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FAQ
What are the greatest strengths of the
M.A. program in Economics?
A specially tailored, stand-alone degree
We offer a specially tailored, stand-alone master’s program
in a top-ten Economics Department. It is “stand-alone”
in that it is separate from the PhD program. Indeed, there
are not that many specially tailored (i.e. terminal) master’s
programs in economics offered in the USA. This type of degree
serves the needs for an advanced degree of professional
economists, government officials and economic consultants.
It can also be used to lay the groundwork for students who
wish to pursue a PhD program elsewhere in the US. Many universities
offer MA degrees in economics but they are not terminal
degrees but rather degrees earned en route to a PhD.
A marketable degree valued by employers
See
below on career opportunities for our graduates.
A rigorous preparatory degree for graduate programs
elsewhere in the US
Our MA graduates have been admitted into PhD programs at
Boston University, the University of Michigan, UC Davis
and New School University.
Our students have also been admitted to law schools at
Columbia University, Fordham University and the University
of Illinois and public policy schools, such as the Maxwell
School at Syracuse University.
Outstanding reputation of faculty, prestigious department
and high quality of curriculum
The Economics Department at NYU has an impressive reputation.
It has a world-renowned faculty and a high quality curriculum.
A recent study published in the Journal of Economic Perspectives
ranked the Economics Department at NYU as 6th in the nation.
Superb research resources
NYU has one of the largest open-stack research libraries
in the nation with a collection of over 4.2 million volumes.
Geographic location
We are located in New York, one of the world’s most dynamic
cities. NYU is located in the heart of Greenwich Village,
a unique cultural and historic resource. New York City is
an international hub for global business, finance, communications,
art, science and research. We offer proximity to future
career opportunities. New York City is establishing itself
as an intellectual center where the action is.
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What are the career opportunities for graduates
of the MA program?
Graduates from the MA program currently hold jobs in a
variety of fields in the New York area, including investment
banking, brokerage, management consulting and the non-profit
sector. Our graduates are employed in an impressive array
of businesses: AIG, Goldman, Sachs & Company, Bear Stearns,
Bloomberg, Federal Reserve Bank of New
York, Smart Money Magazine, Time
Magazine, Citicorp, the Royal Bank of Canada,
Credit Suisse, Economy.Com and the IMF.
International students who graduate from the program often
return to their home countries to take up important policy
advisory positions.
What are
the criteria for admission?
Admission to the MA program in economics
is limited to students of outstanding promise. In general,
we aim to admit the B+ student and above. More specifically,
the type of student we are seeking to attract will meet
the following minimum requirements:
- GRE Quantitative and Analytical scores
> 75th percentile (@720 for quantitative and 5.0 for analytical)
- GRE Verbal > 50th percentile (@500)
- TOEFL > 260 (computer-based version)
or TOEFL > 620 (paper-based version) or 105 (internet-based version)
- Undergraduate calculus and statistics
-- B+ or more – and preferably more advanced mathematics
- Intermediate microeconomics and macroeconomics
-- B+ or more
- GPA of 3.25 or better at the undergraduate
level.
What is important is the total picture of an applicant’s
competence, not performance on individual criteria. For
example, we want to attract students with good grades at
a good university even if they had less than fantastic GRE
scores. Furthermore, we also want to attract applicants
who have completed a degree in mathematics, engineering
or physics but have done introductory but not necessarily
intermediate economics courses.
How do I
apply for admission?
We direct you to go to the World Wide Web
and either request an application personally or download
one from the GSAS web site. You should go to:
http://www.nyu.edu/gsas/Admissions
What is the
deadline for admission?
The deadline for Fall 2008 is March
1, 2008. There are no longer admissions in spring.
Must applicants
take the Graduate Record Examination (GRE)?
All applicants must take the general test of the GRE administered
by the Educational Testing Service, Princeton, NJ 08540.
(http://www.ets.org/)
See too http://www.gre.org/splash.html.
All applicants should be sure that official test scores
are sent directly to GSAS from ETS. You should send them
to the Graduate School of Arts and Science code 2596.
PLEASE NOTE: WE NO LONGER ACCEPT GMAT. The Graduate School of Arts and Sciences (GSAS) has not yet updated their website to reflect our new GRE requirements. Please disregard any information that states otherwise.
Must foreign
students take TOEFL?
All international students must take the
Test of English as a Foreign Language (TOEFL). (See
http://www.toefl.org/.)
