The MS in Economics and Policy Analysis (MS-EPA) gives students a distinguished and marketable set of skills in economic theory as it applies to policy analysis. In this 13 course program, students learn how to conduct statistical and econometric research grounded in sound economic models using data from multiple sources on different policy issues. In addition, students will be able to explain their results and policy recommendations not only to economists, but also to non-economists, politicians, and the general public. MS-EPA graduates can find employment in the private sector working for corporations in governmental relations or business development departments, in government and government agencies, in trade associations or lobbying firms, or in not-for-profit advocacy groups.
In this course of study, students will:
- Develop a Master’s level knowledge of microeconomic theory, macroeconomic theory, and international economics.
- Learn the economic and political functions of government and how the two functions interact with each other in the public sector.
- Learn to conduct econometric research -- collect, interpret, manipulate, and analyze policy-related data.
- Develop writing skills to communicate research findings to a variety of audiences including business professionals, economists, policy makers, and the public at large.
- Have the opportunity to participate in Congressional Research Fellowships which will give students hands-on experience in a policy making environment. The fellowships will also allow students to develop extensive career networks which lead to employment opportunities. Graduates can pursue careers in both the private and public sectors as analysts in trade associations, in business development and government relations departments, and in all levels of the public sector.
Applications are currently being accepted for Fall Quarter. The application deadline is July 1st. Please note that priority consideration for Graduate Assistantships will be given to those who apply by April 15th.
- Completed application from the Kellstadt Graduate School of Business
- Bachelor's Degree
- GRE or GMAT taken within the last 5 years
- TOEFL (international students only)
- Official transcripts from all undergraduate institutions
- Students must have completed a course in Principles of Microeconomics and Macroeconomics as well as differential calculus prior to admission to the MS-EPA program.
- Two letters of recommendation
Please write in "MS in Economics & Policy Analysis" on your application.
Application materials should be sent to:
Kellstadt Graduate School of Business
1 East Jackson Blvd., Suite 7900
Chicago, Illinois 60604-9983
For more information on the application process, please visit the Kellstadt Graduate School of Business admissions page.
Students in the MS-EPA program complete 13 courses (52 credit hours). The degree consists of 11 required core courses plus two elective courses. Students may apply for a two-course equivalent Congressional Research Fellowship, or in lieu of the fellowship students may take two elective courses. New students will be admitted each fall.
Students may enroll in the program on a full-time or part-time basis. Classes for the full-time program are generally offered during the daytime. The typical full-time student will finish the program in five quarters. Students will be advised to take no more than three courses per term. Students attending the program part-time will typically take two evening courses per quarter and finish the program in six quarters.
Core Courses (44 credit hours):
- ECO 505: Advanced Microeconomics
- ECO 506: Advanced Macroeconomics
- ECO 507: Research Methods for Policy Analysis I
- ECO 508: Research Methods for Policy Analysis II
- ECO 515: Microeconomics of Market Organization
- ECO 516: Economics of the Public Sector I
- ECO 520: Economics of the Public Sector II
- ECO 521: Policy and Regulation in Financial Markets
- ECO 522: Current Policy Issues
- ECO 557: International Trade
- WRD 586: Writing for Public Policy
Elective Courses (8 credit hours):
- ECO 798: Congressional Research Fellowship I
- ECO 798: Congressional Research Fellowship II (Taken concurrently with CRF I for a total of 8 credit hours.)
- ECO 512: Applied Time Series and Forecasting
- ECO 514: Industrial Organization
- ECO 518: Labor Economics and Labor Relations
- ECO 526: Business Strategy
- ECO 527: Business Regulation & Antitrust
- ECO 550: Regional and Urban Economics
- ECO 558: International Macroeconomics
- ECO 576: Advanced Econometric Methods
- ECO 798: Economics of Innovation
Congressional Research Fellowship
Students in the MS-EPA program will have the opportunity to participate in a Congressional Research Fellowship during which students will work full-time on Capitol Hill in Washington D.C. for 12-16 weeks. Students will be immersed in policy making, analysis, and research. Students will also have a unique opportunity to develop an extensive network with current and former staffers on Capitol Hill.
The Congressional Research Fellowship is a two-course package in which both courses are taken simultaneously. Students may not take any other courses during the quarter they take the Congressional Research Fellowship courses. Students will be responsible for all expenses incurred during their fellowship.
In order to be eligible for the fellowship, students must have earned a course grade of B or better in ECO 505, ECO 506, ENG 594, and ECO 798 (Research Methods I). In addition to the academic requirements, students must also have the permission of the instructor supervising the fellowships. Students must participate in a seminar on present issues being addressed on Capitol Hill and appropriate protocol to be followed when in Washington before beginning their fellowship.
For more information on the MS-EPA program, please contact us: