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M.S. in Economics-Quantitative Economics

Normal, Illinois

 

INTAKE: Jan & Aug

Program Overview

The M.S. in Economics - Quantitative Economics program at Illinois State University is a specialized and intensive graduate degree that focuses on equipping students with advanced quantitative skills to analyze complex economic issues. This program is designed to provide students with a solid foundation in economic theory, statistical methods, and econometrics, enabling them to conduct rigorous empirical research and make data-driven decisions in various economic sectors. The program offers a wide range of elective courses, allowing students to tailor their studies to their specific career goals and interests. Elective topics may include environmental economics, health economics, labor economics, and more.

  1. Core Economics Courses: The program includes core courses in microeconomic and macroeconomic theory, offering students a comprehensive understanding of economic principles and their applications.

  2. Quantitative Methods: Students are exposed to a range of quantitative methods, including advanced statistics, econometrics, and mathematical modeling. These skills are essential for conducting sophisticated economic analysis and interpreting data.

  3. Econometric Applications: The curriculum emphasizes the application of econometric techniques to real-world economic problems. Students learn to analyze economic data, identify causal relationships, and test economic hypotheses using econometric software.

  4. Advanced Economic Analysis: The program includes courses that explore advanced topics in economics, such as game theory, industrial organization, and monetary economics. These courses provide students with specialized knowledge in specific areas of economics.

  5. Research Projects: Students have opportunities to engage in research projects, working closely with faculty mentors to develop their research skills and explore their interests in quantitative economics.

  6. Thesis or Capstone Project: As part of their program requirements, students may choose to complete a thesis or capstone project, demonstrating their ability to conduct independent research and apply quantitative methods to real-world economic issues.

  7. STEM-designated Program: The M.S. in Economics - Quantitative Economics program at Illinois State University is designated as a STEM (Science, Technology, Engineering, and Mathematics) program. This designation recognizes the program's emphasis on quantitative and analytical skills, which are highly valued in today's data-driven economy. The STEM designation also provides international students with the opportunity for extended Optional Practical Training (OPT) in the United States after graduation, enhancing their career prospects.

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Location

Normal, Illinois

Pollster Education

Score

IELTS: 6.5

Pollster Education

Tuition Fee

USD 23380

Entry Requirements for International Students (Postgraduate)

Application Fees : US$ 63

  1. Academic Qualifications: A minimum GPA of 3.0 on a 4.0 scale or an equivalent percentage (typically 60% and above) is often required.

  2. English Language Proficiency: The minimum required scores for each test are as follows:

    • IELTS: Overall score of 6.5 with no band less than 6
    • TOEFL: Minimum score of 79 (iBT)
    • PTE: Minimum score of 60
    • DET (Duolingo English Test): Minimum score of 105
  3. GRE (Graduate Record Examination): Some programs may request GRE as part of the application process. The minimum required GRE score is often around 300.

ISU offers several scholarships and financial aid options for international students to help them pursue their academic goals. These scholarships are based on academic achievements, leadership skills, and other criteria. 

  1. International Tuition Waiver: International students who demonstrate exceptional academic performance and show promise for contributing to the ISU community may be eligible for tuition waivers. These waivers can significantly reduce the cost of tuition.

  2. Redbird Academic Scholarship: This scholarship is awarded to incoming undergraduate international students who have outstanding academic records. The scholarship amount varies depending on the student's academic achievements.

  3. Redbird International Ambassador Scholarship: This scholarship recognizes outstanding leadership skills and contributions to the international community. Recipients of this scholarship serve as ambassadors for international students at ISU.

  4. College-Specific Scholarships: Various colleges within ISU offer scholarships for international students pursuing specific academic programs. These scholarships are often based on academic performance and potential for success in the chosen field of study.

  5. Study Abroad Scholarships: ISU encourages international students to engage in study abroad programs to gain global experiences. The university offers scholarships to support international students' participation in these programs.

International students interested in applying for scholarships at ISU should review the specific eligibility criteria and application deadlines for each scholarship.

Graduates of the M.S. in Economics - Quantitative Economics program are well-prepared to pursue various career paths in both the public and private sectors.  

  1. Economic Research Analyst: Graduates can work as economic research analysts, conducting economic research, analyzing data, and producing reports to inform economic policy and decision-making.

  2. Data Analyst: Graduates may pursue roles as data analysts, using their quantitative skills to analyze and interpret economic data for businesses and organizations.

  3. Economic Consultant: Graduates can work as economic consultants, providing specialized economic expertise and advising clients on economic matters.

  4. Market Research Analyst: Graduates may choose to work as market research analysts, analyzing economic trends, consumer behavior, and competitive landscapes to help businesses make strategic decisions.

  5. Policy Analyst: Graduates can work as policy analysts, contributing their quantitative expertise to analyze the impact of economic policies and recommend policy changes.

  6. Financial Analyst: Graduates may pursue careers as financial analysts, analyzing economic data and trends to help guide investment decisions and financial planning.

The M.S. in Economics - Quantitative Economics program at Illinois State University offers students a rigorous education in quantitative economic analysis. Graduates are equipped with advanced skills in econometrics, statistical analysis, and economic research, making them highly desirable candidates for various economic roles in both the public and private sectors. The program's STEM designation further enhances its appeal and provides international students with valuable opportunities for career advancement in the United States.

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