Master of Arts (MA) in Applied Economics

The study of economics has changed considerably since the introduction of mathematical and econometric methods of analysis. The Master of Arts (MA) in Applied Economics provides interested candidates with an in-depth understanding of economic theory and applied quantitative methods.

The program prepares future professionals for jobs as applied economists in the private and public sectors. The student will learn how to gather, read and assess economic data, as well as conduct relevant policy analyses that are most valued by businesses, organizations, and policymakers. The program is also designed to be an intermediate step to the PhD in Economics or related fields.

Admission

Admission to the graduate programs offered at the Adnan Kassar School of Business follow the LAU general graduate requirements.

In addition to the following:

• Holders of a bachelor’s degree in economics, in any related field (such as finance with a minor in economics), or in a quantitative field (i.e. mathematics, physics, computer science, engineering) are eligible to apply.

• A minimum GPA of 3.0 is required. 

Program Requirements

The program consists of 30 credits with core courses emphasizing advanced microeconomics, macroeconomics, econometrics and quantitative methods. A selection of diverse topics totaling 9 credits constitute the elective component. The topic courses survey current policy issues in local, regional and international contexts.

To obtain the MA degree, students should complete a total of 30 credits composed of:

- Core Requirements (18 credits)
- Elective Requirements (9 credits)
- Capstone Project (3 credits)

The Applied Economics Project course is a research project written under the supervision of a faculty member. Students are required to use economic models and tools to tackle an applied economics problem. Students are then required to present their work in a forum open for economics faculty and graduate students. 

Core Requirements (18 credits)

Electives (9 credits with minimum 6 credits in economics)

MA Project (3 credits)

Program Outcomes

The MA in Applied Economics program places a significant emphasis on research experience, preparing our students to understand and analyze complex economic theories but also to apply these theories in a practical research setting.

Comprehensive econometrics training is a crucial part of the program. With three specialized econometrics courses, our students are equipped with robust quantitative skills, enabling them to model, forecast, and analyze economic and social phenomena. Throughout these econometric courses, students learn how to use the appropriate tools (i.e. Stata) needed to analyze datasets, perform statistical analyses, and make evidence-based economic decisions.

The real-world application of skills is integral to our approach. Students are encouraged to delve into various research projects, applying economic theories and econometrics skills throughout their studies. These projects span a variety of economic issues, enabling students to broaden their understanding and find their unique research interests.

To graduate, students must complete a Research Project under the supervision and mentorship of experienced faculty, allowing them to apply their accumulated knowledge and skills to craft and address a unique research question. Students undertake the complete process of conducting research, from formulating a research question to presenting findings in a structured academic paper, with some students managing to publish academic research papers in reputable peer-reviewed journals.

This focus on practical research experience equips our students with a deep understanding of applied economics and provides a solid foundation driving their success in a Ph.D. program and their professional careers. Upon graduation, our students are adept at handling complex data, conducting rigorous research, and interpreting and presenting their findings – skills that are highly sought after in academia, government, industry, and non-profit organizations.

The combination of comprehensive econometric training and real-world research experiences shapes our students into accomplished researchers. They graduate with a portfolio of research projects demonstrating their ability to contribute innovative insights to the field of economics. Whether they proceed into a Ph.D. program or a professional role, our graduates are equipped to drive economic research and policymaking, contributing to real-world decisions.

Upon completion of the MA in Applied Economics the graduate will:

• Possess advanced knowledge in the areas of microeconomics, macroeconomics and econometrics.
• Be capable of using economic theory and econometric models for assessing public policies.
• Understand and work with advanced macroeconomic and microeconomic models.
• Apply advanced mathematical and econometric techniques to analyze economic data.
• Interpret and critically evaluate articles in the economics research literature.
• Use advanced economic theory and empirical methods to evaluate public policy decisions.
• Critically analyze government economic policies.

