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Master of Arts Degree in Economics in Michigan

This article compares Master of Arts in Economics programs from universities across Michigan. Programs throughout the Great Lake State offer graduate students the chance to tailor coursework to pursue their research and career goals.

University of Michigan - Ann Arbor

The one-and-a-half-year Master of Arts in Applied Economics program at the University of Michigan focuses on economic policy making. The program is designed to meet the needs of students who wish to build their resume for professional work or to complement another field of study.

Eastern Michigan University

During the Master of Arts in Economics program at Eastern Michigan University, graduate students complete core coursework in advanced mathematics and economic analysis. To complete the program, students can choose between completing a research seminar, writing a thesis or pursuing independent study of an economic problem.

Western Michigan University

All classes for Western Michigan University's Master of Arts in Applied Economics program begin after 5:30pm to make the program accessible to students who wish to maintain full-time jobs. Students choose to either write a thesis or take additional elective classes for a concentration in economic development or econometrics/statistics.

Central Michigan University

At Central Michigan University, students have opportunities to co-author research with their professors and/or earn a graduate assistantship (a paid teaching position). To complete the degree, students can either write a research thesis or write a shorter research paper.

Michigan State University

At Michigan State University, students studying for a PhD in Economics or pursuing graduate studies in another field can choose to add on a Master of Arts in Economics. Students take core classes in microeconomics, macroeconomics and econometrics in order to pass the comprehensive final exam.

University of Detroit Mercy

The Master of Arts in Economics program at the University of Detroit Mercy focuses on applying economic principles to the analysis of national and international economic systems. Students can choose a theory concentration (to prepare for PhD work and research) or an applied concentration (to prepare for jobs in the private, government and nonprofit sectors).

University Programs Offered Tuition for Academic Year (2018-2019)*
University of Michigan - Ann ArborMaster of Arts in Applied EconomicsIn-state: $23,128
Out-of-state: $46,678
Eastern Michigan UniversityMaster of Arts in EconomicsIn-state: $18,000
Out-of-state: $32,040
Western Michigan UniversityMaster of Arts in Applied EconomicsIn-state: $15,368
Out-of-state: $29,569
Central Michigan University Master of Arts in EconomicsIn-state: $13,354
Out-of-state: $18,964
Michigan State UniversityMaster of Arts in EconomicsIn-state: $18,132\Out-of-state: $35,628
University of Detroit MercyMaster of Arts in Economics$28,422

Source: *NCES

Earning an Economics Master's Degree in Michigan

Most Master of Arts in Economics programs do not require students to have an undergraduate degree in economics. However, applicants are expected to have completed college-level coursework in economics and mathematics (including microeconomics and calculus). Some programs have GRE test score requirements. Students must also send in their undergraduate transcripts, letters of recommendation and a statement of purpose. Many programs include core courses like:

Macroeconomic Theory

Macroeconomic theory classes explore principles of economic growth in the long term. After reviewing classical economics theories, students may begin to apply these theories to modern problems like stabilizing aggregate demand, analyzing unemployment and inflation, and understanding economic growth. Some courses may also require students to practice using computers to work with hypothesis testing and/or model simulation.

Microeconomic Theory

In this course, students review the basic concepts of microeconomic theory, like consumer demand, production and costs, resource allocation, determination of price, allocative efficiency, and factor markets. Students may study related theories like game theory and decision-making under uncertainty. In addition, students often practice using mathematical tools to analyze microeconomic problems.

Econometrics

In econometrics classes, students learn how to apply their growing mathematical took kit to solve economic puzzles. Students may learn how to use computer software to apply techniques like statistical inference and regression analysis. Topics may include hypothesis testing, probability distributions, multicollinearity, heteroskedasticity, limited independent variables, simultaneous equation models and identification and estimation problems.

Mathematics for Economics (or Quantitative Methods)

In this course, students learn how to rewrite economic problems into the language of mathematics. After learning how to manipulate mathematical objects (like sets, graphs, derivatives, functions and matrices), students learn the techniques for solving systems of equations. Topics may include partial derivation, total differentials, matrix algebra and dynamic analysis.

Master of Arts in Economics programs across Michigan prepare graduates to apply economics in the workplace or to PhD research. Students in these programs study economic theory, analytical skills and research techniques.