- Academics
- Quick Links
Professor Kamal Saggi, Department Chair
Professors: Raveendra Batra, Rajat Deb, Tom Fomby, Kathy Hayes, Esfandiar Maasoumi, Santanu Roy, Kamal Saggi, Daniel Slottje, Shlomo Weber; Associate Professors: Daniel Millimet, Thomas Osang; Assistant Professors: Pedro Amaral, Bo Chen, Kyle Hyndman, Isaac Mbiti, Saltuk Ozerturk.
Applicants for the M.A. Law and Economics Track must already have the J.D. degree or be students in the Dedman School of Law in addition to the admission requirements for the M.A. degree.
Required Courses. ECO 6371 (Introduction to Quantitative Economics), ECO 6384 (Microeconomic Theory I) and ECO 6394 (Macroeconomic Theory I) must be completed with a grade of C or better.
Credit Hours. Every student must earn at least 30 term hours in an approved program of study.
Grade Point Average. Every student must maintain a cumulative B (3.00) average in courses taken in the degree program.
Thesis and Master’s Papers. A student must submit either a master’s thesis or two approved master’s papers.
Qualifying Examination. Upon completion of the course work and the acceptance of the thesis or the papers, the student must pass an oral examination given by a faculty committee.
Residence. A residence of at least nine months in the regular sessions is required.
Students pursuing a Ph.D. program are qualified to receive the M.A. degree after having fulfilled the following requirements: a) passing the written qualifying examination in microeconomic theory and macroeconomic theory and b) completing 30 term hours of courses in their program.
The curriculum for a Master of Arts in economics – applied
economics trackis customized to suit the needs of an economist as a graduate
student pursuing a career in a business or financial institution or government
agency, or as a senior manager who must analyze the external economic forces
affecting a firm and factor them into corporate decisions. The program emphasizes
the application of economic theory with quantitative skills and computer literacy
as required by corporations and financial institutions in their economic decision-making
processes. A rigorous theoretical economic framework is established for the
study of government policy and the growing openness of the U.S. economy to
foreign competition and economic events. At the same time, mathematical rigor
is not compromised. The necessary concepts are developed from the basics, but
at a more deliberate pace than in a Ph.D. program. Since many candidates for
this degree plan prefer to pursue a degree while employed, many courses in
the degree plan are scheduled for evening hours.
Students take three required core courses in economics that form the building
blocks for further study and analysis in economics. Another three required
courses provide applied training in econometrics and microeconomic analysis.
Six additional courses are needed to complete the degree, two of which must
be 6000-level courses.
ECO 5350. Introductory Econometrics.
ECO 6381. Economic Analysis I. (microeconomics)
ECO 6382. Economic Analysis II. (macroeconomics)
Required Applied Economics Courses
ECO 5375. Business and Economic Forecasting.
ECO 6352. Applied Econometric Analysis.
ECO 6383. New Approaches to Managerial Economics.
Six of the following courses (two of which must be 6000 level)
ECO 5337. Urban Economics.
ECO 5340. Decision Making Under Uncertainty.
ECO 5341. Strategic Behavior.
ECO 5353. Law and Economics.
ECO 5355. Political Economics.
ECO 5357. Economics of Human Resources.
ECO 5359. Microeconomic Development.
ECO 5360. Macroeconomic Development.
ECO 5361. Natural Resource and Energy Economics.
ECO 5362. Economic Growth.
ECO 5365. Public Finance.
ECO 5370. Cost Benefit Analysis.
ECO 5385. Data Mining Techniques for Economists.
ECO 5390. Mathematical Finance.
ECO 6320. Applied Monetary Theory and Policy.
ECO 6330. Exchange Rates and International Capital Markets.
ECO 6331. International Trade.
ECO 6333. Trade Policy and the World Trading System.
ECO 6337. Emerging Markets.
ECO 6339. Topics in International Economics.
Some courses are offered in sequence, which means they are not offered every term.
