Curious about how Boston College’s MS in Applied Economics (MSAE) program director describes economics? Listen to Dr. Aleksandar (Sasha) Tomic describe the meaning of economics in his own words.

Masters of Applied Economics program

When asked, how would you explain the Masters of Applied Economics program? Dr. Tomic explained economics as the science of business. As physics is paired with engineering, economics is the foundation of a business. You cannot merely have one without the other. Economics is a set of principles on which everything in business is based.

Economics is defined as the study of how people utilize resources to meet human needs. Economists explore incentives and pricing, earnings and employment, investments, and trade, among many things. As Dr. Tomic explains in the video, economics is the most versatile discipline, and the framework of economics can be applied to nearly every aspect of human behavior and decision-making.

The MSAE program at Boston College

The MSAE program, which is part of the Woods College of Advancing Studies at Boston College, goes beyond the theories discussed in the classroom and provides an economics education that can be directly applied to the real world. The program focuses on career readiness by combining analytical rigor and practical application to give students the knowledge, skills, and experiences needed to excel in the data-driven business world.

Students obtain firsthand experiential learning experience as part of Boston College’s commitment to going beyond the parameters of typical economic programs. “Through my own experiential learning, I have realized that by engaging students through this process, learning accelerates, and retention improves,” said Letizia Afinito in a Boston College article, a professor in the Woods College of Advancing Studies.

The MSAE program was designed in close collaboration with the industry’s economic leaders who represent many different sectors, including finance, healthcare, insurance, and the public sector. The strong connection that the MSAE program has with these leading employers has provided the next generation of employer-aligned education, which has resulted in a unique aspect of the Woods College Program at Boston College, the Advisory Board of Industry Leaders. The board co-operates with the school to help shape the program’s top-tier curriculum and is a foundational part of the “employer-aligned education,” which facilitates student internships.

Graduates of Boston College’s MSAE program are prepared for a variety of careers in fields where there is a demand for analytical precision and significant proficiency. These industries include educational services, financial services, chemical manufacturing, social assistance, and many others.