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Proposal for Master of Science Degrees in Economics

VIEWS: 7 PAGES: 35

									                          TUFTS UNIVERSITY
Department of Economics                              Final Version, February 12, 2009


                   Proposal for
     Master of Science Degrees in Economics
Contents:
______________________________________________________________________
Executive Summary

Introduction
Rationale
Benefits of the Master of Science Degrees in Economics
Program Description and Content
Current Master of Arts Program in Economics Description
Proposed Course-Based Master of Science Degree in Economics (M.S.-Course-Based)
Proposed New Research-Based Master of Science Degree in Economics (M.S.-Research-
Based): Curriculum
Admission to the Master of Science Degrees and Completion
Courses, Enrollments, Staffing and Advising
Administration and Governance
Market Potential
Other Comparable Master Degree Offerings
Plan for Roll-Out
Resource Requirements
Evaluation
______________________________________________________________________
Appendices

Course descriptions of the current Economics M.A. (Proposed M.S.) Program
New course description for Economics M.S.-Research-Based degree
Internal Application Form – M.S.-Research-Based Degree in Economics
Professional Societies, Accrediting Groups
Library
University Library Council: Library Resources Evaluation Form
Faculty Names, Respective Fields and Abbreviated CV's
List of U.S. Graduate Programs in Economics; including terminal Master's
_____________________________________________________________________
Tufts University                               Economics M.S. Degrees Proposal
Department of Economics                         Final Version, February 12, 2009



                   Proposal for
     Master of Science Degrees in Economics
Executive Summary

The Department of Economics proposes to add a new degree within its
graduate program. We propose a new two-year research-based Masters of
Science degree in Economics (M.S.-Research-Based) which includes a
thesis. We also propose that our current one-year Masters of Arts in
Economics (M.A.) degree, without thesis, be renamed Master of Science
degree in Economics-Course-Based (M.S.-Course-Based).

The two-year research-based Masters of Science degree in Economics
(M.S.-Research-Based) with thesis is a natural extension to our current one-
year Masters of Arts degree in Economics (M.A.) without thesis. We
propose to rename the one-year M.A. degree to M.S.-Course-Based to
maintain horizontal equity across degree offerings. Hence, the department
will continue to offer a one-year 8-credit Master degree in Economics
without thesis. The M.S.-Research-Based degree will be awarded to students
who satisfy a more stringent set of 12 credit requirements, including a
master thesis.

The new Master of Science degrees will strengthen the research culture and
resources of our department, assist in faculty and student recruiting, allow
faculty to maintain research skills and compete for outside research grants
through collaborative research with M.S.-Research-Based degree students,
and expand the pool of qualified graders, teaching assistants and research
assistants.

We anticipate enrolling 22 M.S. students each year in steady state, instead of
the current 18, with 4-8 of them joining the M.S.-Research-Based degree in
their second year initially. We do not anticipate the need for substantial
additional resources to fully implement the new degrees, in addition to the
faculty needed to serve our current programs.




                                                                              2
Tufts University                                       Economics M.S. Degrees Proposal
Department of Economics                                 Final Version, February 12, 2009


Introduction

Tufts is a prominent research university offering a master's program in economics. The
size and quality of the economics faculty at Tufts has considerably increased over time,
in parallel with the continued success and enhanced prominence of the university as a
top-ranking academic institution. The Department of Economics proposes to add a new
research-based Master of Science Degree in Economics (M.S.-Research-Based) with
thesis. In addition, we propose renaming our current one-year M.A. degree as M.S.-
Course-Based. The requirements for an M.S.-Research-Based will be more stringent than
for the current M.S.-Course-Based, and will include a thesis.

Our M.S. degree will be comparable in course offerings, quality and rigor to other Master
programs in economics at major research universities, while leveraging the comparative
advantage and special synergies available at Tufts. Our degree will have a special
emphasis on applied and policy-relevant research, consistently with our university’s
mission to develop active leaders for a changing and interconnected world. The master
program’s mission is to give our graduate students world-class training in economics.
Specifically, the new Master of Science Research-Based degree will enhance the research
infrastructure of the department, providing new opportunities for graduate mentoring and
joint research between faculty and graduate students.

Rationale

Our current one-year terminal M.A. program is an eight-course masters program
designed to be completed in a single year. Some of our stronger students, however, wish
to engage in a more research based graduate program and elect to write a master thesis.
Our expected duration of one year is based on the expectation that students will not write
a thesis and will complete the 8-credit coursework, even though we offer a thesis option
to our graduate students.

In the last few years, we have encouraged some of our best M.A. students to stay for a
second year and write a masters thesis under the direction of a faculty member. Hence, de
facto we have a two-year option with a master thesis currently. However, our current
organizational structure does not allow us to distinguish between those graduate students
who write a thesis and those who do not. Providing an M.S.-Research-Based degree to
the students who engage in a more substantive research oriented graduate program and
write a thesis, and an M.S.-Course-Based degree to those students completing a more
applied course-oriented graduate program, possibly in one-year, would allow us to
reward more effectively our students’ research and applied experience. We propose to
rename the one-year M.A. degree to M.S.-Course-Based to maintain horizontal equity
across degree offerings.

In addition, our Master's students serve as a pool of teaching assistants to the
Department's large undergraduate classes. A two-year M.S.-Research-Based degree
enhances our pool of TA's to include second year students with more experience, thus



                                                                                         3
Tufts University                                        Economics M.S. Degrees Proposal
Department of Economics                                  Final Version, February 12, 2009
improving the overall quantity and quality of teaching assistants in the Economics
Department.

Having a research-based Masters of Science option will enhance the student-faculty
interaction at the graduate level and contribute to the department's research agenda and its
overall goal to strengthen our scholarly reputation within the profession. Graduate
students are likely to work on thesis topics related to faculty research. Our expectation is
that co-authored publications will often result from such cooperation.

In addition, we expect that having the choice between an M.S.-Course-Based program
and an M.S.-Research-Based program will allow students to select the option more
appropriate to their job-market goals. Consequently, we expect that having the M.S.-
Course-Based and the M.S.-Research-Based degrees will make the graduate program in
Economics at Tufts more attractive to students looking for advancement in both
professional and academic careers.

Benefits of the Master of Science Degree in Economics

We see the M.S.-Research-Based as the appropriate earned credit for an economics
graduate student who completes two-years in the Economics graduate program and
successfully completes a master thesis. Those students may pursue further graduate
studies (e.g., a doctoral program) or other academic and professional careers. We see the
M.S.-Course-Based as a program where students complete 8 courses/credits and move on
to professional careers.

By adding the new M.S. degrees, we envision several synergies that will (a) enhance
student-faculty interaction, (b) strengthen the current master degree in general, and (c)
provide several positive spillovers for undergraduate students.

For example, we will require that M.S.-Research-Based students take an applied
econometrics elective class, which includes cross-sectional and time series applications
while also extending into policy and program evaluation. This course will be available as
an elective for the M.S.-Course-Based degree students and advanced undergraduates,
thus enhancing their applied training as well.

An important benefit is the expected increase in economics faculty participation in
graduate education in the Economics department. We expect to engage in team taught
graduate classes both to increase faculty participation and to expose students to additional
materials and perspectives.

Regarding the undergraduate program, the M.S. degrees may benefit our students directly
by representing an option for accomplished undergraduates that take masters classes in
their senior year and, with a 5th year on campus, would receive an M.S. degree, either
Course-Based or Research-Based depending on the students interest and abilities.




                                                                                            4
Tufts University                                       Economics M.S. Degrees Proposal
Department of Economics                                 Final Version, February 12, 2009
In addition, the new two-year M.S.-Research-Based program will benefit our
undergraduate program indirectly by providing high-quality TAs. We have an increasing
demand for high-quality teaching assistants for our undergraduate classes. Second-year
students will have accumulated experience to perform better in the classroom. Moreover,
these students will be in a better position to serve as research assistants in research
projects.

More generally, having M.S. economics students will enhance the graduate student
community within the Economics department and at Tufts; thus contributing to the
intellectual life of our university and community.

Program Description and Content

Current Master of Arts Program in Economics Description

Tufts University offers an eight course/credit program of study leading to a Master of
Arts degree in Economics. The Master's program requirements are designed to provide an
understanding of the theoretical and empirical foundations of modern Economics:
statistics and econometrics, microeconomic theory, macroeconomic theory, and
mathematics. In order to achieve these objectives, there are six required core courses.
This six-course core consists of three required two-semester sequences in
microeconomics, macroeconomics, and statistics/econometrics. The final two courses
needed to complete the program requirements may take the form of elective courses or
seminars, or of a Master's thesis. The seminars may be selected from a variety of
approved offerings within the department, or from approved courses offered at nearby
institutions. Students may take courses at the Fletcher School of Law and Diplomacy,
Boston College, Boston University, and Brandeis University. A maximum of two
graduate courses taken elsewhere can be transferred, subject to the approval of the
department. The following table 1 list indicates how students typically complete the
program in one year.

       Table 1
                                         Year I

     Fall                                    Spring

     Statistics (EC201)                      Econometrics (EC202)
     Microeconomics Theory I (EC203)         Microeconomic Theory II (EC204)
     Macroeconomic Theory I (EC205)          Macroeconomic Theory II (EC 206)
     Elective                                Elective


Currently, we have a number of students who stay for a second year and write a master
thesis. The recent numbers are as follows: In 2005-2006, 3 students stayed for the second
year and completed a master's thesis; in 2006-2007, 2 students; in 2007-2008, 7 students;
and currently in 2008-2009, we have 6 students in their second year completing a thesis.


                                                                                        5
 Tufts University                                        Economics M.S. Degrees Proposal
 Department of Economics                                  Final Version, February 12, 2009
 We select those students based on their academic performance and their proposed
 projects. The department provides support for those students in terms of teaching
 assistantships, research assistantships and grading opportunities as well as funds from the
 Henken Fellowship recently endowed to the department.

 Students who are currently in their second year complete the master thesis credits and
 they also take a ½ credit Economic Theory research seminar, EC292, each term. The
 Economic Theory seminar requires that students attend seminars and lectures at the
 department on a semi-weekly basis. Those are seminars at which Tufts faculty and
 visiting faculty present their research. Students are expected to read the papers, present a
 summary of the paper to the instructor and actively participate in the seminar. In practice,
 students who are currently finishing the M.A. degree in two years, complete a total of 11
 credits. The two year M.A. students typically complete the following, as in table 2.

 Table 2
                                           Year I

Fall                                           Spring

Statistics (EC201)                             Econometrics (EC202)
Microeconomics Theory I (EC203)                Microeconomic Theory II (EC204)
Macroeconomic Theory I (EC205)                 Macroeconomic Theory II (EC 206)
                                               Elective

                                           Year II

Fall                                           Spring
Elective
EC Theory Research Seminar (EC292, ½           EC Theory Research Seminar (EC292, ½
credit)                                        credit)
Thesis                                         Thesis


 Proposed Course-Based Master of Science Degree in Economics (M.S.-Course-Based)

 We propose to rename the current 8-credit M.A. degree in Economics, the course-based
 Master of Science in Economics (M.S.-Course-Based). The degree has the same
 requirements as the current 8-credit M.A. degree.

 Proposed New Research-Based Master of Science Degree in Economics (M.S. Research-
 Based): Curriculum

 The new two-year research-based Master of Science (M.S.-Research-Based) degree can
 be completed in two years time. The core difference between the M.S.-Course-Based
 (former M.A.) and M.S.-Research-Based degrees is that for the M.S.-Research-Based




                                                                                            6
Tufts University                                            Economics M.S. Degrees Proposal
Department of Economics                                      Final Version, February 12, 2009
degree a student must complete 4 extra credits including a master thesis. The degrees
should satisfy two basic criteria:

(i) M.S.-Course-Based (former M.A.) degree students must complete 8 credits.
(ii) M.S.-Research-Based degree students must complete 12 credits. Some selected first
year students, based on excellence in academic performance and faculty advising
commitment, will be accepted into the M.S.-Research-Based degree. This select group
will complete a master thesis and a total of 12 credits and will earn a Master of Science-
Research-Based degree in Economics.

The following list in table 3 indicates how students would typically complete the M.S.-
Course-Based degree in one academic year, exactly as is currently done (formerly M.A.
degree):

       Table 3
                                                Year I

     Fall                                          Spring

     Statistics (EC201)                            Econometrics (EC202)
     Microeconomics Theory I (EC203)               Microeconomic Theory II (EC204)
     Macroeconomic Theory I (EC205)                Macroeconomic Theory II (EC 206)
     Elective                                      Elective

     (* ) Students may wish to extend their 8
     credits into 3 or 4 semesters, perhaps
     including the Tufts Water Systems (WSSS)
     program; but without any additional
     financial incentive.



The proposed new Masters of Science-Research-Based degree in Economics is oriented
towards students wishing to gain strong research skills in economics. It is designed to be
completed in two years of full-time study. Students would take the core set of master
courses in their first year to acquire essential skills plus the two electives. In their second
year, they are required to complete a thesis, take the EC Theory research seminar and
complete the additional Applied Econometrics elective course. In all, students seeking the
M.S.-Research-Based degree must complete twelve credits.




                                                                                             7
  Tufts University                                                Economics M.S. Degrees Proposal
  Department of Economics                                          Final Version, February 12, 2009
  The following list in table 4 indicates how students would typically complete the M.S.-
  Research-Based in Economics.

  Table 4
                                                     Year I

Fall                                                     Spring

Statistics (EC201)                                       Econometrics (EC202)
Microeconomics Theory I (EC203)                          Microeconomic Theory II (EC204)
Macroeconomic Theory I (EC205)                           Macroeconomic Theory II (EC 206)
Elective                                                 Elective

                                                     Year II

Fall                                                     Spring

Applied Econometrics Elective (*)                        EC Theory Research Seminar (EC292, ½
EC Theory Research Seminar (EC292, ½                     credit)
credit)                                                  Thesis
Thesis

(*) This is the only additional class required for the
M.S.-Research-Based, relative to the current M.A.
when students stay for a second year and complete a
thesis.

  The Director of the Graduate Program in conjunction with the Graduate program
  committee will keep a current list of approved elective courses both at Tufts and at
  neighboring schools for students in the M.S-Research-Based. Electives would include
  both classes offered in the Department of Economics as well as courses offered in such
  fields as Mathematics, Computer Science, Psychology, or Engineering. They would also
  include appropriate Fletcher School seminars and potential University Seminars. The
  Director of the Graduate Program will co-ordinate with faculty in other departments to
  identify appropriate courses and ensure the suitability of our graduate students enrolling
  in those courses. Students may petition for inclusion of other courses not currently on the
  list.

  Admission to the Master of Science Degrees, and Completion

  All entering students will be admitted to the M.S. program in Economics and will be
  asked to reveal potential interest in pursuing either the course based degree (M.S.-
  Course-Based) or the two-year M.S.-Research-Based degree. M.S.-Course-Based
  students will not be able to take more than 8 course/credits, unless additional payment per
  course is made.




                                                                                                 8
Tufts University                                       Economics M.S. Degrees Proposal
Department of Economics                                 Final Version, February 12, 2009
To be admitted into the research-based Master of Science degree (M.S.-Research-Based),
students must demonstrate good standing in the first year of the program. Specifically, a
full-time M.S.-Research-Based student will have to

   1. Show Math Competency by the end of the first (Fall) semester.
   2. Receive a final grade of B or better in all six core courses, and a grade of A or
      better in at least two of those classes (these minimum grade requirements may be
      adjusted by the Graduate Program Committee at the beginning of each year).
   3. Demonstrated ability to conduct independent research.

   Waivers to each of these three requirements may be granted by the graduate
   committee in exceptional circumstances.

   In addition, in order to be admitted to the M.S.-Research-Based degree, by the end of
   the second (Spring) semester a student will have to

   4. Fill an application (attached in the appendix) with the Department of Economics,
   providing, among other information, (a) the provisionary title of the M.S.-Research-
   Based thesis project, and (b) the name of an Economics faculty who will commit to
   work with the student as the primary advisor for the M.S.-Research-Based thesis
   project.

The Economics graduate committee will review the applications at the end of the second
(Spring) semester and make decisions no later than May 15 of the first academic year.

Students who are accepted for the M.S.-Research-Based degree may enroll in the second
year fall semester Research Seminar, Thesis Courses and electives, including the new
applied econometrics required course. The department will provide support for those
students in terms of teaching assistantships, research assistantships and grading
opportunities, other research funds, and funds from the recent Henken Fellowship
endowed to the department. To demonstrate good standing in the second year of the
program, a student must be making satisfactory progress on their thesis. By the end of the
second year, students must have completed all required coursework, submitted a thesis to
the Graduate School, and satisfactorily completed an oral defense of their thesis,
according to the existing guidelines of the graduate school.

Currently, M.A. students can complete the M.A. degree in a maximum of two-years. We
propose that:
(i) M.S.-Course-Based (former M.A.) degree students can complete the degree in a
maximum of two years.
(ii) M.S.-Research-Based students have a maximum of three years to complete the
degree, but after the second year, no financial incentive would be awarded, unless in
exceptional circumstances.




                                                                                          9
Tufts University                                       Economics M.S. Degrees Proposal
Department of Economics                                 Final Version, February 12, 2009


Courses, Enrollments, Staffing and Advising

Currently the Department offers ten graduate level courses each year: (EC 201 – 206 plus
four EC 191 classes). The EC 191 classes are designed for our Quantitative Economics
students but are open to graduate students. We propose to retain the EC 191 offerings
and offer one additional graduate level course (open to qualified undergraduates), the
Applied Econometrics course. The additional Applied Econometrics course would cover
Time Series analysis, panel data techniques, non-parametric estimation, and other topics.
Including enrollments from qualified undergraduates, we project an enrollment in the
Master of Science courses as follows in table 5:

       Table 5

                              Projected Course Enrollments

                     Statistics (EC201)                              22
                  Econometrics (EC202)                               22
             Microeconomic Theory I (EC203)                          22
             Microeconomic Theory II (EC204)                         22
             Macroeconomic Theory I (EC205)                          22
             Macroeconomic Theory II (EC206)                         22
              Applied Econometrics (ECXXX)                           14

We anticipate enrolling an average of 22 Master students each year, initially with 4-8 of
those students joining the Master of Science-Research-Based degree in their second year.
We also anticipate that all faculty members who are active in research will participate as
instructors and/or advisors in the program.

Administration and Governance

The Graduate program in Economics will be administered by a Graduate Director as is
currently done. The Graduate Program Committee, a standing faculty committee in the
department, will assist the director in administering the programs, in evaluating
prospective candidates for admission into the Master of Science program and then into
the Master of Science-Research-Based degree.

We propose setting up an informal external advisory board appointed by the Dean of the
Graduate School of Arts and Sciences in conjunction with the Chair of the Economics
Department and the Director of the Economics Graduate Program. The advisory board
will consist of the following members: An economist from the Federal Reserve Bank of
Boston; an economist from a consulting firm in the area; an economist from a Ph.D.
program in the area; and an economist from another school at Tufts. In addition, the
Chair of the Economics Department and the Director of the Graduate Program will serve
on the board ex officio. The rationale is to have continuous feedback from different



                                                                                        10
Tufts University                                                 Economics M.S. Degrees Proposal
Department of Economics                                           Final Version, February 12, 2009
constituencies on issues relating to curriculum, goals and students’ job-market
perspectives.

Market Potential

Our current Master program has been remarkably successful in terms of number of
applications and job-market outcomes. Given the current economic conditions, and the
fact that applications to graduate programs in economics typically increase during
economic downturns, we expect to further attract students who want to enhance their
academic and professional skills. We note that Tufts has special advantages that make
academic work in economics particularly attractive, including our location that allow our
students to take advantage of a major network of academic and professional opportunities
within the Boston area.

Other Comparable Master Degree Offerings

The appendix offers a list of Economics Graduate programs in the US offering Master
and Doctoral degrees. We researched selected programs offering Master degrees in
Economics based upon rankings and potential competition with Tufts University. We
found that 54 selected schools offer terminal M.A. programs in economics, with wide
variation in terms of focus, thesis or non thesis option and duration. We also found that
16 selected schools offer a terminal M.S. degree in economics only; and 9 schools offer
both an M.A. and M.S. degree in Economics. In general, we note that the Master
programs offerings are changing rapidly in the U.S.. Many schools have recently
restructured their Master programs and many others have introduced new Master
programs.

In the group of 25 schools offering M.S. degrees in Economics, we found that the
overwhelming majority of schools do differentiate degrees in terms of coursework and
thesis requirement, emphasizing research-based vs. course-based aspects of their
programs. Our approach of an 8-credit course-based Master of Science; and 4 additional
required credits including a thesis for a research-based Master of Science degree is
consistent with the current offerings of Master degrees in Economics.

We also obtained data referring to a 1997 NSF Survey of group rankings of Master
programs in Economics. Tufts University ranks in group 1 with 15 other schools. In that
group, 8 schools offer the M.A. degree only, 2 offer an M.S. degree only, 2 offer both
M.A. and M.S. degree, 2 schools are not currently offering a Master program, and one
offers an MBA in Economics. In this group, schools that offer either a terminal M.A. or a
terminal M.S. only, do offer a PhD program in Economics as well; and we suspect that in
those cases most resources are spent on the PhD programs.1

1
 A study commissioned by the American Economic Association on Graduate Education in Economics
published in 1991 focused on doctoral studies in economics, and only mentions briefly that the numbers of
Master degrees in Economics awarded in 1986 was about 2,000; representing only about 3% relative to the
number of MBA's awarded in that year (Krueger et al, Commission on Graduate Education in Economics,
Journal of Economic Literature, 29, 3, Sept. 1991, p. 1039).


                                                                                                       11
Tufts University                                         Economics M.S. Degrees Proposal
Department of Economics                                   Final Version, February 12, 2009


One of the main objectives of our proposal is to expand the number and the quality of our
Masters students. In addition to the M.S.-Course-Based degree, Tufts's new M.S.-
Research-Based degree in Economics will be an important choice for prospective
students whose other main M.S. degree in Economics options include the programs of the
Georgia Institute of Technology, University of California Santa Cruz, University of
Illinois-Urbana, or the London School of Economics abroad.

In addition, our experience indicates that some of our best and brightest students, in terms
of academic performance, choose to finish the degree in one year and proceed with their
ultimate professional or academic goals. Others in the same group would like to engage
in a more research-based experience and acquire further quantitative skills to proceed
with their careers. We emphasize that expanding the master program with both the M.S.-
Course-Based and M.S.-Research-Based degrees, increases the opportunity set for
students to select Tufts based on their own preferences and academic and professional
needs. In summary, we feel that students will be better served choosing between the
M.S.-Course-Based and M.S.-Research-Based degrees as two distinct tracks.