Credit Hours. Every student must earn at least 36 term hours in an approved program of study. This plan does not require a master’s thesis or master’s papers. A comprehensive final exam is required.
Grade Point Average. All courses must be completed with a grade of C (2.00) or better and a B (3.00) average in all the courses taken in the program.
This curriculum is designed for students who wish to deepen their understanding of the changing global economic environment. Equal emphasis is placed on theory and practice in international economics. All of the entrance requirements for the M.A. in economics – applied economics track hold for this degree plan. Students take three core courses in economic and quantitative analysis, and these serve as the building blocks for further study and analysis in economics. The three required international courses provide students with the necessary background in theory and practice of international trade, finance and policy. Students can pursue special interests in international economics through elective courses.
ECO 5350. Introductory Econometrics.
ECO 6381. Economic Analysis I. (microeconomics)
ECO 6382. Economic Analysis II. (macroeconomics)
ECO 6331. International Trade.
ECO 6330. Exchange Rates and International Capital Markets.
ECO 6333. Trade Policy and the World Trading System.Three of the following economics courses:
ECO 5360. Economic Development.
ECO 5375. Business and Economic Forecasting.
ECO 5385. Data Mining Techniques for Economists.
ECO 6339. Topics in International Economics.
ECO 6337. Emerging Markets.
ECO 6352. Applied Econometric Analysis.
Nine hours (three courses) of free electives
Credit hours. Every student must earn at least 36 credit hours in an approved program of study. This plan does not require a master’s thesis or master’s papers. A comprehensive final exam is required.
Grade point average. All courses must be completed with a grade of C (2.00) or better and a B (3.00) average over all the courses taken in the program.
The curriculum for a Master of Arts in economics – law and economics track is customized to suit the need of lawyers for more knowledge of economics, particularly applied microeconomic analysis of problems commonly encountered by lawyers and judges, and includes econometric analysis often encountered by the courts from expert witnesses on both sides of a case.
Because many candidates for this degree plan prefer to pursue a degree while actively engaged in the practice of law, most courses in the degree plan are scheduled for evening hours.
Students with J.D. degrees working toward the M.A. will follow this 36-hour non-thesis plan. Students currently in law school will be permitted to substitute nine hours of approved law school credit as electives. All students are required to take at least six hours at the 6000 level.
ECO 5341. Strategic Behavior.
ECO 5350. Introductory Econometrics.
ECO 5353. Law and Economics.
ECO 6352. Applied Econometric Analysis.
ECO 6381. Economic Analysis I.
ECO 6383. New Approaches to Managerial Economics.
ECO 5337. Urban Economics.
ECO 5340. Decision Making Under Uncertainty.
ECO 5357. Economics of Human Resources.
ECO 5360. Economic Development.
ECO 5361. Natural Resource and Energy Economics.
ECO 5362. Economic Growth.
ECO 5365. Public Policy Toward Business.
ECO 5370. Cost-Benefit Analysis.
ECO 5375. Economic and Business Forecasting.
ECO 5385. Data Mining Techniques for Economists.
ECO 6320. Applied Monetary Theory and Policy.
ECO 6330. Exchange Rates and International Capital Markets.
ECO 6382. Economic Analysis II.
ECO 6390. Regional Economic Analysis.
Credit Hours. Every student must earn at least 36 credit hours of an approved program of study. This plan does not require a master’s thesis or master’s papers. A final exam is required.
Grade Point Average. All courses must be completed with a grade of C (2.00) or better and an overall B (3.00) average for all courses taken in the degree program.
The major requirements for the Ph.D. degree consist of passing certain qualifying examinations and writing an acceptable dissertation. Other requirements include specific courses, credit hours, G.P.A. and residence. All of these are briefly described below.
Every student must pass written qualifying examinations in microeconomic theory and macroeconomic theory. Students will normally take these exams following the end of the second term in the program.
