Master of Arts in

Applied
Economics
Online Information
Session
 Overview
• Why GW?
• What is Applied Economics?
• The Applied Economics Program
• Learning objectives
• Program basics and curriculum
• Admissions and Related Issues
• Our students
• Careers
• Student Life
• Q&A
Director of Graduate Studies
in Applied Economics
• Ph.D. in Economics from
Harvard University
• B.S. in Business
Administration from the
University of California at
Berkeley
• Associate Professor at GW
#OnlyAtGW
 Located in the heart of Washington,
D.C., at the center of economic
policy offering career opportunities
in government agencies, think
tanks, NGOs, and the private sector
 GW offers dozens of graduate
programs and certificates
 Internationally respected and
recognized faculty, academic
programs, and research initiatives
GW’s main campus is located in the FOGGY BOTTOM
neighborhood of DC, just steps away from the White House, the
IMF/World Bank, the Federal Reserve Board, and the State and
Treasury Departments. National Airport is just across the Potomac
river. Find out more by taking a virtual tour at virtualtour.gwu.edu
What is applied economics?
 Applied economics uses economic theories, models
and data to solve real-world issues
 It involves applying economic models to the data and
verifying how well the theory explains reality and
building forecasting models to predict how economic
events, such as inflation, asset price bubbles, and
regulation, affect economic welfare
 Ex: Why have automatic check-out stations replaced
workers in so many areas?
 Ex: How will inflation affect manufacturing output?
What do applied economists do?
 Applied economists
 research and analyze economic issues,
 conduct surveys and collect data,
 interpret and forecast market trends,
 use mathematical models and statistical techniques to
analyze data,
 work in the public and the private sector,
 develop public policies,
 advise policy makers, and more.
Ask yourself these questions:
 Do you strive to find solutions to problems that exist
in reality and not just in theory?
 Are you interested in how government regulations
and policies affect the way companies do business?
 Do you enjoy using quantitative tools and theoretical
analysis to shore up your research?
 Do you want to work on complex real-world
problems, such as development, financial crises,
health care, marketing, technological change, trade
policy, income inequality, and poverty?
Applied
Economics
Learning objectives
– Program basics -
Core courses –
Electives -
Course schedule
 Key Elements of the
Applied Economics MA
 Learning objectives

 Program basics

 Core curriculum

 Electives and
Specializations
Learning objectives
Students in the Applied Economics program will learn
how to:
 Measure the impacts and outcomes of government
programs
 Analyze and forecast trends in economic indicators
 Undertake independent economic research
 Present an economic analysis using quantitative
methods and theoretical models
 Use modern data visualization and communication
tools
Program basics
 The Applied Economics MA degree encompasses
6 core courses and 4 electives for 30 total credits
 Most classes meet once a week for 2 ½ hours
 The program takes 3 semesters plus one summer
course for full-time students to complete
 Core courses are generally offered in the evening,
while electives are offered in the day and the evening
 Students may study full-time or part-time
 Students who study full-time treat the program as
equivalent to a full-time job
Program basics, continued
 Students often work in groups to develop skills in
communication and leadership
 Time spent studying outside of class varies, but is
generally at least 10 hours per class per week
 The Director meets regularly with students, both
individually and in groups
 Some courses are online and others are taught abroad
 Course descriptions and syllabi are available on the
Applied Economics website
 Website:
https://economics.columbian.gwu.edu/ma-applied-econom
ics
Applied Economics website
The website has lots of information!
Tabs for useful information on
• Learning goals
• Curriculum
• Admissions
• Finances
• Careers
• News and events
 I update the site regularly so check back often
Six core economics courses
Number Course Name (all courses are 3 credits)
6300 Mathematical methods for economics
6301 Applied microeconomic theory
6305 Applied macroeconomic theory
6374 Probability and statistics for economics
6375 Applied econometrics
6376 Applied time series analysis
Electives and Specializations
• Students take 4 electives (12 credits total)
• Two electives are graduate-level courses in
economics and related subjects
• Two electives may be in other programs, including
• The Trachtenberg School of Public Policy and Public
Administration
• The Graduate School of Business
• The Milken Institute School of Public Health
• The School of Engineering and Applied Science
Full-Time Course Schedule
First semester
• Econ 6300 (Math for Economists)
• Econ 6305 (Applied Macroeconomics)
• Econ 6374 (Probability and Statistics)
Second semester
• Econ 6301 (Applied Microeconomics)
• Econ 6375 (Applied Econometrics)
• Elective
Third semester
• Econ 6376 (Time Series Analysis)
• 2 Electives
Applied economics electives
Number Course name

