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MS in Economics

Course Description

The Department of Economics offers a broad and critical approach to the study of economics, covering a wide range of schools of thought, including Keynesian and post-Keynesian economics; the classical political economy of Smith, Ricardo, and Marx; structuralist and institutionalist approaches to economics; and neoclassical economics. The courses of study emphasize the historical roots of economic ideas, their application to contemporary economic policy debates, and conflicting explanations and interpretations of economic phenomena, within the context of a rigorous training in the conceptual, mathematical, and statistical modeling techniques that are the common methodological basis of contemporary economic research. The department's work centers on the changing shape of the world economy, its financial markets and institutions, problems of regulating and guiding economic development in the advanced industrial world and in emerging markets, complexity in economic systems, labor markets, and the economic aspects of class, gender, and ethnic divisions.

The aim of the Department of Economics is to put what Robert Heilbroner called "the worldly philosophy"—informed, critical, and passionate investigation of the economic foundations of contemporary society—at the heart of the educational and research enterprise. This engagement with the central unresolved dilemmas of modern society motivates the detailed analysis of concrete problems of economic policy and the explanations of economic phenomena that are the substance of the department's degree programs.

MS in Economics
The MS in economics is a terminal degree designed for students who wish to study economics in more depth than the MA allows, particularly to develop their research skills in economic modeling and econometrics, without being committed to completing a PhD degree. The 45-credit program provides a solid grounding in the history and contemporary development of political economic tools and, through education in the contemporary quantitative tools of analysis, extends this training to include a significant part of the PhD analytical core curriculum. The master of science degree is awarded for successful completion of 45 credits and passing of the MS examination.

Course Requirements
The master of science program consist of six core courses and eight elective courses.

Four core courses required of all master's degree candidates
- GECO 6190 Graduate Microeconomics
- GECO 6191 Graduate Macroeconomics
- GECO 5104 Historical Foundations of Political Economy I
- GECO 6181* Introduction to Econometrics
*GECO 6189, Mathematics for Economics, or the approval of the
instructor is a prerequisite to GECO 6181.

Two additional core courses selected from the following list*
- GECO 6281 Advanced Econometrics I
- GECO 6200 Advanced Microeconomics I
- GECO 6202 Advanced Macroeconomics I
- GECO 6204 Advanced Political Economy I
- GECO 6206 Post-Keynesian Economics
*With the agreement of the faculty advisor, students who entered the program with a strong background in economics may substitute other appropriate upper-level (6200-level) courses for one of both of these.

Nine elective courses
Of the nine electives, three must be selected from courses offered or cross-listed by the Department of Economics; the other five may be courses offered by other departments of The New School for Social Research or by the Milano School of International Affairs, Management, and Urban Policy. The student's faculty advisor must approve the elective program.

The Master of Science Examination
The MS in economics requires that a student pass the MS examination offered twice a year. (With approval of the Department of Economics, a qualifying paper may be accepted in place of the MS examination.)

Entry Requirements

A bachelor’s degree from an accredited American college or university, or the equivalent degree from a foreign college or university.

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