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Programs of Study, 1997-1999
University of Illinois at Urbana-Champaign
ECONOMICS
Head of the Department: Richard Arnould
Associate Head and Director of Graduate Studies: Steven Williams
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. E-mail: econ@uiuc.edu.
URL: http://www.cba.uiuc.edu/college/econ/intro/econ.html
GRADUATE FACULTY
Professors: L. Alston, R. Arnould, W. Baer, A. Bera, J. Brueckner, F. Gahvari, J. Giertz, F. Gottheil, E. Grinols, W. Hendricks, R. Koenker, J. Leuthold, L. Neal, D. Orr, S. Rashid, R. Resek, P. Schran, W. Shafer, F. Shupp, C. Sprenkle, K. Taira, N. Yannelis
Associate Professors: L. Arvan, A. Bera, L. DeBrock, H. Esfahani, R. Husby, S. Krasa, C. Kuan, B. Taub, A. Villamil, S. Williams, H. Williamson
Assistant Professors: J. Conley, G. Deltas, P. Graziano, S. Greenstein, K. Hallock, M. Huggett, T. Krebs, W. Maloney, E. Powers
GRADUATE DEGREE 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, 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 ECONOMICS WITH A SPECIALIZATION INPOLICY 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. Spring admission is usually not granted. Specific requirements include a set of core courses: one unit in mathematics for economists, three units of microtheory, two units of macrotheory, three units of statistics and econometrics, and eight 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.
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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