University of Arkansas

Walton College

The Sam M. Walton College of Business

Master of Science in Economic Analytics

The digital revolution ignited an explosion of data. The availability of data is no longer a constraint to answering important questions.

The critical constraint is now the ability to analyze, digest, visualize, and ultimately harness the data to drive decision making in business, science, and society.

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The Master of Science in Economic Analytics is an intensive 10-month program that will guide students through economic modeling and theory to computational practice and cutting-edge tools, providing a thorough training in descriptive, predictive and prescriptive analytics.

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Career Outlook

Job prospects for graduates?
What can I expect?

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Courses and Schedule

What coursework is required for this degree?

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Just the Facts

How Much? How Long?
Who can enroll?

How Do I Enroll?

Admission to Walton College masters programs is selective. Enrollment in each program is limited. 

Current Student Listing

Wondering who you’ll meet in class? Get to know our current students.

Just the Facts: Master of Science in Economic Analytics

Program Length

One year

This two-semester program begins in August and ends in May. (one academic year)

Start Date

Fall

New cohorts begin each Fall Semester for this degree program.

Admissions Info

Do I Qualify to Enroll?

Complete your undergraduate degree and meet additional requirements. View Requirements

Entrance Test

GMAT or GRE

Students may be eligible for a GMAT/GRE test waiver with a 3.2 undergraduate GPA or 3 years of professional work experience. Please review our master's admissions policies.

Application Deadline

April 15

Note: After April 15, we are accepting applications on a space available basis.

Total Program Cost

$20,190

Additional tuition costs applied for out-of-state and international students.
View cost details

Financial Assistance

Paying for College

Scholarships, Graduate Assistantships, and Financial Aid

Class Profile

Current Students

View a listing of current Master of Science in Economic Analytics Students.

S.T.E.M. Program Designation

STEM Designation

This graduate degree is a STEM designated program.

Career Outlook

A survey of prospective employers indicates a robust and growing market for individuals successfully completing the MS in Economic Analytics program across many industries, such as retail, banking, finance, and healthcare. Common job titles associated with the knowledge and skills obtained from the program are:

  • Data Products Analyst
  • Business Intelligence Engineer
  • Program Manager
  • Data Scientist.

Expected salary for these positions is in the $75-85K range, rising sharply with experience. According to the Bureau of Labor Statistics, median pay in 2019 for master’s level economists is $105,020 per year.

Jobs and Salaries

$177,000

Median base pay for those holding NABE's Certified Business Economist® designation (CBE) per the 2020 National Association for Business Economics salary survey.

$105,020

National median pay for economists in 2019. The lowest 10 percent earned less than $59,450, and the highest 10 percent earned more than $185,020.

20,050

Number of people employed as economists in the United States. 

+2,900

Projected numeric change in the number of employed economists from 2019 to 2029. (+14% change. The average growth rate for all occupations is +4%.)

Master’s Degree

A typical requirement for entry-level employment as an economist.

Source: Bureau of Labor Statistics, U.S. Department of Labor (2019)

Industry Survey: Employer Feedback

Executives and managers from the multiple organizations wrote letters of support for offering the Master of Science in Economic Analytics degree.

"There are large technological advances being made in the data analytics and predictive space. Over time, the tools that are being developed will filter down to jobs in schools, industries and government. This is a field that is not going away. Those areas that have invested in the ability to incorporate and adopt the tools will thrive. This program is taking one step in the right direction.

A respondent from Amazon

"I believe this is a very nice addition to a standard Economics Degree program, infusing the incredibly valuable core reasoning and thinking skills from a traditional program with advanced data manipulation, analysis and interpretation skills. Graduates of Econ programs are among the best problem solvers we have. Adding more direct data science skills will only make them more effective in the workforce.""

A respondent from Information Resources Inc. (IRI)

"Hospitals collect massive amounts of information and effective utilization of this information is necessary to remain competitive and financially solvent. The proposed coursework in SQL programming, Business Intelligence, and Python scripting combined with graduate economic coursework is a great foundation for understanding healthcare processes, asking great questions, and most importantly—successfully solving problems."

A respondent from Duke University Hospital

Career Development

Close ties with our corporate partners facilitate recruiting and networking opportunities, internships, and careers.

Students can participate in corporate internships, career counseling, and take advantage of all the Walton College Career Services has to offer.

Career Services

 

Courses and Program Schedule

To obtain the Master of Science in Economic Analytics degree, students must complete the following 30 hours of coursework.

Full-Time Program Schedule

Summer 3 credit hours
Fall 12 credit hours
 
Spring 15 credit hours
 

 

Program Overview

The Master of Science in Economic Analytics is an intensive 10-month program that will guide students through economic modeling and theory to computational practice and cutting-edge tools, providing a thorough training in descriptive, predictive and prescriptive analytics.

Students will be equipped with a solid knowledge of econometric and machine learning methods, optimization and computing. These big-data skills, combined with knowledge of economic modeling, will enable them to identify, assess and seize the opportunity for data-driven value creation in the private and public sectors.

Program Highlights: Skills, Tools, Certifications

  • STEM designated degree
  • State of the art Econometrics, Forecasting and Analytical Techniques
  • Emphasis on Applied Economics and Economic Modeling
  • Capstone course on Economic Analytics
  • Training in Python and R
  • Successful students are eligible for an Enterprise Systems (Business Analytics Concentration) Graduate Certificate in addition to the MS in Economic Analytics degree.
  • Certified Business Economist exam offered on campus, in partnership with National Association for Business Economics (NABE).

Frequently Asked Questions

Program Structure

The target class size is 15-25 students.

No. At the moment it is only offered as a full-time program.

No. The program begins in mid-August and courses must be taken in order.

Math and statistics are important elements of economic analytics. Competency in algebra, calculus (especially differential calculus), linear algebra, and an econometrics/stat course would make it easier for students to focus on the concepts being taught rather than the math behind the content. Linear algebra provides shorthand notations for expressing models and is beneficial when working with data.

Program Content

Survey of popular private and publica industry tools such as Excel, R, Python and STATA will be included.

Economic Analytics refers to the combination of economic modeling and data science techniques that enable students in the program to identify, assess and seize the opportunity for data-driven value creation in the private and public sectors. The data science techniques involve the econometrics of causal inference and predictive modeling using machine learning algorithms.

“We are drowning in information and starving for knowledge.” – John Naisbitt

The digital revolution ignited an explosion of data. The availability of data is no longer a constraint to answering important questions. The critical constraint is now the ability to analyze, digest, visualize and ultimately harness the data to drive decision making in business, science and society.

The Master of Science in Economic Analytics is a 10-month intensive program that will guide students through economic modeling and theory to computational practice and cutting-edge tools, providing a thorough training in descriptive, predictive and prescriptive analytics. Students will be armed with a solid knowledge of econometric and machine learning methods, optimization, computing and database management. These “big-data” skills, combined with knowledge of economic modeling, will enable them to identify, assess and seize the opportunity for data-driven value creation in the private and public sector.

The Certified Business Economist (CBE) is a certification in applied economics and data analytics. The CBE program was designed by leading economists to bridge the gap between what is learned in an academic setting and the knowledge needed to succeed as a practitioner. Many of the most prominent economists in the corporate sector have the CBE certification.

Application

Students entering the M.S. in Economic Analytics program are expected to have a bachelor’s degree from an accredited institution with a satisfactory grade-point average. In addition, they are expected to have already mastered basic economic concepts or demonstrated, with an official GMAT or GRE test score, the ability to master economic concepts taught in the program.

https://walton.uark.edu/graduate-programs/apply.php

Yes, we welcome applications from qualified international students.

No, but some familiarity with programming is an advantage.

The Northwest Arkansas Community

Join a supportive and engaging community located in the vibrant business network of Northwest Arkansas, with over 300 Fortune 500 companies with a presence in the region.

Business leaders and Walton alumni are closely connected to the college, not just during your studies, but throughout your career.

More About Northwest Arkansas