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:
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 official 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:
Test information for the GRE is available at http://www.ets.org or for the GMAT go to http://www.mba.com/mba/TaketheGMAT. For scores to come to SIUE, designate that they go to School #1759, Dept #4301 for the GRE or School #3T9CD19 for the GMAT.
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 and local area corporations provide reimbursement for travel expenses, tuition waiver, and stipend. Recent internship sponsors include Bank of Edwardsville, A.G. Edwards, Inc. (a national brokerage firm headquartered in St. Louis ), and Cassens Transport.