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The department of economics offers two graduate economics programs, one leading to the PhD and the other to the MA. Both are designed to prepare students for careers in business, government, or education and to give them ample opportunities for specialization in accordance with individual interests and goals. Holders of a bachelor's degree are invited to apply for admission. Applicants are generally required to have a 3.0 (B) undergraduate index and to be familiar with the undergraduate course content of intermediate macro- and microeconomic theory and with statistics. Applicants who have inadequate training in undergraduate economic theory will be required to take ECGA 5011 (Introduction to Economic Analysis) in addition to the requirements for the MA or PhD degree.
The MA Program
The MA program is structured to permit the student either to choose a general, non-specialized selection of courses or to select one of three areas of specialization. The specialized options are economics of financial economics, and international economics. Financial economics prepares students for careers as financial economists, training them to analyze the behavior of financial institutions and to evaluate the effects of regulation. A course in financial accounting is available. Students taking this option are able to acquire both the quantitative skills necessary for practical financial analysis and a general understanding of how security markets respond to financial innovations and the international integration of capital markets.
International economics demonstrates how economic-analytical tools can be applied to business and public-policy problems that arise through foreign trade, investment, development assistance, and capital flows. The content of courses reflects the dramatic changes that are occurring in the world economy?e.g., the growth of multinational enterprise, new exchange-rate practices, accelerated global inflation, altered development prospects, and new conflicts between the forces of interdependence and national sovereignty. This option is tailored particularly to those who plan to pursue careers in multinational business, international banking, or international public administration.
Degree requirements: The MA degree normally requires satisfactory completion of 10 courses (30 credits) including ECGA 6010 (Price Theory I), ECGA 6020 (Macroeconomic Theory I), either ECGA 6910 (Applied Econometrics) or ECGA 7910
(Econometrics I), and ECGA 5710 (Mathematics for Economists I) or a higher-numbered ECGA mathematical economics course. Students who do not have adequate training in economic theory may be required to take ECGA 5011 (Introduction to Economic Analysis) in addition to the 30-credit MA program. MA candidates must maintain a B average in their course work and pass a three-hour written certification examination based on the course work in ECGA 6010 and ECGA 6020. Students are exempt from the MA certification examination if they take and pass the PhD certification examination in economic theory. Full-time students are usually able to complete the MA within a 12-month period.
An interdisciplinary MA in international political economy and development (IPED) is offered jointly by the departments of economics, political science, and sociology. For de tails, see section on the program in international economy and development. For description of core economics courses, see listing of economics courses under International Political Economy and Development.
The PhD Program
The PhD program in economics prepares students for positions as economists in the private, public, and non-profit sectors, as well as for academic positions. The department offers a balanced graduate program that combines studies in economic theory, quantitative methods, and specialized functional fields. There are five fields of concentration: development economics, financial economics, international economics, monetary economics, and industrial organization.
Degree requirements: Candidates for the PhD degree must complete 60 credits (20 courses) beyond the bachelor's degree, including at least 30 credits (10 courses) beyond the master's degree (not including credits for courses required for the MA). Of the 20 courses required for the PhD, candidates must complete ECGA 6010/7010 (Price Theory I and II), ECGA 6020/7020 (Macroeconomic Theory I and II), ECGA 7910/7920 (Econometrics I and II), and ECGA 5710/6710 (Mathematics for Economists I and II) or a higher-numbered ECGA mathematical economics course. PhD candidates must maintain a B+ average in course work. Full-time students can expect to complete the course work toward the PhD within a
two-year period.
Candidates must certify in economic theory and in three of the five optional fields of concentration through examination. Certification in economic theory and two of the fields is done through written examination; certification in the third field is achieved by receiving a B+ or higher in the course work in that subject. Each examination ma y be repeated once.
Fordham University at Rose Hill Bronx, New York, 10458 (718) 817-1000