Plan for Roll-out

As soon as the program is approved, it will be advertised in the usual fashion by the
GSAS, the department’s web site, and through additional writing and advertising
campaigns to schools and colleagues at other institutions.. We will also plan to use the
database from our M.A. alumni network that we have been building up during the last
few years. Such individuals have often been very helpful in providing referrals and
advertising our offerings within their own networks of acquaintances. We have found this
to be the case for both U.S. and international students.

Our ongoing M.A. in economics program allows us to roll out the M.S. degrees at any
time.

Resource Requirements

We expect that the addition of a two-year Master of Science Research-Based degree
would allow us to potentially increase the size of the entering class each year from the
current average of 18 to roughly 22. This would create no additional teaching burden in
the first year as we currently offer the core classes that would be required of students in
the Masters programs. Firstly, we expect to admit between 4 to 8 M.S.-Research-Based
students each year. Subsequently, as the degree earns reputation and the quality of
students improves, we would expect to admit between 6 to 10 students each year to the
M.S.-Research-Based degree. Given that on average, about half of the class would stay
for a second year, we expect an increase in the average number of graduate students in
the department from the current 20-25 to 30-35.

In the second year, we already offer the Economic Theory research seminar. The only
additional course in the M.S.-Research-Based degree is the Applied Econometrics



                                                                                          12
Tufts University                                       Economics M.S. Degrees Proposal
Department of Economics                                 Final Version, February 12, 2009
elective class in the second year to complete the 12th credit. This may be one of the
currently offered EC191 electives or an adapted version of the currently offered Applied
Econometrics class, EC108, all appropriately numbered.

The allocation of tuition scholarship will be in accordance with graduate school policy
and will be used to recruit the strongest class.

We feel space for graduate students is adequate for now. The graduate student space in
the basement of Braker Hall can handle an increase in students, provided that the
computer facilities are updated, as currently planned.

In summary, the M.S. degrees may be immediately implemented with our current
resources.

Evaluation
Evaluation will be based on placements, interviews with candidates and market
conditions. The informal advisory board should meet once a year to review program
curriculum and goals. Other interim (internal) evaluations of the new degree in 3-5 years
should be conducted accordingly.




                                                                                          13
Tufts University                                        Economics M.S. Degrees Proposal
Department of Economics                                  Final Version, February 12, 2009
APPENDICES
   •   A concise description of the current MA in economics program is available on
       line at: http://ase.tufts.edu/econ/ma_program/why_tufts.html. This contains links
       to Handbook, Admission, FAQs, Current Students, Student Life, and Why Tufts?
       Content is regularly updated and has proven to be very helpful in attracting
       prospective students and in communicating with them. We plan to extend this
       page once the program has been approved.
Course descriptions of the current Economics M.A. (proposed M.S.) courses:

201 Statistics. Statistical inference including elements of probability theory, hypothesis
testing, and multivariate analysis. Offered only in the Fall.

202 Econometrics. Parameter estimation techniques for linear single equation and
simultaneous equations and their application to the study of economic behavior. Offered
only in the Spring.

203 Microeconomic Theory I. Analysis of consumer behavior, the theory of production,
equilibrium of the firm and the industry, market structure, and the pricing of the factors
of production. Offered only in the Fall.

204 Microeconomic Theory II. Advanced topics in microeconomic theory, such as
equilibrium analysis and introduction to welfare economics. Offered only in the Spring.

205 Macroeconomic Theory I. Analysis of income and unemployment theory;
comparison of classical, Keynesian, and post-Keynesian systems; and theories of
inflation. Offered only in the Fall.

206 Macroeconomic Theory II. Advanced topics in macroeconomic theory, such as
business cycles, growth models, and conditions for stability. Offered only in the Spring.

EC292 Graduate Seminar in Economic Theory. Faculty seminars and invited lectures
and seminars by scholars and other invited guests in economics and other related areas of
research relevant to the discipline. Meets once a week, half-credit. Prerequisites:
Permission. Offered in the Fall and Spring.
New course description for the M.S.-Research-Based degree:
EC2XX Applied Econometrics: Advanced topics in econometric theory and practice.
Topics include generalized least squares, instrumental variables, nonlinear regression,
and limited dependent variable models, panel data and simulation methods; theory and
application of time series methods in econometrics, including representation theorems,
decomposition theorems, prediction, spectral analysis, estimation with stationary and
non-stationary stochastic processes. Prerequisites: EC202 or permission. Offered in the
Fall term only.




                                                                                          14
        Tufts University                                  Economics M.S. Degrees Proposal
        Department of Economics                            Final Version, February 12, 2009




                              TUFTS UNIVERSITY
                                     Department of Economics

                    Graduate Program in Economics
                     INTERNAL APPLICATION FORM
                 MASTER OF SCIENCE-RESEARCH-BASED
                        DEGREE IN ECONOMICS
Application to be submitted no later than May 5 of the first academic year in the
Economics Master Program

To: Department of Economics
Attention to the Director of the Graduate Program in Economics
Braker Hall
Tufts University

Name:


Tentative Title of Thesis Project:


Primary Master of Science-Research-Based Thesis Advisor:


Date:


Signature:

The application must be accompanied by the following:
1. Curriculum vitae;
2. Description of the candidate’s proposed research project (1 page) and name(s) of
advisor(s);
3. A letter from a member of the full-time department faculty supporting the application and
indicating a commitment to serve as the primary thesis advisor.
4. Copy of an updated academic transcript at Tufts University.
      ________________________________________________________________



                                                                                        15
Tufts University                             Economics M.S. Degrees Proposal
Department of Economics                       Final Version, February 12, 2009


Professional Societies, Accrediting Groups
American Economic Association (AEA)
Council of Graduate Schools