Two fields are required. Each field involves at least six hours of 7000-level course work in a specified area and must be completed with at least a B in each course. Preprospectus Workshop (ECO 7304) or Introduction to Applied Econometric Methods (ECO 6375) can be used, with the prior approval of the director of graduate studies, to count towards three hours of one six-hour field requirement. Taking a secondary field in financial economics does not constitute a field for the purpose of satisfying these requirements.
The student must pass qualifying examinations and complete the field requirements before beginning work on the dissertation. This work proceeds in two stages. In the first stage, the student prepares a dissertation prospectus, to be presented before a faculty committee upon completion. In the second stage, after the prospectus is approved, the student begins formal work on the dissertation. The student must defend the completed dissertation at a final oral examination.
Every Ph.D. student must earn a minimum of 48 credit hours in an approved program of study with an additional 12 credit hours of dissertation. The 48 hours exclude 8000-level courses such as dissertation research. The courses required of an entering Ph.D. student with no transfer credit are listed in the following sample program. Any course taken as an elective must be at the 5000 level or above and must be approved by the director of graduate studies. Up to 24 credit hours of graduate course work may be transferred from another institution upon approval by the department and the graduate dean. The field requirements must be completed within four years from the date the student enters the graduate program. The dissertation must be completed within eight years from the date the student enters the graduate program.
Students pursuing a Ph.D. degree are required to maintain good standing by being enrolled in at least one credit course per term. ECO 8100, which carries one credit hour, may be used for this purpose at the thesis stage. In some cases, ECO 8000 may be used for this purpose if approved by the chair.
Every Ph.D. candidate must be in residence at SMU for at least one academic year.
First Year
Fall
ECO 6371. Introduction to Quantitative Economics.
ECO 6372. Introduction to Econometrics.
ECO 6384. Microeconomic Theory I.
ECO 6394. Macroeconomic Theory I.
Spring
ECO 6374. Econometrics.
ECO 6385. Microeconomics II.
ECO 6395. Macroeconomics II.
Students must take the qualifying examinations in microeconomic theory and macroeconomic theory at the end of the spring term.
Second Year
Fall
ECO 6375. Introduction to Applied Econometric Methods.
Field Course I.
Field Course II.
Spring
Field Course III.
Field Course IV.
Topics in Economic Theory. (or other elective)
Third and Fourth Years
All Ph.D. candidates must take ECO 7004 or 7304 (Preprospectus Workshop) by the end of the third year and, in so doing, must write and present a literature review paper to the faculty and graduate students. Ideally, this paper will be in the area in which the student proposes to do dissertation research. This course is intended to prepare the student for an eventual dissertation prospectus presentation and to help the student become accustomed to seminar presentation. Additional field courses or electives may be taken to complete the 48-hour requirement.
5301. Topics. (Specific topic will be named in title.)
5337. Urban Economics. Analyzes current issues in urban economics from the perspective of economic theory. Prerequisites: ECO 3301 or permission of the instructor.
5340. Decision Making Under Uncertainty. Provides a basis for the modeling of decision making under conditions of incomplete information. Prerequisites: ECO 3302, calculus and basic statistics or probability.
5341. Strategic Behavior, Game Theory and Applications to Economics. Uses the tools of game theory to examine the elements of strategic behavior of various economic agents, e.g., firms, consumers or government. Prerequisites: ECO 3301 and one term of calculus.
5350. Introductory Econometrics. Discusses the economic analysis of quantitative data and introduces computer analysis. Prerequisites: STAT 2301 or 4340 or ITOM 2305; MATH 1309, 1337 or 2337; and ECO 3301 or permission of the instructor. Cannot be taken after ECO 4350.
5353. Law and Economics. Provides a framework for and undertakes the analysis of the economic impact of the law. Prerequisite: ECO 3301 or equivalent.
5355. Political Economics. Both methods and applications of political economics models via theoretical and empirical investigation of various topics with emphasis on asymmetric information, income redistribution and fairness, federalism and formation of institutions and strategic behavior of special interest groups. Prerequisites: Undergraduates must have taken ECO 3301 Intermediate Microeconomics or equivalent course.
