Economics

Office: 2074 Faculty/Administration Building; 313-577-3345
Chairperson: Stephen J. Spurr
Administrative Assistant: Delores G. Tennille
Website: http://www.clas.wayne.edu/Economics/


Economics Courses (ECO)

Economics and Law (M.A. / J.D. Joint Degree Program)

Economics (M.A. Program)

Economics (Ph.D. Program)

Fellowships, Assistantships and Awards

Graduate Degrees


Professors

Ralph M. Braid, Allen C. Goodman, Li Way Lee, Robert J. Rossana, Stephen J. Spurr, Gail Jensen Summers

Associate Professors

Michael H. Belzer, Kevin D. Cotter, Xu Lin

Assistant Professors

Shooshan Danagoulian, Liang Hu, Jennifer Ward-Batts, Young-Ro Yoon

Lecturer

Hyungseok Joo

Adjunct Lecturer

David Strauss

Graduate Degrees

MASTER OF ARTS with a major in Economics

DOCTOR OF PHILOSOPHY with a major in Economics

The Department encourages applications from students with broad intellectual interests as well as strong quantitative skills, regardless of their undergraduate majors.

The M.A. in Economics can be a terminal degree leading to careers in business, government and non-governmental organizations, or junior college teaching. Because many master's students study part-time, the Department schedules as many core courses in the evening as possible.

The Ph.D. curriculum provides thorough training for professional economists through course work, tutorials and research workshops. It gives students a solid foundation in economic theory and econo­metrics and offers several carefully selected fields of specialization. The Department's Ph.D. graduates choose careers in academia, research, and business.

Economics (M.A. Program)

Admission to this program is contingent on admission to the Gradu­ate School; for requirements, see Admission, Graduate School. Applicants to this program must hold a bachelor's degree, with an undergraduate grade point average of at least 3.0 for regular admis­sion. Exceptions may be authorized only by the Department's Admis­sions Committee. Consistent with Graduate School requirements, international applicants must demonstrate English proficiency by obtaining a satisfactory score on the Test of English as a Foreign Language (TOEFL) or other test acceptable to the Graduate School.

Applicants are expected to have completed the following courses or their equivalents as undergraduate or post-bachelor students:

ECO 5000 – Intermediate Microeconomics: Cr. 4
ECO 5050 – Intermediate Macroeconomics: Cr. 4
ECO 5100 – Introductory Statistics and Econometrics: Cr. 4

MAT 2010 or a similar introductory course in differential and integral calculus
    provides minimal mathematics requirements. Additional courses in
   calculus and linear algebra are desirable although not required.

Regular admission may be granted to an applicant who has not com­pleted these courses, but in this case they must be completed before taking 6000- or 7000-level courses.

DEGREE REQUIREMENTS

Thirty-two graduate credits are required. Although the University offers various plans for M.A. degrees, the Department of Economics offers the Master of Arts degree under Plan C only, as described below.

For the M.A. Program, students must take Economics 6000, 6050, and 6100, which constitutes the theory core, as early in their program as possible. Students must also take a two-course sequence at the 7000 level, chosen from one of the following: Macroeconomics (ECO 7050 and 7060), Microeconomics (7000 and 7010), Econometrics (7100 and 7110), Industrial Organization (7200 and 7210), Interna­tional Economics (7300 and 7310), Labor and Human Resources (7400 and 7410), or Health Economics (7550 and 7560). Students who concentrate in fields other than Health Economics or Industrial Organization must have taken a full year of calculus, at a minimum. In addition, the permission of the M.A. Director and the instructor is required. Neither a thesis nor an essay is required. Three written examinations are required. Students must pass written exams cover­ing the microeconomics and macroeconomics core courses and a written exam covering their 7000 - level concentration. In addition, students take three elective classes at the 6000 or 7000 level.

Students should file a Plan of Work with the M.A. Director as soon as possible after being admitted to the M.A. Program. A Plan of Work developed early helps students make sure that they take courses in the right order and complete their program quickly and efficiently.

Candidacy: The Graduate School does not authorize candidacy unless the applicant's grade point average is 3.0 or better. To be eligi­ble for candidacy, the student must also file a Plan of Work, approved by the master's program advisor, with the graduate officer of the Col­lege of Liberal Arts and Sciences. The M.A. Director requires all M.A. students to file a Plan of Work by the end of the first semester in the Economics M.A. program. The Graduate School does not allow M.A. students to register if a Plan of Work has not been filed by the time twelve graduate credits have been earned.

Academic Scholarship: All course work must be completed in accordance with the academic procedures of the College of Liberal Arts and Sciences and the Graduate School governing graduate scholarship and degrees: see the sections of this bulletin under Aca­demic Regulations for the College of Liberal Arts and Sciences and Academic Regulations, Graduate, respectively.