                                                                           16
Tufts University                                       Economics M.S. Degrees Proposal
Department of Economics                                 Final Version, February 12, 2009
Library
We do not anticipate additional library needs. Economics is primarily a journal-oriented
discipline, and our current subscriptions are deemed to be adequate. Furthermore, unlike
in many other disciplines, scholars in economics make it a point to put up their current
work on the web, either in preprint form or in working paper form, even after the material
has been published. A Library Resource Evaluation form follows:




                                                                                       17
     Tufts University                                  Economics M.S. Degrees Proposal
     Department of Economics                            Final Version, February 12, 2009
      Faculty Names, Respective Fields and Abbreviated CV's:

Adreea Balan-Cohen: Applied Microeconomics, Health Economics, Public Economics
Marcelo Bianconi: Macroeconomics and Finance
Drusilla Brown: International Trade
David O. Dapice: Macroeconomic Development
Rajeev Dehejia: Applied Microeconomics, Labor Economics, Econometrics, Development
Economics.
Thomas Downes: Public Finance, Labor Economics, Econometrics
Yannis Ioannides: Macroeconomics (especially Economic growth), Economic Geography and
Spatial Economics, Urban Economics and Housing, Economics of the European Union
Edward Kutsoati: Monetary Economics and Microfinance
Linda Loury: Labor Economics
Margaret McMillan: Development Economics
Gilbert Metcalf: Public Finance, Environmental Economics
Stelios Michalopoulos: Economic Growth
Sharun Mukand: International Political Economy, International Economics, Development
Economics
George Norman: Industrial Organization
Lynne Pepall: Industrial Organization
Daniel Richards: Industrial Organization
Enrico Spolaore: Political Economy, Growth and Development, International Economics.
Chih Ming Tan: Economic Growth, Econometrics
Jeffrey Zabel: Environmental Economics, Housing/Real Estate Economics, Labor Economics,
Economics of Education




                                                                                     18
Tufts University                                Economics M.S. Degrees Proposal
Department of Economics                          Final Version, February 12, 2009


List of U.S. Graduate Programs in Economics;
including terminal Master's
Source: AEA

 School Name       Ph.D. Program   Terminal       Location          Notes
                                   Master's
American                 x            x       Washington
University                                    D.C.
Arizona State            x                    Tempe, AZ        Not currently
University                                                     admitting
                                                               students to
                                                               Master's
                                                               program



Auburn                                x       Auburn, AL
University
Baylor                                x       Waco, TX
University
Boston College           x                    Chestnut Hill,
                                              MA
Boston                   x            x       Boston, MA
University
Bowling Green                         x       Bowling Green,
State University                              OH


Brandeis                 x            x       Waltham, MA      Ph.D. and M.A.
University                                                     in International
                                                               Economics and
                                                               Finance




Brown                    x                    Providence, RI
University
California               x                    Pasadena, CA     Interdisciplinary
Institute of                                                   Social Science
Technology                                                     Ph.D., which
(Caltech)                                                      includes
                                                               economics
                                                               study




                                                                                   19
Tufts University                Economics M.S. Degrees Proposal
Department of Economics          Final Version, February 12, 2009
California State          x   Pomona, CA
Polytechnic
University



California State          x   Fullerton, CA
University
Fullerton

California State          x   Hayward, CA
University East
Bay (formerly
California State
University,
Hayward)




California State          x   Long Beach,
University Long               CA
Beach



California State          x   Los Angeles,
University Los                CA
Angeles



California State          x   Sacramento,
University-                   CA
Sacramento



Carnegie              x       Pittsburg, PA
Mellon
University
Catholic                  x   Washington
University of                 D.C.
America

Central                   x   Mount
Michigan                      Pleasant, MI
University
Claremont             x   x   Claremont, CA
University

Clark University      x       Worcester, MA




                                                              20
Tufts University                 Economics M.S. Degrees Proposal
Department of Economics           Final Version, February 12, 2009
Clemson               x   x    Clemson, SC
University
Cleveland State           x    Cleveland, OH
University

Colorado              x   x    Golden, CO         Mineral
School of Mines                                   Economics

Colorado State        x   x    Fort Collins, CO
University

Columbia              x   x*   New York, NY       Ph.D. in
University                                        Economics;
                                                  M.A. in
                                                  Quantitative
                                                  Methods in the
                                                  Social Sciences




Cornell               x        Ithaca, NY
University
CUNY - City               x    New York, NY
University of
New York



CUNY - City           x        New York, NY
University of
New York Grad
Center




CUNY- Baruch              x    New York, NY       MBA in
College                                           Economics

CUNY-                     x    Brooklyn, NY
Brooklyn
CUNY- Hunter              x    Hunter, NY

DePaul                    x    Chicago, IL
University
Duke University       x   x    Durham, NC

East Carolina             x    Greenville, NC
University




                                                                    21
Tufts University                Economics M.S. Degrees Proposal
Department of Economics          Final Version, February 12, 2009
Eastern Illinois          x   Charleston, IL
University

Eastern                   x   Ypsilanti, MI
Michigan
University
Emory                 x       Atlanta, GA
University
Florida A & M             x   Tallahassee, FL   M.A. in Social
University                                      Science with
                                                concentration in
                                                Economics




Florida Atlantic          x   Boca Raton, FL
University

Florida               x   x   Miami, FL
International
University

Florida State         x   x   Tallahassee, FL
University

Fordham               x   x   Bronx, NY
University
George Mason          x   x   Fairfax, VA
University

George                x   x   Washington
Washington                    D.C.
University

Georgetown            x       Washington
University                    D.C.

Georgia                   x   Atlanta, GA
Institute of
Technology



Georgia State         x   x   Atlanta, GA
University

Harvard               x       Cambridge, MA
University
Howard                x   x   Washington
University                    D.C.



