Five-Year B.A. & M.S. in Applied Economics

Stay an extra year and graduate with professional credentials

The explosion of data available to firms and governments has increased the demand for skilled people to organize, analyze, and interpret the information. A Master’s in Economics is a good way to obtain the necessary skills. With an Economics Master’s degree, you can work in banking, finance, marketing, business strategy, and government positions and, earn salaries that are consistently in the top 10 among all master’s degree holders. A Master’s is also a good pathway through which to enter a Ph.D. program in Economics.

Program Requirements

The M.S. degree requires 30 credit hours of coursework. Students complete ECON-E504, E521, E522, E570, and E577, and another 15 credit hours of graduate level economics courses.

For students in the dual B.A./M.S. program, there are four courses (12 credit hours) that overlap and count for both the B.A. and the M.S. degrees:

  • E406 (Senior Seminar in Economics)
  • E375/E504 (Mathematics for Economists)
  • E470/E570 (Econometrics)
  • another 3 credit graduate level economics course.

Thus, if the student decides not to complete the M.S., they would be taking no “extra” courses—all four courses would count toward their B.A. or B.S. degree in economics.  The remaining six courses (18 credits) are taken across two semesters in a fifth year of study.

Unfortunately, students in the Dual Degree Advantage program are not eligible for the 5-year BA/MS program.

Course Requirements

B.A. (years 3 or 4)

  • E406 Senior Seminar
  • E375/E504 Math for Economists
  • E470/E570 Econometrics
  • 3 credit hours of graduate level economics

M.S. (year 5)

  • E521 Microeconomic Theory
  • E522 Macroeconomic Theory
  • E577 Computer Methods
  • 9 credit hours of graduate level economics

Students intending to follow the Ph.D. Prep, or General Econometrics Stream of the M.S. are advised to take STAT 41600/51600 in their 3rd or 4th year.  This is a probability theory course that provides background needed for more advanced statistical and econometric work.

**Important note: E321 and E406 are only offered in Fall 2022 and will not be offered in Spring 2023.

Two-Step Application Process

Step One: Pre-Application Process (Junior Year):

During their junior year, students should submit a pre-application to the Economics M.S. Program Director Professor Wendy Morrison and the Graduate Program Team.

The pre-application material includes:

  • the pre-application form;
  • a copy of the student’s most recent IU Indianapolis transcript; and,
  • Students accepted into the BA/MS program will have their undergraduate program of study changed from Economics BA (or Economics BS), to Economics BA/MS. Note: Students can only complete an accelerated BA/MS—there is no corresponding accelerated program for the BS, yet.

Accepted students should work with the Economics MS Program Director when selecting courses.

Step Two: Application Process (Senior Year):

During their senior year (not before), students should submit the Graduate Office’s online graduate eApplication for the ECONOMICS MS/ECONOMICS BA program.

This application requires,

  • The application form;
  • A copy of the student’s most recent IU Indianapolis transcript;
  • A personal statement by the student;
  • 2 letters of reference, at least one of which is from an Economics faculty member.

This application will be used to formally admit students to the ECONOMICS MS part of the BA/MS program.

Admission Requirements for MS year

By the end of their senior year, students must have also completed ECON-E321, E322, E406, E375/E504, E470/570, and another 3 credit Economics graduate level course. Students should also have completed Math-M16500 (Calculus I). They should have a minimum GPA of 3.0 overall and a 3.0 in their major coursework to be admitted to the M.S. program.

More Information

Students accepted into the Economics BA/MS program will be able to take up to 12 hours of graduate courses in ECON during their senior year. Students may elect to take classes during the summer between the 4th and 5th year, to begin their MS if they have completed their BA.

Contact Information

Economics M.S. Program Director Professor Wendy Morrison
School of Liberal Arts Graduate Program Team

Submit your Pre-Application online or obtain a printed application outside the Economics Department Office, 5th floor, Cavanaugh Hall.

Application Deadline: July 1