Master of Science in Economics
Master of Science in Economics

Brief description of the major field

The Master of Science in Economics Program aims to develop graduates with soled foundations in Economic theory, and who are strongly equipped with quantitative methods; and produce graduates who have the unique characteristics of being able to carry out scientific investigation in related disciplines where the University of the Philippines Los Baños is strong, where the crucial problem of current and intertemporal scarcity of resources has be to be and squarely confronted.

Prospective Students

BA/BS degree holders with sufficient background in Economics

Selling Points and Opportunities

Graduates can join the academe to teach or do research and the corporate world (strategic planning department). Both the public and private sectors MS ECON graduates

Requirements and mechanics to graduate

The MS ECON program requires students to earn at least 32 units of graduate work. This consists of 15 units of core courses (ECON 201, ECON 202, ECON 230, ECON 237, ECON 203 or ECON 204); 9 units of specialization courses; 2 units of seminar (ECON 299) 6 units of master’s thesis (ECON 300).

All applicants will be given validation examination in undergraduate level macroeconomic theory, microeconomic theory, mathematical economics, and econometrics. Applicants who pass this examinations will not be required to undergo the Summer Program in Economics.

The Summer Program in Economics (SPE) is a two month program offered regularly from June to July of each year. For the prospective applicant to proceed to the regular graduate program, he/she must obtain a weighted average grade of 2.00 or better in four modules in the SPE.

Graduate Course

ECON 201. Macroeconomic Theory I (3). Theories of income and employment determination and the business cycle; theories of inflation and unemployment; the macroeconomy and the fiscal, monetary, and external sectors; open economy macroeconomics; stabilization policies. 3 hrs (class). PR. ECON 101 or COI. (1)

ECON 202. Microeconomic Theory I (3). Preference and choice; consumer choice and demand; production costs, profits, and supply; competitive markets; market structure; externalities, public goods, and market failure; general equilibrium and welfare. 3 hrs (class). PR. ECON 102 or COI. (1) 

ECON 231. Economic Dynamics (3). Dynamic analysis and dynamic optimization with applications in economics. 3 hrs (class).PR. ECON 230. (2) 

ECON 237. Econometrics (3). Single equation and simultaneous equation problems; techniques of estimation, specification, and identification problems in economic analysis. 3 hrs (class). PR. AECO 103, ECON 137, or COI. (1)

ECON 238. Econometric Time Series Analysis. (3). Theory of difference equations, stationary time-series models, unit root processes, multi-equation time-series models, cointegration and error-correction models. 3 hrs (class). PR. ECON 237. (2) 

ECON 239. Economy-Wide Modeling (3). Macro-economic models and applied general equilibrium models. 3 hrs (class). PR. ECON 201, ECON 202, ECON 230 and ECON 237. (2)

ECON 241. International Trade and Commercial Policy (3). Causes of trade and effects on resource allocation, economic growth, and income distribution. Selected issues in international commercial trade policies particularly those relating to agricultural commodity trade. 3 hrs (class). PR. ECON 201 and ECON 202. (2)

ECON 271. Advanced Resource Economics (3). Applications of economic concepts such as social welfare, externalities, social cost and gains to decision-making associated with optimizing use of natural resources. 3 hrs (class). PR. AECO 240 or COI. (2)

ECON 275. Economic Valuation of Environmental and Natural Resource System (3). Approaches and techniques for economic measurements and valuation of natural resources and environmental impacts of development. 3 hrs ( class). PR. COI. (2)

ECON 291. Special Topics (1-3). May be taken twice provided that total number of units to be credited to the student’s program will not exceed 4 units. PR. COI. 

ECON 299. Graduate Seminar in Economics (1). PR. COI. (1,2). May be taken twice for a maximum of 2 units.

ECON 300. Master’s Thesis (6). (1,2,S)

Adopted Courses from UP Diliman


ECON 203. Macroeconomic Theory II (3). Theories of consumption, saving and investment; theories of growth, theories of economic development and accumulation. 3 hrs (class). PR. ECON 201. (2)

ECON 204. Microeconomic Theory II (3). Information assymetry; hidden action; equilibrium under uncertainty and over time; social choice; axiomatic bargaining; incentive and mechanism design. 3 hrs (class). PR. ECON 202 or COI. (2)

ECON 230. Mathematical Economics (3). Applications of linear algebra, theory of functions, linear and nonlinear optimization in economic theory. 3 hrs (class). PR. COI. (1)

ECON 251. Public Economics (3). Market failures; theory of public goods; public choice and incentive mechanisms for good allocation; public sector pricing; incentive effects of taxation; optimal taxation and redistribution. 3 hrs (class). PR. ECON 202 or COI. (2)

ECON 285. Development Economics I (3). Theories of economic growth and development; background and comparative analyses of growth in developed and developing countries. 3 hrs (class). PR. ECON 201 or COI. (2)