The graduate programs in economics at The University of Michigan offer preparation for the wide range of careers now open to professional economists in academic, business, and government sectors. The Department's faculty and graduates have long been involved in leading developments in research and teaching and in governmental economic policies. The graduate programs are designed to continue this tradition, by providing their students with rigorous analytical and practical training. One of two graduate-level programs offered by the Department, is the Master of Arts degree in Applied Economics (MAE). The other is the Ph.D. Program. The Master's program in Applied Economics, as the name implies, is a policy-oriented program, with emphasis on the application of economic tools and concepts to practical problems arising in a variety of fields. Students in this program ordinarily require one and one-half years to complete their work. This degree program is designed for students who wish to apply the theory and techniques of economics to the analysis of practical problems in a variety of fields. Unlike the Master of Arts Degree in Economics, the MAE is NOT an intermediate step to the University of Michigan Economics Ph.D Program.