Mission

The M.A. in Applied Economics at the Lebanese American University provides prospective students with a solid background in economic theory and applied quantitative methods. The program provides a rigorous treatment of economic methods and policies preparing future professionals for jobs as applied economists in the private and public sectors.

The program is also designed to be an intermediate step to a Ph.D. in Economics or related fields.

The program is structured so that a full-time student can complete the course of study within two calendar years. The program can also be followed on a part-time basis. The program consists of 30 credits with core courses emphasizing advanced Microeconomics, Macroeconomics, Econometrics and Quantitative Methods. A selection of diverse topics (totaling 12 credits) constitutes the elective component. The topics courses survey current policy issues in local, regional and international contexts. The program includes a capstone project that involves work outside LAU with external constituents (e.g., research institutes, specialized regional and international organizations and agencies, banks). The capstone project is supervised by a faculty member from the Department of Economics during the last semester.

Program Objectives

Upon completion of the program, graduates will:

1. Possess advanced knowledge in the areas of microeconomics, macroeconomics and econometrics; and
2. Be capable of using economic theory and econometric models for assessing public policies.

Program Outcomes

Upon completion of this program, students will be able to:

1. Understand and work with advanced macroeconomic and microeconomic models;
2. Apply advanced mathematical and econometric techniques to analyze economic data;
3. Interpret and critically evaluate articles in the economics research literature;
4. Use advanced economic theory and empirical methods to evaluate public policy decisions; and
5. Critically analyze government economic policies.

Admission Requirements

Applicants to the program must hold a Bachelor’s degree in Economics, or in any related field (such as finance) or in a quantitative field, and have a minimum GPA of 3.0. Students applying from majors other than Economics will be required to take upper-level remedial courses based on each student’s undergraduate background.

Graduate Assistantship

Funding, in the form of graduate assistantships, pays for tuition in part or full, in exchange for research or teaching support for faculty. All prospective students who register for six credits a semester are eligible to apply for assistantships (more information can be found in the Graduate Academic Rules and Procedures).

Graduation Requirements

A total of 30 credits are required to complete the degree, based on:

Program Requirements

An Applied Economics Project is required of all students in addition to successful completion of the course of study.

Core Requirements (15 credits):

• ECO822 Advanced Macroeconomics
• ECO821 Advanced Microeconomics
• ECO831 Applied Econometrics I
• ECO832 Applied Econometrics II
• ECO840 Mathematical Methods for Applied Economics

Elective Courses (12 credits with minimum 6 credits in Economics):

• ECO850 Environmental and Resource Economics
• ECO835 International Monetary Theory and Policy
• ECO852 Public Economics
• ECO855 Growth, Business Cycles and Economic Policy
• ECO880 Special Topics in Economics
• ECO861 Economic Policies in the Middle East
• ECO863 Challenges of Economic Development in the Middle East
• FIN861 Financial Management
• FIN863 Financial Derivatives
• FIN836 Modern Portfolio Management
• FIN835 Commercial Bank Management

Applied Economics Project (3 credits):

• ECO898 Applied Economics Project

Study Plan

Year One

Fall (9 credits)

• ECO821 Advanced Microeconomics (3 cr.)
• ECO822 Advanced Macroeconomics (3 cr.)
• Economics Elective (3 cr.)

Spring (9 credits)

• ECO831 Applied Econometrics I (3 cr.)
• ECO840 Mathematical Methods for Applied Economics (3 cr.)
• Economics Elective (3 cr.)

Year Two

Fall (9 credits)

• ECO832 Applied Econometrics II (3 cr.)
• Economics Elective or Finance Elective (3 cr.)
• Economics Elective or Finance Elective (3 cr.)

Spring (3 credits)

• ECO898 Applied Economics Project (3 cr.)

Career Opportunities

Students are prepared to work after graduation in business, government and finance, or to pursue Ph.D. studies in Economics or Finance. Applications of economic theory and tools are emphasized, and students are prepared to integrate into the job market immediately. The following is a suggestive list of career opportunities available to our M.A. in Applied Economics graduates:

• Economist in the private sector
• Economist in the public sector
• Economist in international organizations
• Economic consultancy positions
• Data Analyst in the private sector
• Policy adviser (local and international organizations)