M.S. in Economics and Data Analytics

Economics and Data Analytics (M.S.)

Learn how to apply advanced analytical techniques to economic problems. Our program opens doors for exciting careers in economics, finance, business, and government.

As datasets explode in size and availability, and machine learning and artificial intelligence become key tools for empirical work, the career opportunities for students who are proficient in both economics and data analytics are greater than ever.

The Master of Science in Economics and Data Analytics program at Stuart School of Business teaches you cutting-edge skills and expertise that are in high demand—analyzing and interpreting complex data, designing and developing models, making informed decisions, and communicating insights from data effectively.

You’ll take courses that are drawn from two Stuart programs that are nationally ranked by TFE Times (2023)—M.S. in Management Science and Analytics (ranked #17) and M.S. in Marketing Analytics (ranked #23)—and taught by expert faculty with extensive backgrounds in industry.

Through Illinois Tech’s one-of-a-kind Elevate program, you are guaranteed access to hands-on experiences, such as internships and real-world projects. You’ll also receive personalized mentorship to guide your academic studies and career planning.

Stuart’s downtown Chicago location places you at the heart of a global business and financial center with one of the most diverse regional economies in the nation. Our strong industry connections open up opportunities for employment and for networking with Stuart alumni and other accomplished professionals.

Graduates of our program are prepared to step into well-paying jobs in a range of industries, such as technology, banking and finance, consulting, government agencies, nonprofit organizations, and health care.

STEM-Designated Program

This is a STEM-designated program, and international graduates of the program are eligible to apply for an extension for Optional Practical Training, which allows selected students to stay and work in the United States for up to three years after graduation.

Program Overview

In the M.S. in Economics and Data Analytics program you will have access to faculty experts and courses from both disciplines, so you can learn how to apply advanced analytical and modeling techniques, solve complex empirical problems, and communicate your insights effectively.

Career Opportunities

The M.S. in Economics and Data Analytics program provides excellent preparation for the industry, government, and nonprofit sector job markets in positions such as economists, data scientists, policy or data analysts, economic forecasters, and management consultants. The demand for professionals in these fields is growing, especially for data scientists.

For example, the United States Bureau of Labor Statistics reports a median annual wage for economists of $113,940 in 2022, with those working in management, scientific, and technical consulting services earning a median annual wage of $130,160. Projected employment growth in this profession is six percent from 2022 to 2032.

For data scientists, employment is projected to increase by 35 percent from 2022 to 2032, and the reported median annual wage in 2022 is $103,500.
 

The M.S. in Economics and Data Analytics curriculum has been developed in consultation with industry experts to encompass key skills and knowledge in the fields of economics and data analytics, so you will be prepared to provide impact and value from your first day on the job.

Successful completion of at least 33 credit hours (11 courses) is required. This degree does not allow electives.

This program typically is completed full-time in four semesters (21 months without summer courses). Especially motivated students may be able to complete the program full-time in three semesters (16 months without summer courses). Students typically pursue an internship during the summer.

Required Courses
MBA 505—Microeconomics and Game Theory
BUS 550—Business Statistics
MSC 511—Mathematical Economics I (Microeconomics)
MSC 514—Mathematical Economics II (Microeconomics and Macroeconomics)
MSC 512—Econometrics and Statistics I
MSC 515—Econometrics and Statistics II
MSC 519—Time Series Analysis
MAX 502—Analytics for Decision Making 
MAX 506—Database Design and SQL
MAX 507—Visual Analytics—Data Analytics and Visualization 
MBA 532—Artificial Intelligence

  • Completed online application
  • Official transcript submission with a minimum cumulative undergraduate grade-point average of 3.0 on a 4.0 scale
  • No GMAT or GRE scores required
  • A one-page statement of purpose, with goals and objectives
  • Experience is desirable, but not essential
  • English proficiency exam, if required

This program is designed to meet the needs of students with widely varied levels of exposure to either economics or data analytics. Some extent of a quantitative background is recommended.

Scholarships

Domestic students pursuing the M.S. in Economics and Data Analytics degree are eligible to apply for the Chicago Talent Pipeline Scholarship, which supports motivated individuals to advance their career paths as project management professionals. This scholarship awards up to $14,000 per degree.

International students pursuing the M.S. in Economics and Data Analytics degree are eligible to apply for the Stuart School of Business Dean’s Scholarship, which awards up to $14,000 for the full two-year program.

Read more about Stuart scholarship opportunities and tuition and fees:

STUART SCHOLARSHIPS   TUITION AND FEES

Stuart Stands Out

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Stuart is AACSB Accredited. Only 6% of Business Schools Globally Are.

—Association to Advance Collegiate Schools of Business International

98.4%

Career Placement Rate

—Stuart School of Business 2022 master’s and Ph.D. graduates reporting

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Only Business School in a Tech-Focused University in Chicago

Featured Faculty

Elizabeth Durango Cohen
Associate Professor of Operations Management M. Zia Hassan Endowed Professor Assistant Director, M.S. in Marketing Analytics Director, Center for Advancing Corporate Performance
Haizhi Wang
Professor of Finance
Siva Balasubramanian
Associate Dean Director, Management Science Programs and Faculty Review Harold L. Stuart Endowed Chair in Business Professor of Marketing
Ricky Cooper
Director, Ph.D. in Finance Director, M.S. in Finance Director, M.S. in Financial Economics Associate Professor of Finance
Priyanka Sharma
Associate Professor of Economics
Dinakar Jayarajan
Clinical Associate Professor of Marketing Assistant Professor of Graduate Business Programs

Move Your Career Forward

Alumni relations

A global network of accomplished Illinois Tech alumni is available to engage with and support our students.

Career development

Stuart’s Career Management Center offers individualized career counseling, resources for job and internship search, and opportunities to network with industry professionals.

For More Information

Brian Albertsen

Do you have questions about Stuart School of Business degree programs or the application and enrollment process? Connect with our Director of Recruitment and Enrollment Strategy Brian Albertsen.

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