The M.A. Economics (MAE) program is designed to give students a quantitative approach to economics with the flexibility to tailor the degree to fit their future goals. It offers comprehensive instruction in a wide range of areas within the discipline, including computational economics, economic analysis, and financial economics. Graduates of the program are adept in applied research and financial analysis, highly competitive on the finance sector job market, and ready for top Ph.D. programs.

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duke economics courses

The master’s program is designed to combine theoretical rigor in core areas of economics with exceptional flexibility in course requirements to encourage students to explore their academic interests. In addition to master’s-level courses, students frequently enroll in many doctoral level courses in economics, and in courses from other departments, including Political Science, Public Policy, Finance, Statistics, and Mathematics. The curriculum is intended to be completed in four semesters.

Requirements Overview

• 30 credits in economics and related fields, to include a minimum of 15 credits (five courses) in economics
  • THREE courses (9 credits) in microeconomics and/or macroeconomics, selected from the following:
    • ECON 601 Microeconomics
    • ECON 602 Macroeconomic Theory
    • ECON 605 Advanced Microeconomic Analysis
    • ECON 606 Advanced Macroeconomics II
    • ECON 613 Applied Econometrics in Microeconomics (Counts towards the micro/macro requirement or the metrics requirement, but not both.)
    • ECON 620 Game Theory with Applications of Economics and Other Social Sciences
    • ECON 621 Non-Market Valuation
    • ECON 624 International Trade
    • ECON 652 Economic Growth
    • ECON 656 International Monetary Economics
    • ECON 664 Industrial Organization
    • ECON 690 Special Topics in Economics: General Equilibrium Theory and Financial Markets
    • ECON 690 Special Topics in Economics: Continuous Time Methods (Counts towards the micro/macro requirement or the metrics/compmethods/compsci/math/stats requirement, but not both.)
    • ECON 701 Microeconomic Analysis I
    • ECON 702 Macroeconomic Analysis I
    • ECON 705 Microeconomic Analysis II
    • ECON 706 Macroeconomic Analysis II
    • ECON 881 Special Topics in Applied Microeconomics, with approval
    • ECON 882 Special Topics in Macro International Finance, with approval
    • ECON 885 Special Topics in Economic Theory, with approval
  • THREE courses (9 credits) in econometrics, computational methods, computer science, mathematics and/or statistics, selected from the following:
    • ONE econometrics course selected from the following:
      • ECON 608 Introduction to Econometrics
      • ECON 612 Time Series Econometrics
      • ECON 613 Applied Econometrics in Microeconomics (Counts towards the micro/macro requirement or the metrics requirement, but not both.)
      • ECON 623 Forecasting Financial Markets
      • ECON 672 Empirical Methods in Financial Econometrics (Note: This course was formerly ECON 690 Special Topics in Economics: Financial Econometrics.)
      • ECON 690 Special Topics in Economics: Microeconometrics Tools
      • ECON 690 Special Topics in Economics: Continuous Time Methods (Counts towards the micro/macro requirement or the metrics/compmethods/compsci/math/stats requirement, but not both.)
      • ECON 703 Econometrics I
      • ECON 707 Econometrics II
      • ECON 883 Special Topics in Econometrics, with approval
    • TWO courses in econometrics, computational methods, computer science, mathematics and/or statistics, fulfilled as follows:
      • Any of the econometrics courses listed above
      • Any computational methods or cross-listed math course at the 600-level of above offered by the Department of Economics
      • Courses in computer science, mathematics and statistics at the 500-level or above.  NOTE:  Starting in Fall 2020, students may take either ECON 673/MATH 581 or ECON 671, but not both, for credit towards the degree. Also starting in Fall 2020, students may take either ECON 674/MATH 582 or ECON 678, but not both, for credit towards the degree. 
  • ONE Capstone Course (3 credits), with a grade of B or better
• Internship (optional)
• Completion exercise
  • Portfolio
• Responsible Code of Research (RCR) training during orientation and 1 RCR forum 2-hour course (either GS 711 or GS712)
• (For international students) English language proficiency

Undergraduate Courses

Effective Fall 2018, it is the policy of The Graduate School that undergraduate courses (499 or lower) do not count towards the M.A. degree or a student’s GPA. Undergraduate courses taken before Fall 2018 do count towards the M.A. degree (given a grade of B- or better) and GPA. Courses that are cross-listed as both undergraduate- and graduate-level courses count towards the M.A. degree and a student’s GPA only if they have a separate, more rigorous syllabus for graduate students. It is the student’s responsibility to verify that this is the case before enrolling in any cross-listed courses.

Duke Economics Undergraduate Programs

An undergraduate degree from Duke University is a door-opener in and of itself, but it is widely acknowledged that an economics degree can be even more marketable — and profitable. Graduating with a degree in economics can serve as a strong signal to potential employers that you have analytical and reasoning skills — applicable to both qualitative and quantitative data, and the ability to think critically and draw inferences. The most popular destination for economics majors are careers in business and finance; however, recent graduates also have entered a broad range of careers, including medicine, law, teaching, government, and policy.

Academia & Graduate Studies

Approximately 10 percent of economics undergraduates plan to eventually attend graduate or professional school. On average, 40.6 percent economics  students surveyed at graduation reported that they have plans to pursue a master’s in business administration. Students who are interested in pursuing graduate studies in economics should plan to take courses at the Departments of Mathematics and Statistical Science, as most competitive programs are quantitatively rigorous. Useful courses include multi-variable calculus, linear algebra, differential equations, real analysis, and introductory statistics and probability. Students contemplating a career in academia or economic research are strongly encouraged to consider participating in the Duke Economics Honors Program, through which they have the opportunity to engage in a meaningful, sustained research project — and graduate with honors. 

Industry

For the last five years, an average of 80.8 percent of students have accepted full-time jobs by graduation, with 64.3 percent going into finance, 16.1 percent into business and management consulting, and 6.9 percent into business services such as accounting and marketing. 

Majors & Minors

Credential	Requirements
B.S. Major in Economics	3-4 math courses1 statistics course5 core courses in economics5 economics electives
B.S. Major in Economics, Finance Concentration	3-4 math courses1 statistics course6 core courses in economics3 finance electives2 economics electives
B.A. Major in Economics	3-4 math courses1 statistics course5 core courses in economics1 course in economics history4 economics electives
Minor in Economics	4-5 economics courses depending on AP credit
Minor in Finance (Not available to Economics first or second majors.)	1 statistics prerequisite course1 or 2 math prerequisite courses2 core economics courses3 finance electives

STEM Designation

The B.S. in Economics and B.S. in Economics, Finance Concentration classify as STEM (CIP Code 45.0603: Econometrics and Quantitative Economics). Students with these majors can apply for a 24-month STEM extension of F-1 Optional Practical Training (OPT). 

Placement & Enrollment

There are two courses that incoming freshmen may be eligible to take at Duke. Which course you take depends on whether you have earned AP credit or transfer credit through standardized test such as International Placement Credit (IPC) or Pre-Matriculation Credit (PMC). 

ECON 101: Economic Principles

This is an introductory economics course that covers basic concepts in both microeconomics and macroeconomics. ECON 101 is taught at a level that assumes no prior coursework in economics. All Duke students are eligible to take this course.

Prerequisites: None.

Alternate ways to receive credit for this course:

• AP: Students who have credit for both ECON 21 and ECON 22 may use that credit to fulfill ECON 101, Principles of Economics.
  • Credit for ECON 21 is given to students who have scored 4 or 5 in AP Macro.
  • Credit for ECON 22 is given to students who have scored 4 or 5 in AP Micro.
• IPC/PMC: Students who successfully complete A-levels in economics may also receive credit for ECON 101.

ECON 201D: Intermediate Microeconomics I

This is an intermediate-level microeconomics course that assumes some background in economics and calculus. If you do not fulfill all of the prerequisites required for ECON 201D, you should enroll in ECON 101: Economic Principles. The Economics department will always permit all students who wish to enroll in ECON 201D (and who have the requisite prerequisites) to do so up until the end of the first week of the semester, even if this means expanding the class size to meet demand. So there is no reason to be concerned that the course will fill up while you wait for your AP scores to be recognized by Duke.

Prerequisites:

• ECON 101 or ECON 21 AND ECON 22
  • Credit for ECON 21 is given to students who have scored 4 or 5 in AP Macro.
  • Credit for ECON 22 is given to students who have scored 4 or 5 in AP Micro.
• MATH 21 (AP Math).
  • Credit for MATH 21 is determined by the Department of Mathematics’ AP guidelines.

Special Restrictions:

1. We cannot permit students who have taken AP-“style” economics courses, but have not taken and passed the official AP exams, to take ECON 201D, regardless of the grade that they may have earned in those courses. If you have not taken and passed both of the official AP Micro and AP Macro exams to the required standard, you must first enroll in ECON 101 before taking ECON 201D. There are no exceptions.
2. The same applies to AP-“style” math courses. The only exception in the case of mathematics is if the DUS in mathematics verifies that you have been placed in MATH 21 or higher. This verification must be submitted by email to the DUS in economics (DUS@econ.duke.edu).

Timing for enrollment:

1. Students whose AP scores are of a satisfactory level, and already have credit for ECON 21 and ECON 22 on their Duke academic history in DukeHub, should be able to enroll directly in ECON 201D.
2. Students who have taken all of the requisite AP exams, but do not yet have credit for ECON 21 and ECON 22 on their Duke academic history in DukeHub, are requested to wait until those scores are available and have been incorporated into their Duke record before attempting to enroll in ECON 201D.