Skip to main content

Secondary navigation:

Woods College of Advancing Studies

Frequently Asked Questions

Master of Science in Applied Economics

What are the defining characteristics of your program? 
Is the program a STEM Designated Degree Program?
What careers are typically available to graduates of the MS program?
What is the current job outlook for students with an MS in Applied Economics?
How many courses are required for this program?
What are the requirements for admission?
What if my GPA is not a 3.0? Am I still eligible to apply for the program?
Do you offer admission to international applicants?
Must both letters of recommendation be from an academic source?
Does this program require the GRE?
How much does the program cost?
Do you offer financial aid?
If I have not taken particular prerequisite courses can I still apply? Would equivalent work experience qualify instead?
Do you offer graduate course credit transfer?
Can you tell me about your faculty members?
Is a degree from the Woods College comparable to other Boston College degrees?
What is the deadline for admission?
How long does it take to complete the degree?
Can students work full-time and pursue this degree?
Can students enter the program in the spring semester?
Do you offer graduate student housing?

“The data analysis techniques learned in the MSAE program have allowed me to really become a fundamental contributor to day to day operations in my office.  It has allowed me to offer valuable insights and be a part of the conversation regarding pricing forecasts and analysis, a facet of the business I would not have been able to contribute as much to previously.”

- Michael D. Hanson '18, 
Manager – New Product Development, Verizon Labs

What are the defining characteristics of your program?
Our Master’s Degree in Applied Economics brings together critical skills in practice-oriented data analysis along with a rich curriculum dedicated to ethical sensibilities. Our program seeks to ensure that students have relevant skills for today's (and tomorrow’s) job market. Thus we focus on areas such as public policy legislation, health care, civic agencies, business and banking so that our students will be prepared for careers in a variety of industries.

Is the program a STEM Designated Degree Program?
The MS in Applied Economics program is proud to be a STEM Designated Degree Program. STEM Designated Degree programs are designated by the Department of Homeland Security. F-1 students can apply for a 24-month OPT Extension.  Please review additional information and requirements here.


What careers are typically available to graduates of the MS program?
Students will be prepared for a variety of careers in fields where there is a demand for analytical precision and significant technical proficiency.  These industries include:

  • Educational Services
  • Financial Services
  • Chemical Manufacturing 
  • Professional, Scientific, and Technical Services
  • Insurance Carriers and Related Activities
  • Hospitals and Health Care
  • Electrical Equipment, Appliance, and Component Manufacturing
  • Miscellaneous Manufacturing
  • Merchant Wholesalers, Durable Goods
  • Credit Intermediation and Related Activities
  • Social Assistance
     

What is the current job outlook for students with an MS in Applied Economics?
Demand for graduates with a master’s degree in applied economics increased from 2010 to 2013 with growth rates over 100 percent in the Northeast (108% growth) and the Greater Boston area (143% growth). Growth rates are expected to continue in this upward trend for the foreseeable future. 
 

How many courses are required for this program?
10 courses are normally required (30 credits total) though some students may elect an additional course focused on developing practical skills for the market (practicum or project). We believe this offers our students a distinctive career advantage over similar programs that do not offer an applied focus. 
 

What are the requirements for admission?

  • Online application
  • Bachelor’s degree from regionally accredited college/university (minimum GPA 3.0)
  • GRE or GMAT (one factor in considering the overall application)
  • Personal Statement
  • Two letters of recommendation
  • Résumé
  • Application fee ($45, non-refundable)
  • Brief Interview (in person or via Skype)
  • Prerequisite courses: Principles of Microeconomics, Principles of Macroeconomics, Statistics, Calculus I and II (Calculus II may be taken concurrently during your first semester of study)
     

What if my GPA is not a 3.0? Am I still eligible to apply for the program?
Yes, you are welcome to apply. We will consider your application and weigh a variety of factors (including GRE/GMAT scores and industry experience) to determine whether we are able to offer you admission. For particular applicants, we may be able to grant admission into the program with particular conditions noted (for example, passing the first two courses with a B or better in each during the first semester).
 

Do you offer admission to international applicants?
Yes, international applicants are welcome to apply and upon formal admission, are eligible for a student visa. (Please note that TOEFL or IELTS scores are required.)  Please note international students pursuing the program with a student visa will need to complete the program in 1.5 years (3 academic semesters).

Must both letters of recommendation be from an academic source?
No, we prefer that one letter of recommendation be from an academic source, and another from an employer or person in a supervisory capacity who can speak about your interests and experience.
 

Does this program require the GRE?
Yes. We do require the GRE (or the GMAT if that is preferred). However, this is only one of several factors that we use to make admissions decisions.
 

How much does the program cost?
The tuition for 2017-2018 is $1082 per credit, and courses are three credits each.
There is also a $25 registration fee for each semester (fall and spring).
 

Do you offer financial aid?
All students are eligible to apply for financial aid. The Woods College also has additional scholarships for students who qualify based upon both merit and need. You are welcome to inquire further with regard to your specific circumstances and needs.
 

If I have not taken particular prerequisite courses can I still apply? Would equivalent work experience qualify instead?
If you have not completed the pre-requisites you may still apply. We offer the opportunity for you to complete all your prerequisites within the Woods College. If you complete your prerequisites with a GPA of 3.0 or better, you will be eligible to receive a conditional acceptance. If you have prior work-related experience, we will ask you to provide a demonstration of your level of mastery of applied economics skills. Please contact us for details of this process.
 

Do you offer graduate course credit transfer?
We do not accept graduate course credit from other institutions.
 

Can you tell me about your faculty members?
Virtually all of our faculty hold doctoral degrees in Economics or Statistics and are accomplished practitioners. Their specializations range from work with the International Monetary Fund, to large consulting firms in the Greater Boston area, to academic departments that shape industry standards. Each faculty member is committed to equipping students with real-world skill sets that are applicable to a variety of workplaces.
 

Is a degree from the Woods College comparable to other Boston College degrees?
Once you have completed your degree requirements, your official student record at BC will reflect the degree itself and the date awarded. The Woods College, as a fully-functioning school of BC, awards degrees as all BC schools do.
 

What is the deadline for admission?
Applications are accepted on a rolling basis with a December 10th deadline for spring enrollment and June 15th deadline for fall enrollment.  In particular circumstances applicants may be approved to take summer courses and should inquire with the program director for more information.

(International students seeking a visa should apply at least 3 months prior to their intended start term, and can only be admitted for fall and spring semesters.)
 

How long does it take to complete the degree?
This is variable and is largely based on how many courses a student takes at any given time. If you take 2 courses per semeser, you can complete the degree in 16 months.
 

Can students work full-time and pursue this degree?
This is certainly a possibility and we have designed the program to be flexible to accomodate a variety of scheduling needs.
 

Can students enter the program in the spring semester?
Yes. The priority application deadline is December 10.

Do you offer graduate student housing?
No. Boston College does not currently offer housing for graduate students but our Office of Residential Life does have a staff member who can help you find off-campus housing.