Masters of Arts in Economics, Applied Economics Specialization

Online Master of Arts in Economics, Applied Economics Specialization

Program Length:
20 Months
Credit Hours:
30
Total Classes:
10
Cost Per Credit:
$2,000

Program Start Dates:

  • Spring 2025, January 13
  • Summer 2025, May
  • Fall 2025, August

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See How You Can Make a Difference

At American University, our policy-centered curriculum is taught by esteemed economists and scholars who have studied key economic and societal issues such as how to best serve children in foster care and prevent sex trafficking, and the gains and losses from trade protection.

As you earn your online Master of Arts in Economics, Applied Economics degree, they’ll prepare you to analyze data and human and organizational behavior, interpret economic models, test hypotheses, and apply your analysis to economic policy.

Our graduates are able to communicate critical information and policy recommendations to a wider audience that includes legislatures, advocates, interest groups, lobbyists, and legislative aids that write the text of the law.

Graduates also qualify to sit for the Certified Business Economist (CBE) exam by the National Association for Business Economics (NABE).

Jump to Applications & Scholarships information.

Ranked number 5

Best Online Master in Economics Degree Program — TheBestSchools.org, 2021

Program Objectives

Prepare for Excellence

The online MA in Applied Economics is a policy-oriented program that prepares you for excellence in the top three skills economists need to make a difference in the world: Using economic theory to make predictions or explain outcomes, to answer questions thoroughly using econometrics and data analysis, and to communicate economic information to all audiences in a way they easily understand. Graduates can:

  1. Research Properly

    Find and collect data and test hypotheses using the appropriate statistical tools.

  2. Use Industry Tools

    Employ Stata and other state-of-the-art industry tools to analyze data.

  3. Communicate Outcomes

    Translate the implications of your work for economists and non-economists alike.

  4. Make Predictions

    Use economic models to predict the changes in various economic indicators.

  5. Make an Impact

    Make impactful, ethical and profitable decisions in the local and global economy.

  6. Solve Economic Models

    Acquire the higher mathematical skills to provide solutions to current challenges.

Become a Changemaker

Before graduating, you’ll complete a capstone project that has you choose a topic of economic interest, develop a testable hypothesis and then choose the dataset and econometric model to test your hypothesis. You’ll complete a formal paper and presentation on your research as you would in the real world.

Examples of current capstone projects include:

  • Impact of the 2015 State-Level Minimum Wage Increases on Income and Hours Worked
  • Examining the Existence of Asset Poverty Trap by Asset Dynamics: Revisiting the Indian Case
  • Impact of Syrian Refugee Influxes on the Labor Market Outcomes of Jordanian Women

Alum Spotlight: Jordan Prassinos

Jordan Prassinos.With two small children, Jordan says it was challenging at times to balance work, family, and the program. But it was all very worthwhile:Ěý“Planning and consistency were the key. There were several times when I felt overwhelmed, but with confidence in myself and a good study plan for the day, week, and month, I knew it would be okay. Consistency won the day.”
—Jordan Prassinos, MA Economics Online, Applied Economics Specialization

While living in Idaho and completing his master’s degree entirely online, Jordan Prassinos (MA Economics ’24) has received American University’s 2024 Jose and Ursula Epstein Prize for outstanding performance in the MA in Economics program.

Jordan’s classroom performance was exceptional, says Professor and Department Chair Kara Reynolds. He also produced a standout capstone, which examined whether democratic institutions enhance the impact of financial development on economic growth in emerging markets. Given Jordan’s findings that robust democratic institutions must go hand in hand with strong financial institutions to promote economic growth, the apparent decline in democratic institutions worldwide could result in a decline in economic growth later down the line.ĚýĚý

Jordan notes that American University’s Economics program does not require students to memorize every equation. Instead, it encourages them to think more broadly and understand the intuition behind economic models. “Understanding 'the why' helps students to critically think through concepts and problems,” he says.Ěý


Applications & Scholarships

Your undergraduate degree does not need to be in economics to apply. Our online Master of Arts in Applied Economics is open to students with varied undergraduate backgrounds from an accredited college or university.

Applicants will need to submit the following:


All applicants are considered for the Online Merit Scholarship of up to $14,000 during the application review — no separate application is required.

*The application fee is typically waived if the application file is complete within a three-week period.

