From Tyler Cowen, it will help you climb the government or NGO bureaucracy, sends good signals to the job market, and you will actually learn something of value.
I agree that MAs in economics are under-provided relative to the UK and Canada. But I think there are some good reasons for this. I have a few points to add:
- Any answer should consider the opportunity cost: what you could do with $100k (or more) and two years of your life.
- “Trip around the world” could be a lifetime happiness-maximizing answer. Consider it and other non-school alternatives carefully: Peace Corps, working for a foreign corporation or government abroad, and other experiences that will enrich you and set you apart.
- But if education and a career in the public service is on your mind, then my sense is that (in the US) a good policy school MA program can be better than one in economics for a few reasons:
- My sense is that the core faculty in policy schools have more incentives to teach and advise MPAs than at a top research university, where they typically prioritize PhDs and undergrads before MAs.
- You can still have core training in economics. But you will have to force yourself to take hard courses.
- My sense is you will develop a better professional network in a policy school.
Other past advice of relevance;
- Choosing the right policy school/public administration MA
- Should you do a Phd?
- How much economics should you study in college?