MS in Pharmaceutical Economics and Policy
The USC Pharmaceutical Economics and Policy master's program is conducted collaboratively with the Department of Economics, the Department of Preventive Medicine, and the Public Policy program of the USC School of Policy, Planning, and Development. Master's students are trained to use pharmacoeconomics and assessment techniques in practical decision-making environments such as hospital pharmacies, managed-care pharmacies, third-party payers and government agencies.
A distinguishing characteristic of the USC Pharmaceutical Economics and Policy master's program is the degree to which students are actively engaged in publishable research, either as the lead author or as a secondary author in collaboration with a faculty member.
Admission
Admission Requirements
Graduates with PharmD, MD, MPH or bachelor's degrees in economics, statistics, public health, health services research and other related fields are encouraged to apply for the MS program. Individuals with experience in the health care field are particularly welcome as financial support via industry fellowship generally requires prior clinical degrees from U.S. institutions.
The department's Graduate Review Committee for the master's program considers applications based on the following conditions:
Prerequisites
Students are encouraged to have completed upper-division courses in statistical methods, calculus and microeconomics prior to entering the program. Specific requirements are available upon request.
Graduate Record Examination (GRE) Score
A minimum combined GRE score of 300 (verbal and quantitative) is encouraged.
Overall Grade Point Average (GPA)
A minimum GPA of 3.0 (A=4.0) is required. Special attention may be given to the grades achieved most recently in courses relevant to our program (e.g., statistics, economic analysis, health economics and quantitative analysis).
Letters of Recommendation
Three reference letters from faculty or supervisors with knowledge of the applicant's academic performance and intellectual capability are required. The letters should provide a clear assessment of the applicant's experience in the health care field, analytical ability, motivation, creativity and potential for future advancement.
TOEFL Scores for International Students
A minimum of TOEFL score of 550 for the paper-based test, 213 for the computer-based test, 100 for the IBT test (with none of the four sections below 20) or a 7 on the IELTS (International English Language Test System) is required for admission. Higher scores are given priority for consideration of teaching and research assistantship should funds for this form of financial support become available.
Deadline for Submission of Application Materials
The admission application deadlines are January 15 for the fall semester. However, applicants seeking financial support should apply as early as possible.
Graduate Program Online Application
Financial Aid
A limited number of financial-aid packages offered through the USC School of Pharmacy may be awarded on a competitive basis to highly qualified applicants with clinical degrees from U.S. institutions. Other limited sources of support, including the department's research funds, may be available depending upon external grants awarded.
For more information, please contact:
Dr. Jeffrey McCombs
Director of Graduate Studies
Titus Family Department of Clinical Pharmacy and Pharmaceutical Economics + Policy
University of Southern California
School of Pharmacy
Schaeffer Center for Health Policy and Economics
3335 S. Figuerora Streeet, Unit A
Los Angeles, CA 90007
Phone: (213) 821-7941
FAX: (213) 740-3462
jmccombs@usc.edu
Requirements for Degree Completion
Academic Content
The program requires basic coursework in economics, epidemiology, research design and data analysis, and policy analysis. Upon the completion of this foundation, candidates then continue with coursework in health economics, pharmaceutical economics and pharmaceutical policy. Courses in each of these areas encourage students to develop projects in which pharmaceutical economics and policy skills can be applied. In many cases, candidates will be expected to work closely with faculty by participating in collaborative research projects.
MS Requirements
The MS in Pharmaceutical Economics and Policy requires 36 units of graduate-level courses. This program has been designed to allow a full-time student to complete the degree within two years, although part-time students can take as long as five years. Normally, a full-time graduate student course load is three full courses or their equivalent per semester, with a four-course maximum.
Grade Requirements
A grade point average (GPA) of at least 3.0 (on a scale of 4.0) must have been achieved on all graduate work, as required by the USC Graduate School.
