Degree Details and Courses
You have the flexibility to choose your electives freely in this program. Courses in Quantitative Methods can be plugged into a curriculum that you build for yourself, including the option to complete the degree fully online.
In addition to the core courses requirement, you can select courses from public policy, financial economics and macroeconomics, international economics and development, spatial economics, environmental economics, health economics, and quantitative methods areas.
Concentration in Financial Economics
Students may declare a formal concentration in Financial Economics—which would be noted on the student’s transcript. Specific course requirements apply.
Ten courses are required to complete the Master of Science in Applied Economics: four core courses, one advanced econometrics course, and five additional elective courses.
- Those entering with only a single Calculus course must take in their first semester 440.304 Math Methods for Economists, a three undergraduate credit, full-length course, at half tuition. The course does not count toward the degree.
- For those required to take Math Methods, the course is treated academically as part of the Core. Thus, all rules applying to the Core apply to Math Methods for Economists.
- In order to waive our Math Methods for Economists course, evidence of Multivariable Calculus is required.
All four courses are required.
Advanced Econometrics Courses
Quantitative Methods Electives
Applied Macroeconomics Electives
This course is designed as a survey of the basic theories in monetary economics for masters level students. The main objective of the course is to help students understand the core aspects of monetary economics: how monetary phenomena and policies are determined, and how they interact with the rest of the macro economy. Several key theoretical frameworks will be constructed, and various monetary economics phenomena, including monetary policy actions, will be analyzed within such frameworks.
Among the topics to be covered include: neutrality and super-neutrality of money, money demand and money supply, consumption CAPM and equity premium puzzle, inflation and the optimal inflation rate, public finance and inflation, (new Keynesian) Phillips curve, monetary policy transmission mechanisms, the term structure of interest rates, strategy of monetary policy and optimal monetary policy, the time inconsistency problem in monetary policy, monetary policy targets and rules, monetary policy at ZLB, and non-conventional monetary policies.
Prerequisites: 440.602 Macroeconomic Theory and Policy; 440.606 Econometrics.
Financial Economics Electives
Applied Microeconomics Electives
Analytical Methods Elective
Student Research Elective
Students may undertake their own research project as an 11th program course for three additional credits at full tuition. Prior to proposing a project, interested students must have clearly identified a research topic, and submit a formal proposal for review and approval to the Thesis Research Committee, to be received no later than two months prior to the beginning of the term in which the student plans to enroll in the course. The proposal must follow the Applied Economics Thesis Guidelines, which can be obtained by contacting the Program Director.
The committee will help identify a mentor who is familiar with their prospective inquiry, and is willing to provide guidance and oversee the project. The mentor must be faculty teaching at the Johns Hopkins University, but the availability of a mentor cannot be guaranteed. Students must meet with the mentor periodically for discussion of the project's progress, on-site or on-line, and must complete a research paper, to be approved by the mentor and the Committee.
Enrollment of the student is undertaken by the Program Director. Candidates must plan on using two semesters to successfully complete Thesis.
Prerequisites: All four Core courses and Microeconometrics or Macroeconometrics, and one or more Applied Economics courses in the substantive area of the proposed research, plus a strong academic record (at least B+ average) in at least eight program courses, are absolute minima.