Master of Arts in Economics

Since 1934, Wayne State's Master of Arts in Economics prepares students for careers in industry, government and junior college teaching. The M.A. degree is intended for those who seek a more extensive background in economics, either for employment as an applied economist or for another advanced degree such as a Ph.D with specialization fields in health economics, labor and human resources, industrial organization and quantitative economic methods.

Many students in the M.A. program are employed and take their courses in the evening, so the department offers all of its core courses and a substantial number of M.A. elective courses in the evening. The program also attracts some international students, including several students from Germany sponsored by the Deutscher Akademischer Austauschdienst (DAAD) and the University of Paris II. Economics degrees provide the kinds of skills demanded in the U.S. labor market and the data prove it. For data on average earnings of economics majors, including those with master’s degrees, see the U.S. Census data or our Career Insights below where you compare U.S. earnings for economics majors vs. others along with the effect of a graduate degree on lifetime earnings.

About the program

Wayne State's M.A. in Economics is a stand-alone degree, similar to an M.B.A. but with a focus on economics, suitable for students interested in a professional career. It is not a research degree and does not prepare students for research, although it does prepare students with analytic skills needed for jobs requiring economic analysis.

Our M.A. is not a stepping-stone to a Ph.D. Students who wish to earn a Ph.D. should apply for admission to that program which has much more strict admission requirements and is highly competitive for entry (requiring much more math). Students who complete this M.A. and decide subsequently to pursue a Ph.D., must formally and separately apply to the Ph.D. and be accepted by the Graduate Committee. The Ph.D. program has a very different curriculum, so they are not substitutes in any way.

Re-tooling with an M.A. in economics

Engineers, scientists and health professionals have many of the skills necessary to excel in an economics M.A. program. They generally have rich mathematical and statistical expertise that will enable them to "leapfrog" many of the standard M.A. qualification requirements. With as few as eight to no more than 11 courses, they can work toward an M.A. degree in economics over a twelve to 18-month course of study.

Funding

• Financial and fellowship aid (teaching or research assistantships) are not available for M.A. students. The M.A. is self-funded.
• Graduate students paying in-state tuition will spend approximately $27,762 for two years (32 credits) of tuition and fees, plus lodging and food. Current tuition and fees for out-of-state and international students is $55,524 for two years of classes (32 credits), plus lodging and food.
• Please consult the current tuition and fees charts and tuition calculator for domestic and in-state students as well as out-of-state and international students.

Some aspiring international students believe that family members or sponsors will provide adequate financial support or that once here they can either convince the department to fund them or earn money with part- or full-time employment. Student visas probably will not allow non-academic employment. You should assume that you will fund yourself entirely before coming.

Economics program requirements and curriculum

As an economics major, you must complete 32 credits by satisfying the university graduate education requirements and overall economics program requirements.

• Prerequisites

  Basic requirements for the M.A. include:

  • Principles of economics (microeconomics and macroeconomics, typically one semester each)
  • Intermediate undergraduate microeconomic theory
  • Intermediate undergraduate macroeconomic theory
  • Econometrics
  • First-semester calculus
• Cognate courses

  Up to eight credit hours of graduate-level cognate courses (courses outside the economics department) may be applied toward the master’s degree. All such courses must be approved by the master’s program director in advance and be related to the student’s program of study

• Plan of work

  The M.A. director requires students to submit a plan of work during their first semester in the M.A. program. Students, in consultation with the master’s program director, list the courses that they expect to use to fulfill the master’s program requirements.

  GPA

  The student must have a cumulative GPA of 3.0 or better before a plan of work can be approved. If the student does not have a 3.0 by the time twelve graduate credits have been earned, then they cannot file a plan of work. In that case, unless the master's program director grants a waiver, the student cannot continue to register and effectively is terminated from the program.

  Approval

  Once the master's program director approves the plan, it must be submitted to and approved by the College of Liberal Arts and Sciences Dean’s Office.

  The Dean’s Office will place a hold on registration if students fail to submit an approved plan of work by the time they have earned twelve graduate credits. Students cannot register for classes until the plan of work is filed and approved.

  A student who received qualified admission must file a plan of work at the usual time. If the plan of work is approved, the qualified status is removed from the student’s record.

  Once a plan of work is approved, the student becomes a master's degree candidate. The student may then register without the master's program director’s signature, as long as all courses for which the student registers are on the plan. Any change in the plan of work requires the approval of the master's program director.

• Time limitation

  Generally, all courses counted toward the master’s degree must be taken no more than six years before the date of graduation. Courses more than six years old are considered to be over-age and must be revalidated by the Liberal Arts and Sciences Graduate Office to be used for the degree. Revalidation is not possible for courses more than ten years old or for courses taken at other institutions.

  If a course is revalidated, the master’s program director and the student must set a terminal date for completion of all degree requirements, including any additional requirements that may be imposed by the Liberal Arts and Sciences Graduate Office as a condition for revalidating the over-age credits.

  Graduation

  Graduation is in December, May and August of each academic year. Each student must file for graduation at the beginning of the semester in which he or she expects to graduate. Deadlines for filing and completing all degree requirements, including essays, thesis and examinations, are published each semester.

Special enrollment for Wayne State undergraduates

• Senior Rule admission

  A Wayne State Undergraduate with a GPA of 3.0 or better may apply to the Graduate School for Senior Rule admission during their last semester of undergraduate study by applying for graduate admission. A student admitted under the Senior Rule may apply courses taken in the last semester of study toward a graduate degree, provided such courses are not needed to meet the requirements for the undergraduate degree. Undergraduate tuition rates apply to all Senior Rule courses. Senior rule status is good for only one semester.

• Accelerated Graduate Enrollment (AGRADE) program

  Under this program, qualified seniors may apply up to 15 credits toward both a bachelor's and master's degree, allowing the student to complete both degrees in five years. See the master's program director for more details.

• Special Rules for Wayne State Ph.D. students

  A student in the Economics Ph.D. program may apply for admission to the master's program by filing a Change of Graduate Status Form. Courses taken as a Ph.D. student may be applied toward the master's degree. Note that courses taken as a post-bachelor student may not be applied toward a master's degree.