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Economists are key in tackling the big issues of our time. For instance, the Affordable Care Act in the US was heavily influenced by research on healthcare accessibility and cost management. This landmark policy expanded coverage to millions of uninsured Americans. Similarly, the work of Nobel laureates Abhijit Banerjee and Esther Duflo in randomised controlled trials revolutionised poverty alleviation programmes in developing countries.
Indeed, following in their footsteps is no easy feat, but where you choose to pursue an advanced degree will undoubtedly shape your ability to make a difference. Penn State University is a solid choice, and the proof is in the numbers. Its Department of Economics is a leading R1 research institution, consistently ranking among the top 30 economics departments by US News & World Report.
Its goal is simple: to train the next generation of professional economists for academia, the government, and the private sector. One way it accomplishes this is through its MA in Economics — a qualification grounded in the methodology and ideas of modern economics. Relevance aside, here’s how else this graduate programme can empower you to make meaningful contributions to the world.
It’s taught by the best
All courses are taught by full-time regular faculty members who provide the individualised attention you’ll need to excel. And since they are the same tenured and tenure-track faculty who teach and supervise PhD students, you’ll receive the same rigorous training and mentorship.
Their research interests are diverse, and their credentials are impressive. For example, Kai-Jie Wu focuses on macroeconomics, economic growth, and labour economics. For the last 40 years, his work has revolved around the role of specialised firms in industry concentration. Maria Jose Carreras-Valle is a recent addition to the faculty. Her research in international economics and trade, particularly the impact of global supply chains on US manufacturing inventories, highlights the global perspective and real-world relevance Penn State aims to bring to the classroom.
Thousands of Penn State students take on academic programmes, research, service, internships, and cultural immersion opportunities abroad each year. Source: Penn State University
It can open various doors
Whether you aim to pursue a PhD or seek positions in the private sector or government, this programme will equip you with a solid foundation. By introducing you to and inviting you to participate in cutting-edge economics research, you can follow in the footsteps of several graduates who have successfully entered prestigious PhD programmes across the US. The opportunity to take PhD-level courses will heighten your chances of doctoral success.
However, if you’re an international student hoping to enter the US workforce once you graduate, take comfort in knowing the MA in Economics is STEM-designated. This means you could apply for a 24-month STEM extension of the F1 Optional Practical Training — in addition to the standard 12 months.
It’s experiential
Joining the MA in Economics means taking on research opportunities at one of the top research institutions in the country. Beyond the classroom, Penn State places a strong emphasis on real-world applications through internships, education abroad, and involvement in student organisations — all of which boost career readiness.
The best part? The Department of Economics is housed within the College of the Liberal Arts, which offers support for these endeavours, including financial assistance through the Liberal Arts Career Enrichment Network. This ensures you can pursue enriching opportunities without financial barriers. Hundreds of Liberal Arts students at Penn State intern with Fortune 500 companies, government agencies, and nonprofits.
Penn State University Park is located in the small city of State College. Source: Penn State University
It’s inclusive
The College of the Liberal Arts brings together students, faculty, and staff from diverse backgrounds to tackle society’s most critical issues. Currently, 40% of its student body identifies as members of minority groups, and 14% are international students. The Office of Equity, Inclusion, and Diversity plays a crucial role in supporting them.
If you’re an international student, it can help you get involved in student organisations, research opportunities, and education abroad experiences. Such support typically inspires students to pay it forward, and they can do so by joining the Graduate Alliance for Diversity and Inclusion. As participants, their job will be to further promote a sense of community among graduate students, advocating for policies that uplift and inspire.
Life in University Park is fun
Living at University Park, the largest campus in the Penn State system, can be just as exciting as it is convenient. Surrounded by a blend of historic charm and modern amenities, you’ll constantly find yourself strolling past iconic buildings like Old Main on your way to state-of-the-art facilities like the Information Sciences and Technology Building or the Life Sciences Building.
But life at University Park isn’t just about academics. The College of the Liberal Arts hosts over 200 events each year for you to engage with the community, network, and learn outside the classroom. Whether you’re attending guest lectures, cultural events, or social gatherings, there’s always something happening to make your Penn State memorable.
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