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Program Requirements and Areas of Concentration

 
 
Core Courses Areas of Concentration Electives, The AEA Summer Program,Choosing Courses, & The Master's Exercise PhD Students from Other PhD Programs Who Wish to Receive an MA in economics Course Syllabi

 

 

 
     
     

Duke’s Master’s program in Economics is exceptionally flexible, and is intended to permit students, together with the academic coordinator, to design an individualized program that meets specific needs. The Master’s Program in Economics is designed be completed in three semesters. The M.A. requires 30 credit hours of coursework, or 10 courses, with a curriculum of courses in economics and related fields designed by the student and the Master’s Coordinator to create an individualized program. Of these 30 credit hours, a minimum of 6 (2 courses) must be taken outside the Economics Department; at least 12 credits (4 courses) must be in Economics. In practice, many MA students will take far more than 30 credit hours: the objective is to gain mastery over a coherent body of material, rather than to simply pass a lock-step program or gain a certificate.
The Master’s program is designed to give students a breadth of economic experience in both macroeconomics and microeconomics, with an emphasis on mathematics, but with enough flexibility in course requirements to allow the students to pursue their own areas of academic interest. In addition to a variety of Master’s level courses, students in the program are welcome to enroll in doctoral level courses in Economics, with permission from the instructor, and other related departments such as Political Science, Public Policy, Finance, Statistics, and Mathematics as part of developing the student’s personalized program of study. The M.A. in Economics does not require a thesis; however, students are required to complete an academic exercise, which can be accomplished in two ways. One option is for students to produce a piece of original research, separate from classroom assignments, which allows them to evolve from a consumer of economic instruction to a producer of economic product. The alternative is an oral examination, covering the breadth of the candidate’s academic history in the program, depending on which area of concentration the student selects. The various areas of concentration and their requirements are discussed below.

Core coursesWhile there are no formal requirements beyond a master’s exercise and meeting credit requirements, students are expected to master core knowledge in economic theory, econometrics, and underlying mathematics. Specifically, all students are expected to take at least four courses among the following (more advanced substitutes also are permitted):

1. Microeconomic Theory (Econ 205)
2. Advanced Microeconomic Analysis (Econ 206)
3. Macroeconomic Theory (Econ 210)
3a. Growth Theory (Econ 261)
3b. International Monetary Economics (Econ 266)
4. Introduction to Econometrics (Econ 239)
5a. Applied Econometrics -- Microeconometrics (Econ 242) or
5b. Time Series Econometrics (Econ 220)
Students who have recently taken the equivalent of some or all of these courses are neither expected nor required to repeat them. However, the program does expect all regular students to take two economic theory and two econometrics or modeling courses. Students who lack a comprehensive background in multivariate differential and integral calculus, linear algebra, and differential equations, also are expected to take:
6. Mathematical Economics (Econ 276)

Students who matriculate into the M.A. program in Spring 2006 or later must have a minimum 3.0 overall GPA in order to take the oral exam option. Also, the student must have 30 graded credits of coursework. Should a student desire to have 24 graded credits and 6 ungraded credits (of either English language courses or ungraded research), he or she must complete the written academic exercise, and cannot take the oral exam option. All M.A. students must have a minimum of 30 credits total (with no more than 6 credits ungraded) in order to complete the M.A. degree.

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Areas of Concentration:

History of Political Economy(Professor Roy Weintraub, Director): Required courses: Econ 205; 206; 210; at least one econometrics course at the 200+ level. Completion exercise: approved written research project.

Law & Economics joint JD/M.A. program: Required courses: Econ 205; 206; 210, 266, or Growth Theory (MA level; number TBA); at least one econometrics course at the 200+ level. Completion exercise: (a) 6 additional hours at the 250+ level approved by the M.A. academic coordinator, with an oral examination based on this material, or (b) approved research project. More information

Financial Economics: Requirements: Econ 205; 210; at least two econometrics courses at the 200+ level. Completion exercise: (a) minimum of 24 graded credits and approved research project OR (b) 6 hours at the 201+ level, in addition to 257, in either Econ in related subject, approved by the MA academic coordinator, with an oral examination based on this material and minimum 30 graded credits. Expected classes: 257, 258, and Math 215.

Economic Analysis/PhD Preparation: Required courses: Econ 205; 206; 210; at least two econometrics courses at the 200+ level. Growth Theory (MA level; number TBA) is also recommended. Completion exercise: (a) 9 hours of Mathematics courses at the 120+ level approved by the MA academic coordinator, with an oral examination based on this material and minimum 30 graded credits OR (b) approved research project and minimum 24 graded credits. More Information

Applied Economics: Required courses: Econ 205; 206; 210 or Growth Theory (MA level; number TBA); at least two econometrics courses at the 200+ level. Completion exercise: (a) minimum 24 graded credits and approved research project OR (b) 6 hours at the 250+ level approved by the MA academic coordinator, with an oral examination based on this material and 30 graded credits.

