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Self-Directed Online Master's Degree in Economics & Finance

A comprehensive 2-year program built from top university courses available on YouTube and OpenCourseWare platforms.


πŸ“š Program Overview

Duration: 24 months (2 years)
Time Commitment: 15-20 hours per week
Level: Master's degree equivalent
Focus Areas: Economic Theory, Econometrics, Public Economics, Finance, Behavioral Economics


🎯 Learning Objectives

By completing this program, you will:

  • Master core economic theory (micro, macro, game theory)
  • Develop advanced econometric and statistical analysis skills
  • Understand modern financial markets and quantitative finance
  • Apply behavioral economics to real-world problems
  • Conduct independent economic research
  • Build proficiency in R, Python, STATA, and financial modeling tools

πŸ“‹ Table of Contents


πŸ—οΈ Program Structure

Semester 1: Foundations (Months 1-4)

Core Theory

Supplementary

Skills Focus: Economic reasoning, mathematical foundations, strategic thinking


Semester 2: Quantitative Methods & Econometrics (Months 5-8)

Critical - Econometrics

Behavioral Economics

Supporting

Skills Focus: Statistical analysis, causal inference, R programming, research design


Semester 3: Advanced Theory & Public Economics (Months 9-12)

Public & Welfare Economics

Money & Banking

International Economics

Skills Focus: Policy analysis, welfare economics, institutional economics


Semester 4: Finance Foundations (Months 13-16)

Financial Markets

Corporate Finance

Skills Focus: Asset pricing, portfolio theory, corporate valuation, risk management


Semester 5: Advanced Finance & Applications (Months 17-20)

Quantitative & Mathematical Finance

Emerging Topics

Skills Focus: Derivatives pricing, computational finance, Python for finance


Semester 6: Applied Economics & Capstone (Months 21-24)

Development & Growth

Capstone Project Choose one:

  1. Independent research paper applying econometric methods
  2. Policy analysis white paper with original data analysis
  3. Financial modeling project with real market data
  4. Replication of published economics paper

Skills Focus: Research synthesis, original analysis, professional presentation


πŸ“– Supplementary Resources

Elective Courses (Take 3-5)

Labor Economics

  • Search MIT OpenCourseWare for labor economics courses
  • Ashley Hodgson's YouTube channel

Environmental Economics

  • MRU environmental economics materials

Economic History

  • American Economic History (UC Berkeley - Martha Olney)
  • MRU History of Economic Thought

Advanced Topics

  • Behavioral Finance videos
  • International Finance topics
  • Stanford Principles of Economics (John Taylor)

Essential YouTube Channels

  1. Econometrics Academy - Master's & PhD econometrics
  2. Ben Lambert - 500+ videos on econometrics and Bayesian statistics
  3. Mark Burkey - Statistics & Econometrics with R
  4. Marginal Revolution University (MRU) - Complete economics course library
  5. Ashley Hodgson - Behavioral economics & game theory

Recommended Textbooks

Econometrics

  • Jeffrey Wooldridge - Introductory Econometrics: A Modern Approach
  • A.H. Studenmund - Using Econometrics: A Practical Guide

Microeconomics

  • Hal Varian - Intermediate Microeconomics
  • Mas-Colell, Whinston, Green - Microeconomic Theory (advanced)

Macroeconomics

  • N. Gregory Mankiw - Macroeconomics
  • David Romer - Advanced Macroeconomics

Finance

  • Jonathan Berk & Peter DeMarzo - Corporate Finance
  • John Hull - Options, Futures, and Other Derivatives

πŸ’» Software & Tools

Statistical & Econometric Analysis

  • R (primary) - Free, industry standard for econometrics
  • STATA - Economic analysis standard (university license may be available)
  • GRETL - Free open-source alternative (used in Ben Lambert's course)
  • Python (pandas, statsmodels, scikit-learn) - Data science applications

Financial Modeling

  • Excel - Basic modeling and valuation
  • Python (numpy, scipy, matplotlib) - Quantitative finance
  • MATLAB (optional) - Some MIT courses use this

Data Sources

  • FRED (Federal Reserve Economic Data)
  • World Bank Open Data
  • OECD Statistics
  • Yahoo Finance / Alpha Vantage (financial data)
  • Quandl

πŸ“… Study Schedule

Weekly Structure (15-20 hours/week)

