Economics
MA in economics
Advance your career with the MA in Economics program at the University of Tennessee, Knoxville. Designed for aspiring economists, this program provides the analytical and quantitative skills necessary to succeed in academic, corporate, or public sector roles. Join a community committed to shaping the future of economic thought and application.
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Economics
Program Overview
The MA in Economics program is designed to prepare students for careers in economics and/or finance in the private and public sectors, and to provide advanced work for those interested in pursuing a Ph.D. in economics, finance or a related field. This coursework-only degree typically takes two to three semesters to complete. An accelerated (“4+1”) program option allows University of Tennessee-Knoxville undergraduate students majoring in economics or finance to complete the MA in Economics with only two additional semesters of coursework.
Acquire marketable skills
The program focuses on advanced theoretical and applied skills that are valued by employers in both the private and public sectors.
Expand your job opportunities
Many professional jobs related to economics and finance require advanced training. Be in control of your career path and do not just settle on one.
STEM designation
This is a STEM designated program. It also is an Optional Practical Training program, which affectively allows international students to work in the U.S. for up to three years after graduation before needing a work visa.
A high return on your investment
Average starting salaries are about $20k higher for those with a master’s versus a bachelor’s degree in economics or finance, and the gap widens with time in the workforce. Considering the degree can be completed in as little as 10 months, this is a wise investment in your human capital.
Prepare for a PhD program
Earning an MA increases your chance of getting into a top program and successfully completing a PhD. The quantitative rigor of PhD programs in economics and finance represents a considerable step up from an undergraduate program, and a master’s degree helps to bridge this knowledge gap.
Launch your career sooner rather than later
The accelerated timeline of two to three semesters means you do not have to wait long before starting your career.
Program Features That Set You Apart
Through a combination of theoretical models and empirical skills, professional economists are uniquely equipped to evaluate public programs and business strategies, study and understand human behavior and markets and offer effective solutions to policy makers, businesses and households.
While many programs teach analytical skills and provide experience working with data, UT’s M.A in economics goes further. The curriculum roots analysis in human behavior and economic systems, providing a framework to simplify complex, real-world problems and understand critical tradeoffs. Instead of identifying patterns and correlations, you will learn to use data to uncover causal relationships and develop actionable solutions.
Your Path Starts Here
The core curriculum delivers the theory and quantitative expertise expected of professionals working in economics and finance, with a focus on applications and computer skills development.
Students pursuing the Applied Economics Concentration are given flexibility to enhance their skillset in different ways. Most will take courses to acquire additional data, coding, and analysis skills. Others may elect to prepare for a career in public policy. Still others may take advanced coursework to prepare them for further graduate studies.
Students pursuing the Financial Economics concentration will develop skills in valuation, security pricing, risk analysis, and asset management.
Careers – What Can I Do With AN Economics DEGREE?
An MA in Economics opens doors to many career paths across industries. Graduates can excel in roles that leverage their analytical expertise and understanding of economic principles. Explore potential career options, the roles they entail, and how to pursue them.
What do economic analysts do?
Economic Analysts study data and trends to understand economic conditions and provide insights to organizations. They analyze market dynamics, government policies, and financial models to help businesses and governments make informed decisions.
How do I become an economic analyst?
To become an Economic Analyst, you need a strong foundation in economics and quantitative methods. Pursue an MA in Economics, focusing on data analysis, econometrics, and applied economics. Internships and research experience are also highly valuable.
How much do economic analysts make?
Economic Analysts typically earn between $65,000 and $90,000 annually, depending on their experience, industry, and location.
Economic Analyst
What do financial consultants do?
Financial Consultants provide expert advice to individuals or organizations to help them achieve their financial goals. They assess financial statements, create strategies, and offer solutions for investment, budgeting, and risk management.
How do I become a financial consultant?
To become a Financial Consultant, earn an MA in Economics and gain certification in financial planning or analysis, such as CFP or CFA. Develop strong interpersonal skills and gain experience through internships or entry-level finance roles.
