The School of Arts and Sciences’ M.A. in Economics is taking on a new look, a new name, and new possibilities for students. It is now the M.A. in Applied Economics, reflecting its expansion into new areas important to economics today. “The new program will educate leaders who want to maximize their career opportunities by making a big difference with real world skills that employers want. I’m very excited about the terrific possibilities that this will open for our graduates,” said Dr. Thomas Smith, Dean of Arts and Sciences.
The M.A. in Applied Economics program will cover two semesters and a summer, with some flexibility so working students can pursue the degree at their own pace. The degree is STEM recognized and price competitive.
Dr. Martha Cruz, Chair of the Department of Economics said, “The new degree is very versatile in terms of career opportunities, because now we have a focus on different areas that are current and in demand in the labor market. The program has new concentrations, including behavioral economics, environment and climate change, AI and the digital economy, and data analytics.”
And students don’t have to be economics majors, Cruz emphasizes. “This is an applied economics program, so it is empirical and not math- or quantitative- heavy. It's practical, giving people practical skills that they can utilize in their job search and in the workplace.”
It also incorporates Catholic University values, Cruz said. “Our program explores the frontiers of knowledge in economics with an ethical approach that considers human dignity and the common good.”
The M.A. in Applied Economics will open doors to new possibilities in the DC area and beyond. “We usually have more opportunities available for internships than students who can fill them, and our students perform very well in the job market,” Cruz said. “Students can engage with faculty directly in research that is relevant to have additional experience that will make their resumes stronger. And we have projects in different countries, so the opportunity for traveling is there.”
Cruz, who has worked with communities and organizations around the world, emphasizes that while the M.A. in Applied Economics moves in new directions, it will continue to approach the studies from an ethical viewpoint that centers on making the world better. “We want to help students to acquire the technical skills, but also the ethical understanding on how to go about making policy decisions, the creation of programs, allocation of resources.
“As economists, we are always exploring possibilities for better solutions,” she said. “And so, with this program that gives students the knowledge on how to assess what works, what doesn't work, we have the opportunity to make a real impact in the lives of people. Knowing that you can do something in trying to help others with your skills, with your knowledge, and reflecting on how education can be a good channel to help -- that is life changing.”