Degree Overview

The Master degree in Economics is designed to provide a technical and rigorous approach to the study of economics while offering students the flexibility to take field electives in order to tailor their programs of study to their professional goals. The program is ideal for anyone looking for a program which specializes in advanced applied economic research. The program offers an excellent opportunity for students seeking a quantitative degree in order to prepare themselves to work in a variety of positions that require the ability to conduct applied economic research.

Graduates of the Master program will have the tools to conduct applied economic research and a sound preparation for progression to doctoral study. Specifically, upon successful completion of the program graduates will be able:

  • To take a rigorous, quantitative approach to solving economic problems
  • To build and test economic models, using sophisticated economics tools
  • To advance professionally and to compete for well-paying jobs across a broad spectrum of industries and sectors
  • To apply to and enroll in a doctoral program

Degree Requirements

A Master degree in Economy requires thirty-two (32) credit hours of approved courses for admitted students with B.S. in Economy. Admitted students with a different undergraduate degree are also required to complete a few credits of leveling courses which prepare such students for success in the Master in Economy which does not count toward the degree.

Leveling Courses (not applicable to the degree)

The Masters in Economy curriculum a B.S. in Economy. After admission, any student holding any other undergraduate degree besides Economy will be required to complete the following leveling courses that are designed to provide an overview of Economy. These leveling courses are not counted for graduate credits towards the Master degree in Economy.

  • Introduction to Microeconomics
  • Introduction to Macroeconomics
  • Introduction to Econometrics

Students must write and defend a final thesis. The curriculum is intended to be completed in four semesters. This program is taught in English.

A minimum GPA of 14 over 20 must be maintained for graduation.

Core Courses: 4 courses required; 14 credits

Elective Courses: 4 courses required; 12 credits

Thesis: 6 credits

The research work for the thesis is supervised by one of the department members. The thesis must be written and defended within the second calendar years after admission into the M.S. in Economics program. The Thesis Committee will consist of a Chair and at least two other academic referees.

Course description:


Course content:

What Is Economics?, First Principles, Economic Models: Trade-offs and Trade, Supply and Demand, Consumer and Producer Surplus, Price Controls and Quotas: Meddling with Markets, Elasticity, Individuals and Markets, Taxes, International Trade, Economics and Decision Making, Decision Making by Individuals and Firms, How to Make Decisions Involving Time : Understanding Present Value, The Consumer, The Rational Consumer, The Production Decision, Behind the Supply Curve: Inputs and Costs, Perfect Competition and the Supply Curve, Market Structure: Beyond Perfect Competition, Monopoly, Oligopoly, Monopolistic Competition and Product Differentiation, Microeconomics and Public Policy, Externalities, Public Goods and Common Resources, The Economics of the Welfare State , Factor Markets and Risk , Factor Markets and the Distribution of Income, Uncertainty, Risk, and Private Information


Course content

The Science of Macroeconomics, The Data of Macroeconomics, National Income: Where It Comes From and Where It Goes, Money and Inflation, The Open Economy, Unemployment, Economic Growth I: Capital Accumulation and Population Growth, Economic Growth II: Technology Empirics, and Policy, Introduction to Economic Fluctuations, Aggregate Demand I: Building the IS–LM Model, Aggregate Demand II: Applying the IS–LM Model, The Open Economy Revisited: The Mundell–Fleming Model and the Exchange-Rate Regime, Aggregate Supply and the Short-Run Tradeoff Between Inflation and Unemployment, A Dynamic Model of Aggregate Demand and Aggregate Supply, Stabilization Policy, Government Debt and Budget Deficits, Consumption, Investment, Money Supply, Money Demand, and the Banking System


Course content

Finite Sample Properties of OLS, Large Sample Theory, Single Equation GMM, Multiple Equation GMM, Panel Data, Serial Correlation, Extremum Estimators, Examples of Maximum Likelihood, Unit Root Econometrics, Cointegration, Partitioned Matrices and Kronecker Products

Topics in the Islamic Economy

Course content

Capitalism and the Islamic Economic System, Overview of an Ideal Islamic System, Institutional Structure of a Sound Economy, The Rules Governing an Islamic Economy, The Operational Features of an Islamic Economy, Contemporary Muslim Economies and Rule Compliance, Towards Achieving the Ideal Islamic Economy, Islamic Principles of Industrial Relations

Economic systems

Course Content:

Traditional Economies, Market Economies, Command and Planned Economies, Mixed Economies, The Internet Economy, The Future of World Economies

Applied Econometrics

Course Content:

The Classical Linear Regression Model, The Assumptions of the CLRM, Topics in Econometrics, Time Series Econometrics, Panel Data Econometrics, Using Econometric Software

Monetary Economy

Course Content:

The heritage of monetary economics, The transactions demand for money, Portfolio selection and the speculative demand for money, Precautionary and buffer stock demand for money, Monetary aggregation, The demand function for money, The demand function for money: Estimation problems, techniques, Findings, Money supply, interest rates and the operating targets of monetary, policy: Money supply and interest rates, The central bank: Goals, targets and instruments, The central bank: Independence, time consistency and credibility, The determination of aggregate demand, The classical paradigm in macroeconomics, The Keynesian paradigm, Money, bonds and credit in macro modeling, Macro models and perspectives on the neutrality of money, Walras’s law and the interaction among markets, The macroeconomic theory of the rate of interest, The structure of interest rates, The benchmark overlapping generations model of fiat money, The OLG model: Seigniorage, bonds and the neutrality of fiat money, The OLG model of money: Making it more realistic, Monetary growth theory

Economic Planning

Course Content:

Methods and Mathematical Models of Budget Management, EnergyEntropic Methods in Assessment and Control of Economic Systems, Currency Trading Methods and Mathematical Models, Methods and Mathematical Models of Innovation Project Appraisal, Mathematical Methods for Making Investment Decisions, MultiObjective Stochastic Models for Making Decisions on Resource Allocation, Mathematical Methods and Models for Monitoring of Government Programs, Methodology for Identification of Competitive Industrial Clusters

International Trade

Course Content:

From disappointment to hope, The Agreement on Sanitary and Phytosanitary Measures, The Agreement on Technical Barriers to Trade, The Agreement on Agriculture, The General Agreement on Trade in Services GATS The Agreement on Intellectual Property Rights, Compatible or contradictory, The Agreement on Rules of Origin, The Agreement on Subsidies and Compensatory Measures, Towards an equality of power , The emergence of new issues

Development Economics

Course Content:

The Development Gap, Poverty and Inequality, Population Growth, Economic Growth, Structural Change and Development Strategies, International Trade and Exchange, Institutions and Economic Development, Markets and Hierarchies, Political Institutions, Legal and Fiscal Institutions, Culture, Rural Land Rights and Contracts, Property Rights and Efficiency in Urban Areas, Market Development, The Role of Credit Markets in Development, Health Care Delivery in Developing Countries, Delivering Education in Developing Countries, Delivering Infrastructure in Developing Countries ,Corruption, Conflict

Economy of Iran

Course Content:

Overview of Iran’s Economy, Economic Policy and Reform Efforts, Economic Stakeholders, Economic Sectors, International Trades, International Financial Flows

Program taught in:
  • English

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This course is Campus based
Start Date
Sep 2020
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