Department of Economics

Master's Program

Admission Requirements

Applicants to the M.A. program must have (1) a cumulative undergraduate grade-point average of at least 3.0 (on a 4.0 scale); (2) 12 hours of undergraduate economics, including two intermediate theory courses, one in price theory, and one in macroeconomics; (3) an introductory course in statistics; and (4) one semester of calculus. 

Applicants whose undergraduate GPA is lower than 3.0 are required to submit GRE scores. Students combined score on the verbal and quantitative sections must be at least an 1100 (300 on the new scale).

Program Requirements


  • MS in Applied Economics and Predictive Analytics
  • MA in Applied Economics
  • MA in International Economics and Policy
  • MA in Law and Economics
  • MA in conjunction with Ph.D.

     

    M.S. in Applied Economics and Predictive Analytics (MSAEPA)

    The Master of Science in Applied Economics and Predictive Analytics (MSAEPA) is a new degree offered by the Department of Economics.  The MSAEPA is designed to help meet the burgeoning demand for analytics training on the part of business, government, and non-profits.  This degree focuses on economic analysis, decision making, along with strong quantitative training, and brings additional skills not typically provided in analytics programs found in Statistics, Engineering, or Business programs.  “Predictive Analytics” refers to the process of building models which predict consumer behavior under different circumstances, and help customize product offerings that better suit the tastes and preferences of consumers.  It also refers to building models to predict time series variables of importance to businesses and governments like product sales and tax revenues, and to evaluate competing government programs and business strategies. The MSAEPA is a 36 credit hour degree. 

     

    Required Core Courses:

    ECO 5350 Introductory Econometrics
    ECO 6381 Economic Analysis I (microeconomics)
    ECO 6382 Economic Analysis II (macroeconomics)

    Required Advanced Analytics Courses:

    ECO 5375 Business and Economic Forecasting
    ECO 5385 Data Mining Techniques for Economist 

    Required Business Intelligence Courses (2 out of 4)

    ECO 5340 Decision Making Under Uncertainty
    ECO 5341 Strategic Behavior
    ECO 5370 Cost Benefit Analysis
    ECO 6383 Managerial Economics

    Required Global Perspective Courses (1 out of 3)

    ECO 6320 Applied Monetary Theory and Policy
    ECO 6330 Exchange Rates and International Capital Markets
    ECO 6331 International Trade
    ECO 6333 Trade Policy and World Trading System

    Elective Courses (4 out of the following)

    Any economics courses listed below not already taken to fulfill the Business Intelligence and Global Perspective requirements.

    ECO 5340 Decision Making Under Uncertainty
    ECO 5341 Strategic Behavior
    ECO 5370 Cost Benefit Analysis
    ECO 5380 Computing for Economists
    ECO 6352 Applied Econometric Analysis
    ECO 6383 Managerial Economics
    ECO 6303 Internship
    ECO 6320 Applied Monetary Theory and Policy
    ECO 6330 Exchange Rates and International Capital Markets
    ECO 6331 International Trade
    ECO 6333 Trade Policy and World Trading System
    STAT 5304 SAS Programming
    STAT 5340 Probability and Statistics for Scientists and Engineers
    STAT 5371 Experimental Statistics I
    STAT 6304 Computational Statistics
    MATH 5316 Introduction to Matrix Computation

    Note:  Students must have at least a total of six courses at the 6000 level or above.

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    M.A. in Applied Economics Track

    The curriculum for a Master of Arts in Applied Economics is customized to suit the needs of a graduate student pursuing a career as an economist for a business or financial institution, government agency, or as a senior manager who must analyze external economic forces affecting a firm and factor them into corporate decisions. The program combines economic theory with quantitative skills and training it provides is useful for corporations and financial institutions in their economic decision-making. A rigorous framework is established for the study of government policy and the growing openness of the U.S. economy to foreign competition. Necessary concepts are developed from the basics, but at a more deliberate pace than in a Ph.D. program. Since many candidates in this program prefer to pursue the degree while being employed, many courses are scheduled for evening hours.

    Students take three required core courses in economics that form the building blocks for further study and analysis in economics. Another three required courses provide applied training in econometrics and microeconomic analysis. Six additional courses are needed to complete the degree, two of which must be 6000 level courses. Some courses are offered in sequence which means they are not offered every semester.

    Required Core Courses:

    ECO 5350 Introductory Econometrics
    ECO 6381 Economic Analysis I (microeconomics)
    ECO 6382 Economic Analysis II (macroeconomics)

    Required Applied Economics Courses: (3 out of 4)

    ECO 5375 Business and Economic Forecasting
    ECO 5385 Data Mining Techniques for Economist
    ECO 6352 Applied Econometric Analysis
    ECO 6383 New Approaches to Managerial Economics

    Six of the following Courses (at least two of which must be 6000 level):

    ECO 5337 Urban Economics
    ECO 5340 Decision Making Under Uncertainty
    ECO 5341 Strategic Behavior
    ECO 5353 Law and Economics
    ECO 5357 Economics of Human Resources
    ECO 5360 Economic Development in the Third World
    ECO 5365 Public Finance
    ECO 5370 Cost Benefit Analysis
    ECO 6320 Applied Monetary Theory and Policy
    ECO 6330 Exchange Rates and International Capital Markets
    ECO 6331 International Trade
    ECO 6333 Trade Policy and the World Trading System
    ECO 6337 Emerging Markets
    ECO 6339 Topics in International Economics

    Credit Hours: Every students must earn at least 36 term credit hours of an approved program of study, 18 hours of which must be at the 6000 level. This plan does not require a Master’s Thesis or Master papers. A comprehensive final exam is required.