6310 Behavioral economics

6311 Applied Industrial Organization

6312 Applied Labor Economics and Public Policy

6313 Applied Macroeconomics and Money

6314 Applied Financial Derivatives

6315 Applied Game Theory

6316 Development Economics

6317 Sports Economics

The Curriculum Tab
Sample electives in economics
Number Course name

6222 Benefit-cost analysis

6237 Economics of the environment and natural resources

6255 Economics of technological change and innovation

6283 International trade theory and policy

6284 International macroeconomics and finance

6006 Policy Analysis

6075 Law and the public administrator

Sample electives in other fields
Number Course name

IAFF 6142 Technology Creation and Diffusion

MBAD 6211 Financial Accounting
PUBH 6325 Fed Policymaking & Policy Advocacy (2 credits)

EMSE 6245 Analytical Tools for Environmental Management

PPPA 6010 Politics & The Policy Process
IBUS 6402 Managing in Developing Countries
DATS 6101 Introduction to Data Science
ACCY 6602 Accounting
FINA 6223 Investment Analysis and Portfolio Analysis
Sample specializations
Specialization
International business finance and macroeconomics
Applied macroeconomics and economic forecasting
Budgetary and tax policy analysis
Regulatory and anti-trust economics
Urban and regional economics
Data science
Game theory and behavioral economics
Public management and economic policy
Development economics
Technological change and innovation
Writing in applied economics
 Writing is fundamental to applied economics
 Students learn how to explain complex economic
concepts in a clear and accurate manner and
develop the ability to communicate their ideas
through peer-organized sessions
 Students may present their research in an informal
seminar in the Economics Department
Math and applied economics
 Mathematics is a fundamental component of applied
economics and gives you the skills to answer
important empirical questions, such as:
 how will sustained increases in gas prices affect the
demand for gasoline?
 Will government regulation improve economic welfare?
 Who gains and loses from the policy?
 A strong background in math and statistics is
essential to become a good economist
Admissions and
related issues

