Applied Economics

Students in the AMP will complete the same requirements as all MS students in Applied Economics, including choosing an area of concentration. Students will be advised to take classes in their concentration area during the senior year of their undergraduate term, when they can apply nine of their unrestricted credits toward both their undergraduate and MS degrees. Students will also be advised to complete any prerequisites for their MS classes during their senior year.

Degree Requirements and Course of Study

An MS in Applied Economics requires 45 master’s level credits. The AMP program consists of four components: (1) core courses (13 credits), (2) restricted electives (minimum 8 credits), (3) unrestricted electives (9 credits of which may be applied to both undergraduate and MS degrees), and (4) supervised research. Each component is discussed in detail below:

1. Core Courses (13 credits)

The core courses consist of microeconomic theory, econometrics, and professional ethics. 

• AEC 512         Microeconomic Theory I (fall, 1^st five weeks) (4)
• AEC 513         Microeconomic Theory II (fall, 2^nd five weeks) (4)
• AEC 525         Applied Econometrics (fall) (4)
• GRAD 520      Responsible Conduct of Research (fall, winter, or spring) (1)

2. Restricted Electives (minimum 8 credits)

At least two of the electives must be chosen from a designated list that reflects the program’s emphases and faculty expertise. In Academic Year 2014-2015, the designated list includes:

• AREC 550      Environmental and Natural Resource Economics (4)
• AREC 551      Applications of Environmental and Natural Resource Economics (4)
• AREC 543      International Trade (4)

3. Unrestricted Electives (9 credits may be applied to both undergraduate and MS degrees)

The student’s remaining electives will be drawn from other courses, including those available in the Applied Economics Program, in departments closely associated with the program, and elsewhere on campus. Consistent with Graduate School requirements, 400/500 level courses may be used as unrestricted electives but may comprise no more than 50% of the student’s coursework on the program of study. Suggested concentrations and associated courses are listed below.

Students in the AMP will complete 9 of their unrestricted electives during the senior year of their undergraduate degree. Like the restricted electives, unrestricted electives will be chosen in consultation with the student’s advisory committee to best support the student’s concentration area. Students will also be encouraged to complete pre-requisite courses for their MS level courses in their desired area of concentration.

Unrestricted Electives by Area of Concentration (may include but are not limited to):

Resource and Environmental Economics

• AREC 432/532 -- Environmental Law (4)
• AREC 452/552 -- Marine Economics (3)
• FOR 538 -- Valuation of Non-market Resources (3)
• FOR 462/562 -- Natural Resource Policy and Law (3)

Trade and Development Economics

• AREC 454/554 -- Rural Development Economics and Policy (3)
• ECON 440/540 -- Economics of Globalization (3)
• ECON 455/555 -- Economic Development (4)

Marine Resource Economics and Policy

• AREC 452/552 -- Marine Economics (3)
• MRM 520 -- Coastal Law (3)
• MRM 521 -- Ocean Law (3)
• MRM 535 -- Rights-Based Fisheries Management (3)

Rural Development Economics

• AREC 454/554 -- Rural Development Economics and Policy (3)
• ECON 455/555 -- Economic Development (4)
• FES 532 -- Economics of Recreation Resources (4) 
• FES 511 -- Communities and Natural Resources (5) 

Agricultural Economics and Business Management

• AREC 444/544 -- Commodity Futures and Options Markets (4)
• AREC 460/560 -- Capital Investment Analysis Using AgTools (3)
• AREC 465/565 -- Agricultural Financial Reporting and Analysis (3)

Applied Economic Policy Analysis

• AREC 432/532 -- Environmental Law (4)
• AREC 454/554 -- Rural Development Economics and Policy (3)
• ECON 539 -- Pubic Policy Analysis (4)
• FOR 561 -- Forest Policy Analysis (3)

Forest Resource Economics

• FOR 534 -- Economics of Forest Resources (3)
• FOR 538 -- Valuation of Non-market Resources (3)
• FOR 421/521 -- Spatial Analysis Of Forested Landscapes (3)
• FOR 550  -- Sustainable Forest Management (3)
• FOR 462/562 -- Natural Resource Policy and Law (3)

Bioenergy and Climate Change Economics

• AREC 432/532 -- Environmental Law (4)
• ECON 466/566 -- Energy Economics (4)
• GEO 465/565 -- Geographic Information Systems And Science (4)

Risk Assessment

• AREC 432/532 -- Environmental Law (4)
• TOX 411/511  -- Fundamentals of Toxicology (3) (prerequisites apply)
• TOX 413/513 -- Environmental Toxicology and Risk Assessment (3)

Graduate-level classes as prerequisites for future MS courses, for example:

• ST 421/521 -- Introduction to Mathematical Statistics I (4)
• ST 422/522 -- Introduction of Mathematical Statistics II (4)
• GEO 465/565 -- Geographic Information Systems And Science (4)

4. Supervised Research

AMP Master’s students are expected to satisfy the supervised research requirement by completing a Research Paper (Option 1). A Master’s Research Paper, completed under the supervision of the student’s advisory committee, normally requires about three months of full-time-equivalent work.  A Master’s Research Paper requires an oral defense presentation before the student’s advisory committee at the end of the student’s program.

Sample Accelerated Master's Platform Schedule