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Levy Graduate Programs
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About Us

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The Master of Arts and Master of Science in Economic Theory and Policy combine a rigorous course of study with the exceptional opportunity to participate in advanced economics research at the Levy Economics Institute, a nonprofit, nonpartisan think tank with more than 30 years of public policy research experience. The curriculum provides a solid foundation in both neoclassical and alternative economic theory, policy, and empirical research methods. Classes are limited in size to ensure a meaningful research experience.
Research with an Impact

Research with an Impact

Our MA and MS programs provide instruction grounded in the measurement and understanding of income and wealth inequality—which are at the core of the research and coursework offered at the Levy Economics Institute. The Institute is well known for its work in macroeconomic theory and policy analysis, the development and exploration of alternative measures of economic well-being and income and time poverty, and its continuing efforts to extend the work of Distinguished Scholars Hyman P. Minsky and Wynne Godley.

Our Location


Bard College is 90 miles (two hours) north of New York City and approximately 50 miles (one hour) south of Albany, with Amtrak service to Rhinecliff, New York, about nine miles south of Annandale.

  • Blithewood and the Levy Institute
    The Graduate Programs are offered at the Levy Economics Institute, housed in Blithewood, the 19th-century riverfront mansion on the main campus of Bard College in Annandale-on-Hudson, New York. Blithewood houses offices for scholars and staff, a library, a graduate student's lounge, a conference room, and several lecture and meeting rooms. It is equipped with advanced computer and communications systems to provide extensive research resources. 
    More about the Levy Institute
  • Bard College Campus
    The Bard College campus is situated on the east shore of the Hudson River in New York State, comprising nearly 1,000 wooded acres with spectacular views of the Catskill Mountains. Students enjoy world-class performing arts venues on campus, as well as conferences and other special events. Bard’s campus is a center from which students explore the rich natural and cultural life of the Hudson Valley, and also have easy access by car or train to New York City, about 90 miles to the south.
    More about Bard

Land Acknowledgment for Bard College in Annandale-on-Hudson

Developed in Cooperation with the Stockbridge-Munsee Community
In the spirit of truth and equity, it is with gratitude and humility that we acknowledge that we are gathered on the sacred homelands of the Munsee and Muhheaconneok people, who are the original stewards of the land. Today, due to forced removal, the community resides in Northeast Wisconsin and is known as the Stockbridge-Munsee Community. We honor and pay respect to their ancestors past and present, as well as to future generations, and we recognize their continuing presence in their homelands. We understand that our acknowledgment requires those of us who are settlers to recognize our own place in and responsibilities toward addressing inequity, and that this ongoing and challenging work requires that we commit to real engagement with the Munsee and Mohican communities to build an inclusive and equitable space for all.

Learn More

Traveling to Bard

Bard is 90 miles (two hours) north of New York City and approximately 50 miles (one hour) south of Albany, with Amtrak service to Rhinecliff, New York, about nine miles south of Annandale.

More about Visiting Bard

Distinguished Scholars

  • Hyman P. Minsky
    Hyman P. Minsky was a Levy Institute Distinguished Scholar from 1990 until his death in 1996, establishing two of the Institute's ongoing research programs: Monetary Policy and Financial Structure and The State of the U.S. and World Economies. He rejected conventional economic ideas, such as the efficient market hypothesis, in favor of what he called the financial instability hypothesis that held that over a prolonged period of prosperity, investors take on more risk until lending exceeds what borrowers can pay off from their incoming revenues. When overindebted investors are forced to sell even their less-speculative positions to make good on their loans, markets spiral lower and create a severe demand for cash—an event that has come to be known as a "Minsky moment."
    The Minsky Archive
  • Wynne Godley
    Much of Wynne Godley’s work focused on the strategic prospects for the US, UK, and world economies, and the use of accounting macroeconomic models to reveal structural imbalances. He published extensively. His 2007 book Monetary Economics: An Integrated Approach to Credit, Money, Income, Production, and Wealth (with Marc Lavoie) is an elaboration of his classic textbook Macroeconomics, written in 1983 with Francis Cripps. With it, Godley aimed to revive the tradition of macroeconomics practiced by the original Cambridge Keynesians, in combination with the theory of asset allocation pioneered by James Tobin.
    Wynne Godley's Publications

Special Events

Throughout the year the Levy Institute organizes workshops, symposiums, and seminars. These events offer Levy graduate students an opportunity to experience real-world discussions on employment policy, economic development, financial instability and crises, financial regulation, economic theory, and the gender implications of macroeconomic processes and policies, among other issues.

  • Accreditation

    Accreditation

    Bard College is accredited by the Middle States Commission on Higher Education, a regional accrediting agency approved by the United States Education Department. Middle States Commission on Higher Education, 3624 Market Street, 2nd Floor West, Philadelphia, PA  19104; phone 267-284-5000
    https://www.msche.org/institution/0267/

    The New York State Education Department has registered the following courses of study leading to Bard College bachelor, masters, and doctoral degrees: the bachelor of arts, bachelor of music, bachelor of science, master of arts in curatorial studies, master of arts in teaching, master of fine arts, master of business administration in sustainability, master of music in vocal arts, master of music in conducting, master of music in curatorial, critical, and performance studies, master of science in environmental policy, master of science in climate science and policy, master of education in environmental education, master of science and master of arts in economic theory and policy, and the master of arts, master of philosophy, and doctor of philosophy degrees in decorative arts, design history, and material culture. New York State Education Department, Office of Higher Education, Office of College and University Evaluation, Room 960 EBA, 89 Washington Avenue, Albany, NY  12234; phone 518-474-1551
    http://www.nysed.gov/heds/IRPSL1.html

    Bard is also a member of the American Council on Education, American Council of Learned Societies, Association of American Colleges and Universities, College Entrance Examination Board, Commission on Independent Colleges and Universities, Education Records Bureau, and Environmental Consortium of Hudson Valley Colleges and Universities.
  • Notice of Nondiscrimination

    Notice of Nondiscrimination

    Bard College is committed to ensuring equal access to its educational programs and equal employment without regard to an individual’s sex, gender, race, color, national origin, religion, age, disability, gender identity, sexual orientation, predisposing genetic characteristics, marital status, veteran status, military status, domestic violence victim status, ex-offender status, or any other characteristic protected by federal, state, or local law. Students, employees, applicants, and other members of Bard College community (including, but not limited to, vendors, visitors, and guests) shall not be subject to discrimination or harassment prohibited by law or otherwise treated adversely based upon a protected characteristic. Similarly, the College will not tolerate harassing, violent, intimidating, or discriminatory conduct by its students, employees, or any other member of, or visitor to, the College community. This includes, without limitation, sexual harassment, sexual assault, sexual violence, dating violence, and domestic violence.
  • Educational Rights and Privacy Act

    Educational Rights and Privacy Act

    Bard College complies with the provisions of the Family Educational Rights and Privacy Act of 1974. This act assures students attending a postsecondary institution that they will have the right to inspect and review certain of their educational records and, by following the guidelines provided by the College, to correct inaccurate or misleading data through informal or formal hearings. It protects students’ rights to privacy by limiting transfer of these records without their consent, except in specific circumstances. Students have the right to file complaints with the Family Policy Compliance Office, U.S. Department of Education, Washington, D.C. College policy relating to the maintenance of student records is available, on request, from the Office of the Registrar.
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Graduate Programs in
Economic Theory and Policy

Levy Economics Institute
Blithewood Road
Annandale-on-Hudson, NY 12504
Admission Contact:
Carlton Rounds
Phone: 845-758-7776
Email: [email protected] 
Email: [email protected]
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