Applied Economics (MS)

In the San Francisco Bay Area, the development of advanced technologies is altering the way people live and work. Digital markets are fundamentally changing interactions between consumers, businesses, organizations and governments throughout the world. As a next-generation economist with an MS in Applied Economics, you will have the skills to take a leadership role in this dynamic environment.

A Career in Applied Economics

• The application of applied economics can be versatile, and a master of science in applied economics opens up career opportunities across multiple sectors. Here is a list of jobs you might pursue with this degree.

A Leading-Edge Economics Curriculum

• To give students the skills needed for the new kinds of jobs being created every day in the AI-powered digitized economy, our curriculum integrates economics and data science from day one. Students gain a foundation in major programming languages like Python and R in their first semester alongside core microeconomic theory. They then learn to apply these tools to acquire, visualize, and analyze data in economic applications as they study topics including pricing, the design of market platforms, and auctions. At the same time, they continue to learn new tools through courses in econometrics, experiments, machine learning, and other aspects of causal inference and research design.

Join the San Francisco Tech Economics Scene

• The San Francisco Bay Area is the birthplace of businesses in the new digital economy. From San Francisco to Silicon Valley, these firms are learning to benefit from massive data flows and dynamic business models that allow them to understand consumers in great detail and adjust their product and service offerings quickly – without interruption. This work demands the type of sophisticated quantitative economists that are graduates of the MS in Applied Economics at USF. With hundreds of these firms in the area, our students easily gain real-world knowledge and experience to launch exciting careers.
• Graduates of the Applied Economics program have achieved success in their careers in the Bay Area and beyond, joining teams at companies including Google, Visa, Shell and more. Others also pursue further study in applied economics in a PhD program.

Positions & Employers
A partial list:

• Software Engineer, Mpower Logic
• Research Analyst, Apartment List
• Data Scientist, Milliman
• Data Science Fellow, Correlation One
• EU Policy Researcher, Shell
• Analyst, Business Science, MediaCom
• Data Manager, Aguilas
• Sales Operations Specialist, Rahi Systems
• Analyst, Business Analytics, Retail at Sephora
• Product Data Scientist, Fetch Rewards
• Associate Data Scientist, Citi
• Business Operations & Strategy, Kyte
• Administrator, On-Field Operations, Major League Baseball
• Data Analytics Manager, Development, University of San Francisco
• US Interchange Pricing Analyst, Visa
• Data Scientist, Evidi
• Vendor Manager, Amazon
• Portfolio Management Analyst, PG&E
• Data and Policy Analyst, Acumen LLC
• Data Scientist, Thumbtack
• Data Center Market Analyst, Intel Corporation
• Research Analyst, Polaris Pacific
• Data Analytics Engineer, Firework
• Team Lead, Enterprise Business Development - Data Analytics, Google Cloud, Google

Internships

• Although not required, most of our students seek out internships during the summer between their first and second year to gain practical experiences within the private and public sectors in the San Francisco Bay Area and beyond.

Summer internship examples:

• Corporate Risk Intern, Wells Fargo
• Product Manager Intern, Amazon
• Data Analyst, Akousist
• Process improvement Intern, Wiley
• Data Science Intern, TriNet
• Graduate Intern
• Renewables Portfolio, California Public Utilities Commission
• Client Operations Internship, True Capital Management
• Machine Learning Engineering Intern, Edmentum
• Data & Research Coordinator, Habitat for Humanity
• Economic Development Intern, City of Pittsburg - Economic Development Department

The Master of Science in Applied Economics at the University of San Francisco trains students to apply the theoretical insights and empirical techniques of modern economics to practical problems in the business, government, and non-profit sectors.

This 36-unit program focuses in particular on the skills needed in the increasingly digitized economy. Manipulation and analysis of data using industry-standard programming languages is an integral part of the curriculum from day one. Students learn how to use the tools of economics to grapple with the implications of the new markets and new information sources created by advances in information technology.

About the Program

• The Master of Science in Applied Economics generally requires two years of full-time study. In the first year, you will master the core mathematical, microeconomic, econometric and computational tools required for the field and study how these tools are used in cutting-edge academic research and business applications. In the summer after the first year, students typically seek out internships with firms or other organizations in the Bay Area where they can begin to apply and hone their skills in a practical setting.
• In the second year, you will enhance your knowledge and skills through advanced courses. The completion of a capstone research project in the graduate seminar will demonstrate and solidify your ability to analyze real-world data, to draw conclusions from this data, and to communicate those conclusions clearly in oral, written and visual forms. You may also choose to take your capstone research to a higher level as a Master’s thesis or to pursue another internship.
• Classes are typically held in late afternoon and evening to facilitate internships or part-time work. Due to the requirements of coursework, students planning to graduate in two years will not be able to work full time. A flexible three-year option is also available for students who wish to continue full-time employment.

Program Learning Outcomes

• Economic Data Manipulation: Students will be able to effectively use modern programming languages to clean, organize, query, summarize, visualize, and model large volumes and varieties of data. 
• Economic Data Analytics: Students will possess a theoretical and applied understanding of the use of econometrics and statistics for descriptive and causal inference. 
• Applied Economic Theory: Students will be able to understand and apply economic theory to understand how businesses and other organizations interact with each other and with users/customers/clients and use this understanding to guide data analysis. 
• Economic Problem Solving: Students will be able to solve real-world data-driven business and policy problems working with economists, policy makers, data scientists and business practitioners. 
• Economic Communication: Students will be able to communicate their research approach and findings at an excellent level, both in writing and verbally.

