is the goal.
Sources for This Degree Guide
University references lead to the relevant ranking card, where you can open the official program sources.
- UW-Madison Guide: Quantitative Economics, MS
- UW-Madison Guide: Quantitative Economics, MS (Emphasis)
- UT Austin Master of Arts in Economics: Curriculum
- UT Austin Master of Arts in Economics: PhD Preparation
- UT Austin Master of Arts in Economics: Timeline
- UT Austin Master of Arts in Economics: Preparation and Tools
- University of Houston Economics: Applied Economics Master’s
- University of Houston Economics: Admission Prerequisites
- University of Houston Economics: Funding for Applied Economics Candidates
- University of Houston Economics: Program Format
- Florida State Economics: Master’s Program Overview
- Ohio University Economics: Master’s Degree
- Ohio University Economics: Master’s Purpose
- Ohio University Economics: Fall Semester Courses
- Ohio University Economics: Program Length
- Ohio University Economics: Master’s Funding
- Texas A&M Economics: MS Program
- Purdue Online MS Economics: Curriculum
- Hunter College Graduate Catalog: Economics MA
- UCLA Master of Quantitative Economics: Courses