Joint Publications with Faculty Members

1. Fakih, A., Kassab, S., & Lizzaik, Z. (2023). Employability of Syrian refugees in Lebanon: the role of legal residency. Defence and Peace Economics, 1–18.
2. Baltaji, R., Fakih, A., & Sayour, N. (2023). How did COVID lockdowns affect firms and workers? Evidence from Jordan and Morocco. Development Policy Review.
3. Boutros, P., Fakih, A., & Tarraf, M. (2023). Adapting to the New Normal: The Impact of Remote Work on Firm Performance in Jordan and Morocco. Regional Science Policy & Practice.
4. Fakih, A., & El Baba, M. (2023). The willingness to emigrate in six MENA countries: The role of post‐revolutionary stress. International Migration, 61(4), 201-220.
5. Boutros, P., Fakih, A. (2023). The Disability Employment Paradox in Developing Countries: Recent Evidence from Lebanon, Development Studies Research, 10(1), 1-16.
6. El Baba, W., & Fakih, A. (2023). COVID‐19 and consumer behavior: Food stockpiling in the US market. Agribusiness, 39(2), 515-534.
7. Fakhoury, A., Fakih, A. (2023). Government Intervention and Business Response as Determinants of Business Continuity amid COVID-19: The Case of Jordan and Morocco. International Journal of Economic Policy in Emerging Economies, 17(2), 196-219.
8. Hashem, I., & Marrouch, W. (2023). Polluting resource extraction and climate risk. Natural Resource Modeling, 36(1), 1-9.
9. Alamah, Z., AlSoussy, I., & Fakih, A. (2023). The Role of International Research Collaboration and Faculty Related Factors in Publication Citations: Evidence from Lebanon. Economies, 11(3), 90.
10. Bouri, E., Hammoud, R., & Kassm, C. A. (2023). The effect of oil implied volatility and geopolitical risk on GCC stock sectors under various market conditions. Energy Economics, 120, 106617.
11. Fakih, A., & Khayat, R. (2022). Social identity, confidence in institutions, and youth: Evidence from the Arab Spring. Social Science Quarterly, 103(5), 997-1018.
12. Baki, G. A., & Marrouch, W. (2022). Environmental taxation in the Bertrand differentiated duopoly: New insights. Resource and Energy Economics, 70, 101329.
13. Boutros, P., Fakih, A., Kassab, S., & Lizzaik, Z. (2022). Does the Number of Publications Matter for Academic Promotion in Higher Education? Evidence from Lebanon. Social Sciences, 11(10), 454.
14. Al Gharib, F., & Marrouch, W. (2022). Central air conditioning, air pollution and housing location: evidence from Lebanon. International Journal of Housing Markets and Analysis, 16(5), 979-990.
15. Boutros, P., Fakih, A. (2022). Drivers of Research Outcomes in Developing Countries: The Case of Lebanon. Economies, 10(3), 58. 
16. Fakih, A., Haimoun, N., Sleiman, A. (2022) What Drives Demand for Private Tutoring in the MENA Region? Evidence from a Youth Survey. African Development Review, 34(2), 268-279.
17. Abdo A., I., Fakih, A. (2022) Does the Legal Form Matter for Firm Performance in the MENA Region? Annals of Public and Cooperative Economics, 93(1), 205-227.
18. Fakih, A., Sleiman, Y. (2022). The Gender Gap in Political Participation: Evidence from the MENA Region. Review of Political Economy, 1-24.
19. Barakat, Z., Fakih, A. (2021) Determinants of the Arab Spring Protests in Tunisia, Egypt and Libya: What have we learned? Social Sciences, 10(8), 282.
20. Baalbaki, R., Marrouch, W. (2020). Is there a garbage Kuznets curve? Evidence from OECD countries. Economics Bulletin, 40(2), 1049-1055.
21. Fakih, A., Ghazzawi, N., Ghazalian, P. (2020) The Effects of Power Outages on the Performance of Manufacturing Firms in the MENA Region. Review of Middle East Economics and Finance, 16(3), 1-28.
22. Marrouch, W., Mourad, J. (2019). Effect of gasoline prices on car fuel efficiency: Evidence from Lebanon. Energy Policy, 135, 111001.

Graduate Placements

Many of our Applied Economics graduates got admitted into top-ranked Ph.D. programs, and secured employment opportunities in international organizations, consulting firms, NGOs and multinational corporations.

Ph.D. Placement:

• HEC Montréal, Ph.D. in Applied Economics
• University of Ottawa, Ph.D. in Economics
• Concordia University. Ph.D. in Economics
• University of Manchester, Ph.D. in Economics
• University of Houston, Texas, Ph.D. in Political Science
• University of Cyprus, Ph.D. in Economics
• Carleton University, Ph.D. in Economics
• University College London (UCL), Ph.D. in Political Science

Industry Placement:

• World Bank
• United Nations Economic and Social Commission for Western Asia (ESCWA)
• Institute of Global Prosperity – UCL
• Chevron Corporation, American multinational energy corporation
• Korn Ferry, Global organizational consulting firm
• League of Arab States
• American Near East Refugee Aid, NGO
• The Arab Council for Social Sciences, NGO

Testimonials