I am a junior in college, thinking about grad school for Economics recently. Those who have recently graduated, how was your masters program and the day to day life as a student? What did you like and dislike?
Any advice for undergrad students looking to getting in to a masters program?
And did it improve your job prospects having gotten the degree? What sort of jobs became more available with the degree?
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Since no one else has responded, I’ll respond although I am the parent of 2019 graduate with a BA in Economics. So I’m sure there are more knowledgeable posters who can weigh in. But generally my understanding is that there are two kinds of masters degrees that econ majors might pursue. One is the typical terminal masters like an MBA and the other is a MA after completing your BA degree that is additional study toward an eventual PhD. But from what I can tell, the sort of intermediate masters is a step often taken when someone’s undergrad work (especially in math) is not sufficient to get into the desired Economics PhD program. If you’re sufficiently prepared when you get your BA, you can apply directly to PhD programs. I’m not sure how helpful it is to get an MA in Econ and stop there in terms of career prospects, especially since such programs are typically expensive whereas PhD programs are hopefully funded. I would assume that an MBA by contrast can be a useful credential on a career track.
Here are some links with good resources:
https://www.aeaweb.org/resources/students/grad-prep/overview
http://gregmankiw.blogspot.com/2006/05/advice-for-aspiring-economists.html
Sometimes you can get some funding for a masters in econ at a school where there is no PhD program. The students who get jobs often have focused on acquiring applied statistics, econometrics, and data visualization skills. You can ask for information on employment, but some programs are popular with mostly international students who are trying to get into PhD programs.
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