How much do financial consultants make?
Financial Consultants earn an average annual salary of $75,000 to $120,000, with potential for higher earnings based on performance and client base.
financial consultant
What do policy advisors do?
Policy Advisors develop and evaluate public policies for governments, NGOs, or think tanks. They conduct research, analyze policy impacts, and make recommendations to improve societal outcomes in areas like healthcare, education, and economic development.
How do I become a policy advisor?
To become a Policy Advisor, pursue an MA in Economics with a focus on public policy or development economics. Build expertise in policy analysis and gain experience through internships with government agencies or research institutions.
How much do policy advisors make?
Policy Advisors typically earn between $70,000 and $95,000 annually, depending on their level of expertise and the organization they work for.
Policy Advisor
What do data scientists do?
Data Scientists use statistical and computational techniques to analyze large datasets, uncover trends, and solve complex problems. They work across various industries, including technology, finance, and healthcare.
How do I become a data scientist?
To become a Data Scientist, complement your MA in Economics with skills in programming (Python, R) and machine learning. Pursue certifications or courses in data analytics and gain hands-on experience through projects and internships.
How much do data scientists make?
Data Scientists typically earn between $90,000 and $130,000 annually, with higher salaries in specialized industries or roles.
data scientist
Curriculum
What You’ll Learn
The MA Economics degree requires 30 credit hours of coursework, which includes 15 credit hours of required coursework and 15 credit hours within a concentration. Students select between two concentrations: Applied Economic Analysis, and Financial Economics.
Fall Semester
ECON 521 – Applied Microeconomic Theory
3 Hours
ECON 581 – Mathematical Economics*
3 Hours
ECON 582 – Econometrics I
3 Hours
ELECTIVES**
3-6 Hours
Summer Term (if necessary)
ELECTIVES**
0-6 Hours
Spring Semester
ECON 523 – Applied Macroeconomic Theory
3 Hours
ECON 583 – Elements of Econometrics II
3 Hours
ELECTIVES**
6-9 Hours
*This course begins on or around August 1 and is an intensive 3-week course.
**To fulfill the Statistics minor, we recommend that students select one additional course from the IGSDSP list as one of their electives.
Economics
Concentrations
Choose a focus area that aligns with your career goals. Our concentrations offer tailored coursework to deepen your expertise and prepare you for specialized roles in economics and finance.
Applied Economic Analysis Concentration
Those pursuing this concentration take 15 credit hours of approved electives. At least six credits must be at the 500-level or above. Any 400-level courses applied to the M.A. degree must be approved and taken for graduate credit.
Students have the flexibility to select courses that best complement their career objectives. Elective courses cover many topics, including data science, programming, statistical methods, policy analysis, public administration and economic analysis. The full list of electives can be found in the graduate program handbook.
Representative Electives
- AI 501 – Foundations of AI
- AREC 570 – Advanced Natural Resource Economics
- CEM 503 – Health Data Management and Visualization
- COSC 505 – Introduction to Programming for Scientists and Engineers
- DATA 501 – The Data Science Toolkit
- GEOG 520 – Geovisualization and Geographic Information for Researchers
- HBS 545 – Sustainable Development
- PUBH 520 – Health Systems, Policy and Leadership
- STAT 577 – Applied Statistical Machine Learning
Financial Economics Concentration
Those pursuing this concentration take 15 credit hours of coursework in finance. Of these, six credits are in required courses and nine credits are electives. Up to nine credit hours can be at the 400-level. Any 400-level courses applied to the M.A. degree must be approved and taken for graduate credit.
