Master of Science in Economics & Policy Analysis
In every field, and in every sector—business, government, and nonprofits—employers are seeking problem solvers who can use logic, analysis, critical thinking, and strong empirical skills to propose innovative solutions.
Graduates of DePaul’s Master of Science in Economics and Policy Analysis program (MS-EPA) have the tools to diagnose complex problems, develop innovative solutions, and make a business case for those solutions in a wide array of settings.
“The MS-EPA program is grounded in strong econometrics coursework along with skills necessary for policy analysis, a combination which is a must for data-driven policy making. And not many schools offer this.”
--DePaul MS-EPA alumnus Avni Danak, who served her Congressional Research Fellowship at the White House, in Vice President Biden’s Economics Office
MS-EPA’s policy toolkit contains qualitative and quantitative tools. Students learn about game theory and about models of the behavior of firms, and then they put theory to practice in analyzing complicated real-world cases. They learn about the influence of money in the political process and the effects of globalization on monetary and fiscal policy. They learn to both evaluate and create documents that inform policy debates.
Graduates of the MS-EPA program not only develop innovative solutions, they know how to make a business case for their proposals, bolstered by persuasive communication and solid statistical analysis conducted with Stata, the most widely used statistical programming language in economics. Demand is high for job candidates who know how to analyze data and translate it into relevant information. Multiple recruiters told one alumnus that with the MS-EPA degree she would never have to look for a job again: firms would be recruiting her instead.
Recent MS-EPA graduates include an ecommerce entrepreneur, a program specialist for the U.S. Department of Agriculture, and a research analyst for the European Central Bank. One graduate is working for the Americans for Prosperity Foundation, analyzing state policy, researching state-level fiscal issues, and working on messaging in online and print publications. Another graduate is a data analyst in the editorial department of Groupon, using descriptive statistics and inferential studies to improve performance and management.
Two paths to completion
Students can complete the 13 courses of the MS-EPA on a full-time or part-time basis.
Full-time graduate students learn together as a cohort. They take two to three classes each quarter and complete the program in four-five quarters, or 15-18 months.
Part-time graduate students take one or two classes per quarter, primarily attending classes in the evening.
Congressional Research Fellowship
Top MS-EPA students may conclude their studies with a Congressional Research Fellowship: a two-course package in which students can work full-time in Washington DC either on Capitol Hill, an Executive Branch Agency, an Independent Agency or Not-for-Profit. Alternatively, fellowship opportunities are available at the state and local level as well.
For 12 to 16 weeks, fellows are immersed in policy making, analysis, and research. They collaborate with staff from around the country and build their network of professional contacts.
Fellows from the first MS-EPA cohort served various members of Congress, the Progressive Policy Institute, the House Financial Services Office, and Vice President Biden’s Economic Office in the White House.
Course sequence for full-time students
Fall quarter
Advanced Microeconomics (ECO 505)
Advanced Macroeconomics (ECO 506)
Writing for Public Policy (WRD 586)
Winter quarter
Microeconomics of Market Organization (ECO 515)
Economics of the Public Sector I (ECO 516)
Research Methods for Policy Analysis I (ECO 507)
Spring quarter
Economics of the Public Sector II (ECO 520)
Policy and Regulation in Financial Markets (ECO 521)
Research Methods for Policy Analysis II (ECO 508)
Final quarter
International Trade (ECO 557)
three electives
The Congressional Research Fellowship counts as two electives that are taken concurrently for a total of eight credits. Other electives include:
Real Analysis I (ECO 435)
Real Analysis II (ECO 436)
The Public Policy, Business and Ethical Environment of Govenment (ECO 517)
Strategic Decision Making and Game Theory (ECO 525)
Business Strategy (ECO 526)
International Macroeconomics (ECO 558)
Economics of Developing Countries (ECO 561)
Special Topics: Innovation (ECO 798)
Special Topics: Negotiations (ECO 798)
Independent Study/ Thesis (ECO 799)
Other ECO Special Topics courses may be taken with director's approval.
Inter-department courses are avialable as electives with director's review and approval.
Career placement
Alumni are working in business, government, and the nonprofit sector.
“I have used every concept I learned in grad school in developing my business. I had a great experience.” --DePaul MS-EPA alumnus Aksh Gupta
Congressional Research Fellows enjoy unparalleled networking opportunities, and professors leverage their own networks on the students’ behalf. Students also have access to the Career Management Center.
Funding your education
Several graduate assistantships, which include a tuition waiver and stipend, are available for highly qualified applicants. Applications received by April 15 are given priority consideration for assistantships.
Students are also eligible for various financial aid options, including loans, work-study programs, and tuition payment plans. More information is available through the Office of Financial Aid.
Admission requirements
Applicants to the MS-EPA program must meet the following prerequisites for admission:
* Bachelor’s degree
* One course in Principles of Microeconomics
* One course in Principles of Macroeconomics
* Differential Calculus
Application process
Applicants to the MS-EPA program must submit the following:
* Kellstadt Graduate School of Business application
* GRE or GMAT scores (less than five years old)
* TOEFL scores (international students only)
* Official transcripts from all undergraduate institutions
* Resume
* Two letters of recommendation
Applications for fall quarter must be received by July 1. Priority consideration for graduate assistantships is given to those who apply by April 15.
Please write in “MS in Economics and Policy Analysis” on the application.
Application materials should be sent to:
Kellstadt Graduate School of Business
DePaul University
1 East Jackson Blvd., Suite 7900
Chicago, IL 60604-9983
Course Highlight
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For more information
Program Director
Robert Kallen