About the Program

The Penn State Smeal College of Business Master of Science in Real Estate Analysis and Development (MS-READ) is a STEM-designated one-year program that provides the necessary knowledge and skills to develop original applied economic-based research on topics associated with real estate investments, securities, or markets.

Graduates of this program will be prepared to pursue doctoral education in areas such as real estate, finance, economics or business law; practice real estate research, or work in economic policy. 

Our STEM Designation 

Our STEM (science, technology, engineering, and math) designation means that MS-READ achieves the definition set forth by the U.S. Department of Homeland Security and is a testament of the quality and rigor of the program. 

The designation also allows international graduates on F-1 visas to work in the United States for an additional 24 months via the extended Optional Practical Training (OPT), totaling 36 months. 

This extended duration and designation is attractive to employers interested in hiring international students.

The Appraisal Foundation 

Graduates of the real estate analysis and development degree can take the fast track to an appraisal career.

The Appraisal Foundation (TAF) Appraisal Qualification Board (AQB), which is authorized by Congress as the source of appraisal standards and appraiser qualifications, has approved the Penn State Smeal Master of Science in Real Estate Analysis and Development degree under the Real Estate Degree Review Program.

This means that the coursework meets the required core curriculum in the real property appraiser qualification criteria. Graduates can apply their coursework toward qualifying education to become a real estate appraiser.