MS in Applied Economics Degree Details and Courses
This 30-credit Master of Science degree is composed of 3 Required Core Courses, 1 Customizable Core Course, and 6 Elective Courses. In addition, this degree program offers an optional culminating experience of a Thesis as an 11th course, for three additional credits at full tuition.
Core Courses - Required
Complete all 3 courses.
Core Course - Customizable
Choose 1 of these Advanced Econometrics courses:
Select 6 Electives.
For your convenience, some Electives are presented as a collection of related courses within a Focus Area. These curated collections will help you to identify the targeted knowledge and experiences available to distinguish yourself in your field.
This program has curated four Focus Areas:
• Applied Macroeconomics
• Applied Microeconomics
• Financial Economics
• Quantitative Methods
Focus Area Electives: Applied Macroeconomics
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.
Focus Area Electives: Applied Microeconomics
Focus Area Electives: Financial Economics
Focus Area Electives: Quantitative Methods
Optional 11th Course Culminating Experience
Undertake your own research project as an 11th program course. You will identify a research topic, create a formal proposal based on the Applied Economics Thesis Guidelines, and have the proposal reviewed and approved by the Thesis Research Committee. Additionally, you will work closely with the Program Director and your Thesis Mentor as you progress your project.
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.