Courses Required
The following courses are recommended for completion of the MS in Pharmaceutical Economics and Policy. In order to satisfy the econometrics requirement, students can choose either ECON 414 or ECON 581, depending on their background in econometrics.
Economics:
- ECON 414 Introduction to Econometrics OR ECON 581 Econometric Methods (4 units)
- ECON 500 Microeconomics Analysis of Policy OR PPD 501 Public Sector Economics (4 units)
- PM 512 (elective) Introduction to Epidemiology and Demographic Methods (4 units)
Research and Methods Policy Analysis:
- PMEP 509 Research Design (4 units)
- PM 511A Data Analysis (4 units)
Pharmaceutical Economics and Policy:
- PMEP 519 Survey Research and Quality of Life (4 units)
- PMEP 529 Probability and Preferences (4 units)
- PMEP 538 Pharmaceutical Economics (4 units)
- PMEP 539 Economic Assessment of Medical Care (4 units)
Total Credits Required: 36
Research Paper Preparation
The student is required to complete a research paper that demonstrates the candidate's ability to apply pharmaceutical economics and policy analysis skills in a challenging topic area. The topic for the paper will be negotiated with the student's faculty advisor during the first year of study.
Course Offerings
- For Pharmaceutical Economics and Policy (PMEP) courses, see School of Pharmacy.
- For Preventive Medicine (PM) courses, see Keck School of Medicine.
- For Public Administration (PPD) courses, see the School of Policy, Planning and Development.
- For Economics (ECON) courses, see the College of Letters, Arts and Sciences.
Schedule of Classes
For course availability for the current year see the Schedule of Classes.
Frequently Asked Questions
Q: I took the GRE exam some time ago. Are my scores still valid for admission to this program?
A: GRE scores are good for two years. Additional information about GRE scores can be obtained from the Graduate Student Affairs Office at pharmgrd@usc.edu.
Q: I have not taken any economics before. Do I have to have microeconomics before I apply?
A: You are encouraged to have completed an upper-division course in microeconomics for admission to the program. You should also have taken calculus and have a research design background.
Q: Do you offer any fellowships or support to students in the master's program?
A: A limited number of fellowships are assigned in January of each year for the class that will enter the following September. Most fellowships require a clinical degree from a U.S. or Canadian university.
Q: Can the master's program be used as stepping stone for the PhD program?
A: The master's program can be used to start the PhD process; however if you are interested in the PhD program, it is recommended that you apply for it directly. The master's program is oriented toward the application of pharmacoeconomic analytic methods, while the PhD program is oriented toward the development of new theory and empirical research in the field.
Q: Are there a lot of PharmD students in the master's program?
A: Most entering students have a PharmD or other clinical degree.
Q: What are the job prospects after graduation?
A: Most alumni work in either the pharmacy industry, consulting or managed care.
Q: I have a strong research background. Will that help me in the program and in my future career?
A: Your research background would provide you with some excellent credentials, which should help you both in the program and after graduation.
Q: Is student funding available for those beginning the program in the spring?
A: Students are not admitted in the spring semester.
Q: Does the admissions committee accept both GRE and GMAT scores?
A: No, the committee only accepts GRE scores.
Q: Do students have opportunities for internships?
A: Students who are not on industry-sponsored fellowships are frequently placed in internships with managed care and drug companies.
Q: Do you have an extension program where I can just take one or two classes before taking my GRE to see if I really like the program?
A: Although the School does not have an extension program, students are welcome to take a couple of classes before officially enrolling. You would be able to transfer the credits (up to 12) into the MS program (as well as the PhD program).
Q: Would it be possible to use any of the MS classes toward a PhD?
A: Twenty courses in the MS program are transferable to the PhD in Pharmaceutical Economics.
Q: What is the difference between your MS and PhD programs?
A: The MS is more applied, while the PhD is more theoretical in orientation. The PhD takes four to six years to complete while the MS takes two years to complete as a full-time student.
