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Description
The Master of Arts in Applied Economics (M.A.A.E.) degree program was designed for students desiring careers as economists in the academic, governmental, business, and financial communities.
Contemporary society offers almost unlimited opportunities for people with a comprehension of economic relationships and the analytical tools to understand today’s economic issues. Economists work on such problems as sales forecasting, market analysis, economic feasibility, hedging and commodity pricing, unemployment, inflation, balance of payments, energy development, pollution abatement, and many other current topics.
Degrees OfferedMaster of Arts in Applied Economics Admission
For information on general UCF graduate admissions requirements that apply to all prospective students, please visit the Admissions and Registration section of the Graduate Catalog. Applicants must apply online. Please be sure to submit all requested material by the established deadline(s). The program is highly competitive and meeting the graduate admissions requirements is no guarantee of acceptance to the program. The program admits students only in Fall semester.
In addition to the general admission requirements, applicants must provide:
- Official score of at least 500 on the Graduate Management Admission Test (GMAT) or a combined score of at least 1000 on the Graduate Record Examination (GRE).
- GPA of 3.0 or higher in last 60 hours of undergraduate study. Foreign transcripts must be evaluated.
- Resume.
- Three letters of recommendation.
- Essay (for details, see the college website).
- For applicants from countries where English is not the official language, or for an applicant whose bachelor’s degree is not from an accredited U.S. institution, an official score of at least 230 (computer-based test; or equivalent score on the paper-based test) on the Test of English as a Foreign Language (TOEFL) is required.
Application Due Dates
All students applying for fellowships must apply by the Fall Priority deadline date.
U.S. Applicants
| Master of Arts in Applied Economics |
Jan 15 |
Jun 15 |
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International Applicants
| Master of Arts in Applied Economics |
Jan 15 |
Jan 15 |
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International Transfer Applicants
| Master of Arts in Applied Economics |
Jan 15 |
Mar 1 |
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Master of Arts in Applied Economics (M.A.A.E.)
Minimum Requirement—30 Credit Hours
Foundations—12 Credit Hours
The following foundations (or equivalents) should be completed before enrolling in 6000-level graduate courses:
- ECO 4412 Economic Statistics and Econometrics
- ECO 3410 Mathematical Economics (or Calculus II or equivalent)
The following prerequisites (or equivalents) should be completed before enrolling in the corresponding 6000-level graduate courses as indicated:
- ECO 3101 Intermediate Price Theory (3 credit hours) (ECO 6118 Microeconomic Analysis)
- ECO 3203 Aggregate Economic Conditions Analysis (3 credit hours) (ECO 6206 Aggregate Economic Conditions and Analysis)
Prerequisite work may be entirely or partially satisfied through prior equivalent course work. Normally, such course work must have been satisfactorily completed at a regionally accredited college or university, preferably one accredited by the Association to Advance Collegiate Schools of Business (AACSB). Prerequisite course work does not count toward the 30 credit hours required for completion of the M.A.A.E. degree.
Required Courses—12 Credit Hours
FALL TERM
- ECO 6403 Mathematical Economics (3 credit hours)
- ECO 6206 Aggregate Economic Conditions and Analysis (3 credit hours)
- ECO 6118 Microeconomic Analysis (3 credit hours)
SPRING TERM
- ECO 6424 Econometrics (3 credit hours)
Economics Electives—9-12 Credit Hours
(Required courses must be completed before electives can be taken.)
A minimum of nine additional hours of economics electives is required.
Non-Economics Electives—0-3 Credit Hours
A maximum of three hours of an approved non-economics elective may be completed in disciplines such as accounting, finance, management, marketing, mathematics, statistics, public administration, health sciences, political science, computer science, and environmental engineering
End-of-Program Requirements—6 Credit Hours
All candidates for the M.A. in Applied Economics degree must complete an end-of-program option. This requirement can be met by any of the following three equivalent options: 1) thesis option, 2) graduate internship option, or 3) course work option.
Thesis Option
In the thesis option, the student must register for a total of six credit hours of ECO 6971. The candidate may fulfill this requirement by completing a formal thesis on a topic selected in consultation with the candidate’s advisory committee and meeting both departmental and university requirements. The final examination consists of an oral examination over the thesis.
