ECONOMICS

Head of the Department: Richard Arnould

Associate Head and Director of Graduate Studies: Roger Koenker

Correspondence and Admission Information: Department of Economics, 330 Wohlers Hall, 1206 South Sixth Street, Champaign, IL 61820; (217) 333-0120; Fax: (217) 244-6571; E-mail: econ@uiuc.edu

URL: www.cba.uiuc.edu/college/econ/intro/econ.html

GRADUATE DEGREE PROGRAMS

The Department of Economics offers graduate programs leading to the master of science and doctor of philosophy degrees. The candidate for a Ph.D. may specialize in the following fields: microeconomic theory, public finance, monetary theory, international economics, economic history, labor economics, growt h and development, urban and regional economics, mathematical economics, econometrics, industrial organization, and law and economics.

Admission

Admission to the Ph.D. program is available only for the fall semester. 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 (GRE) should accompany applications for admission. The Graduate College admission requirements apply. In addition, international students must submit Test of English as a Foreign Language (TOEFL) results; if they wish to apply for teaching assistantships, the Test of Spoken English (TSE) is also required.

Graduate Teaching Experience

Experience in teaching is considered an important part of the graduate program and is encouraged as part of the academic work of all Ph.D. candidates in this program.

MASTER OF SCIENCE IN Economics with a specialization 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 ten units of graduate coursework. 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 courses are required. Two of these must be taken in economics and an additional two courses may be in economics or in other areas. Stu dents normally enter the program in the fall term.

This required coursework is further enriched through (1) a short course in computers, to gain skills which are later used in the statistics and econometrics courses; (2) opportunities to take 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; and (5) program staff assistance 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.

Master of Science

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 degree as they work toward the Ph.D. degree. Students interested in a terminal master's degree are not admitted exc ept into the Master of Science in Economics with a specialization in Policy Economics.

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: one unit in mathematics for economists, three units of microeconomic theory, two units of macroeconomic theory, 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 coursework 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 y ear or more is sometimes necessary, especially for those holding part-time assistantships.

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 50 on the Test of Spoken English (TSE) and have a particularly strong academic background.