Master's Program Overview

Do you love Economics?  Are you interested in a Ph.D., but you are not sure you are ready for a rigorous Ph.D. program in economics?  Would you like to acquire sophisticated theoretical and quantitative skills to prepare you for a good job?  Then the Master's Degree program in Economics at the University of Wisconsin – Madison may be just what you are looking for.

What it is

Our program provides students excellent training in economics, analytical thinking, and statistical analysis that equips them to compete for scarce spots in competitive Ph.D. programs around the world as well as develop in-demand marketable skills.  We do this by providing a rigorous foundation in economics. 

We welcome applications from three distinct types of students.  First, we will serve students who have non-traditional preparation for an economics Ph.D. program.  This might include, for example, an undergraduate sociology major who is academically very capable but who only got excited about economics late in their undergraduate career.  Admission to good Ph.D. programs is extremely competitive – students with non-traditional backgrounds must receive additional training to be competitive.  Second, it is difficult to assess the preparation of aspiring Ph.D. candidates, particularly those with untraditional backgrounds or those who come from less well-known institutions from around the world.  A high-quality Masters Degree program will give students valuable preparation for Ph.D. programs and credentialing that will allow students to get access to programs that they otherwise would have little chance of joining.  Third, our Masters Degree program will be a valuable employment credential for students who join the program but find they are not well-suited for an economics Ph.D.

Faculty

The program will be run by the faculty of the department of economics, see http://www.econ.wisc.edu/faculty.html 

Requirements for admission

Except in unusual circumstances, applicants will have taken college-level economics (a minimum of introductory micro, introductory macro, and intermediate micro), 3 semesters of calculus and linear algebra.  GRE scores and for non-native speakers, TOEFL scores, are also required for admission.  Except in special circumstances, we expect admitted international students will have TOEFL scores of 92 or better.  We will not accept transfer credits. 

Our application deadline for 2013-14 is March 1, 2013.  We will notify students of admissions decisions by April 15, and request a decision from students by May 13.

We do not offer university- or department-based financial support for the Masters Degree program.
Right now (December 2012) academic year non-resident tuition is $25,166.  Resident tuition is $11,839. 

Program structure

We require a minimum of 30 credits for the Master's Degree.  It will be possible for students to complete the program in 3 semesters, though, given the quality of the program and learning opportunities that we anticipate providing, we expect that many students will choose to stay for 4 semesters (two academic years). 

Training in Microeconomics, Macroeconomics and Econometrics are the essential components of the Masters program.  The core of the program is that students will take a foundational  mathematics/ statistics course for economics; two courses in microeconomic theory; one course in macroeconomics; and three courses in econometrics (two for econometric theory and one in applied econometrics). 

What makes Wisconsin different?  Our program puts greater emphasis in the core on econometric training than many other competing programs (Duke University’s economics department website provides a nice overview of the landscape for competing programs, http://econ.duke.edu/masters-program/the-program/other-programs).   Econometrics is a historical and current strength of the Wisconsin department.  We expect that to attract students.  It is also likely to be the skill that students will most commonly use to get into Ph.D. programs or bring to the job market. 
In short, the core of the program has seven courses in micro, macro, and econometrics (and the general math/stats course), leaving three electives for students who successfully complete the program meeting the minimum requirements. We expect the majority of students would take the curriculum described below.

Year 1:  Fall Semester

Year 1:  Spring Semester

Year 2:  Fall Semester

Year 2:  Spring Semester

Electives include:

Some courses will have undergraduate enrollment, as well as graduate students from other departments at UW-Madison.  In these situations, all students might attend the same large lecture that covers a fundamental principle, but graduate students who enroll in the graduate-level version of the course would meet in their own discussion seminars and would work on different problem sets and other tasks appropriate to graduate-level education.

Graduate Home
Master's Program Overview
Master's Program FAQs
Master's Program Application
PhD Program Overview
Fields
PhD Admissions
Admissions
Application Checklist
  1. Fill out Graduate School application
  2. Submit supplemental materials
  3. Three Letters of recommendation
  4. Have ETS send scores to the Graduate School
  5. Information for Re-applicants
  6. Deadlines
Online Application Form Graduate School Admission Funding
FAQs
PhD Program Guidelines

1. Introduction
2. Program Administration
3. Program Requirements

4. Financial Support 5. Leaves of Absence
PhD Placement

2011-12 Job Market Candidates

PhD Students
Current Student Directory
PhD Courses
Current Courses

Past Courses by Semester

SEARCH TIMETABLE

Class Search Demo
PhD Preliminary Exams
Workshops
Workshop Home
Resources and Information for Current Students
  • My UW and Registrar Office
  • Bursar's Office
  • Graduate School
  • Graduate Program
  • Incoming Students
  • International Students
  • Teaching Assistants
  • Personal Web Page Resources
  • Students on the Job Market
  • Graduating Students
  • Departmental Forms
Campus and Madison Community