Master of Arts in Economics

Master of Arts in Economics

Master of Arts in Economics (MAE) degree program will directly serve the exigent need of preparing highly qualified Economists. Graduate education in Economics involves the development of analytical, methodological, and applied skills. Developing students’ understanding of macro- and microeconomics will help them to function not only in the private sector, but also in industries that interface with government and governmental agencies (i.e. energy, manufacturing, NGO, and other firms). Training in data management, macroeconomic policies, optimization problems and other subjects that are part of the Economics curriculum will help students succeed and advance in a variety of professional environments.

  • A Western graduate level economics program
  • 2-year funded all-English MA program
  • High quality internationally recognized faculty drawn from North America, Europe, Africa, and Asia
  • Advised and supported by a strategic partnership with the University of Wisconsin-Madison (USA)
  • Housing on campus with modern facilities, labs, library, and sports center
  • Funding for your education - Acceptance into the MAE comes with a monthly stipend for the entire duration of the program (only for Kazakhstani citizens)

What can you do with the MAE degree?

For students interested in doctoral-level education, a Master’s degree in Economics demonstrates advanced research and academic skills that will facilitate their admission to Ph.D. programs in Economics, Business and other social sciences. Even in its first two years, our students were placed (with full funding) to the Ph.D. programs of the following universities: Washington, Vienna, KU Leuven (multiple students), George Washington, Purdue and Wuppertal.

Armed with the MAE degree, and if you are not interested in further study (PhD), you are aiming at highly specialized roles in a variety of sectors such as

  • Professional economist careers
  • Economics careers in banking
  • Economics careers in accountancy
  • Economics careers in business and financial consultancy
  • Economics careers in the public sector, international organizations, and non-profit organizations
  • Insurance, actuarial, and data analysis careers in economics

For many highly specialized economics jobs, particularly research based and advisory roles, the MAE can be an excellent asset.

What will I gain?

MAE graduates will acquire the following academic, research, and analytical skills:

  • Solid understanding of micro and macroeconomic theory
  • Deployment of a wide array of economic models, ability to evaluate their applicability and shortcomings
  • Knowledge of statistical and analytical techniques
  • Ability to conduct econometric analyses using a variety of econometric models and statistical software packages
  • Expertise in applying theory and quantitative tools to actual economic problems
  • Ability to review and critically assess the existing bod of research in economics
  • Ability to communicate economic information and results both in a technical way to peers and in a more general way for policy recommendation and decision making


Year / Semester Fall Spring
Year 1 Microeconomics 1 Microeconomics 2
Microeconomics 1 Microeconomics 2
Statistics Econometrics
Mathematical Economics Research Methodology
Year 2 Applied Econometrics Elective 3
Elective 1 Thesis 2
Elective 2
Thesis 1

Possible career destinations:

  • business
  • government sector
  • international relations
  • law

Am I eligible?

International and Kazakhstani graduates of an accredited
undergraduate program in an appropriate field of study (law,
arts and sciences, business, engineering, etc.), with a CGPA of
2.75 out of 4.0 or above, are welcome to apply.
Applicants must demonstrate a sufficient English- language
proficiency with IELTS score of not less than 6.5, with no
sub-score lower than 6.0 or equivalent score on the TOEFL
examination or evidence of native competence.

What do I need to submit?

• Application form available online at
• CV/resume
• Personal essay
• Three confidential recommendation letters
• Notarized copy of Bachelor’s or other degree diplomas if
available, OR notarized copy of official transcript alone when
the degree diploma has not yet been received
• Valid GRE test report (preferred)
• Notarized copy of passport or identity card
• Language proficiency test reports (IELTS or TOEFL) valid as
of the date of application (for non-native English speakers)

First round of online registration (early admissions) to the Master’s programs at the Nazarbayev University is open.

Online registration periods:

Early admission: from November 4, 2019 until February 16, 2020 (inclusive) without paying a registration fee.

Regular admission: from February 17, 2020 until May 12, 2020 (inclusive). Registration fee payment is required. The amount of the application fee depends on program.