Q: Do you have minors in the MS program (e.g., epidemiology, biostatistics?)
A: The program does not include any minors, but most students take additional coursework in biostatistics, which is taught in the same building.
Current Students and Graduates
The Pharmaceutical Economics & Policy Program has the largest pharmacoeconomics alumni network in the nation. This network provides extensive industry contacts for research, real-world experience and job networking.
Students annually are recognized at the International Society for Pharmacoeconomics and Outcomes Research (ISPOR) meeting. USC student have won at least one "Best Student Poster Award" or "Best Student Poldium Award" in each of the last 10 years.
Current Students in Residence
MS Program
- Henry Lee, Takeda Fellow
- Yawen Jiang
Alumni
2011
- Sara Zolfaghari, PriceSpective
- Karen Chu, VA Los Angeles
- Jerry Chang, Pharmedquest
2010
- Phil Wiegand, Pharmerit
- Danielle Colayco, Allergan
- Nazia Rashid, Kaiser Permanente
- Nhu (Josephine) Tran, VA Long Beach
2008
- I-Ning (Elaine) Cheng, MedPartners
- Flavia Ejzykowicz, admitted to the PhD program
- Hsing-Yen (Monica) Ho, Pharmaceutical manufacturer in Taiwan
- Irwin Tran, Genentech
- Jennifer Wang, Wellpoint
- Zhengyi (Jenny) Zhou, admitted to the PhD program
2006
- Gustavo Aranda, MS, Takeda Pharmaceuticals, Inc
- Lauren Lee, MS, Eli Lilly
- Thomas Marshall, MS, Abbott Labs
- Pamela Vo, MS, Abbott Laboratories
- Sharon Wang, MS, MedImpact
2004
- Arie Barlev, MS, Amgen
- Patrick Bonnet, MS, GE Healthcare
- Sangeeta Narayan, MS, Baxter Bioscience
- Vashali Patel, MS, Allergan
- Juliana Setyawan, MS, Shire Pharmaceuticals
- James Spalding, MS, Astellas
- Ivy Mihara, MS, VA-Long Beach
- Yanni Fan Yu, MS, Boehringer Ingelheim
2002
- Lida Etemad, MS, Ingenix
- Pankaj Patel, MS, GE Healthcare
- Bimal Patel, MS, Med Impact
- Kimberly Sterling, MS, Eli Lilly
2001
- Morgan Bron, MS, Takeda Pharmaceuticals, Inc
- Robert Charles, MS, Prescription Solutions
- Kristina Chen, MS, Analysis Group
- Jackie Wagner-Letourneau, MS, Sav-on Drugs
- Elaine Yu, MS, Genentech
2000
- Michael Cattaneo, MS, Pfizer
- Anna Purdum, MS, Genentech
- Yongtae Oh, MS
- Rebecca Cheng, MS, Private Consulting
- Hung Du, MS, Mortgage Broker
- Caroline Burk, MS, Consulting
- Michelle Ping-Luo, MS, Baxter Bioscience
1999
- Ramon Lyu, MS, Merck-Shanghai PRC
- Angelo Mathes, MS, Consulting
- Annie Ogostalick, MS, Abbott Laboratories
1998
- Rita Hui, MS, Kaiser Permanente
- Kevin Livengood, MS, Wellpoint
- Rima Totah, MS, Synergy Med. Comm., Inc
- T. Jeffrey White, MS, Wellpoint
- Julie Hutchinson, MS, Kaiser-San Diego
- Trisha Nguyen, MS, VA-West Los Angeles
1997
- Karl Barnum, MS, retired
- Craig Cheetham, MS, Kaiser Permanente
- Jennifer Sung, MS, Norvatis
- Francesca Venturini, MS, University Hospital-Italy
1996
- Karen Bailey, MS, Centocor, Inc
- Robert Gerber, MS, Pfizer
- Robert Popovian, MS, Allergan