    Grade Point Average: All courses must be completed with a grade of C (2.00) or better, and a B (3.00) average over all the courses taken in the program.

    Admission Requirements: A graduate course in economics taken as part of an MBA program may be substituted for the 12 hours undergraduate training in economics required for the MA program. In addition, three hours of calculus and three hours of statistics are necessary for admission requirements. GMAT scores may be submitted instead of the GRE scores if the applicant desires.

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    MA in International Economics and Policy

    This curriculum is designed for students who wish to deepen their understanding of the changing global economic environment. Equal emphasis is placed on theory and practice in international economics. All of the entrance requirements for the MA in Economics-Applied Track hold for this track. Students take three core courses in economic and quantitative analysis that are the building blocks for further study and analysis in economics. The three required international courses provide students with the necessary background in theory and practice of international trade, finance, and policy. Students can pursue special interests in international economics through elective courses.

    Required Core Courses:

    ECO 5350 Introductory Econometrics
    ECO 6381 Economic Analysis I (microeconomics)
    ECO 6382 Economic Analysis II (macroeconomics)

    Required International Economics Courses:

    ECO 6330 Exchange Rates and International Capital Markets
    ECO 6331 International Trade
    ECO 6333 Trade Policy and the World Trading System

    Three of the following Economics Courses:

    ECO 5360 Economic Development in the Third World
    ECO 5370 Cost Benefit Analysis
    ECO 5375 Business and Economic Forecasting
    ECO 5385 Data Mining Techniques for Economist
    ECO 6337 Emerging Markets
    ECO 6339 Topics in International Economics
    ECO 6352 Applied Econometric Analysis

    Electives: Nine hours (three courses) of free electives

    Credit Hours: Every student must earn at least 36 term credit hours of an approved program of study, 18 hours of which be at the 6000 level. All of the entrance requirements for the MA in Economics - Applied Track hold for the International Economics and Policy Track. This plan does not require a Master’s Thesis or Masters papers. A final comprehensive exam is required.

    Grade Point Average: All courses must be completed with a grade of C (2.00) or better, and a B (3.00) average over all the courses taken in the program.

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    M.A. in Law and Economics

    This degree is designed for those students admitted to the School of Law who wish to have further training in economics. The program is useful both for those who do not plan to practice law after graduation as well as for those who anticipate representing clients in legal matters that engage complex economic and quantitative issues. In addition, the program is designed to investigate the differences and similarities between economic and legal reasoning and to provide an alternative perspective on law and society.

    Students are admitted separately into the law school and the M.A. program in the economics department. The first year of the program consists entirely of law school courses, and students may apply for admission into the joint degree plan at any time during their first year of law school.

    Required Courses:

    ECO 5341 Strategic Behavior
    ECO 5350 Introductory Econometrics
    ECO 5353 Law and Economics
    ECO 6352 Applied Econometric Analysis
    ECO 6381 Economic Analysis I
    ECO 6383 New Approaches to Managerial Economics

    Credit Hours: Once admitted to the joint program, the Law School will accept six hours of economics credit toward the J.D. degree and the economics department will accept nine hours of law toward the M.A. degree. Thus, the entire program requires 111 hours. The economics curriculum consists of six required courses (18 hours) and three electives in economics (9 hours). Students who attend at least one summer session can complete the program with one additional semester in residence. Those who have received the J.D. degree are encouraged to apply for the program, although law school credit cannot be granted after the J.D. degree is conferred. This plan does not require a Master's thesis or Master's papers. A final exam is required.

    Grade Point Average: All courses must be completed with a grade of C (2.0) or better, and with an overall B (3.0) cumulative average maintained in the degree program.

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    M.A. with Thesis

    This program is designed for students admitted into the Ph.D. program who decide they are unprepared for the rigors of Ph.D. coursework. Students selecting this option must complete the first semester of their Ph.D. coursework.

    Required Courses: Each of the courses, ECO 6371 (Introduction to Quantitative Economics), ECO 6384 (Microeconomic Theory I), and ECO 6394 (Macroeconomics Theory I), must be completed with a grade of C or better.

    Credit Hours: Every student must earn at least 30 semester credit hours in an approved program of study with the possibility of no more than six credit hours from another institution. No credit will be allowed toward a Master's degree for courses taken more than six years before the date on which the degree is to be conferred.

    Grade Point Average: Every student must maintain at least a cumulative B (3.0) average over courses taken in the degree program.

    Thesis and Master's Papers: A student must submit either a Master's thesis or two approved Master's papers.

    Qualifying Examination: Upon completion of the course work and the acceptance of the thesis or the papers, the student must pass an oral examination given by a faculty committee.

    Residency: A residency of at least nine months in the regular sessions or the full equivalent of this residence period in the summer.

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    M.A. in Conjunction with Ph.D.

    Students pursuing a Ph.D. program are qualified to receive the M.A. degree after having fulfilled the following requirements: a) passing the written qualifying examination in Microeconomic Theory, and Macroeconomic Theory; b) completing 30 semester hours of courses in their program.

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