Am I Qualified to Earn a Master's Degree?

Requirements, expectations, and rigor vary considerably across programs, so you should look at particular programs to see if you meet the requirements.  To provide some guidelines consider your answers to the following questions.

1.  Did you do well in Intermediate Macro and Micro?

Master's programs often have a core of courses that includes two semesters of macro theory and two semesters of micro theory.  These courses vary in rigor across programs, put always involve the use of calculus to more rigorously develop concepts from the intermediate theory courses.  While intermediate macro and micro by themselves are not necessarily sufficient preparation for these courses, if you struggled with intermediate level courses, you will are likely to have an even harder time with the graduate level courses.

2.  How much math do you have?

You must have at least one semester of calculus.  Two is much better.  Ideally you would have some other math course such a probability, linear algebra, differential equations, or some set theory course.  While in some programs one semester of calculus may be sufficient, things are much easier if you have more math.

3.  What's your GPA?

Some programs set a minimum around 2.75.  That means that students enrolled in those programs have higher GPA's.  Even if you are in the top 5-10% of the students in UNI's program, remember that if you go to graduate school the students in your courses will also have been in the top 5-10% of their department's programs.  Also, some of them may be graduates of very good programs. 

4.  What's your GRE score?

Many programs require you to send them your GRE scores.  There are three parts to the GRE, a verbal section, an analytical section, and a quantitative section.  The maximum score on each is 800.  Some programs use the scores as input and don't require any set scores.  Others might require, for example that you have at least a combined score of 1000 on the quantitative and analytical section.  You stand a much better chance of getting admitted and of doing well if you have scores of at least 650 on both the analytical and quantitative sections.

5.  What do you want to do with your life?

Earning a master's will provide you with additional analytical and statistical training.  This training makes you better prepared for jobs in business and government that require better writing and "number crunching" skills than most people just out of bachelor's programs are expected to have.  So, your opportunities expand.  However, if you intend to get a job that requires little analytical or statistical work, you may not want to spend another year or two in school.  Since as many as half of the students enrolled in the first year sequence of PhD programs already have a master's degree, you might find it useful to first earn your master's degree if you are uncertain of you abilities and commitment to a PhD program.