ECONOMICS AND FINANCE
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Contact: Graduate Program Director
Application Deadlines:
For domestic classified status, the deadline is approximately a month before the start of classes (Definite dates are on the application itself). International students, please see the FAQs #16 for your deadline. NOTE: If you are a new graduate student and you intend to apply for a Competitive Graduate Award (CGA), the deadline for having all of your application materials turned in moves up to January 15th. If you apply for the CGA but your SIUE application is incomplete, your application for the Competitive Graduate Award will be removed from consideration.
MASTER OF ARTS
MASTER OF SCIENCE
The Department of Economics and Finance offers two programs of study, one leading to the Master of Arts (MA) degree in Economics and Finance and the other leading to the Master of Science (MS) degree in Economics and Finance. Both degree programs require a common core curriculum followed by emphasis in either Applied Economics or Finance. The MA degree program is intended for the student who wishes to continue with academic work leading to an advanced degree, such as a PhD, MBA, law or other professional degree, or to pursue a career in teaching at the community college level. This program provides a firm understanding of theory, research methodology, concepts and principles in economics and finance; such preparation is essential 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 MS degree program is designed for those students who plan to pursue a professional career in business or government upon graduation. The emphasis of this program is on the development of expertise in the application of concepts and methodology. The program's flexibility enables the student to acquire the specialized skills required of professionals in business, industry, government, or other public service. Graduates of this program are prepared for career opportunities offered in financial analysis and services, business economics, or in many areas of government service. Financial analysts work in 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. Business economists prepare forecasts, perform cost analysis and market studies, develop and evaluate pricing strategies, and assist in corporate planning. Students 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 MA or MS 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. Their academic records should reflect proficiency in intermediate economic theory, financial accounting, 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 (GRE) or Graduate Management Admission Test (GMAT).
For admission, applicants should normally meet the following criteria:
1. four-year undergraduate GPA exceeding 2.5 or C+;
2. percentile for overall score on GMAT or GRE equal to or greater than 30;
3. percentile for verbal score on GMAT or GRE equal to or greater than 20;
4. percentile for quantitative score on GMAT or GRE equal to or greater than 30.
Note that the satisfaction of the criteria does not guarantee automatic admission. The program’s graduate admission committee reviews applications and makes recommendations to the Graduate Program Director, whose decision is final. Applicants may be put on a wait list before a final decision regarding their admission is made. Decisions regarding financial assistance (i. e. assistantship) are made primarily on the basis of the amount of aid requested, undergraduate performance, and test scores. In addition, applicants are encouraged to submit up to three letters of recommendation. All inquiries about admissions and assistantships should be directed to the Graduate Program Director. Applications for graduate assistantships are available on line at the department's website.
PROGRAM OF STUDY
Within the graduate student's first term of enrollment, an advisory committee of at least two graduate faculty is formed to oversee and direct the student's program in accordance with Graduate School policies. This committee is responsible for monitoring the student's progress in the program.
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 adviser 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 adviser must approve all elective courses in the student's program.
EXIT REQUIREMENTS
All candidates for graduation with a MS or MA in Economics and Finance must have completed ECON/FIN 415, ECON 501 and ECON 502 with grades of B or higher in each. Candidates must have a cumulative GPA of 3.0 or higher in economics and finance program courses. In addition, each candidate must submit to the Graduate Program Director a prescribed portfolio of work appropriate to the candidate's curriculum. Typically this portfolio contains final examinations from ECON/FIN 415, ECON 501, and ECON 502 and a writing sample specific to the candidate's curriculum (paper, thesis, or FIN 596 project report). Candidates for the Applied Economics emphasis must also include a final examination from a graduate course in finance.
Candidates for the MA degree must prepare and successfully defend a thesis for 6 hours of credit. Upon or before completion of 21 hours, a student selects a thesis chairperson and a thesis committee of at least two additional members of the graduate faculty in consultation with the Graduate Program Director. This committee and its chairperson assume responsibility for overseeing the student’s satisfactory completion of the remaining thesis requirements.