The Department of Economics has about 50 graduate students who come from a variety of countries and regions of the world: China, Egypt, Indonesia, Japan, Malaysia, the Middle East, Taiwan, Thailand and the United States. Class sizes are relatively small (10 to 20 students). Given the diversity of our students and faculty, students are exposed to a great variety of economic conditions, problems and government policies. The department offers several graduate programs: Master of Arts in economics, Master of Arts in applied economics and Master of Arts in trade and development.
These programs are designed to accommodate students with varied backgrounds and needs, and offer sufficient flexibility to meet the career objectives of students with various interests. The programs prepare students for careers in business, finance, industry and government service. They also provide training for students who intend to pursue the study of economics at more advanced levels. Together, the three programs can accommodate students with undergraduate backgrounds in fields ranging from mathematics and engineering, economics and business, to political science, public administration and liberal arts.
Admission to any of the departments programs is available in three ways:
- Obtain a baccalaureate from an accredited college or university;
- Have an undergraduate grade point average of at least 2.5; and
- Satisfy the undergraduate course requirements including
at least one course in economics and ECON310 economic Statistics.
Conditional admission is granted to those students not meeting the standards stated in (3.) above, but who show promise. Students who are conditionally admitted are required to overcome specified deficiencies existing at the time of admission. When these deficiencies are overcome, the students status is changed to degree admission. No more than 12 hours of graduate course work in economics taken by students on conditional status may be applied toward the M.A. degree.
Non-degree student status is available for those not qualified for degree or conditional admission, or those who wish to take courses for self-improvement and are not interested in obtaining a degree.
The length of each program is 30 hours, which can be completed as follows: 18 credit hours in fall (nine) and winter (nine) semesters, six or nine hours over spring and summer, and a final semester for the remaining three or six hours, plus meet the research requirement. Students meet the research requirement by satisfactorily completing:
- ECON604 (a research seminar),
- a masters thesis, or
- ECON699 (Supervised Research Paper). There are no foreign language requirements.
Admission Policies and Procedures
A score from the Graduate Record Examinations (GRE) is not re-quired. International students must take TOEFL and the Test of Writ-ten English (TWE). Students with scores below the minimum must take English as a Second Language (ESL) courses at EMU to raise their English proficiency up to a satisfactory level. See the Admis-sions Web site at www.emich.edu/admissions for minimum scores.
Financial aid includes the graduate assistantship (GA) program and fellowship program. The Department of Economics awards about five full-time graduate assistantships per academic year. Recipients of full-time positions work about 20 hours per week, earn about $6,800 per academic year and receive a tuition waiver of 18 hours per academic year. Awards are based on the students academic performance (as shown by grade point average and letters of recommendation), and experience in using computer programs. Graduate fellowships are awarded by the Graduate School, with particular focus on women and minority students desiring study in disciplines where these populations are under-represented. Awards are based on the students academic performance and consist of a $4,000 stipend per academic year.
MASTER OF ARTS in Trade and Development (TRDV)
Rapidly growing international trade, the complexities of world finan-cial markets, and the collision of economic development with environmental problems place special demands on economists engaged in business and public policy making. There are masters degree pro-grams that provide training in business or foreign language, or some combination thereof. The economics components of these programs are often minimal and insufficient, however. Many masters programs in economics are designed chiefly to serve students with strong ana-lytic skills. By contrast, the master of arts in trade and development not only offers comprehensive training in international trade and economic development, but also stresses applications and policy issues relevant to nontechnical careers in business and government service.
Degree admission is available to applicants who:
- Hold a bachelors degree, with a major or minor in eco-nomics, from an accredited college or university, or a bachelors or masters degree in business, foreign lan-guage, political science or another appropriate field;
- Have an undergraduate GPA of at least 2.5 on a 4.0 scale; and
- Satisfy undergraduate course requirements including at least one course in economics and the equivalent of MATH118 and ECON310.
Conditional admission may be granted to otherwise promising applicants who do not meet the above stated standards. Conditionally admitted students must overcome specified deficiencies in order to have their status changed to degree admission. No more than 12 hours of graduate course work in economics taken by students on conditional status may be applied toward the
Non-degree student status is available to those not qualifying for degree or conditional admission, or those who wish to take courses for self-improvement only.
In addition to satisfying general Graduate School requirements, the student must satisfactorily complete the following course requirements:
The M.A. in trade and development requires 30 hours of course work to be distributed among required courses and restricted elective courses as follows:
Required Courses .............................................................. 24 hours
ECON415 Introduction to Econometrics (3 hrs)
ECON501 Macroeconomic Theory and Policy (3 hrs)
ECON502 Microeconomic Theory and Policy (3 hrs)
ECON508 International Trade (3 hrs)
ECON509 International Monetary Economics (3 hrs)
ECON561 Economics of Multinational Enterprise (3 hrs)
ECON585 Economic Growth and Development (3 hrs)
Select from option I, option II or option III:
Option I: ECON604 Research Seminar in Economics (3 hrs)
Option II: ECON699 Independent Study (3 hrs) in which the student writes a supervised research (M.A.) paper under the direction of a faculty member.
Option III: ECON692 Thesis (3 hrs)
Restricted Elective Courses ................................................. 6 hours
Six hours from the following:
ECON587 Case Studies in Economic Development_(3 hrs)
ECON681 Special Topics (3 hrs)
FIN540 International Finance (3 hrs)
MKTG520 International Business (3 hrs)
PROGRAM TOTAL ......................................................... 30 hours
Undergraduate Courses for Graduate Credit
The following courses may be elected for graduate credit; course descriptions may be found in the undergraduate catalog. A maximum of nine hours of approved 400-level course work may be permitted in the earning of any graduate degree.
If you intend to enroll in any of the following undergraduate courses for graduate credit, you must submit a request form from the Graduate School to receive permission before enrolling in the course; otherwise, you will receive undergraduate credit.
ECON405 Economic Analysis for Business (3 hrs)
ECON406 History of Economic Thought (3 hrs)
ECON407 Economic Analysis and Law (3 hrs)
ECON415 Introduction to Econometrics (3 hrs)
ECON420 Labor Economics (3 hrs)
ECON436 Health Economics (3 hrs)
ECON440 Money, Credit, and Monetary Policy (3 hrs)
ECON445 Economic Fluctuations and Forecasting (3 hrs)
ECON455 Cost-Benefit Analysis (3 hrs)
ECON460 Industrial Organization (3 hrs)
ECON479 Special Topics (Financial Economics) (3 hrs)
ECON480 International Economics (3 hrs)