A Master's degree in economics typically involves one or two years taking courses in microeconomics, macroeconomics, econometrics, and selected field courses. In addition to the coursework, most programs require a thesis or research project.
For some students, a Master's degree program in economics is selected to prepare for admission to a Doctoral degree program. Successfully completing the more advanced master's-level economics coursework is a good signal to the Ph.D. admissions committee, even for students who were economics majors. Students who did not receive adequate training in mathematics and statistics during their undergraduate studies will often take additional mathematics and statistics courses during their Master's degree program.
For other students, a Master's degree in economics is a terminal degree, designed to help them advance in their chosen career. Students from a variety of backgrounds pursue a Master's degree in economics and most were not economics majors. These students are seeking national data analysis and theoretical modeling skills. In comparison to an MBA, a Master's degree in economics is typically more focused and can be completed in less time.
In some doctoral programs, a Master's degree in economics is awarded at the completion of some portion of the Ph.D. degree requirements.