The Master of Economics is a postgraduate master's degree in economics (M.Econ., M.Ec.; also MS in Economics, MA in Economics, MCom in Economics), comprising training in economic theory, econometrics and / or applied economics. The degree may be offered as a terminal degree or as additional preparation for doctoral study, and is sometimes offered as a professional degree, such as the emerging degree, M.P.S. in Applied Economics. The program emphases and curricula will differ correspondingly. Many universities (in the United States) do not offer the master's degree directly; rather, the degree is routinely awarded as a master's degree "en route", after completion of a designated phase of the Ph.D. program in economics. The course of study for the master's degree lasts from one to two years.