Academic Catalog 2019–2020

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Master of Arts in Applied Economics

Overview

The study of economics has changed considerably since the introduction of mathematical and econometric methods of analysis. The Master of Arts (MA) in Applied Economics provides interested candidates with an in-depth understanding of economic theory and applied quantitative methods.

The program prepares future professionals for jobs as applied economists in the private and public sectors. The student will learn how to gather, read and assess economic data, as well as conduct relevant policy analyses that are most valued by businesses, organizations, and policymakers. The program is also designed to be an intermediate step to the PhD in Economics or related fields.

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, preparing graduates for careers in the economic sector.

Program Objectives

Upon completion of the program, graduates will:

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

Learning 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
  5. critically analyze government economic policies

Admission Requirements

Admission to the graduate programs offered at the Adnan Kassar School of Business follows the LAU general graduate requirements.

In addition, applicants to the program must hold a bachelor’s degree in economics or in any related field (such as finance with a minor in economics) or in a quantitative field (i.e. mathematics, physics, computer science, engineering) and have a minimum GPA of 3.0.

Graduate Assistantship

Funding in the form of graduate assistantships pays for tuition in part or in 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 is found in the Graduate Academic Rules and Procedures.

Curriculum

In addition to core courses emphasizing advanced microeconomics, macroeconomics, econometrics and quantitative methods, the program includes a selection of diverse topics constituting the elective component, as well as a capstone project.

The topic courses survey current policy issues in local, regional and international contexts.

The capstone project involves work outside LAU with external constituents (banks, research institutes, and specialized regional and international organizations and agencies). The capstone project is supervised by a faculty member from the Department of Economics during the last semester.

A total of 30 credits are required to complete the degree, distributed as follows:

  • Core Requirements (18 credits)
  • Elective Courses (9 credits)
  • Capstone Project (3 credits)

Core Requirements (18 credits)

  • ECO821 Advanced Microeconomics (3 cr.)
  • ECO822 Advanced Macroeconomics (3 cr.)
  • ECO831 Applied Econometrics I: Cross Section and Panel Data (3 cr.)
  • ECO832 Applied Econometrics II: Time Series Data (3 cr.)
  • ECO833  Applied Econometrics III: Empirical Strategies for Applied Microeconomics (3 cr.)
  • ECO840 Mathematical and Computational Models in Applied Economics (3 cr.)

Elective Courses (9 credits with a minimum of 6 credits in Economics)

  • ECO835 International Monetary Theory & Policy (3 cr.)
  • ECO850 Environmental & Resource Economics (3 cr.)
  • ECO852 Public Economics (3 cr.)
  • ECO855 Growth, Business Cycles & Economic Policy (3 cr.)
  • ECO861 Economic Policies in the Middle East (3 cr.)
  • ECO863 Challenges of Economic Development in the Middle East (3 cr.)
  • ECO880 Special Topics in Economics (3 cr.)

List of non-economics elective courses:

  • ACM724 Linear Programming (3 cr.)
  • CSC615  Machine Learning (3 cr.)
  • CSC688C Advanced Topics CSC: Data Visualization (3 cr.)
  • FIN835  Commercial Bank Management (3 cr.)
  • FIN836  Modern Portfolio Management (3 cr.)
  • FIN863  Financial Derivatives (3 cr.)
  • IGS725   Gender and Public Policy (3 cr.)
  • INA831   International Political Economy (3 cr.)
  • MIG765  Migration and Development (3 cr.)
  • OPM880C Special Topics OPM: Operations Management (3 cr.)

Applied Economics Project (3 credits)

  • ECO898 Applied Economics Project (3 cr.)

Recommended Study Plan

Year One

Fall (9 credits)

  • ECO821 Advanced Microeconomics (3 cr.)
  • ECO831 Applied Econometrics I: Cross Section and Panel Data (3 cr.)
  • ECO840 Mathematical and Computational Models in Applied Economics (3 cr.)

Spring (9 credits)

  • ECO822 Advanced Macroeconomics (3 cr.)
  • ECO832 Applied Econometrics II: Time Series Data (3 cr.)
  • Program Elective I (3 cr.)

Year Two

Fall (9 credits)

  • ECO833  Applied Econometrics III: Empirical Strategies for Applied Microeconomics (3 cr.)
  • Program Elective II (3 cr.)
  • Program Elective III (3 cr.)

Spring (3 credits)

  • ECO898 Applied Economics Project (3 cr.)

Career Opportunities

The MA in Applied Economics provides many career opportunities. Since applied economics deals with the application of theories and research, graduates may find diversified jobs in fields such as corporate business economics, government consulting, international affairs/ international development, non- profit, and policy making and assessments. Students may also choose to pursue a Ph.D. and a career in research/academia.