The Levy Institute M.S. curriculum is an intensive set of 16 courses taught over two years, with a required practical yearlong research workshop and an original master's thesis. Of these 16 courses, seven are core courses, three are mentored research (including the capstone master's thesis), and six are electives.
Students gain a solid foundation in economics with strong emphasis in theory, policy, and modeling. The research and policy work of Levy Institute scholars spans a broad range of issue areas, featuring distinctive strengths in macroeconomic theory and policy analysis; the development and exploration of alternative measures of economic well-being and income and time poverty, with applications for international comparisons and developed/developing world policy study; and, following the work of the late Levy Institute Distinguished Scholars Hyman Minsky and Wynne Godley, a unique focus on investigating the roots of financial crises and the reshaping of the financial regulatory structure, and developing stock-flow consistent modeling.
The economic theory and policy emphases of the program, with strong empirical and methodological components, offer a rigor that many other economics programs provide as electives. While graduates can concentrate on individual specializations, the core empirical competencies offer students a strong understanding of economic and policy models at both the macro and micro level. This is particularly relevant in international settings, including the high demand at NGOs, government agencies, multinational firms, and international agencies (such as the International Labour Organization, United Nations, International Monetary Fund, World Trade Organization, and World Bank).
Students in the 3+2 dual-degree program receive both a B.A. and the M.S. degree, completing the program in five years. Undergraduates must fulfill the College’s standard degree requirements
as well as those for the Economics Program
. The only exception is the senior project, which is replaced by the master’s thesis at the end of the 5th year. The following courses count toward both degrees: Advanced Macroeconomics, Advanced Microeconomics, Research Methods 1, and Monetary Economics.