ScholarshipsOnline Merit Scholarship up to $14,000 — No Separate Application Required

Prospective students who have a cumulative 3.0 GPA or above (on a 4.0 scale) in their undergraduate program can qualify for the Online Merit Scholarship of up to $14,000. As part of your application process, your academic history will be reviewed to see if the scholarship can be applied; there is no separate application to fill out.

You’ll be notified of the scholarship status when you’re admitted to the program, or shortly thereafter.

To receive the scholarship, which is applied equally to the first and fifth courses of the program, you must remain in good academic standing.


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The appearance of US Department of Defense (DoD) visual information does not imply or constitute DoD endorsement.

Military Education Benefits

American University is dedicated to supporting military service members, veterans, and their families.

As an online student of the Master’s in Economics, Applied EconomicsĚýprogram, you can transform your military experience and leadership skills into new career possibilities as you earn your degree, regardless of where you live or are stationed.

We support a full range of military education benefits such as:

  • Post-9/11 GI Bill®
  • Montgomery GI Bill® (MGIB)
  • Tuition Assistance (TA)
  • Yellow Ribbon Program

Additionally, if you’ve served in any branch of the USĚýmilitary on active duty within the past three years, you’re eligible for an application fee waiver. We accept transfer credits from military coursework, have a dedicated Office of Veterans Services to help connect you to benefits, and maintain an active Veterans Services Support Network.

We welcome you to learn more about ourĚýmilitary benefitsĚýandĚýhow to applyĚýfor them.

Disclaimer: GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government website:Ěý

Take Your First Step Today

Become an American University student. A passion for public service, an emphasis on active leadership, and a global outlook are the hallmarks of the American University learning experience. We create graduates who stand out from their peers as active, socially aware, and compassionate leaders who work toward creating meaningful change in our world.

Join Us.

To learn more about American University’s MA in Economics, Applied Economics, request more information with the form above, , or call us toll-free atĚý855-725-7614.


Program FAQs

Degree requirements for the MA in Economics include a bachelor’s degree from a regionally accredited college or university. Students are also expected to have completed Calculus I (or its equivalent) prior to starting coursework in the program.

Applicants will need to submit the following:

  • CompletedĚý
  • Statement of purpose
  • ¸éĂ©˛őłÜłľĂ©
  • Official transcripts
  • TwoĚýletters of recommendation
  • $55 application fee*

They will also need to complete a phone interview with a department lead.

Calculus I (or its equivalent) or the CLEP exam must be completed prior to starting coursework in the program.

Yes – it is not a requirement to have an undergraduate degree in economics. Many of our students come from other areas of study.

The program can be completed in as little as 20 months.

No, a GRE test is not required.

We may accept up to six hours of graduate work from another institution that applies directly to the MA in Economics degree.

Students with a weak academic background may be admitted with provisional status. Students who are admitted provisionally must have a cumulative GPA of at least 3.0 after the completion of the first nine credit hours of graduate study at American University or they will be academically dismissed.

A TOEFL score of 600 (or 100 on the internet-based test), a minimum score of 68 on the Pearson Test of English, or a minimum IELTS score of seven (7) is required. Additionally, applicants with international transcripts must have them evaluated course by course. For a list of acceptable evaluators, go toĚý.

Applicants will also need to submit:

  • Completed
  • Statement of purpose
  • ¸éĂ©˛őłÜłľĂ©
  • Official transcripts
  • TwoĚýletters of recommendation
  • $55 application fee*

Applicants will also complete a phone interview with a department lead.

*The application fee is typically waived if the application file is complete within a three week period.

Our application deadline varies based on the term you are applying for. Please note that the earlier you submit your application, the sooner you’ll know whether you’ve been awarded the Online Merit Scholarship. Please contact ourĚýĚýadvisors for a specific timeline as to when your application file needs to be fully submitted.

Yes, graduate students enrolled at least half-time in a master’s program may be eligible for federal loans. To apply, students must submit theĚý. American University’s FAFSA code is 001434.

Students completing our program are likely to find a career in economics in one of the three following categories: Economic Consulting/Private Industry, Government Agencies or Not-For Profits/International Agencies. Learn more about ourĚý.

Yes, online students can easilyĚýrequest a Student ID onlineĚýto take advantage of all the same resources as our on-campus students.

American University is pleased to offer the Online Merit Scholarship to students who demonstrate undergraduate excellence and continue on to graduate studies. Scholarships are available to students who meet the eligibility requirements.


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