You can use collections.Counter
here:
from collections import Counter
master_wordlist = ['dog', 'cat', 'hat', 'bat', 'big']
article_a = ['dog', 'cat', 'dog','big']
article_b = ['dog', 'hat', 'big', 'big', 'big']
c_a = Counter(article_a)
c_b = Counter(article_b)
print [c_a[x] for x in master_wordlist]
print [c_b[x] for x in master_wordlist]
output:
[2, 1, 0, 0, 1]
[1, 0, 1, 0, 3]