Department of Economics at the University of Illinois at Urbana-Champaign presents the Master of Science in Policy Economics Program
The Master’s Program is called the M.S. in Policy Economics (MSPE). The program was started in 1984 and now has over 1600 alumni from over 100 countries. The program is ranked in the top 10 of professional Master’s programs at U.S. economics departments (College Choice). The MSPE website is: http://www.mspe.illinois.edu/. This program might be interesting for one or more of your best undergraduate majors who are graduating in 2019.
The MSPE Program has four required courses in the core fields of microeconomics, macroeconomics, and econometrics. Students who are particularly well-prepared in mathematics and statistics can receive approval to take the corresponding Ph.D. courses in these three core fields (called the Ph.D. Track). The program then requires six elective courses that can be chosen from fields such as applied econometrics, macroeconomics and monetary economics, international economics, development and economic growth, game theory and industrial organization, and public policy. Students can also choose elective courses in finance, mathematics, and statistics.
Nearly all of the courses are taught by the regular tenure-track faculty members. MSPE students who are interested in Ph.D. programs can focus their elective coursework on advanced courses in the three core fields, particularly econometrics. MSPE students have been accepted in Ph.D. programs at over 40 different economics departments in the United States. Alternatively, MSPE students can take elective field courses which are ideal preparation for positions in government agencies, non-profit organizations, international organizations, consulting firms, or businesses. As such, the MSPE program can be a great transition for students who are not sure what to do next at this point in their careers.
The MSPE program is a STEM program, and this allows international students to obtain three years of Optional Practical Training (OPT) after they complete the MSPE degree in order to work for a private sector employer in the United States. The employer may then sponsor the student for an H-1B visa. The STEM designation also expands the opportunities for domestic women students to obtain scholarships and grants from government programs and foundations.
The entering class of the MSPE program has been 70-80 students in recent years. With our new faculty members, we are now able to increase the number to about 90 students. Most of the students are international students, about half from China. The University of Illinois has an historic connection to China dating back to 1906. The other students are from other countries in Asia, South America, and the Middle East. There are usually 5-8 domestic students. We believe that there are many good domestic students who could benefit from the MSPE program.
The application deadline is April 1, 2019, but we can accept late applications. The tuition for this academic year is approximately $28,000, and there is an activities fee of less than $3000 per year that covers the expenses of field trips and social events. During spring break each year, there is a one-week field trip alternating between Washington D.C. and New York City. The program can be completed in one year by taking four courses in each of the fall and spring semesters and then two courses in the summer session. This one-year option is very manageable for domestic students. Most of the international students work or travel in the summer and complete the program in the fall semester of their second year. They then spend the spring semester applying for business positions under OPT or preparing for Ph.D. programs.
If you have a student who might be interested in either the MSPE or Ph.D. program, they can send an email to Ali Toossi who is the Associate Director (Toossi@illinois.edu).
The full brochure can be found by clicking here for page 1: https://unl.box.com/s/m3fgjwwoia0kp0thd783ujq599eqg3r9 and here for page 2: https://unl.box.com/s/a7y67ng13q0akaepgc8r4yp3rivqn5dw