5357. Economics of Human Resources. The economics of investment in human resources like education and health. Prerequisites: ECO 3301 and MATH 1309, 1337 or 2337 with ECO 4351 recommended.
5359. Development: A Microeconomic Perspective. A microeconomic examination of various economic issues faced by developing countries. Includes intrahousehold resource allocation, rural and urban labor markets, migration, and credit and insurance markets. Prerequisites: Undergraduates must have taken ECO 3301 Intermediate Microeconomics or equivalent course.
5360. Economic Development: Macroeconomic Perspectives. A macroeconomic examination of the economic issues faced by developing countries. Includes population growth, national savings, capital accumulation, human capital formation, government institutions and international integration. Prerequisites: Undergraduates must have taken ECO 3301 Intermediate Microeconomics and ECO 3302 Intermediate Macroeconomics or equivalent courses. (Note: Students who have taken ECO 5360 prior to fall 2007 under its former title “Economic Development” may not retake this course.)
5361. Natural Resources and Energy Economics. Discusses natural resource supply and demand, nonrenewable natural resources and fundamentals of the energy market. Prerequisites: ECO 3301, 3302.
5362. Economic Growth. The facts and theories of economic growth and technological change, as well as the role of governments and markets in promoting or impeding economic growth. Prerequisites: ECO 3301, 3302.
5365. Public Finance. Analyzes the financial management of public bodies from local to federal governments. Prerequisites: ECO 3301, MATH 1309 or 1337 and STAT 2301 or ITOM 2305. ECO 3302 is recommended.
5370. Cost-Benefit Analysis. The economic foundations of modern cost-benefit analysis in government and industry. Prerequisite: ECO 3301 or graduate standing.
5375. Economic and Business Forecasting. Presentation of methods used by economists to forecast economic and business trends and ways of evaluating these methods. Prerequisite: STAT 2301 or ITOM 2305 or equivalent course.
5380. Computing for Economics. Discusses economic analysis with emphasis on the use of programs and computer packages. Includes software assessment for use in economics, statistics software applications in economics, matrix language packages, computer algebra and linear programming applications. Prerequisite: Undergraduates must have permission of the instructor.
5385. Data Mining Techniques for Economists. A study of data mining techniques used by economists in the fields of applied economics, marketing and finance. Includes classification methods, affinity analysis and data reduction and exploration methods. Prerequisite: ECO 5350 or 5375 or equivalent course.
5390. Mathematical Finance: Theory and Applications. A study of selected finance topics (such as capital asset pricing, options and their valuation) that combine theory with actual applications in the financial profession. Prerequisites: ECO 5350 Introductory Econometrics or equivalent course, ECO 4378 Financial Economics (or FINA 4326) and ECO 4368 Introduction to Financial Economics (or FINA 4325).
6352. Applied Econometric Analysis. Applications of econometric methods in various branches of economics. Prerequisite: ECO 5350 or permission of the instructor.
6383. New Approaches to Managerial Economics. Recent developments in information theory, multiproduct analysis and principal-agent theory. The purpose of this course is to show how these developments can be usefully applied in management decision making. Prerequisite: ECO 6381 or permission of the director of graduate studies.
6371. Introduction to Quantitative Economics. Prepares the first-year graduate student for the study of economic theory and econometrics. Covers topics in mathematics and probability that are widely applied in economic theory and econometrics. Prerequisite: Graduate standing or permission of the instructor.
6381. Economic Analysis I. Focuses on analysis of basic models of the firm under purely competitive markets and monopolistic competition and simple consumer behavior models. Employs basic mathematical tools such as calculus. Credit for this course cannot be applied toward an M.A. with thesis or a Ph.D.
6382. Economic Analysis II. Presents analysis of basic national income models and various modifications of these models. Credit for this course cannot be applied toward an M.A. with thesis or a Ph.D. Prerequisite: ECO 6381 or permission of the instructor.