Graduate Internship Option
If the graduate internship option is selected, the student must register for a total of six credit hours of ECO 6946. The candidate may fulfill this requirement by completing an internship consisting of work in a business or governmental agency and an end-of-project, thesis-quality report. The final examination consists of an oral examination over the end-of-project report.
All Course Work Option
In lieu of a thesis or internship, two additional economics courses must be taken. Candidates choosing the all course work option will be required to write a comprehensive field research paper that draws upon the six hours of the field or area from the career-oriented electives (see below) and core courses. The final examination for this option consists of an oral examination over the research paper.
Career-Oriented Elective Specializations
Students are encouraged to use the flexibility provided in the elective portion of the program to design a plan of study that enhances their particular career interests. The suggested career-oriented elective specializations that follow represent some of the possibilities for packaging electives.
Environmental Economics and Policy
For candidates seeking careers in the area of environmental economics and policy, environmental regulation, risk assessment, or health and safety, selection among the following electives is recommended:
- CGN 6655 Regional Planning, Design, and Development (3 credit hours)
- ECO 6505 Public Finance and Fiscal Policy (3 credit hours)
- ECP 6031 Benefit/Cost Analysis in Economic Policy (3 credit hours)
- ECP 6305 Resources and Environmental Management Policy (3 credit hours)
- ECP 6309 Advanced Resource and Environmental Economics (3 credit hours)
- ECP 6605 Economics of Urban and Regional Problems (3 credit hours)
- ECS 6015 Economic Development (3 credit hours)
- ENV 5071 Environmental Analysis of Transportation Systems (3 credit hours)
- PAD 6353 Environmental Program Management Research (3 credit hours)
- PCB 5045C Conservation Biology (4 credit hours)
- PUP 6007 Public Policy Analysis (3 credit hours)
- PUP 6201 Urban Environmental Policy (3 credit hours)
- PUP 6208 Environmental Politics (3 credit hours)
Financial Economics
For candidates seeking careers as financial economists in the fields of banking, brokerage, corporate, or personal finance, selection among the following electives is recommended:
- ECO 6226 Seminar in Money, Banking, and Monetary Policy (3 credit hours)
- ECO 6433 Business Cycles and Forecasting (3 credit hours)
- ECP 6705 Managerial Economics (3 credit hours)
- FIN 6406 Strategic Financial Management (3 credit hours)
- FIN 6425 Asset Management and Financial Decisions (3 credit hours)
- FIN 6515 Analysis of Investment Opportunities (3 credit hours)
- FIN 6605 International Financial Management (3 credit hours)
Human Resource Economics
For candidates seeking careers in the area of human resources development or positions in interdisciplinary manpower-related issues, selection among the following electives is recommended:
- ECP 6205 Labor Economics (3 credit hours)
- ECS 6015 Economic Development (3 credit hours)
- EIN 5117 Management Information Systems I (3 credit hours)
- EIN 6258 Human Computer Interaction (3 credit hours)
- EVT 6267 Vocational Program Planning, Development, and Evaluation (2-4 credit hours)
- ISM 6121 Advanced Information Systems Analysis and Design (3 credit hours)
- MAN 6245 Organizational Behavior and Development (3 credit hours)
- MAN 6305 Human Resources Management (3 credit hours)
- PAD 6417 Human Resource Management (3 credit hours)
International Political Economy
For candidates seeking positions with international organizations (such as the World Bank or United Nations) or overseas business or government appointments, selection among the following electives is recommended:
- ECO 6705 Seminar in International Economics (3 credit hours)
- ECS 6015 Economic Development (3 credit hours)
- FIN 6605 International Financial Management (3 credit hours)
- INR 6007 Seminar in International Politics (3 credit hours)
Public Sector Economics
For candidates seeking careers in the public sector as planners, policy analysts, or regulators, selection among the following electives is recommended:
- ECO 6226 Seminar in Money, Banking, and Monetary Policy (3 credit hours)
- ECO 6505 Public Finance and Fiscal Policy (3 credit hours)
- ECP 6205 Labor Economics (3 credit hours)
- ECP 6405 Industrial Organization and Performance (3 credit hours)
- ECP 6605 Economics of Urban and Regional Problems (3 credit hours)
- ECP 6705 Managerial Economics (3 credit hours)
- Approved electives in Public Administration
- Approved electives in Political Science
- Approved electives in Political Theory
Quantitative Economics
For candidates seeking careers as analysts, consultants, or researchers in business, government, or nonprofit institutions, selection among the following quantitative electives is recommended:
- ECO 6433 Business Cycles and Forecasting (3 credit hours)
- ECP 6705 Managerial Economics (3 credit hours)
- ISM 6537 Quantitative Models for Business Decisions (3 credit hours)
- MAR 6616 Marketing Research Methods (3 credit hours)
Accelerated Undergraduate and Graduate Program in Applied Economics
The Master of Arts in Applied Economics component of the BSBA/MAAE
accelerated degree requires 30 credit hours based on admission to the BSBA/MAAE
program and completion of 120 credit hours of the BSBA component. Up to 15 hours
of graduate courses will count toward the completion of the BSBA component of
the BSBA/MAAE degree.
