Applied Mathematics (BS) /Economics (MA) accelerated
About the Degree
After successful completion of this accelerated five-year BS Applied Mathematics/MA Economics program students will receive a bachelor's degree in applied mathematics and a master's degree in economics. Students of this program will be supervised by faculty advisers in applied mathematics and economics. Students are expected to finish the core course requirements and most of the electives for the bachelor's degree in the first three years of the program. Students must formally apply to the Graduate School during their third year of study. Upon acceptance students will be expected to complete the remaining electives of the bachelor's degree and the requirements of the master's degree in the last two years of study. Students register for at least nine graduate credits each semester of the last two years of the program.
The program does not offer concentrations/tracks but each cohort will typically take two related elective courses in such areas as international economics and regional/public sector economics. Specific elective offerings vary by cohort and depend on staffing availability.
Students enter this degree program with an undergraduate degree in applied mathematics which makes them very well-suited to the highly quantitative graduate degree in economics. The MA degree program provides students with a balance between a core of microeconomic, macroeconomic, and econometric theory and a wide variety of applied courses. Students get experiential learning in the form of internships and writing several research papers on current economic policy issues using empirical data. All courses are developed with the intention of increasing students’ critical thinking, hypothesizing and solving problems, and understanding and analyzing data in decision-making.
Salary and Career Outlook
The U.S. Bureau of Labor Statistics (BLS) in its job outlook concludes that employment of economists will increase by 14 percent between 2012 and 2022. The BLS states that “[j]ob prospects should be best for those with a master’s degree or Ph.D., strong analytical skills, and related work experience.” (http://www.bls.gov/ooh/life-physical-and-social-science/economists.htm) Finally, a recent Wall Street Journal article (March 17, 2014) observes a surge in demand for corporate economists as firms cope with “more data available than ever before and markets increasingly unpredictable”.
The National Association of Business Economists (NABE) conducts a biennial survey of its members about their base salary and their level of educational attainment. The results from their 2014 survey are summarized in the table below.
|Degree||Median base salary|
All students get hands-on experience working with data throughout the degree program which allows them to apply their classroom-taught economics theory to analyze real-world economic problems in various ways such as group projects, individual job market research papers and internship opportunities. Upon graduating students are either placed in degree-appropriate job positions in well-reputed firms and banks in the public and private sector. Additionally, students tracked in the past 5 years have been very successful in being promoted to higher levels of leadership and work-responsibilities within a few years of being hired at their initial entry-level position.
To the best of our knowledge, The University of Akron is the only university in Ohio that offers a program where students can earn an undergraduate degree in mathematics and a MA degree in economics in 5 years. Students can complete the MA degree in economics one semester earlier than they would if they completed both degrees separately.
The Mathematics department is regularly contacted by employers from the financial and insurance industries seeking students to fill full and part-time employment, as well as internship opportunities who have been trained in quantitative skills and economics. Students who are well-trained in mathematics at the undergraduate level are well suited to pursue a highly quantitative graduate degree in Economics and this program produces graduates who meet these needs. In addition, the strong mathematics background of students in this degree program will give these students interested in further graduate work an additional edge in getting placed in quality PhD programs in economics.
All students are provided with laptops which allow them to conduct intensive empirical research on various economic research topics in most classes in the program. Students get experiential learning in the form of graduate internships and writing a job market paper where they apply economic theory and econometric techniques to research a new economic problem. Students are also supported to attend professional economics conferences where they present their research findings. Several classes are held in the computer lab which further allows them to get hands-on training and experience in using empirical techniques. All students get individualized advising from the Graduate Director so that they complete the degree program in a timely fashion and achieve their career goals. This has resulted in the degree program having high placement rates with close to 100 percent of students finding jobs in degree-relevant positions in large-reputable organizations after graduation.
Graduate Coordinator: Dr. Sucharita Ghosh
College of Arts and Sciences, Room 446
Graduate School: Heather Blake
Polsky Building, Room 467