University of the Philippines Los Baños

College of Economics and Management

University of the Philippines Los Baños

College of Economics and Management

Department of Economics
Master of Science in Economics
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Master of Science in Economics

Series as of 2024

About | Career Benefits | Admission Requirements | Specializations | Curriculum | Electives | Faculty | Summer Program | Course Guide

About the program

The Master of Science in Economics Program aims to develop graduates with solid foundations in economic theory and strong proficiency with quantitative methods applicable in the fields of environmental and development economics. It seeks to produce graduates who posses unique abilities to carry out scientific investigation in related disciplines where the University of the Philippines Los Baños excels, and address the critical challenges posed by current and intertemporal scarcity of resources. 

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How to Apply

Why pursue Master of Science in Economics at UPLB?

Carry out scientific inquiry with modern quantitative methods

Critically evaluate real-world scenarios affected by intertemporal scarcity of resources

Approach policymaking with a multidisciplinary mindset

Address major concerns in your field of specialization

Make top-level decisions with strong foundations in leadership

Graduate Stories

"I was working in the Municipal Planning and Development Office in Calamba, and I wanted to link what I do in the LGU and my skills as a BS Statistics graduate to economics theories. You’re lucky to be a DE student because the department really takes care of its students. It’s up to you to show them what you’re made of. I remember meeting my classmates every day in the library to review together for the comprehensive exam like we were in a team-building activity. After the program, I transferred to the power sector where I applied optimization models and financial valuation to the energy markets. I'm now a vice president in my company and proud to be an alumna of MS Econ!”
Cherry Aquino-Javier
First Vice President for Regulatory Affairs, Aboitiz Power Corporation
MSE Class of 2003
I previously worked as an Assistant Professor at the UPLB Department of Economics from 2008 to 2014, and I am now an economics lecturer at various colleges and universities in the US, including California State University Long Beach, California State University Fullerton, Riverside City College, and Rio Hondo College. The program at UPLB is highly competitive and can stand alongside graduate programs in the US. I had no issues with the equivalency of my degree, as employers treated it on par with US degrees. In fact, there were instances when I knew things my classmates, educated in the US, did not. This is a testament to the program's rigor and competitiveness. Choosing this MS Economics would be one of the best decisions you could make—the journey will be challenging, but it will undoubtedly be worth it.
Harvey Baldovino
Lecturer and Economics Core Consultant, California State University, Long Beach
MSE Class of 2012
I chose to pursue my Master's at the UPLB Department of Economics because of its outstanding reputation for producing high-quality graduates, both Filipino and international. The program exceeded my expectations by offering an in-depth understanding of economic theories and providing practical experience through the use of real data in class exercises and assignments. This hands-on approach allowed me to apply theoretical knowledge to real-world scenarios, enriching my learning experience. Just a year after completing the degree, I was promoted at the International Rice Research Institute. Cherish the opportunity to study at one of the most prestigious economics schools in the Philippines. This program will equip you with invaluable knowledge and skills that will shape and enhance your future career. Good luck, and strive to make DE-CEM proud!
Donald Villanueva
Associate Scientist, International Rice Research Institute
MSE Class of 2016

Specializations

The specializations offered by the MS Economics program were designed to produce graduates who are relevant and capable of addressing emerging problems of today’s world. Nine units of your coursework will be focused on your chosen field of specialization. You will also be required to produce a master’s thesis in line with your chosen specialization.

Development Economics

Specialize in advanced development economics, international trade, commercial policy, and public economics. This track focuses on the theories and problems of growth with a developmental approach of the experiences in low income and high income countries.

Environmental Economics

Specialize in advanced environmental economics and economic valuation of environmental and natural resource systems. This track focuses on the economic role of the environment at the center of growth and development. 

Curriculum

The MS Economics 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), a comprehensive exam; and culminate with 6 units of master’s thesis (ECON 300) that is aligned with the student’s chosen specialization.

Development Economics Track

ECON 201. Macroeconomic Theory I (3)
ECON 202. Microeconomics Theory I (3)
ECON 230. Mathematical Economics (3)
ECON 237. Econometrics (3)

ECON 299. Graduate Seminar in Economics (1)

ECON 203. Macroeconomic Theory II
 or ECON 204. Microeconomic Theory II (3)

ECON 285. Advanced Development Economics (3)
ECON 241. International Trade and Commercial Policy (3)
ECON 251. Advanced Public Economics (3)

Qualified Elective (3)

ECON 299. Graduate Seminar in Economics (1)

Comprehensive Exam
ECON 300. Master’s Thesis (3)

ECON 300. Master’s Thesis (3)

