Saturday, January 1, 2011

How selective are MA Economics programs


How selective are MA Economics programs?
I have a Bachelor's in History with a minor in Business and a 3.9 GPA. I've been looking into universities for a Master's in Economics. From what I've read at a few particular schools, I need to take 3 more classes before I can apply for a program (Intermediate Micro, Intermediate Macro, Econ Statistics). Several of the universities I've been looking at don't require one to take the GRE, which I find weird, since I thought that was required for all grad programs. Does this mean the Economics MA is not very selective? Or is it just that not many people go for this particular program? Thanks.
Higher Education (University +) - 1 Answers

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Many of the big name schools are very selective and don't offer terminal masters degrees in economics. The secret to applying to traditional masters level programs in economics is not the GRE (which is given more weight for PhD programs); it is illustrating an affinity for and an ability to do mathematics. In general, the more mathematics, the better. If you are able to show that you can handle single and multi variable calculus, algebra and real analysis then you will have shown a potential admissions committee that you have the ability to handle the so-called rigor of equilibrium models co-opted from Physics that permeate neoclassical economics. In general, 'freshwater' schools will frame everything in terms of microeconomics so illustrating that you have done intermediate and advanced micro is helpful while 'saltwater' schools still care about macroeconomics --well, to a greater degree at least-- so both micro and macro are of value. There is an additional consideration to just an MA Economics especially considering your background in history and business. If you were hoping for more practicality or interesting subject matter from an economics program then don't be disheartened: consider programs that focus on policy and political economy; or the Oxbridge style MPhil in Philosophy, Economics and Political Science; or an MA in Applied Economics. Not all programs are cut from the same cloth and focus on the same subjects so pick those that suit your strengths and interests. Good luck.

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