MS in Statistics

[hscjoe]

Hi all,

I want some opinions on getting MS in Statistics before applying to Econ PhDs.

My plan is to pursue MS in Statistics, specifically either a "MS in Applied Statistics/Data Science in Finance" or just "MS in Applied Statistics." I do have an option to pursue "MS in Mathematical Statistics," but I was told that almost no one studies this here at my school (yeah people want to get jobs after this program). I am not considering the MS in Economics here at my school because we only have online version of it. Also, our Stat department is stronger than Econ (T20s vs T50s).

So, given that I have an undergrad profile that makes me a quite strong candidate in T30~40s (like top GPA in Econ, Math&Stat minor, top GRE, etc.), by how much do you think my chances will improve in getting into higher Econ PhD programs by getting an MS from one of those programs? Of course, given that I do well (like >3.8/4.0) and do some research with Econ professors on the side. Also, which of the two~three options should I choose?

Just to further elaborate on my choice of MS program, I do not want to spend a fortune in other MS programs in Europe or Private Top universities, and I have a strong shot of getting a funding here.

[rtj]

I don't know enough about your background to make a formal recommendation as to what you should do, whether or not such a masters will help with your application, or whether an MS is preferred to a predoc. Talk to your professors. But I'd imagine that an MS in Mathematical Statistics, assuming you continue to perform well, would be viewed more favorably by admissions committees than an MS in Applied Stats or Data Science, at least for a pure Econ PhD.

[tbe]

You really should talk to your economics professors about this. They know your background and what economics programs would make sense for you. They will also be writing your letters for you, I presume. There isn't a one-size-fits-all answer to your question.