CBE Announces New Master’s Program in Economic Analytics

The College of Business and Economics is proud to announce the approval of a new M.S. in Economic Analytics at Towson University. In this master’s program, students will use economic theory, econometrics and data science to understand how laws, policies, and other interventions impact people’s lives. The program will soft launch  in Fall 2023, allowing current Towson University undergrads to take courses in the master’s program as part of an accelerated bachelor’s to master’s program. The full launch will take place in Fall 2024, with applications opening September 15, 2023, at which point anyone will have the opportunity to apply for the program, including international students. 

Dr. Finn Christensen, professor in the Economics Department and the program director, took the lead in bringing the program to fruition, with the support of Dr. Melissa Groves and Dr. Herbert Zhao. TU’s program differs from those offered by other universities in the region. “Our economics program is the first in the area to combine data science and econometrics as part of the standard curriculum,” Dr. Christensen said.“The program can be completed in 16 months whereas most programs in the area are 2-year programs.”

The program will not only present opportunities for students in the area, but also faculty. While existing faculty can teach all the courses in the program, this will take them away from existing responsibilities, so up to two new professors will be hired to fill the gap.

It will take students up to 16-months to complete the 33 credit hours required to graduate from the program. The content will focus on applied microeconomics, with an emphasis on data analysis. The program will be offered face-to-face and full-time attendance is optimal – however, the program can be completed on a part-time basis. Students who have recently graduated with an undergraduate degree are encouraged to consider the new program, particularly those in majors such as Economics, Business Administration, Accounting, or any quantitative major such as computer science, math or physics. Students will acquire job-relevant skills such as Stata, R, and Python without needing prior knowledge in the topics. Mid-career professionals and those seeking to later complete a Ph.D. in economics or a related field are welcome. The career prospects upon graduation include roles as a data analyst, an economist, or a statistician. These positions are well paid with average salaries in excess of $80K and the Bureau of Labor Statistics reported median pay in 2019 for those with a masters degree in Economics of $105,020. Due to the fact the program is a STEM-designated degree, students on an F-1 visa will be eligible for up to 3 years of OPT after graduation through the STEM OPT extension. For domestic students, this designation signals rigorous preparation to potential employers.

“We’re very excited to provide students with the opportunity to earn a STEM designated MS degree in Economic Analytics at TU,”  said Dr. Judy Harris, Interim Dean in the College of Business and Economics. “This is a growing field and with hands-on application of data analysis techniques like the modeling of big data and machine learning, graduates will be well suited to meet the evolving needs of employers in the region.”

Building with sunset background

CBE earns extension of AACSB accreditation

AACSB International — The Association to Advance Collegiate Schools of Business (AACSB) — accreditation is the highest seal of quality business schools can receive.

Towson University’s College of Business & Economics (CBE) has earned extension of accreditation for its business and accounting programs from AACSB International — The Association to Advance Collegiate Schools of Business (AACSB).

This accreditation is the highest seal of quality business schools can receive and recognizes continuous improvement. TU is part of the less than six percent of schools that are AACSB International-accredited and the less than one percent that are accredited in both academic programs. CBE is one of only four schools in Maryland to hold both accreditations.

AACSB accreditation is the longest-standing, most-recognized form of specialized accreditation business programs can receive worldwide, yet only 949 business schools in 59 countries and territories currently have AACSB accreditation. Of those institutions, only 192 hold the additional, specialized AACSB accreditation for their accounting programs.

AACSB Accredited Logo
TU is part of the less than six percent of schools that are AACSB International-accredited and the less than one percent that are accredited in both academic programs.

Earning this dual distinction requires schools to meet rigorous standards for academic programs, as well as faculty qualifications and scholarship that are designed to challenge educators to pursue excellence. To maintain accreditation, schools must demonstrate how they meet the standards, and strive for continuous improvement, every five years through a peer review process.

In the most recent accreditation maintenance cycle, a team of outside reviewers commended TU for its emphasis on experiential learning, academic advising and career services for its students, and engagement of its advisory groups.

CBE Interim Dean, Dr. Judy Harris

“This extension of accreditation from AACSB is confirmation of CBE’s commitment to excellence and of the high-quality education we provide,” said Interim Dean Judy Harris. “In particular, the peer-review team commended CBE for the depth and quality of faculty engagement and of student-faculty interactions, the dedication of CBE’s Student Academic and Career Advising unit, the strength of our assurance of learning processes, and the college’s significant social impact as measured by faculty intellectual contributions. I am so proud of the hard work of CBE faculty and staff that made this achievement possible.”

AACSB-accredited schools are recognized worldwide by top employers, and many top, global corporations only recruit from AACSB-accredited schools. Achieving AACSB accreditation is a rigorous process that assesses a school’s ability to perform in critical areas — such as teaching, research, curricula development and student learning— and ensures the programs are challenging and teach skills that give a distinct advantage in the real world.

The mission of the College of Business and Economics is to develop high-quality, innovative, and inclusive programs and resources, connect individuals to opportunities by applying theory to practice in curricular, co- curricular and scholarship activities, and transform students into professionals who will have a positive societal impact within Maryland and beyond.

The peer-review team commended CBE for the depth and quality of faculty engagement and of student-faculty interactions, the dedication of CBE’s Student Academic and Career Advising unit, the strength of our assurance of learning processes, and the college’s significant social impact as measured by faculty intellectual contributions.

Over the review period of the last five years, CBE has seen several accomplishments in program creation/revision, faculty research/participation and student impact. Highlights include:

  • Launching new combined B.S./M.S. programs in BSAP/Supply Chain Management and Business Administration/Marketing Intelligence
  • Launching new minors in Accounting, Business Analytics, and Business Law
  • Launching a certificate in Entrepreneurship, the first undergraduate certificate at TU
  • Faculty publishing 264 peer-reviewed journal articles with 47% in A* or A outlets
  • Providing six case-competitions in which 5,066 students participated
  • Mentoring CBE students in the completion of 3,558 credit-based internships

TU first received AACSB accreditation for its business administration program in 1992. In 1994, the accounting department also received AACSB accreditation. In 2008, the business administration program received its maintenance of accreditation. The accounting department followed suit in 2010. In 2013, 2018 and 2023, both programs received five-year extensions.