Prerequisites,
international
students, Deadlines,
FAQs, and financial
assistance
Admissions
 Students should have earned
 a bachelor’s degree from an accredited four-year university with a
cumulative GPA of 3.0 or better (on a 4.0 scale);
 a B grade or better in introductory microeconomics;
 a B grade or better in introductory macroeconomics;
 a B- grade or better in college-level calculus.
 Applicants must submit
 two letters of recommendation;
 a 250- to 500-word personal statement and resume
 GRE scores are not required
 The Full Application is important
International applicants
 The Test of English as a Foreign Language (TOEFL), the
academic International English Language Testing System
(IELTS), or the PTE Academic is required, except from those
who hold a bachelor’s, master’s, or doctoral degree from a
college or university in the United States or from an institution
located in a country in which English is the official language,
provided English was the language of instruction. 
 Minimum scores to be considered for admission are:
 Academic IELTS: an overall band score of 6.0 with no
individual score below 5.0
 TOEFL: 550 on paper-based or 80 on Internet-based test
 PTE Academic 53
Application deadlines
• Application deadlines are:
• February 1 to be considered for financial awards for
Fall admission
• April 1 for Fall admission w/o financial awards
• October 1 for Spring admission
• The Fall Semester begins in late August
• The Spring Semester begins in mid-January
• For additional info, see the Graduate FAQs page:
• https://columbian.gwu.edu/graduate-faqs
GRADUATE FAQS
Fellowships and financial aid
• To be considered for a fellowship and/or
assistantship, you simply check "yes" on the
application. Merit-based awards are open to all
applicants.
• To apply for need-based financial aid, check "yes"
to question 18 on the application. GW's Office of
Student Financial Assistance to send you the
necessary forms.
• You must be a U.S. citizen, permanent resident or
refugee to apply for need-based financial aid.
Funding Opportunities
Graduate Admissions: Describes types of funding and
assistance, including department-based support.
Office of Student Financial Assistance: Offers loans for
admitted students.
Office of Graduate Student Assistantships
and Fellowships: Provides information on funding
opportunities at the graduate level.
GW Career Center: Provides information about Federal
Work-Study, part-time jobs, internships and cooperative
education.
International
Students
General information,
funding, and English
for Academic
Purposes
International students
 The International Services Office (ISO) can help
reduce the administrative challenges when studying
in the U.S.
 Information about acquiring a visa and what to do
when you arrive is available at the ISO website:
internationalservices.gwu.edu
 The International Services Office is located in the
Marvin Center, e-mail: iso@gwu.edu
 International Students are responsible for knowing
the academic requirements they must meet for visa
purposes.
Funding awards for international students
• To be eligible for funding you must have the following
minimum scores:
• TOEFL: 100 on the internet-based test (ibt), 600 on the
paper-based test (pbt)
• IELTS: Overall band score no less than 7.0, no
individual band score less than 6.0
• Students with F-1 or J-1 visa status may supplement
their classroom experiences through employment,
co-operative education or internships.
• You must obtain proper employment authorization
BEFORE beginning work.
English for Academic Purposes
 English for Academic Purposes (EAP) refers to
English language programs designed to help
international students acquire the advanced skills in
academic English that are necessary to complete the
graduate degree program
 EAP courses focus on academic research and
writing, composition, documentation and
communication skills
 This provision can not be waived and your
admissions letter will provide details
 For information, see eap.columbian.gwu.edu
Our Students
Demographics,
career plans,
undergraduate
majors
Our students

• Each class has about 20 to 25 students

• Students come from around the world
• Many international students have earned their
undergraduate degree in the United States
• The program has a mix of students who have
recently graduated from college and those who have
several years of work experience
Career plans
• Many students study for an applied economics
degree as a means to move up in their current job
• Other student are studying so they can change
careers
• Many students have internships while studying
• Most students work during the summer, either at a
paid position or as an intern
International students

• International students may work while studying

through the Curriculum Practical Training program
• They also may qualify for the Occupational
Professional Training after they graduate
GW’s graduate student site
Additional information
• In addition to the program’s online information
session, the University operates a “grad chat” online
session where students can speak online with
professors, administrators and current students
• The University has a new student welcome day,
generally in late March
• For more information, see
https://columbian.gwu.edu/information-sessions
Careers
Careers in Applied
Economics and
GW’s Career
Services Office
Careers as an economist
• According to the U.S. Bureau of Labor Statistics, economists
earned a median pay of almost $100,000 a year in 2015
• Good economists have strong analytical, communication,
critical-thinking, writing and math skills
• Economists can be econometricians, financial economists, labor
economists, monetary economists, public finance economists
and more
• Students with strong quantitative and analytical skills have the
best job prospects
• Many companies hire outside economists as consultants,
making consulting a fast growing field for economists
Where economists work

