For MS Theses, independent studies, and such, as well as all other courses, the following defines the amount of work expected of a student.
A credit hour is the amount of work represented in not less than one hour of classroom or direct faculty instruction and a minimum of two hours out of class student work each week for approximately fifteen weeks for one semester.
For MS thesis/independent studies, etc. a student is expected to work 3 hours per week to earn one credit hour that semester.