Environmental Economics Track

ECON 201. Macroeconomic Theory I (3)
ECON 202.  Microeconomics Theory I (3) 
ECON 230. Mathematical Economics (3)
ECON 237. Econometrics (3)

ECON 299. Graduate Seminar in Economics (1)

ECON 203. Macroeconomic Theory II 
or ECON 204. Microeconomic Theory II (3)

ECON 270. Advanced Environmental Economics (3) 
ECON 275. Economic Valuation of Environmental and Natural Resource Systems (3)

Qualified Elective (3)

ECON 299. Graduate Seminar in Economics (1)

Comprehensive Exam
ECON 300. Master’s Thesis (3)

ECON 300. Master’s Thesis (3)

List of Qualified Electives

  • ECON 231. Economic Dynamics
  • ECON 238. Econometric Time Series Analysis
  • ECON 239. Economy-wide Modeling
  • AECO 248. Economic Analysis and Design of Natural Resource and Environmental Policies
  • AECO 250. Agriculture and Economic Development
  • AMAT 266. Deterministic Mathematical Decision Models.
  • AMAT 267. Probabilistic Mathematical Decision Models
  • DM 201. Development Perspective
  • DM 220. Public Policy and Program Administration for Development
  • STAT 241. Statistical Theory 1

Master of Science in Economics Faculty

Luisito C. Abueg

MA in Economics - University of the Philippines Diliman

Economic History
Gender Economics
Mathematical Economics
Jhoana V. Alcalde

MA in Economics - University of the Philippines Diliman

Development Economics,
Microeconomic Theory
Econometrics
Emannuel Genesis T. Andal

PhD in Economics - University of Reading, UK

Energy Economics
Economics of Climate Change
Development Economics
Jefferson A. Arapoc

PhD in Economics - University of Newcastle, AU

Behavioral Economics Experimental Economics
Game Theory
Jaimie Kim B. Arias

PhD in Economics - Ateneo De Manila University

Environmental and Natural Resource Economics
Jose D.V. Camacho Jr.

PhD in Economics - Kyoto University, Japan

Human Resource Economics
Economics of Education
Development Economics
Gideon P. Carnaje

PhD in Economics - UP Diliman

Human Resource Economics
Economic History
Ma. Angeles O. Catelo

PhD in International Development - Nagoya University, JP

Environmental Economics
Livestock Economics
Microeconomic Theory
Agham C. Cuevas

PhD in Economics - UP Diliman

Institutional Economics
Public Economics
Macroeconomic Theory
Richard B. Daite

PhD cand't in Economics - University of Reading, UK

Public Economics, 
International Economics
Rowena A. Dorado

PhD cand't in International Development - Nagoya University, JP

Environmental and Natural Resource Economics
Development Economics
Anna Floresca F. Firmalino

PhD cand't in Economics - Nagoya University, JP

Public and Institutional Economics
Energy Economics
Higher Education Management
Niño Alejandro Q. Manalo

PhD cand't in Economics - UP Diliman

Development Economics
Environmental Economics
Energy Economics
Paul Joseph B. Ramirez

MA in Economics - University of the Philippines Diliman

Environment and Natural Resource Economics
Fishery Economics
International Economics
U-Primo E. Rodriguez

Master of Economics of Development - Australian National University, AU

Economy-wide and partial equilibrium modeling
Asa Jose U. Sajise

PhD in Economics - University of California Berkeley, US

Environmental Valuation
Behavioral Economics
Applied Economics
Ma. Luisa G. Valera

PhD in Economics - Ateneo De Manila University

Development Economics
Human Resource Economics
Monetary Economics

Admission Requirements

Aspiring students must hold a BA or BS degree with sufficient background in Economics. 

Application for the August intake starts on February to April every year. The Masters of Science in Economics program only accepts students during the first semester of each academic year.

Click here to visit the Graduate School website for more information

Summer Program in Economics

The Summer program in Economics (SPE) is a pre-requisite for aspiring MS Economics students. It is a comprehensive four-week program designed to lay the ground work for understanding economic concepts, principles, and models, and equip students with the tools required to proficiently apply economic analysis in both teaching and research domains.  

The program is in a fully online format, comprising both asynchronous and synchronous sessions to allow participants to integrate their learning journey into their schedule from anywhere in the world.

The program is composed of four modules tackling the following subject areas:

  • Elementary Methods of Mathematics for Economists
  • Principles and Applications of Microeconomic Analysis
  • Principles and Applications of Macroeconomic Analysis
  • Fundamentals of Statistical and Econometric Analysis

Students must obtain a weighted average grade of 2.0 or better to proceed with regular admission. Applicants with academic distinctions are not required to take the program but are encouraged.

Inquire about the SPE

Timeline of Admissions

Course Guide

 

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 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 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 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 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 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)

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)