Interim Head of the Department: Jane Leuthold
Associate Head and Director of Graduate Studies: Salim Rashid
Correspondence and Information: Department of Economics, University of Illinois at Urbana-Champaign, 330 Commerce West Building , 1206 South Sixth Street, Champaign, IL 61820; (217) 333-0120; FAX: (217) 244-6678
GRADUATE FACULTY
Professors: L. Alston, R. Arnould, W. Baer, A. Bera, F. Blau, J.
Brueckner, F. Gahvari, J. Giertz, R. Gillespie, F. Gottheil, E. Grinols, W.
Hendricks, C. Kahn, L. Kahn, R. Koenker, J. Leuthold, W. McMahon, L. Neal, P.
Newbold, D. Orr, S. Rashid, R. Resek, P. Schran, W. Shafer, F. Shupp, P.
Spiller, C. Sprenkle, K. Taira, T. Ulen, N. Yannelis
Associate Professors: L. Arvan, A. Bera, L. DeBrock, H. Esfahani, R. Husby, S. Steinkamp, B. Taub, A. Villamil, S. Williams, H. Williamson
Assistant Professors: J. Conley, P. Graziano, S. Greenstein, M. Huggett, S. Krasa, C. Kuan, W. Maloney
GRADUATE PROGRAMS
The Department of Economics offers graduate work leading to the master of
science in policy economics and doctor of philosophy degrees. The candidate for
an advanced degree may specialize in the following fields: microeconomic
theory, environment and natural resources, history of economic thought, public
finance, monetary theory, international economics, economic history, labor
economics, growth and development, comparative economic systems, urban and
regional economics, mathematical economics, econometrics, industrial
organization, law and economics, and human resource economics.
MASTER OF SCIENCE IN POLICY ECONOMICS
This is a specially designed, intensive, one to two year program of study. It
is intended for promising young administrators in government and private
institutions (in both Third World countries and advanced industrial countries)
who need additional training in the areas of economic analysis and quantitative
techniques. Individuals with other backgrounds and interests may substitute
appropriate advanced-level courses for the core courses listed below.
The program of study in policy economics consists of 10 units of graduate course work. A core of four courses (macroeconomics, microeconomics, statistics, and applied econometrics) is required of all students in the program. Beyond that core, students select one field of concentration from those listed above. An additional four graduate credit courses are to be completed. Two of these must be taken in economics, and an additional two courses may be in economics or in other areas. Students normally enter the program in the fall term.
This required course work is further enriched through (1) a short course in computers, which is later used in the statistics and econometrics courses; (2) opportunity to go on field trips to observe financial institutions, commodity exchanges, and the like; (3) scheduled lectures by outstanding, internationally known economists; (4) discussion groups and tutoring for participants who are having difficulty; (5) program staff to help with visas, housing, and other problems.
Tuition and fees for this program are substantially higher than those in other University programs. No financial aid is available for students in this program.
DOCTOR OF PHILOSOPHY
The Ph.D. program requires the completion of 24 units of study beyond the
bachelor's degree. Specific requirements include a set of core courses: 1 unit
in mathematics for economists, 3 units of microtheory, 2 units of macrotheory,
3 units of statistics and econometrics, and 8 doctoral thesis units. Candidates
must maintain a grade-point average of B in the micro, macro, and statistics
core courses. Candidates must also successfully complete two fields through
course work and/or a written examination. A research paper is also required. In
addition, candidates are required to give an oral defense of the thesis
proposal and pass an oral final examination covering the research. A student
with an appropriate background who devotes full time to graduate work can
complete the Ph.D. degree in four years beyond the bachelor's degree. An
additional year or more is sometimes necessary, especially for those holding
part-time assistantships.
In addition to the standard undergraduate preparation in economics, students are expected to have had at least two semesters of calculus and one of linear algebra to be admitted to the Ph.D. program. The results of the Graduate Record Examination should accompany applications for admission. The Graduate College admission requirements apply. In addition, international students must submit TOEFL results; if they wish to apply for teaching assistantships, the Test of Spoken English (TSE) is also required.
MASTER'S PROGRAM IN ECONOMICS
A master of arts degree and a master of science degree are available for students in the Ph.D. program to enable them to earn a master's as they work toward the Ph.D. degree. Students interested in a terminal master's degree are not admitted to the Ph.D. program.
FINANCIAL AID
Over the past seven years, the Department of Economics has been able to offer
fellowships or assistantships to most domestic students who meet the standards
for entrance or continuation in the Ph.D. program. A similar commitment to
domestic students is anticipated for the coming year. Teaching assistantships
are generally not given to international students during their first year
unless they have scored at least 250 on the TSE, and have a particularly strong
academic background.
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