Learning by Doing: How Projects and Real Data Shape the BC Woods Student Experience

As technology continues to transform industries, demand for professionals skilled in AI, machine learning, and data analytics is growing across sectors. Whether you’re entering the field or advancing your expertise, mastering technical skills and applying them in real-world contexts is essential to standing out in today’s job market.

To meet this evolving demand, Boston College’s Woods College of Advancing Studies offers two forward-looking graduate programs: the Master of Science in Applied Analytics (MSAA) and the Master of Science in Applied Economics (MSAE). Both programs are designed to keep pace with rapidly changing tools and challenges by continuously updating their curricula to reflect the latest industry trends and technologies.

Combining rigorous academics with hands-on learning and collaboration with industry partners, these programs equip students with the practical skills and experience needed to compete in a data-driven economy, today and in the future.

This article provides an inside look at how these programs deliver immersive learning experiences through practicums and collaborative projects, preparing students for real-world success.

Hands-On Courses That Build Real-World Skills

Hands-on learning is at the core of both the MSAA and MSAE programs. Many required and elective courses focus on applying skills through practical, real-world exercises that prepare students to use what they learn effectively.

Courses like Data Analysis and Software Tools for Data Analysis teach students how to conduct empirical research and use industry-standard tools, including Excel, SQL, Tableau, R, and Python. In Big Data Econometrics, students take it a step further by applying supervised and unsupervised machine learning techniques to real economic datasets, gaining experience with complex data challenges.

But technical skills are only part of the equation. These courses also focus on critical thinking and clear communication, crucial abilities for any analyst. “Students learn to use statistical software and popular languages like R and Python,” says Dr. Arvind Sharma, assistant professor of the practice in applied economics. “Students are also taught how to communicate, which is an essential skill. We say if you cannot communicate [your work], you don’t have a model.”

For dual MSAA/MSAE student Artria Ray, the hands-on approach makes all the difference. “The courses are structured so that the projects we deal with have real data,” she explains, pointing to sources like the U.S. Census Bureau and FEMA. Learning how to clean, analyze, and interpret actual data gave her confidence in her ability to meet industry expectations and perform key analyst tasks from day one.

Project-Based Learning That Mirrors Real-World Work

Several courses in the MSAA and MSAE programs at Boston College’s Woods College go beyond traditional assignments, incorporating full-scale projects that reflect the kind of work graduates will face in their careers. Whether completed in teams or independently, these projects tackle real-world challenges and build essential workplace skills.

A cornerstone of the MSAA program is the Applied Analytics Project, a core course in which students design AI-based solutions to real-world business or policy problems. The course emphasizes end-to-end project management, from technical execution to communication, advisory, and presentation skills. Another MSAA core course, AI Algorithms II, teaches students to apply advanced techniques—such as deep learning and reinforcement learning—through hands-on projects in Python. These projects often address real business needs, from investment strategies to risk modeling.

In the MSAE program elective Applied Stress Testing for Economists, students build economic models based on Federal Reserve scenario analyses, culminating in a final project where they present their findings directly to experienced banking professionals. These projects offer practical modeling experience that helps students understand regulatory frameworks shaped by events like the 2008 financial crisis. In another MASE program elective, Empirical Health Economics, students work in small groups to complete and present a data-driven or empirical project that investigates a question relevant to healthcare providers, pharmaceutical companies, insurance companies, and/or government regulators. 

These projects help students develop technical and management skills while demonstrating the real-world impact of their work. “You develop projects in your courses where you really see the effects of these machine learning models on real-life data,” reports MSAE student Maxwell Davidoff.

For MSAA/MSAE student Artria Ray, one standout project was a poster presentation analyzing the economic impact of Hurricane Sandy. Contrary to expectations, her findings revealed that FEMA and NFIP payouts led to a 5–7 percent increase in residential property prices in New Jersey, an insight with implications for both investors and policymakers.

Practicum Experience Bridges Classroom and Career

Practicums in the MSAA and MSAE programs at Boston College’s Woods College provide students a chance to apply their learning in a focused, real-world setting.

For MSAA students, the practicum is built into the required Applied Analytics Project course, where they design AI-driven solutions to real business or policy challenges. MSAE students can choose a directed practicum as an elective, using economic theory and analytical tools to explore real-world issues such as labor markets, housing trends, environmental policy, or health economics.

Projects vary in scope and method. Some rely on econometric modeling to evaluate policy impacts, while others use machine learning to forecast trends or analyze population dynamics.

More than just academic exercises, these practicums provide hands-on experience that builds both technical proficiency and professional confidence, preparing students to step directly into roles in applied analytics or economics.

Industry Symposium Connects Students with Real-World Insight

The annual Analytics and Industry Symposium at Boston College’s Woods College offers students a unique opportunity to present their work, engage with professionals across industries, and gain valuable career exposure. The event bridges classroom learning with real-world application, allowing students to showcase research, receive feedback, and explore industry innovations, challenges, and career paths.

“I really liked the emphasis on taking what you learn in the classroom and applying it to a real-world scenario, where you could work with data and learn not just through test-taking or readings but actually get to apply it in projects and poster presentations like the Symposium,” says MSAE student Gina Occhipinti.

For many, it’s also the first chance to present technical work to a professional audience.  As MSAA student Trevor Petran observes, “You never want the first time that you’re talking about something that you’ve done to be in an interview.” Presenting at the symposium helps students refine their communication skills, test ideas against industry expectations, and build confidence in a professional setting.

Learn by Doing at BC Woods: Take the Next Step

As technology continues to reshape industries, the job market demands professionals who understand technical concepts—like algorithms and economic models—and can apply them to solve real-world challenges.

Hands-on learning is at the heart of Boston College Woods College’s M.S. in Applied Analytics (MSAA) and M.S. in Applied Economics (MSAE) programs. As Associate Dean for Strategy, Innovation, & Technology, and Director of the MSAA and MSAE programs Dr. Aleksandar (Sasha) Tomic emphasizes, “We require our students to do hands-on work, which inherently means that they will encounter problems beyond what we have taught in class, and they will have to deal with them on their own. I am very adamant about telling students, I cannot teach you everything about everything, but I can teach you… to figure things out on your own.” 

This problem-solving mindset, combined with practical experience, equips graduates to thrive in rapidly changing, technology-driven fields.

If you’re considering a graduate degree in applied analytics or economics, now is the time to act. Start gaining the skills and experience that set candidates apart. Apply now to the Woods College M.S. in Applied Analytics or M.S. in Applied Economics, or explore how the Dual Degree option might fit your goals. Not sure which path is right for you? Compare programs or request more information to start your journey.