6384. Microeconomic Theory I. Basic theories of the firm under competitive and monopolistic conditions and basic theory of consumer behavior.
6385. Microeconomic Theory II. Extensions of topics covered in ECO 6384, including monopolistic competition, intertemporal optimization, behavior under uncertainty and welfare economics. Prerequisite: ECO 6384.
6386. Microeconomic Theory III. Uses game theory to introduce students to the strategic aspects of some of the economic models developed in Microeconomic Theory I (ECO 6384) and Microeconomic Theory II (ECO 6385). Game theory also is used to formulate and solve new problems and analyze new economic models. Prerequisite: ECO 6385.
6387. Microeconomic Theory IV. Examines a variety of advanced topics that are not covered in the first three microeconomic theory courses (for example, stochastic methods, general equilibrium theory, welfare economics and/or dynamic models). Prerequisite: ECO 6386.
6390. Regional Economics. An introduction to the theories of regional economics and to the principal methods of regional analysis including economic base, shift-share, input-output, econometric and time series approaches. Prerequisites: ECO 6381, 6382.
6394. Macroeconomic Theory I. Discusses basic theories concerning the determination of national income, employment, consumption, investment and the general price level.
6395. Macroeconomic Theory II. Provides theoretical and empirical underpinnings for macroeconomic models of the economy, with an emphasis on economic policy. Prerequisite: ECO 6394.
6396. Macroeconomic Theory III. Covers recent developments in the related areas of business cycle theory, monetary theory, asset pricing and open economy macroeconomics. Prerequisite: ECO 6395.
7302. Topics in Economic Theory. Examines selected topics to complement the material in the micro and macro sequence.
7305. Mathematical Economics. Applies mathematical tools to various economic problems.
7306. Advanced Economic Theory. Presents a variety of advanced topics in theory not covered in the core theory sequence. For example, uncertainty or applied economic theory.
Selected courses at the 6000 level offered by the Edwin L. Cox School of Business are accepted toward a secondary field.
A secondary field in financial economics can be pursued in conjunction with two graduate courses offered by the finance department at the University of Texas at Dallas (Course I: Options and Futures and Course II: Theory of Asset Pricing). Interested students should consult with the director of graduate studies.6330. International Economic and Financial Environment. Operation of the foreign exchange markets, balance of payments adjustments, the international equilibrium system and international aspects of economic policymaking. Employs mathematical modeling as appropriate and requires some research using methods of quantitative analysis. A student cannot receive credit for both ECO 6330 and 7332. Prerequisites: ECO 6381, 6382.
6331. International Trade. Surveys the major theories of world trade. Analyzes the empirical evidence regarding these theories. Develops a framework for the analysis of trade policy instruments such as tariffs, quotas and VERS. Prerequisite: ECO 6381.
6333. Trade Policy and the World Trading System. Surveys the major institutions of world trade. Analyzes the political economy of trade policy in major trading countries in conjunction with the rules of world trade, as defined by the agreements of the WTO and the agenda of the World Bank and the IMF. Prerequisites: ECO 6331, 6330 or permission of the instructor. May be taken concurrently with ECO 6330.
6339. Topics in International Economics. Examines selected topics in international economics. Applies concepts and tools developed in the core international trade and finance and policy courses to topics that are of current special interest and typically not covered in detail in the core courses. Prerequisites: ECO 6330, 6331. May be taken concurrently with ECO 6333.
7332. International Macroeconomic Theory and Policy. Discusses concepts of balance of payments equilibrium, responses to disequilibrium, national economics policies affecting international payments and past, present and proposed international financial institutions.
7333. Theory of International Trade and Factor Movements. Determinants of regional specialization, gains from trade and theoretical analysis of factor movements and of policies affecting the interspatial movement of goods and persons.
