Master's Degree Program
Guide to Graduate Programs in Economics:
The economics master’s program is designed to provide students with the essential background and fundamental knowledge required to prepare for further graduate work or to embark on entry-level or mid-level positions conducting economic analysis and forecasting within industry or government. Courses are selected to allow students to be well prepared for these alternatives.The Guide is designed to answer some of the most frequently asked questions concerning graduate programs in economics.
Application Deadlines
Contact Information
Focus
Degree Requirements
Students
Track I: Ph.D. Preparation
Track I is a program designed to prepare the student for a doctoral program. It mirrors the first year of courses for the Ph.D. in economics at the University of Alabama, and a student has the ability to p
Required Courses:
EC 570; EC 610; EC 611; EC 616; EC 660; EC 670 and ST 554
Beyond the required courses, students would take 12 additional hours of graduate coursework. To maintain consistencey with the Ph.D. program, students should enroll in ST 554. The other three courses should be selected from the available graduate courses in economics or finance. In particular, courses from the following specialty areas would be recommended: Industrial Organization; International Trade and Finance; Public Sector Economics; Monetary Economics. Students in the Ph.D. program may apply for an M.A. degree after completion of the first year courses, passing the qualifying exam, and passing two additional courses.
Track II: Applied Economics
Track II is designed primarily for students who want to prepare for a career in which they apply the skills of economic analysis. These jobs are typically in industry, the financial sector or government agencies. This program requires 30 hours.
While Mathematical Economics, EC 570, is listed as a course in the program, it is actually a course that students should complete prior to their entry into the master’s program in the fall. Effectively, it should be regarded as a prerequisite. For students who have not completed this course, or its equivalent, this class is usually offered both during summer school (generally the first summer term) and also as an intensive (3 week) course in August. The intensive course is intended primarily for students entering the Ph.D. program in the fall, but it would serve the needs of many master’s students as well. Completing Mathematical Economics prior to the Fall semester will allow students to complete their degree program in a timely fashion; we strongly urge students to try to take this course prior to starting the program.
Required Courses in Sequence (27 Hours)
- EC 570 - Introduction to Mathematical Economics (Summer or Fall)
- EC 508 - Microeconomic Theory (Fall)
- EC 513 - Economic Forecasting & Analysis (Fall)
- ST 521 - Statistical Data Management SAS I (Fall)
- ST 531 - Data Mining I (Fall)
- EC 509 - Macroeconomic Theory and Policy (Spring)
- EC 571 - Econometrics (Spring)
- ST 522 - Advanced Statistical Data Management SAS II (Spring)
- ST 532 - Advanced Data Mining (Spring)
The set of required courses are designed to enhance a student’s understanding of the core concepts in microeconomics and macroeconomics, as well as developing a set of quantitative skills in econometrics and economic forecasting. These skills are complemented by the four courses in statistics, which are designed to develop and hone the student’s understanding of statistical methods, but also the use of the statistics software package, SAS. This package is widely used by organizations in both the public and private sector; the capabilities these courses provide should improve a graduate’s career prospects substantially. It is also noteworthy that upon successful completion of the set of statistics courses you will receive a Data Mining Certificate from SAS Institute.
Capstone Course (3 Hours):
EC 596 - Capstone Masters
Most students in Track II (and in Track III) will enroll in EC 596, usually in the spring semester. This course will satisfy the graduate school's requirement for a comprehensive exam, which all MA in Economics candidates must satisfy. Track I students take the Ph.D. qualifying exam; Track II and Track III students have this option. A discussion of the Ph.D. comprehensive examination can be found below in the section describing the degree requirements for the Ph.D. in economics.
The primary requirement of EC 596 is the completion of a research paper. The purpose of this paper is to provide an integrative experience for students—the paper would involve the use of the core topics in economic theory, the econometrics and forecasting skills gained in those courses in conjunction with the statistical skills gained in the statistics courses. In other words, this class provides a capstone experience to the student’s master’s degree program.
