Northwood University's Master of Science in Applied Economics (MSAE) degree is designed to provide a mixture of economics and finance courses that provide students with the practical knowledge of how economic principles can be understood, observed, and applied to everyday operations in the real world. Students of this program will learn how to access and use economic information to better inform financial decision-making processes. This curriculum will appeal to all business professionals, and particularly to those who aspire to successful managerial or executive careers in small and medium-sized private sector businesses (SMEs). The curriculum will also assist those students who wish to successfully earn the CBE (Certified Business Economist) designation to prepare for that examination.


Our courses are offered in a variety of learning modalities during Spring, Summer and Fall semesters at our Troy, Michigan campus. These classes utilize leading edge technology as support. Northwood classes are taught by faculty members who bring real-life executive experience and application-based scholarship into the classroom.


Twelve courses (36 credit hours) including six core courses, two degree electives, three general business electives, and a capstone course.

Course Summary
Core Courses 6 Courses 18 total credit hours
Core Electives 2 Courses 6 total credit hours
General Electives 3 Courses 9 total credit hours
Capstone Course 1 Course 3 total credit hours
Program Totals 12 Courses 36 total credit hours
Course Details
Core Courses (6 required courses):
ECN 5100 - Microeconomics3 credit hours
ECN 5110 - Macroeconomics3 credit hours
ECN 5120 - Economic Analysis and Modeling3 credit hours
ECN 5130 - American Business and Economic History3 credit hours
ECN 5140 - Global Economics3 credit hours
MGT 5000 - Strategic Business Analysis3 credit hours
Applied Economics Core Electives (Select 2 of the following courses):
ECN 5200 - Business Cycles3 credit hours
ECN 5210 - Economic Policy3 credit hours
FIN/ECN 5220 - Business Ethics3 credit hours
ECN 5230 - Economic Environment of the Firm3 credit hours
ECN 5240 - History of Economic Thought3 credit hours
ECN 5250 - Case Studies in Business and Economic History3 credit hours
ECN 5260 - Seminar in Economic Topics3 credit hours
General Electives:
Select three courses from the graduate level curriculum within the Finance, Accounting, Tax or Applied Economics programs.
Capstone Course (required):
ECN 6000 - Case Study of the Entrepreneurial Firm3 credit hours
  • Students who already possess an undergraduate or graduate degree in economics may take additional Economics Core elective in lieu of ECN 5100 and ECN 5110


  • Current Verifiable Resume or Curriculum Vitae (CV)
  • Official Undergraduate Transcripts: Official transcripts from all undergraduate institutions attended, including the institution where a baccalaureate degree was awarded are required. An undergraduate cumulative GPA of at least a 3.00 on a 4.00 scale is required.
  • Professional Graduate Information Session: Consists of an interview with a DeVos Graduate School Admissions Representative and a writing sample exercise.
See also: Admission Requirements.


According to the U. S. Bureau of Labor Statistics, employment of economists is projected to grow 6% from 2014 to 2024, and "job prospects should be best for those with a master's degree or Ph.D., strong analytical skills, and related work experience."