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Electives, The AEA Summer Program, Choosing Courses, & The Master's Exercise
The Economics Department offers a wide range of electives, and the Master’s program also encourages its students to take related courses in other departments and colleges. Regular academic year Economics elective courses of particular interest include:
Econ 207 Models of Conflict & Cooperation
Econ 245 Urban Economics
Econ 248 History of Economic Thought
Econ 256 Health Economics
Econ 257 Financial Markets and Investments
Econ 265 International Economics
Econ 261 Evaluating Public Expenditures
Econ 268 Issues in Economic Development
Econ 270 Resource & Environmental Economics
Econ 278 Mathematical Economics II
Econ 285/385 Economic History
Econ 286 Economic Grow ht & Development Policy
Econ 287 Public Finance
Econ 288 Competitive Strategy & Industrial Organization
Econ 289 Applied Econometrics II


In order to determine requirements and to assist in course choice, students are required to declare a specific concentration at the time of their acceptance of an offer of admission (this should be done by email to the M.A. academic coordinator). The MA academic coordinator or an alternative academic advisor (the relevant concentration coordinator) will meet with all students prior to the start of first semester classes, and generate a course plan. Students also must inform the M.A. coordinator of their second year course intentions, and have those courses approved. M.A. students are allowed to take Ph.D.-level courses, but must obtain permission from the instructor, the MA academic coordinator and the Director of Graduate Studies from the relevant department.

To earn a Master’s degree at Duke, students also are required to complete a Master’s exercise. Historically, this exercise in Economics has consisted of a research project leading to a thesis-like document. Students have the option to register for up to 6 credit hours of independent research to meet credit requirements for the degree, but are not required to do so. Slightly fewer than half of students write a thesis: those emphasizing economic analysis, law and economics, or financial economics are no longer required to do so, and may take an oral examination instead. The M.A. academic coordinator must approve the Master’s exercise (either a paper or an approved alternative). Students choosing to write a paper should note that the only difference between the paper and a regular thesis is the lack of format checking by the Graduate School, and the absence of an oral defense. However, in place of the oral defense, master’s students are encouraged to present their papers at the M.A. seminar series.

Students writing a Master’s exercise paper must select a Chair by March 1 of their first year (September 1 for those entering in January), and a full three-person committee, if relevant, within 12 months of entry. Committee members must belong to Duke’s graduate faculty, and at least one committee member must be from the Department of Economics.

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Ph.D. students from other Duke Ph.D. programs who wish to receive an M.A. in Economics

All Ph.D. students enrolled at Duke University are entitled to one M.A. while in pursuit of their doctoral degree. Sometimes students from other programs at the university wish to earn a M.A. in a different department from the one in which they are pursuing a doctoral degree, typically in a field related to the discipline of their Ph.D. Should one choose to pursue a M.A. in Economics to supplement their Ph.D. in another program the following steps are required:

1. Meet with the Economics M.A. Program Coordinator to discuss your academic plan for the Master's.
2. Complete and submit the Graduate School's application to earn a M.A. degree in another discipline en route to the Ph.D. A copy of this application may be picked up from the Assistant to the Director of Graduate Studies in Economics. The form can also be found online at http://www.isds.duke.edu/programs/grad/ms/msapp.html. Even though it is listed on the Institute of Statistics and Decision Sciences, the Graduate School accepts this form for all departmental M.A. applications. The application includes a rationale for the intellectual relationship between the two programs, a transcript, and two letters of recommendation from Duke faculty speaking to and supporting the relationship between the doctoral and the Economics M.A.
3. The application must be completed and approved by the Directors of Graduate Studies of both the doctoral program and the M.A. program by September 30 for December receipt of degree, and February 28 for May degree bestowment.
4. Indicate which courses one will take to fulfill the M.A. program requirements. Any courses taken in the Ph.D. discipline one wishes to count towards the M.A. may not be counted for the Ph.D.as well. For doctoral students in other disciplines seeking a master's degree in Economics, course approval by the Economics M.A. program faculty coordinator is required.
5. Complete academic exercise and turn over to one's selected committee members a minimum of 1 month prior to the end of the semester in which you plan to receive your M.A. degree.

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Sample Course Syllabi

Below you will find links to syllabi from previous semesters. These syllabi are posted for examples of what the course covered in past semesters and are not necessarily guides for future classes.

Econ 205 Microeconomic Theory
Econ 206 Advanced Microeconomic Analysis
Econ 210 Macroeconomic Theory
Econ 220 Time Series Econometrics
Econ 239 Introduction to Econometrics
Econ 241 Applied Econometrics
Econ 245 Urban Economics
Econ 254 Macroeconomics
Econ 257 Financial Markets and Investments
Econ 258 Applied Financial Markets
Econ 266 International Monetary Economics
Econ 276 Mathematical Economics
Econ 288 Competitive Strategy and Industrial Organization
Econ 291 Economic World History

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