Alternative Elective Courses
· EC 530 - International Trade (Spring)
· EC 531 - International Finance (Fall)
· EC 523 - Public Expenditure and Policy Analysis (Spring)
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· FI 512 - Money & Capital Markets (Spring)
· FI 514 - Investments (Fall or Spring)
Other courses may be substituted as electives with permission of the Graduate Program Committee.
Intermediate Micro and Macro Theory (EC 308-309), Statistics (ST 260) and Calculus (MATH 121 or 125) are prerequisites for core courses in both tracks. If these courses have not been taken, they should be taken by the time the student enters the program. These courses cannot be taken for graduate credit.
Course Loads and Time Required for Completion Of the Degree
A full load for graduate credit is 12 hours (4 courses) per semester. The Master's degree is a research-oriented degree, and students are expected to read in the original literature to develop an understanding of research design and theoretical issues.
Students attending school on a full-time basis can usually complete the Master's degree in one calendar year.
Policy Economics: Track III
The set of courses in this track is designed to enhance a student’s understanding of the core concepts in microeconomics and macroeconomics, as well as enhancing the student’s skills in understanding and analyzing policy issues. Students also gain quantitative skills through course work in econometrics and economic forecasting.
| REQUIRED COURSES - In Sequence | Hours |
| EC 570 Introduction to Mathematical Economics* (Summer or Fall) | 3 |
| EC 508 Microeconomic Theory (Fall) | 3 |
| EC 513 Economic Forecasting & Analysis (Fall) | 3 |
| EC 500 level elective (Fall) | 3 |
| EC 500 level elective (Fall) | 3 |
| EC 509 Macroeconomic Theory and Policy (Spring) | 3 |
| EC 571 Econometrics (Spring) | 3 |
| EC 500 level elective (Spring) | 3 |
| EC 500 level elective (Spring) | 3 |
| TOTAL HOURS OF REQUIRED COURSES | 27 |
*Students who have taken EC 470 or its equivalent (with a grade of B or above) will be allowed to waive this requirement. All students who have not taken this course are very strongly urged to take it in the summer prior to entry into the program in the Fall Semester.
Capstone Course (3 Hours):
EC 596 - Capstone Masters
Most students in Track II (and in Track III) will enroll in EC 596, usually in the spring semester. This course will satisfy the graduate school's requirement for a comprehensive exam, which all MA in Economics candidates must satisfy. Track I students take the Ph.D. qualifying exam; Track II and Track III students have this option. A discussion of the Ph.D. comprehensive examination can be found below in the section describing the degree requirements for the Ph.D. in economics. The primary requirement of EC 596 is the completion of a research paper. The purpose of this paper is to provide an integrative experience for students—the paper would involve the use of the core topics in economic theory, the econometrics and forecasting skills gained in those courses in conjunction with the statistical skills gained in the statistics courses. In other words, this class provides a capstone experience to the student’s master’s degree program. Alternative 500 Level Elective Courses EC 512 Industrial Organization EC 516 Monetary Theory and Policy EC 523 Public Finance EC 530 International Economics EC 531 International Finance Electives in areas other than economics may be substituted with the permission of the Graduate Program Committee. Minimum Total Hours for Track III 30 Domestic Students International Students Spring Term - Outside the United States - June 1 GMAT and GRE Reporting For further information contact: Phone: 205-348-6683Application Deadlines
Fall Term - July 1
Spring Term - November 1
Summer - April 1
Fall Term - Outside the United States - January 15
Fall Term - Inside the United States - April 15
Spring Term - Inside the United States - September 15
Departmental Code (Economics) - 1801
Debra Wheatley
Graduate Programs Secretary
Economics, Finance and Legal Studies
The University of Alabama
Box 870224
204 Alston
Tuscaloosa, AL 35487
Fax: 205-348-0590
dwheatley@cba.ua.edu