Required Courses
- FINC 525 – Investment Analysis and Portfolio Management or a course selected in consultation with the program director and/or guidance committee
- FINC 555 – Financial Management: Theory and Practice, FINC 457 or a course selected in consultation with the program director and/or guidance committee
Representative Electives
- ENT 553 – UT Ventures
- FINC 540 – Fixed Income Analysis and Markets
- FINC 545 – Financial Derivatives
- FINC 571 – International Finance
- FINC 581 – Real Estate Investment and Finance
- FINC 595 – Investment Fund Management
Minor in Statistics/Graduate certificates
Students are strongly encouraged to earn a minor in statistics through the Intercollegiate Graduate Statistics and Data Science Program (IGSDSP). For master’s degree students, the minor requires nine credit hours selected from the approved IGSDSP course list. Because ECON 582 and ECON 583 are required courses for the M.A. in Economics, students in this program need only one additional approved course to complete the statistics minor. Several electives from the applied economic analysis concentration also satisfy the minor’s requirements.
The university offers a wide range of graduate certificates, which require a minimum of 12 credits. The following certificates can be earned using only coursework from the approved electives list for the applied economic analysis concentration: Agricultural and Environmental Policy, Data Science, Economic and Community Development and Energy Policy.
Economics Admissions
Applications
To be considered for admission to the MA in Economics program, candidates must submit a completed application through the online application portal administered by the Haslam College of Business.
As part of the application, candidates must include:
- Academic transcripts from all colleges and universities attended
- Professional resume or CV
- Three letters of recommendation*
- Graduate Record Exam (GRE) or Graduate Admission Test (GMAT) scores*
- Test of English as a Foreign Language (TOEFL) or the International Language Testing System (IELTS) scores, if the native language is not English
- $60 application fee
*Requirement is waived for University of Tennessee-Knoxville undergraduate economics and finance majors provisionally admitted to the 4+1 program.
Economics Admissions
Key Dates
- May 15: Deadline for domestic students
- February 1: Deadline for international students
- February 1: Priority deadline for domestic and international students to be considered for program-specific graduate assistantships, fellowships, and scholarships
EConomics Admissions
Graduate school admission requirements
The Graduate School sets admissions requirements that must be met before applicants can be considered for any degree program. These requirements are:
- For those requiring English certification, either a total score of 80 on the TOEFL or a 6.5 overall band score on the IELTS.
- Applicants must have obtained a bachelor’s degree from a college or university accredited by the appropriate regional accrediting agency, recognized by the Council for Higher Education Accreditation (CHEA). A non-U.S. degree must be equivalent to a bachelor’s degree from the United States and must be granted by a recognized or accredited foreign institution.
- United States degree holders must have earned a minimum of 2.7 out of a possible 4.0 or a minimum of 3.0 during the senior year of undergraduate study. If you have completed previous graduate coursework, you must have earned a minimum of 3.0 out of a possible 4.0
- Applicants with non-U.S. degrees must have earned a minimum of 3.0 on a 4.0 scale or other equivalent to a ‘B’ average. If you have completed previous graduate coursework, you must have earned a minimum of 3.3 out of a possible 4.0 or other equivalent to a ‘B+’ average.
EConomics Admissions
Program admission requirements
A bachelor’s degree in economics or finance is not required, but students need the right prerequisite coursework to qualify for the graduate program. It is strongly recommended that applicants have completed or plan to take the following courses (or their equivalent if coming from a different institution) prior to enrollment:
- Economic theory: Intermediate Microeconomic Theory (ECON 311) and Intermediate Macroeconomic Theory (ECON 313)
- Data analysis: Introduction to Statistics (STAT 201) and Introduction to Econometrics (ECON 381); students interested in the applied economic analysis concentration are further encouraged to take one or more additional courses in data science or data analysis
- Mathematics: Calculus I & II (MATH 141 & 142); alternatively, one semester of Calculus (MATH 125 or 141) and Mathematical Economics (ECON 482)
- Finance (financial economics concentration only): Financial Management (FINC 306), Financial Statement Analysis (FINC 420) and Investment and Portfolio Management (FINC 425)
- Additional coursework in economics, statistics and mathematics is desirable
Applicants with an undergraduate GPA below 3.0 are typically not considered. The average GPA varies with each incoming class, but usually exceeds 3.7.