                                                                   22
Tufts University                Economics M.S. Degrees Proposal
Department of Economics          Final Version, February 12, 2009
Illinois State            x   Normal, IL
University

Indiana               x   x   Bloomington, IN
University
Indiana                   x   Indianapolis, IN
University
Purdue
University
Indianapolis
(IUPUI)


Iowa State            x   x   Ames, IA
University

Johns Hopkins         x   x   Baltimore, MD      M.A. program is
University                                       offered only in
                                                 conjunction with
                                                 the B.A. degree
                                                 in Economics
                                                 (Baltimore
                                                 Campus)




Johns Hopkins             x   Washington
University-                   D.C.
Washington



Kansas State          x   x   Manhattan, KS
University

Kent State                x   Kent, OH
University

Lehigh                x   x   Bethlehem, PA
University
Louisiana State       x   x   Baton Rouge,
University                    LA

Massachusetts         x       Cambridge, MA
Institute of
Technology
(MIT)




                                                                    23
Tufts University                Economics M.S. Degrees Proposal
Department of Economics          Final Version, February 12, 2009
Miami                     x   Miami, FL
University
Michigan State        x   x   East Lansing,
University                    MI

Michigan                  x   Houghton, MI    Mineral
Technological                                 Economics
University

Middle                x   x   Murfreesboro,
Tennessee                     TN
State University

Mississippi           x   x   Mississippi
State University              State, MS

Montana State             x   Bozeman, MT
University

Morgan State              x   Baltimore MD
University

Murray State              x   Murray, KY
University

New Mexico                x   La Cruces, NM
State University


New York              x   x   New York, NY
University
(NYU)
North Carolina        x   x   Raleigh NC
State University


North Dakota              x   Fargo, ND       M.S. in
State University                              Agribusiness
                                              and Applied
                                              Economics



Northeastern          x   x   Boston, MA
University

Northern Illinois     x   x   DeKalb, IL
University




                                                              24
Tufts University                Economics M.S. Degrees Proposal
Department of Economics          Final Version, February 12, 2009
Northwestern          x       Evanston, IL
University

Ohio State            x   x   Columbus, OH
University

Ohio University           x   Athens, OH

Oklahoma State        x   x   Stillwater, OK
University

Old Dominion              x   Norfolk, VA
University

Oregon State          x   x   Corvallis, OR
University

Pace University           x   New York, NY      MBA and M.A.
                                                in International
                                                Economics




Penn State            x       State College,
University                    PA

Portland State            x   Portland, OR
University

Princeton             x       Princeton, NJ
University
Purdue                x       West Lafayette,
University                    IN

Rensselaer            x   x   Troy, NY          Emphasis on
Polytechnic                                     Ecological
University                                      Economics and
                                                the Economics
                                                of
                                                Technological
                                                Change




Rice University       x   x   Houston, TX

Roosevelt                 x   Chicago, IL
University



                                                                   25
Tufts University                Economics M.S. Degrees Proposal
Department of Economics          Final Version, February 12, 2009
Rutgers               x   x   New Brunswick,
University                    NJ

Saint Cloud               x   St. Cloud,
State University              Minnesota


San Diego                 x   San Diego, CA
State University


San Francisco             x   San Francisco,
State University              CA


San Jose State            x   San Jose, CA
University

South Dakota              x   Brookings, SD
State University


Southern Illinois     x   x   Carbondale, IL
University -
Carbondale




Southern Illinois         x   Edwardsville, IL
University -
Edwardsville




Southern              x   x   Dallas TX
Methodist
University
Stanford              x       Stanford, CA
University
Suffolk               x   x   Boston, MA         M.A. in
University                                       International
                                                 Economics and
                                                 Economic
                                                 Policy



SUNY - Albany         x   x   Albany, NY




                                                                 26
Tufts University                Economics M.S. Degrees Proposal
Department of Economics          Final Version, February 12, 2009
SUNY -                x   x   Binghamton,
Binghamton                    NY

SUNY - Buffalo            x   Buffalo, NY

SUNY - Stony          x       Stony Brook,
Brook                         NY

Syracuse              x   x   Syracuse, NY
University
Teachers              x   x   New York, NY       Ph.D. and M.A.
College-                                         in "Education &
Columbia                                         Economics"
University




Temple                x   x   Philadelphia,
University                    PA
Texas A&M             x   x   College Station,
University                    TX

Texas Tech            x   x   Lubbock, TX
University

The New               x   x   New York, NY
School
Trinity College           x   Hartford, CT

Tulane                x       New Orleans,       MA in Policy
University                    LA                 Economics


Tufts University          x   Medford, MA

University of             x   Akron, OH
Akron
University of         x   x   Tuscaloosa, AL
Alabama -
Tuscaloosa



University of             x   Fairbanks, AK      MS in Resource
Alaska -                                         & Applied
Fairbanks                                        Economics



University of         x       Tucson, AZ
Arizona




                                                                   27
Tufts University                Economics M.S. Degrees Proposal
Department of Economics          Final Version, February 12, 2009
University of         x   x   Fayetteville, AR
Arkansas -
Fayetteville




University of         x       Berkeley, CA
California -
Berkeley

University of         x       Davis, CA
California -
Davis

University of         x       Irvine, CA
California -
Irvine

University of         x       Los Angeles,
California - Los              CA
Angeles
(UCLA)



University of         x       Riverside, CA
California -
Riverside

University of         x       San Diego, CA
California - San
Diego



University of         x   x   Santa Barbara,
California -                  CA
Santa Barbara



University of         x   x   Santa Cruz, CA     Ph.D. in
California -                                     International
Santa Cruz                                       Economics



University of         x   x   Orlando, FL
Central Florida

University of         x       Chicago, IL
Chicago




                                                                 28
Tufts University                Economics M.S. Degrees Proposal
Department of Economics          Final Version, February 12, 2009
University of             x   Cincinnati, OH
Cincinnati

University of         x       Boulder, CO
Colorado -
Boulder

University of             x   Denver, CO
Colorado -
Denver

University of         x   x   Storrs, CT
Connecticut -
Storrs



University of         x   x   Newark, DE
Delaware

University of             x   Denver, CO
Denver
University of         x   x   Gainesville, FL
Florida
University of         x       Athens, GA        Also offer
Georgia                                         combined
                                                B.A./M.A. in
                                                Economics