Major Requirements (36 units)
Mathematical Foundations (4 units)
Students learn the core mathematical techniques that underpin modern economic and econometric theory and practice.

Students must take at least 4 units of coursework in this category.

• ECON 615 - Mathematics for Economists
• Microeconomic Foundations (4 units)
• Students learn microeconomic frameworks that guide sophisticated empirical analyses.

Students must take at least four units of coursework in this category.

• ECON 501 - Applied Microeconomic Theory
• ECON 601 - Microeconomics: Theory & Appl
• ECON 603 - Core Microeconomic Theory
• ECON 640 - Institutions Markets Platforms
• ECON 641 - Micro for Digitized Economy
• ECON 663 - Experimental Economics
• ECON 673 - Development Microeconomics

Data Analytics (14 units)

Students learn a variety of tools and techniques for manipulating and analyzing economic data. Students must take at least fourteen units of coursework in this category. Relevant courses from other programs may be substituted with advance approval from the program director.

• ECON 611 - Computation for Economics
• ECON 620 - Graduate Econometrics
• ECON 621 - Data Science for Economics
• ECON 622 - Machine Learning for Economics
• ECON 623 - Field Research Methods
• ECON 624 - Fundamentals of Macro Data
• ECON 625 - Econometrics of Fin Markets
• ECON 626 - Experiments & Causal Inference
• ECON 630 - Special Topics Econometrics
• ECON 631 - Data Visualization
• ECON 636 - Econometrics: Panel Data
• ECON 637 - Econometrics: Causal Methods
• ECON 638 - Adv Applied Econometrics
• ECON 663 - Experimental Economics
• ENVM 673 - Accelerated Intro to GIS
• ENVM 674 - Accelerated Intermediate GIS
• ENVM 675 - Advanced GIS
• MSDS 596 - EDA, Visualization, and Ethics
• MSDS 597 - Data Management
• MSDS 598 - Modeling I
• MSDS 599 - Modeling II: Machine Learning

Professional Communication (2 units)
Students develop their communication skills in the context of economic analysis. At least 2 units of coursework must be taken from this category.

• PC 680 - Graduate Program Writing
• ECON 640 - Institutions Markets Platforms
• ECON 665 - Law and Economics

Independent Research (4 units)
All students must take at least 4 units of courses that develop independent research skills, applying the tools and concepts learned in the rest of the program.

• ECON 692 - Applied Economics Seminar
• ECON 696 - Internship
• ECON 698 - Directed Reading/Research
• ECON 699 - Thesis

Electives (8 units)

Students complete their 36-unit curriculum by taking electives. Any graduate-level economics courses may be used as electives, and selected courses from other departments listed here. Additional courses from other programs may also be substituted, subject to advance approval from the program director.

• ECON 501 - Applied Microeconomic Theory
• ECON 601 - Microeconomics: Theory & Appl
• ECON 602 - Macroeconomics: Theory & Appl
• ECON 603 - Core Microeconomic Theory
• ECON 611 - Computation for Economics
• ECON 615 - Mathematics for Economists
• ECON 620 - Graduate Econometrics
• ECON 621 - Data Science for Economics
• ECON 622 - Machine Learning for Economics
• ECON 623 - Field Research Methods
• ECON 624 - Fundamentals of Macro Data
• ECON 625 - Econometrics of Fin Markets
• ECON 626 - Experiments & Causal Inference
• ECON 630 - Special Topics Econometrics
• ECON 631 - Data Visualization
• ECON 636 - Econometrics: Panel Data
• ECON 637 - Econometrics: Causal Methods
• ECON 638 - Adv Applied Econometrics
• ECON 640 - Institutions Markets Platforms
• ECON 641 - Micro for Digitized Economy
• ECON 663 - Experimental Economics
• ECON 665 - Law and Economics
• ECON 670 - International Economics
• ECON 672 - Economics of Development
• ECON 673 - Development Microeconomics
• ECON 674 - Development Macroeconomics
• ECON 676 - Nat Resource Econ & Dev Policy
• ECON 690 - Development Economics Seminar
• ECON 691 - Special Topics in Economics
• ECON 692 - Applied Economics Seminar
• ECON 696 - Internship
• ECON 698 - Directed Reading/Research
• ECON 699 - Thesis
• ENVM 673 - Accelerated Intro to GIS
• ENVM 674 - Accelerated Intermediate GIS
• ENVM 675 - Advanced GIS
• MSDS 596 - EDA, Visualization, and Ethics
• MSDS 597 - Data Management
• MSDS 598 - Modeling I
• MSDS 599 - Modeling II: Machine Learning
• PC 680 - Graduate Program Writing

Optional Thesis

• Students who have completed Econ 601, 611, 615, and 620 with a grade point average of 3.5 or higher are eligible to write a master's thesis. The petition for thesis completion must be addressed to the Economics Department along with the research paper and the endorsement of the research adviser. The completion of a master's thesis will include an oral examination, signature of the final product by three faculty members including the thesis adviser, and final approval by the Dean of the College of Arts and Sciences. A copy of the thesis will be made available for general consultation in Gleeson Library.

Not more than 6 units of the basic program minimum of 36 units may be counted toward research associated with a thesis or research project. Students may register for additional research units over and above the basic program requirements.