Master of Science in International Economics and Finance
Dean Schroeder with his students


The Master of Science in International Economics and Finance (IEF) provides students with theoretical and analytical training in the economic, financial, cultural, and managerial aspects of global business and commerce. This 37-credit program is designed for international and US students seeking to develop skills to effectively recommend strategies and policies to upper management operating in a complex global business environment. The program, which can be completed in 18 months of full-time coursework, requires study in the areas of finance, statistics, and global economics issues. Graduates of this degree program will be well-positioned to work in the profit, non-profit, and government sectors.

Economic analysts are employed to perform the following duties for employers:
  • Establish or recommend to management economic strategies, objectives, and policies for the organization;
  • Contribute to the decision making process and accomplishment of tactical plans of the institution by counseling and advising on financial and business matters;
  • Perform economic and statistical analysis on proposed projects or for policy recommendation;
  • Evaluate operations on a systematic and regular basis.


 Core Requirements

 34-35 credits


Seminar in Applied Economics

 3 credits
ECON 621

Managerial Economics

 3 credits
ECON 622
Global Macroeconomics Business Conditions
 3 credits
ECON 626
International Trade  3 credits
ECON 627
International Monetary Economics  3 credits
ICP/POLS 661 International Political Economy  3 credits
ICP 671 International Business Transactions  3 credits
ICP 678 International Commerce & Trade Law  3 credits
MBA 520 Financial Management  2 credits
Choose one of the following:
ICP 540 International Finance
 3 credits
MBA 620 Financial Analysis
 2 credits
Choose one of the following: 
ECON 525 Econometrics  3 credits
MATH 540 Statistics for Decision Making
 3 credits
Choose one of the following:
MATH 520 Game Theory
 3 credits
MATH 522
Optimization  3 credits
MATH 541
 3 credits


 2-3 credits

ECON 690 Topics in Economics
 2-3 credits
ECON 695
Independent Study
 2-3 credits
MATH 542 Mathematical Statistics
 3 credits
MATH 544 Applied Probability & Statistical Decision Theory
 3 credits
ICP 662 International Competitiveness
 3 credits
Other coursework as approved by the Dean of the Graduate School may be taken to fulfill elective credits.

Early Entry Option for VU Undergraduates

Qualified VU juniors and seniors may apply to begin graduate course work in International Economics & Finance prior to graduation.  This unique program allows students to save time and money on their graduate programs.  For more information, students should speak with their academic advisors and contact an admissions counselor at the Graduate School.

Admission Requirements:

  • Completion of one semester of college level calculus, one statistics or quantitative methods class, two semesters of introductory economics
  • Course content must include both introductory microeconomics and macroeconomics, and one introductory accounting course
  • An undergraduate GPA of at least 3.0/4.0 from an accredited university
  • Two favorable letters of recommendation
  • Official transcripts from all undergraduate institutions attended
  • Two-page essay stating goals
  • Application form with $30 fee for US students.  International students must submit all materials listed with a $50 application fee plus TOEFL scores and declaration of financial support.

Financial Considerations:

Students may be surprised to discover the affordable tuition rate at Valparaiso University. Tuition for the 2011-2012 academic year is $560 per credit hour which is highly competitive for a private institution of recognized national quality. Full-time graduate students pay a $183 general fee each fall and spring semester. Part-time graduate students pay a $100 general fee each fall and spring semester. Financial aid is available through direct and indirect students loans for students taking 6 credits or more during fall and spring semesters. Because most course offerings are scheduled for the evening, many students hold part or full-time employment during their study.

For more information about the Master of Science in International Economics and Finance:
Interested students should request an information packet from the Office of the Graduate School through our website or by e-mailing

Click here to apply online!