Why a Master's degree in Economics & Finance?
A Master's degree in Economics and Finance served students' career
goals in a number of ways. Graduates of the Master's program have
successfully entered a variety of career paths. For example, some
serve as financial analysts in corporate headquarters, investment
houses, and brokerage firms. Others are employed in research and
supervisory positions in marketing research firms, public utilities
and regulatory agencies, state budget and revenue offices, and federal
government agencies. Graduates have been admitted to doctoral programs
and prestigious law schools. Several SIUE alumni are instructors
or administrators at community colleges, liberal arts colleges,
and universities.
Why at SIUE?
Southern Illinois University at Edwardsville
offers a Master's degree in Economics and Finance with attractive
features that are not available at many other institutions. These
features include:
- Small classes to ensure interaction with a faculty
recognized for quality research and leadership in professional
organizations.
- An internationally known program, drawing applicants from Europe,
Africa, South America, and Asia.
- Accreditation by the AACSB through the SIUE School of Business.
- Practical professional experience through interships with firms
in the St. Louis metropolitan area.
Degree Programs
The Department of Economics and Finance offers programs leading
to a Master of Arts (M.A.) degree in Economics
and Finance and a Master of Science (M.S.)
degree in Economics and Finance. Both degree programs require
a common core curriculum followed by emphasis in either Applied
Economics or Finance. The M.A. degree program
is intended for the student who wishes to pursue further academic
work leading to a Ph.D., D.B.A., law or other professional degree,
or to pursue a career of teaching at the community college level.
The M.A. program provides a solid foundation
in economic and finance theory and research methodology, both of
which are valuable to successful doctoral studies. The MA curriculum
also provides a solid foundation for students interested in attending
law school, especially in tax, antitrust, corporate (mergers and
acquisitions), or securities law specialties.
The program leading to the M.S. degree is
designed for students interested in pursuing a professional career
in business or government upon graduation. Emphasis is on development
of expertise in applying the concepts and methodology of economics
and finance. The program's flexibility enables a student to acquire
the skills required to work at a variety of firms in the financial
industry, such as commercial and investment banks, brokerage houses,
mutual funds, life and health insurance companies, real estate investment
trusts, pension funds, and corporate finance departments of non-financial
firms. The training our M.S. graduates receive also is useful for
students employed as business or government economists. Business
economists prepare forecasts, perform cost analysis and market studies,
develop and evaluate pricing strategies, and assist in corporate
planning. Students will also find that this degree prepares them
well for many positions with government agencies, particularly those
offices addressing budget, revenues, debt management, forecasting,
economic development, or regulatory issues.
Admission
Applicants for unconditional admission to the M.A.
or M.S. program are required to meet the minimum
admission requirements of the Graduate
School and to have an undergraduate degree with a major or minor
in economics or finance from an accredited institution. An applicant's
academic record should reflect proficiency in intermediate economic
theory and statistics within seven years prior to admission. Knowledge
of the fundamentals of calculus is highly recommended. Applications
for admission must include scores from either the Graduate Record
Examination or Graduate Management Aptitude Test.
Applicants with undergraduate degrees in fields other than economics
and finance or with deficiencies in economic theory, accounting,
or statistics may be admitted subject to passing written examinations
on economic theory and statistics or successful completion of courses
in financial accounting (ACCT 200 or 501), intermediate microeconomic
theory (ECON 301), intermediate macroeconomic theory (ECON 302),
and statistics (MS 251 or 502) or their equivalents. Credit earned
to remove such deficiencies generally may not be applied to the
graduate degree program.
For admission, applicants should meet the following criteria:
- four-year undergraduate GPA exceeding 2.5 or C+;
- percentile for overall score on GMAT (Program code: 3T9CD19)
or GRE equal to or greater than 30;
- percentile for verbal score on GMAT (Program code: 3T9CD19)
or GRE equal to or greater than 20;
- percentile for quantitative score on GMAT (Program code: 3T9CD19)
or GRE equal to or greater than 30.
The program’s graduate admissions committee will review applications
that do not meet the criteria above and may recommend that an applicant
be admitted as an exception. The committee makes recommendations
to the Graduate Program Director,
whose decision is final.
Decisions regarding financial assistance will be made primarily
on the basis of undergraduate performance and test scores. In addition,
applicants are encouraged to submit up to three letters of recommendation.
All inquiries about admissions should be directed to the Graduate
Program Director.
Programs of Study
Within the graduate student's first term of enrollment, an advisory
committee of at least three graduate faculty will be formed to oversee
and direct the student's program in accordance with Graduate School
policies. This committee will be responsible for monitoring the
student's progress in the program. For students selecting an Applied
Economics emphasis, the committee will include a graduate advisor
from the economics faculty. For students selecting a Finance emphasis,
the committee will include a graduate advisor from the finance faculty.
Candidates for the MA and MS
degrees must satisfactorily complete a minimum of 30 hours of graduate
course work. Required courses for either degree include ECON/FIN
400 and 415 and ECON 501 and 502. All candidates must complete at
least 21 hours of program courses at the 500 level, excluding any
pre-program requirements. ECON 500a and 500b, 506 and 528 do not
count for credit toward either the MA or MS in Economics and Finance.
In addition to the requirements above, candidates for both MA
and MS degrees must complete an emphasis in
either Applied Economics or Finance. An emphasis in Applied Economics
requires six hours of electives in economics and six hours of electives
in finance. Candidates for the MS degree must
complete six additional hours of electives in economics or finance
or (subject to petition to the graduate program director) a related
discipline. Candidates for the MA degree must
complete a thesis in economics for six semester hours. A graduate
advisor must approve all elective courses in the student's program.
An emphasis in Finance requires pre-degree completion of FIN 430
and 431 or the equivalent. Required finance courses include FIN
525, 528, and 532. The student must also complete at least three
additional hours of economics at the 500 level. Candidates for the
MS degree must add FIN 596 and an additional three hours of economics.
Recommended quantitative courses include ECON/FIN 515 and 517. Candidates
for the MA degree must complete a thesis in finance for six semester
hours. A graduate advisor must approve all elective courses in the
student's program.
Internships & Financial Assistance:
Internships with St. Louis area corporations provide reimbursement
for travel expenses, tuition waiver, and stipend. Recent internship
sponsors include SBC (formerly Southwestern Bell Telephone), A.G.
Edwards, Inc. (a national brokerage firm headquartered in St. Louis),
Cassens Transport, Laclede Gas, Partners Bank, and the Regional
Chamber and Growth Association of St. Louis.
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