Graduate School Bulletin - Spring 2006

ECONOMICS

Admission Requirements

Any student who is a graduate of a fully accredited institution of higher learning is eligible to apply for admission to the graduate program in economics. The final decision on matters of admission is made by the Graduate Studies Committee of the Department of Economics and is based on the student's academic profile and prospects for successful completion of the curriculum.

Minimum admission requirements are an undergraduate grade point average of 2.75, a graduate grade point average of 3.0, if applicable, and a minimum combined score of 1000 on the verbal and quantitative sections of the GRE general test. However, meeting the minimum requirements does not guarantee admission.

After completing the application requirements for the Graduate School, prospective graduate students should also submit the following materials directly to the Director of Graduate Studies of the Economics Department:

1. A resume

2. A one-to-two page personal essay about why you want to attend graduate school in economics

3. Two or three confidential letters of recommendation

Along with the other application materials, the information in these items will be considered by the Economics Department in its admission and financial aid decisions.

Master of Science

Objectives

The M.S. in Economics is primarily for students who wish to have flexibility in a program of advanced study in economics. This degree program provides preparation for employment as an undergraduate teacher of economics in community colleges and as a researcher for government, business, and other organizations. The program can be structured to prepare a student for further graduate work in economics and related fields, but it is also suitable for students with strong interdisciplinary interests.

Degree Requirements

The recommended minimum prerequisite undergraduate preparation includes 6 hours of intermediate theory, 6 hours of statistics, and 6 hours of calculus. These can be taken in the program as additional work.

Requirements for the M.S. in economics are:

1. A minimum of 30 hours of graduate credit courses.

a. The student must satisfactorily complete the following courses:

ECO 590 Introduction to Quantitative Economics I
ECO 601 Advanced Microeconomic Theory
ECO 602 Macroeconomic Theory
ECO 603 Research Methods and Procedures
ECO 703 Introduction to Econometrics I

The student must also satisfactorily complete either:

ECO 701 Neoclassical Microeconomic Theory
or
ECO 702 Advanced Macroeconomic Theory

and one course in an elective area of the Ph.D. program.

b. courses taken outside of the Department of Economics must be approved by the Director of Graduate Studies to count toward the 30 hour requirement.

2. Successful completion of a final examination.

3. Minimum average of grade B (a GPA of 3.0) in all courses attempted for graduate credit after being admitted to Graduate School. Students obtaining six quality points below a B average will be dropped by the department.

Doctor of Philosophy

Objectives

The Ph.D. program is designed to enable the graduate to contribute to the advancement of economics. The program is also aimed at producing graduates who are qualified to teach, as well as engage in private sector and governmental research and consulting.

To attain these objectives, the program is structured to provide the student with the appropriate knowledge, understanding, skills and abilities, including:

1. An understanding of economic theory.

2. Skill in the use of quantitative techniques, specifically mathematics and statistics.

3. Specialization in a limited number of areas.

4. A knowledge of the broad social and political background of the economic environment.

5. Experience in the development of research projects throughout their entire program.

6. Research and writing skills that would lead to the publication of original research.

7. Competence in communicating economic knowledge to broad and diverse audiences.

Degree Requirements

The recommended minimum undergraduate preparation includes 6 hours of intermediate economic theory, 6 hours of statistics, and 6 hours of calculus.

Work for the degree of Doctor of Philosophy in Economics must conform to the general requirements of the Graduate School. The requirements for the degree are:

1. Economic Theory. The student must demonstrate competence in economic theory as demonstrated by passing a departmental written examination in economic theory. This examination will be given twice a year, at the beginning of the spring semester and the eight-week summer session. Students failing the examination will be given a second attempt; those failing on the second attempt will be dropped from the program.

Minimum preparation for the written examination in economic theory can be achieved by taking the following core courses:

ECO 601 Advanced Microeconomic Theory
ECO 602 Macroeconomic Theory
ECO 701 Neoclassical Microeconomic Theory
ECO 702 Advanced Macroeconomic Theory

In addition the student must satisfactorily complete ECO 704.

2. Statistics/Econometrics. The student must demonstrate competence in the area of statistics and econometrics. This competence may be demonstrated by satisfactory performance in the following courses:

STA 424G Probability and Distribution Theory
or
ECO 603 Research Methods and Procedures
ECO 703 Introduction to Econometrics I
ECO 706 Introduction to Econometrics II
or by passing a special examination.

3. Elective Areas. All Ph.D. students must choose two fields of study approved by the student's Advisory Committee. The two fields may be chosen from the following:

Environmental/Health Economics
Industrial Organization
International Economics
Labor Economics
Monetary Economics
Public Economics

Minimum course preparation for each field shall consist of at least two courses as determined by the student's Advisory Committee. In addition to the two chosen fields, the student is encouraged to take elective courses in other areas of economics, such as econometrics or economic theory, or in other disciplines such as Agricultural Economics, Finance, Marketing, Management, Mathematics, or Public Administration.

4. Supporting Work. At least nine hours of supporting course work must be selected. These courses must be approved by the student's Advisory Committee. This supporting work will allow the student to pursue more intensive study of one or both of the two chosen fields, or to pursue courses in other fields of economics. The supporting work cannot consist of 400 or 500 level courses, ECO 610 or ECO 611, ECO 652, or any of the core courses in economic theory (ECO 601, ECO 602, ECO 701, ECO 702, ECO 704, ECO 705) or econometrics (ECO 603, ECO 703, ECO 706).

