Economists save the world by understanding it at levels that other vital professionals cannot. As such, they are critical parts of various organizations and industries for their ability to determine why people make decisions. Their insights are then delivered to decision makers who want to better design their policies and marketing for these behaviors. Simply put, they create efficiency with every study they conduct.
Today, new waves of COVID-19 — and future diseases like it — are causing persistent labor market challenges and prolonged supply chain pressures. According to the United Nations World Economic Situation and Prospects (WESP) 2022, after expanding by 5.5% in 2021, global output is projected to grow by only 4.0% in 2022 and 3.5% in 2023.
With all business owners hoping for a breakthrough, it's no wonder why employment of economists is projected to grow 13% from 2020 to 2030, faster than the average for all occupations. The Northeastern University College of Social Sciences and Humanities in Seattle it provides the opportunity to produce even more. The top 50 university just introduced a brand new Master of Science (MS) in Economics — and it's dynamic. Here are not one, but five reasons why:
It focuses on the future
The program focuses on experiential learning in Seattle it really sets it apart. With a strong emphasis on economic theory, quantitative methods and policy, the program incorporates collaboration and project-based learning – preparing students with leading faculty as well as partners in industry and government. Today's professionals champion the importance of experience, preparing students to analyze financial and business issues. Additionally, the program's STEM designation means students can pursue work experience in the United States for additional time.
“Tomorrow's economists must continue to learn and innovate quantitative methods to be able to select appropriate econometric and statistical techniques in the context of big data and to generate reliable economic forecasts and establish robust causality with non-experimental data,” says Professor and program manager. Jun Ma.
CSSH students work to shape solutions to the world's most pressing problems. Source: Northeastern University
You can make your own schedule
Current student Junjie Mu from Chengdu, China, chose the MS in Economics for the Data Science concentration. His grandfather was an inventor and businessman who influenced his decision to explore global economic issues. “He taught me that studying economics could help me see the world clearly,” says Mu.
The Optional Data Science Concentration — delivered in collaboration with Khoury College of Computer Sciences — designed to help students gain a foundation in economics while improving their computational modeling and programming skills. “Of all the concentrations and specializations we offer, I would say this is the most optimal for providing practical programming experiences for financial and business data analysis,” says Professor Ma.
The MS in Economics also offers tracks in policy, quantitative analysis and academics. The Data Science concentration offers three tracks and several areas of specialization, in collaboration with other Northeastern colleges.
Special educators
The College of Social Sciences and Humanities is home to countless world-class faculty members who are constantly eager to cultivate a new generation of world-changing economists. For example, Professor Lisa Zhao has taught Mu applied econometrics with tools such as the R language for data analysis. Dr. Andrew Ewing was always patient with his questions and generous with his time in his microeconomic theory class. Simon Wang continuously shares industry knowledge in the classroom about data management and database design.
“I learned a lot from all these classes and I get along really well with every professor,” shares Mu. “They are always willing to help me and solve any problem I have both academically and personally.”
Seattle consistently ranks among the top 10 places to live in the US. Source: Photo by Adam Glanzman for Northeastern University
Become a household name while a student
Few universities can equip students with industry knowledge the way Northeastern University can. Students in the College of Social Sciences and Humanities have spent their fellowships at companies such as Amazon and Fidelity, studied abroad at the London School of Economics, and conducted research at the university's Dukakis Center for Urban and Regional Policy.
Mu's recent semester was about economic recovery during the pandemic. “We got economic labor data for the entire US from 2019 to 2021 from a consulting firm in Seattle,” he explains. “We then added government data on the implementation of mask orders, city closures, and vaccination policies to see how these policies affected labor and economic data. It was interesting and definitely very rewarding.”
A city full of opportunities
Mu is looking forward to graduating and putting his newfound knowledge into practice as a professional. He chose Seattle for his studies because of its reputation as a livable city — where he hopes to build a life. Chances are, he will, because of the opportunities springing up every day for people with qualifications similar to those he will soon gain. The city has established itself as a force among established tech hubs in search of cutting-edge tech talent.
“As everyone knows, Seattle is home to many world-class technology companies and great people,” says Mu. “This will give me many options for finding work in the future.”
In addition, international students interested in the MS in Economics will be happy to know that their STEM designation qualifies for the Optional Internship Extension, which translates to three years of work — which, like Mu, they will surely find thanks to in the knowledge and skills they gained from their strong qualifications.
“Students in this program are well equipped with critical skills that will make them successful in any position that requires analytical thinking and data science skills,” says Professor Ma. “These include, but are not limited to, analyst positions in the financial industry and data science positions in the technology industry.”
Follow the College of Social Sciences and Humanities at Facebook, Twitter and LinkedIn