• Academic institutions
• Think tanks
• Government agencies – federal, state and local
• Non-governmental agencies
• Business
• Research
• Media and communications
What economists do
Behavioral economists study the effects of psychological and
social factors on an individual’s economic decision making.They
research how these factors lead to and affect the outcome of an
economic decision.
Econometricians develop models and use mathematical
analyses to test economic relationships. They use techniques such
as calculus, game theory, and regression analysis to explain
economic facts or trends in all areas of economics. 
Financial economists analyze savings, investments, and risk.
They also study financial markets and financial institutions. 
What economists do, cont’d
Industrial organization economists study how companies within
an industry are organized and how they compete. They also
examine how antitrust laws, which regulate attempts by companies
to restrict competition, affect markets.
International economists study international trade and the impact
of tariffs and trade restrictions. They also examine global financial
markets and exchange rates. 
Labor economists study the supply of workers and the demand
for labor by employers. They research employment levels and how
wages are set. They also analyze the effects of labor-related
policies, such as minimum wage laws, and institutions, such as
unions.
What economists do, cont’d
Macroeconomists and monetary economists examine the
economy as a whole. They may research trends related to
unemployment, inflation, and economic growth. They also study
fiscal and monetary policies, which examine the effects of money
supply and interest rates on the economy. 
Microeconomists analyze supply and demand decisions of
individuals and firms. For example, they may determine the
quantity of products consumers will demand at a particular price.
Public finance economists analyze the role of government in the
economy. Specifically, they may analyze the effects of tax cuts,
budget deficits, and government social policies.
Career Services
 GW has an active career services center where you
can develop strategies and build a foundation for a
successful transition from graduate school to career.
 The services provided include career coaching,
resume and cover letter writing, mock interviews, and
one-on-one consulting appointments.
 Students have access to a wealth of job-related
information via GWORK
Career services, cont’d
 GW hosts one large fair each semester and a variety
of industry focused events throughout the year.
 The Career Services office has regular newsletters
that provide information about upcoming job
interviews and other information
 See the Applied Economics careers tab:
https://economics.columbian.gwu.edu/careers-
economics
Employers and Skills

• In addition to GW’s career services, a good source to

identify employers is the National Association for
Business Economics (NABE).
• The careers tab on their website lists potential
employers and the skills they are seeking.
• NABE offers a Certificate in Business Economics
• See www.nabe.com
Student Life
Services, Metro,
Student
Organizations, and
Medical Services
Off-Campus services
• GW‘s Center for Student Engagement can answer questions
you may have about graduate student life at GW or Off Campus
housing needs
• Please visit the Off-Campus Student Affairs website at
• https://offcampus.students.gwu.edu/ or send an email to
ocsa@gwu.edu
• This website provides pretty accurate examples of prices of
things in DC: https://
www.expatistan.com/cost-of-living/washington-d-c
Metro and Bus Services
• The Metro is a system of several routes, which are
known by their colors
• The orange, silver, and blue lines serve the Foggy
Bottom area from Virginia. The red and green lines
serve the area from D.C. and the Maryland suburbs
• The DMV (District-Maryland-Virginia) area has a
substantial bus service
• And, of course, Uber and Lyft are all over town!
The Metro System
Food, sports and fun
• You can find out about GW's dining options at: 
https://www.gwu.edu/dining
• At GW, many of the sports events are free for our
students! You simply need to show your student ID.
• In terms of student life, there are hundreds of student
organizations that graduate students can join.
• The “DMV – DC, Maryland, Virginia” – has numerous
museums, sporting and concert venues, and outdoor
attractions.
Student organizations and
Medical services
• GW has more than 450 student organizations on
campus that anyone can join.
• You can log into OrgSync with your NetID (GW’s
organizations are on this site) at go.gwu.edu/orgsync
• Check out the Medical Services web page to answer
your question regarding insurance. https
://studenthealth.gwu.edu/student-health-insurance
What’s next?
 Go to the Applied Economics website:
https://economics.columbian.gwu.edu/ma-applied-economics
 Send an email to the director Dr. Joann Weiner at
jmweiner@gwu.edu if you have questions about the program
 Contact Columbian College Graduate Admissions at
askccas@gwu.edu for questions about the admissions process
and/or financial aid
THANK YOU!
Dr. Joann
Weiner
jmweiner@gwu.
edu