The GRE (or GMAT) is required for non-UT economics and finance major applicants, but waivers will be considered. Students with a GRE quantitative score below the 60th percentile need to demonstrate quantitative ability in other ways, such as through prior mathematics coursework and recommendation letters.
Economics
Tuition & Funding Opportunities
Tuition and fees
An up-to-date schedule of graduate tuition and fees can be found at One Stop Student Services. For the 2026-2027 academic year (fall and spring semester combined), in-state tuition is $13,932 and out-of-state tuition is $32,462.
There is a special program fee of $200 per credit hour. This fee is charged for all courses, regardless of the academic unit offering them.
Funding opportunities
Learn about federal student loans and other need-based financial aid for graduate students at the financial aid for graduate students at One Stop Student Services.
No separate funding application is required. The economics and finance departments offer a limited number of graduate assistantships (10 hours per week). (s) The economics and finance departments also offer scholarships and opportunities to work for an hourly wage.
Haslam has committed to providing continuing UT students (regardless of undergraduate major) with a scholarship that matches the amount of their undergraduate Volunteer Scholarship. This scholarship does not apply to those with a graduate assistantship. Students awarded a scholarship from the program will receive the larger of the two scholarships.
Eligible Tennessee residents can receive the HOPE Scholarship for up to five years, including for graduate study.
Complete the Free Application for Federal Student Aid (FAFSA) by February 15.
UT’s Graduate School further provides fellowships and awards, and maintains a listing of graduate assistantships that are unrelated to a specific academic program..
MA in Economics
Frequently Asked Questions
How do I apply?
The application portal can be accessed through https://apply.haslam.utk.edu/apply/.
Can I apply for Spring semester admission?
Some of the required Spring semester courses have Fall semester courses as pre-requisites. Therefore, while students can begin the program in the Spring, this will necessarily lengthen the time to degree from 10-12 months to 17 months.
What code should I use for UT on standardized tests?
The UT code is 2834.
How do I request an application fee waiver?
We kindly ask that you do not email the program director or admissions staff to request a waiver. If you want to be considered for a waiver, you must complete and submit an admission application. It will be then at the discretion of the admission committee to decide whether to waive your fee. If you wish to receive full consideration for admission and funding, we strongly recommend that you pay the fee.
Can I complete this program online?
At this time, all required courses must be completed in person, on campus.
How do I apply for funding?
All applicants are automatically considered for funding from the program. There is no separate funding application.
When can I expect to receive an admission decision?
For Fall semester admissions, the deadline for international applicants, and the priority deadline for domestic applicants, is February 1. We strive to make initial admissions and funding decisions in late February or early March.
Is the GRE required?
The GRE or GMAT is required, although waivers are possible for those with especially strong quantitative backgrounds. UT economics and finance majors are exempted from this requirement.
Am I required to submit official transcripts and test scores?
For application review, you are permitted to upload copies of official transcripts and test scores. New and accepted applicants can find the relevant details here.
What are my chances of admission and/or receiving funding?
The college is unable to assess an applicant’s likelihood of admission or funding before an application is submitted. Admission and funding decisions are made through a competitive review process and depend on the overall strength of the applicant pool. As a result, individualized predictions or assessments cannot be provide in advance.
Is full funding (including tuition and living expenses) available?
A select few students are offered an assistantship that provides a monthly stipend, covers all tuition and fees (except the program fee) and health insurance. This funding package falls short of the financial requirements for a student visa, so proof of other financial resources will be required for international students.
Economics
Recent News
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Economics
Featured Faculty
Our distinguished faculty are recognized for their groundbreaking research and contributions to economics. As mentors, they are committed to your academic and professional success, providing a wealth of knowledge and expertise.
Donald Bruce
Director, Boyd Distinguished Professor
Celeste Carruthers
Associate Director, William F. Fox Distinguished Professor of Labor Economics
Scott Gilpatric
Department Head and Professor
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How To Apply
Ready to take the next step toward earning your degree? Applying is straightforward and designed to guide you every step of the way. Whether you’re starting fresh or advancing your career, our admissions team is here to help ensure your application process is seamless.