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MA and PhD in Economics, MS in Economics and Applied Econometrics, MA in Economics and Entrepreneurship for Educators, PhD in Economic Education, and Dual MA in Economics/MBA
The Department of Economics offers programs leading to PhD, MA, and MS degrees in Economics, and combined MA/MBA degrees. In addition, the Department offers a Master of Arts in Economics and Entrepreneurship for Educators and an MA and PhD in Economic Education. The PhD, MA, and MS programs emphasize applied economics with areas of specialization including econometrics, international economics and development, industrial organization, labor economics, applied macroeconomics, public economics, financial economics, environmental economics, and regional economic development. The MA/MBA program combines applied economics with traditional MBA skills. The MA and PhD in Economic Education are designed to train professionals in the field of economic education.
The curricula provide students with a balance between a core of microeconomic, macroeconomic, and econometric theory and a wide variety of applied courses. These programs are designed to prepare individuals for professional careers involving the application of economic analysis in both the public and private sectors, including academia.
The MA program in Economics and Entrepreneurship for Educators is designed to provide secondary and primary school teachers with both a foundation in economic theory and a set of strategies and methods for teaching economics in secondary and elementary schools. The program is designed to train teachers who have been identified as exceptional teachers in their region. Graduates of the program are expected to provide economic education leadership in their state and region.
Requirements for Admission
Prospective students should consult the Graduate Admissions chapter of this catalog for admission procedures. The dates for application submission are July 1 for Fall admission. Students seeking financial aid should complete their applications by February 15. Admission to graduate programs in the Department of Economics is selective and competitive based on the number of well-qualified applicants and available capacity. Those who meet stated minimum academic requirements are not guaranteed admission; nor are those who fail to meet those requirements necessarily precluded from admission if they offer other appropriate strengths.
Dual Master of Arts in Economics and Master of Business Administration Degree. Applicants are expected to have at least a 3.0 (on a 4-point scale) undergraduate grade-point. In addition, applicants should have a score of at least 155 (quantitative only) on the Graduate Record Examination Aptitude Test or score at or above the 69th percentile on the quantitative part of the Graduate Management Admission Test. Foreign students must achieve a score of at least 90 on the IBT version of the TOEFL. While graduate courses do not require extensive prerequisites, students must have an adequate background in economics, calculus, and statistics. Applicants for the MBA/MA dual degree must also meet the MBA program admission criteria.
Master of Arts in Economics and Entrepreneurship for Educators. The program is open to educators who: (1) meet admission requirements of the Office of Graduate and Professional Education of the University of Delaware (official transcripts of all undergraduate work are required), (2) have completed a minimum of three semester hours in economics, (3) hold a current teaching certificate and have a minimum of three years of experience, and (4) are nominated by the Council or Center Director for Economic Education in their geographic region.
Master of Science in Economics and Applied Econometrics and PhD in Economics Degree. For admission to these programs, students must have demonstrated a high level of potential to do independent research at the doctoral level. Students are expected to score at least 156 (revised scale as of August, 2011) on the quantitative portions of the GRE exam or the equivalent on the GMAT. In cases where English is a second language, applicants are expected to score at least 100 on the IBT version of the TOEFL exam. A grade point average of at least 3.5 in economics courses is expected with emphasis placed on core courses and on course selection. Attention will also be given to courses that the applicant has taken in related disciplines. All applicants must submit at least three letters of recommendation from economics faculty who can comment explicitly upon the applicant's ability to do graduate-level work. Students seeking admission to the PhD program must also demonstrate a high level of potential to do independent research. Continuation in the PhD program requires a M.S. in Economics and Applied Econometrics from the University of Delaware, or Master's Equivalency, as determined by the Department's Graduate Committee. An MBA degree is not considered to be equivalent to a master's degree in economics. Each student's requirements for satisfying the master's equivalency will be established by the Graduate Committee. Qualified applicants who have not met the Master's Equivalency requirement at the time of admission are required to do so while at the University of Delaware in order to continue in the PhD program.