Economics and Law
(M.A. / J.D. Joint Degree Program)

This Department in cooperation with the Law School offers a joint degree program leading to a Master of Arts degree with a major in Economics and a Juris Doctor degree in law. Students in this pro­gram must be admitted to both the Law School and the Department of Economics and must complete all requirements for the Economics M.A. degree and all requirements for the J.D. degree. After admis­sion to the Law School, the student must complete the first year of the J.D. program before electing additional economics courses. For details on admission requirements and degree requirements for the joint J.D./M.A. program, visit the department website at the following address: http://www.clas.wayne.edu/Economics/

Economics (Ph.D. Program)

Admission to this program is contingent upon admission to the Graduate School; for requirements, see Admission, Graduate School. Applicants to this program must hold a bachelor's degree and have a grade point average of at least 3.0. Applicants must include verbal, quantitative and analytical Graduate Record Exam­ination scores and three letters of recommendation from officials or teaching staff of the institution(s) most recently attended. Applicants from other countries must demonstrate English proficiency by obtain­ing a satisfactory score on the Test of English as a Foreign Language (TOEFL). All candidates must submit a Statement of Purpose as part of their applications.

Applicants are expected to arrive with the following preparation:

ECO 5000 – Intermediate Microeconomics: Cr. 4
ECO 5050 – Intermediate Macroeconomics: Cr. 4
ECO 5100 – Introductory Statistics and Econometrics: Cr. 4
MAT 2010 and 2020 or similar introductory courses in differential and integral
   calculus providing minimal mathematics requirements. Additional courses in
   calculus and linear algebra are highly desirable.

DEGREE REQUIREMENTS

Ph.D. students in economics must successfully complete ninety cred­its in graduate study, consisting of sixty credits in course work and thirty credits in dissertation research. The thirty credit dissertation registration requirement is fulfilled by registering for the courses ECO 9991, 9992, 9993, and 9994 (Doctoral Dissertation Research and Direction I, II, III, and IV, respectively), in consecutive academic year semesters. Advancement to candidacy will require about three years of full-time study beyond the bachelor's degree and is granted upon completion of the following requirements:

1. Completion of a Plan of Work, which must be approved by the Director of Graduate Studies in Economics and by the Dean of the Graduate School. The Plan of Work must be filed by the completion of the first year of doctoral study.

2. Completion of course work in economic theory (ECO 7020, 7021, 7000, 7010, 7050, 7060) and in two of the following five fields: advanced macroeconomics, health economics, industrial organiza­tion; international economics; and labor economics. Proficiency must be demonstrated by passing qualifying examinations in microeco­nomic theory, macroeconomic theory, and two selected fields.

3. Completion of course work in quantitative methods (ECO 7100, 7110, and 7120).

4. An oral examination on research.

Academic Scholarship: All course work must be completed in accordance with the academic procedures of the College of Liberal Arts and Sciences and the Graduate School governing graduate scholarship and degrees: see the sections of this bulletin under Aca­demic Regulations for the College of Liberal Arts and Sciences and Academic Regulations, Graduate, respectively.

Minor Requirements: Students must complete at least eight credits in a minor field, subject to the approval of the Director of Graduate Studies in Economics. These courses may include other economics courses not specified in the major requirements.

Doctoral Dissertation Outline and Record of Approval: This form must be approved by the student's dissertation advisory committee, the Director of Graduate Studies in Economics, and the Dean of the Graduate School.

The Doctoral Dissertation: The doctoral candidate is required to submit a doctoral dissertation on a topic satisfactory to his/her Fac­ulty Dissertation Committee.

Public Lecture: Upon acceptance of the dissertation, the student will deliver a final lecture in accordance with Graduate School proce­dures.

Fellowships, Assistantships and Awards

Sources of financial aid for graduate students may be found in the section on Graduate Financial Assistance, beginning under Financial Assistance, Graduate of this bulletin.

Teaching and research assistantships providing tuition, stipends and health insurance are available each year to highly qualified doctoral students. Fellowships and tuition scholarships are also available to doctoral students. Applications are accepted for the Fall and Winter Semesters. Applications for financial aid for the Fall Semester should reach the Department by June 1 for U.S. students, and by May 1 for international students. Financial aid applications for the Winter Semester should reach the Department by October 1 for U.S. stu­dents, and by September 1 for international students. Later applica­tions will be considered if positions are available. Applications must include verbal, quantitative, and analytical Graduate Record Exam­ination scores, three letters of recommendation from officials or teaching staff at the institution(s) most recently attended, and a Statement of Purpose concerning one's desire to study economics. Applicants from other countries must also demonstrate proficiency in spoken English before being assigned to teaching duties.

The Department encourages its graduate students to compete for the fellowships and scholarships awarded by the Graduate School, foun­dations, professional organizations, government units, and corpora­tions.

Two departmental awards have been created to encourage research and publication in economics: the Samuel M. Levin Essay Award for the best research paper includes a prize of $1500; the Mendelson Research Grants provide summer stipends of $1500 to selected doc­toral students working on their dissertations.