University of         x   x   Manoa, HI
Hawaii
University of         x   x   Houston, TX
Houston

University of             x   Moscow, ID
Idaho
University of         x   x   Chicago, IL
Illinois -
Chicago
University of         x   x   Champaign, IL     M.S. in Policy
Illinois -                                      Economics
Urbana-
Champaign

University of         x       Iowa City, IA
Iowa
University of         x   x   Lawrence, KA
Kansas




                                                                 29
Tufts University                Economics M.S. Degrees Proposal
Department of Economics          Final Version, February 12, 2009
University of         x   x   Lexington, KY
Kentucky

University of             x   Orono, ME
Maine
University of             x   Baltimore, MD    Joint M.A. in
Maryland -                                     Economics and
Baltimore                                      Public Policy
                                               Analysis




University of         x       College Park,
Maryland -                    MD
College Park



University of         x       Amherst, MA
Massachusetts
- Amherst



University of             x   Memphis, TN      Ph.D. in
Memphis                                        Business with a
                                               concentration in
                                               Economics




University of         x   x   Miami, FL
Miami
University of         x   x   Ann Arbor, MI
Michigan - Ann
Arbor



University of         x       Minneapolis,
Minnesota                     MN


University of         x   x   University, MS
Mississippi


University of         x   x   Columbia, MO
Missouri -
Columbia




                                                                  30
Tufts University                Economics M.S. Degrees Proposal
Department of Economics          Final Version, February 12, 2009
University of        x*   x   Kansas City,      Interdisciplinary
Missouri -                    MO                Ph.D.
Kansas City



University of             x   St. Louis, MO
Missouri- St.
Louis

University of             x   Missoula, MT
Montana

University of         x   x   Lincoln, NE
Nebraska -
Lincoln

University of             x   Omaha, NE
Nebraska-
Omaha

University of             x   Las Vegas, NV
Nevada - Las
Vegas

University of         x   x   Reno, NV          Resource and
Nevada - Reno                                   Applied
                                                Economics



University of         x   x   Durham, NH
New Hampshire


University of         x   x   Albuquerque,
New Mexico                    NM

University of         x       New Orleans,      Ph.D. in
New Orleans                   LA                Financial
                                                Economics

University of         x   x   Chapel Hill, NC
North Carolina -
Chapel Hill



University of             x   Charlotte, NC
North Carolina -
Charlotte




                                                                    31
Tufts University                Economics M.S. Degrees Proposal
Department of Economics          Final Version, February 12, 2009
University of         x   x   Greensboro,
North Carolina -              NC
Greensboro



University of             x   Grand Forks,
North Dakota                  ND

University of             x   Denton, TX
North Texas

University of         x       Norte Dame, IN
Notre Dame

University of         x   x   Norman, OK
Oklahoma


University of         x   x   Eugene, OR
Oregon
University of         x       Philadelphia,
Pennsylvania                  PA


University of         x       Pittsburg, PA
Pittsburgh


University of         x   x   Kingston, RI      M.S. & Ph.D. in
Rhode Island                                    Environmental
                                                & Natural
                                                Resource
                                                Economics




University of         x       Rochester, NY
Rochester


University of             x   San Francisco,
San Francisco                 CA

University of         x   x   Columbia, SC
South Carolina

University of         x   x   St. Petersburg,
South Florida                 FL




                                                                  32
Tufts University                Economics M.S. Degrees Proposal
Department of Economics          Final Version, February 12, 2009
University of         x   x   Los Angeles,
Southern                      CA
California

University of         x   x   Knoxville, TN
Tennessee


University of             x   Arlington, TX
Texas -
Arlington
University of         x       Austin, TX
Texas - Austin

University of         x   x   Dallas, TX
Texas - Dallas

University of             x   El Paso, TX
Texas - El Paso

University of             x   San Antonio,
Texas - San                   TX
Antonio

University of             x   Toledo, OH
Toledo
University of         x   x   Salt Lake City,
Utah                          UT
University of         x       Charlottesville,
Virginia                      VA
University of         x       Seattle, WA
Washington


University of         x       Madison, WI
Wisconsin -
Madison



University of         x   x   Milwaukee, WI
Wisconsin -
Milwaukee




University of         x   x   Laramie, WY
Wyoming




                                                              33
Tufts University                Economics M.S. Degrees Proposal
Department of Economics          Final Version, February 12, 2009
Utah State            x   x   Logan, UT
University

Vanderbilt            x   x   Nashville, TN    MA in the
University                                     "Graduate
                                               Program in
                                               Economic
                                               Development"




Vanderbilt            x       Nashville, TN
University -
Program in Law
and Economics




Virginia                  x   Richmond, VA
Commonwealth
University

Virginia State            x   Petersburg, VA
University

Virginia Tech         x       Blacksburg, VA

Washington            x   x   Pullman, WA
State University

Washington            x       St. Louis, MO
University- St.
Louis

Wayne State           x   x   Detroit, MI
University

West Texas                x   Canyon, TX       M.S. in Finance
A&M University                                 & Economics




West Virginia         x   x   Morgantown,
University                    WV

Western Illinois          x   Macomb, IL
University




                                                                 34
Tufts University                Economics M.S. Degrees Proposal
Department of Economics          Final Version, February 12, 2009
Western               x   x   Kalamazoo, MI
Michigan
University
Wichita State             x   Wichita, KS
University

Williams                  x   Williamstown,   MA in Policy
College                       MA              Economics


Wright State              x   Dayton, OH      M.S. in Social
University                                    and Applied
                                              Economics




Yale University       x       New Haven, CT


Youngstown                x   Youngstown,
State University              OH




                                                               35

								
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