Exceptions to this rule include students who attended English-speaking
college-level institutions and students from English-speaking
countries, such as the United Kingdom and Australia. International
students should aim for TOEFL scores above 270. Successful
applicants may also be required to take a diagnostic language
evaluation test at the American Language Institute at NYU
and to take additional English language courses tailored
to the needs of graduate students.
How long
will it take to earn the M.A. degree?
The MA degree in economics takes a minimum of three semesters
full-time (usually Fall, Spring and Fall the following year).
The elapsed time for completion is thus more than one year.
At this stage, no master's courses in the Department of
Economics are offered over the summer. However, some students
choose to take courses in the Stern School of Business over
the summer (a maximum of 8 credits can be taken outside
the Department of Economics as credit towards the MA).
The time limit for completion of the degree is five years
for both full- and part-time students.
How much
does the degree cost?
Applicants should refer to www.nyu.edu/bursar in order to see the latest
tuition and fee schedule for the Graduate School
of Arts and Science.
Our MA program requires 32 points/credits. You would then
have the cost of the mandatory health insurance, plus the cost of books
and your living expenses.
You may find information at www.gsas.nyu.edu, "Admissions," "Application
Resource Center," "Frequently Asked Questions," "International Students
FAQ" useful as well.
What financial
aid is available?
While loans may be available, fellowships and assistantships
are not available for students in the M.A. program.
However, the Tuition Incentive Program (TIP) at
NYU is an important source of financial aid for master's
students. TIP provides tuition support to recipients of
external awards. Students receiving external awards of
$13,000 or more from recognized, academic sources of
funding outside of the University can apply for matching
tuition points up to the amount of their outside award.
Students receiving external awards of less than $13,000
may apply for matching tuition points up to 50% of the amount
of the external award. The Graduate School typically awards
funds to between 20 and 30 students a year. We encourage
students to apply.
How many
students are admitted to the program?
We do not have a fixed target size for
an incoming class. In Fall 2003, we received well over 250
applications and admitted over 60 students. In other years,
we have had between 40 to 50 incoming students.
Who are
our students?
Over the last five years, about half of
the incoming students are international students (i.e. non-US
citizens). We have a very diverse student body. About 80
percent of incoming students are full-time students. The
average age of incoming students is 25 years.
Can students
work full-time and pursue this degree?
Yes. Unlike other schools, many of our
MA courses begin at 6.20pm and a few begin at 4.20pm. All
of the core MA courses are offered in the evening (many
are also offered during the day as well). Courses generally
meet once a week.
Do we accept
transfer students?
We will accept students from other graduate
schools. They must apply as a new student and admitted students
may seek permission to transfer up to 8 credits for courses
with grades of B or better.
Can students
enter the program in the spring semester?
No, there are no longer admissions in spring.
There are only admissions in the fall semester of each year.
Are internships
available in the program and can internships count toward
the degree?
On their own initiative, a small number
of our students obtain internships in business and public
policy settings. However, internships cannot count towards
the MA degree in economics.
Can I take
courses in the business school and elsewhere in the University?
Students are allowed to take relevant courses
at the NYU business school, which is consistently ranked
among the world’s best business schools (see http://stern.nyu.edu).
In addition to regular courses in economics, students take
courses in finance, accounting, international business and
operations research at the Stern School of Business. Highly
qualified MA students preparing for a PhD program may also
take courses in the Graduate Department of Mathematics at
the Courant Institute of Mathematical Sciences which offers
balanced training in mathematics and its applications in
the broadest sense.
Who teaches
the courses?
Courses are taught by both full-time faculty
and adjunct professors who combine formal training in economics
(PhD) with applied economics experience.
Does the
master's program lead to the PhD program in economics at
NYU?
The master's program does not lead to the PhD program.
The two programs are quite separate and students cannot
transfer from the master's program to the PhD program at
NYU. However, our master's program can be used to lay the
groundwork for students who wish to pursue a PhD program
elsewhere, and an increasing number of our students have
gone on to do a PhD in economics at other universities in
the United States (e.g. Boston University). Indeed, the
best qualified master's students sometimes take one or more
PhD-level courses within the Department of Economics as
credit towards their M.A. degree. In order to improve their
math background, some students seeking to pursue a PhD also
take graduate math courses. Students can also choose to
apply for our Ph.D. program after completing the master's,
although admission is very competitive and none of the master's
work would transfer toward the PhD.
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