Master of Arts and PhD in Economic Education. Students will be admitted to the program based upon enrollment availability and their ability to meet the following minimum recommended entrance requirements: Baccalaureate degree from an accredited college or university; GRE score of at least 156 (revised scale as of August, 2011) on math; an undergraduate GPA of 3.0 or higher; an officially reported minimum TOEFL score of 600 (paper-based test) or 250 (computer-based test) or 100 (IBT), (alternately, applicants may submit scores from the IELTS test; a minimum score of 7.0 is required); and a written statement of goals and objectives, including a statement that clearly identifies the applicant's interest in the program. Coursework in microeconomics and macroeconomics at the intermediate level or above and in statistics and mathematics (calculus) is expected. Otherwise qualified students who lack this background may be directed to appropriate coursework to remedy this deficiency. Continuation in the PhD in Economic Education requires a M.S. in Economic Education from the University of Delaware, or its equivalent, as determined by the Graduate Committee.
Requirements for Degrees
All degrees except the MA degree for teachers require a written comprehensive examination and completion of a capstone experience. Students may satisfy some elective course requirements for all degrees with a variety of graduate-level courses from other disciplines.
Master of Arts. The MA degree requires 30 credit hours of graduate work, nine of which are in three required courses: microeconomics, macroeconomics, and econometric theory. Students must also demonstrate a capacity for economic research by completing a 6-credit thesis or a 3-credit research project.
Master of Arts in Economics and Entrepreneurship for Educators. The MA degree requires 30 credit hours of graduate work, 18 of which are in five required areas: microeconomics, macroeconomics, monetary and international trade theories, contemporary economic issues, and curriculum strategies. In addition, candidates must design and implement an economic education program. A public policy or research paper is also required.
Master of Science in Economics and Applied Econometrics. The MS degree requires 30 credit hours of graduate work, 18 of which are in six required courses: Microeconomic theory, Macroeconomic theory, three Econometrics courses, and a capstone research experience (research project or research-oriented advanced topics course).
Dual Master of Arts and Master of Business Administration. The MA/MBA degree requires 57 credit hours of graduate work in economics and business. Students must meet the core requirements for both the MA and MBA programs. By allowing elective courses to count for both programs, the combined MA/MBA degree represents a significant savings over taking two separate degrees.
Doctor of Philosophy in Economics. Doctoral students must complete 20 credits of approved graduate courses and a 9-credit thesis in addition to the requirements of the M.S. in Economics and Applied Econometrics or the MS Equivalency. Students must pass preliminary exams in Microeconomic and Macroeconomic theory and a field exam in a major field of study. Students choose a thesis committee consisting of a thesis adviser, two additional faculty members from the Department of Economics, and a faculty member whose primary appointment is in a department other than Economics. To be considered a doctoral candidate, a student must successfully defend a proposal outlining the nature of the work to be done for the dissertation. The dissertation must represent a significant advance in the body of economic knowledge and must be defended before the student's dissertation committee and the University Community.
Master of Arts in Economic Education. The MA degree requires completion of 31-34 credits and includes required courses in both Education and Economics. Students must pass examinations in Economics, including mathematical proficiency, Microeconomic Theory, and Macroeconomic Theory, and an examination in Education based on the first year Education Proseminar courses. No students will be admitted directly into the MA program in Economic Education. It is intended 1) to provide an appropriate exit degree for students who are unable to complete the PhD in Economic Education for extenuating personal reasons and 2) as a requirement for continuation in the PhD program.
Doctor of Philosophy in Economic Education. The Doctor of Philosophy in Economic Education requires an MA in Economic Education from the University of Delaware or Masters Equivalency plus 23 credits of graduate-level coursework and 9 credits of dissertation. Students must pass a comprehensive field exam in Economic Education. The dissertation committee shall include three University faculty from the Department of Economics and the School of Education, with at least one member from each unit, and a fourth member from outside of the program. To be considered a doctoral candidate, a student must successfully defend a proposal outlining the nature of the work to be done for the dissertation. The dissertation must represent a significant advance in the body of economic knowledge and must be defended before the student's dissertation committee and the University Community.
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