6337. Emerging Markets. Applies economic analysis to the particular problems facing newly industrialized countries and countries in transition from centrally planned to market economies. Evaluates the role of the government as well as political and legal institutions for the economic success or failure of emerging markets. Prerequisites: ECO 6330, 6331 or permission of insructor. May be taken concurrently with 6333.
7334. Development Economics. Applies economic theory to developing economies, including population and household economies, agriculture, industry, international trade and factor movements and investment project evaluation. To complete this field, the student also must take ECO 7332, 7333.
7321. Theory of Labor Economics. Covers theories and empirical testing of hypotheses concerning the behavior of labor markets.
7322. The Development of Human Capital. Discusses theories concerned with the investment in human capital and its impact on economic growth.
6372. Introduction to Econometrics. Provides economists with the essential skills required to advance through the various areas of specialization in econometrics. Prerequisite: ECO 6371 or equivalent.
6374. Econometrics. Examines econometric theory and methods with emphasis on the multiple regression model and its extensions. Prerequisite: ECO 6372.
6375. Introduction to Applied Econometric Methods. An overview of econometric methods used in empirical economic research with emphasis on econometric methods used in macroeconomics and microeconomics. Prerequisite: ECO 6374.
7075, 7275. Econometrics Workshop. Examines new developments in applied and theoretical econometrics, time series analysis and related mathematical and statistical topics. Faculty and students will present and discuss their latest research findings in econometrics in some sessions. Prerequisite: ECO 6374 or higher.
7377. Econometric Theory and Methods. Advanced econometric theory and methods, including asymptotic theory and other selected topics.
7378. Applied Econometrics Methods. Applies econometric methods to empirical areas of economics.
6320. Applied Monetary Theory and Policy. Covers operation of the banking sector, demand for money and control of its supply and economic policymaking by the Federal Reserve and its importance for business decision making at senior levels. A student may not receive credit for both ECO 6320 and ECO 7361 or 7362. Prerequisites: ECO 6381, 6382.
7361. Monetary Economics. Analyzes various theories on the role of money in economic systems and the impact of the money market on economic aggregates and the price level.
7362. Monetary Theory and Policy. Discusses monetary institutions and the impact of monetary policies on the different segments of the economy.
7341. Market Structure, Conduct and Performance. Studies the relationships between various market structures and their impacts on economic performance.
7342. Imperfect Markets: Theory and Policy. The study of models of imperfect markets, antitrust laws and other trade regulations and their effects on economic performance.
7351. Public Finance Theory and Policy. Covers theory and policy of taxation and public expenditures.
7352. Public Finance at Local Levels. Discusses fiscal problems of states and metropolitan areas.
6101. Internship for Master’s Students. With approval from a faculty sponsor and the director of graduate studies, eligible students will analyze economic problems appropriate to the interning firm or organization. In addition, at the end of the term, the student must write a short report about his or her experience under the supervision of the faculty sponsor and the director of graduate studies. This course can be taken only twice. Prerequisite: 3.0 G.P.A. in economics classes.
6398. Research and Thesis Seminar. M.A. candidates.
7101, 7201, 7301. Readings in Economics.
7004, 7304. Preprospectus Workshop. Analyzes research strategies of seminar speakers, faculty members and students. Each student must present a paper directly related to his or her own prospectus.
8000, 8100, 8398, 8698, 8998. Dissertation Research. Ph.D. candidates.
8101. Internship for Ph.D. Students. With approval from a faculty sponsor and the director of graduate studies, eligible students will analyze economic problems appropriate to the interning firm or organization. In addition, at the end of the term, the student must write a short report about his or her experience under the supervision of the faculty sponsor and the director of graduate studies. This course can be taken only twice. Prerequisite: 3.0 G.P.A. in economics classes. The student should be a 3rd or 4th year Ph.D. student who has earned 48 credit hours in the program.
8399, 8699, 8999. Dissertation Research. Ph.D. candidates.
© Southern Methodist University, Dallas, Texas | Legal Disclosures | A-Z Site Index | Contact SMU
Share