Requirements for BSBA/MAAE—135 Credit Hours Minimum
Prerequisites—120 Credit Hours
- Admission to the BSBA/MAAE accelerated program
- Completion of the undergraduate requirements of the Economics BSBA/MAAE
degree
Courses taken toward the BSBA must include:
- ECO 3101 Intermediate Price Theory (3 credit hours)
- ECO 3203 Aggregate Economic Conditions Analysis (3 credit
hours)
- ECO 4451 Research Methods in Economics (3 credit hours)
- Select one 3000-4000 level elective (3 credit hours)
Shared BSBA/MAAE Courses
- ECO 6403 Mathematical Economics (3 credit hours)
- ECO 6206 Aggregate Economic Conditions and Analysis (3 credit
hours)
- ECO 6118 Microeconomic Analysis (3 credit hours)
- ECO 6424 Econometrics (3 credit hours)
- Economics Elective (3 credit hours)
Career-Oriented Elective Concentration
Same as MAAE (See above)
Courses Taken Toward MAAE—9 Credit Hours
Select three 6000-level electives from the Career-Oriented Specialization
(six hours in Economics required). A maximum of three hours of an approved non-economics
elective may be completed from disciplines such as accounting, finance, management,
marketing, mathematics, statistics, public administration, health sciences,
political science, computer science, and environmental engineering.
End-of-Program Option—6 Credit Hours
Same as MAAE (See above)
The baccalaureate degree will be awarded when program requirements
for the BSBA are met and students have completed a minimum of 120 hours of credit.
Students will then be reclassified as graduate students. The MAAE will be awarded
on completion of the total program of study.
Financial Support
Graduate students may receive financial assistance through fellowships, assistantships, tuition support, or loans. For more information, see Financing Grad School, which describes the types of financial assistance available at UCF and provides general guidance in planning your graduate finances. The Financial Information section of the Graduate Catalog is another key resource.
Key points about financial support:
- If you’re interested in financial assistance, you’re strongly encouraged to apply for admission early. A complete application for admission, including all supporting documents, must be received by the priority date listed for your program under "Admissions."
- You must be admitted to a graduate program before the university can consider awarding financial assistance to you.
- If you want to be considered for loans and other need-based financial assistance, review the UCF Student Financial Assistance website at http://finaid.ucf.edu and complete the FAFSA (Free Application for Federal Student Aid) form, which is available online at http://www.fafsa.ed.gov. Apply early and allow up to six weeks for the FAFSA form to be processed.
- UCF Graduate Studies awards university graduate fellowships, with most decisions based on nominations from the colleges and programs. All admitted graduate students are automatically considered in this nomination process. To be eligible for a fellowship, students must be accepted as a graduate student in a degree program and be enrolled full-time. University graduate fellowships are not affected by FAFSA determination of need.
- Please note that select fellowships do require students to fill out a fellowship application (either a university fellowship application, an external fellowship application, or a college or school fellowship application). For university fellowship applications, see Financing Grad School.
- For information on assistantships (including teaching, research, and general graduate assistantships) or tuition support, contact the graduate program director of your major.
Contact Info
Michael Caputo, Ph.D. , Professor
Phone Number: 407-823-4728
cbagrad@bus.ucf.edu
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Graduate Catalog