5. Grades. Minimum average of grade B in all courses attempted for graduate credit after being admitted to the Graduate School. Students obtaining six quality points below a B average will automatically be dropped by the department.

6. Qualifying Examinations.

a. Written Examination:

The written examination must be taken in the student's two elective fields as part of the requirements for candidacy for the Ph.D. degree. This examination is given twice a year, at the beginning of the spring semester and at the beginning of the eight-week summer session. The written examination is prepared and graded by specialists in the respective fields. In the event that the student fails one or both parts of the examination, the student's Advisory Committee determines the conditions which must be met before another examination is given. The minimum time between examinations is four months. Two failures to pass the written examination constitute failure of the qualifying examination.

b. Oral Examination:

After passing the written qualifying examination, the Director of Graduate Studies will, on the advice of the Advisory Committee, schedule through the Graduate School an oral examination which will be administered by the Advisory Committee. The examination will ordinarily consist of the presentation and defense of a dissertation proposal.

7. The Ph.D. Dissertation. The dissertation will be based on original research on a significant topic. The dissertation will be defended in an oral examination

GRADUATE COURSES

ECO 450G THE ECONOMICS OF POVERTY AND WELFARE PROGRAMS (3)

ECO 465G COMPARATIVE ECONOMIC SYSTEMS (3)

ECO 473G ECONOMIC DEVELOPMENT (3)

ECO 491G APPLIED ECONOMETRICS (3)

ECO 590 INTRODUCTION TO QUANTITATIVE ECONOMICS I (SAME AS AEC 590) (3)

ECO 601 ADVANCED MICROECONOMIC THEORY (3)

ECO 602 MACROECONOMIC THEORY (3)

ECO 603 RESEARCH METHODS AND PROCEDURES IN ECONOMICS (3)

ECO 610 MANAGERIAL ECONOMICS (3)

ECO 611 MONEY, FINANCIAL MARKETS, AND THE ECONOMY (3)

ECO 652 PUBLIC POLICY ECONOMICS (SAME AS PA/HA 652) (3)

ECO 653 HEALTH ECONOMICS (SAME AS PA/HA 636) (3)

ECO 654 BENEFIT-COST ANALYSIS (SAME AS PA 680) (3)

ECO 670 ECONOMICS OF INTERNATIONAL FINANCIAL INSTITUTIONS (3)

ECO 672 WORLD TRADE AND COMMERCIAL POLICY (3)

ECO 674 AGRICULTURE AND ECONOMIC DEVELOPMENT (SAME AS AEC 626) (3)

ECO 700 TEACHING METHODS IN BUSINESS (SAME AS BA 700) (1)

ECO 701 NEOCLASSICAL MICROECONOMIC THEORY (3)

ECO 702 ADVANCED MACROECONOMIC THEORY (3)

ECO 703 INTRODUCTION TO ECONOMETRICS I (3)

ECO 704 GENERAL EQUILIBRIUM ANALYSIS AND WELFARE ECONOMICS (3)

ECO 705 MACROECONOMIC DYNAMICS (3)

ECO 706 INTRODUCTION TO ECONOMETRICS II (3)

ECO 707 RESEARCH SEMINAR IN ECONOMICS (3)

ECO 710 ECONOMICS OF ORGANIZATION (3)

ECO 711 ECONOMICS OF FIRM STRATEGY (3)

ECO 715 HISTORY OF ECONOMIC THOUGHT (3)

ECO 721 ENVIRONMENTAL ECONOMICS, REGULATION AND POLICY (SAME AS PA 727) (3)

ECO 731 LABOR ECONOMICS I (3)

ECO 732 LABOR ECONOMICS II (3)

ECO 741 THEORY OF THE FIRM AND MARKET STRUCTURE (3)

ECO 742 INDUSTRIAL ORGANIZATION (3)

ECO 749 DISSERTATION RESEARCH (0)

ECO 751 PUBLIC ECONOMICS (3)

ECO 752 THE ECONOMICS OF POLICY ANALYSIS (SAME AS PA 752) (3)

ECO 753 URBAN AND REGIONAL ECONOMICS (3)

ECO 766 MONETARY ECONOMICS: THEORY (3)

ECO 767 MONETARY ECONOMICS: POLICY (3)

ECO 768 RESIDENCE CREDIT FOR THE MASTER'S DEGREE (1-6)

ECO 769 RESIDENCE CREDIT FOR THE DOCTOR'S DEGREE (0-12)

ECO 771 INTERNATIONAL ECONOMICS: INTERNATIONAL MONEY AND FINANCE (3)

ECO 772 INTERNATIONAL ECONOMICS: TRADE THEORY AND POLICY (3)

ECO 773 OPEN ECONOMY MACROECONOMICS (3)

ECO 781 OPTIMIZATION AND ECONOMIC THEORY I (3)

ECO 782 OPTIMIZATION AND ECONOMIC THEORY II (3)

ECO 790 TIME SERIES ANALYSIS (SAME AS STA 626) (3)

ECO 792 ECONOMETRICS I (3)

ECO 793 ECONOMETRICS II (3)

ECO 796 SEMINAR (1-6)

ECO 797 RESEARCH PROBLEMS IN ECONOMICS (1-9)

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