Monday-Wednesday: Video Lectures

  • 3-4 lectures (1-2 hours each)
  • Take detailed notes
  • Review slides and supplementary materials

Thursday-Friday: Problem Sets

  • Complete assigned problem sets (4-6 hours)
  • Work through textbook exercises
  • Practice coding assignments

Saturday: Reading & Software

  • Textbook reading (3-4 hours)
  • Software tutorials and practice (2-3 hours)

Sunday: Review & Discussion

  • Review week's materials
  • Participate in online forums (Reddit r/economics, Stack Exchange)
  • Prepare for next week

Semester Schedule

Weeks 1-12: Core content delivery
Week 13: Midterm review and exam
Weeks 14-15: Buffer for catching up
Week 16: Final exam and project


πŸŽ“ Certification Options

Free Certificates

  • MRU - Free certificates for all courses
  • MIT OpenCourseWare - Self-certification (unofficial)

Paid Certificates (Optional)

  • Coursera - Specialization certificates ($39-79/month)
  • edX - Verified certificates ($50-300)
  • DataCamp - Programming proficiency ($25/month)

Professional Certifications (Post-Program)

  • CFA (Chartered Financial Analyst)
  • FRM (Financial Risk Manager)
  • Certified Economics Educator

πŸ“Š Assessment & Progress Tracking

Self-Assessment Methods

For Each Course:

  • Complete all video lectures
  • Finish all problem sets (aim for 80%+ correct)
  • Pass midterm exam (create your own or use provided)
  • Pass final exam
  • Complete course project (if applicable)

Semester Checkpoints:

  • Write a 2-page synthesis paper at end of each semester
  • Create a portfolio of your best problem sets and projects
  • Maintain a learning journal

Capstone Requirements:

  • 20-30 page research paper
  • Oral presentation (record yourself)
  • Peer feedback (share in economics communities)

πŸ“ Prerequisites

Minimum Requirements

  • Calculus I & II (derivatives, integrals, optimization)
  • Basic statistics & probability
  • Linear algebra (matrices, vectors)
  • Comfortable with mathematical notation

Recommended Background

  • Bachelor's degree in economics, mathematics, or related field
  • Some programming experience (any language)
  • Basic understanding of economic concepts

Pre-Program Preparation (if needed)


🎯 Career Outcomes

This program prepares you for roles in:

  • Economic research and policy analysis
  • Financial analysis and portfolio management
  • Data science and analytics
  • Government and international organizations
  • Consulting (economic and management)
  • PhD programs in Economics (with strong performance)

πŸ“ž Community & Support

Online Communities

  • Reddit: r/economics, r/econometrics, r/finance
  • Stack Exchange: Economics, Quantitative Finance
  • Discord: Economics & Finance study groups
  • Twitter/X: Follow #EconTwitter

Study Groups

  • Form virtual study groups on Discord/Slack
  • Join existing economics reading groups
  • Participate in Zoom study sessions

πŸš€ Getting Started

Week 0 Checklist

  • Install R and RStudio
  • Set up Python environment (Anaconda)
  • Create YouTube playlists for all courses
  • Download course syllabi and problem sets
  • Join online communities
  • Set up note-taking system (Notion, Obsidian, or similar)
  • Create study calendar
  • Find accountability partner or study group

First Semester Focus

Start with MIT 14.01 Microeconomics - this is your foundation for everything else.


πŸ“„ License & Attribution

This curriculum is compiled from publicly available educational resources. All course materials remain the property of their respective institutions and creators. This README is shared under Creative Commons CC BY 4.0.


πŸ™ Acknowledgments

Special thanks to:

  • MIT OpenCourseWare
  • Yale Open Courses
  • Marginal Revolution University
  • All professors and creators who made their content freely available

Version: 1.0
Last Updated: November 2025
Maintained by: [Your Name]


πŸ’‘ Tips for Success

  1. Consistency over intensity - Regular daily study beats cramming
  2. Active learning - Do the problem sets, don't just watch videos
  3. Connect concepts - See how micro, macro, and econometrics relate
  4. Apply immediately - Use real data from day one
  5. Teach others - Start a blog or YouTube channel explaining concepts
  6. Build portfolio - Document all projects on GitHub
  7. Network - Engage with the economics community online
  8. Stay current - Read The Economist, FT, or Bloomberg weekly

Ready to begin? Start with Semester 1, Week 1: MIT 14.01 Microeconomics Lecture 1!

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