Economic Analytics, MS

Program Description

Students who earn a Master of Science (MS) in Economic Analytics learn to apply microeconomic theory, gather and describe economic data, estimate and interpret econometric models, create data-driven correlational models for forecasting, and test hypotheses with inferential statistics to answer questions about the economy of business. The business might relate to automobile manufacturing, banking and finance, competitive sports, credit, energy, farming, health care, insurance, or real estate, among many others. The MS in Economic Analytics is designated a STEM degree by the Department of Homeland Security.

Plan for Combined Bachelor’s in Economics and Master’s in Economic Analytics

A Bachelor-to-Graduate plan enables undergraduate majors in economics (BA or BS) to take graduate courses and also earn their MS in Economic Analytics. An undergraduate economics major with an approved Bachelor-to-Graduate Plan may enroll in graduate courses for dual use and, thereby, satisfy course-content requirements of the Masters’ degree and the undergraduate major in economics. The numerical credits for a dual-use course, however, cannot satisfy the minimum credit requirements of both degrees. Students must earn at least 120 credits for their Bachelor’s degree and 30 unique credits for their Master’s degree. Students typically choose to have the numerical credits count toward the 30-credit minimum for the Master’s degree. A maximum of 12 credit hours of graduate courses that satisfy requirements for the MS in Economic Analytics may be taken for dual use. Approved graduate courses may satisfy electives of the bachelor’s degree. Approved 8000-level courses may substitute for required undergraduate courses in economics. However, 6000-level counterparts of 4000-level courses that are required for the bachelor’s degree cannot be used toward the requirements of the Master’s degree. The curricular requirements for the MS component of the Bachelor-to-Master plan are identical to those for the MS in Economic Analytics.

Undergraduate majors in economics who have earned a minimum of 90 credits at Clemson and have a minimum overall grade point average of 3.4 are eligible for the Bachelor-to-Master plan. Students use form “GS6-Bachelor-to-Graduate-Request for Combined Education Plan” to seek approval for participation in the plan. Economic majors should consult both their undergraduate academic advisor and the graduate program coordinator of the Master’s program. The student’s undergraduate advisor, chairperson of the Economics Department, graduate coordinator of the master’s program, and an official of the Graduate School all must approve the plan. Curricular details, suggested elective courses, and other information are available from the handbook at https://www.clemson.edu/business/departments/economics/masters/index.html.

Summary of Degree Requirements

Students must earn at least 30 credits of course work. They must earn 24 credits of graded courses and, for those who write a thesis, six credits of thesis research (ECON 8910 ) to satisfy the 30-credit minimum. To earn 18 of the 24 credits a student must take two three-credit, 8000-level courses in each of these three subjects: 1) applied microeconomic theory, 2) data analysis for economics, and 3) applied econometrics. An MS student must also take at least six credits of elective courses in economics, statistics, or subjects from other departments with approval of the MS program coordinator and the student’s advisor. A minimum of one-half of the total graduate credit hours that a student’s advisory committee requires, exclusive of credits for thesis research, must be earned from 8000-level courses or above. In other words, not more than one-half of the credits from graded courses that the advisory committee requires may be from 6000-level courses. Two semesters of four three-credit graded courses per semester usually prepare the student for thesis work. A student must also maintain a 3.0 graduate grade-point average. 

Coursework

Following is a typical schedule for one year of courses for the MS in Economic Analytics.

Fall

• ECON 8230 - Microeconomics for Public Policy 3 Credits  
• ECON 8600 - Data Analysis for Economics 3 Credits  
• ECON 8700 - Economic Analytics for Business 3 Credits  
• 6000- or 8000-level ECON or other pre-approved elective course 3 Credits

Fall Subtotal: 12 Credits

Spring

• ECON 8430 - Markets, Competition and Strategy 3 Credits  
• ECON 8610 - Advanced Data Analysis for Economics 3 Credits  
• ECON 8710 - Advanced Economic Analytics for Business 3 Credits  
• 6000- or 8000-level ECON or other pre-approved elective course 3 Credits

Spring Subtotal: 12 Credits

Summer

• ECON 8910 - Master’s Thesis Research  6 Credits

Total for three terms in 12 months: 30 Credits

Students fill out a GS2 Committee Selection form to create an advisory committee. The major advisor and other members of the advisory committee help students to select courses that meet curricular requirements and provide appropriate training for goals. Students must also file a GS2 Plan of Study. Required courses, elective courses, and any undergraduate co-requisite course that addresses a deficiency in background are listed in the GS2 Plan of Study.