College of Arts and Sciences

Departmental E-mail: econgrad [at] indiana [dot] edu

Departmental URL: https://economics.indiana.edu/

(Please note that when conferring University Graduate School degrees, minors, certificates, and sub-plans, The University Graduate School’s staff use those requirements contained only in The University Graduate School Bulletin.)

Curriculum

Curriculum
Courses
Faculty

Degrees Offered

Master of Science, Doctor of Philosophy, Master of Arts, Master of Arts for Teachers in Economics

Special Departmental Requirements

(See also general University Graduate School requirements.)

Master of Science (M.S.) in Economics

Admission Requirements

Undergraduate major or substantial course work in Economics, Engineering, Mathematics, Statistics or Physics. Students seeking admission may apply to the Department of Economics online. In addition to a completed application, prospective students must include at least three letters of recommendation, official undergraduate transcripts, and scores on the Graduate Record Examination General Test.

Grades

Students must maintain a minimum GPA of B (3.0) in order to remain in good standing in the Graduate School. Courses to be counted toward the degree must be passed with a grade of B- (2.7) or better.

Course Requirements

A total of 30 credit hours is required for this degree. All students take the same set of three classes in each of the first two semesters. The required academic core includes:

• ECON-M500: Mathematics for Economists
• ECON-M501: Microeconomic Theory I
• ECON-M504: Econometrics I
• ECON-M511: Microeconomic Theory II
• ECON-M502: Macroeconomics
• ECON-M514: Econometrics II

In the third semester, all students will take ECON-M517, Computational Economics.

Students will choose either the Game Theory Track (Track 1) or the Financial Economics (Track 2) in their third semester.

Courses Required for Game Theory Track (Track 1):

• ECON-M516: Game Theory
• ECON-M518: Econometrics: Big Data

Courses Required for Financial Economics (Track 2):

• ECON-M513: Financial Economics
• ECON-M524: Financial Econometrics

Thesis:

No thesis is required

Doctor of Philosophy (Ph.D.) in Economics

Admission Requirements

Twenty-five (25) credit hours of social science and business, including intermediate economic analysis. First-year differential and integral calculus and one semester of linear algebra are required for the Ph.D. and the M.A.  Deficiencies in economics must be removed without graduate credit. Graduate Record Examination General Test required.

Grades

At least a B (3.0) average in work taken for an advanced degree.

Fields of Study

Choices of fields offered for qualifying examinations must be approved by the Graduate Studies Committee. Fields of study currently available within the department are advanced economic theory, development economics, development and transition economics, econometrics, games and experimental methods, growth theory, industrial organization, international trade, macroeconomics, monetary economics, and public economics. In addition, a supporting field in finance is available in partnership with the Kelley School of Business. Information about other fields may be obtained from the Director of Graduate Studies.

Course Requirements

A total of 90 credit hours, including the theory sequence E520, E521, E522, E621, E622, and the econometrics-statistics sequence E571, E572, E671. All Ph.D. students join a workshop after passing their core theory exams. In addition, starting in their third year, students have to formally enroll in a workshop course for three semesters. There is a minimum requirement of 60 credit hours of course work. A minimum of 57 credit hours must be taken in economics. Up to 6 credit hours taken outside of the economics department in fulfillment of a supporting field approved by the DGS (such as finance) will count toward the 57 credit hours in economics.

Research-Skill Requirement

Proficiency in mathematics, operations and decision technologies, computer science, or econometrics/applied statistics. Courses used to fulfill a research skill requirement do not carry graduate credit.

Core Theory Examination

Core theory examinations in macroeconomics and microeconomics are taken at the end of the first year in residence. A maximum of two attempts will be permitted on each section. The exams are given in May, and retakes are administered later in the summer.

Qualifying Field Examinations

The Ph.D. candidate must successfully complete at least three fields: one primary field and two supporting (secondary) fields. With approval of the Director of Graduate Studies, one of the two supporting fields may be taken outside the Department of Economics. A qualifying examination must be taken in the primary field; courses in all fields must be passed with grades of B or better. Consult the economics department’s Graduate Study Guide for further information.

Third-Year Paper Requirement

Ph.D. students are required to write a substantial research paper before the end of the spring semester of their third year. The paper will be presented at a departmental conference at the end of April or the beginning of May of the third year. The goal should be that this paper is of sufficient quality to be the first essay of the dissertation.

Dissertation Proposal

The proposed research for the dissertation must be approved by the research committee and presented at a department workshop.

Final Examination

Oral defense of the dissertation.

Master of Arts (M.A.) Degree

(The department currently is not accepting students in this program.)

Admission Requirements

Twenty-five (25) credit hours of social science and business, including intermediate economic analysis. First-year differential and integral calculus and one semester of linear algebra are required for the Ph.D. and the M.A.  Deficiencies in economics must be removed without graduate credit. Graduate Record Examination General Test required.

Course Requirements

A minimum of 30 credit hours, 24 of which must be taken in the Department of Economics, including 9 credits of theory and 6 credits of statistics. A minimum of 18 credit hours of course work in economics must be numbered E500 or above. Consult the Director of Graduate Studies for specific courses. Up to 6 credit hours are allowable for a thesis. In lieu of writing a thesis, a student may complete 6 credit hours of course work (beyond the required 30 credit hours) in one of the following research skills: operations and decision technologies, computer science, mathematics, or econometrics beyond E572. Courses used to fulfill a research skill requirement do not carry graduate credit.

Master of Arts for Teachers (M.A.T.) Degree

(The department currently is not accepting students in this program.)

Admission Requirements

Twenty-five (25) credit hours of social science and business, including intermediate economic analysis. Deficiencies in economics must be removed without graduate credit. Graduate Record Examination General Test required. An individual study program of 36 credit hours will be developed for each student, normally including only courses that may be taken for graduate credit.

Doctor of Philosophy (Ph.D.) Minor in Economics

A candidate for a graduate degree in another department who elects to take Economics as an outside minor must take at least 12 hours of Economics from Indiana University Bloomington. Within these 12 hours, the candidate must take at least one semester each of Ph.D.-level microeconomic theory and macroeconomic theory. In most cases, ECON-E 521 and ECON-E 522 must be taken to meet these respective requirements. In exceptional cases approved by the Director of Graduate Studies, based on a student’s prior record, the ECON-E 521/ECON-E 522 requirement may be waived and the higher level ECON-E 621/ECON-E 622 will satisfy the micro/macro theory requirement.

Within the 12 hours, the candidate must also take six additional hours of courses which carry credit for graduate degrees in Economics as listed in the Graduate School Bulletin. These courses must be selected in consultation with the Director of Graduate Studies. All courses taken to satisfy the requirements for an outside minor in Economics must be passed with a grade of B (3.0) or better. A separate written or oral examination will not be required.

Microeconomic and macroeconomic theory courses which may be used toward the minor:

ECON-E 521 Theory of Prices and Markets I (Microeconomic Theory I)

ECON-E 621 Theory of Prices and Markets II (Microeconomic Theory II)

ECON-E 522 Macroeconomic Theory I

ECON-E 622 Macroeconomic Theory II