Master’s in Applied Economics and Management

Degree Requirements for STEM-designated Master’s in Applied Economics and Management

If you are completing a Master’s degree in applied economics at Cornell, you must meet the following requirements upon graduation:

• 4 full-time semesters of course study, a minimum of 12 credit hours each semester
• All Masters of Science (MS) students must register for AEM 7030 and are required to attend the Applied Economics & Policy Seminars that are held once a month and attendance is taken at each seminar. The schedule for these seminars can be found here. On occasion, if a student misses one of the required seminars, they must make this up by meeting with the guest speaker or attending another widely advertised seminar at Cornell. Students must indicate to the DGS and GFA how you plan to make up the missed seminar.
• Master’s thesis
• Final oral examination

Each Master’s of Science student must declare one major concentration from the graduate field of Applied Economics and Management (AEM) and one minor subject/concentration. The minor subject/concentration may be from a graduate field of study outside AEM.

Please note: The requirements listed above are general requirements of the graduate field of Applied Economics and Management. This is not a comprehensive list of the requirements for this graduate field. Students should check with their Special Committee chair for additional course requirements, and students should also check with the Director of Graduate Studies and the Graduate Field Assistant for additional requirements of the Graduate School. The complete list of Graduate School requirements is available in the Graduate Code of Legislation that can be found on the Graduate School website.

Required Courses for 1st Semester Master of Science (MS) Students

AEM 6080: Production Economics
AEM 6120: Applied Econometrics
AEM 6700: Economics of Consumer Demand
AEM 7030: Required seminar

Recommended Classes for 2nd Semester Master of Science (MS) Students

AEM 7100: Econometrics I – Depending on performance in AEM 6120 and subject to the Instructor’s permission.

In addition, 1st and 2nd year MS students should take a minimum of 6 credits from their area of specialization. During the 2nd and later semesters MS students should consult with their thesis advisor or the MS Director of Graduate Studies to identify courses that are aligned with their planned area of thesis research.  Courses can be drawn from AEM, Economics, PAM, Johnson School or any other field of study as appropriate.  The following area specific courses are examples of courses in each concentration of study.

Food & Agricultural Economics (FAE):

AEM 6050: Agricultural Finance and Development
AEM 6300: Policy Analysis: Welfare Theory, Agriculture, and Trade
AEM 6400: Analysis of Agriculture Markets
AEM 6410: Commodity Futures and Options

Environmental Energy & Resource Economics (EERE)

AEM 6510: Environmental and Resource Economics (if your concentration is EERE it is recommended you take this course your first semester)
AEM 6600: Natural Resources and Economic Development

International & Development Economics (IDE)

AEM 6010: Writing Competitive Research Proposals
AEM 6125:  Impact Evaluation in Developing Countries
AEM 6320: Open Economy Analysis
AEM 6390: Research Methods in International Development
AEM 6670: Topics in Economic Development

Management (MGMT)

AEM 6061: Risk Simulation and Monte Carlo Methods
AEM 6140: Behavioral Economics and Managerial Decisions
AEM 6245: Organizational Behavior
AEM 6325: Leadership and Management in Sports
AEM 6440: Consumer Behavior
AEM 6533: Federal Income Taxation of Low Income Taxpayers
AEM 6580: The Economics and Psychology of Sustainable Business
Students can also select appropriate courses from Johnson School of Business, The Hotel School, or AEM undergraduate courses.

Suggested Courses for the Master in Applied Economics Program

Quantitative Methods

Students with no previous statistics should take BTRY 6010: Statistical Methods I.  Linear programming and other advanced topics in mathematical programming are covered in AEM 4120: Computational Methods for Management and Economics.

Master of Science (MS) Students on a PhD Track

If students are on a PhD track, suggested courses are:
MATH 2210: Linear Algebra
MATH 2220: Multivariable Calculus
MATH 3110: Introduction to Analysis
MATH 3230: Introduction to Differential Equations
BTRY 6010: Statistical Methods I

To be considered for PhD admission, students should have two 3000 or 4000 level math classes, one of which is required to be in real analysis, and they should have a grade of B or better in all of these classes.

Example Curriculum of a Master’s Program of Study in Applied Economics

Year 1

Master of Science (MS) Program Fall Semester

AEM 6080: Production Economics
AEM 6120: Applied Econometrics
AEM 6700: Economics of Consumer Demand
AEM 7030: Required seminar
Math class (see above)
Electives
Select Chair of Special Committee

Master of Science (MS) Program Spring Semester

AEM 6050: Agricultural and Development Finance
AEM 6300: Policy Analysis:  Welfare Theory, Agriculture, and Trade
AEM 7100: Econometrics I
Math class (see above)
Electives

Master of Science (MS) Program Summer Semester

Begin thesis research

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Year 2

Master of Science (MS) Program Fall Semester

AEM 8900: Master’s-Level Thesis Research
Electives

Master of Science (MS) Program Spring Semester

AEM 8900: Master’s-Level Thesis Research
Final thesis examination