About the Program

The master of arts in applied economics is designed for students who want to gain an in-depth knowledge of modern economics and finance, particularly those interested in or already working in:

  • Financial institutions and finance departments in business and government

  • Policy-oriented and community service occupations in the private and public sectors

  • Economic and financial consulting and advising

  • High school business, economics, and social studies education

The program integrates real-world application with the latest theory and enhances opportunities for graduates in a broad range of occupations and institutions; the program also has prepared students for continued education at the Ph.D. level. In addition, it has prepared students to take the Chartered Financial Analyst (CFA) exam.

About the Economics and Finance Department

248 Cassety Hall
1300 Elmwood Ave
Buffalo, NY 14222
Phone: (716) 878-4606
Fax: (716) 878-6907
https://economics.buffalostate.edu/

Admission Requirements

1. A bachelor’s degree from an accredited college or university with a minimum cumulative GPA of 2.7 (4.0 scale), or a master’s degree from an accredited institution with a minimum cumulative GPA of 3.0 (4.0 scale).
2. Applicants who hold a bachelor’s degree but do not meet either of the above criteria may be admitted if they attain an appropriate minimum score on the Graduate Record Exam (GRE), attain an appropriate minimum score on the Miller Analogies Test (MAT), or complete 6 credit hours of 500-level coursework at the college as an accepted premajor student with a minimum cumulative GPA of 3.5.
3. Three letters of reference.
4. A letter describing the applicant’s interest in the program.

In addition, all applicants should review the Admission to a Graduate Program section in the Graduate Catalog.

Learning Outcomes

Students will:

1. understand the historical development of economic concepts in relation to social policy needs.
2. understand how different schools of thought shape the approach to the assessment of economic issues.
3. understand and use theoretical economic models to facilitate research in economics and finance.
4. understand and apply selected quantitative methods of economic analysis.
5. be able to undertake economic and finance research and to derive policy implications.

Program Requirements

Required Courses (12 credit hours)
ECO 505 HISTORY OF ECONOMIC THOUGHT 3
ECO 507 APPLIED MICROECONOMIC THEORY 3
ECO 508 APPLIED MACROECONOMIC THEORY 3
ECO 524 APPLIED ECONOMETRICS 3

Suggested Content Specialty Courses
Economic Policy Analysis Courses
Select three from the following: 9
ECO 600 LABOR ECONOMICS
ECO 610 ECONOMICS OF EDUCATION
ECO 612 URBAN ECONOMIC ANALYSIS
ECO 650 PUBLIC FINANCE
ECO 660 COST-BENEFIT ANALYSIS

Financial Economics Courses
Select three from the following: 9
ECO 650 PUBLIC FINANCE
FIN 619 RISK MANAGEMENT
FIN 622 CAPITAL MARKETS
FIN 630 INTERNATIONAL FINANCE
FIN 645 ESTATE PLANNING AND TAXATION

Other Elective Courses (3-9 credit hours) *1
Select 3-9 credit hours from the following: 3-9
ECO 502 WORKSHOP IN ECONOMIC EDUCATION
ECO 510 ECONOMICS OF EDUCATION
ECO/INT 601 ENGINEERING ECONOMY

Master's Project, Master's Thesis, or Comprehensive Examination (3 credit hours)
Select one from the following: 3
ECO 690 MASTER'S PROJECT (1-6)
ECO 695 MASTER'S THESIS (1-6)
Comprehensive Examination

Total Credit Hours 30

*1 Selected under advisement.

Graduation Requirements
A minimum of 30 credit hours at the graduate level, including a minimum of 15 credit hours at the 600 level. Students also must complete required core courses and one of the following: a master’s project, a master’s thesis, or a comprehensive examination. A field of specialization is recommended but not required.